The Theory of Money and Financial Institutions

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Publisher : MIT Press
ISBN 13 : 9780262693110
Total Pages : 472 pages
Book Rating : 4.6/5 (931 download)

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Book Synopsis The Theory of Money and Financial Institutions by : Martin Shubik

Download or read book The Theory of Money and Financial Institutions written by Martin Shubik and published by MIT Press. This book was released on 1999 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.

A Handbook of International Trade in Services

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Publisher : Oxford University Press
ISBN 13 : 019923521X
Total Pages : 675 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis A Handbook of International Trade in Services by : Aaditya Mattoo

Download or read book A Handbook of International Trade in Services written by Aaditya Mattoo and published by Oxford University Press. This book was released on 2008 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title provides a comprehensive introduction to the key issues in trade and liberalization of services. Providing a useful overview of the players involved, the barriers to trade, and case studies in a number of service industries, this is ideal for policymakers and students interested in trade.

Three Essays in International Finance

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Publisher : Stanford University
ISBN 13 :
Total Pages : 132 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Three Essays in International Finance by : Byong-Ju Lee

Download or read book Three Essays in International Finance written by Byong-Ju Lee and published by Stanford University. This book was released on 2011 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays on international finance. The first essay is "Exchange rates and Fundamentals". A new open interest rate parity condition that takes account of economic fundamentals is developed from stochastic discount factors (SDFs) of two countries. Through this parity condition, business cycles or fundamentals are linked to exchange rates. Key empirical findings from this parity condition are as follows. First, this model beats the random walk hypothesis: economic fundamentals explain exchange rate movements for high interest rate currencies. Exchange rates of low interest rate currencies act like a random walk because they are less correlated with fundamentals owing to their low risk. For example, U.S. business cycles explain the direction of changes in exchange rates against the dollar. The same thing is true for Japan. Second, this model resolves the forward premium puzzle: the forward premium puzzle is not a general characteristic as regarded in previous studies. It happens when the risk awareness of investors is low, during economic expansions and for low risk currencies. The second essay is "Carry Trade and Global Financial Instability". Carry trade, an opportunistic investment strategy that takes advantage of interest rate differential across countries, is identified the cause of the large-scale depreciations of peripheral currencies in the later half of 2008. A simultaneous equations model, which is derived from a conceptual partial equilibrium model for a local foreign exchange market, is estimated from a cross-sectional sample. The results suggest that the larger appreciation of the yen than the dollar was brought about by a lack of the local supply of the yen rather than a more severe crunch of yen credits. The third essay is "The Economic Origin of Letters of Credit". This essay discusses the economic origin of letters of credit, an instrument widely used in international trade. A game theoretical analysis shows that letters of credit improve efficiency in trade settlements, increasing returns in trade. A few notable facts on letters of credit are discussed. First, the new institution is adopted by merchant banks to maximize their profits and in the process, an improvement in efficiency of international transactions is obtained. Second, the organization established by the legacy institution, bills of exchange, played a critical role in adopting the new institution. Third, the legal enforcement is not essential in this economic institution. Finally, two drivers are identified that improve efficiency of transactions: concentration and projection.

Policies for Prosperity

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Publisher : MIT Press
ISBN 13 : 9780262700368
Total Pages : 530 pages
Book Rating : 4.7/5 (3 download)

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Book Synopsis Policies for Prosperity by : James Tobin

Download or read book Policies for Prosperity written by James Tobin and published by MIT Press. This book was released on 1989 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: In these timely essays, Nobel prize�winning economist James Tobin shows how Keynesian economics offers corrective treatment for the economic ailments we have faced under the Ford, Carter, and Reagan administrations.Essays in the first part of the book focus on theory and policy in Keynesian economics, particularly on the modern anti-Keynesian movements of the 1970s and 1980s. Tobin's writings on the events, controversies, doctrines, and policies of the Reagan era make up the book's second section, Essays in part three continue to discuss the Reagan revolution, focusing on fiscal policies and presenting some general macroeconomic principles that can be invoked to remedy the situation; those in part four are concerned more specifically with the conduct of monetary policy. A fifth section addresses inflation stagflation, and unemployment, recommending income policies that Tobin believes must become a "permanent tool of macroeconomic policy." The book concludes with several essays on various aspects of political economy, including a timely reminder that economic policies should serve ethical values.James Tobin, who received the Nobel prize in economics in 1981, is Sterling Professor of Economics at Yale.

