The sharing economy will blur the distinctions between renting and owning a wide variety of durable products. The first great entrepreneurial (Neolithic) revolution transformed hunter-gatherers into fixed agriculturalists. The second (Industrial) revolution dramatically reduced the costs of owning products. The third (Transactions Costs) revolution will reduce the costs of exchange, fostering a...

middle east countries have begun to implement economic reforms to stimulate private investment, promote economic growth and support the transition to market economy. although, it is difficult to define the direct impact of the accounting system reform on economic transformation, as there are many other conditions that have influence on the transition process. however, with the central position ...

F rom the viewpoint of economic theories, total factor productivity (TFP) is the most important component that leads to economic growth and development. The main purpose of this study was to evaluate the impact of knowledge-based economy on total factor productivity in the member countries of the Middle East and North Africa (MENA) region. For this purpose, the panel data regression analysis ha...

We consider the release of information by a firm when the manager has discretion regarding the timing of its release. While it is well known that firms appear to delay the release of bad news, we examine how external information about the state of the economy (or the industry) affects this decision. We develop a dynamic model of strategic disclosure in which a firm may privately receive informa...

As a policymaker, the central bank both observes and shapes the economy. The central bank scrutinizes market activity to assess the state of the economy, and its policy strongly shapes market outcomes. When transparency allows the central bank to shape the economy more effectively, it may also cause the informational role of the economic aggregate to deteriorate. This paper presents a simple mo...

This paper is a reply to Barry Ickes' critique of my paper “Trust versus Illusion: What is Driving Demonetization in Russia?” in which I show that the data reject Barry Ickes' Virtual Economy explanation of barter in Russia in favor of an institutional explanation based on the lack of trust. JEL Classification: D20, G30, O10, P30

In this paper we are concerned with the implications of information and communications technologies (ICTs), and the so-called “new economy” with which they are associated, for regional development. As such, we are concerned particularly with examining the ways in which ICTs may “change the balance” between centralising and decentralising dynamics in the space-economy. A number of starkly differ...