The past two years have been largely defined by an unforeseen threat from the emergence of COVID-19 pandemic. It has had a huge impact on economic development individual countries. SMEs as important contributors to economy countries felt negative effects pandemic most. Our research intends examine macroeconomic changes caused in Visegrad Four using comparative analysis. paper is based summary l...

Abstract The article uses spline-based phase analysis to study the dynamics of a time series low-frequency data on values certain economic indicator. approach includes two stages. At first stage, original is approximated by smooth twice-differentiable function. Natural cubic splines are used as an approximating function y </m:ma...

In this paper, we argue that there is no compelling reason for restricting the class of multivariate models considered for macroeconomic forecasting to VARs given the recent advances in VARMA modelling methodology and improvements in computing power. To support this claim, we use real macroeconomic data and show that VARMA models forecast macroeconomic variables more accurately than VAR models.

During the past 30 years, the U.S. economy, along with the economies of other industrialized countries, has experienced several noticeable trends: an economic slowdown, a tremendous increase in the amount of information technology investment, and a increasing flow of workers from production to information sectors. With slow economic growth and fast IT capital accumulation, the so-called “inform...

There was a palpable sense of excitement among the economists who met in Philadelphia in 1969 at the conference organized by Edmund Phelps. Their research over the preceding years had coalesced into a new approach to macroeconomic analysis, one that based macrorelationships on explicit microfoundations. These foundations’ distinctive feature was to accord market participants’ expectations an au...