Anita Čeh Časni

• Professor (Associate)
• Professor (Associate) at University of Zagreb

This paper aims to investigate relationships among nine institutional quality dimensions in order to identify the effect of each quality dimension on the others in an institutional evaluation. The relationships between 9 quality dimensions in 78 institutional evaluations are explored quantitatively using the Pearson correlation matrix. The results...

The adverse effects booming tourism activity and peer-to-peer platforms on housing markets are well known, while the influence of relative changes in tourism accommodation composition on housing prices are not well understood. To shed more light on the issue, this paper employs the data set on housing prices and its main tourism, economic, and demo...

China provides the largest contribution to global growth, which has sparked a rethinking of the other top world’s economies strategic dimensions. At the same time, the role played by the European Union (EU) remains open to numerous risks and challenges that could contribute to significantly lagging in development. China poses one of them. The EU sh...

Tourism’s positive and negative externalities are of an extreme social and economic importance for the tourism dominant countries. In particular, studying tourism’s impact on housing prices has experienced increased interest over the past decade as it has a relevant influence on real estate economics and housing market development, which spills ove...

“Sharing economy” and “collaborative economy” refer to a proliferation of initiatives, business models, digital platforms and forms of work that characterise contemporary life: from community-led initiatives and activist campaigns, to the impact of global sharing platforms in contexts such as network hospitality, transportation, etc. Sharing the co...

Public value capture is an essential phenomenon to improve the refinancing of public infrastructure and secure the necessary budget for other important duties like education, health and social care. For this reason, smart tools are needed for a successful implementation. This book provides an overview and discussion of instruments and practices in...

Land value capture can be defined as a policy approach that allows communities to restore and reinvest land value increases that result from public investment and other government actions. For that reason, public action should generate public benefit. The recurrent property tax, one of many tools for land value capture, is the foundation of a stabl...

The book titled The Collaborative Economy in Action: European Perspectives is one of the important outcomes of the COST Action CA16121, From Sharing to Caring: Examining the Socio-Technical Aspects of the Collaborative Economy (short name: Sharing and Caring; sharingandcaring.eu) that was active between March 2017 and September 2021. The Action was...

Although researchers have confirmed the impact of tourism on housing prices in many destinations affected with overtourism, they do not consider housing affordability in relation to the population's income levels. This study explores the relationship between tourism activity and housing affordability, using a sample of Croatian municipalities. Spec...

The special issue of Croatian Review of Economic, Business and Social Statistics (CREBSS) is focusing on contemporary issues in statistical methods and data science applications. CREBSS is the first statistical journal established in Croatia and it is published by Croatian Statistical Association (CSA). Statistical methods have widespread use in di...

Highlights  The Covid-19 pandemic has affected the peer-to-peer accommodation sector.  We examine host perceptions of and responses to the Covid-19 pandemic.  We identify five host types according to their response to the pandemic.  We offer a continuum of different categories of host pandemic responses.  The continuum may be of theoretical an...

The aim of this paper is to explore the basic features of consumption of 50+ population in Croatia by using the data from Survey of Health, Ageing, and Retirement in Europe – SHARE (SHARE, 2017). Thereby we use an extended model of consumption that includes basic consumption determinants that are stipulated by the economic theory and empirical rese...

The interactions between economic, social and political factors have been increasingly researched in order to enhance the understanding of the (postsocialist) business environment. Namely, despite the EU membership of most East European countries, the gap between formal and informal institutions is increasing. Simultaneously, despite the change of...

The aim of this paper is to examine the statistical relationship between cash flow and corporate debt using multiple linear regression model. In addition to cash flow, the size of the enterprise was used as an additional explanatory variable in the model. Since there is a great deal of research in the relevant literature on the relationship between...

The aim of this paper is to identify infl uence of energy taxes on the demand for renewables. Namely, ecologically motivated taxes on energy products can give an effective incentive for businesses and households to consider externalities connected with transformation and energy usage. This is why more and more countries are adopting laws and regula...

