Az utóbbi két-három év magyar gazdaságpolitikai vitáiban a kínálatorientációs gazdaságpolitika fogalma sokszor elhangzott, de a fogalom pontos tartalmáról nemigen volt szó. Többen a restrikció, illetve a vele hibásan azonosnak tekintett monetarista gazdaságpolitika...

We investigate whether government budget deficits and real interest rates have a long-run relationship with the current account of the balance of payments in 23 OECD countries. Such an investigation is of interest since large and persistent budget deficits may impose strains on the foreign...

In this paper we shed lights on the economic growth of Mezzogiorno of Italy during the last twenty years. The empirical analyses refer to various aspects of the Mezzogiorno economy: income per capita, labor productivity, public and private accumulation and competitiveness. The main contribution...

Greece has reached a point where, under any plausible macroeconomic scenario, public debt will continue growing faster than GDP. Fiscal consolidation alone cannot close the solvency gap. A substantial reduction in the stock of debt is needed. Even post-debt restructuring, there is no guarantee...

Multiperson households are less reliant on cash than single people because they are more likely than singles to rely on home-based production to meet their daily needs. This conclusion, supported by recent empirical research, suggests that fiscal and monetary policies that make market-based...

The eurozone is in political and economic crisis. This is due to the inadequate design of the institutional structure of the eurozone and to the current poor implementation of macroeconomic policy. In designing the eurozone, well established principles of economics were ignored and major...

The Banque de France organised a symposium on microfinance in July 2011. Based on the experience of Southern countries, the participants stressed the usefulness of microfinance as an instrument for financial inclusion, economic development and poverty reduction. They proposed several avenues for...

We explore the economic effects of biodiversity loss by developing an ecologically-founded model that captures how different species interact to deliver the ecosystem services that complement other factors of economic production. Aggregate ecosystem services are produced by combining several...

Un balance crítico de los modelos de desarrollo con los que se ha pretendido entregarle aAmérica Latina mejores condiciones de crecimiento y equidad. Desde el modelo de sustituciónde importaciones hasta las reformas estructurales de segunda generación, propias del final dela década de 1990,...