This paper compares the fundamental postulates of neoclassic paradigm and Keynesian model withthe modern capitalism. It shows that neoclassic paradigm, which underlies economic structure ofmajor countries, is inadequate to the essence of market economy. The research concludes that thecurrent...

En este estudio se propone un análisis econométrico de la evolución del crédito bancario al sector privado con el objetivo de describir los ciclos de crédito e identificar, por ejemplo, las fases de crecimiento anormalmente bajo, como las que suelen asociarse con episodios de crisis...

The banking and currency crises of the last two decades inflictedsubstantial financial, economic, and social damage on thecountries in which they originated. In this work, the efficiencyof early warning indicators for these disastrous economic eventsis evaluated. An analysis of the traditional...

The purpose of this study is to explore the accuracy issue of the Input-Output model in quantifying the impacts of the 2007 economic crisis on a local tourism industry and economy. Though the model has been extensively used in the tourism impact analysis, its estimation accuracy is rarely...

This paper studies the process that led to the Argentine crisis. The crisis is understood as a major disappointment of previous expectations, indicated by widespread insolvencies and abrupt declines in consumption. The analysis concentrates on the sequence of public and private decisions, and...