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Books > Business & Economics > Economics > Macroeconomics > General
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 volume provides a careful account of the leading propositions
about the welfare gains associated with international trade and
investment under differing institutional arrangements and policy
choices. It concentrates on exploring two propositions which are
valid for economies of any size; the first being the assertion of
the gainfulness of free trade for a single free-trading country,
and a second, more general proposition about the welfare economics
of customs unions. Both the logic and implementability of these
propositions are assessed, as is their relevance to the formation
of commercial policy.
Murray c. Kemp is Research Professor of Economics at the University
of New South Wales, Australia. He has also taught at McGill
University and the Massachusetts Institute of Technology, USA.
Henry Y. Wan, Jr. is Research Professor of Economics at Cornell
University. He has also taught at the National Taiwan University,
University of California at Davis, USA and Fudan University, PRC.
Baumol's Cost Disease is the inevitable escalation of the real
costs that occur in labour-intensive industries like the arts,
health care and education. The labour costs in these industries
tend to increase at the same rate as other industries, but their
scope for utilizing labour-saving technical progress is either
small or non-existent.The book opens with an introduction by Ruth
Towse in which there is an overview of William Baumol's work. In
this discussion Ruth Towse examines Baumol's work in the context of
the development of the economics of the arts. The volume is then
divided into parts and begins by introducing William Baumol's work
through several autobiographical essays. This is followed by some
of his early contributions to cultural economics and the cost
disease. William Baumol's leading macroeconomic work on the
'unbalanced growth model' is also included and the debate about it
at its inception. In parts three and four some of the more
empirical papers on the arts are presented as well as essays on
policy implications for the arts. Following this are chapters on
the theatre and publishing as well as historical studies of the
arts and the implications of the cost disease for libraries, health
care and education. This book contains William Baumol's
contribution to cultural economics and spans over 30 years of
writing on the subject, much of which is not widely available. It
provides a real insight into the development of Baumol's analysis
and his perception of the problems of the arts and other
labour-intensive sectors.
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.
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.
This carefully edited selection of Robert Eisner's essays ties
together his authoritative contributions to economic analysis and
macroeconomic policy issues, particularly business, investment and
tax policy. He offers a trenchant analysis of the fundamental
issues of employment, investment and economic welfare in an
advanced market economy, offering a challenge to the conventional
wisdom on macroeconomic theory and policy.Professor Eisner first
examines the determinants of business investment and criticizes
neoclassical theories on investment. He goes on to assess the role
of tax incentives in investment and finds that tax policy is a
flawed way of attempting to encourage investment. He also analyses
national income accounting and offers some alternative measurements
for calculating national product. Professor Eisner then examines
the implications of war for the economy and explores the
macroeconomic consequences of disarmament including its possible
effects on unemployment. Lastly, he addresses the conflict between
economic policy and principle; particularly concerning the
environment, insurance and the theory of choice, academic freedom
and the elderly.
This book looks at East Asia's monetary and financial integration
from both Asian and European perspectives. It analyzes the Euro
area's framework for monetary policy implementation, introduced in
1999. It reviews the efforts to foster regional monetary and
financial integration and relates them to Europe's own evolution.
It highlights successes and failures in both cases and offers a
careful assessment of the state of play. A central theme of the
volume is that the East Asian reliance on markets is not enough to
promote the kind of deep integration that Europe has achieved and
that provides protection against exchange rate turbulence. The
implications of the recent global crisis are also examined.
Written by two of the foremost monetary experts on Asia and Europe,
this book will be an invaluable aid to students and academics
interested in the relevance of the European experience to the
debates about monetary integration in East Asia.
Societies, whether traditional or modern, experience tension
between spontaneity (individual freedom) and control (regulation).
Consequently, economies as a subsystem of society experience it
too. More specifically, they experience a tension between economic
individualism and economic collectivism, which in modern economies
revolves around the role of the state in the economy. Since the
collapse of communism, this tension has manifested itself not as a
tension between market capitalism and command socialism but as a
tension between the free market and the interventionist variants of
market capitalism. Although currently economic and political
liberalization is in evidence worldwide, not only in post-communist
societies, its outcome remains uncertain. Liberal democracy in the
sense of democratic politics and free-market economics has not
triumphed hitherto, and also its future is far from assured. The
end of history is not in sight.
This book deals with analysis of international finance and trade using a global macroeconomic model focused on Africa. Historical, econometric, as well as general and partial equilibrium analyses are creatively used both to explore finance and trade related issues in Africa, and to model the pattern that emerges from such exploration. The model developed is used for analysis of external shocks and domestic policy responses.
The United Nations is in a time of major crisis in the history of
the organization. The product of many leading scholars on both
sides of the Atlantic, this work examines whether out of the crisis
of mulitlateralism engulfing the organization in the late 1980s
there could arise a renewed and strengthened global body. Pursuing
the theme of the dynamics of international cooperation, thirteen
authors look at three principal issue-areas: the principal UN
organs, leading economic subjects, and leading social subjects. Two
distinguished American scholars provide concluding commentaries.
