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Strengthening the Resilience of an Economy. Strategies to Prevent another Crisis

Aiginger, Karl - 2009

The financial crisis has affected the real economy in stages yet nevertheless at an unexpected rate and with all regions being affected simultaneously. It advanced almost independently of the regions' exposure to the actual initial causes, among them the subprime crisis, innovative financial...

Persistent link: https://www.econbiz.de/10011435262

Post Crisis Policy: Some Reflections of a Keynesian Economist

Aiginger, Karl - 2010

This paper compares the depth and length of the recent crisis with the Great Depression in the 1930s. It claims that economic policy played a crucial role in shortening and curtailing the recent crisis. We analyse which policies were applied during the recent crisis and which measures worked. We...

Persistent link: https://www.econbiz.de/10011435292

Why Labour Market Response Differed in the Great Recession: The Impact of Institutions and Policy

Aiginger, Karl; Horvath, Thomas; Mahringer, Helmut - 2011

This paper investigates the performance of labour markets during the recent crisis for 28 industrialised countries, specifically the reaction of employment and unemployment indicators relative to output changes. We construct a composite indicator for output as well as labour market performance....

Persistent link: https://www.econbiz.de/10011435322

The Great Recession vs. the Great Depression. Stylised Facts on Siblings that Were Given Different Foster Parents

Aiginger, Karl - 2009

This paper compares the depth of the recent crisis and the Great Depression. We use a new data set, namely seven activity indicators, to compare the drop in activity in industrialised countries. This is done under the assumption that the recent crisis levelled off in mid-2009 for production and...

Persistent link: https://www.econbiz.de/10011435273

The Current Economic Crisis: Causes, Cures and Consequences

Aiginger, Karl - 2009

production in the past 50 years. In the USA and Europe the decline in production over the entire economy was, however, much less … of the elements of the European Model (long-term orientation, stakeholder model) could serve as an example to the world …, even if the crisis management in Europe is not without fault, and despite the fact that in the USA and China economic …

Persistent link: https://www.econbiz.de/10011435278

Asset Price Fluctuations, Financial Crises and the Stabilizing Effects of a General Transaction Tax

Schulmeister, Stephan - 2009

The deepening of the recent crisis was driven by the simultaneous devaluation of stock wealth, housing wealth and commodity wealth. The potential for this devaluation process had been "built up" during the boom of stock prices, house prices and commodity prices between 2003 and 2007. Hence, this...

Persistent link: https://www.econbiz.de/10011435285

Why Performance Differed Across Countries in the Recent Crisis. How Country Performance in the Recent Crisis Depended on Pre-crisis Conditions

Aiginger, Karl - 2011

The growth performance of countries proved to be very different during the recent crisis. We apply principal component analysis to derive a single ordinal indicator on growth performance and to analyse whether initial conditions of economies or structural characteristics can explain the...

Persistent link: https://www.econbiz.de/10011435319

Competitive Economic Performance: The European View

Aiginger, Karl; Landesmann, Michael - 2002

Persistent link: https://www.econbiz.de/10011435097

A Primer on Financial System Meltdown. The Economists' View

Hahn, Franz R. - 2008

Ideologues are quick to explain the current financial meltdown: it's the markets, stupid. Economists agree but add: it's politics too, stupid. Ideologues agree but counter: first and foremost it's capitalism, stupid. Economists agree but reply: §$%&?!, stupid. This is where this short paper...

Persistent link: https://www.econbiz.de/10011435258

Macroeconomics, Financial Crisis and the Environment. Strategies for a Sustainability Transition

Antal, Miklós; van den Bergh, Jeroen C.J.M. - 2014

We raise fundamental questions about macroeconomics relevant to escaping the financial and economic crisis and shifting to a sustainable economy. First, the feasibility of decoupling environmental pressure from aggregate income is considered. Decoupling as a single environmental strategy is...

Persistent link: https://www.econbiz.de/10011435400