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Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view.
Presents coherent summaries of CGE theories that inform major
A collection of short, stand-alone chapters divided into five sections including overview of the field;private and social returns to human capital investments;production, costs and financing of education; teachers and teacher labor markets; andeducation markets, choice and incentives. The collection provides international perspectives that describe the origins of these subjects, their major issues and proponents, their landmark studies, and opportunities for future research.
The 70 contributors are each well-regarded economists whose research has advanced the topic on which they write, and this book fulfills anundersupplied niche for a text in the economics of education.
The chapters come from the acclaimed"International Encyclopedia
of Education, 3e "(2010), edited byEva Baker, Barry McGaw, and
Penelope Peterson.The "Encyclopedia" contains over 1,350 articles
in 24 sections that stretch from educational philosophies and
technologies to measurement, leadership, and national systems of
Superb contributions from well-regarded economist convey unique and useful perspectives
Chapters contain an extensive bibliography and further readings toenable interested researchers to extend their knowledge into each specific topic "
The collection of chapters in the "Handbook of Population and
Family Economics" and their organization reflect the most recent
developments in economics pertaining to population issues and the
family. The rationale, contents, and organization of the "Handbook"
evolve from three premises. First, the family is the main arena in
which population outcomes are forged. Second, there are important
interactions and significant causal links across all demographic
phenomena. Third, the study of the size, composition, and growth of
a population can benefit from the application of economic
methodology and tools. The diversity and depth of the work reviewed
and presented in the "Handbook" conveys both the progress that has
been made by economists in understanding the forces shaping
population processes, including the behavior of families, and the
many questions, empirical and theoretical, that still remain. For
more information on the Handbooks in Economics series, please see
our home page on http: //www.elsevier.nl/locate/hes
In the 11 articles in this first of two parts, top scholars
summarize and analyze recent scholarship incorporate finance.
Covering subjects from corporate taxes to behavioral corporate
finance and econometric issues, their articlesreveal how
specializations resonate with each other and indicate likely
directions for future research. By includingboth established and
emerging topics, Volume 2 will have the same long shelf life and
high citations that characterize Volume 1 (2003).
In this collection of 16 articles, top scholars synthesize and
analyze scholarship on this widely used tool of policy analysis,
setting forth its accomplishments, difficulties, and means of
implementation. Though CGE modeling does not play a prominent role
in top US graduate schools, it is employed universally in the
development of economic policy. This collection is particularly
important because it presents a history of modeling applications
and examines competing points of view.
This collection of original articles 8 years in the making
shines a bright light on recent advances in financial econometrics.
From a survey of mathematical and statistical tools for
understanding nonlinear Markov processes to an exploration of the
time-series evolution of the risk-return tradeoff for stock market
investment, noted scholars Yacine Ait-Sahalia and Lars Peter Hansen
benchmark the current state of knowledge while contributors build a
framework for its growth. Whether in the presence of statistical
uncertainty or the proven advantages and limitations of value at
risk models, readers will discover that they can set few
constraints on the value of this long-awaited volume.
Volume 3 of this series of the Handbooks in Economics follows on
from the previous two volumes by focusing on the fundamental
concepts of agricultural economics. The first part of the volume
examines the developments in human resources and technology
mastery. The second part follows on by considering the processes
and impact of invention and innovation in this field. The effects
of market forces are examined in the third part, and the volume
concludes by analysing the economics of our changing natural
resources, including the past effects of climate change.
The Handbook of Social Choice and Welfare presents, in two volumes,
essays on past and on-going work in social choice theory and
welfare economics. The first volume consists of four parts. In Part
1 (Arrovian Impossibility Theorems), various aspects of Arrovian
general impossibility theorems, illustrated by the simple majority
cycle first identified by Condorcet, are expounded and evaluated.
It also provides a critical survey of the work on different escape
routes from impossibility results of this kind. In Part 2 (Voting
Schemes and Mechanisms), the operation and performance of voting
schemes and cost-sharing mechanisms are examined axiomatically, and
some aspects of the modern theory of incentives and mechanism
design are expounded and surveyed. In Part 3 (structure of social
choice rules), the positional rules of collective decision-making
(the origin of which can be traced back to a seminal proposal by
Borda), the game-theoretic aspects of voting in committees, and the
implications of making use of interpersonal comparisons of welfare
(with or without cardinal measurability) are expounded, and the
status of utilitarianism as a theory of justice is critically
examined. It also provides an analytical survey of the foundations
of measurement of inequality and poverty. In order to place these
broad issues (as well as further issues to be discussed in the
second volume of the Handbook) in perspective, Kotaro Suzumura has
written an extensive introduction, discussing the historical
background of social choice theory, the vistas opened by Arrow's
"Social Choice and Individual Values," the famous "socialist
planning" controversy, and the theoretical and practical
significance of social choice theory. The primary purpose of this
Handbook is to provide an accessible introduction to the current
state of the art in social choice theory and welfare economics. The
expounded theory has a strong and constructive message for pursuing
human well-being and facilitating collective decision-making.
*Advances economists understanding of recent advances in social choice and welfare
*Distills and applies research to a wide range of social issues
*Provides analytical material for evaluating new scholarship
*Offers consolidated reviews and analyses of scholarship in a framework that encourages synthesis. "
This text aims to provide a survey of the state of knowledge in the broad area that includes the theories and facts of economic growth and economic fluctuations, as well as the consquences of monetary and fiscal policies for general economic conditions.
Economists examine the genesis of technological change and the ways we commercialize and diffuse it. The economics of property rights and patents, in addition to industry applications, are also surveyed through literature reviews and predictions about fruitful research directions.
- Two volumes, available as a set or sold separately
Expert articles consider the best ways to establish optimal incentives in technological progress
Science and innovation, both their theories and applications, are examined at the intersections of the marketplace, policy, and social welfare.
Economists are only part of an audience that includes attorneys, educators, and anyone involved in new technologies.
Applied financial econometrics subjects are featured in this second volume, with papers that survey important research even as they make unique empirical contributions to the literature. These subjects are familiar: portfolio choice, trading volume, the risk-return tradeoff, option pricing, bond yields, and the management, supervision, and measurement of extreme and infrequent risks. Yet their treatments are exceptional, drawing on current data and evidence to reflect recent events and scholarship. A landmark in its coverage, this volume should propel financial econometric research for years.
Presents a broad survey of current research
The Handbook brings together a systematic review of the research
topics, empirical findings, and methods that comprise modern labor
economics. It serves as an introduction to what has been done in
this field, while at the same time indicating possible future
trends which will be important in both spheres of public and
Theory and application of a variety of mathematical techniques in
economics are presented in this volume. Topics discussed include:
martingale methods, stochastic processes, optimal stopping, the
modeling of uncertainty using a Wiener process, Ito's Lemma as a
tool of stochastic calculus, and basic facts about stochastic
differential equations. The notion of stochastic ability and the
methods of stochastic control are discussed, and their use in
economic theory and finance is illustrated with numerous
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.
For this Handbook authors known to have different views regarding the nature of development economics have been selected. The Handbook is organised around the implications of different sets of assumptions and their associated research programs. It is divided into three volumes, each with three parts which focus on the broad processes of development. Volume 1 of the Handbook begins by discussing the concept of development, its historical antecedents, and alternative approaches to the study of development, broadly construed. The second part is devoted to the structural transformation of economies. The role that human resources play in economic development is the focus of the last section of this volume.
For more detailed information on the Handbooks in Economics
series, please see our home page on http:
How can economists define social preferences and interactions?
Culture, familial beliefs, religion, and other sources contain the origins of social preferences. Those preferences--the desire for social status, for instance, or the disinclination to receive financial support--often accompany predictable economic outcomes. Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Their work brings order to the sometimes conflicting claims that countries, environments, beliefs, and other influences make on our economic decisions.
Describes recent scholarship on social choice and introduces new
evidence about social preferences
What factors affect the ways individuals participate in labor markets?
"New Developments and Research on Labor Markets" (volume 4B) proposes answers to this and other questions on important topics of public policy. Leading labor economists demonstrate how better data and advanced experiments help them apply economic theory, yielding sharper analyses and conclusions. The combinations of these improved empirical findings with new models enable the authors of these chapters to reveal how labor economists are developing new and innovative ways to measure key parameters and test important hypotheses.
Concentrates on empirical research in specific labor markets,
including those defined by age, gender, and race
What are the goals ofmonetary policy and how are they transmitted?
Top scholars summarize recent evidence on the roles of money in
the economy, the effects ofinformation, 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
What new tools and models are enriching labor economics?
"Developments in Research Methods and their Application" (volume
4A) summarizes recent advances in the ways economists study wages,
employment, and labor markets. Mixing conceptual models and
empirical work, contributors cover subjects as diverse as field and
laboratory experiments, program evaluation, and behavioral models.
The combinations of these improved empirical findings with new
models reveal how labor economists are developing new and
innovative ways to measure key parameters and test important
How does technology advance? How can we best assimilate innovation? These questions and others are considered by experts on the theories and applications of technological innovations. Considering subjects as diverse as the diffusion of new technologies and their industrial applications, governmental policies, and manifestations of innovation in our institutions, history, and environment, our contributors map milestones in research and speculate about the roads ahead. Wasteful, inefficient, and frequently wrongheaded, the process of technological changes is here revealed as a describable, scientific force.
- Two volumes, available separately and as a set
Expert articles consider the best ways to establish optimal incentives in technological progress.
Science and innovation, both their theories and applications, are examined at the intersections of the marketplace, policy, and social welfare.
Economists are only part of an audience that includes attorneys, educators, and anyone involved in new technologies."
The second volume of the Handbook of Defense Economics addresses
defense needs, practices, threats, and policies in the modern era
of globalization. This new era concerns the enhanced cross-border
flows of all kinds (e.g., capital and labor flows, revolutionary
rhetoric, guerrillas, and terrorists) including the spillovers of
benefits and costs associated with public goods and transnational
externalities (i.e., uncompensated interdependencies affecting two
or more nations). These ever-increasing flows mean that military
armaments and armies are less able to keep out security threats.
Thus, novel defense and security barriers are needed to protect
borders that are porous to terrorists, pollutants, political
upheavals, and conflicts. Even increased trade and financial flows
imply novel security challenges and defenses. Globalization also
underscores the importance of a new set of institutions (e.g., the
European Union and global governance networks) and agents (e.g.,
nongovernmental organizations and partnerships).
Law can be viewed as a body of rules and legal sanctions that
channel behavior in socially desirable directions for example, by
encouraging individuals to take proper precautions to prevent
accidents or by discouraging competitors from colluding to raise
prices. The incentives created by the legal system are thus a
natural subject of study by economists. Moreover, given the
importance of law to the welfare of societies, the economic
analysis of law merits prominent treatment as a subdiscipline of
economics. Our hope is that this two volume Handbook will foster
the study of the legal system by economists.
The publication of volumes 3 and 4 of the Handbook of Public
Economics affords us several opportunities: to address lacunae in
the original two volumes of this series, to revisit topics on which
there has been substantial new research, and to address topics that
have grown in importance. Indeed, many of the papers individually
encompass all three of these elements. For each chapter relates to
one from an earlier volume, the new contribution is free standing,
written with the knowledge that the reader retains the opportunity
to review the earlier chapter to compare perspectives and consider
material that the current author has chosen not to cover. Indeed,
such comparisons illuminate the evolution of the field during the
two decades that have elapsed since work first began on the
chapters in volume 1. Taken together, the four volumes offer a
comprehensive review of research in public economics over the past
few decades, written by many of the field's leading
How does education affect economic and social outcomes, and how
can it inform public policy? Volume 3 of theHandbooks in the
Economics of Education uses newly available high quality data from
around the world to address these and other core questions. With
the help ofnew methodological approaches, contributors cover
econometric methods and international test score data. They examine
the determinants of educational outcomes andissues surrounding
teacher salaries and licensure. And reflecting government
demandsfor more evidence-based policies, they take new looks at
institutional feaures of school systems. Volumeeditors Eric A.
Hanushek(Stanford), Stephen Machin (University College London) and
Ludger Woessmann (Ifo Institute for Economic Research, Munich) draw
clear lines between newly emergingresearch on the economics of
education and prior work. In conjunction with Volume 4,
theymeasureour current understanding of educationalacquisition and
its economic and socialeffects.
The field of development economics has evolved since volume 3 of
the Handbook of Development Economics was published more than a
decade ago. Volume 4 takes stock of some of the newer trends and
their implications for research in the field and our understanding
of economic development.
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