This paper is a first attempt to connect the heterogeneity in bank efficiency with lending fluctuations and allocation efficiency : there is a trade-off between the two in the presence of heterogeneity in bank monitoring efficiency. The mechanism at hand is twofold. (a) First the rent extracted...

In order to understand the concept of entrepreneurship, firstly it is necessary to define the term entrepreneur and then try a definition of what constitutes entrepreneurship today. In the explanatory dictionary of the Romanian language, the word entrepreneur comes from French and means a person...

We analyze the complexity of rare economic events in troubled European economies. The economic crisis initiated at the end of 2009, forced a number of European economies to request financial assistance from world organizations. By employing the stock market index as a leading indicator of the...

Historically, IPOs have been observed to be underpriced. There are cycles in both the volume and the average underpricing of IPOs which may be attributable to the prevailing economic conditions. A large number of IPOs are made when there is a stock market boom. In contrast there is generally a...

The Euro Plus Pact was approved by 23 EU countries in March 2011 and came into force shortly afterwards. The Pact stipulates a range of quantitative targets meant to strengthen cost competitiveness with the aim of preventing the accumulation of external financial imbalances. This paper uses...

This paper looks at the subjective experiences of Spanish organized youth who are being affected by the economic crisis. This paper follows a standpoint epistemology. This research focuses on how their practices question the current dominant discourse depicting today’s Spanish youth as a...

In response to the recession, many European Countries, Italy included, are undertaking large spending cuts and tax hikes. This paper investigates whether the changes in the composition of public spending would hurt the long-run economic growth. If the composition of spending is strongly tilted...

The past Greek crisis experience is more or less terra incognita. In all historical empirical studies Greece is systematically neglected or included only sporadically in their cross-country samples. In the national literature too there is little on this topic. In this paper we focus on the Greek...

The labor market is a special type of market, whose object of transaction is the labor. In modern economies, workers sell their labor services to holders of capital on the labor market. This article aims to show occupancy in the active population in the period following the economic crisis, as...

Major economic crises may promote structural reforms, by increasing the cost of the status quo, or hinder them, by inducing more demand for protection. The ideology and political partisanship of the ruling government may be crucial in determining the prevailing course of action. In good times,...