This paper looks at the history of money and its modern form from a scientific and mathematical point of view. The approach here is to emphasize simplicity. A straightforward model and algebraic formula for a large economy analogous to the ideal gas law of thermodynamics is proposed. It may be...

This paper explores the determinants of job search behavior, search intensity and choices of search methods of the unemployed workers in transitional Russia. We use pooled data from rounds 5-9 of the Russia Longitudinal Monitoring Survey (RLMS) to estimate the effects of socio- economic factors...

Data on physical capital are an indispensable part of economic growth and efficiency studies. In the case of China, economy-wide fixed asset series are usually derived by aggregating gross fixed capital formation (net of depreciation) over time, and sectoral/ownership-specific series by...

What determines the speed of the technology diffusion? What are the consequences of diffusion? This paper presents a model to address these questions. Skilled machine-users adopt a new technology first, while unskilled users wait until machines become more reliable and accessible. The quality...

This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...

This paper asks two questions. First, can we detect empirically whether the shocks recovered from the estimates of a structural VAR are fundamental? Second, can the problem of non-fundamentalness be solved by considering additional information? The answer to the firrst question is 'yes' and that...

Pro Poor Growth has become a central concern to achieve sustainable poverty reduction in developing countries. Despite being widely used, the term is not well-defined nor has there been a clear policy document that would summarize the determinants and policy implications of pro poor growth. This...

Compared to many cross-country studies on the determinants of growth rate, time series approaches are relatively few and limited in scope. However, time series studies are useful for country-specific policies. But in many recent works ad hoc specifications have been used to analyze the...