Details about Max Gillman

Homepage:	https://maxgillman.wpcomstaging.com/
Postal address:	Max Gillman University of Missouri at St Louis 1 University Boulevard 408 SSB St Louis, Missouri 63121
Workplace:	European Research University, (more information at EDIRC) Corvinus Institute for Advanced Studies, Budapesti Corvinus Egyetem (Corvinus University of Budapest), (more information at EDIRC) Department of Economics, University of Missouri-St. Louis, (more information at EDIRC)

Access statistics for papers by Max Gillman.

Last updated 2025-01-08. Update your information in the RePEc Author Service.

Short-id: pgi22

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Jump to Journal Articles Edited books Chapters

Working Papers

2023

1. Identifying money and inflation expectation shocks on real oil prices
   Bank of Finland Research Discussion Papers, Bank of Finland View citations (2)
   See also Journal Article Identifying money and inflation expectation shocks to real oil prices, Energy Economics, Elsevier (2023) View citations (3) (2023)
2. Investigating Cycle Anatomy
   CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (1)

2020

3. Income Tax Evasion: Tax Elasticity, Welfare, and Revenue
   CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (1)
   Also in CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague (2020) View citations (1)
   See also Journal Article Income tax evasion: tax elasticity, welfare, and revenue, International Tax and Public Finance, Springer (2021) View citations (2) (2021)

2019

4. A Human Capital Theory of Structural Transformation
   CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague
5. Granger Predictability of Oil Prices After the Great Recession
   IMF Working Papers, International Monetary Fund
   Also in CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague (2019)
   See also Journal Article Granger predictability of oil prices after the Great Recession, Journal of International Money and Finance, Elsevier (2020) View citations (13) (2020)

2018

6. International Business Cycle and Financial Intermediation
   CEU Working Papers, Department of Economics, Central European University View citations (1)
   Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2018) View citations (1)
   Working Papers, University of Pretoria, Department of Economics (2016) View citations (1)
   See also Journal Article International Business Cycle and Financial Intermediation, Journal of Money, Credit and Banking, Blackwell Publishing (2019) View citations (1) (2019)
7. The Welfare Cost of Inflation with Banking Time
   CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (1)
   Also in CEU Working Papers, Department of Economics, Central European University (2018) View citations (2)
   See also Journal Article The welfare cost of inflation with banking time, The B.E. Journal of Macroeconomics, De Gruyter (2020) View citations (5) (2020)

2017

8. Tuning in RBC Growth Spectra
   EcoMod2017, EcoMod
   Also in 2017 Meeting Papers, Society for Economic Dynamics (2017)
   IMF Working Papers, International Monetary Fund (2016) View citations (1)

2014

9. Learning about Disaster Risk: Joint Implications for Consumption and Asset Prices
   CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague View citations (3)
10. Learning about Rare Disasters: Implications for Consumptions and Asset Prices
    CEU Working Papers, Department of Economics, Central European University View citations (10)
    See also Journal Article Learning about Rare Disasters: Implications For Consumption and Asset Prices, Review of Finance, European Finance Association (2015) View citations (16) (2015)
11. Money, Banking and Interest Rates: Monetary Policy Regimes with Markov-Switching VECM Evidence
    CEU Working Papers, Department of Economics, Central European University View citations (1)

2013

12. Lost in Translation: Unified Consumption Theory, Dynamic AS-AD, and Business Cycles
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies
13. The Tempered Ordered Probit (TOP) Model with an Application to Monetary Policy
    CEI Working Paper Series, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University View citations (4)
    Also in Discussion Paper Series, Department of Economics, Loughborough University (2013) View citations (4)

2012

14. AS-AD in the Standard Dynamic Neoclassical Model: Business Cycles and Growth Trends
    CEU Working Papers, Department of Economics, Central European University View citations (1)
    Also in Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section (2012) View citations (1)
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2012) View citations (1)
15. Deriving the Taylor Principle when the Central Bank Supplies Money
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (4)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2012) View citations (3)
    CEU Working Papers, Department of Economics, Central European University (2012) View citations (4)

2011

16. A Simple Theory of Structural Transformation
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (2)
17. Real Business Cycles with a Human Capital Investment Sector and Endogenous Growth: Persistence, Volatility and Labor Puzzles
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (4)
    Also in Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section (2011) View citations (5)

