The rise in inflation since mid-2021 to multi-decade highs presents a worrying trend for households’ financial health, particularly if nominal incomes, or non-inflation adjusted income, of financially vulnerable families lag behind prices. Policymakers have noted that lower income households...

Chapter 1: Introduction -- Chapter 2: Existing Literature: A Brief Tour -- Chapter 3: What is Money? -- Chapter 4: The Origin of Money as the Ability to Obtain Goods and Services -- Chapter 5: Money as the Ability Vis-à-Vis Other Concepts -- Chapter 6: Money as the Ability and Some Related...

Lucas and Stokey (1983) motivated future governments to confirm an optimal tax plan by rescheduling government debt appropriately. Debortoli et al. (2021) showed that sometimes that does not work. We show how a Ramsey plan can always be implemented by adding instantaneous debt to Lucas and...

There is an ongoing conflict between software copyright owners and a vast majority of users who are continually finding ways to use the software without paying. The paper investigates the attitudes of the users towards application of licensed or unlicensed software. Through in-debt analysis of...

Fiat money requires no backing to be accepted at a uniquely determined positive value. I show this using an equilibrium model with realistic frictions and rational households allowed to freely interact in a competitive environment. The model portrays a modern 'cashless' economy relying on...

How much do consumption patterns matter for the impact of international trade on inequality? In neoclassical trade models, the effects of trade shocks on consumers' purchasing power are governed by the shares of imports in consumer expenditures, under no parametric assumptions on preferences and...

There is an ongoing conflict between software copyright owners and a vast majority of users who are continually finding ways to use the software without paying. The paper investigates the attitudes of the users towards application of licensed or unlicensed software. Through in-debt analysis of...

Chapter 1. Introduction -- Chapter 2. Propaganda Versus Economics: Constructing a Myth -- Chapter 3. Buying Power Not Protest: The Myth Prevents Unrest -- Chapter 4.The Myth’s “BIG THREE” Modern Purveyors: Reviewing Selig, Nielsen, McKinsey & Co -- Chapter 5. The Myth at. Play: A Most...

Farmland valuation models usually incorporate local purchasing power as one of the pricing factors. A plausible rationale is that a larger population and higher income per capita imply increasing demand for agricultural products and farmland. In this paper, we study the relationship between the...

Farmland valuation models usually incorporate local purchasing power as one of the pricing factors. A plausible rationale is that a larger population and higher income per capita imply increasing demand for agricultural products and farmland. In this paper, we study the relationship between the...

The paper makes an analysis of socio-economic factors that influence food consumption levels in terms of income evolution at regional level and also a comparison with EU average and several regions from Poland; it also presents the dispersion of regional GDP per inhabitant and its influence on...

In this paper, we argue that past computations of the equity risk premium did not properly account for the financial implications of political collapse on property, civil and human rights. Accordingly, we argue past calculations overstated the equity risk premium. In their stead, we argue a...

Die Kaufkraft der Lohnminute hat sich gegenüber 1960 mehr als verdreifacht. Dies bedeutet, dass ein Warenkorb, für den man damals noch eine Stunde arbeiten musste, heute bereits in 19 Minuten verdient ist. Ein wichtiger Treiber dieses Kaufkraftgewinns ist der technische Fortschritt, der...

The ageing process of populations due to demographic change affects the economy in various ways. The study at hand focuses on the reallocation of income and changes in consumption expenses caused by demographic change. Local disparities on NUTS 3 level are of special interest as the demographic...

Nicht alle Regionen sind in Deutschland gleichermaßen von Einkommensarmut betroffen. Um die besonders armutsgefährdeten Gebiete zu identifizieren, ist es wichtig, regionale Preisunterschiede zu berücksichtigen. Mit dem Maßstab der so ermittelten Kaufkraftarmut bewertet, treten die größeren...

The extremely low long-term interest rates in capital markets, to a relevant extent induced by quantitative easing, imply significant challenges for retirement saving and the stability of households’ purchasing power over the long-term. The reason is that prices for the two most important...

This paper looks at reform proposals for the fiscal transfer system in Germany to take account of differences in governmental purchasing powers across states, i.e. differences in governmental costs of public goods and services. Since data on differences in governmental purchasing power is...

The extremely low long-term interest rates in capital markets, to a relevant extent induced by quantitative easing, imply significant challenges for retirement saving and the stability of households' purchasing power over the long-term. The reason is that prices for the two most important...