We examine whether the cross-country incidence and severity of the 2008-2009 global recession is systematically related to pre-crisis macroeconomic and financial factors. We find that the pre-crisis level of development, increases in the ratio of private credit to GDP, current account deficits,...

The paper shows that the effect of the Emergency Economic Stabilization Act (EESA) is ambiguous. It discusses the benefits and costs of mark-to-market valuation and design of executive pay package policies within the US 2009 EESA. It highlights how the mark-to-market valuation standard...

This paper gives an account of the Swedish financial crisis covering the period 1985–2000, dealing with financial deregulation and the boom in the late 1980s, the bust and the financial crisis in the early 1990s, the recovery from the crisis and the bank resolution policy adopted during the...

The current financial crisis is a complex and developing phenomena. It generates many debates. This paper presents two aspects. Firstly, the mechanism of the crisis, from the US subprime crisis to the international contagion. Secondly, the opinions of some reputed economists about its main...

Besides other factors, the tensions and the repositioning on the global arena (“the Great Chessboard” as the American analyst Zbigniew Brzezinski called it) have a significant contribution for the start and development of the global economic crisis. This paper proves how the battle for the...

This paper consists of a graphical illustration of the Romanian economic cycle during the period 1990-2007, as a background of contemporary financial crisis. The first part provides an overview of the definition of recession and financial crisis, and the gains from using both types in financial...

The international financial crisis represents a preoccupation for the economic analysts, as it is hardly a new phenomenon in the economic history of the modern world, but is raising issues regarding its future evolution, the short and long time effects upon the world economy as a whole and each...

The aim of the paper is to evaluate the influence of the financial crisis and corruption on the corporate social behaviour of Romanian organisations. Starting from the reference literature on financial crisis, corruption and corporate social responsibility, this article is an investigation of...

We investigate the intertemporal risk-return trade-off of foreign ex- change (FX) rates for ten currencies quoted against the USD. For each currency, we use three risk measures simultaneously that pertain to that currency; its realized volatility, its realized skewness, and its value-at-risk. We...

We argue that although UK monetary policy can be described using a Taylor rule in 1992-2007, this rule fails during the recent financial crisis. We interpret this as reflecting a change in policymakers’ preferences to give priority to stabilising the financial system. Developing a model of...