In the words of the author: "The arguments of this article go counter to widely held notions. If they are shown to be wrong they will have to be reconsidered, but their unfashionable nature alone is no ground for doing so". We believe that this article could be the beginning of a discussion on...

At the beginning of the Second Development Decade (1970-1980) the Industrial countries set themselves the target of stepping up their public development aid to 0.7 p.c. of their GNP by 1975. The validity of this aim is still emphasised by representatives of international organisations as well as...

The effects of development aid programmes on the domestic economy of donors are relatively infrequently examined. This study reviews the impact of the United Kingdom's Development Aid Programme on the British economy over the period 1975-79 with particular attention to employment creation and...

We show that public guaranteed loans (PGL) increase credit availability improving real effects, but private banks' incentives imply that weaker banks shift riskier corporate loans to taxpayers. We exploit credit register data during the COVID-19 shock in Spain, and a stylized model guides the...

We show that a reduction in lender of last resort (LOLR) policy uncertainty posi-tively affects bank lending and propagates to investment and employment. We exploita unique policy that reduced uncertainty regarding the availability of future LOLRfunding for banks as a quasi-natural experiment....

We construct a New-Keynesian E-DSGE model with energy disaggregation and financial intermediaries to show how energy-related fiscal and macroprudential policies interact in affecting the euro area macroeconomy and carbon emissions. When a shock to the price of fossil resources propagates through...