Template-Type: ReDIF-Article 1.0
Author-Name: Pavel E. Zhukov
Author-Email: joukov@rambler.ru
Author-Workplace-Name: Financial University under the Government of the Russia, Moscow, Russia
Title: Sovereign Debt Crisis and National Policy Efficiency
Abstract: The article reviews the reasons of the international economic crisis in its present stage, i.e. sovereign debt crisis and proposes a hypothesis whereby the fundamental cause of the crisis is the continuing trade misbalance between the developed and developing countries. IS-LM and AS-AD models explain non-efficiency of the current anti-crisis policies and the risk of falling into the stagnation trap of the European Union and the US economies.
Classification-JEL: H63, H68
Keywords: international economic crisis, sovereign debt crisis, trade misbalance, current accounts balance, monetary policy, IS-LM model, AS-AD model, stagflation trap
Journal: Finansovyj žhurnal — Financial Journal
Pages: 37-48
Issue: 2
Year: 2012
Month: April
File-URL: http://www.nifi.ru/images/FILES/Journal/Archive/2012/2/statii/2012_02_05.pdf
File-Format: Application/pdf
Handle: RePEc:fru:finjrn:120205:p:37-48