Predrag Trpeski

Ss. Cyril and Methodius University in Skopje · Faculty of Economics - Skopje

The relationship between wage and labor productivity is very frequent and receives a special treatment in economic theory and practice. The purpose of this paper is to explore the relationship and interdependence between net-wage and labor productivity in the Republic of Macedonia during the period 1995-2007. The objects of analysis are the relatio...

The objectives of this paper are to empirically identify business cycles in a small open EU-candidate country such as the Republic of Macedonia and to assess the degree of synchronization of the country’s business cycle with the cycle of the EU economy. Towards the first objective, we apply linear and non-linear methods for delineating the producti...

The aim of this paper is to analyse the unemployment on the basis of administrative data sources and application of the stock-flow model. The intention is to recognize the changes and features of the unemployment regarding stocks and flows of the main segments on the labour market: employed, unemployed and inactive population in the Republic of Mac...

The main goal of the paper is to estimate the NAIRU for the Macedonian economy and to discuss the applicability of this indicator. The paper provides time-varying estimates for the period 1998-2012, which are obtained using the Ball and Mankiw (2002) approach, supplemented with the iterative procedure proposed by Ball (2009). The results reveal tha...

The aim of this paper is to show the distribution of net wages in the Republic of Macedonia and whether the great world economic crisis of 2008 has had an impact on the inequality in the distribution of wages. In this paper it is analyzed the level of inequality in the distribution of wages in Macedonia in 2008 as a year when the economic crisis st...

Youth unemployment is an issue that seriously concerns many countries, both developed and developing countries. Youth unemployment rates (as % total labor force ages 15-24) in North Macedonia is (36.9% in 2020), and despite recent improvements in labor market indicators, it has remined relatively high in comparison with the rest of Western Balkans...

Higher education institutions are fully engaged in producing adequate labour supply. Targeting the persistently high youth unemployment should be among the top governmental priorities in a mutual benefiting environment for the economy and the HEIs. Earlier studies and practical experience for the national labour market imposes indications for a pos...

This paper investigates the gross and net capital flows in seven CESEE countries and estimates the level of their volatility, as well as their longer-term dynamics. By structurally decomposing the capital flows into separate instruments, the most volatile categories are identified. A cross-country comparison is made, to determine the resemblance of...

International capital flows are key component of the international monetary and financial system. They bring significant economic benefits, that can be both direct and indirect. Nevertheless, volatile capital flows increase the risk of crises and may adversely impact the economic performance. Capital inflow surges may induce various challenges, inc...

Financial analysis plays a major role in investing the disposable income of various economic agents. Stock markets are predominantly made up of small investors with limited information and low capabilities for a suitable analysis. Researchers, as well as practitioners, are divided over the findings on the adequacy of technical analysis in investing...

As most empirical evidence indicates, health has a positive impact on economic well-being and contributes to solving fundamental economic problems, this paper aims to analyze the relationship between health expenditures, as an indicator of human capital, and economic growth. In the process of globalization, human capital is a critical factor for an...

Volatile capital flows pose serious risks to economic growth and financial stability. This paper investigates the link between economic per­formance and gross capital flows volatility in emerging market and devel­oping economies (EMDE), and specifically, the extent to which macropru­dential policy measures can diminish the detrimental effects of ca...

Research background: The European economy has been experiencing declining productivity growth rates since the 1970s despite high investments in information and communication technologies (ICT). Investments in ICT are considered a key driver of productivity growth that serves as a basis for further improvements in living standards. However, despite...

The migration is one of the constitutive features of Western Balkans’ historical specificity, which significantly changed Balkan societies in the last two centuries. One crucial effect of intensive emigration is high remittances. Cross-country analyses and evidence from household surveys suggest that migration and remittances reduce poverty in the...

The aim of this paper is to examine the relationship between the education expenditure, as an indicator of human capital and economic growth, as most empirical evidence shows that education can be considered a healthy investment and an important factor that contributes to solving key economic problems. This is especially true in an economy that is...

Тaking into account the relevance of the topic, the purpose of research in this paper is to investigate the relationship between job satisfaction and turnover intention. Hence arises the problem of this research, which is the impact of job satisfaction on the turnover intention of the healthcare employees in the public health system of the Republic...

According to recent trends, there is a focus on the interest in the Western Balkan economies to attract foreign capital in the form of foreign direct investment (FDI) as a source of external financing and economic recovery factor. In this paper, an attempt is made to analyze the movement and impact of FDI on economic growth and foreign trade on the...

