Global modeling has evolved remarkable in the last two decades. Such evolution led global modeling to perform today's role as an experimental laboratory for the social sciences, and particularly for applications to policy planning. Two of the most interesting applications to policy are to...

Within the context of the Sustainable Development Goals (SDGs), the gender equality in education is considered one of the most challenging goals for most developing economies. Using Panel Least Square with Regional Dummies (LSDV) for a sample of Developing countries over the period 1990 to 2014,...

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...

The financial crisis which erupted in the United States of America in 2007 drove the real economic sector into a crisis that has diminshed the world’s economic growth thereafter. There is no single theory that can explain what has happened in the US. Eventhough there were a few financial...

“If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.” (Keynes, 1931). Then macroeconomics would transform into a useful and routine type of engineering, which will prevent the emerging of recessions. However,...

The paper analyzes how organized crime affects the economy through its impact on the effective demand, following the Neo-Kaleckian approach. From this perspective, the presence of organized crime, on the one hand, tends to reduce the effective demand draining resources through extortion,...

Following methodological approach proposed by Edwards, the paper estimates empirically Russia's equilibrium real exchange rate (ERER) for the period 1995–2003. ERER is defined as the relative price of non-tradables to tradables consistent with the simultaneous achievement of internal and...

Compared regionally, Republic of Macedonia has one of the highest levels of grey economy activity. According to some estimations, it accounts for about 40% of GDP. This high level of grey economy has a direct influence to the main economic indicators, categories and instruments for macroeconomic...