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Books > Academic & Education > Professional & Technical > Econometrics
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.
The book first discusses in depth various aspects of the well-known
inconsistency that arises when explanatory variables in a linear
regression model are measured with error. Despite this
inconsistency, the region where the true regression coeffecients
lies can sometimes be characterized in a useful way, especially
when bounds are known on the measurement error variance but also
when such information is absent. Wage discrimination with imperfect
productivity measurement is discussed as an important special case.
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 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.
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.
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 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 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.
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.
This first volume of the "Handbook of Agricultural Economics" presents work on topics central to the economics of agriculture: the quantitative representation of technology; market expectations; household production behaviour; consumer behaviour with uncertain quality and safety of goods; and issues of imperfect competition in food marketing. Volume 1A treats issues in agricultural production, representing the consequences of decades of work deepening and widening the original focus of agricultural economics on farm management. In addition to the theory and estimation of production and supply behaviour in agriculture, chapters are devoted to topics on which major advancements have been made: technological change; returns to agricultural research; the industrial structure of agriculture, land institutions and markets; and human capital and finance. Two chapters are further specialized to rural labour and household issues: migration and the role of women in developing countries.
As a relatively new subdiscipline of economics, health economics has made many contributions to areas of the main discipline, such as insurance economics. This volume provides a survey of the burgeoning literature on the subject of health economics.
This handbook aims to provide a survey of the stet of knowledge in the broad area that includes the theories and facts of economic growth and economic fluctuations, as well as the consequences of monetary conditions. Macroeconomics underwent a evolution in the 70s and 80s due to the introduction of the methods of rational expectations, dynamic optimization, and general equilibrium analysis into macroeconomic models, to the development of new theories of economic fluctuations, and to the introduction of sophisticated methods for the analysis of economic time series. These developments were both important and exciting. However, the rapid change in methods and theories led to considerable-disagreement, especially in the 80s, as to whether there was any core of common beliefs, even about the defining problems of the subject, that united macroeconomists any longer. The 90s have also been exciting, but for a different reason. Modern methods of analysis have progressed to the point where they are now much better able to address practical or substantive macroeconomic questions - whether traditional, new, empirical, or policy related. Indeed, it is no longer necessary to choose between more powerful methods and practical policy concerns. The editors believe that both the progress and the focus on substantive problems has led to a situation in macroeconomics where the area of common ground is considerable, though they cannot yet announce a "new synthesis" that could be endorsed by most scholars working in the field. For this reason this handbook is organized around substantive macroeconomic problems, and not around alternative methodological approaches or schools of thought. The extent to which the field has changed over the past decade is considerable. This work is a response to the need for the survey of the current state of macroeconomics.
For this Handbook authors known to have different views regarding
the nature of development economics have been selected. The
Handbook is organised around the implications of different sets of
assumptions and their associated research programs. It is divided
into three volumes, each with three parts which focus on the broad
processes of development. For more detailed information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/hes
This is the second of three volumes surveying the state of the art
in Game Theory and its applications to many and varied fields, in
particular to economics. The chapters in the present volume are
contributed by outstanding authorities, and provide comprehensive
coverage and precise statements of the main results in each area.
The applications include empirical evidence. The following topics
are covered: communication and correlated equilibria, coalitional
games and coalition structures, utility and subjective probability,
common knowledge, bargaining, zero-sum games, differential games,
and applications of game theory to signalling, moral hazard,
search, evolutionary biology, international relations, voting
procedures, social choice, public economics, politics, and cost
allocation. This handbook will be of interest to scholars in
economics, political science, psychology, mathematics and biology.
