• Corpus ID: 17861516


  author={J{\o}rgen Elmeskov},
 Still, the economic crisis has not hit countries equally hard. The particular propagation pattern of the crisis appears, ironically, to have allowed some of the countries where asset prices and financial leverage increased the most to escape relatively lightly in terms of GDP loss. By contrast, countries with a heavy specialisation in durable goods and hi-tech manufacturing appear to have been badly affected. 

The Global Financial Crisis and its effects on the Netherlands. Country Focus 10/2009

With very low unemployment, a large and stable current account surplus, low government debt and a budget in surplus, the Dutch economy was assessed initially to be relatively well prepared to weather

The Euro After Its First Decade: Weathering the Financial Storm and Enlarging the Euro Area

The first decade of economic and monetary union in Europe (EMU) has been a huge success. EMU has significantly benefited its member countries and accelerated the European integration process.

Risk, uncertainty and the market: a rethinking of Islamic and Western finance

Abstract This paper aims at providing an account of the Islamic conception of Gharar in contrast to the current Western conceptualisation of risk, using the respective financial legal frameworks of

Brazilian Residential Real Estate Bubble

CLAUDIMAR PEREIRA DA VEIGA Department Business School PPAD Pontifical Catholic University of Paraná PUCPR Rua Imaculada Conceição, 1155 Prado Velho – Zip code 80215-901, Curitiba, PR, BRAZIL

Global Financial Crisis and the Search for New Financial Architecture: Can Islamic Finance Provide Alternative?

The global financial crisis of mid 2007, which is said to be more severe than any in the past has had devastating spillover effects worldwide as over 100 million more people are forced into poverty.



Globalisation and Inflation in the OECD Economies

Over the past 25 years inflation has moderated considerably in all OECD economies. At the same time, the production of many goods and services has become increasingly internationalised and the level

Monetary Policy, Market Excesses and Financial Turmoil

This paper addresses the question of whether and how monetary policy ease may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence

Ongoing Changes in the Business Cycle – Evidence and Causes

This paper first reviews a number of stylised facts concerning OECD country business cycles over the past four decades. In general, the amplitude of business cycles has fallen, driven mainly by

Recent and Prospective Trends in Real Long-Term Interest Rates: Fiscal Policy and other Drivers

This paper documents some features of recent trends in bond yields and discusses the drivers of these trends. This includes a discussion of the relationship between fiscal balances and interest rates

―The Effectiveness and Scope of Fiscal Stimulus‖

  • OECD OECD Economic Outlook: Interim Report
  • 2009

―Recent House Price Developments: The Role of Fundamentals‖

  • OECD Chapter III, OECD Economic Outlook
  • 2005