Progress in Economics Research. Volume 56

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.