This paper contributes to the literature of the stationarity of financial time series and the literature on oil and macroeconomics in several ways. First, it uses Kejriwal and Perron (2010) sequential procedure to endogenously determine multiple structural changes in real oil prices without...

This paper develops a model to investigate the welfare implications of barter in Russia and other transition economies during the 1990s. We argue that barter is a welfare-improving phenomenon that acts as a defence mechanism against monetary instability. When firms react to tighter credit...

The reciprocity objection is one of the most widespread criticisms against Basic Income (BI). In this article I challenge the consistency between the reciprocity principle and the preferred policy options of left reciprocity theorists. I argue that any consistent policy design for a reciprocity...