Introduction -- Origins of the Great Recession -- The theoretical framework that underpins the origins of the Great Recession -- Too much liquidity : the source of the trouble -- Anaemic recovery : the US housing market and the consumer -- Anaemic recovery : the vicious circle of consumption and...

A detailed and informed analysis of the current crisis facing the eurozone, examining the root causes and exploring the possible outcomes and uncertain future of the European Union and its currency. Chapters include case studies of Portugal, Ireland, Spain and Greece, as well as broader...

We contribute to the debate on whether the large U.S. federal budget deficits are sustainable in the long run. We model the U.S. government deficit per capita as a threshold autoregressive process. We find evidence that the U.S. budget deficit is sustainable in the long run and that economic...