The NBER International Seminar on Macroeconomics brings together leading American and European economists to discuss a broad range of current issues in global macroeconomics. An international companion to the more American-focused NBER Macroeconomics Annual, the 2005 volume first explores macroeconomic issues of interest to all advanced economies, then analyzes topical questions concerning the …
An environmentalist maps the hidden costs of overconsumption in a globalized world by tracing the environmental consequences of five commodities.The Shadows of Consumption gives a hard-hitting diagnosis: many of the earth's ecosystems and billions of its people are at risk from the consequences of rising consumption. Products ranging from cars to hamburgers offer conveniences and pleasures; but…
In Money, Payments, and Liquidity, Ed Nosal and Guillaume Rocheteau provide a comprehensive investigation into the economics of money and payments by explicitly modeling trading frictions between agents. Adopting the search-theoretic approach pioneered by Nobuhiro Kiyotaki and Randall Wright, Nosal and Rocheteau provide a logically coherent dynamic framework to examine the frictions in the econ…
An investigation of the happiness-prosperity connection and whether economists can measure well-being.OCLC-licensed vendor bibliographic record.
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A conceptual and analytical framework for understanding economic institutions and institutional change.Markets are one of the most salient institutions produced by humans, and economists have traditionally analyzed the workings of the market mechanism. Recently, however, economists and others have begun to appreciate the many institution-related events and phenomena that have a significant impa…
Although general equilibrium theory originated in the late nineteenth century, modern elaboration and development of the theory began only in the 1930s and 1940s. This book focuses on the version of the theory developed in the second half of the twentieth century, referred to by Lionel McKenzie as the classical general equilibrium theory. McKenzie offers detailed and rigorous treatment of the c…
Articles and essays by the late Nobel Prize-winning economist on the life-cycle hypothesis, unemployment and monetary policy in the European Union, and other topics.This volume of papers, articles, and essays by the late Nobel Prize-winning economist Franco Modigliani contains writings published during the last decade of his life as well as three seminal earlier papers on the life-cycle hypothe…
In this spirited and provocative book, Edward Leamer turns an examination of the Heckscher--Ohlin framework for global competition into an opportunity to consider the craft of economics: what economists do, what they should do, and what they shouldn't do. Claiming "a lifetime relationship with Heckscher--Ohlin," Leamer argues that Bertil Ohlin's original idea offered something useful though vag…
In this book, Peter Diamond analyzes social security as a particular example of optimal taxation theory. Assuming a world of incomplete markets and asymmetric information, he uses a variety of simple models to illuminate the economic forces that bear on specific social security policy issues. The focus is on the degree of progressivity desirable in social security and the design of incentives t…