Macroeconomic Asymmetries in the Eurozone Countries in the Time of Financial Crisis

This paper seeks to highlight the macroeconomic asymmetries and social impacts among eurozone countries which occurred during the time of the financial crisis,emphasising the urgent need to revise the framework of economic governance.The analysis focuses on the growing macroeconomic and social imbalances on a representative sample of selected eurozone member-states(Euro(€)North and Euro(€)South)which had posed a threat to economic sustainability and social coherence.

Insurance market density and economic growth in Eurozone countries:the granger causality approach

Background:This study examines the relationship between insurance market density(IMD)and economic growth.Methods:We employed Granger causality technique in 19 Eurozone countries for the period 1980-2014.We use three different indicators of IMD,namely life insurance density,non-life insurance density,and total insurance density.We particularly emphasize on whether Granger causality runs between IMD and economic growth both ways,one way,or not at all.Results:Our empirical result recognizes the presence of both unidirectional and bidirectional causality between insurance market density and economic growth.However,these results are mostly non-uniform across Eurozone countries.Conclusions:This study holds important policy implications-economic policies should recognize the differences in the insurance market density and economic growth in order to maintain sustainable economic growth in the Eurozone.