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The latest Press Release features Katarina Ott’s Comments on the 2017 State Budget Proposal with Projections for 2018-19, submitted by Croatian Government for parliamentary procedure on 8 December. Although the document definitely deserves endorsement, if only for the tight deadlines, it is a pity that the Government missed the opportunity to use its first term of office and its first budget, as well as the recent economic upturn and even slight growth of optimism in the country, for starting more aggressive fiscal consolidation.
In the new issue of Financial Theory and Practice you can read the article In search of the egalitarian syndrome: cultural inertia in Croatia? written by Ivan Burić and Aleksandar Štulhofer which analyses the egalitarian syndrome, its existence and connection with indicators of development of the county. Authors point that size of residence, education and professional status, rather than age of participants, are significant predictors of acceptance value system "radical egalitarianism". The article was judged the best paper in the regular category in the annual competition for the Prof. Dr. Marijan Hanžeković Prize for 2016. Mateo Žokalj in the article The impact of population aging on public finance in the European Union deals with the influence of population aging on certain categories of state budgets, as well as on the overall budget balance. Analyzing the fiscal effects of demographic changes using panel data of 25 EU countries in the period from 1995 to 2014, author indicates significant impacts of demographic aging on spending on pensions and social protection. The article was judged the best paper in the student category in the annual competition for the Prof. Dr. Marijan Hanžeković Prize for 2016. Yaniv Azoulay, Andrey Kudryavtsev and Shosh Shahrabani in the article Accumulating approach to the life-cycle pension model: practical advantages examine how to enhance the practical advantages of the life-cycle pension model. Authors suggest an "accumulating" approach, according to which, the member's previously accumulated wealth continues to be invested in the same fund, while his new regular pension contributions start being directed to another (less risky) fund. Sonja Engeli Pippin and Mehmet Serkan Tosun in the article Tax harmonization in the European Union and the eurozone: a multilateral analysis of tax systems compare tax systems of EU member states and those countries in the eurozone with other OECD countries measuring countries’ overall tax burden, income tax reliance, and fiscal decentralization as well as some “non-rate” variables related to tax administration and enforcement. Predrag Bejaković reviews the book Limits of a Post-Soviet State: How Informality Replaces, Renegotiates, and Reshapes Governance in Contemporary Ukraine (Abel Polese).