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This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century. What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the...
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This paper identifies a "border" effect in the absence of a border. The finding that trade between East- and West-Japan … contemporaneous structure of Japan’s business and social networks, rather than cultural differences, induced by long …
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The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These …
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