This essay is a contribution to the empirical literature on the effect of inflation tax on capital structure. A simple empirical model considering the main results of the current theoretical development is studied, using microdata from a number of American corporations.

We develop a theoretical framework where the chance of any given democratic society maintaining its democratic status is determined by two key factors: economic security and democratic capital. Our model predicts democracy breakdown is more likely (1) the lower the level of democratic capital,...

The recent global recession has pushed businesses to search for means to efficiently and effectively manage their customers so as to remain competitive. This has led to the rise in the adoption and use of information technology in different business functions. These developments have yielded...

This paper proposes a theoretical monetary model to inquire as to whether the growth and decline in barter transactions between firms in Russia during the 1990s was the result of credit rationing or firms' optimal decision. The model also provides an explanation for the negative correlations...