This paper investigates the influence of international openness on economic growth in a sample of 32 European economies. The usual approach in the literature on the topic is to observe the impact of trade openness on growth. We, however, broaden this standard approach and analyse not only...

The global economic crisis has had a major impact on the economies of EU Member States, among other things, public sector budget deficits and public debt levels have risen dramatically. This has been reflected also on the budgets of the European Union (EU) that had become tighter and raise the...

The regional studies have shown that regional disparities within the countries appear to persist or even to grow. One of the most important indicators of the disparities is regional wage level. It is widely accepted that spatial effects have a different impact among sectors in developed...

This paper investigates the influence of international openness on economic growth in a sample of 32 European economies. The usual approach in the literature on the topic is to observe the impact of trade openness on growth. We, however, broaden this standard approach and analyse not only...

This paper investigates the influence of international openness on economic growth in a sample of 32 European economies. The usual approach in the literature on the topic is to observe the impact of trade openness on growth. We, however, broaden this standard approach and analyse not only...

This review concentrates on the role of information asymmetry in financial markets in amplification and propagation of short-run output fluctuations. We find that the so-called Financial Accelerator effect provides a consistent, first principle based, theoretical framework for the analysis of...

This study explores cross-country variations in the effects of a monetary policy shock on output using the sample of 48 developed and developing countries. The structural vector autoregression model is used to estimate monetary policy effects for each country separately. Based on the estimated...

The decades preceding the outbreak of the financial crisis in August of 2007 were a period of exceptional stability for the US economy. A number of studies over the past decade proposed different theoretical rationales and underpinning empirical evidence to explain the so-called Great...