This paper attempts, first, to assess foreign aid effectiveness in fostering green city procedures in developing countries. For this purpose, we rely on the following aid effectiveness criteria: national ownership; harmonization; alignment and mutual accountability; and results management. Our...

This paper estimates a nonlinear Threshold-VAR to investigate if a Keynesian liquidity trap due to a speculative motive was in place in the U.S. Great Depression and the recent Great Recession. We find clear evidence in favor of a breakdown of the liquidity effect after an unexpected increase in...