Books in Macroeconomic and monetary economics

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.

Handbook of Monetary Economics vols 3A+3B Set

1st Edition
Volume 3
November 10, 2010
Benjamin M. Friedman + 1 more
English
eBook
9 7 8 0 4 4 4 5 3 4 7 1 2

How have monetary policies matured during the last decade? The recent downturn in economies worldwide have put monetary policies in a new spotlight. In addition to their investigations of new tools, models, and assumptions, they look carefully at 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. They also reexamine standard presumptions about the rationality of asset markets and other fundamentals. 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.

Multifractal Volatility

1st Edition
September 2, 2008
Laurent E. Calvet + 1 more
English
Hardback
9 7 8 0 1 2 1 5 0 0 1 3 9
eBook
9 7 8 0 0 8 0 5 5 9 9 6 4

Calvet and Fisher present a powerful, new technique for volatility forecasting that draws on insights from the use of multifractals in the natural sciences and mathematics and provides a unified treatment of the use of multifractal techniques in finance. A large existing literature (e.g., Engle, 1982; Rossi, 1995) models volatility as an average of past shocks, possibly with a noise component. This approach often has difficulty capturing sharp discontinuities and large changes in financial volatility. Their research has shown the advantages of modelling volatility as subject to abrupt regime changes of heterogeneous durations. Using the intuition that some economic phenomena are long-lasting while others are more transient, they permit regimes to have varying degrees of persistence. By drawing on insights from the use of multifractals in the natural sciences and mathematics, they show how to construct high-dimensional regime-switching models that are easy to estimate, and substantially outperform some of the best traditional forecasting models such as GARCH. The goal of Multifractal Volatility is to popularize the approach by presenting these exciting new developments to a wider audience. They emphasize both theoretical and empirical applications, beginning with a style that is easily accessible and intuitive in early chapters, and extending to the most rigorous continuous-time and equilibrium pricing formulations in final chapters.

The Institutional Economics of Market-Based Climate Policy

1st Edition
Volume 7
August 10, 2004
E. Woerdman
English
eBook
9 7 8 0 0 8 0 4 7 3 0 6 2

The objective of this book is to analyze the institutional barriers to implementing market-based climate policy, as well as to provide some opportunities to overcome them. The approach is that of institutional economics, with special emphasis on political transaction costs and path dependence.Instead of rejecting the neoclassical approach, this book uses it where fruitful and shows when and why it is necessary to employ a new or neo-institutionalist approach. The result is that equity is considered next to efficiency, that the evolution and possible lock-in of both formal and informal climate institutions are studied, and that attention is paid to the politics and law of economic instruments for climate policy, including some new empirical analyses.The research topics of this book include the set-up costs of a permit trading system, the risk that credit trading becomes locked-in, the potential legal problem of grandfathering in terms of actional subsidies under WTO law or state aid under EC law, and the changing attitudes of various European officials towards restricting the use of the Kyoto Mechanisms.

Inflation, Employment and Business Fluctuations

1st Edition
Volume 35C
November 16, 2000
Bozzano G Luisa
English
eBook
9 7 8 0 0 8 0 5 4 5 3 2 5

A Textbook on Macroeconomic Knowledge and Analysis

Handbook of Income Distribution

1st Edition
Volume 1
May 24, 2000
Anthony B. Atkinson + 1 more
English
Hardback
9 7 8 0 4 4 4 8 1 6 3 1 3

