Spain is currently facing its worst crisis in the last fifty years. The crisis began as an extension of the international financial crisis, but the internal imbalances accumulated in the pre-crisis period aggravated the situation. At present their incomplete adjustment is making difficult the...

Since the Lehman Brothers Bank has declared bankruptcy and launched the world financial crisis, many governments and international institutions have taken different actions in order to counteract negative effects of the crisis. European Union introduced the European Economic Recovery Plan for...

One of the most often committed mistakes in economic reasoning is the supposition about the continuity of economic processes. However, what dominates in reality is a process of permanent changes, which sometimes proceed in a cascading manner rather than linearly. It must be acknowledged that the...

We examine the international transmission of liquidity shocks from multinational bank holding companies to their subsidiaries during the financial crisis of 2008. Our results demonstrate that a subsidiary's reduction in lending is strongly related to its parent bank's lending via the interbank...

A fines de 1982 Bolivia recuperaba la democracia después de un largo periodo de gobiernos, mayormente militares. El primer gobierno democrático, presidido por el Dr. Hernán Siles Zuazo, heredó de los gobiernos militares una economía muy deteriorada, marcada por la crisis de deuda externa....

This paper is based on finding the characteristics that could have made the crises in weaker Eurozone economies forecastable based on lagged time series analysed as a set of binary models estimated with the extreme value approach which is suitable for irregular non stationary data on rare...