Some economists have argued that the process of disintegration of the world economy between the two World Wars led to …

The paper discusses recent world income inequality calculations by Sala- i-Martin. It shows that the two main problems … of income augmented by a constant shift parameter and not a distribution of income among world citizens. …

The paper shows that the current view of globalization as an automatic and benign force is flawed: it focuses on only … one, positive, face of globalization while entirely neglecting a malignant one. The two key historical episodes that are … adduced by the supporters of the “globalization as it is” (the Halcyon days of the 1870-1913, and the record of the last two …

Investment decision-making is modeled by means of a Kohonen neural net, where neurons represent firms. This is done in …

This paper analyzes a model of investment with fixed investment costs and capital market imperfections. In this model … finance influences the level of capital firms hold, as well as the frequency at which they invest. In consequence investment …, when the short-run investment function is estimated, liquidity has a significant impact, which is also strongest for strong …

Limited liability debt financing of irreversible investments can affect investment timing through an entrepreneur … entrepreneur's unique investment opportunity, and it is shown in a standard model of irreversible investment that includes the … risks, and lowers the investment threshold. Compensating the lender for expected default losses reduces project …