Macroeconomists have been caricatured either as credulous savants in love with the beauty of their mathematical models or as free-market fundamentalists who admit no doubt as to the market's wisdom. In this book, Kartik Athreya draws a truer picture, offering a nontechnical description of prominent ideas and models in macroeconomics, arguing for their value as interpretive tools as well as thei…
The global economic crisis of 2008-2009 seemed a crisis not just of economic performance but also of the system's underlying political ideology and economic theory. But a second Great Depression was averted, and the radical shift to New Deal-like economic policies predicted by some never took place. Perhaps the correct response to the crisis is simply careful management of the macroeconomic cha…
Too rapidly rising carbon taxes or the introduction of subsidies for renewable energies induce owners of fossil fuel reserves to increase their extraction rates for fear of their reserves becoming worthless. Fossil fuel use is thus brought forward. The resulting acceleration of global warming and counter-productivity of well-intended climate policy has been coined the Green Paradox. This volume…
How organizations--including Google, StubHub, Airbnb, and Facebook--learn from experiments in a data-driven world.OCLC-licensed vendor bibliographic record.
An analysis of how economic theories can be used to understand disordered and pathological gambling that calls on empirical evidence about behavior and the brain and argues that addictive gambling is the basic form of all addiction.
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…
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…
Originally published as "L'?economie ?a la mesure de l'univers," "La Limite de l'utile," "Notes pour L'?economie ?a la mesure de l'univers," and "Notes pour La Limite de l'utile" Editions Gallimard, Paris, 1976.""The first English translation of key texts by Georges Bataille pertaining to The Accursed Share that also map out his transition from "dissident surrealist" to systematic thinker"--OCL…