The Handbook is a definitive reference source and teaching aid for econometricians. It examines models, estimation theory, data analysis and field applications in econometrics. Comprehensive surveys, written by experts, discuss recent developments at a level suitable for professional use by economists, econometricians, statisticians, and in advanced graduate econometrics courses. For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/hes

The Handbook of Mathematical Economics aims to provide a definitive source, reference, and teaching supplement for the field of mathematical economics. It surveys, as of the late 1970's the state of the art of mathematical economics. This is a constantly developing field and all authors were invited to review and to appraise the current status and recent developments in their presentations. In addition to its use as a reference, it is intended that this Handbook will assist researchers and students working in one branch of mathematical economics to become acquainted with other branches of this field. Volume 1 deals with "Mathematical Methods in Economics," including reviews of the concepts and techniques that have been most useful for the mathematical development of economic theory.

For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/hes

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 applications covered include: futures, pricing, job search, stochastic capital theory, stochastic economic growth, the rational expectations hypothesis, a stochastic macroeconomic model, competitive firm under price uncertainty, the Black-Scholes option pricing theory, optimum consumption and portfolio rules, demand for index bonds, term structure of interest rates, the market risk adjustment in project valuation, demand for cash balances and an asset pricing model.

The Handbook of Mathematical Economics aims to provide a definitive source, reference, and teaching supplement for the field of mathematical economics. It surveys, as of the late 1970's the state of the art of mathematical economics. This is a constantly developing field and all authors were invited to review and to appraise the current status and recent developments in their presentations. In addition to its use as a reference, it is intended that this Handbook will assist researchers and students working in one branch of mathematical economics to become acquainted with other branches of this field. Volume 2 elaborates on "Mathematical Approaches to Microeconomic Theory," including consumer, producer, oligopoly, and duality theory, as well as "Mathematical Approaches to Competitive Equilibrium" including such aspects of competitive equilibrium as existence, stability, uncertainty, the computation of equilibrium prices, and the core of an economy.

For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/hes

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.
Offers analyses by top scholars of recent asset pricing scholarshipExplains how the 2008 financial crises affected theoretical and empirical researchCovers core and newly developing fields"

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.
Winner of a 2011 PROSE Award Honorable Mention in Economics from the Association of American PublishersDemonstrates how new methodologies are yielding fresh perspectives in education economicsPresents topics and authors whose data and conclusions attest to the globalization of research Complements the policy and social outcomes themes of volume 3

What new theories, evidence, andpolicies have shaped health economicsin the 21st century?

Editors Mark Pauly, Thomas McGuire, and Pedro Pita Barros assemblethe expertise of leading authoritiesin this survey ofsubstantive issues. In 16chapters theycover recent developments in health economics, from medical spending growth to the demand for health care, the markets for pharmaceutical products, the medical workforce, and equity in health and health care.Its global perspective, including an emphasis on low and middle-income countries, will result in the same high citations that made Volume 1 (2000) a foundational text.
Presents coherent summaries of major subjects and methodologies, marking important advances and revisions. Serves as a frequently used non-journal reference. Introduces non-economists to the best research in health economics. "

What tools are available for setting and analyzing monetary policy?

World-renowned contributors examine recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship.
Explores themodels and practices used in formulating and transmitting monetary policiesRaises new questions about the volume, price, and availability of credit in the 2007-2010 downturnQuestions fiscal-monetary connnections and encourages new thinking about the business cycle itselfObserves changes in the formulation of monetary policies over the last 25 years"

How do economists understand and measure normal social phenomena?

Identifying economic strains in activities such as learning, group formation, discrimination, and peer dynamics requires sophisticated data and tools as well as a grasp of prior scholarship. In this volume leading economists provide an authoritative summary of social choice economics, from norms and conventions to the exchange of discrete resources. Including both theoretical and empirical perspectives, their work provides the basis for models that can offer new insights in applied economic analyses.
Reviews the recent approaches that enable economists to separate influences of culture from those caused by economic and institutional environments
Explores the recent willingness among economists to consider new arguments in the utility function
Presumes that these investigations can eventually be translated into policies

What factors affect the ways individuals participate in labor markets?

