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The euro has, in effect, exposed Italy's true weaknesses, which are microeconomic in nature.
Cleaner Production (CP) strategies are fundamentally concerned with operations, environmental sustainability and maximization of waste reduction, recycling, and reuse at the enterprise level, and are thus microeconomic in scope.
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But what made them so devastating was that they were met by microeconomic failures described in the special report in this issue.The interaction between the two was fatal.
"These challenges require urgent action in the areas of the financial sector, state-owned enterprises and microeconomic reforms in order to prevent a situation in which severe imbalances would steeply increase towards unsustainable levels," it said.
The report elegantly reframes much of Mr Obama's domestic agenda as microeconomic nudges in the direction of this overall macroeconomic rebalancing.In the years leading up to the crisis soaring asset prices, financial innovations and low unemployment all encouraged Americans to spend more and save less.
Courtney (1991) attributes asymmetry to factor substitution during cycles (involving non-constant relationship among hours, labour force participation and capital), while Campbell and Fisher (2000) suggest that aggregate asymmetries in job creation and destruction are due to microeconomic asymmetries in adjustment costs.
First came Margaret Thatcher's microeconomic reforms in the 1980s privatisation, deregulation and laws to restrict the trade unions.
"All of the microeconomic trends in Japan work to these companies' favor.
We argue that the relationship between polarization and skills mismatch is an empirical matter, which we analyse at both the macroeconomic and microeconomic level in European countries.
This article examines the evolution of sample survey data, often called microdata, in economics; discusses household as well as business sample surveys; examines the distinction between cross-sectional and longitudinal microcdatabases; and summarizes the main features of a selection of the most important microeconomic databases in the USA and otehr countries.
The Way Out: Happiness as a Macro-Micro Equilibrium My analysis adds to the existing literature a robust way of examining the potential factors that influence average national happiness level, by incorporating both macroeconomic and microeconomic components in the analysis.
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