This paper presents evidence that the spread between the marginal product of capital and the return on financial assets is mich higher in poor than in rich countries. A model with costly intermediation is developed. In this economy, individuals choose at each instant whether to work or to...

The rapid growth in digital design and manufacturing processes brings with it some work-flow challenges. While the various existing products provide an ideal solution to most of the steps in the process, more dedicated and integrated systems are sometimes required; raising the question of how best...