Weak Expansions: A Distinctive Feature of the Business Cycle in Latin America and the Caribbean

Esteban Pérez Caldentey, Daniel Titelman, Pablo Carvallo

…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…
More ›

Macro Policies For Climate Change: Free Market Or State Intervention?

Pablo Ruiz Nápoles

…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…
More ›

Gambling with “Human Capital”: on the Speculative Logic of the “Knowledge Economy”

Jean François Bissonnette, Christian Laval

…and thus, that only those economic and political actors who manage to produce and make use of the rarest innovations and skills will prevail in the global competition between firms…
More ›

Again on Piketty’s Capital in the Twenty-First Century or Why National Accounts and Three Simple Laws Should not be a Substitute for Economic Theory

Christian Flamant

…made by Piketty between “capital” and “wealth” which for him cover the same economic reality, and shows that productive capital, real estate capital and net financial assets cannot be put…
More ›

The Price Cannot be Right: Taxation, Sub-Intrinsic-Value Housing Bubbles, and Financial Instability

Gavin R. Putland

…parameters, on the hypothesis that prices reflect net present values (NPVs) of future cash flows. Special cases are noted and interpreted. The formula explains the counterintuitive observation that a stamp…
More ›

Does Saving Increase the Supply of Credit? A Critique of Loanable Funds Theory

Fabian Lindner

…lower interest rates and thus more funds to be used by firms for investment. The paper shows that proponents of this theory confuse quite different economic phenomena and commit serious…
More ›

Austerity in Mexico: Economic Impacts and Unpleasant Choices Ahead

Juan Carlos Moreno-Brid, Noel Pérez-Benítez, Héctor J. Villarreal

…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…
More ›

Rethinking Economics: Downs with Traction

Stuart Birks

…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;…
More ›

Submissions

…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…
More ›