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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.

  • Migration and Economic Growth in the United States

    National, Regional, and Metropolitan Perspectives
    • 1st Edition
    • Michael J. Greenwood
    • Edwin S. Mills
    • English
    Migration and Economic Growth in the United States: National, Regional, and Metropolitan Perspectives describes the post-World-War-II behavior of selected variables that explains the evolution of urban size and composition in the United States. This book is organized into nine chapters. Chapter 1 provides a brief historical overview of the urbanization process in the United States. In Chapters 2 and 3, certain national forces that shape the spatial distribution of population and economic activity during the postwar period are deliberated. Chapters 4 and 5 elaborate the behavior of the central cities and suburban rings of 62 major metropolitan areas. A model of metropolitan growth is dealt with in Chapter 6, followed by an evaluation of estimates of the model from 1950 to 1970 in Chapter 7. Chapter 8 covers a model of intrametropolitan location of employment, housing, and labor force. The last chapter elaborates the employment policy implications of population redistribution in the United States. This publication is beneficial to economists and specialists concerned with migration and economic growth in the United States.

  • Contributions to Modern Economics

    • 1st Edition
    • Joan Robinson
    • English
    Contributions to Modern Economics includes contributions to two great intellectual upheavals in economic theory: the Keynesian Revolution and the revival of the classical theory of profits led by Piero Sraffa. The formation of prices in capitalist and socialist economies and of international trade is also discussed. The evolution of these ideas is linked to the personal and historical events that influenced them. Comprised of 24 chapters, this book begins by describing the second crisis of economic theory, which is related to the first crisis — the great slump of the 1930s. The reader is then introduced to the theory of money and the analysis of output; obstacles to full employment; and the concept of hoarding. Subsequent chapters explore capital, profits, and prices, with emphasis on the theory of capital, imperfect competition, and the theory of value. International trade, capitalism, and beggar-my-neighbor remedies for unemployment are also examined. This monograph should be of interest to economists.

  • The Regulatory Process and Labor Earnings

    • 1st Edition
    • 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.

  • Chinese Economic Reform

    How Far, How Fast?
    • 1st Edition
    • Bruce L. Reynolds
    • English
    Chinese Economic Reform: How Far, How Fast? focuses on China's economic reform and tackles topics ranging from the reformed price system and the macroeconomic mechanism to the dual pricing system in industry. The rapid growth in money income and government deficit is also examined, along with the relationship between price level, money supply, and GNP. Agricultural reform and the shortcomings of China's banking system as a tool for monetary control are considered as well. Comprised of 17 chapters, this book begins with an analysis of the impact of the two-tier plan/market system on the Chinese industry, followed by a discussion on the dual pricing system in the industry and money and price level determination in China. The reader is then introduced to China's macroeconomic policy and how it has been influenced by the reform process; money and the consumption goods market; and issues in the structural reform of agriculture. Subsequent chapters focus on the banking system; economic policy and income distribution; trade, employment, and inequality in post-reform China; and the stock-share system as an avenue for reforming the Chinese economy. Economic liberalization in China is also compared with that in India. This monograph will be of interest to economists and economic policymakers.

  • Trade, Stability, and Macroeconomics

    Essays in Honor of Lloyd A. Metzler
    • 1st Edition
    • George Horwich + 1 more
    • English
    Trade, Stability, and Macroeconomics: Essays in Honor of Lloyd A. Metzler provides information pertinent to the fundamental aspects of trade, stability, and macroeconomics. This book covers a variety of topics, including nontraded and intermediate commodities, prices, production, exchange rates, and wages. Organized into five parts encompassing 22 chapters, this book begins with an overview of the theory of international trade and the effect of a tariff or export tax on domestic prices. This text then defines the supply of the international commodities as a function of their prices and of the output of the domestic commodity. Other chapters consider the Stolper–Samuelson analysis of the effects of protection of the distribution of income. This book discusses as well the theory of external–internal balance or the assignment problem as related to macroeconomic policy in an open economy. The final chapter deals with the dynamic allocation of scarce resources. This book is a valuable resource for economists.

  • International Economics and Development

    Essays in Honor of Raúl Prebisch
    • 1st Edition
    • Luis Eugenio Di Marco
    • English
    International Economics and Development: Essays in Honor of Raúl Prebisch provides information pertinent to the developments in the field of international economies as it relates to the problems of the underdeveloped countries. This book provides a brief biography of Professor Raúl Prebisch and his many contributions to international economics. Organized into eight parts encompassing 22 chapters, this book begins with an overview of the influence of Prebisch on Latin American international development policy. This text then examines the problem that has always been of real concern to the U.N. since the creation of the organization, namely, the social and economic development of underdeveloped countries. Other chapters consider the problem of economic development of the countries newly involved in the process of growth. This book discusses as well the relationship between stability conditions of real and monetary models of international trade. The final chapter deals with the characteristics of underdevelopment. This book is a valuable resource for economists.

  • Foundations of Decision Support Systems

    • 1st Edition
    • Robert H. Bonczek + 2 more
    • J. William Schmidt
    • English
    Foundations of Decision Support Systems focuses on the frameworks, strategies, and techniques involved in decision support systems (DSS). The publication first takes a look at information processing, decision making, and decision support; frameworks for organizational information processing and decision making; and representative decision support systems. Discussions focus on classification scheme for DSS, abilities required for decision making, division of information-processi... labor within an organization, and decision support. The text then elaborates on ideas in decision support, formalizations of purposive systems, and conceptual and operational constructs for building a data base knowledge system. The book takes a look at building a data base knowledge system, language systems for data base knowledge systems, and problem-processing systems for data base knowledge systems. Topics include problem processors for computationally oriented DSS, major varieties of logical data structures, and indirect associations among concepts. The manuscript also examines operationalizing modeling knowledge in terms of predicate calculus; combining the data base and formal logic approaches; and the language and knowledge systems of a DSS based on formal logic. The publication is a valuable reference for researchers interested in decision support systems.

