Why are we rich and others poor? What is preventing the less-developed countries from catching up with the more developed? How did we become rich? Underlying these questions are more fundamental ones: What is the nature of economic progress? What are its causes? I seek the answers to these...

Many studies have estimated the growth effects of globalization where globalization was measured with a few economic variables, ignoring its social and political dimensions. Recently Dreher (2006) has developed a comprehensive measure of globalization with several variables from the economic,...

The aim of the article is to contribute to the discussion and research devoted to the evolution of the agri-food sector in the period of systemic transformation, Poland’s membership in the European Union, and globalization of the world economy. The evolution of the Polish agri-food sector,...

Recent economic developments. Supported by a large policy package, Serbia's economy rebounded quickly from the initial COVID-19 shock, recording a 1 percent contraction of real GDP in 2020. Job losses have mostly been contained to the informal sector, thanks to policy measures aimed at...

The Eurozone crisis mobilises an appreciable amount of the attention of politicians and the public, with calls for a decisive defence of the euro, because the single currency's demise is said to be the beginning of the end of the EU and Single European Market. In our view, preserving the euro...

The paper uses quarterly GDP data for some 30 years up to and including 2001, to examine the identity and development of the European business cycle. Cycles are identified by using a band-pass filter version of the Hodrick-Prescott filter and affiliations are examined using clustering techniques...

In this paper I outline – from a practitioner's as well as from a researcher's perspective – several of the key developments that took place during the last century in monetary policy. In particular, I describe how the monetary system evolved from gold standard, prevailing throughout most of...

We examine the degree of market power in the big four countries of the euro area using macro and firm micro data. We focus on three main indicators of market power in and across countries: namely, the concentration ratios, the markup and the degree of economic dynamism. For the macro database we...

Using panel data analysis, it will be pointed out that in Europe for the period 1999-2014 the female penetration in total employment fosters firm profitability, mainly in the southern countries, while federal system of governance does not matter regarding firm profitability. The econometric...

Since the Global Financial Crisis, there have been two parallel issues faced by the Eurozone, Stagnation and TARGET2 imbalances. This study analyses the aspect of settling TARGET2 in an equitable and fair manner that could also resolve the issues of sluggish growth, deflation and high...