The general impact of the COVID-19 pandemic certainly left a mark on stock prices through significant fluctuations in its beginning. To determine the general effects and significance of specific news, we use event study analysis based on the risk-adjusted return model or the single-factor CAPM market model in the case of North Macedonia. For this r...

Economists have long been interested in explaining cross-country differences in economic growth by focusing on the determinants of growth. One of the most important contributors to growth is human capital. Health constitutes an important form of human capital too and therefore should not be neglected. Therefore, the aim of this study is to analyse...

The relationship between health and gross domestic product is in the focus of a number of studies, which consensus is the existence of a strong and positive correlation between these two variables at the aggregate level. Health performance and economic performance are interrelated. Health is measured by few indicators, and the most common are life...

Establishing and maintaining macroeconomic stability and fiscal discipline on the one hand, and stimulating economic activity, by enhancing the quality of public finances, increasing capital expenditures, and enhancing competitiveness in the Macedonian economy, on the other hand, are two opposing objectives that should be pursued by policymakers. G...

The link between education and economic growth has been the subject of public debate, and it has been widespread interest among economists in solving key economic problems. As a determinant of human capital, which is one of the factors of production, education has its own contribution in the process of globalization where economies are transformed...

It is recognized that gross capital formation has a direct, but also an indirect impact on the labour productivity. Physical capital naturally has an important role for the economic growth and labour productivity. It has always been seen as potential determinant for enhancing productivity growth. Based on an intensive and a comprehensive literature...

Capital formation is considered to be an important factor of economic growth both in theoretical and empirical literature. It is generally agreed that the main purpose of economic development is to build capital equipment on a sufficient scale to increase productivity in the economy. Therefore, capital formation makes development possible even with...

The role of human capital in a country's growth process is of great importance. As a separate factor of production, it contributes to solving key economic problems in the process of globalization, especially in economies based on knowledge. The aim of this paper is to illustrate the impact of human capital on the economic growth of Macedonia in the...

The performance evaluation process is used to conduct an objective assessment of the performance and the effectiveness of the employees, the compliance with the organizational values and hierarchy and the achevement of the standards of the organization. The employee performance evaluation is an exceptionally important segment in healthcare organiza...

Labor productivity is a crucial determinant of one economy’s competitiveness, and it varies across different countries and areas. Productivity growth is important because it contributes to growth in output, income and living standards. There are only two measures which can be used for increasing the level of economic output: one is by applying more...

The aim of this paper is to elabourate the youth on the labour market in selected South-East European countries with special emphaisis on Macedonia and particular reference to their present state. The analysis of Macedonian youth employment is accomplished with their educational and economic structure. The situation of the global youth employment r...

The aim of this paper is to analyze changes and impacts on the level of labour productivity in the agricultural sector in Macedonia in the period from 2006 to 2017. Labour productivity is an important determinant for establishing the competitiveness of a particular sector or overall economy and helps in creating the necessary conditions for economi...

Finally, based on our research study we would like to offer some suggestions to the policy makers: First, our analysis of the effciency of public spending and the overall fiscal policy of the republic of Macedonia for the period 2002:Q1 – 2014:Q3 by using the concept of fiscal multipliers confirms the following conclusions: • the effects of inceras...

REAL CONVERGENCE OF LABOUR MARKET OUTCOMES IN SELECTED SOUTH EASTERN EUROPEAN COUNTRIES IN THE PROCESS OF ACCESSION TO THE EUROPEAN UNION Abstract: The main goal of this paper is to show the position of the SEE countries: Macedonia, Serbia, Bosnia and Herzegovina, Montenegro and Albania, turned into the group of Western Balkans, compared to the Eur...

The aim of the paper is to examine the relationship between the labor productivity and real net wages in Macedonia at the level of the whole economy, and in the sectors of industry and agriculture, both, in the period 2006-2015, i.e. shortly before the commencement and after the Great financial and economic crisis. The paper starts from the assumpt...

The paper provides time-varying NAIRU estimates for Macedonian economy for the period 1998-2012, which were obtained using Ball and Mankiw (2002) approach and additionally supplemented with iterative procedure proposed by Ball (2009). The results revealed that the Macedonian NAIRU has the hump-shaped path: the estimated NAIRU is 23.5 percent in the...

The tax wedge is a significant part of total labour costs, which creates a difference between the gross wage and the net take-home pay. The tax wedge receives much attention in research, since it is perceived that high labour tax wedge has detrimental effects on labour market outcomes and causes higher levels of unemployment. The paper addresses t...