Iceland experienced a significant financial meltdown and subsequent economic downturn after the 2008/2009 financial crisis struck the country. It had been the worst crisis ever experienced by a small country from the late 20th century onwards. Since 1980s, Iceland's macroeconomic stability had...

This paper investigates the dynamic implications of Krugman’s (1999) model of financial crises with balance-sheet effects, which has a considerable impact on the literature as well as the teaching of international financial crisis. By explicitly taking account of wealth accumulation and...

As well as a consideration of why the lender of last resort facility should be used for emergency situations and systemically relevant institutions in particular, an interesting point which will be considered in this paper is the comparison between the European Central Bank (ECB) Recommendation...

Abstract The monetary policy, especially the American one, can be blamed for the remote role (2002-2004) it played in the creation of the speculative bubble which led to a financial crisis. It also has a part of the responsibility through its restrictive direction during the 2004-2006 period;...

The recent crises concerning food and finances highlight the extreme fragility of the MENA countries and question the sustainability of the development processes. The economic and social impacts of these crises on the economies of the MENA region signal the magnitude of the challenges facing the...

The recent crisis should not be used to prouve the failure of the entire financial system. Global banking systems are regulated by rules, that have not been applied correctly all over the place. And just one "hole" in the regulatory net is sufficient to make it useless.

It is likely that such a crisis could not be born somewhere else only in the United States. The "current financial disaster" is the fruit of the combination of specific factors in the US, where elements were gathered to catalyse such a crisis, like, someway, some "primal soup" where were...

We study the impact of foreign banks' presence in Central and Eastern Europe's countries on their economic development and on the financial crisis they went through. We show that, despite a certain vulnerability of the domestic banking systems, the consequences of the opening of the banking...

In this brief meditation, financial crisis is described as coming from a deeper crisis on economic theory and its teaching in colleges and universities. Larger studies of the economy towards applied fields of social sciences, is the challenge of the present.