  • Capital and Employment

    A Study of Keynes's Economics
    • 1st Edition
    • Murray Milgate
    • John Eatwell
    • English
    Studies in Political Economy: Capital and Employment: A Study of Keynes's Economics focuses on the inquiry into Keynesian economics, particularly the relationship of capital and employment. The publication first underscores the contemporary position of 'Keynesian' economics, traditional long-period method of economic analysis, and theoretical systems and the long-period method. Discussions focus on the structure of classical economic theory, structure of marginalist economic theory, and the traditional long-period method of economic analysis. The text then ponders on the analysis of deviations from long-period positions, principle of effective demand, and the theory of capital and theory of employment. Topics include Keynes on the 'classical' theory of interest, capital and employment, inflexibility of money-wages, long-period theory of output and employment, and principle of effective demand. The book takes a look at the theoretical system of the treatise versus the general theory and the method of analysis in the treatise and the general theory, including the conceptual framework of the treatise on money and general theory and the natural rate of interest and level of employment. The publication is a valuable reference for economists and researchers interested in the relationship of capital and employment.

  • The Economic Theory of Price Indices

    Two Essays on the Effects of Taste, Quality, and Technological Change
    • 1st Edition
    • Franklin M. Fisher + 1 more
    • Karl Shell
    • English
    The Economic Theory of Price Indices: Two Essays on the Effects of Taste, Quality, and Technological Change is concerned with the effects of consumer taste, product quality, and technological change on price indices. Special attention is paid on technological change in the simple two-sector production model of Rybczynski and Uzawa. The effects of the general case of changing factor supplies and factor-augmenting change on the real national output deflator are also examined. Comprised of two essays, this book begins with an analysis of the pure theory of the true cost-of-living index, which may be considered as an idealization of indices like the consumer price index and others of that type. The essay explores how the true cost-of-living index is affected by changes in consumer taste, quality changes in purchased goods, and the introduction of new goods into the market place. The second essay deals with the pure theory of the national output deflator and provides a foundation for the measurement of real national output (or product). It shows that the usual inequalities relating Paasche and Laspeyres to the true index are reversed (from what they are in cost-of-living theory) for the case of production. It also assesses the implications of changing production possibilities caused by technological change or a change in factor supplies. This monograph will be a useful resource for mathematicians, economists, and others interested in economic theory and mathematical economics.

  • Econometric Analysis of Regional Systems

    Explorations in Model Building and Policy Analysis
    • 1st Edition
    • Norman J. Glickman
    • Edwin S. Mills
    • English
    Econometric Analysis of Regional Systems: Explorations in Model Building and Policy Analysis provides information pertinent to the use of regional econometric models for forecasting and policy analysis. This book presents macroeconomic forecasting for metropolitan regions. Organized into five chapters, this book begins with an overview of the problem of forecasting regional economic activity. This text then analyzes the principal types, economic base, input–output, and econometric of the regional economic models. Other chapters consider a large-scale econometric model for the Philadelphia region based on time series data to make forecasts for output, employment, prices, wages, income, economic activity, and other economic aggregates. This book discusses as well the types of forecasting models used in regional analysis. The final chapter deals with econometric techniques to bear on the problem of regional economic forecasting. This book is a valuable resource for economists, local policy makers, and government officials.

  • Foundations of Supply-Side Economics

    Theory and Evidence
    • 1st Edition
    • Victor A. Canto + 2 more
    • English
    Foundations of Supply-Side Economics: Theory and Evidence is composed of a series of papers containing both theoretical and empirical analyses of a set of issues in government fiscal policy. The type of analysis employed in the book is standard neoclassical economics, and this analysis is used to study the macroeconomic incentive effects of taxation. The book contains contributions that cover the analysis of the effects of taxes imposed purely for generating revenues; the process of capital formation; and an attempt to integrate supply-side analysis into a traditional macroeconomic framework. Reports on the empirical evidence on taxation and economic activity and the estimation of a small macroeconomic model of the United States for the postwar period; description of a method of calculating effective marginal tax rates on factor incomes using available U.S. data; and the estimation of the effect of fiscal policy on private investment in plant and equipment are presented as well. Economists will find the book highly insightful.

  • Forecasting in Business and Economics

    • 1st Edition
    • C. W. J. Granger
    • English
    Forecasting in Business and Economics presents a variety of forecasting techniques and problems. This book discusses the importance of the selection of a relevant information set. Organized into 12 chapters, this book begins with an overview of the forecasting techniques that are useful in decision making. This text then discusses the difficulties in interpreting an apparent trend and discusses its implications. Other chapters consider how a time series is analyzed and forecast by discussing the methods by which a series can be generated. This book discusses as well the views of most academic time series analysts regarding the usefulness of searches for cycles in most economic and business series. The final chapter deals with the techniques developed for forecasting. This book is a valuable resource for senior undergraduates in business, economics, commerce, and management. Graduate students in operations research and production engineering will also find this book extremely useful.

  • Noncooperative Approaches to the Theory of Perfect Competition

    • 1st Edition
    • Andreu Mas-Colell
    • English
    Economic Theory, Econometrics, and Mathematical Economics: A Series of Monographs and Textbooks: Noncooperative Approaches to the Theory of Perfect Competition focuses on the application of noncooperative approaches to the theory of perfect competition, including Cournot game, no-surplus condition, and Nash equilibria. The selection first elaborates on collusive behavior in noncooperative epsilon-equilibria of oligopolies with long but finite lives and noncooperative price taking in large dynamic markets. Discussions focus on noncooperative equilibria which support the monopoly allocation, alternative definition of perfect epsilon-equilibrium, one-period Cournot game, fixed-demand case, and replication case. The book takes a look at noncooperative price taking in large dynamic markets, no-surplus condition as a characterization of perfectly competitive equilibrium, perfect competition, profit criterion, and the organization of economic activity. Topics include profits to individually improving welfare, structure of firms, competitive allocations as no surplus allocations, profits as rents, Walrasian and perfectly competitive equilibrium, and no-surplus and core equivalence as alternative characterizations of perfectly competitive equilibrium. The manuscript ponders on Nash equilibria of market games and efficiency properties of strategic market games, as well as commodities, agents, assignments, strategic markets games, proper and full Cournot-Nash equilibria, and finiteness and inefficiency. The selection is a valuable source of data for researchers interested in noncooperative approaches to the theory of perfect competition.

