In this paper we derive a theoretical macro accumulation function, which relies on the accelerator principle and is complemented by utilizing capacity and profits. This investigation also accounts for several sources and kinds of uncertainty: exchange rates for financial uncertainty, oil prices...

The dominance of the orthodox paradigm over the last decades prior to the “great recession†left no room for the notion of “endogenous money†in the development of economic theory. However, this alternative direction of the causality of demand for money-credit and economic...

This paper provides a theoretical explanation of the accumulation process, which accounts for the developments in the financial markets over the recent past. Specifically, our approach is focused on the presence of correlations between physical and financial investment, and how the latter could...

Relevant economic literature frequently focuses on the impact of credit shocks on housing prices. The macroeconomic doctrine of the new consensus macroeconomics completely ignores bank credit. However, the Great Recession has highlighted the importance of bank credit. The purpose of this article...

Relevant economic literature frequently focuses on the impact of credit shocks on housing prices. The macroeconomic doctrine of the new consensus macroeconomics completely ignores bank credit. However, the Great Recession has highlighted the importance of bank credit. The purpose of this article...

The 2008–10 financial crisis and the global recession it created is a complex phenomenon that warrants detailed examination. The various essays in this book utilise several alternative paradigms to provide a plausible explanation and a credible cure. Great detail is given to this important...

The 2008–10 financial crisis and the global recession it created is a complex phenomenon that warrants detailed examination. The various essays in this book utilise several alternative paradigms to provide a plausible explanation and a credible cure. Great detail is given to this...

In 2008, Spain exceeded by 20.9% the CO2 emissions allowed by the Kyoto Protocol for 2012. The financial and economic crisis has transformed these figures: as production fell so did energy demand and with it CO2 emissions. Will the Spanish economic crisis allow Spain to fulfill its commitments?...

This paper develops an extended input-output model for the estimation of energy demand and related issues. It is built on the last Spanish Symmetric Input-Output Table (IOT, 2005). It has been tested for the period 2005-2008 and used for forecasting energy demand for the years 2009-2012 under...

The paper deals with the development of the Financial Transactions Tax (FTT) policy idea and its feasibility in the absence of global coordination. New taxes are evaluated in terms of how they fit into existing national tax systems. Increasingly, however, cross-border issues assume greater...