The Predictive Power Of Behavioral Economics In The Foreign Exchange Market

Download The Predictive Power Of Behavioral Economics In The Foreign Exchange Market full books in PDF, epub, and Kindle. Read online The Predictive Power Of Behavioral Economics In The Foreign Exchange Market ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

The Predictive Power of Behavioral Economics in the Foreign Exchange Market

Author : Vajiheh Mahdiyan Amirabadi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (136 download)

DOWNLOAD NOW!

Book Synopsis The Predictive Power of Behavioral Economics in the Foreign Exchange Market by : Vajiheh Mahdiyan Amirabadi

Download or read book The Predictive Power of Behavioral Economics in the Foreign Exchange Market written by Vajiheh Mahdiyan Amirabadi and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation explores the out-of-sample forecastability of changes in exchange rates using behavioral economics and combination methods and contributes to the literature by introducing three approaches presented in three essays. The first essay explores a new approach through behavioral heuristics to forecast changes in exchange rates. One key aspect of behavioral economics is that people do not use the realized distribution of historical data to predict variables. Instead, agents assign subjective probabilities which depend on heuristics in decision-making. These subjective probabilities are used as weights for the ten years of observations prior to time t in linear models of changes in exchange rates to estimate coefficients and form forecasts. This essay develops forecasting models for exchange rates using monthly data for the US dollar versus 37 (advanced and emerging/developing) currencies. The second essay incorporates behavioral economics by adding investor sentiment variables to macroeconomic models to form forecasts for exchange rates. In addition, I examine the predictive ability of a terms of trade index (in changes) both as a single predictor and as an added predictor in the uncovered interest rate parity model. Finally, I examine changes in commodity and oil prices (nominal and real) as predictors of changes in exchange rates. Some models provide promising results for some currencies using Pesaran-Timmermann (PT) statistics in both essays. In the first essay, models under the assumptions of anchoring-toward and optimism perform well. In the second essay, macroeconomic models augmented by behavioral factors outperform the White Noise (WN) model for several countries. The third essay of the dissertation addresses model uncertainty. It focuses on combining forecasts from various individual models introduced in the second essay. I use standard (e.g., equal weights) and new forecast combination approaches to form combined forecasts. Using a regularization technique (Ridge regression), I apply linear and convex combination estimates to combine forecasts. I propose Directional Prediction as a new weighting approach. The results indicate that for several countries, the linear combination (Ridge regression) weighting approach has proportions of correct direction of changes in exchange rates greater than 0.5, which means it performs better than the WN model.

The Behavioral Economics of Foreign Exchange Markets

Author : Robert Schmidt
Publisher : Peter Lang Publishing
ISBN 13 :
Total Pages : 362 pages
Book Rating : 4.3/5 ( download)

DOWNLOAD NOW!

Book Synopsis The Behavioral Economics of Foreign Exchange Markets by : Robert Schmidt

Download or read book The Behavioral Economics of Foreign Exchange Markets written by Robert Schmidt and published by Peter Lang Publishing. This book was released on 2006 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with psychological factors, which may be important for understanding the observable exchange rate movements. Thus, the study belongs to the new research field of behavioral economics, which considers the relevance of psychological factors in economic contexts. The main objective of behavioral economists is to develop a more realistic view of the actual human behavior in the context of economics. Central to the concept of behavioral economics is the assumption that humans' actual behavior deviates from the ideal of economic rationality due to at least two reasons: first, decisions are usually based on an incomplete information basis and, second, the information processing of human beings is limited by their computational capacities. Due to these limitations people are forced to apply simple heuristics in information processing. Our aim is to analyze the relevance of simple heuristics in the context of foreign exchange markets. In our view, the decision situation in foreign exchange markets can serve as a prime example for decision situations in which simple heuristics are especially relevant as the complexity of the decision situation is very high.

The Psychology of the Foreign Exchange Market

Author : Thomas Oberlechner
Publisher : John Wiley & Sons
ISBN 13 : 0470012013
Total Pages : 278 pages
Book Rating : 4.4/5 (7 download)

DOWNLOAD NOW!

