This broad survey of unemployment will be a major source of reference for both scholars and students. It aims to provide a basis for better policy: showing how the lessons learned from experience and theory can be applied to greatly reduce the waste and misery of high unemployment. The book surveys in a clear, concise manner the main aspects of the unemployment problem. It integrates macroeconomics with a detailed micro-analysis of the labour market. It uses the authors' model to explain the puzzling post-war history of OECD unemployment and shows how unemployment and inflation are affected by systems of wage bargaining and unemployment insurance. For each issue the authors' develop a relevant theory, followed by extensive empirical analysis. The authors are established experts in the field, and this book gives their definitive treatment. Now revised to include an analysis of unemployment changes since 1991, it is clear the authors' original model has stood the test of time making this book a must read for any student studying economics at an advanced level.

No single system of development can accommodate all variations of the economic, social and political environments in developing economies. The authors of this book analyse the changing role of the public sector in promoting socioeconomic development. They concentrate their study on the three major issues of macroeconomic management in development planning: market mechanisms, financial management and enterprise management, and the transfer and development of technology. Planning practitioners and scholars and students of economic development should find this book provides important theoretical insights, as well as the experiences of various countries in managing their economic progress.

Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Business Cycles with Equilibrium Indeterminacy discusses the main topics in this literature. Based on comprehensive surveys and the author's original research, this book explores sunspot-driven fluctuations in real business cycle models, multiple equilibria in endogenous growth models, and the stabilization effects of fiscal and monetary policy rules. The book also considers equilibrium indeterminacy in open economy models.

This book provides an investor-friendly presentation of the premises and applications of the quantitative finance models governing investment in one asset class of publicly traded stocks, specifically real estate investment trusts (REITs). The models provide highly advanced analytics for REIT investment, including: portfolio optimization using both historic and predictive return estimation; model backtesting; a complete spectrum of risk assessment and management tools with an emphasis on early warning systems, risk budgeting, estimating tail risk, and factor analysis; derivative valuation; and incorporating ESG ratings into REIT investment. These quantitative finance models are presented in a unified framework consistent with dynamic asset pricing (rational finance). Given its scope and practical orientation, this book will appeal to investors interested in portfolio optimization and innovative tools for investment risk assessment.

Take your first learning steps in the essential Principles of Economics and follow in the footsteps of all leading economists! Economics touches almost every aspect of life: from climate change to terrorism, taxes to house prices, and wages to how much time one spends studying! Economics 11th edition retains the hallmarks of previous editions, providing a detailed overview of the principles of economics, showcasing how economic theories apply to real-world data, recent events, and examples. Specific features such as 'Economics in Action' and 'Economics in the News' incorporate the latest developments in Eurozone and UK policy, including Brexit and the impact of COVID-19 on the economy. The text aims at helping you think like an economist, enabling you to evaluate economic policies, understand human behaviour, develop critical thinking skills and make more informed decisions. Take your first learning steps like all leading economists once did with a course in the principles of economics, and learn to think like an economist with this comprehensive text! Personalise learning with MyLab (R) Economics. By combining trusted author content with digital tools and a flexible platform, MyLab Economics personalises the learning experience and improves results for each student. Parkin, Powell & Matthews, Economics (European), 11th edition PLUS MyLab Economics with eText access card Pack (9781292424767) consists of: 9781292424750 Economics, 11e (print book) 9781292424774 MyLab Economics Instant Access Card 9781292424781 MyLab Economics eText Pearson, the world's learning company. NOTE: Before purchasing, check with your instructor to confirm the correct ISBN. Several versions of the MyLab (R) and Mastering (R) platforms exist for each title, and registrations are not transferable. To register for and use MyLab or Mastering, you may also need a Course ID, which your instructor will provide. If purchasing or renting from companies other than Pearson, the access codes for the MyLab platform may not be included, may be incorrect, or may be previously redeemed. Check with the seller before completing purchase.

This book introduces readers to a new approach to identifying stock market bubbles by using the illiquidity premium, a parameter derived by employing conic finance theory. Further, it shows how to develop the closed form formulas of the bid and ask prices of European options by using Black-Scholes and Kou models. By using the derived formulas and sliding windows technique, the book explains how to numerically calculate illiquidity premiums. The methods introduced here will enable readers interested in risk management, portfolio optimization and hedging in real-time to identify when asset prices are in a bubble state and when that bubble bursts. Moreover, the techniques discussed will allow them to accurately recognize periods of exuberance and panic, and to measure how different strategies work during these phases with respect to calmer periods of market behavior. A brief history of financial bubbles and an outlook on future developments serve to round out the coverage.

