The objective of this article is to present the economic theory of capital controls, that is, the theoretical arguments that favor the introduction of capital controls. In this setting we will argue that economic theory have three main arguments for the introduction of capital controls: to...

This article shows that neoclassical growth models are not capable to explain the existence of diverging growth rates of per capita income between countries, but only the occurrence of divergent levels of per capita income. The explanation to this lies in the fact that these models are, in...

The objective of this paper is to show that open economies that have (1) a high degree of capital mobility, (2) a low degree of organization in financial markets, and (3) a high sensibility of net exports to changes in the level of economic activity may have bubbles in asset prices if there is...

This paper uses a growth model with dynamic panel techniques in order to investigate how (and if) the institutional architecture of inflation targeting regimes affects the growth performance of the countries that adopt this kind of monetary policy. The sample used to build the panel consists of...

In this substantial new collection, esteemed Post-Keynesian scholars reassess the relevance of Keynes’s The General Theory to a broad array of topic areas, ranging from the environment, investment finance, exchange rates, and socialism, as well as inquiries into general Post-Keynesian theory.