Ivan Ružić’s research while affiliated with Baltazar Zaprešić University of Applied Sciences and other places

Research background with the introduction of the euro as the domestic currency, economies have faced inflationary pressures caused by price convergence towards higher levels. During the last period of significant negative shocks from the environment, by entering the euro area, the negative effects of the likelihood of inflation caused by the introduction of the euro may be absent. Purpose the aim of this paper is to prove that inflation caused by joining the euro area will not materialize due to the negative effects of external shocks. Research methodology A panel analysis with a fixed effects model was conducted for two models. Model 1 represents the countries that introduced the euro before the escalation of the global financial crisis and Model 2 represents the countries that introduced the euro after the development of the global financial crisis. Results the research confirmed that due to current negative external shocks and rising long-term interest rates in financial markets, the effect of inflation due to the introduction of the euro will be absent among EU members that will adopt the euro as a common currency in the next few years. Novelty The results of the research contribute to the scientific prediction of business and financial trends. The creators of macroeconomic models and monetary policy can use the results to define measures, instruments and activities more precisely for achieving and maintaining macroeconomic balance.

Purpose – The paper evaluates the applied macroprudential measures in selected countries by testing their efficiency in tourism and reducing the revenue gap in tourism sector during the pandemic crisis. Research methodology – The effects of macroprudential policy were tested using the Granger causality test and PVAR model. The research used data from the period 2019 to 2022 by quarters. The impulse response function evaluated the long run impact of macroprudential policy on performance of tourism entities. Findings – The results confirm the positive effect of systemically important institutions buffer (SIB) on reducing the losses in tourism. The impulse response showed the significant impact of SIB on revenue gap (RG) reduction. Research limitations – The research has limitations regarding to the short period of observation. The additional variables can be entered into the model. Practical implications – The results serve the policy makers for shaping the measures for recovery policies and maintaining long-term economic stability. The findings are useful as they can serve as a guide in designing measures to help the tourism recovery. Originality/Value – The contribution of this study is reflected in providing scientific evidence of macroprudential measures effectiveness for several countries and routing policies for tourism recovery.

All functions within the company, regardless of its size and activity, meet with an extremely dynamic economy and an environment in which they perform many day-to-day activities. In that sense, procurement is no different. It no longer serves only the purpose of ordering goods or services at the request of production at the lowest possible prices. Today's modern procurement systems offer solutions, improvements and thoughts on all aspects of business operations in which they are involved. There is a special emphasis on the dynamic resolution of challenging situations, which lies in unpredictable circumstances and crisis. The procurement department always works closely with other functions that directly affect production, and this is where extremely dynamic, high-quality and timely communication is expected. Communication with functions within the company is followed by communication with partners, where procurement becomes a sort of link between production and suppliers. Members of the procurement team are in most cases representatives of their companies, and it is based on their communication skills, behaviour and decisions that the image of the company is created among partners. Quality and timely communication of procurement team members with partners can play a key role for the continuation of production in turbulent market situations. Managers must organize all procurement processes in a quality manner, as well as motivate, educate and reward members of the procurement department. With their comments, opinions, advice and experience, partners offer an additional perspective, solution and an alternative path in the further planning of steps which would help achieve all of company's objectives. Experienced management, especially in times of crisis, use all possible information to make quality decisions, but also learn from these situations in order to make all possible preparations in regular business operations to minimize the shock that a new crisis could cause. The theoretical part of the paper will present a description of the concept of procurement business, management and crisis management, business and crisis communication, creating partnerships, and maintaining the company's image. The empirical research, conducted through questionnaires which were filled in by employees from the procurement department in the Republic of Croatia, provides us with answers about the importance of partnerships, with a special emphasis on the current coronavirus pandemic. In conclusion, we have explained proposals for improving and maintaining partnerships in the procurement business during crisis, as well as in regular business situations.

Due to the pandemic crisis, the decline in cross-border travel has caused deterioration of consumption and induced the collapse of domestic consumption. Finally, the drop of the consumption in travel service affected the travel trade balance and caused decline of the economy. The aim of this paper is to analyze the impact of the pandemic shock on the touristic sector in Croatia and to measure the effect of this negative trend. The research will be conducted using the SVAR model to disclose pandemic shock. The analysis considers the effect of the pandemic shock on the performance of the tourism sector, what is approximated by CROBEX turist index. Also, the analysis tests the impact of pandemic shock on turnover of the hotel industry. The results confirm the large-scale shock in the touristic sector and implicate the importance of measuring shock in assessing future trends and proposing measures for economic recovery in Croatia.