Book Synopsis The Psychology of the Foreign Exchange Market by : Thomas Oberlechner

Download or read book The Psychology of the Foreign Exchange Market written by Thomas Oberlechner and published by John Wiley & Sons. This book was released on 2005-07-08 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demystifies the foreign exchange market by focusing on the people who comprise it. Drawing on the expertise of the very professionals whose decisions help shape the market, Thomas Oberlechner describes the highly interdependent relationship between financial decision makers and news providers, showing that the assumption that the foreign exchange market is purely economic and rational has to be replaced by a more complex market psychology.

Resisting Mind Control

Author : Myles K. Leighton
Publisher : Apress
ISBN 13 : 9781484204702
Total Pages : 300 pages
Book Rating : 4.2/5 (47 download)

DOWNLOAD NOW!

Book Synopsis Resisting Mind Control by : Myles K. Leighton

Download or read book Resisting Mind Control written by Myles K. Leighton and published by Apress. This book was released on 2015-05-27 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Resisting Mind Control: Leveraging the Predictive Power of Behavioral Economics in Business Strategy reveals to general and business readers how the insights and tools of behavioral economics are being applied by companies to shape and predict customer behavior. Accurate prediction enables companies to design, launch, and perfect successful products, services, web sites, mobile applications, business models, marketing campaigns, and financial strategies. In result, companies improve their financial results, customer satisfaction, and employee productivity. In accessible language richly illustrated with examples and case studies, behavioral economist and startup consultant Myles Leighton explains the methods of behavioral economics that are used to identify, measure, and predict the irrational components in customer responses to specific business and marketing strategies. He shows how companies engineer their strategies to profit from consistent and generally unconscious irrational susceptibilities in their customers. He describes how predictive accuracy is honed through real-time empirical testing. Resisting Mind Control draws instructive parallels of corporations to governments, political parties, and interest groups, which increasingly harness the predictive power of behavioral economics to manipulate the behavior and sentiment of targeted constituents, voters, and supporters. What you’ll learn This practical book alerts general readers and teaches business readers how strategic leaders and tactical personnel in the financial, marketing, R&D, design, and IT departments of companies of all sizes and sectors deploy techniques informed by behavioral economics to achieve the following outcomes: boost business results optimize the ROI on marketing and social media campaigns enhance business strategies and work force productivity through gamification shape customer judgment and choice in predictable and profitable ways maximize the probability that a product launch goes viral Who this book is for Wary general readers and eager business readers who want to get up to speed on the ways that business leaders, entrepreneurs, and tactical personnel in the financial, marketing, R&D, design, and IT departments of corporations are applying behavioral economics to predict and manipulate customer behavior and maximize company profit.

Behavioral Predictive Modeling in Economics

Author : Songsak Sriboonchitta
Publisher : Springer Nature
ISBN 13 : 3030497283
Total Pages : 445 pages
Book Rating : 4.0/5 (34 download)

DOWNLOAD NOW!

Book Synopsis Behavioral Predictive Modeling in Economics by : Songsak Sriboonchitta

Download or read book Behavioral Predictive Modeling in Economics written by Songsak Sriboonchitta and published by Springer Nature. This book was released on 2020-08-05 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents both methodological papers on and examples of applying behavioral predictive models to specific economic problems, with a focus on how to take into account people's behavior when making economic predictions. This is an important issue, since traditional economic models assumed that people make wise economic decisions based on a detailed rational analysis of all the relevant aspects. However, in reality – as Nobel Prize-winning research has shown – people have a limited ability to process information and, as a result, their decisions are not always optimal. Discussing the need for prediction-oriented statistical techniques, since many statistical methods currently used in economics focus more on model fitting and do not always lead to good predictions, the book is a valuable resource for researchers and students interested in the latest results and challenges and for practitioners wanting to learn how to use state-of-the-art techniques.

Handbook of Exchange Rates

Author : Jessica James
Publisher : John Wiley & Sons
ISBN 13 : 1118445775
Total Pages : 674 pages
Book Rating : 4.1/5 (184 download)

DOWNLOAD NOW!

