A tanulmány célja az új osztrák iskola megalapítói, Mises, Hayek és mai vezéralakja Kirzner tanításainak világos, könnyen érthető rendszerezett kifejtése. Az új osztrák közgazdák figyelme a neoklasszikus közgazdáktól eltérően nem az egyensúlyi ár meghatározására...

This chapter discusses different approaches pursued to explore three broad questions related to technology diffusion: what general patterns characterize the diffusion of technologies, and how have they changed over time; what are the key drivers of technology, and what are the macroeconomic...

Heightened counterparty risk during the recent financial crisis has raised questions about the role clearinghouses play in global financial stability. Empirical identification of the effect of centralized clearing on counterparty risk is challenging because of the co-incidence of macro-economic...

The purpose of this paper is to introduce the concept of power density [Watts/m²] into economics. By introducing an explicit spatial structure into a simple general equilibrium model we are able to show how the power density of available energy resources determines the extent of energy...

Documentary evidence of the emergence and the eventual complete dominance of the Chinese mercantile traders (Sangleys) during the Spanish colonial period in the Philippines is first presented. We identify the critical traits in the Sangley mercantile genome and the new contractual and...

We document that the global scope and depth of the crisis the began 2007 is unprecedented in the post World War II era and, as such, the most relevant comparison benchmark is the Great Depression of the 1930s. Some of the similarities are examined but the analysis of the aftermath of severe...

In the sixteenth and seventeenth centuries, inter-continental trade brought with it a novel form of organizing business: the multinational firm. Headquartered in Europe and operating in Asia, the success of the East India Companies depended largely on the management of overseas outposts, as well...

This paper investigates the relationship between the exchange rate pass-through (ERPT) and inflation by estimating a nonlinear time series model. Based on a simple theoretical model of ERPT determination, we show that the dynamics of ERPT can be well approximated by a class of smooth transition...

Based on a case study of Saudi Arabia's WTO accession, the article offers a critique of conventional factor- and sector-based models of trade policy, proposing instead a two-level institutional account that is likely to be relevant for non-democratic states in general. Historically grown...

This paper offers a detailed comparative study of Norwegian and UK aid architectures, with a view to informing discussions on reform and renewal within Canada’s development programme. This is undertaken via a quantitative assessment of each country’s standing on accepted measures of donor...