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Books > Academic & Education > Professional & Technical > Econometrics
In this collection of 17 articles, top scholars synthesize and
analyze scholarship on this widely used tool of policy analysis,
setting forth its accomplishments, difficulties, and means of
implementation. Though CGE modeling does not play a prominent role
in top US graduate schools, it is employed universally in the
development of economic policy. This collection is particularly
important because itpresents a history of modeling applications and
examines competing points of view.
What is the value of an education? Volume 4 of the Handbooks in
the Economics of Education combines recent data with new
methodologies to examine this and related questions from diverse
perspectives. School choice and school competition, educator
incentives, the college premium, and other considerations help make
sense of the investments and returns associated with education.
Volume editors Eric A. Hanushek (Stanford), Stephen Machin
(University College London) and Ludger Woessmann (Ifo Institute for
Economic Research, Munich) draw clear lines between newly emerging
research on the economics of education and prior work. In
conjunction with Volume 3, they measure our current understanding
of educational acquisition and its economic and social
effects.
This second part of a two-volume set continues to describe
economists' efforts to quantify the social decisions people
necessarily make and the philosophies that those choices define.
Contributors draw on lessons from philosophy, history, and other
disciplines, but they ultimately use editor Kenneth Arrow's seminal
work on social choice as a jumping-off point for discussing ways to
incentivize, punish, and distribute goods.
Volume 3 of this series of the Handbooks in Economics follows on
from the previous two volumes by focusing on the fundamental
concepts of agricultural economics. The first part of the volume
examines the developments in human resources and technology
mastery. The second part follows on by considering the processes
and impact of invention and innovation in this field. The effects
of market forces are examined in the third part, and the volume
concludes by analysing the economics of our changing natural
resources, including the past effects of climate change.
Volume 1B covers the economics of financial markets: the saving and investment decisions; the valuation of equities, derivatives, and fixed income securities; and market microstructure.
The Handbook of Environmental Economics focuses on the economics of environmental externalities and environmental public goods. Volume I examines environmental degradation and policy responses from a microeconomic, institutional standpoint. Its perspective is dynamic, including a consideration of the dynamics of natural systems, and global, with attention paid to issues in both rich and poor nations. In addition to chapters on well-established topics such as the theory and practice of pollution regulation, it includes chapters on new areas of environmental economics research related to common property management regimes; population and poverty; mechanism design; political economy of regulation; experimental evaluations of policy instruments; and technological change.
The publication of volumes 3 and 4 of the Handbook of Public
Economics affords us several opportunities: to address lacunae in
the original two volumes of this series, to revisit topics on which
there has been substantial new research, and to address topics that
have grown in importance. Indeed, many of the papers individually
encompass all three of these elements. For each chapter relates to
one from an earlier volume, the new contribution is free standing,
written with the knowledge that the reader retains the opportunity
to review the earlier chapter to compare perspectives and consider
material that the current author has chosen not to cover. Indeed,
such comparisons illuminate the evolution of the field during the
two decades that have elapsed since work first began on the
chapters in volume 1. Taken together, the four volumes offer a
comprehensive review of research in public economics over the past
few decades, written by many of the field's leading
researchers.
The Handbook of Social Choice and Welfare presents, in two volumes,
essays on past and on-going work in social choice theory and
welfare economics. The first volume consists of four parts. In Part
1 (Arrovian Impossibility Theorems), various aspects of Arrovian
general impossibility theorems, illustrated by the simple majority
cycle first identified by Condorcet, are expounded and evaluated.
It also provides a critical survey of the work on different escape
routes from impossibility results of this kind. In Part 2 (Voting
Schemes and Mechanisms), the operation and performance of voting
schemes and cost-sharing mechanisms are examined axiomatically, and
some aspects of the modern theory of incentives and mechanism
design are expounded and surveyed. In Part 3 (structure of social
choice rules), the positional rules of collective decision-making
(the origin of which can be traced back to a seminal proposal by
Borda), the game-theoretic aspects of voting in committees, and the
implications of making use of interpersonal comparisons of welfare
(with or without cardinal measurability) are expounded, and the
status of utilitarianism as a theory of justice is critically
examined. It also provides an analytical survey of the foundations
of measurement of inequality and poverty. In order to place these
broad issues (as well as further issues to be discussed in the
second volume of the Handbook) in perspective, Kotaro Suzumura has
written an extensive introduction, discussing the historical
background of social choice theory, the vistas opened by Arrow's
"Social Choice and Individual Values," the famous "socialist
planning" controversy, and the theoretical and practical
significance of social choice theory. The primary purpose of this
Handbook is to provide an accessible introduction to the current
state of the art in social choice theory and welfare economics. The
expounded theory has a strong and constructive message for pursuing
human well-being and facilitating collective decision-making.
*Advances economists understanding of recent advances in social choice and welfare *Distills and applies research to a wide range of social issues *Provides analytical material for evaluating new scholarship *Offers consolidated reviews and analyses of scholarship in a framework that encourages synthesis. "
This text aims to provide a survey of the state of knowledge in the broad area that includes the theories and facts of economic growth and economic fluctuations, as well as the consquences of monetary and fiscal policies for general economic conditions.
In this collection of 16 articles, top scholars synthesize and
analyze scholarship on this widely used tool of policy analysis,
setting forth its accomplishments, difficulties, and means of
implementation. Though CGE modeling does not play a prominent role
in top US graduate schools, it is employed universally in the
development of economic policy. This collection is particularly
important because it presents a history of modeling applications
and examines competing points of view.