The impact of digitalization has spread to businesses, public insti- tutions and individuals. However, while the digitalization process has brought progress and many benefi ts, it has also caused some new prob- lems and challenges that economic policy makers have to deal with. The aim of this paper is to defi ne and measure the impact of the digi...

Cryptocurrencies are a sweltering topic in modern times of investment strategies. Since the cryptocurrency market is classified as an emerging market, in this paper a portfolio of emerging markets is compiled from the indices of four European Union (EU) countries and one cryptocurrency. The aim of this paper is to investigate how the incorporation...

The Eastern enlargements of the European Union (EU) since the early 2000s have included post-transitional economies at a lower level of development than the existing member states and thus, have significantly affected the East-West migration flows and labour markets on both sides. This has provided a distinctive opportunity to study the effects of...

Productivity is often defined as the ratio between output volume and input. In other words, it measures how effectively production inputs, such as labour and capital, are used in the economy to produce the right level of output. Productivity is considered a fundamental source of economic growth and competitiveness, and as such is considered the bas...

A community-supported agriculture (CSA) was introduced into Croatia in 2009, immediately after the 2008 economic crisis. This grassroots movement falls within the wide range of activities belonging to yet another global initiative - solidarity economy. CSA in Croatia developed in two distinct directions - one in Istria and other in Zagreb and its s...

We analyze the long-term trends in Croatian income convergence with respect to the EU. Croatia is the worst performer among new EU members in terms of β-convergence. Stochastic income convergence tests with breaks suggest Croatia is not able to catch up to old EU members, but could still diminish the difference between Croatian and new EU members’...

Sažetak: Investicije kao komponenta ukupne finalne potrošnje povećavaju tekuću potražnju, a time i proizvodnju 3. Njezin efekt na proizvodnju i zaposlenost je multiplikativan. Vrijednost multiplikatora je veća ako je uvozna ovisnost manja i ako se za investicije koriste složeniji proizvodi. Osim utjecaja na tekuću potrošnju, proizvodnju, a time i n...

The size of the "state" or the public sector is discussed among theoretical economists, practical economic politicians, lawyers, philosophers and other professions, but also among common people. Some advocate for the minimum role of the state, while others support a greater role of the state in social and economic development. Between these two ext...

In this empirical study, a system estimation of housing wealth effect on personal consumption is analysed by employing panel vector autoregressive model. The research is conducted for a panel of 28 selected European countries. Housing wealth effect appears to be more protuberant than financial wealth effect, therefore in this research the dynamic r...

Note: The estimates are performed using the PMG estimator of Pesaran et al. (1999); the reported short-run coefficients and the speed of adjustment are simple averages of country-specific coefficients; all equations include a constant term; standard errors are in brackets, p values are in parenthesis; *** denote significance at 1 percent confidence...

In the last three decades, there have been major changes in the structure of trade as well as new trends on the global level. In this context, Croatia, as a member of the European Union in its trade relations with third countries, applies the European Union's Common Commercial Policy. Also, Croatia become a part of a single EU internal market in wh...

The aim of this study was to explore empirically whether there is a direct housing wealth effect on personal consumption in the long and the short run in selected countries. For that purpose the estimator for nonstationary heterogeneous dynamic panels was employed. Namely, pooled mean group estimator that allows for heterogeneous short-run dynamics...

The unemployment can be considered as one of the main economic problems. The aim of this paper is to examine the differences in male and female unemployment rates in selected European countries and to predict their future trends by using different statistical forecasting models. Furthermore, the impact of adding a new data point on the selection of...

Wage flexibility is considered to be a key determinant of labour market flexibility. In this paper flexibility of real and nominal wages in the group of Western Balkan countries as well as in selected New Member States (NMS) is explored by means of unrestricted vector autoregressive model. The main goal of this study was to identify whether selecte...

In this study, a housing wealth effect on personal consumption is assumed and tested on 16 selected European countries using an estimator developed for dynamic heterogeneous panel data analysis. Empirical estimates have shown that there is a long-run and a short-run housing wealth effect in analysed countries. The elasticity of real private consump...

