Recent economic crisis started from the American Housing. In 2005, the price of housing started to grow and for gaining more profit, the banks inclined to housing and provided applicants with lots of facilities. With the burst of price bubbles, intense reduction of prices occurred in the housing...

In this paper we describe the main causes of recent financial crisis as a result of many theoretical, methodological, and practical shortcomings mostly according to heterodox, but also including some important orthodox economists. At the theoretical level, there are problems concerning teaching...

Following the US financial crisis of 2006-2007, the global economy suffered from negative spillover effects of it since fall 2008. In this study, the effects of global financial crsis on Turkish economy (2008-2010) and the macroeconomic performance of the Turkish government (before and) during...

Recent experience of the great recession of 2008 has renewed one of the oldest debates in economics: whether economics could ever become a scientific discipline like physics. This paper proves that economics is truly a branch of physics by establishing for the first time a fundamental equation...

As economic conditions in the United States have faltered, the impact on the Mexican economy has been negative. The short-term consensus projections for Mexico reflect this and suggest that the downturn is not likely to loosen its grip on the Mexican economy until the second half of 2009 or even...

The National Economic Institute in Iceland was a government institute responsible for producing and publishing a national economic forecast. The institute was closed in 2002. This paper measures the accuracy of the institute's forecasts from 1981-2002. The paper measures the accuracy of the GDP...

Recent experience of the great recession of 2008 has renewed one of the oldest debates in economics: whether economics could ever become a scientific discipline like physics. This paper proves that economics is truly a branch of physics by establishing for the first time a fundamental equation...

This paper presents evidence that accounting (or flow-of-fund) macroeconomic models helped anticipate the credit crisis and economic recession. Equilibrium models ubiquitous in mainstream policy and research did not. This study identifies core differences, traces their intellectual pedigrees,...

Article introduces the notion of information money fields of the cyclic oscillations of the economic variables in the nonlinear dynamic economic system for the first time, and presents an original research on the Ledenyov theory on the information money fields of the cyclic oscillations of the...

Article introduces the notion of information money fields of the cyclic oscillations of the economic variables in the nonlinear dynamic economic system for the first time, and presents an original research on the Ledenyov theory on the information money fields of the cyclic oscillations of the...