Hardbound. This special issue, sponsored by the Middle East Economic Association is the first thematic volume offered in this series. Devoted to the thorny topic of the economic dimensions of peace in the Middle East, it is hoped that this book will clarify some of the main issues confronting different Middle Eastern actors in a post-Oslo world and provide a basis for further inquiry and exploration.

This report is a partial result of the China's Quarterly Macroeconometric Model (CQMM), a project developed and maintained by the Center for Macroeconomic Research (CMR) at Xiamen University. The CMR is one of the Key Research Institutes of Humanities and Social Sciences sponsored by the Ministry of Education of China, focusing on China's economic growth and macroeconomic policy. The CMR started to develop the CQMM for purpose of short-term forecasting, policy analysis, and simulation in 2005.Based on the CQMM, the CMR and its partners hold press conferences to release forecasts for China' major macroeconomic variables. Since July 2006, twenty-four quarterly reports on China's macroeconomic outlook have been presented and eleven annual reports have been published.This 25th quarterly report was presented at the Forum on China's Macroeconomic Outlook and Press Conference of CQMM on October 25, 2018. This conference was jointly held by SOAS London University, Xiamen University, and Economic Information Daily in London, UK.

This two-volume work provides a comprehensive overview of the Belt and Road Initiative, examining its impact on economic growth, trade, financial systems and international relations. Weaving theory with real-world examples, Joshua makes an important contribution to the understanding of how the Global Economy is being shaped through these developments. In this second volume, Joshua focuses on the operation of the international monetary system and the effects of the Belt and Road Initiative on both China's domestic economy and the Global Economy. In addition, this volume addresses the consequences of economic growth on the environment and international relations.

• Introduces the dynamics, principles and mathematics behind ten macroeconomic models allowing students to visualise the models and understand the economic intuition behind them. • Provides a step-by-step guide, and the necessary MATLAB codes, to allow readers to simulate and experiment with the models themselves.

This book analyzes of the surplus of production capacity in China. According to a government statement, there is a serious surplus of productive capacity in the steel, cement, glass, aluminum, and shipbuilding industries. There was no surplus of productive capacity in above industries between 2002 and 2012, and the current surplus is due to poor government policies on real estate prices after 2012. The book argues that if the Chinese government invested more in social welfare housing over the next few years the surplus of productive capacity would very soon disappear.

This book provides an introductory theoretical foundation of the ethics embedded in Islamic economics and finance, and it shows how this ethical framework could pave the way to economic and social justice. It demonstrates how Islamic finance-a risk-sharing and asset-backed finance-has embedded universal values, ethical rules, and virtues, and how these qualities may be applied to a supposedly value-neutral social science to influence policy-making. This book argues that ethical and responsible finance, such as Islamic finance, could lead the efforts to achieve sustainable economic development. Iqbal and Mirakhor then conduct a comparative analysis of Islamic and conventional financial systems and present Islamic finance as an alternative that can address today's growing problems of inequality, social injustice, financial repression, unethical leadership, and lack of opportunity to share prosperity.

This book contends that central bank policy pits the Federal Reserve against consumers, creating business cycles and inflation. As the cycle proceeds, the velocity of money starts to rise, complicating the central bank's problems. Ultimately, either a depression or a runaway inflation develops. The gold standard would not alter patterns of supply and demand and would prevent business cycles and inflation.

Central bank policies inevitably alter patterns of supply and demand from what they would be, based on consumer sovereignty. This changes the mix of human and physical capital available to produce a mixture of consumer goods. The economy struggles to right itself against these imbalances. Ultimately, the monetary velocity and price inflation start to rise, worsening the government's problems. In time, either a traditional depression or a runaway inflation results. The gold standard would prevent the twin evils of recession and price inflation. Investment professionals, corporate economists and others in strategic and financial planning capacities will find Mr. Marquard's book both challenging and provocative.

This volume presents the proceedings of the ZAFIN Finance and Sustainability conference, organized by the Wroclaw University of Economics in cooperation with Corvinus University of Budapest and the University of Economics in Prague. The contributing authors analyze a variety of issues concerning recent finance problems, including corporate finance, public finance, monetary and fiscal policy issues, and risk management. The book also addresses topics connected to sustainable finance, the transition to green economies, corporate sustainability and sustainable development. The target audience for this book includes researchers at universities and research and policy institutions, graduate students, and practitioners in economics and finance working for private or government institutions.

