Books in Macroeconomic and monetary economics

Handbook of Digital Currency

1st Edition
April 29, 2015
English
Hardback
9 7 8 0 1 2 8 0 2 1 1 7 0
eBook
9 7 8 0 1 2 8 0 2 3 5 1 8

Incorporating currencies, payment methods, and protocols that computers use to talk to each other, digital currencies are poised to grow in use and importance. The Handbook of Digital Currency gives readers a way to learn about subjects outside their specialties and provides authoritative background and tools for those whose primary source of information is journal articles. Taking a cross-country perspective, its comprehensive view of the field includes history, technicality, IT, finance, economics, legal, tax and regulatory environment. For those who come from different backgrounds with different questions in mind, The Handbook of Digital Currency is an essential starting point.

China’s Venture Capital Market

1st Edition
December 1, 2014
Lin Zhang
English
Hardback
9 7 8 0 8 5 7 0 9 4 5 0 6
eBook
9 7 8 0 8 5 7 0 9 4 5 1 3

The venture capital market in China has been developing for over twenty years. Over this period, the legal frameworks surrounding China’s venture capital have evolved significantly. China’s Venture Capital Market addresses this important topic and argues for further improvements in legal frameworks for venture capital in China. The book consists of five chapters, each covering an aspect of venture capital in China. The first chapter profiles the venture capital market. The second, third and fourth chapters consider the legal problems and suggest reform measures for fundraising in, operation of and exit from Chinese venture capital. The book concludes by asking how long it will take for reform measures to take place in China.

Applied Consumption Analysis

2nd Edition
Volume 5
July 14, 2014
L. Phlips
English
eBook
9 7 8 1 4 8 3 2 9 8 7 0 2

This volume links the abstract theory of demand with its econometric implementation. Exercises lead the reader from elementary utility maximization to the most sophisticated recent techniques, highlighting the main steps in the historical evolution of the subject. The first part presents a brief discussion of duality and flexible forms, and in particular of Deaton and Muellbauer's ``almost ideal demand system''. Part two includes the author's work on true wage indexes, and on intertemporal utility maximization.

Price Expectations in Rising Inflation

1st Edition
Volume 152
June 28, 2014
I. Visco
English
eBook
9 7 8 1 4 8 3 2 9 5 8 3 1

It is claimed in this book that expectations should not necessarily be treated as unobservable variables and that there is much to be learned from survey data. A unique data set is examined, the output of surveys conducted twice a year since 1952, among informed Italian businessmen and economic experts. The predictive accuracy, rationality and determinants of inflation expectations are investigated, following an extensive analysis of measurement issues.The estimate of inflation expectations are evaluated for both wholesale and consumer price changes, comparing them with those held by respondents to other surveys for different countries and with the forecasts generated by alternative predictors of the inflation process. The expectations considered in the study are shown to be remarkably accurate, anticipating all major price changes, even if during the years of high and rising inflation which have followed the first oil crisis they appear to underestimate on a number of occasions the inflation rates actually experienced, as the alternative predictors also do.An accurate testing of the rational expectations hypothesis is conducted, rejecting it over the entire sample period but not for the period of mild, but variable inflation which preceded the first oil crises.It is shown that a mixed adaptive-regressive model, with both error-learning and return-to-normality components adapts very well to the data considered in this study and that inflation expectations are also influenced by an uncertainty component which affects the adaptive coefficient. Furthermore, regression towards normality is slowed down when industrial capacity is utilized above normal, and vice-versa. Many other issues such as the dispersion of individual answers, the problems of aggregation and measurement error are also considered and an extensive bibliography of other works where use is made of direct information on expectations, is included.

