In this paper we provide a unifying framework for a set of seemingly disparate models for bubbles, shocks and elementary technical trading strategies in financial markets. Markets operate by balancing intrinsic levels of risk and return. This seemingly simple observation is commonly over-looked...

Serbian. U uslovima izolacije (sankcije međunarodne zajednice) standardni instrumenti ekonomske politike usmereni na uspostavljanje spoljnoekonomske ravnoteže potisnuti su instrumentima monetarne politike, kojima se makroekonomska (ne)ravnoteža autonomno generiše u okviru zatvorenog sistema....

This is a summary of the paper entitled : “The Mean Squared Prediction Error Paradox”. In that paper, we show that traditional comparisons of Mean Squared Prediction Error (MSPE) between two competing forecasts may be highly controversial. This is so because when some specific conditions of...

The purpose of this study is twofold. First, to construct short-term prediction models for bank deposit flows in the Euro area peripheral countries, employing machine learning techniques. Second, to examine whether textual features enhance the predictive ability of our models. We find that...

Tourism is increasingly being recognized as an essential component of economic growth in Algeria. This paper investigates the relationship between economic growth and tourism development in Algeria. The purpose of this research is to test empirically the long-term relationship between economic...

The main thesis in this manuscript is that a social choice theory based on aggregating individual preferences and values is insufficient to confront the social choices that today’s world is facing. It is defended in here that institutions play a critical role in any social choice, and that the...

The international organizations acting at world-wide scale seems unable to manage the multitude of rising problems due to the accelerated globalization and of the fast geopolitics’ shift. The world is facing growing imbalances in international trade and financial flows, deepening of social...

In common with the other periphery countries that joined the euro-zone in 1998-2000, Spain enjoyed ten years of economic prosperity, essentially debt-financed. The financial crisis of 2008 has revealed deep structural problems in the euro-zone, but also among Spain’s fiscally autonomous...

IMF was established as a financial institution for the promotion of world trade and international financial stability of members. However, IMF focused on assistance to developing countries and transition economies and as a result seems to have political implications. Many studies suggest that...

Textual analysis of the NBER Working Papers published during 1999–2016 is done to assess the effects of the 2007–2009 crisis on the academic literature. The volume of crisis-related WPs is counter-cyclical, lagging the financial-instability-index. WPs by the Monetary-Economics,...