Zak & Knack (2001) demonstrate that interpersonal trust substantially impacts economic growth, and that sufficient interpersonal trust is necessary for economic development. To investigate the ability of policy-makers to affect trust levels, this paper builds a formal model characterizing public...

This fascinating book, a dialogue by leading economists, offers an extensive review of the impact of the introduction of the euro on the international monetary system.

The ideal firm has been studied over several centuries, yet little is known about what makes one successful and another fail. This pioneering book brings together leading researchers investigating the concept of the firm from a neuroscientific perspective.

This fascinating book, a dialogue by leading economists, offers an extensive review of the impact of the introduction of the euro on the international monetary system.

This essay uses a political economy model to study the relationship between urbanisation and demographic change in China. The model identifies political stability and government capacity as two crucial factors that shape family decisions regarding the number of children. As population growth and...

A formal dynamic theory of the transition from a developing autocracy to democracy is presented in the context of a heterogeneous agent general equilibrium growth model. The theory shows that the primary determinants affecting the timing of democratic transitions are per capita income, the...

The transition to market-oriented economies in Central and Eastern Europe and the former Soviet Union in the 1990s, like the Great Depression in the U.S. and Germany in the 1930s, generated sharp declines in real incomes and a corresponding drop in fertility. This is contrary to the robust...

Prices respond to equate supply and demand. However, price-setting in low-volume or "thin" markets is a challenge as is determining which items to carry. We present an algorithm that takes into account a store's fixed costs, the cost of goods sold, prices, and listing duration to determine the...