This publication has been launched within the project “European Union – Republic of Moldova Trade Relations: Current Situation and Perspectives for Enhancement”. The project is sponsored by the Moldova-Soros Foundation. The major goal of this project is to help Moldovan government...

The weakness of credit growth in the United States and Europe has given rise to concerns that the financial crisis has led to a credit crunch which has deepened the recession in the real economy and poses a serious threat to the recovery that seems to have started in the most recent months. In...

This lecture is a tour dhorizon of the financial crisis aimed at extracting lessons for future financial regulation. It combines normative recommendations based on conventional welfare economics with positive assessments of the kind of measures likely to be adopted based on political economy...

Die Konjunktur in Deutschland hat sich stabilisiert. Die Produktion im zweiten Quartal 2009 verlief überraschend positiv. Im dritten Quartal dürfte sie deutlich angezogen haben. Alles in allem revidieren wir unsere Prognose für das Jahr 2009 nach oben. Wir rechnen nun mit einem Rückgang des...

With interest rates in most developed countries close to zero, it is not possible for monetary policymakers to stimulate the economy by reducing interest rates. As a result the economy is unusually sensitive to the possibility of deflation, and thoughts turn to fiscal policy in order to...