infringements. It gives promises for both solving fundamental problems of economic theory and creation of new directions and fields …

Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It … declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that … money has nothing to do with traded output, but everything to do with storing value. But now a new trade theory takes over …

This paper examines the determinants of the rate of forced insolvency in New Zealand. The study incorporates two key … variety of economic experiences over the sample period (1988–2003). Second, we explain the total rate of forced insolvency in …

This paper develops a growth theory that captures the replacement of physical capital accumulation by human capital …

What drives capital inflows in the long run? Do they follow the predictions of neoclassical theory, or are other forces …

capital inflows. In this paper, I estimate the factor shares implied by the long-term dynamics of external debt observed in … plausible capital shares and cross- country distributions of debt-to-GDP ratios. This suggests that capital accumulation may …