Using PESSOA, a DSGE model for a small euro area economy, we analyze the size of fiscal multipliers associated with a large fiscal consolidation in "normal times" and in "crisis times." The crisis times scenario embodies a temporary increase in nominal rigidities and in financial frictions,...

This paper presents a theoretical conceptual model for evaluation of logistics performance for small and medium enterprises (SMEs). Based on recent theoretical developments, grounded in a survey of the most important literature in the field, it analyzes the impact of the logistics function on...

The Cumulative Prospect Theory (CPT) is one of the most popular theories for evaluating the behavior of decision makers in the context of risk and uncertainty. This theory emerged as a generalization of the Expected Utility Theory (EUT) and being a relatively recent theory, its application has...

What is the scope of economics as a science, what is economics for? Real freedom or what we call substantive democracy has never been an objective of economics. In this perspective freedom, or the lack of it, would not be a purpose of a particular economic system, but at best one of its side...

We calculate aggregate measures of mismatch in the labour market for 30 European countries. These indicators measure vertical mismatch (related to the level of education, e.g. overeducation, and undereducation) and horizontal mismatch (related to the eld of education) and are comparable across...

This paper conducts a literature survey on Foreign Direct Investment (FDI) and its relation to fiscal policy. Geographical and cultural proximity between originating and host countries, market size of the host countries, as well as other exogenous variables have been pointed out by a significant...

The unfavoured Portuguese regions have a level of life and economic growth rates lower than favoured regions, and the mean of European Union and hence have less entrepreneurial activities. The adoption of strategies of sustainable development driven by entrepreneurship phenomena could be a...