  • The Hamiltonian Approach to Dynamic Economics

    • 1st Edition
    • David Cass + 1 more
    • English
    The Hamiltonian Approach to Dynamic Economics focuses on the application of the Hamiltonian approach to dynamic economics and attempts to provide some unification of the theory of heterogeneous capital. Emphasis is placed on the stability of long-run steady-state equilibrium in models of heterogeneous capital accumulation. Generalizations of the Samuelson-Scheinkman approach are also given. Moreover, conditions are sought on the geometry of the Hamiltonian function (that is, on static technology) that suffice to preserve under (not necessarily small) perturbation the basic properties of the Hamiltonian dynamical system. Comprised of eight essays, this book begins with an introduction to Hamiltonian dynamics in economics, followed by a discussion on optimal steady states of n-sector growth models when utility is discounted. Optimal growth and decentralized or descriptive growth models in both continuous and discrete time are treated as applications of Hamiltonian dynamics. Theproblem of optimal growth with zero discounting is considered, with emphasis on a steepness condition on the Hamiltonian function. The general problem of decentralized growth with instantaneously adjusted expectations about price changes is also analyzed, along with the global asymptotic stability of optimal control systems with applications to the theory of economic growth. This monograph will be of value to mathematicians and economists.

  • General Equilibrium, Growth, and Trade

    Essays in Honor of Lionel McKenzie
    • 1st Edition
    • Jerry R. Green + 1 more
    • English
    General Equilibrium, Growth, and Trade: Essays in Honor of Lionel McKenzie provides information pertinent to the three main areas of Professor McKenzie's scientific research, namely, international trade, economic growth, and general equilibrium theory. This book highlights the main aspects of McKenzie's work. Organized into three parts encompassing 21 chapters, this book begins with an overview of the regularizing effects of aggregation over nonregular microrelations. This text then examines the theory of a multiperiod monopolist incurring nonseparable labor adjustment costs, which is developed when investment is irreversible. Other chapters consider the behavior of a price-maker in a competitive market as a preliminary step to a more complete analysis of pure competition. This book discusses as well the effects of uncertainty on optimal decisions, which constitutes an increasingly essential area of economic research. The final chapter deals with the general equilibrium macroeconomic model. This book is a valuable resource for economists and economic theorists.

  • Economics and Operational Research

    • 1st Edition
    • 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.

  • The Economics of Neighborhood

    Studies in Urban Economics
    • 1st Edition
    • David S. Segal
    • English
    The Economics of Neighborhood integrates neighborhood into contemporary notions of the urban economy. Neighborhood is viewed as a good with demand, supply, and equilibrium aspects. Topics covered range from demand for neighborhood and interneighborhood mobility to neighborhood choice and transportation services. The role of governments as suppliers of neighborhoods is also considered. Comprised of 12 chapters, this book begins with an introduction to some of the efforts to measure neighborhood effects and the approaches used in analyzing the role of neighborhood in the urban economy. The next section deals with the determinants of neighborhood demand in different eastern and midwestern cities in the United States in the mid- to late 1960s. The location choice of a sample of Pittsburgh households is examined, along with the role that neighborhood transition at the origin played in governing the decision to move or stay put. Subsequent chapters focus on the neighborhood choice of households already living in Washington, D.C., in 1968 as a joint prior choice of residential location, housing type, automobile ownership, and mode of travel to work; how the supply of certain kinds of neighborhoods can be determined by the interaction of residential demand and housing supply in the private sector; and optimum neighborhood supply by local governments. The concluding section analyzes neighborhood in an equilibrium setting, with emphasis on price outcomes and the quantity aspects of neighborhood. This monograph will be of value to economists as well as to researchers and students interested in urban economics.

  • Introductory Economics

    • 1st Edition
    • Michael Veseth
    • English
    Introductory Economics deals with the national economy as a whole—macroeconomics... in terms of inflation and unemployment. The book also discusses individual economic decision-makers—micr... in view of the problems of scarcity and choice. Macroeconomics uses the market model of demand and supply as a tool to analyze the causes of, and present some cures for modern economic ailments. The text examines the economics of government fiscal policies with the framework of an aggregate demand and supply model. The book compares monetary policy and fiscal policy, explains the monetarist model of economic activity, and also investigates the roles of money, credit, interest rates. These economic activities have international consequences such as in trade, exchange rates, and on prevailing and future national economic policies. In microeconomics, the book focuses on the economics of exchange, the market mechanisms that increase the gains from trade, and the problems of choice facing consumers and producers in a competitive market. The text also tackles the problems found in resource markets (labor, natural resources, energy), in market failure, as well as analyzes the role of government. Economists, sociologists, students of economics or business, general readers interested in real-world economics, and policy makers involved in national economic development will find the book valuable.

  • Microeconomics

    A Modern Treatment
    • 1st Edition
    • R. Shone
    • Karl Shell
    • English
    Microeconomics: A Modern Treatment focuses on modern approaches to microeconomics. Alternative systems are discussed including input-output analysis as against neoclassical production theory. The theory of choice and the preference and utility approaches to consumer theory are also considered, along with linear and nonlinear theories of production, the theory of market demand and supply, and welfare economics. Comprised of 11 chapters, this book begins with an introduction to economic science and its propositions, as well as the importance of establishing a clearly defined set of postulates on which the whole edifice of economic knowledge rests. The discussion then turns to the theory of choice and the preference and utility approaches to consumer theory; neoclassical as opposed to modern consumer choice; production theory and the production set of the economy; and the theory of market demand and supply. Subsequent chapters deal with the theory of exchange and general equilibrium; welfare economics; and stability and introductory dynamics. This monograph will be of value to economists and those interested in microeconomics.

