Institute of Information Theory and Automation

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Systemic Risks and Imbalances in European Economies during the Crisis: Theory and Evidence

Agency: 
GACR
Identification Code: 
GA13-11983S
Start: 
2013-02-01
End: 
2015-12-31
Project Focus: 
teoretický
aplikační
Project Type (EU): 
other
Abstract: 
The project will theoretically and empirically investigate the effects that systemic, mostly supranational financial shocks and policy responses (local and global) to these shocks have on behavior, economic performance and welfare of the private sector in open economies. We want to contribute to answering the following questions: (a) What type of economic integration, i.e. through trade, corporate production chains or financial markets, is more likely to support systemic risk propagation as opposed to their containment? (b) What kinds of supranational policies are least prone to engendering new systemic disturbances while counteracting existing ones? The analysis will be conducted with a particular regard to structural and institutional specifics of Europe. Namely, we will be studying interacting small-to-medium size open economies in which overarching institutions often mimic those of a textbook big closed economy but lack the corresponding implementation authority.
Publications ÚTIA: 
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2016-01-18 15:56