The paper discusses conditions and prospects for fast and durable growth in emerging market economies. In the course of history less than 30 countries have become rich and still more than 80 percent of the world population is lagging behind. In many cases a lot indeed. It is true not only for...

In the wake of the Greek debt crisis, concerns about the sustainability of public debt have intensified. As a result, from the summer of 2010 several euro area member states announced fiscal austerity measures. These adjustments have a significant impact on the economic outlook of the euro area...

For Latvia with incoming into the European Union big opportunities in the international markets have opened. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. In paper various indicators of a national economy before and after...

En este documento se investiga acerca de la existencia y la identificación de un ciclo económico común entre Colombia, Ecuador y Venezuela. Se busca una evidencia de la sincronización de los ciclos económicos de estos países, a través de diferentes medidas no paramétricas, en conformidad...

As alterações na paisagem que se podem detectar, mais facilmente sobretudo quando se comparam duas realidades suficientemente distantes no tempo, resultam de um processo contínuo de interacção entre elementos, nomeadamente estados da natureza e pessoas, os quais formam um sistema, regra...

Este artigo tem por objetivo fazer uma pequena digressão sobre o surgimento e o conteúdo do programa de pesquisa pós-keynesiano, com vistas à delimitação do conjunto de questões que podem ser consideradas como “questões resolvidas” no contexto desse programa de pesquisa; bem como a...

The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from Adam Smith's ideas about the invisible hand, was a major...

This paper examines Robert E. Lucas's views on the relationship of macroeconomics to real world economic phenomena, and on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the subdiscipline has evolved. It considers some implications...

Does fiscal policy have qualitatively different effects on the economy in a liquidity trap? We analyze a nonlinear stochastic New Keynesian model and compare the true and loglinearized equilibria. Using the loglinearized equilibrium conditions, the answer to the above question is yes. However,...

This paper reflects on the development leading to the recent crisis and interprets this development as a series of events within a Minsky-Veblen Cycle. To illustrate this claim we introduce conspicuous consumption concerns, as described by Veblen, into a stock flow consistent Post Keynesian...