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This article presents and critically evaluates the Greek sovereign defaults and puts them into historical perspective. More specifically, each of the four defaults of the Greek State (1827, 1843, 1893 and 1932) was not an isolated episode in the turbulent economic history of capitalism, but...
Persistent link: https://www.econbiz.de/10011259342
Review of the book titled 'Rethinking Housing Bubbles The Role of Household and Bank Balance Sheets in Modeling Economic Cycles' by Steven D. Gjerstad and Vernon L. Smith. Published by Cambridge University Press in May 2014.
Persistent link: https://www.econbiz.de/10011108471
In his Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith (1776) considered the phenomenon of division of labor so enormously significant for the creation of a nation’s wealth that he devoted the first three chapters of his book to an investigation of this process. This is...
Persistent link: https://www.econbiz.de/10008596380
For much of human history, most people have been deprived of liberty without economic and investment opportunities being driven by poor living. Today, however, say that living in the most prosperous in history. In trying to remove poverty, disease, ignorance around the world, given the fact that...
Persistent link: https://www.econbiz.de/10011157032
The last decade witnessed an unprecedented economic growth in Emerging Market Economies (EMEs). EMEs have also been the main drivers of growth in the recovery following the global financial crisis. Nevertheless, EMEs continue to face a number of institutional and structural challenges that may...
Persistent link: https://www.econbiz.de/10011260755
This paper investigates the possibility of conducting an unconventional monetary policy of Quantitative easing (QE) at high interest rates using the example and experience of Russia. The Central Bank of the Russian Federation has raised the key interest rate on three occasions during the 7...
Persistent link: https://www.econbiz.de/10011109596
This paper investigates the possibility of conducting an unconventional monetary policy of Quantitative easing (QE) at high interest rates using the example and experience of Russia. The Central Bank of the Russian Federation has raised the key interest rate on six occasions during the 12 months...
Persistent link: https://www.econbiz.de/10011110135
This paper examines why commercial banks in Guyana demand non-remunerated excess reserves, a phenomenon that became even more widespread after financial liberalisation. Despite the removal of capital controls, banks do not invest all excess reserves in a safe foreign asset because the central...
Persistent link: https://www.econbiz.de/10011260547
The economic and institutional structure required for successful adoption and implementation of Inflation Targeting (IT) framework is often lacking in Emerging economies. In this paper, we evaluate these structures for the economy of Pakistan both qualitatively and quantitatively. Although our...
Persistent link: https://www.econbiz.de/10008536062
This paper aims to measure and compare the economic performance of four Asian economies who adopted Inflation Targeting (Indonesia, Philippines, South Korea and Thailand) against their six neighboring Asian non-targeting economies (China, Hong Kong, India, Malaysia, Singapore and Pakistan)....
Persistent link: https://www.econbiz.de/10008497655