The Real Business Cycle (RBC) research program has grown specularly over the last decade, as its concepts and methods have diffused into mainstream macroeconomics. Yet, there is increasing skepticism that technology shocks are a major source of business fluctuations. This chapter exposits the...

The Real Business Cycle (RBC) research program has grown spectacularly over the last decade, as its concepts and methods have diffused into mainstream macroeconomics. Yet, there is increasing skepticism that technology shocks are a major source of business fluctuations. This chapter exposits the...

This paper is concerned with the New Consensus Macroeconomics (NCM) in the case of an open economy. It outlines and explains briefly the main elements of and way of thinking about the macroeconomy from the standpoint of both its theoretical and its policy dimensions. There are a few problems...

Interest in economic policy and performance in Iran under the Islamic Republic remains vigorous two decades after the Revolution. Since 1979, Iran has undergone important socio-economic and institutional changes and has been affected by significant economic and political upheavals. This paper...

The Cyprus crisis is one of the most complex in the Eurozone - although in absolute terms it is a minor crisis. An analysis of the ongoing developments from different perspectives leads to the conclusion that we are witnessing a perfect storm of a financial crisis at the confluence of sovereign...

Bağımsızlıklarını kazanır kazanmaz Postsovyet ülkeleri başta özelleştirme gelmekle reform çalışmalarına başladılar. Dünya özelleştirme pratiğinin bu ülkelere böyle geç gelmesinin tek sebebi, devlet mülkiyetinin ağırlık kazandığı planlı ekonominin hakim...

Prevailing ideology holds that democracy is a system of government where people govern themselves. This ideology clashes with the unavoidable recognition that in any but small towns and villages governance is an activity wherein a few govern and the many are governed. This situation is an...

The decision making process, regardless of the environment in which it functions, depends, first of all, on the information used. Information quality is given by two characteristics: information representativeness, and its capacity to capture the variety of objective reality. These two...

This paper analyzes a sequential approach to lifting interventions in the COVID-19 pandemic taking heterogeneity in the population into account. The population is heterogeneous in terms of the consequences of infection (need for hospitalization and critical care, and mortality) and in terms of...