New Keynesian Economics that rely on the DSGE technology has been criticized as being hopelessly inadequate for dealing with financial crises of the type that we have seen in recent years or - more generally - with failures of the intertemporal price mechanism to coordinate investment and...

The functioning of multi-nation monetary unions with several central banks is conditioned by many factors and considerations, such as the capacity to deal with crises, the political will and operational skill to foster financial integration and to develop a mix of rules and discretion in the...