Investment in natural capital is increasingly necessary and urgent considering the increasing loss of global bio- diversity and the associated social and economic losses. Ecosystem services are tools for quantifying the stock of natural capital and there is great concern about their assessment...

This paper offers an in-depth examination of the behavior of necessity- and opportunitydriven entrepreneurship. First, it considers their relevance to total entrepreneurial activity. It then seeks to determine which socio-cultural and economic factors affect the two types of entrepreneurship, as...

Europe is the world's largest wine-producing and wine-exporting region. In recent decades, fostered by the liberalization of international trade, the European wine industry has witnessed an acceleration in its exports, but this increase has been far from steady. It has fluctuated considerably in...

Purpose - The purpose of this study is to investigate the relationship between oil price changes and the output growth in Turkey. Design/methodology/approach - The data were taken from International Financial Statistics databases, consisting of monthly data for the period 1986:01-2014:09....

This article summarizes the main findings on problems related to the measurement and identification of business cycles. The aim of this study is to define and identify the determinants of business cycles. This paper provides an overview of the methodology and its future course. Our investigation...

Paper deals with the analysis of investment in the business cycle. Analysis is based on available quarterly data for the Czech Republic since 1st quarter 1999 till 1st quarter 2014. It concludes that investment on the macroeconomic level is highly pro-cyclical component of demand, which...

The aim of this paper is to critically assess Austrian Business Cycle (ABC) theory. Its foundation was laid in Theory of Money and Credit (1912) by Ludwig von Mises, which F. A. Hayek elaborated in more detail later on in his Prices and Production (1935). We argue that assumed coordination...

This study argues that increasing malinvestment in an economy raises the actual credit risk but not the calculated credit risk until the onset of a recession. To this end, I analyse the relationship between credit risk and malinvestment in Germany, Spain, and Italy using a credit risk indicator...

This article employs a dynamic stochastic general equilibrium framework to examine asymmetric information and limited contract enforcement in financial markets, where firms have access to both internal and external sources of finance. It considers limited enforcement of financial contract in the...

Die fortschreitende Corona-Epidemie schockiert die Weltwirtschaft. In den kommenden Monaten werden viele Länder voraussichtlich deutliche konjunkturelle Einbrüche erleiden. Absperrungen ganzer Regionen führen zu einem Ausfall der Produktion, zu einer Unterbrechung der Lieferketten und zu...