Romania's communist regime used forced industrialization and urbanization policies as a solution for speeding-up the pace of development in the lagging areas, which resulted in reducing regional disparities. However, after 1989 there areas were the first that suffered the hardships of economic...

Even if it has not a legal status yet, the Bucharest Metropolitan Area (BMA) project is in an advanced preparation phase, already producing effects in the real economy. Conventionally, BMA imbeds the entire Ilfov county (which surrounds it and form together the Bucharest-Ilfov region (NUTS 2))...

The current research has concentrated on the following questions: What are the trends in restructuring Suceava's economy and which regional development factors were the most important (exogenous, endogenous, structural, socio-political ones, etc.)? Which is the relationship between social...

The monetarist counterrevolution and the stagflation period of the 1970s were among the theoretical and practical developments that led to the rejection of fiscal policy as a useful tool for macroeconomic stabilization and full employment determination. Recent mainstream contributions, however,...

This paper argues that John Maynard Keynes had a targeted (as contrasted with aggregate) demand approach to full employment. Modern policies, which aim to close the demand gap,ʺ are inconsistent with the Keynesian approach on both theoretical and methodological grounds. Aggregate demand tends...

The paper evaluates the fiscal policy initiatives during the Great Recession in the United States. It argues that, although the nonconventional fiscal policies targeted at the financial sector dwarfed the conventional countercyclical stabilization efforts directed toward the real sector, the...

The literature on public employment policies such as the job guarantee (JG) and the employer of last resort (ELR) often emphasizes their macroeconomic stabilization effects. But carefully designed and implemented policies like these can also have profound social transformative effects. In...

This paper augments the basic Post-Keynesian markup model to examine the effects of different fiscal policies on prices and income distribution. This is an approach à la Hyman P. Minsky, who argued that in the modern era, government is both 'a blessing and a curse', since it stabilizes profits...

The present paper offers a fundamental critique of fiscal policy as it is understood in theory and exercised in practice. Two specific demand-side stabilization methods are examined here: conventional pump priming and the new designation of fiscal policy effectiveness found in the New Consensus...

This paper examines two key aspects of unemployment-its propagation mechanism and socioeconomic costs. It identifies a key feature of this macroeconomic phenomenon: it behaves like a disease. A detailed assessment of the transmission mechanism and the existing pecuniary and nonpecuniary costs of...