"The South African Economy, 1910-90" surveys the growth of the South African economy since 1910, when the four provinces came together to form the Union of South Africa. The theme of this book is the economic organization that made possible the growth of the South African economy which has contended with natural disasters, a backward but politically influential agricultural sector, a fixed gold price, the impact of two world wars and finally the constraints on growth imposed by the apartheid policies present since 1948. The book describes how the gold industry fuelled the growth of the economy and enabled the government to subsidise agriculture. The gold idustry, however, was a mixed blessing and since 1973 the dramatic rise in its price has not been accompanied by a boom in the growth rate. In fact it led to a marked deceleration in the rate of growth and triggered a burst of inflation that is still ravaging the South African economy. The affects on the economy of leaving the Commonwealth in 1961 are then examined, as this caused an industrial revolution that made South Africa the power house of Africa; but accompanying the industrial transformation was a population explosion that

Germany is clearly the dominant economic force in Europe. It occupies the pivotal position of being at the centre of both the EC and of attempts to rebuild the economies of East Central Europe. "The German Economy" traces German economic policy and growth from 1945 to the present. These include: the German economy in perspective; the regional dimension; fiscal policy; monetary policy; social policy; the labour market; banking and finance; and industry, trade and economic policy. In "The German Economy", Eric Owen Smith has produced a comprehensive account of contemporary German economy. Smith has also published "Trade Unions in the Developed Economies" (Croom Helm, 1981), and "The West German Economy" (Croom Helm, 1983), and edited, with Frick and Griffiths, "Third Party Involvement in Industrial Disputes: A Comparative Study of West Germany and Britain" (Avebury Press, 1988).

The Economic Survey is the budget document of the Government of India. It presents the state of affairs of the Indian economy. Economic Survey 2017-18 consists of two volumes. Volume 1 provides an analytical overview of the performance of the Indian economy during the financial year 2017-18. It highlights the long-term challenges facing the economy. Volume 2 is a descriptive review of the major sectors of the economy. It emphasizes economic reforms of contemporary relevance like GST, the investment saving slowdown, fiscal federalism and accountability, gender inequality, climate change and agriculture, science and technolog, among others.

This book brings together important essays by Richard F. Kahn, Keynes's pupil and literary executor and one of the most influential economists in the Cambridge tradition. The essays address issues, including imperfect competition, pricing mechanisms, inflation, unemployment, and the regulation of international trade and finance, that are highly relevant and topical They are addressed from a Keynesian perspective, with the interface between economic theory and policy explored. With the inclusion of a new introduction, the essays are placed in their own context and offer the key to understand their relevance for the present. Richard F. Kahn: Collected Economic Essays is a fitting companion to the 1972 collection of essays, edited by Kahn himself. It will be of interest to scholars and students as a key to an outstanding economist and a great figure in the Keynesian tradition.

Rich and informative case studies throughout bring this book to life for professionals and students alike. Written by one of the leading competitive experts in the world. Tackles a complex issues in a lively and engaging way.

This timely volume presents a critical analysis of the industrialization process in Malaysia, which has one of the fastest growing economies in Asia. Since 1987, Malaysia has experienced a sustained economic boom based on export-oriented manufacturing. The essays in "Industrializing Malaysia" consider Malaysia's experiences with foreign investment, technology transfers, free trade zones, industrial linkages, and labor flexibility in the manufacturing sector. The volume includes case studies of the Malaysian automobile, electronics, and textile industries.
Despite growing concerns over environmental damage and the sustainability of economic growth, many developing countries continue to associate industrialization with progress. By focusing on Malaysian industrialization, the essays in this volume assess the strengths and weaknesses of such an approach. The contributors, most of whom have served as consultants to the Malaysian government, suggest policy changes that would ensure more balanced, coherent, equitable, and sustainable industrialization under national auspices.
Contributors: Jomo K. S., Chris Edwards, Guy Standing, Anuwar Ali, Wong Poh Kam, Rajah Rasiah, Leslie O'Brien, Ashwani Saith, Anuwar Ali, David C. O'Connor, and S. Jayasankaran.

This volume contains papers prepared for the Bank of Japan's Seventh International Conference which explore the operational and institutional framework for effective monetary policy implementation against the background of recent developments in economics and central banking practice. Features important contributions from leading figures from academia, central banks, and international institutions. Essential reading for anyone interested in central banking or the conduct of monetary policy.

Examining the interactive relationship between the two main sources of growth, accumulation and technical change, this book describes and evaluates various explanations, from the vantage point of how economic agents' behaviour is specified. What is involved in the rational calculation behind the decision to invest and innovate? The book also makes a comparison of the different answers given to this question, from the early classics to recent new classical and new institutionalist models.

Major changes which have occurred since this book was first published have been included in this edition. In particular, the chapter on Germany has been substantially revised and now includes a separate section on easter Germany. The other five countries covered in the book have also witnessed changes in their business culture and these have been taken into consideration. This book examines the background to business practice in Europe of six major countries: Germany, France, Italy, the UK, Spain and the Netherlands. Each chapter tracks the commercial development of that country in the late 1970s, 1980s and early 1990s, focusing on the business environment, special features affecting business, and the response to the EC's single market. The business culture section in each is divided further into business and government, business and the economy, business and the law, business and finance, business and the labour market, business and trade unions and business training, education and development. The test is organized in such a manner to enable cross-referencing between countries, and maps have been included in the new edition.

