International Journal of Economics, Management and Tourism

AIYAGARI, BEWLEY, HUGGETT, IMROHOROĞLU (ABHI) ECONOMIES: LITERATURE REVIEW AND COMPUTATIONAL EXAMPLES

Dushko Joshevski, Natasha Miteva, Tatjana Boshkov — Fri, 22 Dec 2023 11:06:23 +0000

This paper will review ABHI models in economics. Namely those are collection of models Aiyagari-Bewley-Hugget-Imrohoroglu economies where there is precautionary savings amongst the economic agents, liquidity constraints, and where Markets are exogenously incomplete. There is incompleteness by assumption as opposed to limited commitment and limited enforcement models. In Huggett (1993) model there is diminishing marginal savings rates for some agents and negative marginal savings rate for other agents with an increase in their wealth (assets). In the incomplete markets in general equilibrium cash-on hand is more in consumption with lower assets, this applies even more so in partial equilibrium model. And in the period with lowest: consumption, income and assets incomplete markets in partial equilibrium model predicts highest savings rate.

BRIEF HISTORICAL ACCOUNT OF THE HOTEL INDUSTRY IN BITOLA (On the occasion of 180 years since the first hotel in Bitola 1843)

Nikola Dimitrov — Fri, 22 Dec 2023 10:56:41 +0000

The occasion for this work is 180 years since the first hotel in the city of Bitola, in 1843. The text is supported by selected photos and a table through which a brief historical development of the accommodation facilities in the city in the last two centuries. The purpose of the research is to determine the appearance of the first hotel, other accommodation facilities, their classification, the division by types and time periods.

The first accommodation facilities were caravanserais and anns. From the middle of the 19th century, the first hotels appeared, and later other types of accommodation facilities appeared in the city. The entire paper is presented chronologically through six periods and follows the development of the hotel industry in the city of Bitola. The research uses several sources, archival documents, scientific and professional papers, monographs, books and interviews.

OVERVIEW OF ARTIFICIAL INTELLIGENCE (AI) APPLICATION IN THE BANKING INDUSTRY

Zoran Temelkov — Fri, 22 Dec 2023 00:00:00 +0000

Many factors have facilitated transformational changes in the banking industry in recent years. Among the most notable drivers of change are technological advances, particularly the development of AI-based solutions. The integration of AI and ML models has caused a significant transformation of banking operations and the overall banking industry. The rapid evolution of AI technology offered solutions for challenges found in traditional banking processes and operations. Consequently, key applications of AI solutions are identified in fraud detection, risk management, customer support, and regulatory compliance.

THE STRATEGIC DESIGN OF EUROCITY CHAVES-VERIN AS A TOURIST DESTINATION

Slavi Dimitrov — Fri, 22 Dec 2023 10:50:31 +0000

The creation and expansion of the European Union allows the development of tourism to benefit from cross-border cooperation between individual cities. In the given case, the cities of Chávez and Verín belong to different countries, Portugal and Spain respectively, but they have common historical ties, exchange and cooperation and experience in social relations. They are part of the Atlantic and are the first Eurocities in the Northwest of the Iberian Peninsula. Tourism can play an important role in building this new territorial development model.

GOVERNANCE THROUGH COOPERATION A NEW VISION OF CROSS-BORDER COOPERATION (EXAMPLE OF EUROCITY CHAVES-VERIN)

Tatyana Dimitrova — Fri, 22 Dec 2023 10:49:14 +0000

Within the European regions, the cross-border cooperation between Northern Portugal and Galicia is different, the established cultural position is strategic and particular. The mutual understanding between the two regions refers to past cooperation (tribes in Romanization, smuggling routes), which makes the mental border “thinner” and cooperation emerges as the main driver of local and regional development. Given the European vision, cross-border cooperation is seen as a tool to reduce differences between regions, promote convergence and integration