In this paper we take into account the role of the banking system, credit and stock market in stimulating aggregate demand in post Keynesian tradition. According to the results of impulse response analysis; it appears all three financial development indicators contributed as expected in...

The “broken window” of Bastiat (1850) can be extended to any amount of destruction and can be extensively spotted in the works of mainstream economists, particularly those of Joseph Schumpeter who derived the term “creative destruction”. While natural disasters are different from other...