After the publication of Keynes' "General Theory," economics was frequently described as schizophrenia: (neo-) classical at the micro-level, but Keynesian at the macro-level. In actuality, Keynes' revolution was, to a substantial part, based on the behavioral micro-foundations of the world we...

Purpose – To examine in depth one of the currency crises proliferating in emerging markets during the last decade. Design/methodology/approach – Three “generations” of currency crisis models are used to identify vulnerabilities facing the Turkish economy in the period 1999‐2000,...

Purpose – The purpose of this paper is to provide a framework for connecting macro‐ and micro‐level research on competitiveness. Design/methodology/approach – Based on some major international survey research reports (by the WEF, IMD, OECD, and the EU) and research experience, a gap is...

Purpose – The purpose of this paper is to show the feasibility of effectual ethics on foundations of micro and macro issues of economics. Design/methodology/approach – In this paper, the library research method has been used to reflect some ideas about the necessity of changing the concept...

Purpose – The purpose of this paper is to investigate the determinants of the timing of bank failure in North Cyprus over the period of 1984‐2002 using a discrete‐time logistic survival analysis. Design/methodology/approach – The empirical methodology employed in the paper allows for the...

It is customary for the Interviewer to begin with an introduction describing the circumstances of the interview and providing an overview of the nature and importance of the work of the interviewee. However, in this case, as Editor of this journal, I feel it would be presumptuous of me to...

Many recent studies in macroeconomics have focused on the estimation of DSGE models using a system of loglinear approximations to the models' nonlinear equilibrium conditions. The term macroeconometric equivalence encapsulates the idea that estimates using aggregate data based on first-order...

An analytical innovation enhances microeconomics, enabling it to answer all questions of macroeconomics. It combines the production and consumption decisions of the individual in one model. For each individual, it identifies the customers of what he sells, and the suppliers of what he buys. It...