We analyze a financial collapse, such as the one which occurred during the Great Depression, from the perspective of a monetary model with multiple equilibria. The economy we consider contains financial fragility due to increasing returns to scale in the intermediation process. Intermediaries...

This paper presents a comparative study of the New Product Development (NPD) environment and practices between American and British firms. Our analysis is based on an in-depth survey of 63 British and 37 American firms. The selected firms represent key industrial sectors of computer,...

This paper is concerned with e-mall business models. The investigation defines what constitutes an e-mall, the different types of implementations, and surveys a number of established e-malls. The study looks at e-malls through the eyes of a buyer and seller and describes the different types of...

This paper studies the inflationary implications of interest bearing regional debt in a monetary union. Is this debt simply backed by future taxation with no inflationary consequences? Or will the circulation of region debt induce monetization by a central bank? We argue here that both outcomes...