Distributional issues may not have always been among the main concerns of the economic profession. Today, in the beginning of the 2000s, the position is different. During the last quarter of a century, economic growth proved to be unsteady and rather slow on average. The situation of those at the bottom ceased to improve regularly as in the preceding fast growth and full-employment period. Europe has seen prolonged unemployment and there has been widening wage dispersion in a number of OECD countries. Rising affluence in rich countries coexists, in a number of such countries, with the persistence of poverty. As a consequence, it is difficult nowadays to think of an issue ranking high in the public economic debate without some strong explicit distributive implications. Monetary policy, fiscal policy, taxes, monetary or trade union, privatisation, price and competition regulation, the future of the Welfare State are all issues which are now often perceived as conflictual because of their strong redistributive content.Economists have responded quickly to the renewed general interest in distribution, and the contents of this Handbook are very different from those which would have been included had it been written ten or twenty years ago. It has now become common to have income distribution variables playing a pivotal role in economic models. The recent interest in the relationship between growth and distribution is a good example of this. The surge of political economy in the contemporary literature is also a route by which distribution is coming to re-occupy the place it deserves. Within economics itself, the development of models of imperfect information and informational asymmetries have not only provided a means of resolving the puzzle as to why identical workers get paid different amounts, but have also caused reconsideration of the efficiency of market outcomes. These models indicate that there may not necessarily be an efficiency/equity trade-off; it may be possible to make progress on both fronts.The introduction and subsequent 14 chapters of this Handbook cover in detail all these new developments, insisting at the same time on how they tie with the previous literature on income distribution. The overall perspective is intentionally broad. As with landscapes, adopting various points of view on a given issue may often be the only way of perceiving its essence or reality. Accordingly, income distribution issues in the various chapters of this volume are considered under their theoretical or their empirical side, under a normative or a positive angle, in connection with redistribution policy, in a micro or macro-economic context, in different institutional settings, at various point of space, in a historical or contemporaneous perspective. Specialized readers will go directly to the chapter dealing with the issue or using the approach they are interested in. For them, this Handbook will be a clear and sure reference. To more patient readers who will go through various chapters of this volume, this Handbook should provide the multi-faceted view that seems necessary for a deep understanding of most issues in the field of distribution.For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier....

Managing Currency Risk Using Foreign Exchange Options

1st Edition
March 29, 2000
Alan Hicks
English
eBook
9 7 8 1 8 4 5 6 9 2 1 1 7

Building on the success of his bestselling Foreign Exchange Options, Alan Hicks has produced this new and invaluable guide to the use of currency options for corporate treasurers and other financial executives. Setting the principal OTC instruments within the company’s risk management framework, he provides an authoritative guide to the characteristics, advantages and uses of currency options in the management and control of foreign exchange risk. Alan Hicks’ unique experience allows him to concentrate on the practical application of options as experienced in the real world of foreign exchange, illustrated by the use of case study material throughout the book.

Money and the Global Economy

1st Edition
October 5, 1998
Alexander Reed
English
eBook
9 7 8 1 8 5 5 7 3 9 1 5 4

In the global economy, goods, services, investments, loans, information and people move across national borders with growing freedom and rapidly increasing volumes. Each time such an individual event occurs, parts of two or more nation's moneys change ownership. This book describes the significance of these monetary exchanges, their mechanics, and how money itself affects these cross-border events.

Handbook of Monetary Economics

1st Edition
November 13, 1990
Benjamin M. Friedman + 1 more
English
Hardback
9 7 8 0 4 4 4 8 8 0 2 5 3

Due to the fundamental two-way interaction between the theoretical and the empirical aspects of monetary economics, together with the relationship of both to matters of public policy, any organization of material comprehensively spanning the subject is bound to be arbitrary. The 23 surveys commissioned for this Handbook have been arranged in a way that the editors feel reflects some of the most important logical divisions within the field and together they present a comprehensive account of the current state of the art. The Handbook is an indispensable reference work which should be part of every professional collection, and which makes ideal supplementary reading for graduate economics students on advanced courses.For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier....

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Books in Macroeconomic and monetary economics

Handbook of Monetary Economics 3A

Handbook of Monetary Economics

Handbook of Monetary Economics vols 3A+3B Set

Multifractal Volatility

The Institutional Economics of Market-Based Climate Policy

Inflation, Employment and Business Fluctuations

Handbook of Income Distribution

Managing Currency Risk Using Foreign Exchange Options

Money and the Global Economy

Handbook of Monetary Economics

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