Macroeconomics Books
Edward Elgar Publishing Ltd Long-run Growth, Social Institutions and Living
Book SynopsisThis engaging book contains a set of original contributions to the much-debated issues of long-run economic growth in relation to institutional and social progress.It explores the mutual relationships between living standards, social habits, education and health systems, labour market regulation and participatory rules on one hand, and the growth of the economy on the other. These mutual relationships underpin the differences between long-run growth rates in different countries, and in their variations through time. The book also analyses fundamental historical, empirical and theoretical aspects of the many self-reinforcing mechanisms of growth, such as poverty traps or industrial take-offs. It offers a lively representation of the reasons why no lasting economic growth is possible without wider institutional, intellectual and ethical progress. Uncommitted to a specific overall economic theory, the contributors freely discuss their understanding of specific aspects of this complex subject.This stimulating integrated analysis of the main social drivers of economic growth will strongly appeal both to academic and practising economists, and to postgraduate students interested in growth theory and social studies.Table of ContentsContents: Introduction Arrigo Opocher and Neri Salvadori 1. Does Economic Growth Ultimately Lead to a ‘Noble Life’? A Comparative Analysis of the Predictions of Mill, Marshall and Keynes Arrigo Opocher 2. The Debate on Education Financing in the Classical Perspective Mario Pomini 3. The Role of the Public Sector in the Thought of Hyman Minsky Giuseppe Mastromatteo 4. Economic Progress and the Standard of Life: Notes on a Dynamic Approach to Needs and Consumption Davide Gualerzi 5. The Need for Standards in Students’ Grading Valentino Dardanoni and Salvatore Modica 6. Education and Endogenous Growth in the Neoclassical Tradition Mario Pomini 7. Education and Poverty in a Solow Growth Model Thomas Bassetti 8. Child Mortality Decline, Inequality and Economic Growth Tamara Fioroni 9. Health Funding, Inequality and Economic Growth Davide Dottori 10. Education, Change in Consumer Preferences and Growth Renato Balducci 11. Unemployment in a System of Labour-managed Firms Bruno Jossa 12. Regulated Wage Economy and Taxation Systems: A Long-run Welfare and Growth Theoretical Analysis and a Policy Exercise Luciano Fanti and Luca Gori 13. Sustainable Development and Energy Trends Simone Borghesi and Alessandro Vercelli 14. Human Needs, Sustainable Development and Public Policy: Learning from K.W. Kapp (1910–1976) Tommaso Luzzati 15. Participatory Planning of Economic Development: The Co-evolution of Economic Theory and Policy Martina Pignatti Morano 16. Political and Economic Interaction: Income Distribution and Economic Growth Francesco Purificato Index
£126.00
Edward Elgar Publishing Ltd Geography, Structural Change and Economic
Book SynopsisThe authors in this book regard the process of economic expansion as a non-homogeneous and multifaceted phenomenon, which has deeply affected human welfare, and cultural, social and political change. The book is a bridge between the theorists (Rosenstein-Rodan, Lewis, Myrdal, and Hirschmann) who in the post-war period analyzed regional inequalities, structural change and dualism, and the modern literature on economic growth. The latter has emphasized the existence of multiple equilibria, bifurcations and various types of dynamic complexity, and clarified the conditions for the emergence of phenomena such as cumulative causation, path dependence and hysteresis. These are the typical ingredients of structural change, economic development or underdevelopment.Investigating the 'mechanisms of economic development', this book will be of great interest to researchers and postgraduate students, especially those oriented towards the study of structural and geographical aspects of economic growth and development.Trade Review'. . . this book provides a coherent picture of new developments and applications in economic geography with regards to explaining structural change. There is a healthy mix of new theoretical developments and elaborations of the foundational neoclassical economic models, economic growth models, econometric modeling, and hypothesis testing.' -- Dayton M. Lambert, The Review of Regional