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Financial flows and international imbalances : the role of catching up by late-industrializing developing countries

Kregel, Jan A. (contributor) - 2008

While the traditional approach to the adjustment of international imbalances assumes industrialized countries at a similar level of development and with similar production structures, such imbalances have historically been the result of a process of catching up by late-industrializing developing...

Persistent link: https://www.econbiz.de/10003727278

Minsky crisis

Wray, L. Randall - 2011

Stability is destabilizing. These three words concisely capture the insight that underlies Hyman Minsky's analysis of the economy's transformation over the entire postwar period. The basic thesis is that the dynamic forces of a capitalist economy are explosive and must be contained by...

Persistent link: https://www.econbiz.de/10008906540

Disaggregating the resource curse : is the curse more difficult to dispel in oil states than in mineral states?

Azarchs, Timothy; Khitarishvili, Tamar - 2010

The hypothesis of the natural resource curse has captivated the economics profession, and since the mid-1990s has generated a large body of policymaking initiatives aimed at dispelling the curse. In this paper, we evaluate how the effect of resource abundance on economic growth has changed since...

Persistent link: https://www.econbiz.de/10008759440

Real Convergence in the Euro Area : A Long-Term Perspective

Diaz del Hoyo, Juan Luis - 2017

that of higher-income economies since the start of monetary union. The significant real convergence performance of some of … view” and reviewing the evidence since the 1960s, this paper shows that certain member countries began to face a “non-convergence … driving real convergence in the euro area over time, alongside other factors; and (ii) the crucial interaction of real …

Persistent link: https://www.econbiz.de/10012941989

The Transition of China to Sustainable Growth – Implications for the Global Economy and the Euro Area

Dieppe, Alistair - 2018

China's rise has been the economic success story of the past four decades but economic growth has been slowing and domestic imbalances have widened. This paper analyses the recent evolution of China's imbalances, the risks they pose to the economic outlook and the potential impact of a...

Persistent link: https://www.econbiz.de/10012928882

Does excessive sovereign debt really hurt growth? : A critique of This time is different, by Reinhart and Rogoff

Nersisyan, Yeva; Wray, L. Randall - 2010

The worst global downturn since the Great Depression has caused ballooning budget deficits in most nations, as tax revenues collapse and governments bail out financial institutions and attempt countercyclical fiscal policy. With notable exceptions, most economists accept the desirability of...

Persistent link: https://www.econbiz.de/10003975102

The "Keynesian moment" in policymaking, the perils ahead, and a flow-of-funds interpretation of fiscal policy

Terzi, Andrea - 2010

With the global crisis, the policy stance around the world has been shaken by massive government and central bank efforts to prevent the meltdown of markets, banks, and the economy. Fiscal packages, in varied sizes, have been adopted throughout the world after years of proclaimed fiscal...

Persistent link: https://www.econbiz.de/10008657988

The European Central Bank and why things are the way they are : a historic monetary policy pivot point and moment of (relative) clarity

Dubois, Robert - 2012

Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative...

Persistent link: https://www.econbiz.de/10009503821

Reorienting fiscal policy after the great recession

Tcherneva, Pavlina R. - 2012

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...

Persistent link: https://www.econbiz.de/10009532231

The euro crisis and the job guarantee : a proposal for Ireland

Wray, L. Randall - 2012

Euroland is in a crisis that is slowly but surely spreading from one periphery country to another; it will eventually reach the center. The blame is mostly heaped upon supposedly profligate consumption by Mediterraneans. But that surely cannot apply to Ireland and Iceland. In both cases, these...

Persistent link: https://www.econbiz.de/10009490197