The current economic crisis has become a global phenomenon. However, the path to the economic crisis, its materialization and persistence are also country-specific and can only be studied by considering a country's past economic development, existing institutional environment, and the economic...

One of the core premises of post Keynesianism is that a proper understanding of the macroeconomy demands a dynamic analysis set in historical time. The default tool of mainstream economics, the general equilibrium framework, cannot possibly capture such a world. The goal of this paper is to...

This study identifies and proposes the approach of a new intelligent system regarding stopping the phenomenon of migration of young people during the current economic crisis. We investigate the manner in which the labour market and the educational system in Romania can contribute to the option...

Initially triggered in the USA and generated by the chaos in the financial system of the country, the economic crisis has spread in Europe and, thanks to globalization, as a domino effect has spread around the world. Although the first part of 2008 South East Europe has lived with the belief...

In the analysis short- and medium term effects of the crisis on household income levels by deciles and on overall inequality and poverty measures are described for the period 2008 to 2011 for Bulgaria and Romania. For the subsequent period of 2011 to 2015 we apply household stress tests. Both...

A new database for the calculation of quarterly income inequality measures was established for 11 economies from Central, East and Southeast Europe for the period of 1st quarter 2000 to 4th quarter 2011. Based on the large panel of the acquired quarterly Gini coefficients an ‘Acemoglu-style’...

This paper presents the general economic equilibrium model of the Republic of Kazakhstan. The model includes eight macroagents. Four of the macroagents, Household, Producer, Bank, Owner, are described by optimisation problems. The other four macroagents follow prescribed scenarios. All agents...

The present study investigates the consequences of the economic crisis in the wood and furniture sectors of two economically linked countries, Greece and Cyprus, in order to study the contagion mechanisms and its impact on firms' performance. It further compares ways to confront the crisis and...

This article argues in favour of a coherent and active European Union foreign policy based on the idea of 'geopolitical ethics'. In the first part of the article, the situation of the international system since 1990 is outlined. It seems that after the financial crisis of 2008 the world has lost...

This manuscript presents a theoretical cognitive game approach to analyze the potential behavior of consumers as a reaction to a government bailout plan at times of big recessions.