The Japanese economy has experienced an unprecedented period of macroeconomic turbulence over recent years. Even before the 1997 Asian crisis, this had led to a sharp rise in the number of financial institutions experiencing bankruptcy, including a number of large regional banks and an international stockbroking firm. The question we seek to address is, What effect has this economic turbulence ...

We study the relation between capital accumulation, fiscal policy, and sovereign debt dynamics in a small open economy. The government maximizes spending, facing borrowing constraints conditionality requirement. Debt are forward looking, being driven by endogenous constraint. Current is determined expectations about government's ability to finance itself future, opening room for indeterminacy. ...

a r t i c l e i n f o Firms in many developing countries cite macroeconomic instability and political uncertainty as major constraints to their growth. We conduct a randomized experiment in post-revolution Egypt to measure the impact of insuring microenterprises against this uncertainty. Demand for macroeconomic shock insurance was high, with a take-up rate of 36.7%. However, purchasing insuran...

The credit market continues to be the main mechanism for financing investments in developing countries, particularly in Morocco. In this sense, monetary and macro-prudential policies require the inclusion of this market in macroeconomic analysis. In this article, we use the model proposed by Bernanke et al. (1999) "BGG" in the case of Morocco to answer two main questions: is there a mechanism f...

How can current measures, strategies and framework conditions be modified in order to enable a higher quality of life, despite weak Which instruments and strategies are necessary in order to maintain or increase the provision of ecosystem services in times of weak growth? ..