The analysis of economic policy is made through a new methodology using the information provided by businesses to the Bank of Spain. The financial statements are the result of economic and financial transactions in a year and show a behavior that is likely to be measured by applying the Edgeworth’s box for analysis. This means that it is possible to measure the response of firms against market disruptions through an accounting interpretation of the information contained in the financial statements. The indicators obtained through this methodology measure a position taken in the Edgeworth’s box. Consequently, the observations obtained are random and therefore may explain the evolution of the economy of any country.
Financial Stability Board (FSB) (2013) Strengthening Oversight and Regulation of Shadow Banking. An Overview of Policy Recommendations. http://www.financialstabilityboard.org/publications/r_130829a.pdf
Reinhart, C.M. and Rogoff, K.S. (2008) Is The 2007 U.S. Sub-Prime Financial Crisis so Different? An International. Historical Comparison. National Bureau of Economic Research (NBER). Working Paper 13761. http://www.nber.org/papers/w13761
Ministry of Economy and Competitiveness. Stability Programme Update. Kingdom of Spain. 2013-2016. http://www.thespanisheconomy.com/stfls/tse/ficheros /2013/agosto/Stability_Programme_Update_2013_2016.pdf
Taylor. J.B. (2009) The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong. National Bureau of Economic Research. National Bureau of Economic Research (NBER). Working Paper 14631. http://www.nber.org/papers/w14631.pdf