The global financial crisis that started in 2007 exposed the failure of governments and legislative bodies to regulate the banking industry adequately at a national and global level. Post-crisis reforms and structural changes have ensued: the switch from the G7 to the G20 for example and an...

This article emphasises that a key to understanding the (net) benefits of the Internet is to remember that all online activity has an offline context. People live their lives offline. Therefore, the fall in communication costs and the fall in distribution costs associated with the diffusion of...

This article reviews research on the taxation of electronic commerce, with a focus on sales taxes in the USA (where retailers are not always obligated to collect sales taxes for online sales). The literature has found evidence that sales taxes have large effects on buying behaviour online, which...

The term health econometrics has been adopted to describe the development and application of econometric methods within health economics. This article outlines the distinctive issues that arise in applying econometrics to health data and how these applications have helped to shape the broader...

In 2011 the Euro faced its toughest challenge since its introduction as several of the participating Member States faced unprecedented financial problems. Greece was the most severe case requiring intervention from the EU and IMF to stabilize its economy and repay debt obligations. This article...

This article discusses the main economic contributions of Paul Krugman. Krugman developed the new trade theory, which analyses the determinants of international trade when trade takes place among oligopolistic firms, and the new economic geography, which studies where firms locate nationally and...

This account of turnpike theorems concentrates on the discrete time model, descended from the early von Neumann growth model and the Dosso model. It portrays the current state of the theory under the following five headings: (i) a turnpike in the von Neumann model, (ii) a turnpike in the Ramsey...

Roth is the major force in creating a vibrant field of matching theory and its application to market design. In doing so, he has discovered many properties of the stable matching problem (especially from the strategic viewpoint of game theory), studied real-life cases to test the relevance of...

Valuing health outcomes is a fundamental concern in health economics. This article considers a measure of health outcomes: the Quality Adjusted Life Year (QALY). The QALY has been used extensively for two main reasons: (1) it arguably values health outcomes in a more acceptable metric than money...

Problematic personal debts and associated outcomes, such as bankruptcy and foreclosure, lead to significant declines in psychological health. This article summarises the recent literature and discusses the key issues in measurement and causality. Medical studies show that problem debts are...