2010

18. Inflation, Human Capital and Tobin's q
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (5)
    Also in Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section (2009) View citations (1)
    CDMA Conference Paper Series, Centre for Dynamic Macroeconomic Analysis (2009) View citations (3)
    See also Journal Article Inflation, human capital and Tobin's q, Journal of Economic Dynamics and Control, Elsevier (2012) View citations (5) (2012)

2009

19. A Banking Explanation of the US Velocity of Money: 1919-2004
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2009) View citations (2)
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section (2009) View citations (2)
    See also Journal Article A banking explanation of the US velocity of money: 1919-2004, Journal of Economic Dynamics and Control, Elsevier (2010) View citations (31) (2010)
20. Inflation, Investment and Growth: a Money and Banking Approach
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (12)
    See also Journal Article Inflation, Investment and Growth: a Money and Banking Approach, Economica, London School of Economics and Political Science (2011) View citations (21) (2011)
21. Monetary Effects on Nominal Oil Prices
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (22)
    Also in Working Papers, Banco de España (2009) View citations (21)
    See also Journal Article Monetary effects on nominal oil prices, The North American Journal of Economics and Finance, Elsevier (2009) View citations (27) (2009)
22. The Effect of Inflation on Growth - Evidence from a Panel of Transition Countries
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (3)
    Also in Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section (2008) View citations (2)
23. US Volatility Cycles of Output and Inflation, 1919-2004: A Money and Banking Approach to a Puzzle
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    Also in Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section (2008) View citations (5)

2008

24. Baltic Tax Reform
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2008) View citations (10)
    See also Journal Article Flat tax reform: The Baltics 2000-2007, Journal of Macroeconomics, Elsevier (2010) View citations (22) (2010)
25. Inflation, Investment and Growth: a Banking Approach
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (8)
26. Tax Evasion and Growth: a Banking Approach
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (1)
27. The Optimum Quantity of Money with Gold Reserves
    CDMA Conference Paper Series, Centre for Dynamic Macroeconomic Analysis
28. Volatility Cycles of Output and Inflation: A Good Shock, Bad Shock Story
    2008 Meeting Papers, Society for Economic Dynamics View citations (1)

2007

29. An Endogenous Taylor Condition in an Endogenous Growth Monetary Policy Model
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (6)
30. Inflation, Financial Development and Human Capital-Based Endogenous Growth: an Explanation of Ten Empirical Findings
    CDMA Conference Paper Series, Centre for Dynamic Macroeconomic Analysis View citations (2)
31. Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks
    MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary) View citations (3)
    Also in CDMA Conference Paper Series, Centre for Dynamic Macroeconomic Analysis (2006) View citations (6)
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section (2007) View citations (3)
    See also Journal Article Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks, Journal of Money, Credit and Banking, Blackwell Publishing (2008) View citations (31) (2008)
32. The Interaction of Inflation and Financial Development with Endogenous Growth
    Money Macro and Finance (MMF) Research Group Conference 2006, Money Macro and Finance Research Group View citations (5)

2006

33. Accounting for Corruption: Taxes, the Shadow Economy, Endogenous Growth and Inflation
    2006 Meeting Papers, Society for Economic Dynamics View citations (1)
34. Banking in General Equilibrium with an Application to Japan
    CARF F-Series, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo View citations (1)
    Also in CIRJE F-Series, CIRJE, Faculty of Economics, University of Tokyo (2006) View citations (1)
35. Money Demand in General Equilibrium Endogenous Growth: Estimating the Role of a Variable Interest Elasticity
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (9)