Price Level Measurement

1st Edition
Volume 196
June 28, 2014
W.E. Diewert
English
eBook
9 7 8 1 4 8 3 2 9 5 8 4 8

Among the theoretical issues covered in this volume are the "economic" and the "axiomatic" or "test" approaches to the problem of constructing and choosing among alternative cost-of-living index formulas; "bounds" and "econometric" alternatives for developing empirically computable approximations of theoretically desirable indexes; recommendations concerning the incorporation of leisure time in measures of the cost-of-living; and the formulation of social and group cost-of-living indexes. The Jorgenson-Slesnick paper also presents a far-reaching empirical study of price changes in the U.S.The importance of this book to those with an interest in economic theory is obvious. However, this book also holds out the opportunity and challenge to applied researchers to gain a deeper understanding of the index numbers of which they make daily use.

The Structure of Earnings and the Measurement of Income Inequality in the U.S

1st Edition
Volume 184
June 28, 2014
Daniel J. Slottje
English
eBook
9 7 8 1 4 8 3 2 9 6 4 0 1

The various issues involved in measuring income inequality in the U.S. are analyzed in this book. In describing the level of inequality inherent in a particular graduation it is important which income recipient and which data set is used and also the measure of income inequality used as the appropriate summary statistic.Recent trends in labor markets are examined and the book attempts to trace the impact of these trends on the distribution of income for various age, race and occupational cohorts, and across states. Some new methods for analyzing inequality in a multidimensional framework are also discussed. This book provides one of the most comprehensive treatments of income inequality available to date.

Economic Modeling in the Nordic Countries

1st Edition
Volume 210
June 28, 2014
L. Bergman + 1 more
English
eBook
9 7 8 1 4 8 3 2 9 4 8 7 2

A selection of macroeconomic models used, or intended for, economic forecasting or policy analysis in the four Nordic countries (Denmark, Finland, Norway and Sweden), is presented in this volume. New features and model applications are discussed and the models used by the Ministries of Finance are evaluated, with special attention to the role of relative prices and their treatment of the supply side. In addition there is a systematic comparison of results from model simulations on the main macroeconomic models in the four Nordic countries. The papers fall naturally into two sections. In Part One the focus is on the short-to-medium term models; in Part Two the focus switches to a presentation of three models that may all be classified as applied general equilibrium (AGE) models.

Stabilization Policy in France and the Federal Republic of Germany

1st Edition
Volume 153
October 22, 2013
G. de Ménil + 1 more
English
eBook
9 7 8 1 4 8 3 2 9 0 7 7 5

The object of this book is to compare the macroeconomic characteristics of the French and German economies. It focusses on the effect of stabilization policy and of international disturbances and tries to find out the trade-offs of economic policy. The study is based on a simulation analysis using large-scale econometric models of the two countries. Instead of using models as black boxes the dynamic structures are compared in considerable detail. This entails decomposing the models into blocs of strategic sets of equations. Comparing bloc by bloc allows one to distinguish between the contribution of various economic processes (price-wage dynamics, monetary mechanism, multiplier-accelerat... interaction) to macroeconomic performance.Main features: Franco-German comparison of macroeconomic response to policy measures and international shocks; Evaluation of policy trade-offs; Detailed institutional and historical background to macro-policy in France and Germany.

Handbook of Monetary Economics 3A

1st Edition
Volume 3A
November 17, 2010
Benjamin M. Friedman + 1 more
English
Hardback
9 7 8 0 4 4 4 5 3 2 3 8 1
eBook
9 7 8 0 0 8 0 9 3 2 7 0 5

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.

Handbook of Monetary Economics

1st Edition
Volume 3B
November 16, 2010
Benjamin M. Friedman + 1 more
English
Hardback
9 7 8 0 4 4 4 5 3 4 5 4 5
eBook
9 7 8 0 4 4 4 5 3 4 5 5 2

What are the goals of monetary policy and how are they transmitted? Top scholars summarize recent evidence on the roles of money in the economy, the effects of information, 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.

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Consumption saving production employment and investment

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Macroeconomic and monetary economics general

Macroeconomic aspects of public finance macroeconomic policy and general outlook

Monetary policy central banking and the supply of money

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