Book Synopsis Handbook of Exchange Rates by : Jessica James

Download or read book Handbook of Exchange Rates written by Jessica James and published by John Wiley & Sons. This book was released on 2012-05-29 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Handbook of Exchange Rates “This book is remarkable. I expect it to become the anchor reference for people working in the foreign exchange field.” —Richard K. Lyons, Dean and Professor of Finance, Haas School of Business, University of California Berkeley “It is quite easily the most wide ranging treaty of expertise on the forex market I have ever come across. I will be keeping a copy close to my fingertips.” —Jim O’Neill, Chairman, Goldman Sachs Asset Management How should we evaluate the forecasting power of models? What are appropriate loss functions for major market participants? Is the exchange rate the only means of adjustment? Handbook of Exchange Rates answers these questions and many more, equipping readers with the relevant concepts and policies for working in today’s international economic climate. Featuring contributions written by leading specialists from the global financial arena, this handbook provides a collection of original ideas on foreign exchange (FX) rates in four succinct sections: • Overview introduces the history of the FX market and exchange rate regimes, discussing key instruments in the trading environment as well as macro and micro approaches to FX determination. • Exchange Rate Models and Methods focuses on forecasting exchange rates, featuring methodological contributions on the statistical methods for evaluating forecast performance, parity relationships, fair value models, and flow–based models. • FX Markets and Products outlines active currency management, currency hedging, hedge accounting; high frequency and algorithmic trading in FX; and FX strategy-based products. • FX Markets and Policy explores the current policies in place in global markets and presents a framework for analyzing financial crises. Throughout the book, topics are explored in-depth alongside their founding principles. Each chapter uses real-world examples from the financial industry and concludes with a summary that outlines key points and concepts. Handbook of Exchange Rates is an essential reference for fund managers and investors as well as practitioners and researchers working in finance, banking, business, and econometrics. The book also serves as a valuable supplement for courses on economics, business, and international finance at the upper-undergraduate and graduate levels.

Why Smart People Make Big Money Mistakes--and how to Correct Them

Author : Gary Belsky
Publisher : Simon and Schuster
ISBN 13 : 0684844931
Total Pages : 234 pages
Book Rating : 4.6/5 (848 download)

DOWNLOAD NOW!

Book Synopsis Why Smart People Make Big Money Mistakes--and how to Correct Them by : Gary Belsky

Download or read book Why Smart People Make Big Money Mistakes--and how to Correct Them written by Gary Belsky and published by Simon and Schuster. This book was released on 1999 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Gary Belsky and Thomas Gilovich reveal why people spend, invest, save, borrow, and, most important, waste money. They provide fascinating insights into all manner of occurrencestipping, gambling, plane crashes, lotteries, and game shows, to name just a few - to explain behavioral economics in a way that is as entertaining as it is informative. Best of all, they offer dozens of useful tips that will help us overcome the blind spots that cloud our financial judgment and will allow us to enjoy greater financial freedom."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved

Advances in Behavioral Economics

Author : Colin F. Camerer
Publisher : Princeton University Press
ISBN 13 : 1400829119
Total Pages : 769 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis Advances in Behavioral Economics by : Colin F. Camerer

Download or read book Advances in Behavioral Economics written by Colin F. Camerer and published by Princeton University Press. This book was released on 2011-12-12 with total page 769 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession. This book assembles the most important papers on behavioral economics published since around 1990. Among the 25 articles are many that update and extend earlier foundational contributions, as well as cutting-edge papers that break new theoretical and empirical ground. Advances in Behavioral Economics will serve as the definitive one-volume resource for those who want to familiarize themselves with the new field or keep up-to-date with the latest developments. It will not only be a core text for students, but will be consulted widely by professional economists, as well as psychologists and social scientists with an interest in how behavioral insights are being applied in economics. The articles, which follow Colin Camerer and George Loewenstein's introduction, are by the editors, George A. Akerlof, Linda Babcock, Shlomo Benartzi, Vincent P. Crawford, Peter Diamond, Ernst Fehr, Robert H. Frank, Shane Frederick, Simon Gächter, David Genesove, Itzhak Gilboa, Uri Gneezy, Robert M. Hutchens, Daniel Kahneman, Jack L. Knetsch, David Laibson, Christopher Mayer, Terrance Odean, Ted O'Donoghue, Aldo Rustichini, David Schmeidler, Klaus M. Schmidt, Eldar Shafir, Hersh M. Shefrin, Chris Starmer, Richard H. Thaler, Amos Tversky, and Janet L. Yellen.

