Different strokes for different folks: untangling supply and demand shocks using survey-data to assess sectoral inflationary pressures in Croatia
https://doi.org/10.3326/pse.50.1.2 | Published online: March 18, 2026 Figure 1
Output gaps (in % of potential GDP), total HICP inflation (YoY, %) in Croatia Figure 2
Output gap in Croatia according to accumulated domestic and external demand shocks to real GDP (%, percentage points) Figure 3
Total HICP, Core HICP(X), HICP services, HICP goods for Croatia (YoY, %) Figure 4
Factors limiting production in services for Croatia (% of firms claiming specific factors limiting production) Figure 5
Factors limiting production in manufacturing for Croatia (% of firms claiming specific factors limiting production) Table 1
Survey-based sectoral factors limiting production regressions Table 2
Survey-based sectoral output gap regressions Figure 6
Output gap for services and manufacturing in Croatia (%) Figure 7
Survey-based output gap in services for Croatia (%, percentage points) Figure 8
Survey-based output gap in manufacturing for Croatia (%, percentage points) Figure 9
Decomposition of change in general government balance (% of GDP) in Croatia (percentage points) Figure 10
Average gross wages, annual % Figure 11
Average gross wages, levels (in euro) Figure 12
Real compensation per employee and real productivity growth rate (YoY, %) Table A1
Data and sources Figure A1
Potential GDP in Croatia with different filters (mil. euro) Table A2
Restrictions for identification of structural shocks Figure A2
Cumulative impulse responses of annual change in real GDP and annual inflation rate (HICP) to domestic (Croatian) demand and supply shocks for Croatia and Euro area Figure A3
Cumulative impulse responses of annual change in real GDP and annual inflation rate (HICP) to external (euro area) demand and supply shocks for Croatia and Euro area Figure A4
Historical decomposition of annual change in HICP for Croatia (%, percentage points) Figure A5
Historical decomposition of annual change in real GDP for Croatia (%, percentage points) Figure A6
Historical decomposition of annual change in HICP for Euro area (%, percentage points) Figure A7
Historical decomposition of annual change in real GDP for Euro area (%, percentage points) Figure A8
Aggregate and sectoral output gap in Croatia (% of potential GDP) Figure A9
Sectoral inflation rate and output gap in Croatia (%) Figure A10
Uses of RRF in the EU (% of GDP) Figure A11
Decomposition of change in employment in Croatia (percentage points) This is an Open Access article distributed under a Creative Commons Attribution-NonCommercial 4.0 International License (CC-BY-NC) which permits non commercial use and redistribution, as long as you give appropriate credit, provide a link to the license, and indicate if changes were made.
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March, 2026 I/2026 |
