австрийска теория на бизнес цикъла

Author: Kristiyan Korelov It has been more than a decade since one of the largest stock market panics in the United States occurred. Credit markets had completely stopped functioning (Gorton, 2008), and the situation was very similar to that of the panic of 1907, when banks were in massive need of liquidity and a huge part of …

The world put out the fire with debt that will sooner or later have to be paid. On September 15, 2008, the United States woke up to the bankruptcy of its fourth largest investment bank, Lehman Brothers. With assets of $639 billion (at least on the balance sheet) and $619 billion in debt, it was the largest bankruptcy …

The factors that lead to the current crisis in Turkey are at a fundamental level two. The huge balance of payments deficit and high levels of price inflation, especially since 2012. In turn, these two factors are a direct result of the fiscal and monetary policies that Turkey has chosen to follow over the last …