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We show that in the EU there were diverse causes for the sovereign debt crisis. Yet, fiscal austerity was hastily imposed assuming that the multiplier would be weak and fiscal consolidation could quickly be achieved. Yet, it turned out that fiscal consolidation is state dependent: It is...
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The COVID crisis has severely hit both the United States and the European Union. Even though they are the wealthiest regions in the world, they differ substantially in economic performance, demographic characteristics, type of government, health systems, and measures undertaken to counteract...
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The effects that the economic crisis triggered by COVID-19 is having on unemployment could hardly differ more than in the United States and Europe. This divergence also applies to the political reactions to it. Whereas the 27 member states of the European Union (EU-27) managed to keep...
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It is widely admitted that markets are the main driving force of the economy but governments' intervention could, in some circumstances, improve on their outcomes. This book provides a structured analysis relating theoretical arguments, implementation approaches and effectiveness of industrial...
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In a number of European countries microfinance evolved from informal beginnings during the eighteenth and nineteenth …, microfinance meant financial intermediation between microsavings and microcredit, and was powered by intermediation. Legal … century when microfinance became part of the formal banking sector. In Germany, the former microfinance institutions now …
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