  • Economics and Human Welfare

    Essays in Honor of Tibor Scitovsky
    • 1st Edition
    • Michael J. Boskin
    • English
    Economic Theory, Econometrics, and Mathematical Economics: Economics and Human Welfare: Essays in Honor of Tibor Scitovsky focuses on the principles, influence, and contributions of Tibor Scitovsky on economics. The selection first elaborates on welfare economics and microeconomic theory, property rights doctrine and demand revelation under incomplete information, and experiments in the pricing of theater tickets. Discussions focus on the effect on audience composition, volume, and revenues, failure of bargaining under privacy, growing disenchantment with economic growth, and bargaining as a game of incomplete information. The text then takes a look at economics and the transformation of the idea of progress and changes in the size distribution of income. The text ponders on welfare criteria, distribution, and cost- benefit analysis; position of ethics in the theory of production; and rationing and price as methods of restricting demand for specific products. Topics include excise taxation with revenue distributed like rations; private and social returns to morality; effect of changes in the cost of organization and communication; and logical and historical foundation of the theory of the welfare state. The selection is highly recommended for economists and researchers interested in pursuing studies on the relationship of economics and human welfare.

  • Economic Structure and Performance

    • 1st Edition
    • Hollis B. Chenery
    • Moshe Syrquin + 2 more
    • English
    Economic Structure and Performance: Essays in Honor of Hollis B. Chenery briefly reviews the work of Hollis Chenery in the field of economics. This book discusses the underlying themes in Chenery's work, including structure, strategy, adjustment, and models. Organized into four parts encompassing 26 chapters, this book begins with an overview of the patterns of structural change and their relation to growth. This text then examines the objectives, measures, and implementation of policy, as well as administrative capabilities and cultural characteristics. Other chapters compare Chenery's econometric analysis of development patterns with the historical analyses and suggest that the two approaches complement each other. This book discusses as well the persistence of disequilibrium in segments of the economy. The final chapter deals with simple criteria for detecting critical interdependencies and a formula for measuring their welfare consequences. This book is a valuable resource for economists, industrialists, foreign capitalists, and social scientists.

  • The Economics of Housing Vouchers

    • 1st Edition
    • Joseph H. Friedman + 1 more
    • English
    The Economics of Housing Vouchers is a seven-chapter text that examines the housing choices of low-income families in two metropolitan areas, namely, Phoenix and Pittsburgh. Some of these households are offered a novel kind of housing subsidy, including a housing allowance or housing voucher, in an experimental framework designed to test this approach to demand-side housing assistance. Chapter 1 presents an overview of U.S. housing programs and the dimensions of the U.S. housing problem. Chapter 2 provides a simple microeconomic model that conceptualizes household behavior, as well as a summary of some of the extant evidence on housing demand. This chapter also estimates the housing demand models for the low-income population in the Demand Experiment, using housing expenditures to measure housing. Chapter 3 applies a hedonic index of housing services that abstracts from particular characteristics of the household or landlord that may affect rent and attempts to measure housing in a more objective manner. Chapter 4 describes a model of household behavior that leads to the methodology for estimating experimental effects. Chapter 5 repeats the analysis for Minimum Rent households, while Chapter 6 examines the effect of both kinds of Housing Gap allowance payment on the consumption of housing services. Lastly, Chapter 7 focuses on the implications of the experimental findings for housing policy. This chapter compares a housing allowance strategy with two other approaches, namely, a pure income-transfer approach and a construction-oriente... approach. This book is of value to workers in housing policy, including economists, regional and other social scientists in academia, housing analysts, the Congress, housing lobby groups, and state and local government housing officials.

  • Law and Economics of Vertical Integration and Control

    • 1st Edition
    • Roger D. Blair + 1 more
    • English
    Law and Economics of Vertical Integration and Control focuses on the processes, methodologies, and approaches involved in the law and economics of vertical integration and control. The publication first elaborates on transaction costs, fixed proportions and contractual alternatives, and variable proportions and contractual alternatives. Discussions focus on sales revenue royalties, ownership integration, output royalties, important product-specific services, successive monopoly, advantages and limitations of internal transfers, and transaction cost determinants. The text then examines vertical integration under uncertainty and vertical integration without contractual alternatives. The book ponders on legal treatment of ownership integration and per se illegal contractual controls. Topics include tying arrangements, public policy assessment, resale price maintenance, vertical integration and the Sherman Act, market foreclosure doctrine, and the 1982 Merger Guidelines. The text also takes a look at contractual controls that are not illegal per se, alternative legal rules, and antitrust policy. The publication is a dependable reference for researchers interested in the law and economics of vertical integration and control.

  • Portfolio Theory

    With Application to Bank Asset Management
    • 1st Edition
    • 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 Second Paycheck

    A Socioeconomic Analysis of Earnings
    • 1st Edition
    • Alice Nakamura + 1 more
    • English
    The Second Paycheck: A Socioeconomic Analysis of Earnings is a comprehensive analysis of the socioeconomic aspects of earnings, with emphasis on the dynamic labor supply behavior of men and women. The importance of dynamic models in understanding labor supply is highlighted. The impact of children on the dynamic labor supply of men and women, and how changes in marital status affect female labor supply, are also discussed. Comprised of eight chapters, this book begins by considering several reasons why the labor force behavior of married women has become an important topic in the mainstream of the economics literature. The work behavior of married women is examined in the larger context of the work behavior of married and unmarried men and women. Furthermore, a microanalytic simulation approach to behavioral research and forecasting is presented. The behavioral model used in this study is then described. In addition to coefficient estimates, the probabilities of work, expected wage rates and expected hours of work are analyzed. A Heckman-type model of work behavior is also generalized to include unemployment. This monograph is intended for economists, sociologists, students of labor economics, researchers, forecasters, and those from all backgrounds who are interested in understanding or forecasting the employment and earnings behavior of women.