2005

36. A Comparison of Exchange Economies within a Monetary Business Cycle
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (3)
    See also Journal Article A COMPARISON OF EXCHANGE ECONOMIES WITHIN A MONETARY BUSINESS CYCLE, Manchester School, University of Manchester (2005) (2005)
37. Credit Shocks in the Financial Deregulatory Era: Not the Usual Suspects
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (54)
    See also Journal Article Credit Shocks in the Financial Deregulatory Era: Not the Usual Suspects, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2005) View citations (53) (2005)
38. Econometric Accounting of the Australian Corporate Tax Rates: a Firm Panel Example
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (3)
39. Granger Causality of the Inflation-Growth Mirror in Accession Countries
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    See also Journal Article Granger causality of the inflation–growth mirror in accession countries, The Economics of Transition, The European Bank for Reconstruction and Development (2004) View citations (24) (2004)
40. Inflation and Balanced-Path Growth with Alternative Payment Mechanisms
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section View citations (38)
    Also in CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies (2004) View citations (14)
    See also Journal Article Inflation and Balanced-Path Growth with Alternative Payment Mechanisms, Economic Journal, Royal Economic Society (2005) View citations (52) (2005)
41. Money Demand in an EU Accession Country: A VECM Study of Croatia
    Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section
    See also Journal Article Money Demand in an EU Accession Country: A VECM Study of Croatia, Bulletin of Economic Research, Wiley Blackwell (2006) View citations (12) (2006)
42. The Benefits of Low Inflation: Financial Development within an Endogenous Growth Economy
    2005 Meeting Papers, Society for Economic Dynamics

2004

43. Credit Shocks in a Monetary Business Cycle
    2004 Meeting Papers, Society for Economic Dynamics View citations (4)
44. Inflation and Endogenous Growth in Underground Economies
    wiiw Balkan Observatory Working Papers, The Vienna Institute for International Economic Studies, wiiw View citations (3)
45. Inflation, Financial Development and Endogenous Growth
    Monash Econometrics and Business Statistics Working Papers, Monash University, Department of Econometrics and Business Statistics View citations (12)
46. Inflation, Financial Development and Growth in Transition Countries
    Monash Econometrics and Business Statistics Working Papers, Monash University, Department of Econometrics and Business Statistics View citations (12)

2003

47. Money Demand in a Banking Time Economy
    Discussion Paper Series, Hamburg Institute of International Economics View citations (6)
    Also in HWWA Discussion Papers, Hamburg Institute of International Economics (HWWA) (2003) View citations (8)

2002

48. Inflation and Growth: Some Theory and Evidence
    10th International Conference on Panel Data, Berlin, July 5-6, 2002, International Conferences on Panel Data View citations (20)

2001

49. Inflation, Growth, and Credit Services
    Development and Comp Systems, University Library of Munich, Germany
    Also in Transition Economics Series, Institute for Advanced Studies (1999) View citations (5)
    CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague (2000) View citations (3)
50. The Negative Inflation-Growth Effect: Theory and Evidence
    Melbourne Institute Working Paper Series, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne View citations (5)

1999

51. Evaluating Government Policy in Transition Countries
    CASE Network Studies and Analyses, CASE-Center for Social and Economic Research
52. On Keynes's Theory of the Aggregate Price Level in the Treatise: Any Help for Modern Aggregate Analysis?
    CASE-CEU Working Papers, CASE-Center for Social and Economic Research View citations (1)

1997

53. A Price-Theoretic Construction of the General Theory
    Working Papers, New South Wales - School of Economics
54. Money Velocity with Costly Credit
    Working Papers, Wilfrid Laurier University, Department of Economics View citations (12)
    Also in Department of Economics - Working Papers Series, The University of Melbourne (1996) View citations (6)

1996

55. Optimality of Exchange Credit Restrictions
    Department of Economics - Working Papers Series, The University of Melbourne View citations (1)
56. Price Stability as Optimal Policy: Costly Nominal Adjustment in General Equilibrium
    Department of Economics - Working Papers Series, The University of Melbourne

Journal Articles

2025

1. Cycles and their important shocks: completing the investigation
   Macroeconomic Dynamics, 2025, 29, -

2024

2. A Human Capital Explanation of Real Business Cycles
   Journal of Human Capital, 2024, 18, (2), 305 - 345

2023

3. Identifying money and inflation expectation shocks to real oil prices
   Energy Economics, 2023, 126, (C) View citations (3)
   See also Working Paper Identifying money and inflation expectation shocks on real oil prices, Bank of Finland Research Discussion Papers (2023) View citations (2) (2023)
4. Supply-side economics with AS-AD in Ramsey dynamic general equilibrium
   Economic Analysis and Policy, 2023, 80, (C), 505-531

2022

5. Gold, silver, and the US dollar as harbingers of financial calm and distress
   The Quarterly Review of Economics and Finance, 2022, 86, (C), 200-210 View citations (2)
6. Lucas’s methodological divide in inflation theory: a student’s journey
   Journal of Economic Methodology, 2022, 29, (1), 30-47

