Publications
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Peace in Ukraine: A chance for a new beginning
This is part of a paper prepared for the meeting at the Scientific Society of Serbian Economists in September 2025 on the topic of “Turbulence in International Economic Relations”. The core of the paper is a proposal for achieving lasting peace and free trade in Europe.
First published in:
“Samo Evropljani mogu da okončaju rat”, Radar, 15.maj 2025. str.49-51.
Fiscal Paradox in Serbia: Appearance or Reality
This paper analyzes the impact of tax instruments on GDP growth (tax on wages and profits, VAT, excise taxes and social contributions), as well as the corresponding impact of government spending on growth (public spending and public investments). A paradox has been observed: the growth of the tax burden coincides with the growth of GDP, while the growth of government spending reduces GDP growth. For the analysis of these findings, a DSGE model of Serbia was applied and corresponding fiscal policy simulated.
First published in:
Fiskalni paradoks u Srbiji: Privid ili realnost, Zbornik radova, 19. Međunarodni simpozijum o korporativnom upravljanju, Banja Vrućica, maj, 2025, Finrar i Ekonomski fakultet Banja Luka, str.51-74
From Neoliberal to Strategic Competition: What will happen to Serbia?
The current crisis of globalization is called deglobalization, and it takes place as strategic competition between the leading economies of the world replaces liberal competition. In such circumstances, the options facing Serbia were examined, including lithium mining in the interest of European car production.
First published in:
“From Neoliberal to Strategic Competition: What will happen to Serbia?”, Economics of Enterprise, 5-6, 2024, pp. 253-267, DOI: 10.5937/EKOPRE2406253L
Analysis of the Serbian Growth Model implemented during the past decade (2010-2022) and Towards a New Growth Strategy
This paper has two parts. The first part, “Analysis of the Serbian Growth Model implemented during the past decade (2010-2022)”, examined the economic growth of Serbia in the period 2010-2022 to determine the advantages and weaknesses of the existing model of economic development. In the second part, “Towards a New Growth Strategy”, recommendations are given as to what could be changed in the future development strategy, including not only the elimination of perceived flaws from the past but also the setting of new priorities following the goals of the European Green Deal 2050.
First published in:
This report is commissioned for the EU program “Support to planning, programming and coordination related to EU and other financial assistance PPF 10”, February 2024.
The Financial Landscape for Implementing the 2030 Agenda for Sustainable Development in Serbia
This document applies the following methodology: It starts with the four-block of the financial landscape, defines three macro-economic deficits and saving-investment balance, quantifies SDG targets, sets the conditional saving gap and estimates extra funding in line with the SDGs.
First published in:
This document was commissioned for the United Nations in Serbia in April 2021.
The Financial Landscape for Implementing the 2030 Agenda for Sustainable Development in Serbia: PPT Summary
This is the ppt summary of the document “The Financial Landscape for Implementing the 2030 Agenda for Sustainable Development in Serbia”.
First published in:
This website in April 2021.
Monetary Transmission Channels in DSGE Models: Decomposition of Impulse Response Functions Approach
The paper presents decomposition of impulse response functions (IRFs) as a new diagnostic tool for dynamic stochastic general equilibrium (DSGE) models. This method works with any DSGE model of arbitrary complexity or theoretical background. It is also applicable to any policy transmission channels. The underlying software can handle decomposition of IRFs using both the first-order and the second-order approximation of Taylor series to equilibrium relations.
First published in:
Computational Economics (2019), 53:27-50, https://doi.org/10.1007/s106-017-9717–1, Springer Science + Business Media, LLC20l7.
Policy of Change and Economic Stabilization in Serbia
This paper was presented at the Forum on Serbia and Montenegro, hosted by the John F. Kennedy School of Government at Harvard University. It examines in detail the relationship between political changes in Serbia and the stabilisation of its economy. It calls for assistance through the Stability Pact Regional Funding Conference for Southeast Europe.