  • Uncertainty in Economics

    Readings and Exercises
    • 1st Edition
    • Peter Diamond + 1 more
    • English
    Uncertainty in Economics: Readings and Exercises provides information pertinent to the fundamental aspects of the economics of uncertainty. This book discusses ho uncertainty affects both individual behavior and standard equilibrium theory. Organized into three parts encompassing 30 chapters, this book begins with an overview of the relevance of expected utility maximization for positive and normative theories of individual choice. This text then examines the biases in judgments, which reveal some heuristics of thinking under uncertainty. Other chapters consider the effect of restricting trade in contingent commodities to those trades that can be affected through the stock and bond markets. This book discusses as well the individual problem of sequential choice and equilibria, which are built around the notion of sequential choice. The final chapter deals with an entirely different aspect of the economics of information and reverts to the assumption that markets are perfect and costless. This book is a valuable resource for economists and students.

  • New Quantitative Techniques for Economic Analysis

    • 1st Edition
    • Giorgio P. Szegö
    • English
    Economic Theory, Econometrics, and Mathematical Economics: New Quantitative Techniques for Economic Analysis provides a critical appraisal of the results, the limits, and the developments of well-established quantitative techniques. This book presents a detailed analysis of the quantitative techniques for economic analysis. Organized into four parts encompassing 16 chapters, this book begins with an overview of the general questions concerning models and model making. This text then provides the main results and various interesting economic applications of some quantitative techniques that have not been widely used in the economic field. Other chapters consider the principle of optimality in dynamic programing wherein the infinite sequence of consumption-saving decisions can be reduced to one decision. This book discusses as well the methods for online control and management of large-scale systems. The final chapter deals with special problems. This book is a valuable resource for economists, social scientists, epistemologists, economic historians, and research workers.

  • A Theory of International Trade Under Uncertainty

    • 1st Edition
    • Elhanan Helpman + 1 more
    • Karl Shell
    • English
    A Theory of International Trade Under Uncertainty analyzes international trade in goods and securities in the presence of uncertainty using an integrated general equilibrium framework that recognizes the dependence of markets for goods on financial markets and vice versa. The usefulness of this approach is demonstrated by means of applications to questions such as the effects of international trade on resource allocation, tariff policy, and intervention in financial capital markets. Results which are important for theoretical as well as policy oriented applications are presented. Comprised of 11 chapters, this volume begins with an introduction to some of the fundamental elements of the deterministic Ricardian and Heckscher-Ohlin theories of international trade. Relevant elements from the theory of decision making under uncertainty are then discussed, along with the behavior of firms and consumers-investors in an economy with stock markets. Subsequent chapters focus on problems of commercial policy; gains from trade in goods and securities; and issues of intervention in financial capital markets. The book concludes by describing a dynamic model of international trade that contains an infinite horizon and takes into account the trade-off between present period consumption and savings. An example that illustrates an equilibrium structure of the dynamic model is presented. This monograph is intended for economists who are interested in international trade or international finance, including graduate students who specialize in these fields.

  • Studies in Macroeconomic Theory

    Redistribution and Growth
    • 1st Edition
    • Edmund S. Phelps
    • Karl Shell
    • English
    Studies in Macroeconomic Theory, Volume 2: Redistribution and Growth is a compendium of scholarly papers on the behavior and public control of distribution and growth in the market economy. The papers in this volume focus on the subject of public finance under the broad theory of economic policy. The papers are grouped into five groups or sections. Part I covers the steady-state choices. The second part takes up the efficient use of a given volume of saving in the choice among national investments. Part III explores the alternative approaches to optimal national saving. Part IV discusses the maximin-optimal graduated taxation of wage income. The final section expounds on Rawls's vision of the just economy. Economists will find the text invaluable and insightful.

  • Welfare Effects of Trade Restrictions

    A Case Study of the U.S. Footwear Industry
    • 1st Edition
    • Michael Szenberg + 2 more
    • Karl Shell
    • English
    Welfare Effects of Trade Restrictions: A Case Study of the U.S. Footwear Industry evaluates and analyzes the welfare effects of removing trade restrictions on United States imports of nonrubber footwear through the product and employment markets. This book focuses on the structural characteristics of the industry and its adjustment experience to import competition. Organized into four chapters, this book begins with an overview of the detailed structural characteristics of the domestic footwear industry and its degree of competition. This text then provides the analytical framework for estimating the welfare effects of removing trade restrictions on imported footwear by using a consumer surplus approach. Other chapters consider the essential parameters needed in evaluating the foregoing effects of import restrictions on the domestic industry. This book discusses as well the impact of tariff restrictions on imported footwear. The final chapter deals with the trade adjustment assistance experience of the footwear industry. This book is a valuable resource for economists.

  • General Equilibrium Models of Monetary Economies

    Studies in the Static Foundations of Monetary Theory
    • 1st Edition
    • Ross M. Starr
    • English
    General Equilibrium Models of Monetary Economies: Studies in the Static Foundations of Monetary Theory is a collection of essays that addresses the integration of the theory of money and the theory of value by using a mathematical general equilibrium theory. The papers discuss monetary theory, microeconomic theory, bilateral trade, transactions costs, intertemporal allocation, and the value of money. The Arrow-Debreu model of Walrasian general equilibrium theory provides a framework to represent money as a device for facilitating trade among economic agents without the use of money as a medium of exchange and as a store of value. The essays analyze the rationale for using a medium of exchange, for using a store of value, and for holding of idle balances in equilibrium. The essays show that by explicit modeling of the structure and difficulties of trade, a powerful class of models which deny money and finance a role in the economy, has by itself shown to have provided the foundation for the structures of trade. The collection will prove helpful for economists, statistician, mathematicians, students or professors of economics and business.

