This paper is a reply to Barry Ickes' critique of my paper “Trust versus Illusion: What is Driving Demonetization in Russia?” in which I show that the data reject Barry Ickes' Virtual Economy explanation of barter in Russia in favor of an institutional explanation based on the lack of trust. JEL Classification: D20, G30, O10, P30

Information and communications technology has fostered the rise of the sharing economy, enabling individuals to share excess capacity. In this paper, we focus on Airbnb.com, which is among the most prominent examples of the sharing economy. We take the perspective of an accommodation provider and investigate the concept of trust, which facilitates complete strangers to form temporal C2C relatio...

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Firstly, by surveying recent research, this paper confirms that both the production and use of ICT have been the factors behind the improved economic performance of the United States in the 1990s. However, the evidence for the New Economy is much weaker outside the United States. Secondly, the paper applies growth accounting to estimate the impacts in Finland. It is shown that the contribution ...

Article history: Received 26 June 2007 Received in revised form 28 December 2007 Accepted 26 February 2008 Available online 18 April 2008 Increasing criticism of resource-extractive and polluting heavy duty industries in urban areas, as well as continuing declines in timbering, farming and mining in rural areas, have created challenges for planners and policy makers seeking sustainable rural ec...

This paper develops an endogenous growth model of a dual economy where human capital accumulation is the source of economic growth. The dualism between the rich individuals and the poor individuals exists in the mechanism of human capital accumulation. Rich individuals allocate labour time not only for their own production and knowledge accumulation but also to train the poor individuals. Stead...