The paper explores the empirical macro- and microeconomic aspects of debt deflation. After performing VAR and Granger causality analysis on the quarterly 1980-2011 filtered macroeconomic data for the USA, we find evidence for the endogenous money supply theory. Highlighting the empirical...

In this paper, we consider whether or not inequality forces society to expend more resources on supervision which imposes an extra cost to doing business. Some argue that since inequality deteriorates social capital, there is a greater need for supervisory labor which is a costly burden to bear....

We assess the effects of changes in household size on the long-run evolution of living standards and on cross-country convergence. When the observed changes in average household size across countries are taken into consideration, growth in living standards is slower throughout the 20th century...