to the marginal costs of intermediation. Two popular demand functions for money are assumed: the double log and the semi … employment real interest rate. Only an unusual increase in the interest elasticity of the demand for money sufficient to offset …

money and finance should not matter much, the alternative tradition-from Veblen and Keynes to Galbraith and Minsky …-provides the basis for developing an approach that puts money and finance front and center. Including the theory of social costs …

We study competition in the German interurban bus industry two years after its liberalization in January 2013. In … of market power by incumbents – and derive several recommendations to secure effective competition in the industry. …

of regulation on R&D investment. Nearing competition has a dampening effect on R&D spending, but once the market and … regulatory framework conditions have been established, higher levels of competition positively influence R&D. Our results further … indicate that the relation between competition and innovative investment can be described as inverted U-shaped. Finally, we …