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We extended the Cole and Kehoe model (1996) by adding trade and debt denominated in national currency. We then evaluated some external debt defaults and steep national currency devaluations occurred during last decades. Although default is unlikely, steep devaluation has been repeatedly...
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of economic freedom, and the risk and characteristics of economic crisis. After offering some brief theoretical … considerations, I estimate the effects of economic freedom on crisis risk in the post-Cold War period 1993-2010. I further estimate … period. Estimates suggest that economic freedom is robustly associated with smaller peak-to-trough ratios and shorter …
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into ‘economic government' threatening not only economic disaster but the end of the world's first supranational project … ahead to new cosmopolitan possibilities freed from the twentieth century experiences of world war and economic depression …. What are at stake are the basic social arrangements created in the post-World War era for sharing the wealth, the burdens …
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Risikovermeidung scheint aktuell das Patentrezept für die Lösung all unserer Probleme zu sein. Zentralbanken ertränken die Gefahren unseres Wirtschafts- und Bankensystems mit Unmengen an Geld, und auch die Politik versucht, gesellschaftliche Missstände mit grosszügigen Geschenken unter den...
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