The space-time structure of monetary production economies behaves by the macro- and microscopic duality of long-term and short-term wave functions via helical growth. As the global financial crisis deepens, a methodical quantum leap towards world economic science is already in the scientific...

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...

Kondratieff waves are an interesting subject of study and describe present global economic developments. The Global Financial Crisis of 2009 and the present economic situation have parallels with the Great Depression of the 1930s. Twice-in-a-century events are occurring again. On the other hand,...

We report that the price of a 6.5oz Coke was 5¢ from 1886 until 1959. Thus, we are documenting a nominal price rigidity that lasted more than 70 years! The case of Coca-Cola is particularly interesting because during the 70-year period there were substantial changes in the soft drink industry...

The analysis of long economic cycles allows us to understand long-term world-system dynamics, to develop forecasts, to explain crises of the past, as well as the current global economic crisis. The article offers an historical sketch of research on K-waves; it analyzes the nature of Kondratieff...

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The bank as "general store" is slowly being replaced by the bank as conglomerate. This is because improvements in information technology and market efficiency are changing the way the activities of financial intermediaries are performed. The imperatives of cost minimization and competition have...

We develop a business cycle model in which consumption goods, physical capital, and human capital are produced in separate sectors. An important feature of the model is that human and machine inputs in the production process are treated symmetrically: each has both a stock and flow component....

Historically, when an economy emerges from recession, employment grows with, or soon after, the resumption of GDP growth. However, following the two most recent recessions in the United States, employment growth has lagged the recovery in GDP by several quarters, a phenomenon thathas been termed...

A marked acceleration of total factor productivity (TFP) growth in U.S. manufacturing followed World War I. This development contributed substantially to the absolute and relative rise of the domestic economy's aggregate TFP residual, which is observed when the 'growth accounts' for the first...