We analyse the background of the Greek debt crisis and evaluate the three Greek financial assistance programme. The crisis and the first programme's (2010-11) failure were mainly the result of misguided internal policies. The second programme (2012-14) achieved progress towards recovery but this...

We analyse the background of the Greek debt crisis and evaluate the three Greek financial assistance programme. The crisis and the first programme's (2010-11) failure were mainly the result of misguided internal policies. The second programme (2012-14) achieved progress towards recovery but this...

The global impact of the COVID-19 pandemic has been staggering, with over 4.3 million confirmed cases and over 290,000 deaths reported worldwide. In addition to the public health crisis, the pandemic has caused significant economic disruption, leading to fears of a global recession. The...

It has been over one year since the invasion of Russia into Ukraine in February 2022. Several sanctions were applied, and its effects on the global economy in general, and Russian and Ukrainian economy in particular were serious. This aims to review the economic impacts of Russia and Ukraine war...

We use an agent-based computational approach to show how inflation can worsen macroeconomic performance by disrupting the mechanism of exchange in a decentralized market economy. We find that increasing the trend rate of inflation above 3 percent has a substantial deleterious effect, but...

This theoretical contribution shows a simple way in which the quantity equation can be derived as a long-term equilibrium solution for the case of a closed economy and an open economy, respectively. It is shown first for the case of a closed economy which parameters stand behind "velocity" and...

The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the subsequent oil crisis. A brief critical survey of...

We use an agent-based computational approach to show how inflation can worsen macroeconomic performance by disrupting the mechanism of exchange in a decentralized market economy. We find that increasing the trend rate of inflation above 3 percent has a substantial deleterious effect, but...

The 2012-13 Budget, which provides for an increase in taxes of $ 39 billion and a reduction in expenditures of $ 7 billion, is strongly contractionary, reducing aggregate demand by about 2 per cent. The government deserves praise for starting the process of fiscal consolidation in a possible...

We use an agent-based computational approach to show how inflation can worsen macroeconomic performance by disrupting the mechanism of exchange in a decentralized market economy. We find that, in our model economy, increasing the trend rate of inflation above 3 percent has a substantial...