"New Developments and Research on Labor Markets" (volume 4B) proposes answers to this and other questions on important topics of public policy. Leading labor economists demonstrate how better data and advanced experiments help them apply economic theory, yielding sharper analyses and conclusions. The combinations of these improved empirical findings with new models enable the authors of these chapters to reveal how labor economists are developing new and innovative ways to measure key parameters and test important hypotheses.

Concentrates on empirical research in specific labor markets, including those defined by age, gender, and race
Reveals how questions and answers about these markets have changed and how models measure them
Documents how conceptual models and empirical work explain important practical issues

How does technology advance? How can we best assimilate innovation? These questions and others are considered by experts on the theories and applications of technological innovations. Considering subjects as diverse as the diffusion of new technologies and their industrial applications, governmental policies, and manifestations of innovation in our institutions, history, and environment, our contributors map milestones in research and speculate about the roads ahead. Wasteful, inefficient, and frequently wrongheaded, the process of technological changes is here revealed as a describable, scientific force.

- Two volumes, available separately and as a set

Expert articles consider the best ways to establish optimal incentives in technological progress.

Science and innovation, both their theories and applications, are examined at the intersections of the marketplace, policy, and social welfare.

Economists are only part of an audience that includes attorneys, educators, and anyone involved in new technologies."

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.
Presents a broad survey of current research-from local characterizations of the Markov process dynamics to financial market trading activityContributors include Nobel Laureate Robert Engle and leading econometriciansOffers a clarity of method and explanation unavailable in other financial econometrics collections"

Advances in agriculture offer many countries the best and only chance of reducing poverty. Yet economic growth and population increases are driving higher demand for food and rising real prices. What solutions have successfully promoted agriculture? This volume examines national and international food agriculture policies and how they enhance agricultural productivity growth. It provides unique historical reviews on policies and their effects, and it clearly articulates both positive and negative lessons for promoting agriculture lead growth. With chapters written by international authorities, this book recognizes that agriculture is not just about providing food for today, but about growing it in an environmentally sustainable way that can help people work their ways out of poverty.Chapters cover international macro-economic policies and trade, farm structure in developing countries, regional experiences in agriculture, and regional studies on agricultural productivity policies.

The field of development economics has evolved since volume 3 of the Handbook of Development Economics was published more than a decade ago. Volume 4 takes stock of some of the newer trends and their implications for research in the field and our understanding of economic development.
The handbook is divided into four sections which reflect these developments, of which the first deals with agricultural and rural development. Section two is concerned with developments in the theory and evidence regarding public goods and political economy. The third section is focused on the behavior of households and individuals regarding various aspects of human capital investments, in the face of the various constraints, particularly market incentives and public goods. The final section contains papers that describe the different methods now available, both experimental and non-experimental, to conduct program evaluations, as well as describing papers that implement these methods.
The authors of the chapters are all experts in the fields they survey and extend, and this volume promises to be an invaluable addition to the Handbooks in Economics series and a useful reference to graduate students, researchers and professionals in the field of development economics.
* Presents an accurate, self-contained survey of the current state of the field.
* Summarizes the most recent discussions in journals, and elucidates new developments.
* Although original material is also included, the main aim is the provision of comprehensive and accessible surveys.

As conceived by the founders of the Econometric Society, econometrics is a field that uses economic theory and statistical methods to address empirical problems in economics. It is a tool for empirical discovery and policy analysis. The chapters in this volume embody this vision and either implement it directly or provide the tools for doing so. This vision is not shared by those who view econometrics as a branch of statistics rather than as a distinct field of knowledge that designs methods of inference from data based on models of human choice behavior and social interactions. All of the essays in this volume and its companion volume 6B offer guidance to the practitioner on how to apply the methods they discuss to interpret economic data. The authors of the chapters are all leading scholars in the fields they survey and extend.
*Part of the renowned Handbooks in Economics Series
*Updates and expands the exisiting "Handbook of Econometrics" volumes
*An invaluable reference written by some of the world's leading econometricians.

