these smaller networks risk is not fully shared. In the event of a health shock, households reduce overall consumption: they … cut back non-food consumption by roughly 30%, while protecting their food consumption. …

The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this … indirect trade, money also must be used. Micro says that price is equal to marginal cost, rejecting trade theory’s claim that … trade is gainful. To remove these and other contradictions, price theory must be repaired. Money’s role in market clearing …

-level per capita income and poverty rates. I define the quality of the judiciary in terms of: (i) its speed in deciding trials …, such as agricultural production, private sector development, capital formation, poverty rates, public security and … the agricultural and private services sector, the poverty rate, the transportation infrastructure density, the rental …

employment performance than decentralised ones. We apply static and dynamic panel data techniques to a panel of EU countries. Our …

This paper investigates the effects of cooperation (corporatism) on macroeconomic performance by considering a rather … model cooperation in policy games (the maximization of the weighted sum of players’ preferences), which only approximates …