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This paper examines several mainstream explanations of the financial crisis and stagnation and the role they attribute … financial crisis and stagnation, making it critical we get the story right. … Stagnation sowie die Rolle, die sie der Einkommensungleichheit zuschreiben. Diesen Erklärungen wird eine strukturelle …
Persistent link: https://www.econbiz.de/10010526792
stagnation that attribute those events to the policies recommended and justified by the profession. Such theories are … legitimize those theories. That resistance has contributed to blocking the politics and policies needed to address stagnation …
Persistent link: https://www.econbiz.de/10011979232
is unemployment, wage stagnation and wild increases in asset prices, especially equities, are incongruent. Yet central …
Persistent link: https://www.econbiz.de/10012930966
The outburst of the 2008 global economic crisis sparked myriad criticism on mainstream neoclassical economic theory, which is blamed for not even have considered the possibility of the kind of collapse that the subprime mortgage meltdown unleashed. In this paper, it is argued that what happened...
Persistent link: https://www.econbiz.de/10013134875
This paper argues that the re-emergence of stagnation tendencies in modern capitalism can be related to … Eurozone and its main member countries, imposes an aggregation problem on the global economy and thus contributes to stagnation …
Persistent link: https://www.econbiz.de/10011661571
Europe’s financial landscape has substantial institutional variety. This reflects different societal responses to (or preferences with regard to) trade-offs. For monetary policy, it implies a challenging environment, particularly in times of financial crises. Using a non-linear VAR-model we...
Persistent link: https://www.econbiz.de/10012051208
Persistent link: https://www.econbiz.de/10011418071
In this article we underline the effects of the crisis that erupted in the U.S. in 2008, due to financial hazard, and then spread everywhere, to assess how the euro zone (EMU) and its countries have acted. We will consider two periods that the EMU has passed through, each characterized by a...
Persistent link: https://www.econbiz.de/10013120080
Referring to the role credit-rating agencies played in the most recent global financial crisis, the Financial Crisis Inquiry Commission – FCIC concluded that “… the failures of credit rating agencies were essential cogs in the wheel of financial destruction.” The reasons for such...
Persistent link: https://www.econbiz.de/10012864995
This paper analyzes the Euro crisis in light of the experience of center-periphery relations over the last 40 years of renewed financial globalization. The crisis shows the characteristic pattern evident in so many other crises in the developing world: i.e. “boom” and “bust” phases of...
Persistent link: https://www.econbiz.de/10012978352