We develop a random-matching model to study the price dynamics of monies produced privately according time-consuming mining technology. For our leading example, there exists unique equilibrium where value money increases over time and reaches steady state. There is also continuum perfect-foresight equilibria inflates bursts gradually time. Initially, held for speculative motive, but it acquires...

The rise of Western Europe after 1500 is due largely to growth in countries with access to the Atlantic Ocean and with substantial trade with the New World, Africa, and Asia via the Atlantic. This trade and the associated colonialism affected Europe not only directly, but also indirectly by inducing institutional change. Where “initial” political institutions (those established before 1500) pla...

This paper describes the chaotic monetary environment of medieval and early modern Europe. The poor quality of the coinage was a result both of problems with the supply of bullion and with deficiencies of monetary policy. The paper examines the supply and demand of bullion and the determinants of bullion flows. It then discusses the economics and politics of debasement. It concludes with a desc...

The long-time asymptotics is analyzed for finite energy solutions of the 1D discrete Schrödinger equation coupled to a nonlinear oscillator. The coupled system is invariant with respect to the phase rotation group U(1). For initial states close to a solitary wave, the solution converges to a sum of another solitary wave and dispersive wave which is a solution to the free Schrödinger equation. T...

Human vision can be used as a model for computer vision. We have conducted an experiment to investigate several properties of human vision that can be applied to, and that can improve computer vision. This report describes in detail the description of videos done by human subjects. Human descriptions of videos show the importance of higher levels of abstraction and that features of an object re...

Economic growth in pre-industrial Europe was driven by the expansion of the market. The ‘market’ was a complex commercial structure made up of merchant firms, merchant associations, and organized markets. This paper provides an overview of the pre-industrial commercial structure, of how it functioned, and of how it evolved. JEL Categories: N13, D23, L14, L81, O12 *This paper is a draft chapter ...

Introduction: To prevent postoperative neurological deterioration, spinal cord monitoring during operations is very important. However, problems remain regarding the application of evoked spinal cord potentials (ESCP) in clinical practice to estimate cervical cord dysfunction due to the ambiguity of the evaluation methods. This study addresses the analysis of ESCP and the establishment of a pra...

This paper provides a time-series analysis of recent annual estimates of real GDP and industrial output covering 1270 to 1913. We show that growth can be regarded as a segmented trend stationary process. On this basis, we find that trend growth of real GDP per person was zero prior to the 1660s but then experienced two significant accelerations, preand post-industrial revolution. We also find t...

In this paper we analyse some notions of amoeba for tree forcings. In particular we introduce an amoeba-Silver and prove that it satisfies quasi pure decision but not pure decision. Further we define an amoeba-Sacks and prove that it satisfies the Laver property. We also show some application to regularity properties. We finally present a generalized version of amoeba and discuss some interesti...