We investigate which variables have supported growth in the euro area over last 30 years. This is a challenging task due to dimensionality problems: large set of potential determinants, limited data, and prospect that some could be non-stationary. assemble 35 real, financial, monetary, institutional for nine original countries covering period between 1990Q1 2016Q4. Using Weighted-Average Least ...

To determine the tolerability and efficacy of eletriptan in patients who had discontinued oral sumatriptan due to lack of efficacy or intolerable adverse events (AEs) during previous clinical treatment (not a controlled trial). Eletriptan is a potent, selective 5-HT1B/1D receptor agonist with beneficial pharmacokinetic properties compared with sumatriptan. In a double-blind, parallel group, pla...

The essay starts positioning Simmel as a bridge between the money value theories of Menger and Mises, claiming that his contribution is important in its own right; notably, idea evolves towards more abstract forms society becomes complex. It states this trend exists course has not yet been completed. After that, Menger, Mises are succinctly described, with emphasis on contributions to Mises’ th...

In this paper, we analyze the effects of money on the market for durable goods both empirically and theoretically. Using monthly US data on personal expenditures on durable goods and the housing market, we estimate from a VAR the dynamic responses of the price and quantity of durable goods and housing to money supply shocks, assuming only that money is neutral in the long-run. We then estimate ...

A game theoretic approach to the theory of money and financial institution is given utilizing both the strategic and coalitional forms for describing the economy. The economy is first modeled as a strategic market game, then the strategic form is used to calculate several cooperative forms that differ from each other in their utilization of money and credit and their treatment of threats. It is...

In a New Monetarist framework, we study the trade of indivisible goods under credit, divisible money and divisible asset in a frictional market. We show how indivisibility on the goods side, instead of the money or asset side, matters for equilibria. The bargaining solution generates a price that is independent of nominal interest rate, dividend value of the asset, or the number of active buyer...

Emerging economies are often exposed to sudden shortages of international financial resources. Yet domestic agents do not seem to take preventive measures against these sudden stops. We highlight the central role played by the limited development of ex ante (insurance) and ex post (spot) domestic financial markets in generating this collective undervaluation of international resources. We study...