Studies'The volume is carefully edited and has a nice general format. The index at the end should be of great help for people looking for specific topics. . . it is quite likely that scholars on geography and structural change will find at least some chapter quite relevant to their own research.' -- Ola Olsson, Papers in Regional ScienceTable of ContentsContents: Introduction Pasquale Commendatore, Neri Salvadori and Massimo Tamberi PART I: THE IMPACT OF GEOGRAPHICAL FACTORS: ASPECTS OF LOCATION AND SPECIALIZATION 1. Footloose Capital and Productive Public Services Pasquale Commendatore, Ingrid Kubin and Carmelo Petraglia 2. FDI, Mode of Entry and Corporate Governance Giuseppina Maria Chiara Talamo 3. Natural Resources and Social Conflict: An Explanation of Sub- Saharan Countries’ Stagnation Davide Fiaschi 4. The Changing Location of European Industry: A Twofold Geographical Perspective Eleonora Cutrini 5. Specialize Rightly or Decline Alessia Lo Turco and Massimo Tamberi 6. South–South Regional Trade Agreements, Comparative Advantage and Industrial Growth: Evidence from MERCOSUR Countries Alessia Lo Turco PART II: THE PROCESS OF STRUCTURAL CHANGE AND THE ROLE OF DUALISM 7. Myrdal, Growth Processes and Equilibrium Theories Carlo Panico and Maria Olivella Rizza 8. The Legacy of Dualism in New Growth Theory Salvatore Capasso and Maria Rosaria Carillo 9. Distribution of Agricultural Surplus and Industrial Takeoff Ennio Bilancini and Simone D’Alessandro 10. Dualism and the Big Push Giovanni Valensisi 11. Labour Productivity and Technological Capability: An Econometric Analysis on the Italian Regions Giulio Guarini Index
£124.00
Edward Elgar Publishing Ltd Monetary Policy Frameworks for Emerging Markets
Book SynopsisFinancial globalisation has made the formulation of monetary policy in emerging market economies increasingly complicated. This timely set of studies looks at the turmoil in global financial markets, which, coupled with volatile inflation, poses serious challenges for central banks in these countries. The book features a number of specially commissioned new papers from both front-line policymakers and researchers in developing and emerging market economies, which tackle the difficult issues currently being debated with increasing urgency by monetary policy theorists and policymakers around the world. They address questions such as: 'What monetary policy framework is most suitable for emerging market countries to confront the new challenges while they continue to open up to trade and financial flows?', 'What are the linkages between monetary stability and financial stability?' and 'Is inflation targeting or a fixed exchange rate regime preferable for developing and emerging markets?' Providing unique insights on the interaction between the theory and practice of monetary policy in emerging markets, this book will be of great interest to academics and students of economics, economic policy and development economics. Policymakers will also find this to be a useful and thought-provoking read.Table of ContentsContents: PART I: FRAMEWORKS FOR MONETARY POLICY 1. Monetary Policy Challenges for Emerging Market Economies Gill Hammond, Ravi Kanbur and Eswar Prasad 2. The Pursuit of Monetary and Financial Stability in Emerging Market Economies Bandid Nijathaworn and Piti Disyatat 3. Implementation of Inflation Targets in Emerging Markets José De Gregorio 4. Whatever Became of the Monetary Aggregates? Charles Goodhart 5. Fear of Appreciation: Exchange Rate Policy as a Development Strategy Eduardo Levy-Yeyati and Federico Sturzenegger 6. Aid Reversals, Credibility and Macroeconomic Policy Edward Buffie, Christopher Adam, Stephen O’Connell and Catherine Pattillo PART II: COUNTRY EXPERIENCES 7. The Nexus between Monetary and Financial Stability: The Experience of Selected Asian Economies Sukudhew Singh 8. A Framework for Independent Monetary Policy in China Marvin Goodfriend and Eswar Prasad 9. Monetary Policy Transmission in India Rakesh Mohan and Michael Patra 10. Inflation Targeting and Exchange Rate: Notes on Brazil’s Experience Paulo Vieira da Cunha, Daniela Silva Pires and Wenersamy Ramos de Alcântara 11. Czech Experience with Inflation Targeting Ludek Niedermayer 12. Monetary and Fiscal Policy Mix in Serbia: 2002–07 Diana Dragutinovic 13. Aid Volatility, Monetary Policy Rules and the Capital Account in African Economies Christopher Adam, Stephen O’Connell and Edward Buffie 14. Regional Asymmetries in the Impact of Monetary Policy on Prices: Evidence from Africa David Fielding 15. Monetary Policy and Inflation Modeling in a More Open Economy in South Africa Janine Aron and John Muellbauer 16. Inflation Management and Monetary Policy Formulation in Ghana Nii Kwaku Sowa and Philip Abradu-Otoo 17. Monetary Policy in Zambia: Experience and Challenges Denny H. Kalyalya Index
