Practically, there is no human activity without being connected with some form of risk. A complexity of the activity is in a close connection with the risk level and, as a rule, the greater complexity leads to a greater risk. The importance of risk is stressed to a large extent in some sectors,...

This dissertation contributes to an increasing literature on macroeconomic instability in developing countries. It makes a critical review of the literature and classifies the sources of instability under exogenous and endogenous factors. It then argues that the impact of exogenous shocks is...

The paper builds on the Goodwin (1967) model which describes the distributive cycle of capitalist economies whereby mass unemployment is generated periodically through the conflict about income distribution between capital and labor. We add to this model a segmented labor market structure with...

The research on the relationship between macroeconomic stability and fiscal decentralization has been rather inconclusive about the benefits of fiscal decentralization. The current paper is the first to investigate the effect of fiscal decentralization on macroeconomic stability by using Misery...

The recent sovereign debt and subprime crises affected the world economy and highlighted the role and importance of policy coordination against adverse scenarios (price, demand, supply and external shocks, etc.). This paper asses the effectiveness of fiscal and monetary policy coordination, for...

Latin America has experienced an unprecedented period of macroeconomic stability and high economic growth between 2003 and 2008. The main aim of this paper is to analyse to what extent these more favourable conditions have been an opportunity for Latin American countries to recover their labour...

The Modigliani stability condition states that the slope of the LM curve must be algebraically greater than that of the IS curve for economic stability to occur. This paper mathematically demonstrates that this theorem's validity does not necessarily guarantee stability for the macroeconomic...

This paper seeks to empirically assess the impact of indirect tool of monetary control on macroeconomic stability in the Nigerian economy. Four key areas were modeled using a static model. Results from both static and dynamic models were presented and the latter model yields more consistent and...

This paper discusses the pros and cons of establishing a system of indexed bonds as a means of assisting employers in the event that governments (federal and/or provincial) should require them to adjust pension payments under the pension plans for inflation. The main body of this paper is...

In the last two decades there has been a worldwide interest in decentralization of government in all parts of the world. There are two main objectives that we tried to achieve through this study. Firstly, we tried to examine empirically the effects of decentralization on macroeconomic stability....