The stability of factor shares has long been considered one of the “stylized facts” of macroeconomics. However, the relationship between cross-country factor shares and economic development is dependent on how factor shares are measured. Most factor share studies acknowledge only two factors...

The European economic integration has been an ongoing process for nearly a half century. This article discuss initially the concept of integration and then gives an overall assessment of the development of integration on various areas. Evidence points to a remarkable process towards monetary...

Despite still being younger than a decade, the theory of multisided market has offered numerous valuable insights for the analysis of industries in which a supplier serves two distinct customer groups that are indirectly interrelated by externalities. Examples include payment systems, matching...