£131.00
Edward Elgar Publishing Ltd The Political Economy of Macroeconomic Policy
Book SynopsisEduardo Wiesner's book makes an important contribution to the understanding of development by blending together the interdependent issues of (i) macroeconomic performance and volatility, (ii) equity and distributive justice, (iii) fiscal deficits and the redistributive effectiveness of social public expenditures, and (iv) the demand for the 'right' institutions and for policy reform in Latin America. It does this by examining recent macroeconomic crises from a political economy perspective, and finds that information is the critical algorithm that links together the demand for macroeconomic stability, macroeconomic performance and, ultimately, distributive justice. This volume is geared toward those interested in the political economy of development and policy reform in general and in Latin America, including academics, policy makers, and the general reader.Trade Review'This book is a must read for anyone interested in policy reforms in Latin America. The author combines tremendous experience in the field and deep knowledge of economic theory: a rare combination.' -- Alberto Alesina, Harvard University, US'One of the key contributions of this book is its insistence on the importance of policy, institutional and political accountability for evaluating and enhancing macroeconomic performance and for reducing inequality.' -- John B. Taylor, Stanford University and Hoover Institution, US'Dr Wiesner combines a command of modern political and economic theories and detailed knowledge of Latin America to clarify why reform of policies and institutions has proved so difficult in that region. His general conclusion is that initial conditions of inequality and poverty reduce the demand for reform, but he finds that the process manifests itself differently in different countries. He identifies several necessary conditions for breaking out of these vicious circles. Scholars and practitioners alike can learn from his impressively thorough and detailed analysis.' -- Avinash K. Dixit, Princeton University, US'This book argues insightfully that underdevelopment is the result of the political economy difficulties some countries have in the effectiveness of public expenditures in general and of social pro-poor expenditures in particular. The policy implication is that reform strategies should focus on identifying the "wrong" political incentives in public expenditures.' -- Ricardo Hausmann, Harvard University, USTable of ContentsContents: Part I: Conceptual Framework Introduction 1. Overview: The Current Status and Prospects of the Reform Process 2. The Political Economy of Macroeconomic Policy Making in Latin America Part II: Country Narratives and Comparative Economics 3. Argentina: Blinded by Hindsight – The Economics and Politics of Learning 4. Brazil: The Market Enhancing Role of Political Economy Factors 5. Chile: The Right Mix of Policies and Institutions 6. Colombia: Fairness Perception and the Political Tolerance for Macroeconomic Policy Reform 7. Costa Rica: The Effectiveness of Political Economy Compromise 8. Peru: From Macroeconomic Volatility to Credibility Building References Index
£53.15
Edward Elgar Publishing Ltd The Causes, Costs and Compensations of Inflation:
Book SynopsisThis book explores the causes, costs and benefits of inflation. It argues that while the cause of inflation is essentially monetary, the costs and benefits of inflation lie in inflation's distortion of the economy's responses to real shocks.The book begins by securing the Quantity Theory of Money from certain critiques. The theory is defended from the 'fiscal theory of the price level' by a refinement of the theory of money demand, and from post Keynesianism by the construction of a theory of the supply of inside money. To cope with the endogeneity of outside money, a simple and tractable neo-Wicksellian theory of inflation is advanced, which is shown to exhibit a striking