Productivity Perspectives offers a timely and stimulating social science view on the productivity debate, drawing on the work of the ESRC funded Productivity Insights Network. The book examines the drivers and inhibitors of UK productivity growth in the light of international evidence, and the resulting dramatic slowdown and flatlining of productivity growth in the UK. The reasons for this so-called productivity puzzle are not well understood, and this book advances explanations and insights on these issues from different disciplinary and methodological perspectives. It will be of value to all those interested in, and engaging with, the challenge of slowing productivity growth. This book will be essential and insightful reading for academics across the social sciences, business leaders and policy makers working on the productivity puzzle. Written in an accessible manner, it will also be of interest to a wide audience in government, the private sector and civil society. Contributors include: M. Abreu, J. Cook, I. Docherty, G. Dymski, B. Gardiner, D. Hardy, R. Harris, A. Henley, R. Huggins, H. Izushi, R. Lewney, K. Lisenkova, C. Mason, P. McCann, L. McSorley, J. Nelles, K. Newsome, V. Sena, I. Sprackling, T. Vorley, D. Waite

This book offers an essential guide to Public Finance and National Accounts in the context of the European Union. Since the creation of the Eurozone, fiscal policy has been at the heart of economic (but also political/media) discussions in the EU. From the Stability and Growth Pact (1997) to the more recent Fiscal Treaty, EU and Eurozone, countries have been subject to various fiscal rules. The importance of these rules, and of the subsequent procedures that every Eurozone country has to adhere to, is unquestionable. The book provides the reader with an in-depth understanding of the complex EU rules concerning fiscal policy, breaking down the corresponding legal texts into simple and accessible language. It has a broad interdisciplinary appeal, and scholars and practitioners whose work involves these areas will find it of particular interest.

From the bestselling author of The Black Swan, a bold book that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility Why should we never listen to people who explain rather than do? Why do companies go bust? How is it that we have more slaves today than in Roman times? Why does imposing democracy on other countries never work? The answer: too many people running the world don't have skin in the game. In his inimitable, pugnacious style, Nassim Nicholas Taleb shows that skin in the game applies to all aspects of our lives. It's about having something to lose and taking a risk. Citizens, lab experimenters, artisans, political activists and hedge fund traders all have skin in the game. Policy wonks, corporate executives, theoreticians, bankers and most journalists don't. As Taleb says, "The symmetry of skin in the game is a simple rule that's necessary for fairness and justice, and the ultimate BS-buster," and "Never trust anyone who doesn't have skin in the game. Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them".

The Economic Reconciliation Process uses the experiences of the European Union and North American countries in preventing conflicts by economic solutions, to evaluate the feasibility and potential efficiency of hybrid cross border economic models of development in the Middle East. By evaluating the potential impact of the proposed economic cooperation on political solutions to conflict, Bijaoui analyzes the potential implementation of those models in other regions in conflict. Bijaoui's research develops a hybrid cross-border model based on the free economic zone, the industrial district, and the cluster to generate a common economic interest between countries or populations in declared or potential conflict in the Middle East.

The papers in this proceedings volume were presented at the 9th international conference "The Economies of the Balkan and Eastern European Countries in the Changing World" (EBEEC) held in Athens, Greece, in April 2017. They include the scientific results of research on current issues relevant for the wider area of Eastern Europe. Authors from 30 different countries develop new ideas, covering topics such as international economies, European integration, the economic crisis, macroeconomics, banking, stock markets, education, energy, innovation, and marketing. The contributions also examine the role of the economies of the Balkan and Eastern European countries in a pan-European context.

The central argument of this book is that the foundations for sustainable prosperity lie in an approach to economic management based on modern monetary theory and a job guarantee. This approach builds on the work of Keynes, Kalecki, Minsky, Davidson, Godley and other Post- Keynesian economists-as well as research by behavioral economists including Simon, Kahneman and Loewenstein-to explore the role that a permanent, equitable job guarantee could play in building an inclusive, participatory and just society. Orthodox (neoclassical) economics, in its various forms, has failed to deliver sustainable prosperity. An important reason for this failure is its lack of realistic foundations. It misrepresents both human nature and economic institutions, and its use as a frame for the development and assessment of economic policy proposals has had disastrous consequences for social inclusion and the quality of life of millions of people. This book discusses an alternative, more realistic and more useful set of economic foundations, which could deliver the opportunity of a decent quality of life with dignity to all.

