The current economic system is dysfunctional, characterised by crises, austerity, excessive household and government debt, low pay, poverty, inequality, and ecological damage. This needs a radical re-think and re-engineering of the economic system. The standard explanation of the 2007 economic...

We measure the amount of central bank seigniorage generated in three economies in transition, and inquire to what extent seigniorage ultimately accrues to the government. We relate our findings to the institutional environment of the three countries. In particular we document that, in parallel...

The 1989 crisis in Cuba translated into the accumulation of real internal disequilibria, with large impacts in both the fiscal and the monetary environments. As in most transition economies, monetary manifestations included a repressed inflation in the regulated market; price increase in the...