Private consumption is the largest component of aggregate consumption and it has the largest share in the gross domestic product. As well as the other components of aggregate consumption, it has a multiplicative effect on the overall economic development. Therefore there is a need to systematically track the changes in personal consumption in order...

As the EU’s biggest supplier of imported goods and a second trading partner, China has become an increasingly important actor on the global economic scene. This paper reports new evidence through analyzing whether the EU labour market is affected by exposure to imports from China. Drawing on a panel dataset of 27 EU countries, over the 2003–2013 pe...

Following Friedman’s permanent income hypothesis and Ando and Modigliani’s lifecycle hypothesis, this paper empirically studies the role of house prices and income in determining the dynamic behaviour of consumption in selected European post-transition economies using the panel vector autoregression (PVAR) approach and quarterly data covering the p...

This research note analyses the long- and short-run relationship between tourism expenditures, income and transportation costs based on quarterly data for European countries spanning the period from 1996Q1 to 2014Q1. As the first macroeconomic study to explore how tourist spending behaviour potentially reacted to the 2008 financial crisis, this not...

In this paper the impact of the economic development level indicators and the selected Information Technology and Communication (ICT) development level indicators on “the percentage of individuals using Internet booking for travel and holiday accommodation in the last 12 months” in selected European countries is studied. For this purpose the Eurost...

Single largest expenditure item in the budgets of most families and individuals is housing, therefore even a small percentage change in housing prices and rents will have large impacts on non-housing consumption and household well-being. In this research, with the aim of investigating the housing cost affordability of households in the Europe and i...

This study examines the long-run and the short- run relationship between private consumption, housing wealth, and income. In order to asses this relationship empirically the pooled mean group estimator of dynamic heterogeneous panel data on the sample of 16 selected European countries was used. Empirical estimates support the existence of the long-...

The primary objectives of this paper are to provide a theoretical and empirical framework for corporate governance quality assessment in selected SEE countries and to investigate differences in corporate governance practices using our original methodology. Construction of composite SEECGAN index and its evolution is explained. It’s seven building b...

Changes in the higher education system resulted in higher education institutions having to pay more attention to their students. Keeping students and ensuring their satisfaction is the basis for sustainable success of higher education institutions. The aforementioned is the reason why this paper is focused on analyzing students’ perception of the q...

Gross fixed capital formation (GFCF) in the European Union fell substantially during the recession in 2008 and has remained at depressed levels since then in most EU countries. Such a long period of low investment further weakens current economic activity and potential growth, and has spurred policy initiatives to promote investment. In order to as...

Fluctuations in economic activity are often influenced by calendar-based various factors. Such factors are non-working (non-trading) days, leap years, public holidays and the like. Most economic series are observed on a monthly or quarterly basis, but months (aggregated into quarters) are not comparable due to the different number of working and no...

In this paper, after data exploration, the cluster analysis is used to identify which of the selected 8 European countries have similar housing affordability, measured by seven indicators: Price to income ratio ; Gross rental yield city centre ; Gross rental yield outside of centre ; Price to rent ratio city centre ; Price to rent ratio outside of...

In this paper the flexibility of real and nominal wages in Slovenia and Croatia is investigated. The impact of macroeconomic shocks in real and nominal wages in aforementioned countries is analysed using two unrestricted vector autoregressive models. It is explored whether they show a different behaviour with the respect to the response of nominal...

The main objective of the paper is to analyse the determinants of Internet banking use in European Union countries based on EUROSTAT data for 2011. The considered determinants of Internet banking use are selected in line with relevant theoretical and empirical research and submitted to factor analysis which yielded two factors. The first extracted...

Economic activity fluctuations are often influenced by various factors related to the calendar. These factors include non-working (non-trading) days, leap years, public holidays etc. In analysis of many economic variables in which time series are seasonally adjusted it is necessary to identify and correct calendar effects using suitable method, but...

This paper investigates the impacts of economic indicators and the Internet penetration rate, as well as people’s ICT skills based on the Percentage of Individuals who booked travel and holiday accommodation over the Internet as the main variable under study. Recent data on member states in the European Union (EU28) are analysed, including data on...

