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Recklessness on the part of some financial intermediaries and ratings agencies may have helped create the current mess, but we should not ignore the turmoils primary macroeconomic causes.
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The costs are macroeconomic, caused by forgoing the right to set interest rates to suit the specific economic conditions of a member state.
In a survey of the chamber's members, 56percentt of respondents identified local government policies aimed at luring investment as the main macroeconomic reason for overcapacity; loose lending was the second most frequently cited cause.
The macroeconomic case for gender parity.
The current crisis has exposed both fiscal and macroeconomic imbalances caused by a lack of reforms in several euro zone countries as well as structural problems in the institutional set-up of Europe's economic and monetary union.
They claim that seasonal clustering of US macroeconomic news announcements causes return seasonality in S&P 500 and S&P 100 index returns.
Default risk includes a systematic component from a conceptual perspective, aside from company-specific idiosyncratic risk, which is contingent on macroeconomic factors and causes spillover effects as well as industry-specific yet time-varying risk factors (Giesecke and Kim 2011; Vassalou and Xing 2004).
But two other macroeconomic trends are causing concern.
Large influxes of capital could cause macroeconomic instability if they were not carefully monitored, he said.
Moreover, this situation prevented institutional complementarity in the macroeconomic base and caused path dependency in subsequent periods.
It is true that the answers to many "big picture" macroeconomic questions — like the causes of recessions or the determinants of growth — remain elusive.
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CEO of Professional Science Editing for Scientists @ prosciediting.com