The other day, a reporter asked me three questions about the current state of Spanish and European banking. Among all the areas of economic analysis, I find monetary economics and banking most interesting. In 1992, together with three coauthors, I published one of the first articles about general equilibrium economics that had the word “banking”…

Online social networks are one of the success stories of the Internet era. Facebook Inc. has roughly 1.15 billion monthly active users and its market capitalization of $131 billion is close to double the valuation of Goldman Sachs and approximately equal to the valuation of BP. An example of a direct value that users of online social networks…

The risk is too high therefore there will be an agreement. We will never arrive at default ...

The current crisis has brought the old word “zombie” back into fashion. Originated  in some black African cultures and associated today mostly with Haitian customs, “zombie” usually designates a dead person brought back to life by means of what one calls black magic or, more precisely, its lowest form, necromancy, a time-reviled practice. Economic zombies,…