For more information on the Handbooks in Economics series, please
see our home page on http: //www.elsevier.nl/locate/hes
Hardbound. This handbook serves as a source, reference, and teaching supplement for industrial organization (or industrial economics), the broad field within microeconomics that focuses on business behavior and its implications both for market structures and processes, and for public policies towards them. Comprehensive and up-to-date surveys are provided of recent developments and the state of knowledge in the major areas of research in this field as of the latter part of the 1980's, written at a level suitable for use by non-specialist economists and students on advanced graduate courses. Each chapter can be read independently, although they are organized into sections. For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/he
Hardbound. This handbook serves as a source, reference, and teaching supplement for industrial organization (or industrial economics), the broad field within microeconomics that focuses on business behavior and its implications both for market structures and processes, and for public policies towards them. Comprehensive and up-to-date surveys are provided of recent developments and the state of knowledge in the major areas of research in this field as of the latter part of the 1980's, written at a level suitable for use by non-specialist economists and students on advanced graduate courses. Each chapter can be read independently, although they are organized into sections.For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/he
The second volume of the Handbook of Defense Economics addresses
defense needs, practices, threats, and policies in the modern era
of globalization. This new era concerns the enhanced cross-border
flows of all kinds (e.g., capital and labor flows, revolutionary
rhetoric, guerrillas, and terrorists) including the spillovers of
benefits and costs associated with public goods and transnational
externalities (i.e., uncompensated interdependencies affecting two
or more nations). These ever-increasing flows mean that military
armaments and armies are less able to keep out security threats.
Thus, novel defense and security barriers are needed to protect
borders that are porous to terrorists, pollutants, political
upheavals, and conflicts. Even increased trade and financial flows
imply novel security challenges and defenses. Globalization also
underscores the importance of a new set of institutions (e.g., the
European Union and global governance networks) and agents (e.g.,
nongovernmental organizations and partnerships).
Applied financial econometrics subjects are featured in this second volume, with papers that survey important research even as they make unique empirical contributions to the literature. These subjects are familiar: portfolio choice, trading volume, the risk-return tradeoff, option pricing, bond yields, and the management, supervision, and measurement of extreme and infrequent risks. Yet their treatments are exceptional, drawing on current data and evidence to reflect recent events and scholarship. A landmark in its coverage, this volume should propel financial econometric research for years. Presents a broad survey of current research
For this Handbook authors known to have different views regarding the nature of development economics have been selected. The Handbook is organised around the implications of different sets of assumptions and their associated research programs. It is divided into three volumes, each with three parts which focus on the broad processes of development. Volume 1 of the Handbook begins by discussing the concept of development, its historical antecedents, and alternative approaches to the study of development, broadly construed. The second part is devoted to the structural transformation of economies. The role that human resources play in economic development is the focus of the last section of this volume. For more detailed information on the Handbooks in Economics
series, please see our home page on http:
//www.elsevier.nl/locate/hes
What are the goals ofmonetary policy and how are they transmitted? Top scholars summarize recent evidence on the roles of money in
the economy, the effects ofinformation, and the growing importance
of nonbank financial institutions. Their investigations lead to
questions about standard presumptions about the rationality of
asset markets and renewed interest in fiscal-monetary connections.
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.
How can economists define social preferences and interactions? Culture, familial beliefs, religion, and other sources contain the origins of social preferences. Those preferences--the desire for social status, for instance, or the disinclination to receive financial support--often accompany predictable economic outcomes. Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Their work brings order to the sometimes conflicting claims that countries, environments, beliefs, and other influences make on our economic decisions. Describes recent scholarship on social choice and introduces new
evidence about social preferences
How does education affect economic and social outcomes, and how
can it inform public policy? Volume 3 of theHandbooks in the
Economics of Education uses newly available high quality data from
around the world to address these and other core questions. With
the help ofnew methodological approaches, contributors cover
econometric methods and international test score data. They examine
the determinants of educational outcomes andissues surrounding
teacher salaries and licensure. And reflecting government
demandsfor more evidence-based policies, they take new looks at
institutional feaures of school systems. Volumeeditors Eric A.
Hanushek(Stanford), Stephen Machin (University College London) and
Ludger Woessmann (Ifo Institute for Economic Research, Munich) draw
clear lines between newly emergingresearch on the economics of
education and prior work. In conjunction with Volume 4,
theymeasureour current understanding of educationalacquisition and
its economic and socialeffects.
What new tools and models are enriching labor economics? "Developments in Research Methods and their Application" (volume
4A) summarizes recent advances in the ways economists study wages,
employment, and labor markets. Mixing conceptual models and
empirical work, contributors cover subjects as diverse as field and
laboratory experiments, program evaluation, and behavioral models.
The combinations of these improved empirical findings with new
models reveal how labor economists are developing new and
innovative ways to measure key parameters and test important
hypotheses.
Economists examine the genesis of technological change and the ways we commercialize and diffuse it. The economics of property rights and patents, in addition to industry applications, are also surveyed through literature reviews and predictions about fruitful research directions. - Two volumes, available as a set or sold separately 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. |
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