Progress in Economics Research

This volume includes seven chapters that detail progress in economics research. Chapter 1 examines the fundamental determinants of decentralized money creation by commercial banks and offers a dynamic equilibrium model of the banking industry that creates deposits to finance loans. Chapter 2 assesses how the interaction between the informal economy and institutional quality influences income inequality, using annual cross country panel data for 28 European Union member states over the period 2005-2017. Chapter 3 explores whether local skilled immigration impacts local economic activity, measured by real gross domestic product per capita in MSAs. Chapter 4 investigates the ethical and reputational implications of greenwashing in digital marketing by analyzing three high-profile case studies: Coca-Cola, H&M, and Volkswagen. Chapter 5 aims to define financial crises and help contribute to the understanding of the measures that can be taken to avoid new crises. Chapter 6 presents the current market position of handmade goods, key factors influencing consumer preferences, and strategies to enhance the competitiveness of handmade brands. Chapter 7 discusses the relationship between the severity of recessions experienced by countries and their income distribution levels.