homology with the Quantity Theory. The author then traces the costliness of inflation, not to any disturbance of the money market, but to the damage inflation does to the bond market's function of sharing out disturbances to consumption caused by technological shocks. The same damage, however, imparts an egalitarian dynamic to the accumulation of wealth, which will not occur without risky inflation.The Causes, Costs and Compensations of Inflation will be of great interest to policy makers, central bankers, researchers, and both post-graduate and undergraduate students in macroeconomics, money and banking.Trade Review'It is difficult to give justice to this intriguing book within the confines of a short review.' -- Ernst Juerg Weber, History of Economics Review'Coleman's book provides an impressively clear, lively, and intuitive discussion of three of the most important issues in all of monetary economics. I recommend it highly to all readers with an interest in these issues.' -- Peter N. Ireland, Journal of Economic Literature'William Coleman's book offers a highly original and insightful discussion of the state of modern monetary theory. Professor Coleman covers difficult issues with a lightness of touch that makes for a very readable discussion. It will benefit students as well as professional economists and policymakers.' -- Kevin Dowd, University of Nottingham, UKTable of ContentsContents: Part I: Preliminaries 1. A Statement of the Problem Part II: Inflation in a Risk Free World 2. The Theory of the Demand for Money 3. A Theory of the Supply of Money 4. The Quantity Theory of Money 5. Inflation Without a Quantity of Money: The Wicksellian Approach Part III: Inflation in a Risky World 6. Technological Risk and the Social Function of Real Debt 7. Monetary Risk and the Social Function of Money Debt 8. The Quantity Theory in a Risky World 9. Wicksellianism in a Risky World Part IV: The Cost of Inflation 10. The Cost of Inflation as the Cost of Moneylessness 11. The Cost of Inflation as the Cost of Creditlessness 12. A Summarization of Results References Index
£46.95
Edward Elgar Publishing Ltd Taxation and the Promotion of Human Happiness: An
Book SynopsisGeorge Warde Norman was a Director of the Bank of England from 1821 to 1872, a key figure behind the Bank Charter Act of 1844, and one of the founders of the Political Economy Club. In 1821 G.W. Norman began an essay on taxation as part of the utilitarian programme. His vision was for increased human happiness through a wholesale reform of the revenue system founded upon direct taxation in the form of a comprehensive property tax. He continued to work on the essay over many years, never losing his faith in the utilitarian ideal or his belief in the property tax solution as the key to fiscal happiness. This book represents G.W. Norman's final thoughts, themselves a manifestation of a significant element in the development of 19th century policy and institutions. This edition of a hitherto unknown work demonstrates the importance of utilitarianism to liberal thinking on taxation. As such, this unique book will appeal to specialists in the history of economic thought and to historians, especially those with an interest in the history of public finance, an area in which G.W. Norman's contribution has been almost entirely overlooked. Providing a new and previously unexploited source, it should also prove to be a fascinating read for postgraduates working in these fields.Trade Review'. . . the book is an interesting take on the role and purpose of taxation. . .' -- Sheila Killian, Tax Justice Focus'. . . Denis O'Brien has provided us with a gem of a book, aided by his long-standing acquaintance and knowledge of this fascinating Norman tax manuscript. . . In short, this book cannot be ignored by those interested in the history and nature of tax reform.' -- Peter Groenewegen, History of Economics ReviewTable of ContentsContents: Preface Introduction Part I: Introduction 1. Political Economy and Taxation 2. Advantages of Taxation Part II: Qualities of Taxation 3. Taxes and Other Sources of Revenue 4. Computability 5. Simplicity 6. Frugality in Collection 7. Constancy 8. Divisibility 9. Popularity 10. Noninterference 11. Equality 12. Uncorruptiveness 13. Unvexatiousness 14. Unevasibility Part III: Review of Existing or Supposed Taxes 15. Motive Influencing the Framers of Taxes 16. General Observations on Indirect