Author page: Vladimir Tyminsky

Eurozone on the Verge of Widespread Negative Interest Rates

DOI: 10.33917/es-3.169.2020.50-54

The global economy, including the eurozone, experienced a shock in 2008. As one of the consequences, central banks of the largest economies in the world, in order to support economic activity, reduced interest rates on loans. Although 11 years have passed, in the eurozone lending rates still remain extremely low. This indicates that the monetary union has not yet recovered from the post-crisis state. In fact, more and more probable is becoming a recently inconceivable scenario that the eurozone for a long time will get into the era of negative interest rates.

Federalism Impact on Economic Growth: an Institutional Perspective

#4. Why that is needed?
Federalism Impact on Economic Growth: an Institutional Perspective

Many states include the word “federation” in their name, which allows to assume that most people have positive perception of federalism as a form of governance. Switzerland and some other countries have shown how fiscal federalism can work in practice for the benefit of society. At the same time, the states that try to copy this undoubtedly positive experience, as a rule, encounter significant difficulties. The article shows how fiscal federalism can influence economic growth of the state and explains why “working” federalism occurs so rarely.