Over 100 years since Marx's value theory of labour was first published, the so-called ``transformation problem'' -- deriving prices from values and providing a theory of profits as arising from surplus value -- has inspired the imagination of economists of all shades of intellectual suasion....

Regional scientists have developed numerous concepts and measures of economic diversity and diversification, primarily motivated by the desire to establish a relationship between diversity and economic performance. Rather than striving for a unified theory with a singular measure, this paper...

This paper assesses the effect of Richard Florida's creative class on economic growth and development at two levels of spatial aggregation. First, I examine the dynamics of economic growth across US metropolitan regions and investigate how they relate to regional specialization and the...

The fundamental connection between the spatial development of cities and financial markets is a topic that has received little attention from either urbanists or economists. In this short piece, I argue that part of the post-crisis recovery is predicated on a multi-faceted understanding of the...

This paper assesses the effect of Richard Florida's creative class on economic growth and development at two levels of spatial aggregation. First, I examine the dynamics of economic growth across US metropolitan regions and investigate how they relate to regional specialization and the...

Since the Plaza Meeting in September 1985, G-10 central banks have intervened in foreign exchange markets in a manner and scale unprecedented in the post Bretton Woods era. Using official daily data on interventions by the Swiss National Bank, this paper evaluates the effectiveness of these...

The fundamental connection between the spatial development of cities and financial markets is a topic that has received little attention from either urbanists or economists. In this short piece, I argue that part of the post-crisis recovery is predicated on a multi-faceted understanding of the...

The post-Bretton Woods era has witnessed the integration of the global financial system at an unprecedented pace. However, much of its institutional governance structure remains hinged on the old paradigm of national economies. Despite highly globalized financial markets, I find evidence of...

The Basel Process is a key element of the global financial system and a critical force that has been shaping the international financial architecture over the last 80 years. As such it plays an important role in co-ordinating the multilateral efforts of central banks, regulators, supervisors and...