  • A Lexicon of Economics

    • 1st Edition
    • Kenyon A. Knopf
    • English
    A Lexicon of Economics compiles definitions and abbreviations of many commonly used economic terms and concepts. This book begins by providing a list of abbreviations, acronyms, and foreign phrases, followed by the definition of economic terms that are organized into alphabetical order. This compilation aims to address two difficulties in the idiom of economics—first is the exact use of a very specific definition for a common word that has many diverse meanings in everyday usage, and secondly, the interpretation of acronyms and abbreviations frequently used in economic and financial discussions. This monograph is suitable for professionals who want a handy, clear explanation of the economic terms they hear or read everyday.

  • Forecasting Economic Time Series

    • 2nd Edition
    • C. W. J. Granger + 1 more
    • Karl Shell
    • English
    Economic Theory, Econometrics, and Mathematical Economics, Second Edition: Forecasting Economic Time Series presents the developments in time series analysis and forecasting theory and practice. This book discusses the application of time series procedures in mainstream economic theory and econometric model building. Organized into 10 chapters, this edition begins with an overview of the problem of dealing with time series possessing a deterministic seasonal component. This text then provides a description of time series in terms of models known as the time-domain approach. Other chapters consider an alternative approach, known as spectral or frequency-domain analysis, that often provides useful insights into the properties of a series. This book discusses as well a unified approach to the fitting of linear models to a given time series. The final chapter deals with the main advantage of having a Gaussian series wherein the optimal single series, least-squares forecast will be a linear forecast. This book is a valuable resource for economists.

  • Evaluation of Econometric Models

    • 1st Edition
    • Jan Kmenta + 1 more
    • English
    Evaluation of Econometric Models presents approaches to assessing and enhancing the progress of applied economic research. This book discusses the problems and issues in evaluating econometric models, use of exploratory methods in economic analysis, and model construction and evaluation when theoretical knowledge is scarce. The data analysis by partial least squares, prediction analysis of economic models, and aggregation and disaggregation of nonlinear equations are also elaborated. This text likewise covers the comparison of econometric models by optimal control techniques, role of time series analysis in econometric model evaluation, and hypothesis testing in spectral regression. Other topics include the relevance of laboratory experiments to testing resource allocation theory and token economy and animal models for the experimental analysis of economic behavior. This publication is intended for students and researchers interested in evaluating econometric models.

  • NIH: An Account of Research in Its Laboratories and Clinics

    • 1st Edition
    • DeWitt Stetten
    • English
    NIH: An Account of Research in Its Laboratories and Clinics contains collected accounts of the Intramural Research Program, as they happened in the laboratories and clinics, in various installations of the National Institutes of Health across the U.S.A. One paper discusses the etiology of schizophrenia which notes that, based on evidence and expanded adoption studies by Ketty, Rosenthal, and Wender, genetic factors actually contribute to the development of the disease. In developing countries, schizophrenia follows a more benign course. Some papers describe bacteriology, mycology, viral hepatitis, basic immunology, clinical immunology, and the development of enzymology. Researchers studying proteins elucidate on the synthesis and folding of protein chains, protein conformation and dynamics, the semisynthesis and protein function, as well as on sequence analysis and collagen research. Other papers describe the breaking of the genetic code, the progress made from the genetic code to beta thalassemia, to investigations of genetic diseases (such as galactosemia, gout, Lesch-Nyhan disease, mucopolysaccharide storage disease, and sickle cell disease). One paper notes the contribution of the intramural clinical research program of the National Cancer Institute to cancer therapy with emphasis in cancer chemotherapy. Professors in pharmacology, practitioners of general medicine, specialists or researchers dealing with microchemistry, toxicology, drug therapy, or oncology will find the collection valuable.

  • Theory and Measurement of Economic Externalities

    • 1st Edition
    • Steven A. Y. Lin
    • English
    Theory and Measurement of Economic Externalities provides information on some analytical and empirical developments in the field of externalities. This book presents the function of turning out producer's goods in the form of better knowledge, analytical formulation, and approaches for application to current problems. Organized into five parts encompassing 12 chapters, this book begins with an overview of the notion of externalities in connection with analyses of economic welfare. This text then discusses the relationship between publicness and external diseconomies when either consumption or production or decision sets are nonconvex due to a high degree of externalities. Other chapters consider disproving the pessimistic conclusions concerning tax–subsidy schemes. This book discusses as well the solutions for the allocation of resources in an economy with public goods and interdependent preferences. The final chapter deals with a general framework for estimating externality production functions. This book is a valuable resource for economists.

  • Household and Economy

    Welfare Economics of Endogenous Fertility
    • 1st Edition
    • Marc Nerlove + 2 more
    • Karl Shell
    • English
    Household and Economy: Welfare Economics of Endogenous Fertility deals with welfare economics and the socially optimal population size, as well as the social consequences of individual choice with respect to family size within each generation. The general equilibrium implications of endogenous fertility for a number of issues of population policy are discussed. In addition to their own consumption, the number of children and the utility of each child is assumed to enter the utility function of the parents. Comprised of 10 chapters, this volume begins with a review of social welfare criteria for optimal population size and the static theory of optimal population size, optimal population growth with exogenous fertility, and the theory of endogenous fertility. The reader is then introduced to the basic principles of welfare economics and the economics of externalities, followed by a summary of the traditional theory of household behavior. Subsequent chapters focus on optimal population size according to various social welfare criteria; real and potential externalities generated by the endogeneity of fertility; and the principal alternative reason for having children: to transfer resources from the present to support the future consumption of parents in old age. The book concludes by assessing the implications of endogenous fertility for within-generation income distribution policies and reflecting on the directions in which future research may be fruitful. This monograph will be of value to economists, social scientists, students of welfare economics, and those who wish to understand the contribution of economic analysis to an improved understanding of population policy.