Taxes 17. Custom House Duties 18. The Excise Monopolies 19. Taxes on Particular Classes or Persons 20. Direct Taxes on Objects of Luxury 21. Taxes on Travelling and the Conveyance of Intelligence 22. Taxes on Justice 23. Taxes on the Transfer of Property, on Knowledge, on Prudence, on Ingenuity, and on Health 24. Taxes on Rent, Tythe, Land Tax 25. Continuation of Taxes on Rent, Poor Rate, House and Window Tax 26. The Poll-Tax 27. Legacy Duty and Stamp Duty on Probates of Wills 28. The Assessed Taxes and Stamp Duties 29. Turnpike and Bridge Tolls, Barrières and Harbour and Light Dues 30. Taxes on Vices 31. The Income Tax in England 32. An Improved Property Tax 33. Proposals for Reform Index
£104.00
Edward Elgar Publishing Ltd European Economics at a Crossroads
Book SynopsisAs Europe moves toward an integrated academic system, European economics is changing. This book discusses that change, along with the changes that are happening simultaneously within the economics profession. The authors argue that modern economics can no longer usefully be described as ?neoclassical?, but is much better described as complexity economics. The complexity approach embraces rather than assumes away the complexities of social interaction. The authors also argue that despite all the problems with previous European academic structures, those structures allowed for more diversity than exists in US universities, and thus were often ahead of US universities in exploring new cutting-edge approaches. The authors further argue that by trying to judge themselves by US-centric measures and to copy US universities, the European economics profession is undermining some of the strengths of the older system ? strengths on which it should be building. While the authors agree that European economics needs to go through major changes in the coming decade, they argue that by building on Europe?s strengths, rather than trying to follow a US example, Europe will be more likely to become the global leader in economics in the coming decades rather than a second-rate copy of the US. The book begins with two chapters spelling out the authors? view of the changes in economics and European economics. This is followed by 11 interviews with a diverse set of innovative European economists from a range of European countries. In the interviews these European economists reflect on the ongoing changes in economics generally and in European economics specifically. These interviews demonstrate how the economics profession is moving away from traditional neoclassical economics into a dynamic set of new methods and approaches (incorporating work in behavioral economics, experimental economics, evolutionary game theory and ecological approaches, complexity and nonlinear dynamics, methodological analysis, and agent-based modelling) that the authors classify as complexity economics. This fascinating and easy-to-read book will prove a stimulating and thought-provoking read for those with an interest in economics, European education, and the nature of academic disciplines generally.Table of ContentsContents: Preface Part I: The Future of European Economics 1. European Economics at a Crossroads 2. The Complexity Revolution in Economics Part II: Conversations 3. Alan Kirman 4. Ernst Fehr 5. Cars Hommes 6. Mauro Gallegati and Laura Gardini 7. Tönu Puu 8. Søren Johansen and Katarina Juselius 9. Geoffrey Hodgson 10. Joan Martínez Alier 11. Robert Boyer Part III: Reflections 11. János Kornai 12. Reinhard Selten Bibliography Index
£102.00
Edward Elgar Publishing Ltd European Economics at a Crossroads
Book SynopsisAs Europe moves toward an integrated academic system, European economics is changing. This book discusses that change, along with the changes that are happening simultaneously within the economics profession. The authors argue that modern economics can no longer usefully be described as ?neoclassical?, but is much better described as complexity economics. The complexity approach embraces rather than assumes away the complexities of social interaction. The authors also argue that despite all the problems with previous European academic structures, those structures allowed for more diversity than exists in US universities, and thus were often ahead of US universities in exploring new cutting-edge approaches. The authors further argue that by trying to judge themselves by US-centric measures and to copy US