Behavioral Economy Methods Predict

Author : Johnny Ch LOK
Publisher :
ISBN 13 : 9781980893646
Total Pages : 316 pages
Book Rating : 4.8/5 (936 download)

DOWNLOAD NOW!

Book Synopsis Behavioral Economy Methods Predict by : Johnny Ch LOK

Download or read book Behavioral Economy Methods Predict written by Johnny Ch LOK and published by . This book was released on 2018-04-21 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral economics generally begins with assumption rooted in psychological regularity and asks what follows from those assumptions. An alternative approach is to work backward, regarding a psychological regularity as a conclusion that must be proved an explanation that must be derived from deeper assumption before we fully understand and accept it. The alternative approach is caused by a fashionable new direction in economic theory and psychology too, which is to explain human behavior as the product of evolution. However, we may not believe that behavior of intelligent, modern people lived in socialization and cultural influence can only be understood by guessing what their lives were like and how their brains might have adapted generally. There are other models that treat psychological regularity as a conclusion to be proved rather than an assumption to be used. Such models usually begin with an observed regularity. However, I think economic factor can influence consumers to make who feel the more reasonable psychological decision to make the more right behavior. Thus, economy and psychology has close relationship to influence consumer individual decision. Economists have for deriving behavior from first principles and rationalizing apparent irrationality. Theories of this sort are useful behavioral economics and what fresh predictions do they make. However, critics have pointed out that behavioral economics is not a unified theory, but is instead a collection of tools and ideas. This is true. However, some economists believe that economic models do not derive much predictive power from the single tool of utility maximization. The goal of behavioral economic is to develop better tools that, in some cases, can do both jobs at once. Economists like to point out the natural division of labor between scientific disciplines: Psychologists should concern to individual minds, and economists to behavior in games, markets, and economies. But the division of labor is only efficient if there is effective coordinaton, and all too often economists fail to conduct intellectual trade with those who have a comparative advantage in understanding individual human behavior. The only question is whether the implicit psychology in economics is good psychology or bad psychology. We think it is simply unwise, and inefficient to do economics without paying some attention to good psychology.

Misbehaving: The Making of Behavioral Economics

Author : Richard H. Thaler
Publisher : W. W. Norton & Company
ISBN 13 : 0393246779
Total Pages : 502 pages
Book Rating : 4.3/5 (932 download)

DOWNLOAD NOW!

Book Synopsis Misbehaving: The Making of Behavioral Economics by : Richard H. Thaler

Download or read book Misbehaving: The Making of Behavioral Economics written by Richard H. Thaler and published by W. W. Norton & Company. This book was released on 2015-05-11 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the Nobel Prize in Economics Get ready to change the way you think about economics. Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world. Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining. Shortlisted for the Financial Times & McKinsey Business Book of the Year Award

The Foreign Exchange Market

Author : Richard T. Baillie
Publisher : Cambridge University Press
ISBN 13 : 9780521396905
Total Pages : 280 pages
Book Rating : 4.3/5 (969 download)

DOWNLOAD NOW!

Book Synopsis The Foreign Exchange Market by : Richard T. Baillie

Download or read book The Foreign Exchange Market written by Richard T. Baillie and published by Cambridge University Press. This book was released on 1989 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The flotation of exchange rates in the early 1970s saw a significant increase in the importance of foreign exchange markets and in the interest shown in them. Apart from the consequent institutional changes, this period also witnessed a revolution in macroeconomic analysis and finance theory based on the concept of rational expectations. This book provides an integrated approach to recent developments in the understanding of foreign exchange markets. It begins by charting the institutional background and looks at the recent history of movements in some of the major exchange rates. The theoretical sections focus on the economic and finance theory of the asset market approach, the macroeconomic models developed from this approach, and on interest rate parity theory. The empirical chapters draw on the authors' own research from a high quality set of exchange rate and interest rate data. The statistical properties of exchange rates are analysed; the relationship between spot and forward rates is examined; and the modelling and impact of new information on the forward and spot relationship is considered. The final chapter is devoted to the estimation and testing of exchange rate models.

Handbook of Behavioral Economics - Foundations and Applications 1

Author :
Publisher : Elsevier
ISBN 13 : 0444633898
Total Pages : 749 pages
Book Rating : 4.4/5 (446 download)

DOWNLOAD NOW!

