During the recent Financial Crisis, as well as the 2010 and ongoing European Sovereign Debt Crisis, several governments had/have had to raise their debt levels in order to stabilize their economies. The principal problem attributed to sovereign debts, which is linked to their characteristics, is...

Despite Basel III’s efforts to address capital and liquidity requirements, will the risks linked to regulatory arbitrage increase as a result of Basel III’s more stringent capital and liquidity rules? As well as Basel III reforms which are geared towards greater facilitation of financial...

Although the Bank of Canada admits asset prices are considered in its policy deliberations because of their effects on inflation or output gap, the Bank of Canada denies trying to stabilize asset prices around fundamental values. However, since the start of the Bank of Canada we have seen a boom...

Presenta la continuación de un estudio publicado en 1973, cuyo carácter es esencialmente pedagógico. Los temas tratados en el mismo son: primero conceptos básicos de, el dinero, valor del dinero, demanda del dinero, velocidad ingreso de la moneda, relación entre la demanda de dinero y la...

Recent empirical and theoretical literature on the impact of real exchange rate devaluations on economic performance questions the traditional expansionary effect generated within standard Mundell-Fleming models. Contractionary devaluations may arise when firms face maturity or currency...

The 2010 Report continues the tradition of pushing the frontiers of development thinking. For the first time since 1990, the Report looks back rigorously at the past several decades and identifies often surprising trends and patterns with important lessons for the future. These varied pathways...

The economic history of the United States is riddled with financial crises and banking panics. During the nineteenth-century, eight major such episodes occurred. In the period following World War II, some believed that these crises would no longer happen, and that the U.S. had reached a time of...

La curva de oferta de trabajo, derivada a partir del principio de la desutilidad marginal del trabajo, no ha sido nunca puesta en discusión, ni siquiera por Keynes (2007). Sin perjuicio de esto, la presentación tradicional presenta algunas complicaciones que son analizadas en el presente...

This book is based on the premise that mainstream economics has become excessively specialized and formalized, entering a state of de facto withdrawal from the study of the economy in favour of exercises in applied mathematics. The editors believe that there is much scope for synergies by...

This thought-provoking book discusses the concept of progress in economics and investigates whether any advance has been made in its different spheres of research. The authors look back at the history, successes and failures of their respective fields and thoroughly examine the notion of...