FINANCIAL INTERMEDIARY IN MONETARY ECONOMICS: AN EXCERPT

This is a short literature overview. (1) The literature demonstrates no coherent view on the nature of economic exchange and, in particular, provides no conventionally accepted, fully satisfactory explanation of the real effects of money. Recent developments in macroeconomics suggest a role for financial intermediaries. (2) The economics literature, however, has very little to say about that though the role of intermediaries in economic history has always been emphasised. (3) Further reading suggests that intermediation is largely missing from economics for methodological reasons. Revival of interest in this topic became evident in recent years thanks to developments in the treatment of asymmetric information, thin markets, and dynamics with innovations. (4) Today's literature, however, still primarily addresses empirical and specific issues like particular functions of intermediaries. Analysis of intermediation in the context of general equilibrium, explanation of its role in the monetary transmission and non-neutrality have not been seriously undertaken. Only a few authors so far have put forward their proposals for this perspective.monetary theory, financial intermediary, asymmetric information, microfoundations

New Institutions and Economic Liberalisation

We discuss how the organization of society, the complexity of the economy, and its level of technological development influence the relationship between the institutions of democracy and economic growth; why the foundation of democracy and market institutions at the same time, in a society without a relevant historical background, remains problematical; and whether enforcement of the institutions of democracy is helpful for stabilization and further sustainability of growth.institutions democracy liberalisation macroeconomic policy

Numerical computation of the main gas-dynamic bearing static characteristics for the ball gyroscope

The numerical computation questions and analysis of the engineering calculation of the main gas-dynamic bearing static characteristics for the ball gyroscope experimental model are considered. The developed gyroscopic device construction is provided. These investigations for evaluation of the possibility to realize a sensitive element, which base on the developed device were provided. It is supposed, that this sensitive element can be used in information measuring systems of various applications. The main calculation data, such as load-bearing capacity and other characteristics of the hemispherical gas-dynamic bearing is carried out. According to the attained results, preliminary implications are stated. The basic problems for the further research are determined

The Pavlov Department of Physiology: A Scientific History

Se sigue la aventura científica del Departamento de Fisiología Ivan Pavlov desde los trabajos pioneros de Pavlov y sus discípulos sobre la “salivación psíquica” hasta los tiempos de la Estación Biológica de Koltushi. Se describe el desarrollo del Departamento tras la muerte de Pavlov y se comentan las líneas de investigación de los actuales laboratorios (Neurobiología de las Funciones Integradoras del Cerebro, Psicofisiología de las Emociones y Corrección Neurodinámica de la Patología Psiconeurológica).The scientific adventure of the Ivan Pavlov Department of Physiology is traced from Pavlov’s and his students pioneer work on “psychic salivation” to the times of the Biological Station at Koltushi. The development of the Department after Pavlov’s death is described and the research trends of the three present laboratories (Neurobiology of Integrative Brain Functions, Psychophysiology of Emotions, and Neurodynamic Correction of Psycho Neurological Pathology) are discussed