This article addresses the origins and development of the present financial and real economic? crisis (2008-2009). It is shown how abundant liquidity and easy credit in the US housing market inflated world financial markets with credit-based bonds whose risk was largely underestimated. When the...

This paper investigates why Europe fared particularly poorly in the global economic crisis that began in August 2007. It questions the self-portrait of Europe as the victim of external shocks, pushed off track by reckless policies pursued elsewhere. It argues instead that Europe had not only...

This paper sets out to investigate the forces and conditions that led to the emergence of global imbalances preceding the worldwide crisis of 2007–09, and both the likelihood and the potential sustainability of reemerging global imbalances as the world economy recovers from that crisis. The...

We describe the size and timing for comprehensive as well as decomposed measures of unemployment. We then test for and confirm a change in the structural rate of unemployment by finding structural breaks in the Okun and Beveridge relations. Finally, we employ existing empirical models to examine...

The economic crisis affecting the industrialised countries in recent years has been singular given its intensity, complexity and the difficulties in overcoming it. The aim of this paper is to analyse the determinants behind the crisis that have made it deeper and longer in Spain than in previous...

This paper briefl y describes some features of the situation of the Spanish economy after five years of crisis, a task which is easier now that this period can be analysed from a certain perspective. The crisis prompted a substantial readjustment of the main Spanish macroeconomic aggregates,...

Croatia is becoming the 28th member of the European Union on July 1st, 2013. Croatia has gone a long way from a socialist republic to an independent country recognized as one of the economic tigers of the Western Balkans in the first decade of the 21st century. Croatia has been hit by the global...

Croatia is becoming the 28th member of the European Union on July 1st, 2013. Croatia has gone a long way from a socialist republic to an independent country recognized as one of the economic tigers of the Western Balkans in the first decade of the 21st century. Croatia has been hit by the global...

Gender equality is a basic human right and is as such a part of the social policy framework. At the same time, it is a multi-faceted concept with its cultural, social, legal, political and economic dimensions and interrelations. The prevalent practice in most countries illustrates that...

The purpose of the paper is to firstly provide a conceptual perspective on the existing European economic environment and secondly, to delineate the disastrous economic policies responsible for derailing the entire Greek economic establishment.The study expounds upon the very framework that EU...