This essay attempts to build a simple theoretical model of optimization to decipher the effect of digitalization of a part of the entire production structure which we call here trading or transaction or marketing. In the basic model we use traditional Cobb - Douglas production function to argue...

Two electricity market crises following the lifting of post-Covid restrictions in 2021 and the natural gas supply interruptions in 2022, challenged the functioning of the EU electricity market and its design. This paper argues that the market design was already ripe for an overhaul as the...

We explore adoption of mass customization (MC) -- in place of mass production (MP) -- in a profit-driven competitive environment as a solution to the serious problem of overproduction (and all the environmental waste that it generates) endemic in the fashion industry. Building on a demand model...

The incidence and intensity of violent conflict in Nigeria have been rising steadily since 2016. However, the states across the country are not equally affected. Moreover, the nature of the conflicts and the conditions under which they occur vary across Nigeria’s states. Relying on novel...

We study the long-term effects of the Cultural Revolution, characterised by widespread violence, summary executions and chaos, on a set of trust outcomes among people surveyed by the China Survey in 2008. We find that the revolution, identified by cohort-specific exposure to excess deaths at the...

Different concepts of inequality lead to different positions in discussions about whether economic growth leads to increasing inequality. This study investigates how over 1,100 young adults in Mozambique perceive inequality and whether their perceptions are based on relative or absolute terms....

Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By increasing prices in domestic currency that are linked to foreign prices, they increase the profit share in some sectors and reduce real wages, in particular of workers whose...

We study the long-term effects of the Cultural Revolution, characterised by widespread violence, summary executions and chaos, on a set of trust outcomes among people surveyed by the China Survey in 2008. We find that the revolution, identified by cohort-specific exposure to excess deaths at the...

The income tax taxes the proceeds from market work, but not the proceeds from time otherwise allocated - whether enjoyed as self-provided goods and services or leisure time per se. A two-earner couple that out-sources household and child care services, for instance, pays for these services with...

This paper investigates the impact of tax simplification on various indicators of the efficiency of the tax system and on the distribution of income. The analysis is based on a simulation model (FiFoSiM) using German income tax and household survey microdata. We model tax simplification as the...