This paper has been prepared to mark the tenth anniversary of Economic and Monetary Union (EMU). It seeks to give an overview of the Spanish economy’s experience in this new institutional setting. It should be viewed as the result of a joint effort by a sizeable group of researchers from the...

This article examines the costs of banking pollution and the role of regulation and restrictions on the financial system in tackling it. It studies the benefits of such restrictions in terms of modularity, robustness and incentives, and the costs in terms of the economies of scale and the...

This article analyzes the causes of U.S. mortgage backed securities crisis, a crucial market in the financial panic of 2008. It shows that irrational behavior of investors is not infrequent, as evidenced by Ponzi schemes and bubbles. A comparison is made between traditional and new models of...

The current financial crisis, hitting the very nucleus of capitalist metropolis and placing its roots and causes at the spheres (financial and commercial ones) that have been privileged by neo-liberals, is another sample of the scarce or nonexistent viability of neo-liberal projects, having in...

Spanish Abstract: Este documento analiza algunos momentos clave en el desarrollo e historia del rublo como medio de pago, haciendo énfasis en el hecho de que su curso se ha relacionado con un proceso de occidentalización del manejo monetario, que ha permitido soslayar en varios momentos, la...

The paper discusses different attempts to measure economic growth in Europe before the Industrial Revolution. It is argued that the figures published by Angus Maddison probably overestimate growth between 1000 and 1820. Next, a method for simulating long-term patterns of growth is presented, and...

En las páginas que siguen se estudia, siguiendo las vicisitudes biográficas de un ingeniero militar madrileño y más tarde director de empresas, la formación de un grupo empresarial que se ocupó de la promoción industrial y de la gestión de servicios públicos en las provincias de Granada...

Este ensayo examina el intento por parte de Jordi Maluquer de Motes de construir “una nueva y más sólida estimación del Producto Interior Bruto de España”. Para ello elabora una serie histórica del PIB a precios corrientes para 1850-1958. Además, extrapola retrospectivamente las series...