Focusing on the supply-side structural reform in China, this book investigates the impetus, implementation strategy, initial results and theoretical underpinnings of the revolution, assessing its significance in perfecting China's socialist market economic system. The supply-side structural reform launched in China in 2015 aims to thoroughly resolve the cyclical excess capacity and the habitual imbalance of economic structure; and form a long-term mechanism for economic stability, different from the supply-side policies under the Reagan Administration in the 1980s. Based on the analysis framework of aggregate demand and supply, combined with institutional and structural analysis, the title elucidates the reason, theory, measures and results that ground the reform. It explicates the three-step strategy to ensure the successful outcome, countermeasures against current supply-side problems, upgrading the economic structure, and most importantly the institutional reform and innovation. The author emphasizes the importance of reforming both market and government, and advances a "double-effect" model combining the effective market and government. This title will appeal to scholars, students and policymakers interested in economics, macroeconomic control and the Chinese economy and economic system reform.

This book establishes that neoclassical economics based on the marginal utility calculus failed to derive a theory of consumer market price discovery consistent with the experimental market evidence. Such markets involve inherently discrete final-demand items bought for consumption and not subject to resale. Classical economists following Adam Smith articulated a rich narrative of price discovery theory consistent with experimental evidence based on operational concepts of discrete demand values (maximum willingness-to-pay), and symmetrically, supply costs (minimum willingness-to-accept). We develop and extend a mathematical model of classical market price formation. Chapter 1 & 2 describes this theme and chapter 3 connects it with experiments. Chapter 4 builds on experimental examples for an intuitive overview of the theory. A partial equilibrium version of the theory constitutes Chapter 5. Chapter 6 extends this framework to price formation by wealth constrained agents in multiple-goods markets. Chapter 7 applies this framework to the study of re-tradable durable-goods and financial claims that are subject to sources of instability absent in markets for consumer non-durables.

'. . . the volume constitutes an important collection, which portrays the evolution of the Phillips Curve and the potency of policy debates in a single canvas in an elegant and comprehensive manner. The gaps that seem to have remained may be remedied by the editors in the form of a companion volume discussing open economies and global interdependence. The production quality and editing of the book are also excellent. . .' - Biswajit Chatterjee, Indian Society of Labour Economics This authoritative three-volume collection provides a comprehensive anthology of many of the most important and influential articles written since the publication of Phillips' 1958 study - the most-cited macroeconomic paper published in the 20th century. Along with an original introduction by the editors, the papers evaluate the original contribution and place it in its historical context. The works also discuss the strengths and weaknesses of the New Classical critique and the expectations augmented Phillips Curve that resulted from it, and critique the part played by the 'New Keynesian Phillips Curve' in the New neo-Classical Synthesis that has emerged in macroeconomics. This indispensable volume will be of immense value to students, scholars and practitioners interested in the field of economics, and the Phillips Curve in particular.

This book examines the efficiency and effectiveness of economic policies in Europe, and explores the implications for social equity. It argues for an integrated approach to economic and social objectives, and discusses the ways in which welfare states and institutions can contribute to equity and efficiency objectives.

This book develops a comprehensive framework for creating sustainable new business approaches on a massive scale. It relates the power of entrepreneurship, investment and technology to four areas in which progress is urgently needed to get out of the world's current impasse. These are: game-changing innovations in companies; a way forward for the global fashion industry that reconciles competitiveness and worker dignity; turning around the energy crisis; and restoring capital markets to being the funders of human progress and prosperity that they once were-the pieces of the puzzle that is our future. Numerous case studies and actionable guidelines show how to concretely get the job done.

Recent evidence suggests that macroeconomic outcomes are inferior in countries operating under presidential regimes compared with those with parliaments, with lower levels of economic growth, higher rates of inflation, and higher levels of income inequality in countries with presidential governments. Despite this, more heads of state look to consolidate and build their executive power. This book considers why presidential regimes, in particular, are so bad for the economy. Throughout the book, the authors comprehensively and simultaneously consider the impact of legal, political, and economic institutions on the mechanisms. It is first demonstrated that presidential countries have (on average) inferior outcomes relative to parliamentary states with respect to these institutions and, moreover, with respect to healthcare and human development indicators. Subsequently, the book explores the impact of constitutional choice (parliamentary versus presidential) on both institutions and macroeconomic outcomes. It is documented that having a presidential regime induces weaker institutions, but that quality institutions can mitigate some of the negative impacts of such regimes.