Political Essays On the Nature and Operation of Money, Public Finances, and Other Subjects

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Publisher : Legare Street Press
ISBN 13 : 9781016031226
Total Pages : 0 pages
Book Rating : 4.0/5 (312 download)

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Book Synopsis Political Essays On the Nature and Operation of Money, Public Finances, and Other Subjects by : Pelatiah Webster

Download or read book Political Essays On the Nature and Operation of Money, Public Finances, and Other Subjects written by Pelatiah Webster and published by Legare Street Press. This book was released on 2022-10-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Three Essays in International Trade

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Publisher :
ISBN 13 :
Total Pages : 226 pages
Book Rating : 4.:/5 (79 download)

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Book Synopsis Three Essays in International Trade by : Yingying Xu

Download or read book Three Essays in International Trade written by Yingying Xu and published by . This book was released on 2008 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Essays on Political Economy

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Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.0/5 (18 download)

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Book Synopsis Essays on Political Economy by : Frédéric Bastiat

Download or read book Essays on Political Economy written by Frédéric Bastiat and published by . This book was released on 1853 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Three Essays on International Trade Policy

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Publisher :
ISBN 13 :
Total Pages : 208 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Three Essays on International Trade Policy by : Alan Keith Fox

Download or read book Three Essays on International Trade Policy written by Alan Keith Fox and published by . This book was released on 2000 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:

World Development Indicators 2010

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Publisher : World Bank Publications
ISBN 13 : 0821382322
Total Pages : 493 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis World Development Indicators 2010 by : World Bank

Download or read book World Development Indicators 2010 written by World Bank and published by World Bank Publications. This book was released on 2010-04-22 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looking for accurate, up-to-date data on development issues? 'World Development Indicators' is the World Bank's premier annual compilation of data about development. This indispensable statistical reference allows you to consult over 800 indicators for more than 150 economies and 14 country groups in more than 90 tables. It provides a current overview of the most recent data available as well as important regional data and income group analysis in six thematic sections: World View, People, Environment, Economy, States and Markets, and Global Links. 'World Development Indicators 2010' presents the most current and accurate development data on both a national level and aggregated globally. It allows you to monitor the progress made toward meeting the Millennium Development Goals endorsed by the United Nations and its member countries, the World Bank, and a host of partner organizations. These goals, which focus on development and the elimination of poverty, serve as the agenda for international development efforts.

Essays on Some Unsettled Questions of Political Economy

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Publisher :
ISBN 13 :
Total Pages : 188 pages
Book Rating : 4.R/5 (5 download)

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Book Synopsis Essays on Some Unsettled Questions of Political Economy by : John Stuart Mill

Download or read book Essays on Some Unsettled Questions of Political Economy written by John Stuart Mill and published by . This book was released on 1844 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Three Essays on Empirical Analysis of Trade

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Publisher :
ISBN 13 :
Total Pages : 244 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Three Essays on Empirical Analysis of Trade by : Terrie James Carolan

Download or read book Three Essays on Empirical Analysis of Trade written by Terrie James Carolan and published by . This book was released on 1996 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Triumph of the Market

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Publisher :
ISBN 13 : 9781551640624
Total Pages : 298 pages
Book Rating : 4.6/5 (46 download)

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Book Synopsis Triumph of the Market by : Edward Herman

Download or read book Triumph of the Market written by Edward Herman and published by . This book was released on 1997-02-04 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: **** The third edition (1990) is cited in Brandon-Hill. A text that focuses on the decision-making process which precedes and governs the selection of treatment of various pediatric orthopedic conditions. Each author provides the basic science that relates to the condition under discussion and the scientific basis for treatment decisions. This revised and updated edition is also completely reorganized, adding a second editor and 16 new authors. New chapters deal with orthopedic genetics, history taking and examination of the pediatric patient, syndromes and localized disorders affecting bone, neuromuscular disorders, and fracture treatment, a major portion of pediatric orthopedic practice. Thoroughly illustrated in bandw. Annotation copyright by Book News, Inc., Portland, OR

Essays on the Great Depression

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Publisher : Princeton University Press
ISBN 13 : 1400820278
Total Pages : 321 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Essays on the Great Depression by : Ben S. Bernanke

Download or read book Essays on the Great Depression written by Ben S. Bernanke and published by Princeton University Press. This book was released on 2009-01-10 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effects As chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930s—work for which he was later awarded the Nobel Prize. This influential work is collected in Essays on the Great Depression, an important account of the origins of the Depression and the economic lessons it teaches.