2021

7. Income tax evasion: tax elasticity, welfare, and revenue
   International Tax and Public Finance, 2021, 28, (3), 533-566 View citations (2)
   See also Working Paper Income Tax Evasion: Tax Elasticity, Welfare, and Revenue, CERS-IE WORKING PAPERS (2020) View citations (1) (2020)
8. Macroeconomic Trends among Visegrád Countries, EU Balkans, and the U.S., 1991-2021
   Central European Business Review, 2021, 2021, (2), 1-20 View citations (3)
9. Steps in industrial development through human capital deepening
   Economic Modelling, 2021, 99, (C) View citations (8)

2020

10. Granger predictability of oil prices after the Great Recession
    Journal of International Money and Finance, 2020, 101, (C) View citations (13)
    See also Working Paper Granger Predictability of Oil Prices After the Great Recession, IMF Working Papers (2019) (2019)
11. The welfare cost of inflation with banking time
    The B.E. Journal of Macroeconomics, 2020, 20, (1), 20 View citations (5)
    See also Working Paper The Welfare Cost of Inflation with Banking Time, CERS-IE WORKING PAPERS (2018) View citations (1) (2018)

2019

12. International Business Cycle and Financial Intermediation
    Journal of Money, Credit and Banking, 2019, 51, (8), 2293-2303 View citations (1)
    See also Working Paper International Business Cycle and Financial Intermediation, CEU Working Papers (2018) View citations (1) (2018)

2017

13. Hybrid Exponential†Hyperbolic Discounting and Growth Without Commitment
    Manchester School, 2017, 85, (S2), e45-e74 View citations (3)

2015

14. Early Macro Divergence from Micro: Keynes vs Hayek, Fisher and Friedman
    Journal of Reviews on Global Economics, 2015, 4, 268-280
15. Learning about Rare Disasters: Implications For Consumption and Asset Prices
    Review of Finance, 2015, 19, (3), 1053-1104 View citations (16)
    See also Working Paper Learning about Rare Disasters: Implications for Consumptions and Asset Prices, CEU Working Papers (2014) View citations (10) (2014)

2014

16. Tax Evasion, Human Capital, and Productivity-Induced Tax Rate Reduction
    Journal of Human Capital, 2014, 8, (1), 42 - 79 View citations (11)

2012

17. Inflation, human capital and Tobin's q
    Journal of Economic Dynamics and Control, 2012, 36, (7), 1057-1074 View citations (5)
    See also Working Paper Inflation, Human Capital and Tobin's q, CERS-IE WORKING PAPERS (2010) View citations (5) (2010)

2011

18. Inflation, Investment and Growth: a Money and Banking Approach
    Economica, 2011, 78, (310), 260-282 View citations (21)
    See also Working Paper Inflation, Investment and Growth: a Money and Banking Approach, CERS-IE WORKING PAPERS (2009) View citations (12) (2009)

2010

19. A banking explanation of the US velocity of money: 1919-2004
    Journal of Economic Dynamics and Control, 2010, 34, (4), 765-779 View citations (31)
    See also Working Paper A Banking Explanation of the US Velocity of Money: 1919-2004, CEPR Discussion Papers (2009) View citations (3) (2009)
20. Comment on “Price Stability and the Case for Flexible Exchange Rates”
    Open Economies Review, 2010, 21, (1), 17-21
21. Flat tax reform: The Baltics 2000-2007
    Journal of Macroeconomics, 2010, 32, (2), 692-708 View citations (22)
    See also Working Paper Baltic Tax Reform, Cardiff Economics Working Papers (2008) (2008)
22. The effect of inflation on growth
    The Economics of Transition, 2010, 18, (4), 697-714 View citations (69)

2009

23. INTERNATIONAL DEPOSIT INSURANCE
    Economic Affairs, 2009, 29, (3), 103-104
24. Monetary effects on nominal oil prices
    The North American Journal of Economics and Finance, 2009, 20, (3), 239-254 View citations (27)
    See also Working Paper Monetary Effects on Nominal Oil Prices, Cardiff Economics Working Papers (2009) View citations (22) (2009)

