What are the implications of digitalization for prices? This paper explores this question by looking at the various channels through which digitalization can affect prices. First, we assess the importance of the direct channel - the prices of digital goods and services in the consumer price...

Global external imbalances widened persistently over the last several years and have narrowed abruptly over the course of the financial crisis. Understanding the extent to which structural or cyclical factors may have driven these patterns is important to assess the likely evolution of global...

The full integration of the textile industry into GATT, which with some exceptions occurred on January 1, 2005, is likely to greatly impact the global textile and apparel industries. In particular,one prediction is that the South African industries are likely to be "decimated." The actual effect...

With the help of the simulated process, it could be realized all kind of experiments on a model. It could be tested lots of ideas, a returning in time to make possible remaking of manipulation scripts of some key variables with the purpose of observation based on experiments the effect above...

Contrary to popular perceptions, the United States has a much smaller small-business sector (as a share of total employment) than other countries at a comparable level of economic development, according to this new CEPR report. The authors observe that the undersized U.S. small business sector...

For an intermediated central bank digital currency (CBDC) to be successful, central banks will need to develop sustainable economic models where intermediaries and end users derive value and central banks achieve their policy goals. This note presents a framework for analyzing different economic...

For an intermediated central bank digital currency (CBDC) to be successful, central banks will need to develop sustainable economic models where intermediaries and end users derive value and central banks achieve their policy goals. This note presents a framework for analyzing different economic...

Previous research has shown that military units operating in the context of risky missions display the characteristics of a Learning Organization. The present work provides preliminary exploratory evidence about the association between Learning Organization characteristics and leadership styles...

What makes e-money more special than cash? Is the introduction of e-money necessarily welfare enhancing? Is an e-money system necessarily stable? What is the optimal way to design an efficient and stable e-money scheme? This paper provides a first attempt to develop a micro-founded, dynamic,...

The past decades have shown a remarkable growth in entrepreneurship among migrants. Recent studies on ethnic entrepreneurship have pointed at an increasing share of migrants in urban small- and medium-sized entrepreneurial businesses. These migrant activities are crucial to the urban economy in...