The main objective of this paper was to quantify the long- and short-term impacts of labour market reforms on economic activity in EU countries, including Croatia. Therefore, we derived a model using the pooled mean group estimator (PMG) for the period from 2000 to 2011. Before performing dynamic panel analysis based on the PMG estimator, the unit...

This study aimed to forecast the level of employment in the tourist accommodation sector in the European Union (EU27 and Croatia) by age groups using selected smoothing models. Employment in the tourist accommodation sector is of a great importance, since, in addition to increasing purchasing power that employment provides, it allows the preservati...

The purpose of this study was to explore key attributes of service quality in the Croatian higher education system. In particular, the study aims to compare student and faculty perceptions of service quality and to identify institutional aspects that may affect the perceptions of these two customers. Principal component analysis is used to define k...

In this research housing affordability as a measure of population's ability to afford or to purchase a particular item, such as a house, indexed to the population's income is investigated. The main aim of this research was to forecast housing affordability in three selected post-transition economies: Croatia, Latvia and Serbia. Overall, five indica...

The aim of this paper is to select the most accurate forecasting method for predicting the future values of the unemployment rate in selected European countries. In order to do so, several forecasting techniques adequate for forecasting time series with trend component, were selected, namely: double exponential smoothing (also known as Holt`s metho...

The goal of the paper is to describe and analyse possible economic and ICT development level impacts on the Internet purchases by individuals, as the main variable under study, in selected European countries, EU28, and three official EU candidates, the Former Yugoslav Republic (FYR) of Macedonia, Serbia and Turkey. For this purpose, the Eurostat da...

The goal of the paper is to describe and analyse possible economic and ICT development level impacts on the Internet purchases by individuals, as the main variable under study, in selected European countries, EU28, and three official EU candidates, the Former Yugoslav Republic (FYR) of Macedonia, Serbia and Turkey. For this purpose, the Eurostat da...

The aim of this paper is to select the most accurate forecasting method for predicting the future values of the unemployment rate in selected European countries. In order to do so, several forecasting techniques adequate for forecasting time series with trend component, were selected, namely: double exponential smoothing (also known as Holt`s metho...

The purpose of this study is to explore key attributes of service quality in the Croatian higher education (HE) system. In particular, the study aims to compare student and faculty perceptions of service quality, and to identify institutional aspects that may affect the perceptions of these two customers. Principal component analysis is used to def...

This study examines the long- and short-run relationship between private consumption, housing wealth, stock market wealth and income. In order to asses this relationship empirically, we use pooled mean group estimators of dynamic heterogeneous panel data on a sample of 30 developed and emerging economies. The sample countries are segmented into thr...

This paper examines economic and Information and Communication Technology (ICT) development influence on recently increasing Internet purchases by individuals for European Union member states. After a growing trend for Internet purchases in EU27 was noticed, all possible regression analysis was applied using nine independent variables in 2011. Fina...

Since housing is the most important component of non-financial personal wealth in most countries and in European post-transition economies in particular, this study estimates the impact of changes in the housing wealth effect on personal consumption in the long- run and the short- run in light of the permanent income hypothesis. In order to asses t...

The aim of this paper is to quantify the long run and short run relationship between debt and economic activity in Central, Eastern and Southeastern European countries. In order to investigate the impact of public debt on economic growth, the paper uses pooled mean group estimator (PMG) for the period between 2000 and 2011. A battery of panel unit...

This study analyzes the long-run cointegration relationship between equity and real estate prices in 30 developed and emerging economies divided in four subpanels related to the income level and the financial market structure. We test for cointegration between equity and real estate prices using pooled mean group estimator of dynamic heterogeneous...

This paper analyzes the level of enterprises’ Internet use in selected European countries through selected Information and Communication Technology (ICT) variables and recent Eurostat official data. A special attention is given to Croatia, Slovenia and the former Yugoslav Republic of Macedonia (FYROM), all three being the South East European (SEE)...

This paper examines economic and Information and Communication Technology (ICT) development influence on recently increasing Internet purchases by individuals for European Union member states. After a growing trend for Internet purchases in EU27 was noticed, all possible regression analysis was applied using nine independent variables in 2011. Fina...

