‘thesource base consists of total currency outstanding (held by the public and in the vaults of depository institutions) plus the reserve balances of depository institutions at Federal Reserve Banks. The level of the money stock (currency in the hands of the public plus checkable deposits) that can be supported with a given level of the source base depends on resen’e requirements. If required r...

Jaime Vargas for their thoughtful comments on an earlier version of this paper. The opinions expressed herein are those of the authors and do not necessarily reflect the official position of the Inter-American Development Bank. Foreword This paper is important because it seeks to enlighten a complex and often polemical debate about public and private education. It argues that the distinction be...

This contribution aims at using an Austrian approach of institutions to discuss specific institutional arrangements in the current working of science-industry relationships. By combining distinctive characteristics between Menger’s and Hayek’s research programs, we establish a typology of institutions that goes beyond the usual way to approach business institutions and allows us to identify tra...

In the last fifteen years or so, courts have issued a small but significant number of decrees requiring that governmental bodies reorganize themselves so that their behavior will comport with certain legal standards. Such decrees, addressed to school systems, prison and mental hospital officials, welfare administrators, and public housing authorities, insert trial courts in the ongoing business...

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This commentary is dedicated to the memory of Peter J. Batten, MD. He was a public health physician, a psychiatrist, and a medical examiner who spent his entire career in Salem, the capital of the State of Oregon. Salem was a unique place to work because, early in the history of Oregon, the state elected to build all of its original public institutions in the environs of the city. As the county...

at a North American transplant center Paul Sue, MDCM, FAAP; Nora Pisanic, PhD; Christopher Heaney, MS, PhD; Kenrad Nelson, MD; Kathleen Schwarz, MD; Annette Jackson, PhD; Robert Montgomery, MD; John Ticehurst, MD; Michael Forman, PhD; Alexandra Valsamakis, MD, PhD; Wikrom Karnsakul, MD; Pediatric Infectious Diseases, Johns Hopkins University School of Medicine, Baltimore, MD; Epidemiology and E...

The paper examines the relationship between supplier network organization and regional economic development. A distinctive feature of the German economy is the existence of a large and productive base of small and medium companies, commonly called the Mittelstand. Chambers of Commerce, trade associations, local research institutes and other para-public institutions provide a public infrastructu...

Is there a widespread loss of faith in the core institutions of representative democracy? Based on a comparison of 17 trilateral democracies this study examines institutional confidence from the early 1980s to the early 1990s then considers explanations based on the social psychology of trusting personalities, cultural accounts based on life experiences, and theories of institutional performanc...