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Regular version of the site

Book chapter

Structural and Technological Stalemate in Eurozone: If This Is the Reality, What We Can Expect?

P. 43-64.
Akaev A., Ichkitidze Y., Sokolov V. N.

Even six years after the acute phase of Great Recession 2007-2009, euro area economy does not show strong growth, which is indicating a severe structural and cyclical imbalances in the European economy. Empirical data evident that Euro area economy as the US, since 2009 are located in an unstable equilibrium that is prone to buckling under the influence of small internal or external price shocks. For the detection of the bifurcation process, i.e. transition to a state of metamorphosis, we have specially developed models of nonlinear dynamics, which describe five possible state of the economic system and, in particular, show that the Eurozone economy is entering a very important stage of bifurcation and the consequences of which are fundamental to determine the nature of the future economic development of both European and global economy.

In book

Edited by: T. Devezas, J. Leitao, A. I. Sarygulov. Springer, 2017.