EIRP Proceedings, Vol 4 (2009)

Abstract

The causal structure of the present financial and economic crisis leads us to a revisiting of the economic cyclicity, especially concerning the temporal dimension of the economic cycle. In this end, the authors analyze the nature of the above mentioned crisis, from some point of views. As a result, some crucial
directions of action are established as follows: the external channels of transmission of the crisis, the channels
of transmission of the financial crisis into the economic crisis, the "optimal" order of the anti-crisis measures. Some possible adverse effects are pointed out in order to prevent any undesirable consequences of the governmental intervention against the crisis effects.