Economic growth is ardently emphasized as a requisite underpinning not only for improving individual income, the standard of living, and a society's infrastructure, but also to attain equitable distribution of necessities, critical resources, and public goods such as education, healthcare, and...

Revolutions do not consolidate until they blend with the establishment to create a new world. Keynes understood it, and that is why he titled his masterwork The General Theory. But he was unsuccessful in the blending. In 2020-21, it is argued in here, we all follow Keynes, but with insufficient...

This paper extends Piketty's analysis of the wealth-income ratio used as a proxy for wealth inequality, to allow for innovation. Drawing on a Schumpeterian (R&D-based) growth model that incorporates both tangible and intangible capital and using historical data for 21 OECD countries, we find the...

The upward sloping trend of rents and house prices has initiated a debate on the consequences of surging housing costs for wealth inequality and welfare. We employ a frictionless two-sectoral macroeconomic model with a housing sector to investigate the dynamics of wealth inequality and the...

The upward sloping trend of rents and house prices has initiated a debate on the consequences of surging housing costs for wealth inequality and welfare. We employ a frictionless two-sectoral macroeconomic model with a housing sector to investigate the dynamics of wealth inequality and the...

The upward sloping trend of rents and house prices has initiated a debate on the consequences of surging housing costs for wealth inequality and welfare. We employ a frictionless two-sectoral macroeconomic model with a housing sector to investigate the dynamics of wealth inequality and the...

The regulation of bank liquidity has been one of the primary issues in the developed regulatory requirements of banks (Basel III). We by this paper examine two concerns that have not been addressed in Basel III and are of prime importance for the realization of a more effective liquidity...

In this article we underline the effects of the crisis that erupted in the U.S. in 2008, due to financial hazard, and then spread everywhere, to assess how the euro zone (EMU) and its countries have acted. We will consider two periods that the EMU has passed through, each characterized by a...

Referring to the role credit-rating agencies played in the most recent global financial crisis, the Financial Crisis Inquiry Commission – FCIC concluded that “… the failures of credit rating agencies were essential cogs in the wheel of financial destruction.” The reasons for such...