During the last century, we have witnessed the birth and evolution of sport as an economic activity, which has created jobs on the one hand, but also problems of management on the other. This process has not been immune from the parti- lar characteristics associated with sport, typically united here more than in other activities: technique, physical effort, entertainment and passion. And all this within a framework of ever-increasing consumption of ?nancial resources. It is not s- prising, therefore, that commonly-used economic models, based on mechanistic approaches, do not provide a viable solution to increasingly complex and incre- ingly frequent problems. Any attempt to apply such an approach in this technical, economic and ?nancial context can only result in failure. The high degree of subj- tivity inherent in sporting activity requires new tools, in which remodeled conc- tual, theoretical and technical elements should play an important role. Complexity, uncertainty and subjectivity are therefore basic to understand, and deal with, the phenomenon of sport. The necessity of resorting to these elements was identi?ed over a quarter of a century ago by a small group of professors and researchers at the University of Barcelona. Together we started the ?rst postgraduate courses and organized se- nars to alert sports centre managers, as well as to make private and public organi- tions aware of the increasing importance of a proper, speci?c management for sports organizations.

This book provides an impressive overview of emerging technologies, especially nanotechnologies and biotechnologies, and their prospective applications. It identifies and describes existing and potential markets for emerging technology-based applications, and projects scenarios for macroeconomic development based on these technologies. Integrated roadmaps for the development of a nano- and bioindustry are shown and policy measures and corporate strategies developed to advance these technologies. These measures are illustrated using roadmaps and policy case studies.The book combines a practical, comprehensive overview of the technical side of emerging technologies and their applications in various fields with an analysis of market developments and characteristics.

* 4th edition has more emphasis on inequality, ownership structures, financialization, the changing nature of work, and global as well as economy-wide change and uncertainty * Several chapters include discussion on the impacts of COVID-19 on economic well-being and other macroeconomic outcomes like health and labour markets * General updates, including new data, new exercises and discussion questions * The first three chapters of 3rd edition have now been condensed to two chapters in the 4th edition * Differs from other principles books on the market in its pluralist approach. It covers everything the student needs to know, whilst also placing issues in their historical, institutional, social, political, and ethical context. * Introduces students to different schools of thought in economics. Perspectives include neoclassical economics, Keynesian economics, ecological economics, institutional economics and feminist economics. * Logical building-block structure, providing student with a clear sequential approach to macroeconomic models. * Companion website with student study guide, PPT slides and teaching materials (including test bank)

The first stock exchange in Warsaw - capital city of the Kingdom of Poland- was established in 1817. Over the past 205 years, the fortunes of the capital market have been closely linked to the "bumpy road" of Polish history. The establishment of the GPW Warsaw Stock Exchange in 1991 was a landmark for transformation from a centrally planned communist economy to a market-driven capitalist one. Since the doors of the exchange reopened, Polish GDP per capita (current USD) increased eight times, translating into an average yearly growth rate of over 7%. The capital market has played a pivotal role in the economic success of Poland over the last three decades. It is not easy to precisely quantify the impact, as it was rather a spill-over effect. Economic growth has fostered the development of a capital market, and more efficient conversion of savings to investments via the capital market. The excellence of capital market institutions can be gauged with reference to various parameters. A synthetic measure is so-called market status. According to FTSE Russell (global index provider), Polish capital attained developed market status in 2018, being the first and only post-communist state to do so. It is fair to say that transformation has been completed and developed market status indicates clearly that the institutions and regulations are world class. The current challenge is competing with other developed markets for the best issuers and offering the most demanding investors an excellent trading experience. This book offers scientific insight into the Polish capital market story. Authored by a group of renowned scholars, with contributions aspiring to the highest academic standards for theoretical considerations and empirical research. The book covers various topics, including links between monetary policy and capital markets, micro and macro market structures, and investors and issuers' behaviour and strategies. All chapters are rooted in contemporary finance theory, supported by various econometric models based on the most recently available data. The book aims to provide academics and practitioners insight into the Polish capital market, appealing especially to those interested in gaining a deeper understanding of emerging markets' successful transformation into developed ones. It can also be used as supplementary reading for doctoral and master's students in finance, particularly relating to capital markets and economics - predominantly development economics and economic policy.