Money was, until Keynes and Friedman, the great absence in economic literature. After them, relations between money and long economic cycles have been in their turn absent in debate. Perhaps this conform an explanation for logical and chronological relations between business cycles and long...

The purchasing power's difference between currencies appears to trigger a person to make the decision of emigrating, but it does not look to be the only one. European Union enlargement, immigration policies, as well as different personal and/or psychological reasons, have modified migrations...

Optimal tax and monetary policies in a stochastic monetary growth model are investigated. Our findings are of three general types. First, both capital income taxes and monetary growth are shown to influence the economy through effective risk adjusted measures, expressed as a linear function of...

We study several popular monetary models which generate a non-degenerate stationary distribution of money holdings. Across these environments, our principal finding is as follows: a monetary policy that sets long run nominal interest rates to zero (the Friedman rule) does not typically maximize...

Almost all institutions - employment protection legislation, unions, wages, wage structure, unemployment insurance, etc. - have been alleged and found guilty to have caused this tragic development at some point in the long history of rising and persistent unemployment in Europe. US labor market...

Inflation rates in a number of OECD follow a common trend over the past four decades: inflation starts out low in the 1960s, rises for a time before peaking in the 1970s or early 1980s, and then falls back to initial levels. This similarity in the behavior of trend inflation suggests that any...