Reflecting on the breadth of its scope, Aspects of Globalisation is intended to serve a varied audience. Being at the forefront of research, it should appeal to academics, researchers and postgraduate students interested in new approaches and ideas for future research. To this end, the editors have encouraged the contributors to pursue varied themes and raise new issues, approach their subject matter in an analytically rigorous way, and to include fairly extended review sections within their papers, so as to make them useful to a wider readership. Furthermore, diverse methodologies are followed, including the widespread use of state-of-the-art econometrics, reflecting the recent trend in economic analysis. Equally importantly, many of the papers offer clear-cut policy conclusions and should therefore be of direct relevance to policy-minded analysts and policy-makers.

We thus hope that the papers included here will provoke further research and ideas as well as contribute to ongoing policy debates. Its diversity, rigour and scope should be positive attributes of the volume and should make it a useful source of information for researchers and policy-makers alike.

This book offers a comprehensive guide to the on-going Greek debt crisis. It identifies and explains Greece's idiosyncratic weaknesses, and highlights the existing rigidities in the EU architecture that make the recovery prospects of the Greek economy challenging. Chapters from expert contributors highlight aspects of the performance of the Greek economy with focus on export performance, labour market conditions, political cycles and regional income disparities. The book then goes on to outline the banking system in Greece in the post-crisis era, and includes analysis that explains how the credit rating score affected Greece's borrowing capacity prior to the start of the insolvency crisis. The final part analyses and compares alternative scenarios of fiscal consolidation, seeking to identify whether there are alternatives to fiscal austerity and the impact of each one of them. This section also clarifies various misconceptions about the significant determinants of international competitiveness. Despite the focus of the book, the lessons drawn from the chapters are not limited to Greece. This volume will be of interest to academics, practitioners and policy makers who wish to take a closer look at the Greek debt crisis and learn more about the challenges the Greek economy is currently facing.

This book offers a comprehensive guide to the on-going Greek debt crisis. It identifies and explains Greece's idiosyncratic weaknesses, and highlights the existing rigidities in the EU architecture that make the recovery prospects of the Greek economy challenging. Chapters from expert contributors highlight aspects of the performance of the Greek economy with focus on export performance, labour market conditions, political cycles and regional income disparities. The book then goes on to outline the banking system in Greece in the post-crisis era, and includes analysis that explains how the credit rating score affected Greece's borrowing capacity prior to the start of the insolvency crisis. The final part analyses and compares alternative scenarios of fiscal consolidation, seeking to identify whether there are alternatives to fiscal austerity and the impact of each one of them. This section also clarifies various misconceptions about the significant determinants of international competitiveness. Despite the focus of the book, the lessons drawn from the chapters are not limited to Greece. This volume will be of interest to academics, practitioners and policy makers who wish to take a closer look at the Greek debt crisis and learn more about the challenges the Greek economy is currently facing.

Reflecting on the breadth of its scope, Aspects of Globalisation is intended to serve a varied audience. Being at the forefront of research, it should appeal to academics, researchers and postgraduate students interested in new approaches and ideas for future research. To this end, the editors have encouraged the contributors to pursue varied themes and raise new issues, approach their subject matter in an analytically rigorous way, and to include fairly extended review sections within their papers, so as to make them useful to a wider readership. Furthermore, diverse methodologies are followed, including the widespread use of state-of-the-art econometrics, reflecting the recent trend in economic analysis. Equally importantly, many of the papers offer clear-cut policy conclusions and should therefore be of direct relevance to policy-minded analysts and policy-makers. We thus hope that the papers included here will provoke further research and ideas as well as contribute to ongoing policy debates. Its diversity, rigour and scope should be positive attributes of the volume and should make it a useful source of information for researchers and policy-makers alike.

Theory of Macroeconomic Policy reviews the theoretical foundations of macroeconomic, fiscal, and monetary, policy. It offers a panoramic view of macroeconomic theory, covering a wide range of topics that are not customarily dealt with in macroeconomics texts, as well as more standard material. Advanced theory is bridged with more elementary or intermediate material, and established models are reviewed alongside current research directions. There is an extensive review of empirical evidence on virtually every topic, supplemented by narrative accounts for various episodes. The policy implications of the various theories are emphasised throughout. The chapters are largely self-contained so that different courses can focus at different places. A 'Guidance for Further Study' Section and extensive bibliography give plenty of ideas for all levels of independent study, from Undergraduate Projects to MSc Dissertations to PhD Theses. Theory of Macroeconomic Policy presents a balance between: breadth as well as depth; analytical treatment and intuition; theory and evidence; vintage theories and current directions; theory and policy; (established) theory and debate. Theory of Macroeconomic Policy is an affirmation that there is a well-developed body of theory that is invaluable for an in-depth understanding of the macro-economy and policy; equally, there is much scope for critical discussion and debate.

Theory of Macroeconomic Policy reviews the theoretical foundations of macroeconomic, fiscal, and monetary, policy. It offers a panoramic view of macroeconomic theory, covering a wide range of topics that are not customarily dealt with in macroeconomics texts, as well as more standard material. Advanced theory is bridged with more elementary or intermediate material, and established models are reviewed alongside current research directions. There is an extensive review of empirical evidence on virtually every topic, supplemented by narrative accounts for various episodes. The policy implications of the various theories are emphasised throughout. The chapters are largely self-contained so that different courses can focus at different places. A 'Guidance for Further Study' Section and extensive bibliography give plenty of ideas for all levels of independent study, from Undergraduate Projects to MSc Dissertations to PhD Theses. Theory of Macroeconomic Policy presents a balance between: breadth as well as depth; analytical treatment and intuition; theory and evidence; vintage theories and current directions; theory and policy; (established) theory and debate. Theory of Macroeconomic Policy is an affirmation that there is a well-developed body of theory that is invaluable for an in-depth understanding of the macro-economy and policy; equally, there is much scope for critical discussion and debate.