Put in terms of the two fundamental theorems of welfare economics, social or welfare liberalism is being defined as the tenet criticizing classical liberalism for neglecting the second theorem, having nothing to say about the “liberalism” of macroeconomic policymaking. This note claims that...

This paper focuses on how business interests and neoliberal ideas have come together in Germany during the past two decades. It is based on a detailed analysis of the INSM, a large-scale campaign founded and funded by the metal industry employers’ association Gesamtmetall in 2000 to shape...

Previous crisis episodes highlighted the role of mismatches in propagating crisis dynamics in emerging economies. The relative speed of financial opening as compared with the enhancement of absorptive capacity is a key determinant of the nature and severity of these mismatches. This study...

The weighted essentially non-oscillatory (WENO) methods are popular and effective spatial discretization methods for nonlinear hyperbolic partial differential equations. Although these methods are formally first-order accurate when a shock is present, they still have uniform high-order accuracy...

While the Unemployment Insurance (UI) program is one of the largest safety net program in the U.S., research on its benefits is limited. This paper exploits plausibly exogenous changes in state UI laws to empirically estimate whether UI generosity mitigates any of the previously documented...

Applying IS-MP-IA model and the Taylor rule to selected Southeast European economies (Albania, Bosnia and Herzegovina, Macedonia and Serbia) we find that the change of effective exchange rate positively affects output, while the change of the world interest rate negatively affects output or it...

Applying IS-MP-IA model and the Taylor rule to selected Southeast European economies (Albania, Bosnia and Herzegovina, Macedonia and Serbia) we find that the change of effective exchange rate positively affects output, while the change of the world interest rate negatively affects output or it...