The crisis in Greece and other mainly southern Eurozone countries has been discussed primarily as a fiscal issue. Current account deficits of the same countries have received less attention in spite of the relatedness of current account and fiscal deficits. We argue that the failure of many...

We argue that the depth and breadth of the spread of the current crisis from the US subprime market across the globe was due more to the buildup of substantial financial vulnerabilities prior to the crisis than to irrational panic during the crisis. We examine how these developments explain the...

Purpose – Study of the interdependence among economies is of considerable importance. This area includes issues such as the increasing importance of regional economic interactions, the effects of economic growth and recession in the advanced economies on emerging market countries, and...

The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features...

<heading format="display" id="h1" implicit="yes" level="1">Abstract</heading> Some have argued that the endogenous responses to the formation of a currency area are so strong that one need not worry about optimum currency area conditions ex ante. We argue that this is much too strong a conclusion. We draw on a number of recent studies to evaluate the endogeneity...

Knowing the dynamic road risk for pedestrian evacuation and having an efficient evacuation plan play a very important role in the serious disasters such as earthquake, tsunami and hurricane. In this paper, the dynamic road risk for pedestrian evacuation in a densely populated area of Beijing was...

A novel composite PCM (phase change material) with PA-SA (palmitic-stearic acid) eutectic mixture as PCM and EG (expanded graphite) as supporting material was prepared. The optimum absorption ratio of PA-SA/EG (Palmitic-stearic acid/expanded graphite) composite PCM was determined as...

Heavier crude oil, tighter environmental regulations and increased heavy-end upgrading in the petroleum industry are leading to the increased demand for hydrogen in oil refineries. Hence, hydrotreating and hydrocracking processes now play increasingly important roles in modern refineries....

The impact of hydraulic engineering works and human activities on hydrology has become a hot issue along with the economy and social development. The water cycle model of the upper reaches of the Yangtze River (URYR) is established based on the improved Soil and Water Assessment Tool (SWAT)...