Book Synopsis Handbook of Behavioral Economics - Foundations and Applications 1 by :

Download or read book Handbook of Behavioral Economics - Foundations and Applications 1 written by and published by Elsevier. This book was released on 2018-09-27 with total page 749 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics

Behavioral Law and Economics

Author : Eyal Zamir
Publisher : Oxford University Press
ISBN 13 : 0190901349
Total Pages : 641 pages
Book Rating : 4.1/5 (99 download)

DOWNLOAD NOW!

Book Synopsis Behavioral Law and Economics by : Eyal Zamir

Download or read book Behavioral Law and Economics written by Eyal Zamir and published by Oxford University Press. This book was released on 2018 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past few decades, economic analysis of law has been challenged by a growing body of experimental and empirical studies that attest to prevalent and systematic deviations from the assumptions of economic rationality. While the findings on bounded rationality and heuristics and biases were initially perceived as antithetical to standard economic and legal-economic analysis, over time they have been largely integrated into mainstream economic analysis, including economic analysis of law. Moreover, the impact of behavioral insights has long since transcended purely economic analysis of law: in recent years, the behavioral movement has become one of the most influential developments in legal scholarship in general. Behavioral Law and Economics offers a state-of-the-art overview of the field. Eyal Zamir and Doron Teichman survey the entire body of psychological research that lies at the basis of behavioral analysis of law, and critically evaluate the core methodological questions of this area of research. Following this, the book discusses the fundamental normative questions stemming from the psychological findings on bounded rationality, and explores their implications for setting the law's goals and designing the means to attain them. The book then provides a systematic and critical examination of the contributions of behavioral studies to all major fields of law including: property, contracts, consumer protection, torts, corporate, securities regulation, antitrust, administrative, constitutional, international, criminal, and evidence law, as well as to the behavior of key players in the legal arena: litigants and judicial decision-makers.

Exchange Rate Economics

Author : Ronald MacDonald
Publisher : Routledge
ISBN 13 : 1134838220
Total Pages : 334 pages
Book Rating : 4.1/5 (348 download)

DOWNLOAD NOW!

Book Synopsis Exchange Rate Economics by : Ronald MacDonald

Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""

Handbook of the Economics of Finance

Author : G. Constantinides
Publisher : Elsevier
ISBN 13 : 9780444513632
Total Pages : 698 pages
Book Rating : 4.5/5 (136 download)

DOWNLOAD NOW!

Book Synopsis Handbook of the Economics of Finance by : G. Constantinides

Download or read book Handbook of the Economics of Finance written by G. Constantinides and published by Elsevier. This book was released on 2003-11-04 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arbitrage, State Prices and Portfolio Theory / Philip h. Dybvig and Stephen a. Ross / - Intertemporal Asset Pricing Theory / Darrell Duffle / - Tests of Multifactor Pricing Models, Volatility Bounds and Portfolio Performance / Wayne E. Ferson / - Consumption-Based Asset Pricing / John y Campbell / - The Equity Premium in Retrospect / Rainish Mehra and Edward c. Prescott / - Anomalies and Market Efficiency / William Schwert / - Are Financial Assets Priced Locally or Globally? / G. Andrew Karolyi and Rene M. Stuli / - Microstructure and Asset Pricing / David Easley and Maureen O'hara / - A Survey of Behavioral Finance / Nicholas Barberis and Richard Thaler / - Derivatives / Robert E. Whaley / - Fixed-Income Pricing / Qiang Dai and Kenneth J. Singleton.

Household Production and Consumption

Author : Nestor E. Terleckyj
Publisher :
ISBN 13 :
Total Pages : 696 pages
Book Rating : 4.F/5 ( download)

DOWNLOAD NOW!

Book Synopsis Household Production and Consumption by : Nestor E. Terleckyj

Download or read book Household Production and Consumption written by Nestor E. Terleckyj and published by . This book was released on 1975 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Economics of World War I

Author : Stephen Broadberry
Publisher : Cambridge University Press
ISBN 13 : 1139448358
Total Pages : 363 pages
Book Rating : 4.1/5 (394 download)

DOWNLOAD NOW!

Book Synopsis The Economics of World War I by : Stephen Broadberry

Download or read book The Economics of World War I written by Stephen Broadberry and published by Cambridge University Press. This book was released on 2005-09-29 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.