The papers in this volume were presented in Budapest at the 20th Colloquium of the SociA(c)tA(c) Universitaire EuropA(c)enne de Recherches FinanciA]res (SUERF), arranged in association with the Robert Triffin-SzirAk Foundation. Each paper deals with a different aspect of the characteristics of and trends in corporate governance. The three main topics are: Corporate governance of financial institutions; Corporate governance as exerted by financial institutions; Financial instutions as participants in the transfer of corporate governance. A/LISTA The structure of financial markets and institutions has a significant impact on the ways in which the power to manage corporate resources is allocated. The relative roles of different types of owners and the legal framework within which they operate are currently in a state of flux throughout Europe. Financial integration in the European Union, the transition to open market economies in Central and Eastern Europe and privatization, have a profound effect on the behaviour and influence of different enterprises. This collection of papers demonstrates the range of aspects of corporate governance in a world characterized by rapid technological, political and institutional change which is currently concerning researchers and practitioners. The authors come from a wide number of countries and disciplines, and include people from leading banks and corporations, public officials and academics, providing different perspectives on corporate governance, financial markets and global convergence in eastern and western Europe. Their contributions will be of considerable interest to academics in the fields of finance and banking, monetary economics andmacro-economics, and also to professionals in banks, securities houses, corporate treasuries, pension funds, consultancies, law firms, central banks and regulatory bodies.

While research evaluation has achieved particular significance in the United Kingdom, there is growing interest and activity in this area among Scandanavian countries. Funded by the Swedish Council for Research in the Humanities and Social Sciences, this book is a product of the increasing recognition of the importance of evaluations. The principal aim of "Economics of Sweden" is to locate Swedish economic research in an international setting and from there, to identify the strengths and weaknesses of Swedish economics. Throughout, an effort has been made to relate to recent work on evaluation by developing a theoretical foundation for assessing the future of Swedish economic research. The authors have achieved this by maintaining close two-way contact with the profession and by combining different empirical methods. This has taken the form of continuous interaction with the economics profession in seminars and on site visits to various economics departments. Although the study is focused on Sweden the analysis should also be relevant to several other countries, particularly the other Nordic countries, Canada, Australia and Israel.

In contemporary shopping sites new modes of subjectivity, inter-personal relationships and models of social totality are being "tried on", "taken off" and "displayed" in much the same way that one might shop for clothes. These are not the modernist spaces of goal-directed individuals and utopian projects. Rather it is a space of carnivalesque inversions of the present order of things. The multiple masks of the postmodern person "who wears many hats" in different groups and surroundings form a veritable "dramatis personae". In such masks of the individual and the social world may be found a new spatialization and new intuitive perceptions of time and space. This representation of contemporary social life grows out of the work of Henri Lefebvre, Michel Maffesoli, Walter Benjamin and Mikhail Bakhtin. It is an attempt to take seriously the idea that we live in a postmodern consumer culture and to follow through the implications and possibilities of this idea. Cases are drawn from Britain, the United States, Canada, Australia, Japan and Singapore to illustrate the new intersections between people, mass culture and consumption.

This collection of essays presents insight and methodology that are highly relevant for readers today as they consider the future of the world they live in. Experiencing the COVID-19 pandemic, people have realized how fragile the current economy is and the necessity for reconstructing the socio-economic system. That system, which was considered the default for so long, was succeeded by the analytical framework of economics and regional science. The contents of this book are diversified, as are the achievements of Prof. Yasuhiro Sakai, to whom this volume is dedicated, and cover a wide area from mathematical and experimental economics to conventional and emerging fields of regional science. Some are timeless topics that have had new life breathed into them. Part I deals with, among other areas, risk management with uncertain events; the effectiveness and impacts of regulation and friction related to trading; the stability of strategic behavior and market equilibrium; and sustainable regional development and urban planning from the long-term perspective. Part II also presents a diversity of subjects, including input-output analysis and computable general equilibrium (CGE) modelling for internal as well as external structure and network linkage, such as a value chain; openness and creativity as related to competition among cities and regions; dispersion versus concentration; and inequality versus equality.

In a unique survey, based on new census data, "Geographic Perspectives on Soviet Central Asia" highlights the region's geographic, economic and ecological problems since 1945. Painting a grim picture, this book investigates how the combination of rapid population growth and declining per capita investment is causing economic conditions to slide in rural areas and encouraging an ecological catastrophe. The authors discuss the effects of low rural out-migration, and show that at current growth rates the rural working-age population will double with each generation. Unprecedented in a developed country, this is causing the region to become more rather than less rural. Soviet Central Asia is an area of low productivity, and the book considers the lack of support from Soviet central government to the region. Wishing to maximize their return to capital and labour, the government is concentrating its investment in the European West and directing insufficient funds for a growing workforce in Central Asia. Soviet Central Asia also faces grave ecological problems; the declining level of the Aral Sea, extensive soil salinization and water pollution. This book should be of interest to undergra

This book discusses the economic interaction and interdependence that has arisen amongst nations in the contemporary world economy, the nature and significance of the pattern of trade balances that have resulted from them and the question of what, if anything, should be done by national governments about that pattern. The need for international coordination of economic policies is also investigated.