Running throughout the book is an emphasis on the economic
dimension to international politics.
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.
Presented to Margaret Hall by her friends and associates who have
known her at Oxford University, this book addresses some of the
major issues associated with competition in theory and practice.
The main feature of the book is a piece on privatization by a Nobel
prize winner in economics. Among other essays, Paul Samuelson
considers the theoretical underpinning of privatizing state assets.
Mary Gregory ponders on the possibility of co-operation rather than
competition between employer and worker and whether incomes
policies are likely to feature on a medium-term political agenda.
Growth patterns have changed radically over the last two decades,
to which capital and the labour markets appear to have failed to
adapt. Unemployment in Europe has been growing, almost without
remission, to levels unseen since the Great Depression. These facts
are somewhat at odds with the development of growth theory which
has mainly been orientated towards an equilibrium full employment
framework. The main message of equilibrium theory of fluctuations
was precisely that the policy maker is impotent. Now, with the
universal acceptance of endogenous growth theory, the common
concensus proposition would be `we are all neo-classical for the
short run and Keynesian for the long run' (investment being too
important for growth to be left entirely in private hands).
Nowhere is the historic global transformation creating a new
international context more striking than in East and South Asia.
Leading specialists here discuss key economic and political changes
within the region, and the impact of the Asian economic miracle on
global politics and international relations. Prospects for growth,
democracy and security are investigated in depth as well as their
implications for other powers in the post cold-war world.
The original theory of capital cost and capital structure put
forward by Nobel Prize Winners Modigliani and Miller has since been
modified by many authors, and this book discusses some of them. The
book's authors have created general theory of capital cost and
capital structure - the Brusov-Filatova-Orekhova (BFO) theory,
which generalizes the Modigliani-Miller theory to encompass
companies of an arbitrary age (and arbitrary lifetime). Despite the
availability of this more general theory, the classical
Modigliani-Miller theory is still widely used in practice. In this
book, the authors for the first time generalize it for cases of
practical relevance: for the case of variable profit; for the case
of advance tax-on-profit payments and interest on debt payments;
for the case of several tax-on-profit and interest on debt payments
per period; and for the combination of all three effects. These
generalizations lead to valuable theoretical results as well as
significantly widen of practical application this theory in
practice and increase of the quality of finance management of the
company. As well, the book investigates the applications of said
results in corporate finance, investments, taxation and ratings,
where employing a generalized Modigliani-Miller theory can be very
fruitful.
This book analyses the new strategic decisions of the European
Central Bank. Contributors from different fields examine especially
the sustainability strategy of the ECB: What role can the European
Central Bank play in fighting climate change? ECB President
Christine Lagarde has repeatedly confirmed that the central bank
wants to play a role in coping with climate change. What will this
role be? What instruments does the ECB have to make a difference in
challenges such as the defossilization of the economy and
transport, biodiversity, the energy transition, resource
consumption and other sustainability areas? Is it entitled or
obliged to go beyond the classic mandate of maintaining price
stability? The volume includes contributions from academics and
practitioners from the financial sector, civil society and
institutions involved at European level.
This volume discusses major macroeconomic policies and issues from
theoretical and practical perspective focusing on the link between
theory of macroeconomic management policy and its practice in the
last few decades. The topics selected here are of persistent
interest for those interested in economic policy - theorists and
policists.
The distinguished contributors in this volume provide a variety of
essays, which are written in honor of Emmanuel Drandakis. These
essays fall into four uniform areas of economics: economic growth,
general equilibrium, labor economics and game theory and
applications.The editors focus on a select set of issues that stand
high on the agenda of academic research. They provide fresh
insights and approaches to the analysis of these issues, and thus
open up wider avenues for our understanding of the dilemmas posed
for theory and policy. Readers are offered new empirical evidence
on such thorny social problems as, for example, unemployment, the
intergenerational transmission of human capital and the response of
wages to price and endowment changes. These contributions, in
conjunction with the realisation that the papers are written by
some of the most distinguished economists in the respective areas,
make the volume an attractive addition for all who are interested
in the contemporary research and teaching of economics.
Computable General Equilibrium (CGE) models have been widely used
for various economic simulations, such as, trade liberalization,
environmental problems, and regulatory and tax reforms. CGE models
are powerful but tend to be large-scale and, therefore, often
difficult to learn. This book provides a comprehensive A-to-Z guide
for CGE models. Focusing on its practical application, readers can
learn from the simplest CGE models, and proceed, in a step-by-step
manner, to database construction, programming for computation, and
developing more elaborated CGE models, which can be applied
empirically to actual simulation purposes. Particular emphasis is
placed on computer programs of CGE models. Readers can obtain
knowledge and skills from which they can develop and operate their
own CGE models, and apply them to their research. This book is
essential reading for all interested in computational economics,
advanced macroeconomics, international trade, regional development,
development economics.
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