Igglesis Nikos, The Revolution of Grexit: The Plan

Abstract. On July 5, 2015, Greece held a referendum for deciding on the blackmailing proposal submitted by the Institutions of the Eurogroup on 25th of June 2015. On the threshold of the credit suffocation, the Greek people did not relent and they expressed through their vote (a percentage of 61, 31% and 3.558.450 votes) their objection; one more “NO” in their history, similar to this of 28th October of 1940. However, the Greek leaders flinched to express this “NO” using tangible policies even if the short term consequences would be painful. Instead, the foreign partners, allies and friends to Greece “which belongs to the West”, still follow a strict austerity policy which has resulted in poverty of the majority of the Greek people, and in the stagflation. Igglesis Nikos, in his book “The Revolution of GREXIT: The Plan”, makes an attempt to present in a detailed way what the Greek people decided…an alternative and sustainable solution.Keywords. Grexit.JEL. A10

Discretionary fiscal policy in the EMU context : an empirical approach (1981-2010) and the recent reform of European governance

This paper attempts to investigate how the Maastricht criteria and the Stability and Growth Pact (SGP) have impaired the capacity of Euro Zone (EZ) national authorities to conduct discretionary fiscal policy. We estimate fiscal determinants for the structural (discretionary) public deficit over the period of 1981-2010, estimating panel data equations in order to increase the strength of the test by enhancing the time series dimension of the data by the cross section. We find that the degree of the countrecyclicality of discretionary fiscal policy has been reduced significantly after the Maastricht Treaty. Also, there is empirical evidence that national fiscal rules have a significant positive impact in budgetary outcomes. Regarding the recent reform of the European governance framework, we consider that the context of the reform seems incapable of dealing with the factors which are responsible for the sovereign debt crisis. We stress the need for reforms in the financial sector which seem necessary to ensure in association with sound fiscal policies the stability in euro area.peer-reviewe

Discretionary Fiscal Policy in the EMU Context: An empirical approach (1981-2010)

The paper attempts to investigate how the Maastricht criteria and the Stability and Growth Pact have impaired the capacity of EZ national authorities to conduct discretionary fiscal policy. We estimate fiscal determinants for the structural public deficit over the period of 1981-2010, estimating panel data equations in order to increase the strength of the test by enhancing the time series dimension of the data by the cross section. We argue that the degree of the countrecyclicality of discretionary fiscal policy has been reduced significantly after the Maastricht Treaty. Also, the empirical evidence shows that national fiscal rules have a significant positive impact in budgetary outcomes

Financial sector and business cycles determinants in the EMU : an empirical approach (1996-2011)

This paper investigates potential business cycles determinants for the EMU countries among financial sector indicators examining at the same time the link between financial sector variables and business cycles volatility. We find that the total value of stocks traded, the private sector debt and the net inflows of FDI constitute significant determinants of business cycles fluctuations. Financial openness has an increasing effect on business cycles volatility while there is an unsettled relationship between financial depth and volatility. Another important finding of the paper is that the analysis provides evidence in favor of the occurrence of opportunistic political business cycles among EMU counterparts. The robustness of the above findings is verified via the use of relevant econometric methods such as EGLS, GLM and fixed-effect models.peer-reviewe

Taylor’s Scientific Management

Frederick Taylor is known as the father of modern management. Taylor’s scientific management revolutionized industry and helped shape modern organization. Scientific management revolutionized industry because it explains how to increase production by working smarter, not harder. Taylor’s ideas were not limited to only serving the company’s bottom line but the increase in productivity benefited the workforce as well. The principles of scientific management became a machine of universal efficiency since there was a widespread use of scientific management worldwide and beyond the scope of the workplace. Taylor’s theories on using science and statistical fact have become a guideline that many have followed to great success