Macroeconomic theories picture the economy as a phenomenon tractable by their analysis and thus manageable macroeconomic policies guided this analysis. This approach has withstood recurrent policy failures, competing several changes of paradigms, from Keynesianism to monetarism, because development economics discipline been entangled with demand policymakers receive clear prescriptions expert c...

The article analyzes the role and content of modern social engineering in conditions increasing macroeconomic instability spread unfair competition. reasons for development negative nature orientation technologies are revealed. theses on expediency considering "broad" "narrow" meanings, as well "special engineering" its techniques carrying asocial or antisocial put forward substantiated. Recomm...

We integrate systemic financial instability in an empirical macroeconomic model for the euro area. We find that at times of widespread financial instability the macroeconomy functions fundamentally differently from tranquil times. We employ a richly specified MarkovSwitching Vector Autoregression model to capture the dynamic relationships between a set of core macroeconomic variables and a nove...

The “Three Arrows” policies adopted by the current Abe administration are a combination of macroeconomic (monetary as well as fiscal) and microeconomic policies. Abe came up with the policy-mix in order to resolve two serious economic troubles that his administration faced when it assumed the top executive role in December 2012. First, since Japan’s asset bubble burst in 1990, the economy suffe...

Financial safety nets are intended to reduce the likelihood and severity of financial crises that have macroeconomic externalities. While safety nets are intended to confer benefits on the macroeconomy, their design and implementation may confer disproportionate benefits on identifiable sectors, such as banks and depositors. In this study, we distinguish between safety net benefits and subsidie...

Since long the argument has been that both bank specific and macroeconomic factors affect the nonperforming loans and the existing literature on macroeconomic variables suggests that many macroeconomic variables do strongly influence them. Over the last few years the literature that examines NPLs has expanded in line with the interest afforded to understanding the factors responsible for financ...