From the perspective of the late 1930s and 1940s the dominant view was that the inter-war currency experience was a financial disaster. The view is perfectly encapsulated in the League of Nations' publication The Inter-war Currency Experience, the bulk of which was written by Ragnar Nurkse and...

We relate the phenomena of sluggish interregional labour reallocation and in-kind compensation in Russia to 'attachment' strategies of firms: Paying wages in non-monetary forms makes it hard for workers to raise the cash needed for quitting their region in order to find better jobs in more...

Much of the literature surrounding Schumpeter's 1942 Capitalism, Socialism and Democracy has focused on his reformulation of democratic theory rather than on the perceived tensions in the classical variant which motivated his reorientation. In contrast to the position of Schumpeter, the rational...

This paper studies life cycle creativity among Nobel laureate economists. We identify two distinct life cycles of scholarly creativity. Experimental innovators work inductively, accumulating knowledge from experience. Conceptual innovators work deductively, applying abstract principles. We find...

Volatility in exchange rates is a prominent feature of open economies, a fact which has motivated elaborate attempts in many countries at exchange rate management. This paper analyzes quantitatively the welfare effects of exchange rate risk in a general two-country environment. It finds that the...

The paper deals with Costantino Bresciani Turroni's contribu-tion to the statistics and theory of distribution of wealth, with emphasis on his critical interpretation of the "Pareto curve". The paper suggests that the two economists remain on opposite sides both on the criteria of measurement of...

Based on my previous publications and many other sources, I trace the history of social statistics before the 20th century and link it with the development of the statistical method in natural sciences. Many recent statistical issues had scarcely, or not at all existed then, and before Lexis...

Emmanuel Saez, winner of the 2009 John Bates Clark Medal, has distinguished himself by making fundamental contributions concerning critical theoretical and empirical issues within the field of public economics. He is one of those exceptional scholars whose work reflects a broad and thoroughly...

The bicentenary of Adam Smith's Wealth of Nations in 1976 was marked by the publication of a new complete edition of his works and correspondence, bringing together for the first time all extant published and unpublished writings. A basis was thereby provided for serious reconsideration of Adam...