  • Production Sets

    • 1st Edition
    • Murray C. Kemp
    • English
    Production Sets is a 12-chapter text that provides a comprehensive account of the properties of production sets. After a brief history of the analysis of production set possibilities, this book goes on examining the flatness of the transformation surface and the properties of production set possibilities with pure intermediate products. The succeeding chapters cover the shape aspects of production sets and the nonsubstitution over the production-possibili... frontier. These topics are followed by discussions of some implications of variable returns to scale, specifically the relation between output responses and the shape of the locus of production possibilities. The final chapters explore the production-possibili... set with public intermediate goods and the scale effect of public goods on production-possibili... sets. These chapters also look into the properties of the per capita production set in the two-sector model of economic growth. This book will prove useful to economists, teachers, and students.

  • Housing for Special Groups

    Proceedings of an International Seminar Organized by the Committee on Housing, Building and Planning of the United Nations Economic Commission for Europe, and Held in The Hague, at the Invitation of the Government of The Netherlands, 8-13 November 1976
    • 1st Edition
    • Sam Stuart
    • English
    Housing for Special Groups contains the proceedings of an international seminar held in the Netherlands on November 8-13, 1976 under the auspices of the Committee on Housing, Building and Planning of the United Nations Economic Commission for Europe. The seminar provided a forum for discussing the special housing requirements of certain groups, including the elderly and the handicapped. The emphasis is on the scope and size of special housing problems and their likely future evolution, as well as the general lines of approach adopted by various countries to tackle these problems. The discussions are organized around three themes: specific housing needs in relation to overall housing policy; social principles, including financial aid; and architectural, planning, and technical aspects. The issues covered include the right to housing and the integration of such housing into the community and the avoidance of segregation; the possibility of housing choice; the relationship between the life-cycle of households and housing needs; and the architecture, planning, and technical aspects of housing for special groups in western Europe and eastern Europe. The possibilities offered both by new production and by alterations to existing buildings are considered. This monograph will be of interest to housing officials and policymakers.

  • Economic Reforms in Eastern Europe and Prospects for the 1980s

    Colloquium, 16-18 April 1980
    • 1st Edition
    • Sam Stuart
    • English
    Economic Reforms in Eastern Europe and Prospects for the 1980s focuses on the institution of economic reforms and prospects in Eastern Europe, including manpower availability, scarce and expensive energy and raw materials, deficiency of technological innovation, and inflexibilities in management. The selection first offers information on the economic reforms in Bulgaria, Romanian economic reforms, and the economic reforms in Czechoslovakia. Discussions focus on "the kj problem" and its resolution, evaluation of the Bulgarian model, Romanian economic development, and principles contained in the directives. The text then examines the reform of the system of economic management in Poland; economic reforms and consumers in Eastern Europe; and the prospects for the 1980s of the economic reforms in Bulgaria and Romania. The publication takes a look at the economic prospects for the 1980s of Czechoslovakia and the German Democratic Republic. Topics include factors impending economic growth, overemployment, increases in consumer good prices, welfare of consumers, and decreasing economic growth. The book further elaborates on the economic prospects for the 1980s of Hungary and Poland and the effects of energy development on East European economic prospects. The selection is a vital reference for economists and readers interested in the prospects for the 1980s of the economic reforms in Eastern Europe.

  • The Economics of Israel

    The Commonwealth and International Library: Social Administration, Training, Economics, and Production Division
    • 1st Edition
    • David Horowitz
    • R Brown + 2 more
    • English
    The Economics of Israel provides information pertinent to the important features in Israel's economic development, which is the outcome of large-scale capital import. This book discusses the various economic issues that the people of the State of Israel are confronted with, including difficult problems of controlling inflation, diversity of socio-economic structure, and geopolitical isolation. Organized into eight chapters, this book begins with an overview of Israel's geographical characteristics and natural resources. This text then examines the international economic relations of Israel. Other chapters consider the financial development in Israel since the establishment of the State. This book discusses as well the different elements of economic growth and the dynamic reaction of the economic structure of the immigration country to the process of migration. The final chapter deals with the unusual diversity of the social structure of the economy of Israel. This book is a valuable resource for readers who are interested in the economics of Israel.

  • Economic Co-Operation in the Commonwealth

    The Commonwealth and International Library: Commonwealth Affairs Division
    • 1st Edition
    • Guy Arnold
    • Kenneth Bradley + 1 more
    • English
    Economic Co-Operation in the Commonwealth focuses on the dynamics, issues, and political color of economic co-operation in the Commonwealth countries. The publication first elaborates on the economics of imperialism and basis for economic co-operation. Discussions focus on factors after the war, emergence of new Commonwealth, beginnings of aids, independence, free trade and protection, and World War I. The text then elaborates on trade, sterling, and investment and economic blocs. Topics include common market, United States, regional blocs, pattern of the Commonwealth trade, sterling and the sterling area, and investment. The manuscript ponders on immigration and minorities, neo-colonialism, and aid, including general flow of aid, Commonwealth needs, and Commonwealth aid effort and plan. The publication is a vital source of information for researchers interested in the economic co-operation in the Commonwealth countries.

  • Science and Starvation

    An Introduction to Economic Development
    • 1st Edition
    • Donald J. Hughes
    • English
    Science and Starvation: An Introduction to Economic Development focuses on the relationship of the advancement of science and the proliferation of poverty. The book first underscores the nature of poverty, development of the West and other countries, and some principles of development. The text takes into consideration the comfort brought about by scientific revolution and also the increasing reality of starvation which affects millions. The publication takes a look at the discrepancy of living conditions in different countries, wherein it is noted that countries in the West have better living conditions due to the tremendous growth in science and technology in their sector. This fact is particularly evident in the United States, Japan, and the Soviet Union. The text ponders on international aid, United Nations aid, and the population problem. The contributions of the United Nations to various projects targeted at fighting poverty is underscored. The publication is a valuable source of data for researchers interested in the relationship of science and poverty.

