The model of the macroeconomic stabilisation pentagon allows for a quick insight into the most important macroeconomic indicators of an economy in question. On the basis of this concept -?comparing pentagrams for particular years - changes of the economic condition of countries can be examined....

Global crisis that has affected all economies has also given harms for financial and structural bodies of economies. Near after this financial crisis, governments took different responsibilities to overcome this phenomenon. In this context, priorities in overcoming the crisis have concentrated...

Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...

We argue that the present crisis and stalling economy continuing since 2007 have clear origins, namely in the delusionary belief in the merits of policies based on a “perpetual money machine” type of thinking. Indeed, we document strong evidence that, since the early 1980s, consumption has...

This book review presents a summary of “Fault Lines: How Hidden Fractures Still Threaten the World Economy” by Raghuram Rajan, who puts forward a clear and cogent account of the latest global financial crisis. With the historical perspective he adopts, Rajan digs in deeper than the shallow...

The autumn of 2008 has produced, starting from the American and European mortgage credits crisis, the most powerful and deep financial, monetary and economic crisis, which last phases the most advanced states of the planet seemed to be experienced in the first half of 2009. As anything that...

In response to the global crisis a number of new institutional measures have been introduced in the fiscal framework, both on the UE and on the member states’ level, and the question is: have these measures provided better fiscal sustainability outcomes? We approach this question by looking at...

In response to the global crisis a number of new institutional measures have been introduced in the fiscal framework, both on the UE and on the member states’ level, and the question is: have these measures provided better fiscal sustainability outcomes? We approach this question by looking at...

The “crisis exaggerators” are telling us that current economic conditions amount to an “unprecedented” global economic recession. This is historically incorrect. What is unprecedented is the degree to which economic commentators and political leaders are talking up economic downturn....

The effects of the financial crisis that began in 2007 are still being felt in the global economy. Despite the fact that its low point was apparently reached, the economic recovery will last long, with an economic growth below potential and a gradual decrease of unemployment over several years....