This paper analyzes the Fisher effect in Australia. Initial testing indicates that both interest rates and inflation contain unit roots. Furthermore, there are indications that the variables have non-standard error processes. To overcome problems associated with this and derive the correct small...

type="graphical" xml:id="gpol12102-abs-0002" <p>New Institutional Economics (NIE) provides a compelling explanation for the failure of donors to achieve demonstrable development results in the past half century. The paper studies the economic and social history of developed countries and looks at...</p>

In this paper we estimate the effect of particular price incentives on consumer payment patterns using transaction-level data. We find that participation in a loyalty program and access to an interest-free period tend to increase credit card use at the expense of alternative payment methods,...

This paper makes the case that the structure of payment systems is such that, in contrast to competition in normal markets, private incentives can encourage activities and pricing that do not necessarily improve social welfare. Furthermore, while there is usually a reasonable presumption that...