Das zweite Anpassungsprogramm für Griechenland ist gescheitert, nachdem es bereits mehrfach modifiziert und erweitert worden war. In den Verhandlungen im Juni 2015 konnten sich Griechenland und 'die Institutionen' nicht auf die Fortführung und damit den geordneten Abschluss des zweiten...

The achievement of individual well-being while guaranteeing a sustainable development path represents an important objective of a socio-ecological transition. This objective indicates that targets referring to the economic, social and environmental dimensions are taken into account...

ASEAN member countries are moving toward achieving the ASEAN Economic Community (AEC) with the timeline set at 2015. It is therefore important for policymakers in the region to sustain the momentum - or perhaps even accelerate the pace - toward establishing the AEC. Policy measures are being...

The Global Financial Crisis of 2007 was one of the worst crises that hit the world economy since the Depression era. For the next two years, the crisis created waves of economic contraction that affected developed and developing economies. The Philippines was not spared from this crisis. As an...

The frequency of intense floods and storms is increasing globally, particularly in Asia-Pacific, amid the specter of climate change. Associated with these natural disasters are more variable and extreme rainfall and temperatures as recorded in publicly available databases for the world,...

Financial intermediaries may increase economic efficiency through intertemporal risk smoothing. However without an adequate regulation, intermediation may fail to do this. This paper studies the effects of a production shock in a closed economy and compares abilities of market-based and...

In this study we examine the impact on Hungary of a possible correction of global imbalances. We distinguished four different channels of the global adjustment process, which are widely referred to in the literature (fiscal tightening in the U.S.; housing price correction in the US; an increase...