  • Inflation!

    A Study in Stability
    • 1st Edition
    • J.W.C. Cumes
    • English
    Inflation! A Study in Stability focuses on the processes, factors, methodologies, and principles employed in the study of inflation. The book first underscores the constantly changing context of economic theories and policies as they apply to various facets of economy. The manuscript then examines estate management by the rich and the balance of production. The text takes a look at the influence of industrial revolution in uplifting economy, particularly noting the material achievements it has given to humanity. The book then underscores the value of exchange and interest in shaping economy, wherein it is emphasized that these factors are the visible measures by which economy can be gauged. The manuscript is a vital source of information for researchers and economists interested in studying the factors, conditions, and issues involved in inflation.

  • Giro Credit Transfer Systems

    Popular International Facilities for Economic Efficiency
    • 1st Edition
    • F. P. Thomson
    • N. Skene Smith
    • English
    Giro Credit Transfer Systems: Popular International Facilities for Economic Efficiency presents the financial, economic, and social system that has been a successful part of everyday life in nearly every West European country. This book discusses the remarkable benefits conferred by the giro system methods. Organized into six chapters, this book begins with an overview of the origin of the credit transfer principle to minimize the public's demand for coinage. This text then explains the financial system in which credit circulation takes the place of banknotes and coinage. Other chapters consider the implications of a comprehensive giro system, which is necessary to analyze the processes and costs incurred in operating British monetary transmission methods. This book discusses as well the general survey of the growth of the service. The final chapter deals with the establishment of the bank's credit transfer scheme. This book is a valuable resource for bankers and stockbrokers.

  • Building Research Policies

    Proceedings of a Seminar on Building Research Policies, Organized by the Committee on Housing, Building and Planning of the United Nations Economic Commission for Europe, with the Swedish Government as Host
    • 1st Edition
    • Sam Stuart
    • English
    Building Research Policies contains the proceedings of a seminar on Building Research Policies held in Gävle, Sweden, on May 23-27, 1977, under the auspices of the Committee on Housing, Building and Planning of the United Nations Economic Commission for Europe. The seminar provided a forum for discussing policies for research and development work with respect to building materials, components, and construction. This book explores the various ways and means of planning, organizing, coordinating, and financing building research and development activities on the national level, taking into account both the short- and long-term needs of society. While the main emphasis is on governmental measures to support research activities carried out by universities, research organizations, and independent experts, the steps taken to help research and development in the building materials and construction industries, for example by fiscal action or aid to education and training activities, are also taken into account. The promotion of the use of research and development findings both nationally and internationally, and the methods by which international collaboration might stimulate research and development within countries and make it more efficient, are explored as well. This monograph will be of interest to researchers and engineers.

  • Economics of Education

    A Selected Annotated Bibliography
    • 1st Edition
    • M. Blaug
    • G. Chandler
    • English
    Economics of Education: A Selected Annotated Bibliography is an annotated bibliography of the economics of education. The criterion of selection is a simple one: whether the country or area study contributes to fundamental generalization about the economic aspects or economic role of education. The literature on developed countries is distinguished from that dealing with the developing nations. Comprised of 12 chapters, this volume begins with a list of topics for developed countries, including the economics and politics of education; educational planning; manpower forecasting; and social mobility and reserves of talent. The same topics are addressed in the second part for developing countries. The bibliography covers topics ranging from the theory of economic growth and the role of education in social change to the problems of labor and management in economic growth; the role of education in social and economic development; the economics of public education; and the economics of human resources. This book will be of interest to economists and educators.

  • Advanced Lectures in Quantitative Economics

    • 1st Edition
    • Frederick van Der Ploeg
    • English
    Advanced Lectures in Quantitative Economics summarizes some of the efforts of a second-phase program for first-rate candidates with a Master's degree in economics who wish to continue with a doctoral degree in quantitative economics. This book is organized into three main topics—macroeconomic... microeconomics, and econometrics. This text specifically discusses the Neo-Keynesian macroeconomics in an open economy, international coordination of monetary policies under alternative exchange-rate regimes, and prospects for global trade imbalances. The post-war developments in labor economics, introduction to overlapping generation models, and measurement of expectations and direct tests of the REH are also elaborated. This monograph likewise covers the dynamic econometric modeling of decisions under uncertainty and fundamental bordered matrix of linear estimation. This publication is a good reference for students and specialists interested in quantitative economics.

  • The Biology of the Guinea Pig

    • 1st Edition
    • Joseph E. Wagner
    • English
    The Biology of the Guinea Pig focuses on the use of the guinea pig as a substrate in research. This book provides a comprehensive coverage of material related to applied care and management of guinea pigs and their diseases. Topics on guinea pig behavior, genetics, specific pathogen-free technique, biomethodology, and colony husbandry are also covered. This text likewise deals with the noninduced diseases of guinea pigs and use of the guinea pig in nutrition research, otologic research, toxicology, and teratology. This publication is beneficial to the general scientific community that includes investigators using or considering the use of guinea pigs in research, veterinarians, students of veterinary medicine, professionals concerned with the care and management of guinea pigs, commercial producers of guinea pigs, and cavy fanciers.

  • Genes, Culture, and Personality

    An Empirical Approach
    • 1st Edition
    • Bozzano G Luisa
    • English
    The diversity of human behavior is one of the most fascinating aspects of human biology. What makes our individual attitudes, lifestyle and personalities different has been the subject of many physiological and psychological theories. In this book the emphasis is on understanding the genetic and environmental causes of these differences. Genes, Culture, and Personality is an expansive account of the state of current knowledge about the causes of individual differences in personality and social attitudes. Based on almost two decades of empirical research, the authors have made a significant contribution to the debate on genetic and cultural inheritance in human behavior. The book should be required reading for psychologists, psychiatrists, sociobiologists, and geneticists.

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