Arguments for and Against Retaining Exchange Rate Regime: An Empirical Analysis for Republic of Macedonia

Abstract

1005 Contribution/ OriginalityThis study is one of very few studies which have investigated how the exchange rate regime can improve the situation of Macedonia on the road into the EU. The study contributes to the existing literature in the sense that it used VECM estimation model to estimate collected data and to analyze the causes that throw more light on how Macedonia can benefit from the type of exchange rate regime.