The present paper reviews the causes that led to the financial crisis. Unlike other interpretations, this paper does not place main significance on a single source or on a set of causes. I consider all major standpoints highlighted by research and media prior, during and after the financial...

This paper is the basis for the Guest Columnist article in the Tuesday, November 11, 2008 issue of the Kansas City Star newspaper's Business Weekly. Because of space limitations, the published newspaper column had to be shortened from the original and unfortunately did not include either of the...

This paper attempts to assess the economic significance and implications of collateralization in different financial markets, which is essentially a matter of theoretical justification and empirical verification. We present a comprehensive theoretical framework that allows for collateralization...

Tim Xiao: This paper attempts to assess the economic significance and implications of collateralization in different financial markets, which is essentially a matter of theoretical justification and empirical verification. We present a comprehensive theoretical framework that allows for...

Following the financial crisis effects, the issue of debt sustainability became of global importance, even for international security reasons. In the EU, despite post-crisis fiscal austerity measures aimed at rebalancing the public finances, the debt-to-GDP ratio continued to deteriorate. At...

Under the global crisis impact the structure of international trade flows witnessed significant changes. In the case of Romania, paradoxically for an emerging country, in terms of product composition during 2007-2010, the share of capital goods decreased in total imports and increased in total...

Developments in the information and communication technologies have been causing significant changes on the working mechanisms of the economy both at the national and international areas. Some of the developments can be indicated as follows: the dramatic increasing of capital movements amongst...

In contrast to Robert Mundell‘s Optimum Currency Area theory and his recommendation of forming a monetary union, the economic fundamentals of Euro area member countries have not harmonized. The opposite holds: the Euro core countries - most of all Germany, but also the Netherlands and Finland...

Developments in the information and communication technologies have been causing significant changes on the working mechanisms of the economy both at the national and international areas. Some of the developments can be indicated as follows: the dramatic increasing of capital movements amongst...

The U.S. mortgage loan foreclosure crisis has become the biggest risk facing the U.S. economy. In August 2007, the National Association of Business Economists named the combined effects of subprime debt defaults and excessive personal and corporate debt as the greatest short-term threat to the...