The European Union (EU) is putting emphasis on the need to change the composition of public expenditures to what, according to the public policies endogenous models, is considered a high quality of public finances (i.e., a higher share of productive expenditures). These recommendations are the...

The most striking feature of the current economic situation in Spain is the huge unemployment rate, above 25 percent. From an orthodox perspective, we suggest that this unemployment is the result of a highly inflexible labor market, which needs to be reformed by introducing flexibility measures....

Public pension systems have long been a focus of special attention by neoclassical economics. In a context of intense aging processes, mainstream economists argue that the replacement of the pay-as-you-go pensions systems by unfunded individual savings accounts will have a positive impact, at a...