The aim of this paper is to study the role that prices play in the New Neoclassical Synthesis. It is shown that although the New Synthesis emphasizes the importance of having a monetary theory to recommend monetary policies, it essentially offers the same answers on the minor role of prices in...

This paper analyses the contribution of public capital stock to output and productivity growth in Spain. We use a simple growth general equilibrium model in which public capital stock is included as an additional input to private factors. Calibration of the model to the Spanish economy for the...

This paper seeks to point out and to correct some mistakes of the conventional theory of imperfect competition based on partial equilibrium analysis. It extends to imperfect competition the classical model of general equilibrium, signaling the interconnections between individual prices and...

Between 2006 and 2014, Bolivia experimented an economic boom period driven mainly by high international prices of commodities. Paradoxically, in the same period, social demands increased and concerns related to the high levels of corruption in public administration did not ease, thus suggesting...

Between 2006 and 2014, Bolivia experimented an economic boom period driven mainly by high international prices of commodities. Paradoxically, in the same period, social demands increased and concerns related to the high levels of corruption in public administration did not ease, thus suggesting...