This paper analyzes two instruments - asset-based reserve requirements put forward by Thomas Palley and asset-based capital requirements proposed by Charles Goodhart and Avinash Persaud - regarding their merits in reducing excessive asset price inflation. A theoretical framework of asset pricing...

In spite of superficial similarities, the way in which uncertainty is understood as a feature of the crisis by mainstream economics is very different from Keynesian fundamental uncertainty. The difference stems from the mainstream habit of thinking in terms of a full-information benchmark, where...

The purpose of this paper is to clarify the difference between the mainstream and Keynesian understandings of uncertainty which persists in spite of superficial similarities. It is argued that the difference stems from the mainstream habit of thinking in terms of a full-information benchmark,...

Despite of being affected by the economic crisis, the Netherlands managed to minimize its effects. This situation is highlighted in a comparison with Romania and the European Union, between the levels of the most important economic indicators. Moreover, when other countries registered negative...

The economic Triad is one of the most important players in the economic world. It is attracting the most of the FDI flows and it is the main investor of the world. The FDI flows between the members of the Triad, USA, Japan and EU, represents more than 400 billion dollars per year.

The economic relations between The Netherlands and USA represent an important pylon for the economic environment from both countries. USA is the main investor in the Netherlands because of it’ fiscal policies but the European country, despite of its small area, it is ranked in top 5 investors...

Structural vector autoregressive analysis aims to trace the contemporaneous linkages among (macroeconomic) variables back to underlying orthogonal structural shocks. In homoskedastic Gaussian models the identification of these linkages deserves external and typically notdata-based information....

Die Zentralbanken versuchen gegenwärtig mit dem Instrument der Zinsschraube beides zu erreichen: Inflationsabschwächung und Finanzmarktstabilisierung. Sie geben auch vor, separate Instrumente für beide Probleme zu haben. Aber ist das wirklich so? Unbestreitbar ist, dass die fiskalischen und...

After the corona crisis, and even more so when the war in Ukraine struck, the price levels of all goods in the US and Europe rose surprisingly quickly and persistently. The FED began in March 2022 and the ECB in July 2022 with historically unique interest rate increases to combat the wage-price...