Buddhism points out that emphasizing individuality and promoting the greatest fulfillment of the desires of the individual conjointly lead to destruction. The book promotes the basic value-choices of Buddhism, namely happiness, peace and permanence.

This paper examines sources of economic growth in East Asia. The conventional growth-accounting approach to estimating the sources of economic growth requires unrealistically strong assumptions about either competitiveness of factor markets or the form of the underlying aggregate production...

This paper examines market liberalization policies in a reforming socialist economy. The aim of this paper is to develop a model of such a reforming socialist economy and to explore the consequences of market-oriented policies in the context of such an economy. A model of a socialist economy is...

The relationship between the degree of wage indexation chosen by private agents and the degree of public debt indexation chosen by the government is examined. It is shown that the government is likely to increase public debt indexation in response to an increase in wage indexation. By contrast,...

This paper analyzes the issue of purchasing power parity using real effective exchange rate (REER) data for 20 industrial countries in the post-Bretton Woods period. The serial correlation-robust median-unbiased estimator yields a cross-country average of half-lives of deviations from parity of...