…to support such high prices, there will be a sub-intrinsic- value bubble – a condition in which prices, although lower than NPVs, are unsustainable due to unserviceable debt. The suggested…
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Traditionally most home buyers in the US need a mortgage and the current system of mortgage origination creates an incentive for borrowers to offer bids on homes far higher than…
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This paper reviews Piketty’s book Capital in the 21st Century. Although the facts described by Piketty are widely indisputable, the paper criticizes the actual economic theory underlying the central thesis…
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…Pacific’s cumulative gain in labor productivity during the expansionary phase is twice that of LAC. Moreover, the evidence also shows that the effects of the contraction in public investment surpass…
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…conceptual framework for debating public policy for analyzing the policies recommended and applied so far, to deal with Climate Change’s causes and effects, from an economic perspective. We present the…
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…on the grounds that valuing financial assets is a matter of judgment. Financial assets do not have any intrinsic utility; hence allowing markets to price them implies their price changes…
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…net financial assets) through a reduction in expenditures reduces other economic units’ revenues and thus their ability to spend and save. Using the concept of excess demand and supply, it…
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…episodes that Mexico has experienced during the last four decades. Subsequently it identifies the effects that public spending cuts have had on investment and economic growth in Mexico. Next, it…
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…effects of rhetoric on policy debate, and the importance of “traction” on political agendas are then considered. Propositions are presented indicating, in particular: policy issues will only be addressed spasmodically;…
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…paper applies a funding rule projects returns based on current price to earnings ratios in the stock market. It runs a number of simulations based on the pattern of stock…
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…production advantages into absolute price advantages, full employment and the perception of international trade as a static and harmonious phenomenon. It is shown that all these assumptions are neither theoretical…
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…then the unemployment rates of 25% in Greece, 23% in Spain, 13% in Portugal, and 10% in Ireland are simply the short-run price paid for a stronger future. If they…
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…should be given at the end of the articles in the following style with hyperlinks wherever useful and possible. For a review of the Harvard system, see: http://www.library.dmu.ac.uk/Images/Selfstudy/Harvard.pdf or http://www.cse.dmu.ac.uk/~bstahl/HarvardStyle.htm…
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