2008

25. Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks
    Journal of Money, Credit and Banking, 2008, 40, (6), 1281-1293 View citations (31)
    Also in Journal of Money, Credit and Banking, 2008, 40, (6), 1281-1293 (2008) View citations (6)
    See also Working Paper Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks, MNB Working Papers (2007) View citations (3) (2007)

2006

26. Money Demand in an EU Accession Country: A VECM Study of Croatia
    Bulletin of Economic Research, 2006, 58, (2), 105-127 View citations (12)
    See also Working Paper Money Demand in an EU Accession Country: A VECM Study of Croatia, Cardiff Economics Working Papers (2005) (2005)

2005

27. A COMPARISON OF EXCHANGE ECONOMIES WITHIN A MONETARY BUSINESS CYCLE
    Manchester School, 2005, 73, (4), 542-562
    See also Working Paper A Comparison of Exchange Economies within a Monetary Business Cycle, Cardiff Economics Working Papers (2005) View citations (3) (2005)
28. Contrasting Models of the Effect of Inflation on Growth
    Journal of Economic Surveys, 2005, 19, (1), 113-136 View citations (71)
29. Credit Shocks in the Financial Deregulatory Era: Not the Usual Suspects
    Review of Economic Dynamics, 2005, 8, (3), 668-687 View citations (53)
    See also Working Paper Credit Shocks in the Financial Deregulatory Era: Not the Usual Suspects, Cardiff Economics Working Papers (2005) View citations (54) (2005)
30. Inflation and Balanced-Path Growth with Alternative Payment Mechanisms
    Economic Journal, 2005, 115, (500), 247-270 View citations (52)
    See also Working Paper Inflation and Balanced-Path Growth with Alternative Payment Mechanisms, Cardiff Economics Working Papers (2005) View citations (38) (2005)
31. Ramsey-Friedman Optimality with Banking Time
    The B.E. Journal of Macroeconomics, 2005, 5, (1), 24 View citations (8)

2004

32. Granger causality of the inflation–growth mirror in accession countries
    The Economics of Transition, 2004, 12, (4), 653-681 View citations (24)
    See also Working Paper Granger Causality of the Inflation-Growth Mirror in Accession Countries, CEPR Discussion Papers (2005) View citations (5) (2005)
33. Inflation and growth: Explaining a negative effect
    Empirical Economics, 2004, 29, (1), 149-167 View citations (77)
34. The Demand for Bank Reserves and Other Monetary Aggregates
    Economic Inquiry, 2004, 42, (3), 518-533 View citations (27)

2002

35. Keynes's Treatise: aggregate price theory for modern analysis?
    The European Journal of the History of Economic Thought, 2002, 9, (3), 430-451 View citations (4)

2000

36. On the Optimality of Restricting Credit: Inflation Avoidance and Productivity
    The Japanese Economic Review, 2000, 51, (3), 375-390 View citations (6)

1999

37. Extending corporate liability in New Zealand
    International Journal of Social Economics, 1999, 26, (4), 487-500
38. The problem of social cost: the role of the state
    International Journal of Social Economics, 1999, 26, (5), 590-596 View citations (2)

1998

39. The Optimality of a Zero Inflation Rate with Menu Costs: Australia
    Australian Economic Review, 1998, 31, (3), 211-223

1995

40. COMPARING PARTIAL AND GENERAL EQUILIBRIUM ESTIMATES OF THE WELFARE COST OF INFLATION
    Contemporary Economic Policy, 1995, 13, (4), 60-71 View citations (19)
41. The development of the corporation in England, with emphasis on limited liability
    International Journal of Social Economics, 1995, 22, (4), 20-32

1993

42. The welfare cost of inflation in a cash-in-advance economy with costly credit
    Journal of Monetary Economics, 1993, 31, (1), 97-115 View citations (83)

Edited books

2013

1. Collected Papers on Monetary Theory
   Economics Books, Harvard University Press View citations (4)

Chapters

2022

1. Emerging regions in the era of negative real interest rates: twenty years of convergence towards the US?
   Chapter 37 in Handbook of Banking and Finance in Emerging Markets, 2022, pp 687-709

1998

2. A Macroeconomic Analysis of Economies inTransition
   Chapter 15 in Handbook on the Globalization of the World Economy, 1998