The Handbooks in Economics series continues to provide the various branches of economics with handbooks which are definitive reference sources, suitable for use by professional researchers, advanced graduate students, or by those seeking a teaching supplement.
With contributions from leading researchers, each Handbook presents an accurate, self-contained survey of the current state of the topic under examination. These surveys summarize the most recent discussions in journals, and elucidate new developments.
Although original material is also included, the main aim of this series is the provision of comprehensive and accessible surveys
*Every volume contains contributions from leading researchers
*Each Handbook presents an accurate, self-contained survey of a particular topic
*The series provides comprehensive and accessible surveys

The "Handbook on the Economics of Giving, Reciprocity and Altruism" provides a comprehensive set of reviews of literature on the economics of nonmarket voluntary transfers. The foundations of the field are reviewed first, with a sequence of chapters that present the hard core of the theoretical and empirical analyses of giving, reciprocity and altruism in economics, examining their relations with the viewpoints of moral philosophy, psychology, sociobiology, sociology and economic anthropology. Secondly, a comprehensive set of applications are considered of all the aspects of society where nonmarket voluntary transfers are significant: family and intergenerational transfers; charity and charitable institutions; the nonprofit economy; interpersonal relations in the workplace; the Welfare State; and international aid.
*Every volume contains contributions from leading researchers
*Each Handbook presents an accurate, self-contained survey of a particular topic
*The series provides comprehensive and accessible surveys

The Handbook on the Economics of Giving, Reciprocity and Altruism provides a comprehensive set of reviews of literature on the economics of nonmarket voluntary transfers. The foundations of the field are reviewed first, with a sequence of chapters that present the hard core of the theoretical and empirical analyses of giving, reciprocity and altruism in economics, examining their relations with the viewpoints of moral philosophy, psychology, sociobiology, sociology and economic anthropology. Secondly, a comprehensive set of applications are considered of all the aspects of society where nonmarket voluntary transfers are significant: family and intergenerational transfers; charity and charitable institutions; the nonprofit economy; interpersonal relations in the workplace; the Welfare State; and international aid.
*Every volume contains contributions from leading researchers
*Each Handbook presents an accurate, self-contained survey of a particular topic
*The series provides comprehensive and accessible surveys

The Handbooks in Economics series continues to provide the various branches of economics with handbooks which are definitive reference sources, suitable for use by professional researchers, advanced graduate students, or by those seeking a teaching supplement.
The Handbook of Economic Growth, edited by Philippe Aghion and Steven Durlauf, with an introduction by Robert Solow, features in-depth, authoritative survey articles by the leading economists working on growth theory.
Volume 1A, the first in this two volume set, covers theories of economic growth, the empirics of economic growth, and growth policies and mechanisms.
Volume 1B, the second in this two volume set, covers technology, trade and geography, and growth and socio-economic development.

The Handbooks in Economics series continues to provide the various branches of economics with handbooks which are definitive reference sources, suitable for use by professional researchers, advanced graduate students, or by those seeking a teaching supplement.

"The Handbook of Economic Growth," edited by Philippe Aghion and Steven Durlauf, with an introduction by Robert Solow, features in-depth, authoritative survey articles by the leading economists working on growth theory.

Volume 1a, the first in this two volume set, covers theories of economic growth, the empirics of economic growth, and growth policies and mechanisms.

Volume 1b, the second in this two volume set, covers technology, trade and geography, and growth and socio-economic development.

The new Handbook of Regional and Urban Economics: Cities and Geography reviews, synthesizes and extends the key developments in urban and regional economics and their strong connection to other recent developments in modern economics. Of particular interest is the development of the new economic geography and its incorporation along with innovations in industrial organization, endogenous growth, network theory and applied econometrics into urban and regional economics.

The chapters cover theoretical developments concerning the forces of agglomeration, the nature of neighborhoods and human capital externalities, the foundations of systems of cities, the development of local political institutions, regional agglomerations and regional growth. Such massive progress in understanding the theory behind urban and regional phenomenon is consistent with on-going progress in the field since the late 1960's. What is unprecedented are the developments on the empirical side: the development of a wide body of knowledge concerning the nature of urban externalities, city size distributions, urban sprawl, urban and regional trade, and regional convergence, as well as a body of knowledge on specific regions of the world-Europe, Asia and North America, both current and historical.

The Handbook is a key reference piece for anyone wishing to understand the developments in the field.

Volume 1A covers corporate finance: how businesses allocate capital - the capital budgeting decision - and how they obtain capital - the financing decision. Though managers play no independent role in the work of "Miller" and "Modigliani," major contributions in finance since then have shown that managers maximize their own objectives. To understand the firm's decisions, it is therefore necessary to understand the forces that lead managers to maximize the wealth of shareholders.

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.