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The protracted recession in the euro area will continue to be a drag on the economic growth of most CESEE countries in 2013. By and large, those countries are small open economies held hostage to the excessive fiscal austerity pursued in the euro area and the sluggish progress on the part of its...
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Explores the link between the financial cycle-financial booms, followed by busts-and the real economy …
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What is the link between the financial cycle - financial booms, followed by busts - and the real economy? What is the … in the real economy. Prominent macroeconomic models are challenged as experts question the nexus between financial …
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