Hardbound. The Handbook of Natural Resource and Energy Economics examines the current theory, and samples current application methods for natural resource and energy economics. This third volume of the Handbook deals primarily with non-renewable resources. It analyzes the economics of energy and minerals, and includes chapters on the economics of environmental policy. The Handbook provides a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. The surveys summarize not only received results but also newer developments from recent journal articles and discussion papers.For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/he
Two important new developments have occurred that have significant
impact on the evolution of econometrics, namely, the end of the
Cold War and the emergence of the information revolution in nearly
all economies of the world. The information revolution has had significant effect on data
flows, making them much more timely, accessible, and descriptive of
more parts of the economy. At the same time, it has changed the
industrial structure of many economies, giving rise to increasing
importance of the tertiary sectors (e.g. services). The new
generation of hardware and software enables econometricians to
handle larger and more complex problems, especially those that are
data intensive and computer intrusive. These major events require reconsideration and redrafting of
some of the materials of the original edition. The present volume retains the original structure of "Lectures
on Microeconomic Theory" and takes up principles of constructing
dynamic macroeconometric models and their use in economic analyses
and forecasting, while introducing many updates, revisions and
extensions. The description of the econometric methodology has been
limited to specific applications of time series analysis, and the
title has been changed to "Principles of Macroeconometric
Modeling."
This Handbook adopts a traditional definition of the subject, and
focuses primarily on the explanation of international transactions
in goods, services, and assets, and on the main domestic effects of
those transactions. The first volume deals with the "real side" of
international economics. It is concerned with the explanation of
trade and factor flows, with their main effects on goods and factor
prices, on the allocation of resources and income distribution and
on economic welfare, and also with the effects on national policies
designed explicitly to influence trade and factor flows. In other
words, it deals chiefly with microeconomic issues and methods. The
second volume deals with the "monetary side" of the subject. It is
concerned with the balance of payments adjustment process under
fixed exchange rates, with exchange rate determination under
flexible exchange rates, and with the domestic ramifications of
these phenomena. Accordingly, it deals mainly with macroeconomic
issues, although microeconomic methods are frequently utilized,
especially in work on expectations, asset markets, and exchange
rate behavior. For more information on the Handbooks in Economics
series, please see our home page on http:
//www.elsevier.nl/locate/hes
The Handbook brings together a systematic review of the research
topics, empirical findings, and methods that comprise modern labor
economics. It serves as an introduction to what has been done in
this field, while at the same time indicating possible future
trends which will be important in both spheres of public and
private decision-making.
The Handbook brings together a systematic review of the research
topics, empirical findings, and methods that comprise modern labor
economics. It serves as an introduction to what has been done in
this field, while at the same time indicating possible future
trends which will be important in both spheres of public and
private decision-making.
This book serves not only as an introduction, but also as an
advanced text and reference source in the field of deterministic
optimal control systems governed by ordinary differential
equations. It also includes an introduction to the classical
calculus of variations.
This book deals with microeconomic theory as it concerns general
economic equilibrium and the implications for prices and resource
allocation.
This Handbook adopts a traditional definition of the subject, and
focuses primarily on the explanation of international transactions
in goods, services, and assets, and on the main domestic effects of
those transactions.
Theory and application of a variety of mathematical techniques in
economics are presented in this volume. Topics discussed include:
martingale methods, stochastic processes, optimal stopping, the
modeling of uncertainty using a Wiener process, Ito's Lemma as a
tool of stochastic calculus, and basic facts about stochastic
differential equations. The notion of stochastic ability and the
methods of stochastic control are discussed, and their use in
economic theory and finance is illustrated with numerous
applications.
The 12 articles in this second of twoparts condense recent advances
on investment vehicles, performance measurement and evaluation, and
risk management into a coherent springboard for future research.
Written by world leaders in asset pricing research, they present
scholarship about the 2008 financial crisis in contexts that
highlight both continuity and divergence in research. For those who
seek authoritative perspectives and important details, this volume
shows how the boundaries of asset pricing have expanded and at the
same time have grown sharper and moreinclusive.
This collection of original articles 8 years in the making
shines a bright light on recent advances in financial econometrics.
From a survey of mathematical and statistical tools for
understanding nonlinear Markov processes to an exploration of the
time-series evolution of the risk-return tradeoff for stock market
investment, noted scholars Yacine Ait-Sahalia and Lars Peter Hansen
benchmark the current state of knowledge while contributors build a
framework for its growth. Whether in the presence of statistical
uncertainty or the proven advantages and limitations of value at
risk models, readers will discover that they can set few
constraints on the value of this long-awaited volume.
The subject matter of agricultural economics has both broadened and deepened and the chapters of this handbook present innovative work in the field. This volume contains part 5 of the handbook on "agricultural and food policy" and follows on from volume 2A which has chapters on "agriculture, natural resources and the environment" and "agriculture in the macroeconomy". Although agricultural economists have always paid attention to these topics, research devoted to them has increased substantially in scope as well as depth in recent years.
The Field of Public Economics has been changing rapidly in recent
years, and the sixteen chapters contained in this Handbook survey
many of the new developments. As a field, Public Economics is
defined by its objectives rather than its techniques and much of
what is new is the application of modern methods of economic theory
and econometrics to problems that have been addressed by economists
for over two hundred years. More generally, the discussion of
public finance issues also involves elements of political science,
finance and philosophy. These connections are evidence in several
of the chapters that follow. |
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