The paper analyses in light of Austrian and Keynesian economic theory the impact of conventional and unconventional monetary policies as therapies for financial crises. It compares the financial market stabilization measures of the Federal Reserve System and the European System of Central Banks...

According to the theory of efficient markets, economic agents use all available information to form rational expectations. The rational expectations hypothesis asserts that information is scarce, the economic system generally does not waste information, and that expectations depend specifically...

The networks of nominal flows between industries in a Social Accounting Matrix (SAM) framework are studied. The flows of the SAM submatrices of production (or output of goods and services) and intermediate consumption, are identified, which are constructed from the supply and use tables of the...

This paper introduces macroeconomic forecasters as political agents and suggests that they use their forecasts to in uence voting outcomes. We develop a probabilistic voting model in which voters do not have complete information about the future states of the economy and have to rely on...

The Swedish employment rate is high in an international comparison and has been rising during recent decades. This pattern is especially pronounced among the elderly and women and reflects labour supply behaviour in these groups. The policy survey in this report suggests that the main drivers of...

This paper holistically addresses the effective (relative) income tax contribution of a given income (or, wealth) group. The widely acclaimed standard in public policy is the absolute benefaction of a given income group in filling up the fiscal coffers. Instead, we focus on the ratio of the...

Natural disasters are an important source of vulnerability in the Caribbean region. Despite being one of the more disaster-prone areas of the world, it has the lowest levels of insurance coverage. This paper examines the vulnerability of Belize's public finance to the occurrence of hurricanes...

The debate about how to reconcile political with economic democracy is translated in the framework of wage- and profit-led growth in this paper. The inherent tension between providing sufficient profit incentive to motivate investment by the capitalist class and maintaining electoral...