In this paper cointegration and error correction models are used to explore the long run and short run behavior of personal consumption in Croatia as a function of income, house prices and total credit to households. The results of the analysis showed that income (approximated by net real wage), house price and total credits to households play an i...

The aim of this paper is to investigate the interrelation between the housing sector and macro-economy in Croatia. It focuses on the housing sector as a source of volatility and studies whether the changes in house prices easily spillover to the rest of the economy. Furthermore, it studies how domestic variables, especially financial conditions, in...

Cilj ovog rada je ukazati na problem nejednake razine konkurentnosti županija u Republici Hrvatskoj. U radu se pomoću Wardove metode provodi grupiranje županija na temelju vrijednosti skupina statističkih indikatora, koji uz skupine perceptivnih indikatora formiraju Regionalni indeks konkurentnosti. Provedeno statističko klasteriranje ukazuje na ho...

This article analyses the relationship between housing wealth and consumption for four European post-transition economies: Bulgaria, Croatia, Estonia and the Czech Republic. We use a vector error correction model and a threshold error correction model in order to asses the long-run and the short-run responsiveness of consumption to permanent change...

The aim of this paper is to investigate the interrelation between the housing sector and macro-economy in Croatia. It focuses on the housing sector as a source of volatility and studies whether the changes in house prices easily spillover to the rest of the economy. Furthermore, it studies how domestic variables, especially financial conditions, in...

Metode poslovne prognostike. Poglavlje u knjizi Poslovna statistika (Urednici: Dumičić, Ksenija; Bahovec, Vlasta). Str. 399-454. Zagreb: Element. ISBN 978-953-197-648-0

Stambeno zbrinjavanje ima značajnu ulogu u svakom gospodarstvu, a kako se rješavanje stambenog pitanja smatra jednom od primarnih životnih potreba, praćenje stambenog sektora dodatno dobiva na značenju. Nastanak krize u gospodarstvu samo je potencirao problem praćenja stambenog sektora, pa se ovim radom nastoji dati doprinos postojećim analizama to...

The last wave of EU enlargement ended on 1st January 2007 with the accession of Romania and Bulgaria. Many countries of the South-Eastern Europe aspire to join the EU. Croatia appears to be the next prospective member, so the aim of this paper was to classify Croatia and EU 27 Member States according to the structural economic indicators. These cou...

The last wave of EU enlargement ended on 1st January 2007 with the accession of Romania and Bulgaria. Many countries of the South-Eastern Europe aspire to join the EU. Croatia appears to be the next prospective member, so the aim of this paper was to classify Croatia and EU 27 Member States according to the structural economic indicators. These cou...

The last (5 th) wave of EU enlargement ended on 1 st January 2007 with the accession of Romania and Bulgaria. Many countries of the South-Eastern Europe aspire to join the EU. Croatia appears to be the next prospective member, so the aim of this paper was to classify Croatia and EU 27 Member States according to the structural economic indicators. I...

The last (5 th) wave of EU enlargement ended on 1 st January 2007 with the accession of Romania and Bulgaria. Many countries of the South-Eastern Europe aspire to join the EU. Croatia appears to be the next prospective member, so the aim of this paper was to classify Croatia and EU 27 Member States according to the structural economic indicators. I...

Cilj rada je prikazati ekonometrijski model hrvatske turističke potražnje za razdoblje od prvog kvartala 1998. Do četvrtog kvartala 2007. Godine, te istražiti koji faktori imaju najveći utjecaj na turističku potražnju aproksimiranu ukupnim brojem ostvarenih noćenja. Turistička potražnja modelirana je na uobičajen način, metodom najmanjih kvadrata (...

Ovaj rad sagledava slobodu kretanja radnika na području proširene EU s aspekta ekonomske i pravne pozadine koju takva sloboda donosi. Cilj rada je prikazati postojeće stanje na europskom tržištu rada u svjetlu činjenice da je Republika Hrvatska u procesu pregovora za članstvo u EU. Predmet istraživanja je ovisnost BDP per capita o ukupnoj stopi zap...