Òscar Macaya Ferré Centre d'Estudis Superiors de l'Aviació   Reus, Tarragona 43203 Spain   omacaya.pdi@cesda.com             JEL Areas: E5 : Monetary Policy, Central Banking, and the Supply of Money and Credit: General E6 : Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General