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Books in Economics and finance

Our Economics and Finance titles are essential reading for students, scholars, policymakers, and market practitioners who want to stay up-to-date with the latest research and foundational topics in the field, from financial markets and trade to e-commerce, econometrics, quantiative investing, financial technology, financial engineering, global finance, corporate finance, law and economics, macro and microeconomics, and risk management.

Titles manage to balance quality of content with the increasing demand for a wider view of the vast array of topics in the field of Economics and Finance.

  • Arrow Impossibility Theorems

    • 1st Edition
    • May 10, 2014
    • Jerry S. Kelly
    • Karl Shell
    • English
    Arrow Impossibility Theorems is a 10-chapter text that describes existing impossibility theorems. This book explores a number of formalizations of ethical constraints of the theorems. After an introduction to the framework and notation for Arrow impossibility theorems, this book goes on discussing some concepts and an apparatus of relations among those concepts which are important for the theorems. Other chapters present some impossibility results that serve to point out serious difficulties in some plausible escape routes from the theorems of earlier chapters. The final chapter describes important areas of research that have arisen in the collective choice field in the transition away from studying the conditions of Arrow's theorem alone to the totality of all impossibility theorems. This book is intended primarily for economists.

  • Economics and Operational Research

    • 1st Edition
    • May 10, 2014
    • M. H. Beilby
    • English
    Economics and Operational Research explores the possible connections of the organization of human and material resources by concentrating on the interpretations of management decisions at various levels in the economy. This book discusses economics and mathematics as an analytical tool. Organized into 10 chapters, this book begins with an overview of how consumers manage their own budgets and how manufacturers select their production processes. This text then described generally how consumers and producers react to each other. Other chapters consider the problem of the transportation of goods through busy road networks and the efficiency attained through central planning. This book discusses as well the control of congestion that arises through decentralization and the construction of an overall planning model. The final chapter discusses the important aspects of national planning, wherein the collection of all consumers and producers makes up one large economic system. This book is a valuable resource for management and engineering personnel.

  • Seasonality in Regression

    • 1st Edition
    • May 10, 2014
    • Svend Hylleberg
    • Karl Shell
    • English
    Seasonality in Regression presents the problems of seasonality in economic regression models. This book discusses the procedures that may have application in practical econometric work. Organized into eight chapters, this book begins with an overview of the tremendous increase in the computational capabilities made by the development of the electronic computer that has profound implications for the way seasonality is handled by economists. This text then examines some seasonal models and their characteristics. Other chapters consider the most frequently applied evaluation criteria and appraise the values in the applications. This book discusses as well the frequency domain estimators and provides insight into problems of estimating the disturbance–covarian... matrix through the use of the disturbance spectrum. The final chapter deals with the main objective of the treatment of personality to formulate and estimate econometric models. This book is a valuable resource for economists and econometricians who have knowledge of econometrics at an advanced undergraduate or graduate level.

  • Money, Banking, and Economic Activity

    • 1st Edition
    • May 10, 2014
    • Gail E. Makinen
    • English
    Money, Banking, and Economic Activity focuses on the use of macro- and microeconomic theory in the analysis of the interrelations of money, banking, and economic activity. The book first underscores the importance and definition of money and financial intermediaries. Discussions focus on financial intermediaries and risk reduction, ability of intermediaries to decrease their own risks, effect of inflation on credit monies, and empirical definition of money. The text then examines the supply of money and the economic role of nonmoney-creating financial intermediaries, including thrift institutions and monetary policy, federal funds and repurchase agreements, monetary analysis and the place of thrift institutions, and developments altering the functions of financial intermediaries. The publication takes a look at the evolution of the international monetary system, money in an open economy, electronic fund transfers, and the Gibson paradox and the term structure of interest rates. Topics include level of interest rates, importance of theories of the term structure, market structure of financial institutions, theory of the supply of money, and foreign exchanges and the balance of payments. The manuscript is a valuable source of data for researchers interested in the interrelations of money, banking, and economic activity.

  • Methodology of Economics and Other Social Sciences

    • 1st Edition
    • May 10, 2014
    • Fritz Machlup
    • Karl Shell
    • English
    Methodology of Economics and Other Social Sciences covers the problems in the methodological aspects of economics and other social science disciplines. This book is organized into seven parts encompassing 26 chapters. The first parts review the nature and significance of methodology of economics, along with the models and theories in the field. The succeeding parts deal with the verification problems, operational concepts, and interpretation of reality in economics. Other parts explore the methodological aspects of other social sciences. The last parts discuss some aspects and applications of economic methodologies. This book will be of value to economists, social scientists, and researchers.

