Economic crises: changes and challenges. A historical perspective
MINISTERIO DE ECONOMIA; INDUSTRIA Y COMPETITIVIDAD
Concha Betrán Pérez (Universitat de València)
M. Ángeles Pons Brias (Universitat de València)
The objective of this research project is to study the main changes and challenges that Spain has faced in the last 150 years. The main issues to be examined are five: 1) the macroeconomic impact of crises, with an emphasis on the relationship between the severity of each crisis and external and internal imbalances; 2) changes in the financial system: how the financial structure changes during and after crises, what happens to the supply of bank credit and what is the role of the central bank (Banco de España) and the public bank (Instituto de Crédito Oficial) in crisis resolution; 3) an analysis of exchange rate policy as an instrument of monetary policy and an analysis of unconventional monetary measures to achieve macroeconomic stability; 4) the effects of the crises on the public sector budget and public debt; 5) the impact of the crises on international trade and on the country’s specialization compared to the rest of the world, and 5) the impact of the economic crises on the labor market and the levels of inequality. The history of crises can shed light to better understand the current economic situation and the possible lessons that can be drawn from history can help meet the challenges of the future.
Concha Betrán Pérez Yolanda Blasco Martel (Universitat de Barcelona) Francisco Comín Comín (Universidad de Alcalá) Joaquim Cuevas Casaña Juan Flores Zendejas (Université de Genève) Michael Huberman (Université de Montréal) Pablo Martín Aceña (Universidad de Alcalá) Elena Martínez Ruiz (Universidad de Alcalá) Pilar Nogués-Marco (Université de Genève) M. Ángeles Pons Brias