Three Essays on International Trade Policy and Political Economy

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Publisher :
ISBN 13 :
Total Pages : 320 pages
Book Rating : 4.:/5 (33 download)

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Book Synopsis Three Essays on International Trade Policy and Political Economy by : Inderjit Kohli

Download or read book Three Essays on International Trade Policy and Political Economy written by Inderjit Kohli and published by . This book was released on 1992 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Three Essays on International Trade and Multinational Firms

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Publisher :
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis Three Essays on International Trade and Multinational Firms by : Nathaniel P. S. Cook

Download or read book Three Essays on International Trade and Multinational Firms written by Nathaniel P. S. Cook and published by . This book was released on 2007 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Three Essays in Development Economics

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Publisher : Stanford University
ISBN 13 :
Total Pages : 147 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Three Essays in Development Economics by : David Russell Hansen

Download or read book Three Essays in Development Economics written by David Russell Hansen and published by Stanford University. This book was released on 2011 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is composed of three chapters. All three deal with topics in development economics. The first chapter examines the effects on village institutions of introducing formal financial institution options into the village. The second addresses the effects of government policy on educational investment and crime. The third tests the explanatory power of various explanations of the gender gap in math test scores. The first chapter examines the effects of a transition from a ``traditional'' economy based on an uncertain source of income, with risk fully insured away by one's neighbors in a social network through costly network ties, to a ``modern'' economy in which some agents have access to partial insurance at a lower cost. A theoretical model is used to show that village social networks can break down as some members of the village no longer need the insurance the social network provides, producing a reduction in welfare (if the costs of reducing moral hazard are not too high) for at least some individuals and possibly the village as a whole. This loss of welfare can occur even when networks provide other benefits to those belonging to them and is likely to be heterogeneous, depending on the opportunities and networks available to individuals. This paper tests these predictions using Indonesian data to examine the effect of a change in the banking institutions available to a community on the strength of social networks (measured by community participation) and welfare (measured by household expenditure and by child health). The analysis finds that changing financial institution availability in general does not influence community participation or welfare, but that financial institutions that primarily serve certain groups do relatively reduce the welfare of households not in those groups, which is consistent with the hypotheses generated by the model. Crime is an important feature of economic life in many countries, especially in the developing world. Crime distorts many economic decisions because it acts like an unpredictable tax on earnings. In particular, the threat of crime may influence people's willingness to invest in schooling or physical capital. The second chapter explores the questions "What influence do crime rates and levels of investment have on one another?" and "How do government policies affect the relationship between investment and crime?" by creating a simple structural model of crime and educational investment and attempting to fit this model to Mexican data. A method of simulated moments procedure is used to estimate parameters of the model and the estimated parameters are then used to carry out policy simulations. The simulations show that increasing spending on police or increasing the severity of punishment reduces crime but has little effect on educational investment. Increased educational subsidies increase educational investment but reduce crime only slightly. Thus, one type of policy is insufficient to accomplish the goals of both reducing crime and increasing education. The third chapter is joint work with Prashant Bharadwaj, Giacomo De Giorgi, and Christopher Neilson. Boys tend to have better performances than girls in mathematical testing; in particular, there are significantly more boys than girls among high achievers and the score distribution appears to have a longer right tail for boys. We confirm such results on several low- and middle-income countries. In particular we find that the gender gap is already present by age 10 and substantially increases by age 14 and 15. We propose and try to test a series of explanations for such a gap: (i) parental investment, (ii) ability, (iii) school resources, (iv) individual investment and effort (not tested directly), (v) competitive environment, and (vi) cultural norms. We conclude that none of our proposed explanations can account for a substantial portion of the gap.

Alexander Hamilton's Famous Report on Manufactures

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Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Alexander Hamilton's Famous Report on Manufactures by : United States. Department of the Treasury

Download or read book Alexander Hamilton's Famous Report on Manufactures written by United States. Department of the Treasury and published by . This book was released on 1892 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: