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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 "
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.
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 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
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. "
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).
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:
The 12 articles in this second of twoparts condense recent advances
on investment vehicles, performance measurement and evaluation, and
risk management into a coherent springboard for future research.
Written by world leaders in asset pricing research, they present
scholarship about the 2008 financial crisis in contexts that
highlight both continuity and divergence in research. For those who
seek authoritative perspectives and important details, this volume
shows how the boundaries of asset pricing have expanded and at the
same time have grown sharper and moreinclusive.
This second part of a two-volume set continues to describe
economists' efforts to quantify the social decisions people
necessarily make and the philosophies that those choices define.
Contributors draw on lessons from philosophy, history, and other
disciplines, but they ultimately use editor Kenneth Arrow's seminal
work on social choice as a jumping-off point for discussing ways to
incentivize, punish, and distribute goods.
As conceived by the founders of the Econometric Society,
econometrics is a field that uses economic theory and statistical
methods to address empirical problems in economics. It is a tool
for empirical discovery and policy analysis. The chapters in this
volume embody this vision and either implement it directly or
provide the tools for doing so. This vision is not shared by those
who view econometrics as a branch of statistics rather than as a
distinct field of knowledge that designs methods of inference from
data based on models of human choice behavior and social
interactions. All of the essays in this volume and its companion
volume 6A offer guidance to the practitioner on how to apply the
methods they discuss to interpret economic data. The authors of the
chapters are all leading scholars in the fields they survey and
Volume 1B covers the economics of financial markets: the saving and investment decisions; the valuation of equities, derivatives, and fixed income securities; and market microstructure.
The Handbook of Environmental Economics focuses on the economics of environmental externalities and environmental public goods. Volume I examines environmental degradation and policy responses from a microeconomic, institutional standpoint. Its perspective is dynamic, including a consideration of the dynamics of natural systems, and global, with attention paid to issues in both rich and poor nations. In addition to chapters on well-established topics such as the theory and practice of pollution regulation, it includes chapters on new areas of environmental economics research related to common property management regimes; population and poverty; mechanism design; political economy of regulation; experimental evaluations of policy instruments; and technological change.
The subject matter of agricultural economics has both broadened and deepened in recent years, and the chapters of this Handbook present the most exciting and innovative work being done today. Following Volume 1, Volume 2 consists of three parts: 'Agriculture, Natural Resources and the Environment', 'Agriculture in the Macroeconomy' and 'Agriculture and Food Policy'. Although agricultural economists have always paid attention to these topics, research devoted to them has increased substantially in scope as well as depth in recent years.
This first volume of the "Handbook of Agricultural Economics" presents work on topics central to the economics of agriculture: the quantitative representation of technology; market expectations; household production behaviour; consumer behaviour with uncertain quality and safety of goods; and issues of imperfect competition in food marketing. Volume IB deals with the economics of agricultural products after they leave the farm. Seven chapters explain recent developments in application of dual approaches in household economies, the industrial organization of food marketing, marketing margins between farm and retail prices, spatial price analysis, commodity storage and price stabilization, commodity futures and options markets, and the economics of food safety. Volumes IA and IB each follow their specialized chapters with a synthesis chapter that brings together and assesses the main themes and issues of the field, and volume IB concludes with an overall synthesis of the state of and prospects for agricultural economics as applied economic science.
The book first discusses in depth various aspects of the well-known
inconsistency that arises when explanatory variables in a linear
regression model are measured with error. Despite this
inconsistency, the region where the true regression coeffecients
lies can sometimes be characterized in a useful way, especially
when bounds are known on the measurement error variance but also
when such information is absent. Wage discrimination with imperfect
productivity measurement is discussed as an important special case.
A Textbook on Macroeconomic Knowledge and Analysis
Two important new developments have occurred that have significant
impact on the evolution of econometrics, namely, the end of the
Cold War and the emergence of the information revolution in nearly
all economies of the world.
The information revolution has had significant effect on data
flows, making them much more timely, accessible, and descriptive of
more parts of the economy. At the same time, it has changed the
industrial structure of many economies, giving rise to increasing
importance of the tertiary sectors (e.g. services). The new
generation of hardware and software enables econometricians to
handle larger and more complex problems, especially those that are
data intensive and computer intrusive.
These major events require reconsideration and redrafting of
some of the materials of the original edition.
The present volume retains the original structure of "Lectures
on Microeconomic Theory" and takes up principles of constructing
dynamic macroeconometric models and their use in economic analyses
and forecasting, while introducing many updates, revisions and
extensions. The description of the econometric methodology has been
limited to specific applications of time series analysis, and the
title has been changed to "Principles of Macroeconometric
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
This third volume of the "Handbook of Development Economics"
employs rigorous theoretical and empirical frameworks. It focuses
on policy and includes material from unpublished and not generally
available sources. In
As in the previous volumes of the series, the chapters in this
Handbook provide self-contained surveys summarizing not only
received knowledge but also recent developments. Each chapter is
also a definitive source, reference and teaching supplement for use
by researchers and advanced graduate students.
Hardbound. The Handbook of Natural Resource and Energy Economics examines the current theory, and samples current application methods for natural resource and energy economics. This third volume of the Handbook deals primarily with non-renewable resources. It analyzes the economics of energy and minerals, and includes chapters on the economics of environmental policy. The Handbook provides a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. The surveys summarize not only received results but also newer developments from recent journal articles and discussion papers.For more information on the Handbooks in Economics series, please see our home page on http: //www.elsevier.nl/locate/he
This Handbook adopts a traditional definition of the subject, and
focuses primarily on the explanation of international transactions
in goods, services, and assets, and on the main domestic effects of
those transactions. The first volume deals with the "real side" of
international economics. It is concerned with the explanation of
trade and factor flows, with their main effects on goods and factor
prices, on the allocation of resources and income distribution and
on economic welfare, and also with the effects on national policies
designed explicitly to influence trade and factor flows. In other
words, it deals chiefly with microeconomic issues and methods. The
second volume deals with the "monetary side" of the subject. It is
concerned with the balance of payments adjustment process under
fixed exchange rates, with exchange rate determination under
flexible exchange rates, and with the domestic ramifications of
these phenomena. Accordingly, it deals mainly with macroeconomic
issues, although microeconomic methods are frequently utilized,
especially in work on expectations, asset markets, and exchange
rate behavior. For more information on the Handbooks in Economics
series, please see our home page on http:
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
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