The paper deals with the geographies of the European economic crisis that had its origins in the global financial crisis of 2008-09. The crisis pushed many European economies into a deep recession and caused a mass unemployment in many countries. The crisis is analysed in a monetary economy...

There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the...

This paper proposes a general statistical framework for systemic financial stress indexes. Several existing index designs can be represented as special cases. We introduce a daily variant of the ECB's CISS for the euro area and the US. The CISS aggregates a representative set of stress...

This paper aims to assess both the explicit and implicit convergence criteria for Poland's possible membership in the Economic and Monetary Union, with special emphasis on institutional underpinnings of the country's prospects of adopting the euro. While the former set of criteria (embedded in...

The main purpose of the research is to develop a new methodology, that will allow to create an Integral Index of Reforms, quantitatively assess various reforms that have been implemented for 2012-2017 in 66 countries of the world. In the article with the help of the Integral Index of Reforms,...

Germany entered the euro with a current account deficit but over the entire past decade has run large and persistent current account surpluses. Besides joining the common currency, the increase of Germany's current account since the late 1990s has been accompanied by strong shifts in the...

I construct risk-sensitive approximations of policy functions of DSGE models around the stochastic steady state and ergodic mean that are linear in the state variables. The method requires only the solution of linear equations using standard perturbation output to construct the approximation and...

This paper shows entropic tilting to be a flexible and powerful tool for combining medium-term forecasts from BVARs with short-term forecasts from other sources (nowcasts from either surveys or other models). Tilting systematically improves the accuracy of both point and density forecasts, and...

The aim and scope of this paper is to isolate the effects of population ageing in the context of potential Scottish independence. Fiscal challenges are often quoted as a strong argument against independence. Demographic processes play an important role in determining future economic growth via...

O crescimento econômico tem sido uma das grandes questões da sociedade atual. Desde 2008 as grandes potências vêm enfrentando dificuldades para retornar ao ciclo de desenvolvimento pelo qual passavam antes da crise mundial afetando os países emergentes que, por sua vez, devem buscar uma...