  • Studies in Macroeconomic Theory

    Employment and Inflation
    • 1st Edition
    • May 10, 2014
    • Edmund S. Phelps
    • Karl Shell
    • English
    Studies in Macroeconomic Theory, Volume 1: Employment and Inflation is a collection of scholarly papers that accounts the development of a microeconomic theory of wage and price decisions and commitments. The book presents some features of the modern inflationary process and makes sense of some still accepted elements in the postclassical macroeconomics of Keynes and Phillips. The papers in this volume are grouped into seven sections. Part I describes disequilibrium models of employment. Part II gives closer scrutiny to the idea of the "natural" rate of unemployment. Part III studies the welfare economics of inflation in an equilibrium context. The fourth part deals with inflation planning. The papers in Part V discuss hypotheses about the causes of the rise in the rate of inflation in two historical episodes: the American inflation between 1955 - 1957 and 1972 - 1974. Part VI addresses some questions in the theory of economic stabilization by monetary and fiscal policy. The final section of this volume attempts to apply to matters of stochastic social choice, stabilization policy being one instance of such a choice, the conception of justice advanced by Rawls. The compendium will be of value to economists and economic policy makers.

  • Distributional Consequences of Direct Foreign Investment

    • 1st Edition
    • May 10, 2014
    • Robert H. Frank + 1 more
    • Karl Shell
    • English
    Distributional Consequences of Direct Foreign Investment examines the net effect of direct foreign investment (DFI) on both U.S. employment demand in the short run and on the level and distribution of domestic income in the long run. Topics covered range from measurement of home-foreign substitution to the employment impact of DFI and the long-run distributional consequences of overseas investment. Short-run labor market adjustments to unemployment resulting from overseas production transfers are also discussed. Comprised of nine chapters, this volume begins with a survey of existing studies of the DFI phenomenon that critically evaluates the question of what firms would or could have done in the absence of a DFI alternative. The reader is then introduced to an alternative framework within which to estimate the degree of substitutability of home for foreign production. This framework consists of a microeconomic model of the multinational firm as it operates under two alternative policy regimes, one of which places no restrictions on the firm's activities and the second denies it the option of establishing a foreign production subsidiary. Input-output techniques, together with information on substitutability, are used to obtain estimates of the net employment impact of DFI. A probabilistic model of an industry labor market is also presented. In addition, the book analyzes the effect of technology transfer through licensing on the size and composition of domestic income. This monograph will be useful to practitioners who employ econometrics and mathematical economics.

  • Portfolio Theory

    With Application to Bank Asset Management
    • 1st Edition
    • May 10, 2014
    • Giorgio P. Szegö
    • Karl Shell
    • English
    Portfolio Theory: With Application to Bank Asset Management provides information pertinent to the fundamental aspects of the management of bank assets and liabilities. This book presents the mean-variance approach to obtain many analytical results and a complete insight into the portfolio selection problem. Organized into 16 chapters, this book begins with an overview of the formalization of decision-making under uncertainty. This text then presents the construction and complete analysis of a Markowitz-type portfolio selection model. Other chapters consider the problems of portfolio selection in an inflationary or multicurrency environment. This book discusses as well an approximate technique for constructing a diagonal model at the cost of increasing by one the number of investments and the number of constraints. The final chapter deals with the study of the portfolio selection problem and to the analysis of the properties of the efficient set of the mean variance criterion. This book is a valuable resource for economists.

  • The Regulatory Process and Labor Earnings

    • 1st Edition
    • May 10, 2014
    • Ronald G. Ehrenberg
    • Richard B. Freeman
    • English
    The Regulatory Process and Labor Earnings focuses on one form of government intervention in the marketplace—state regulation of public utilities. This book provides the most comprehensive study of labor costs in a regulated industry and includes a summary of a major econometric study. This text addresses a number of related issues, such as the effect of regulatory process to the structure of collective bargaining and labor earnings in regulated industries, legal rights of state utility commissions to deny proposed rate increases that are based on excessive upturns in labor cost, and incentive schemes that can be used to encourage public utilities to hold down labor and non-labor cost increases. This publication is a good reference for students and individuals involved in the regulatory process.

  • Developments in Japanese Economics

    • 1st Edition
    • May 10, 2014
    • Ryuzo Sato + 1 more
    • English
    Developments in Japanese Economics provides information pertinent to the fundamental aspects of the developments in Japanese economics. This book presents the process innovative aspect of Japanese science and technology. Organized into three parts encompassing 12 chapters, this book begins with an overview of the heterogeneous capital goods model that is stable even with an infinitely short forecast. This text then emphasizes that the changes in capital accumulation are relevant for economic growth and decline. Other chapters consider the examples of how Japanese economists apply theory to empirical endeavors. This book discusses as well the durable capital stock of the Japanese manufacturing industries. The final chapter attempts to investigate the validity of the theory of self-dual demand functions, which can be integrated into consumer's utility function, by using both Japanese and U.S. data. This book is a valuable resource for economists, sociologists, political scientists, financial historians, statisticians, and research workers.

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