This study analyzes the emergence of secular stagnation as the consequence of a rise in the preference for liquidity. Such a rise is caused by a persistent set of pessimistic expectations. This study also investigates the effectiveness of a broad range of demand-management policies in dealing...

In this article I review Joseph P. Joyce’s thought-provoking book The IMF and global financial crises: Phoenix rising?†(Cambridge University Press, 2012). The book is a comprehensive yet concise appraisal of the IMF’s history of successes and failures in preventing crises, and...

In the highly globalized world economy of our times, where markets are tightly integrated, setting domestic economic policy with a view simply to keeping one’s house in order is no longer optimal. New responsibilities follow for each member of the community of countries from the...

Some fundamental choices that the international community must now face in order to protect and develop the seriously deteriorated (and deteriorating) world natural environment are offered. Institutional and financial guidelines for ecological conservation and development are presented. The idea...

Coping with the challenges of global economic governance is a topical issue of the current international agenda, and the object of a vivid debate among scholars and policy-makers. The international financial and economic crisis that erupted in 2007 reveals the fallibility of the neoliberal...