universities, the European economics profession is undermining some of the strengths of the older system ? strengths on which it should be building. While the authors agree that European economics needs to go through major changes in the coming decade, they argue that by building on Europe?s strengths, rather than trying to follow a US example, Europe will be more likely to become the global leader in economics in the coming decades rather than a second-rate copy of the US. The book begins with two chapters spelling out the authors? view of the changes in economics and European economics. This is followed by 11 interviews with a diverse set of innovative European economists from a range of European countries. In the interviews these European economists reflect on the ongoing changes in economics generally and in European economics specifically. These interviews demonstrate how the economics profession is moving away from traditional neoclassical economics into a dynamic set of new methods and approaches (incorporating work in behavioral economics, experimental economics, evolutionary game theory and ecological approaches, complexity and nonlinear dynamics, methodological analysis, and agent-based modelling) that the authors classify as complexity economics. This fascinating and easy-to-read book will prove a stimulating and thought-provoking read for those with an interest in economics, European education, and the nature of academic disciplines generally.Table of ContentsContents: Preface Part I: The Future of European Economics 1. European Economics at a Crossroads 2. The Complexity Revolution in Economics Part II: Conversations 3. Alan Kirman 4. Ernst Fehr 5. Cars Hommes 6. Mauro Gallegati and Laura Gardini 7. Tönu Puu 8. Søren Johansen and Katarina Juselius 9. Geoffrey Hodgson 10. Joan Martínez Alier 11. Robert Boyer Part III: Reflections 11. János Kornai 12. Reinhard Selten Bibliography Index
£35.95
Edward Elgar Publishing Ltd Human Development in the Era of Globalization:
Book SynopsisHonoring Keith Griffin's more than 40 years of fundamental contributions to the discipline of economics, the papers in this volume reflect his deep commitment to advancing the well-being of the world's poor majority and his unflinching willingness to question conventional wisdom as to how this should be done. Four overarching themes recur in Keith Griffin's work and this book: the need to both eradicate poverty and redress inequalities in the distribution of wealth within and among nations; the impact of growth on inequality, and conversely inequality's impact on growth; the political economy of policy-making; and the need for openness to heterogeneity in both analytic tools and in policy recommendations. The volume begins with an introduction by the editors followed by a paper by Keith Griffin. In succeeding chapters the contributors explore strategies for reducing poverty and inequality, and provide perspectives on issues such as human development, the rural/urban divide in China, and biodiversity and sustainability. Students, researchers, policymakers and NGO analysts exploring issues in development economics, development studies, alternative economic systems, globalization, environmental sustainability, inequality and well-being will find this book of great interest.Trade Review'. . . it is this reviewer's opinion that the papers in this volume are of a very high scientific standard. Those professionals and graduate students who want to enter the area of economic development in a serious way will find this volume extremely useful.' -- Theodore P. Lianos, South-Eastern Europe Journal of Economics'This volume provides a very high quality set of papers on the relationship between globalization and human development. . . any one with interest in this wide ranging subject matter would find the volume an interesting and engaging read.' -- Global Business ReviewTable of ContentsContents: Introduction James K. Boyce, Stephen Cullenberg, Prasanta K. Pattanaik and Robert Pollin A Witness of Two Revolutions Keith B. Griffin PART I: PERSPECTIVES ON CHINESE DEVELOPMENT 1. The Fall in Chinese Poverty: Issues of Measurement, Incidence and Cause Carl Riskin 2. The Rural–Urban Divide and the Evaluation of Political Economy in China John Knight, Li Shi and Lina Song 3. Socialist Fetters? Land Tenure and Economic Growth in Post-Mao Rural China Mark D. Brenner PART II: AGRICULTURE AND RURAL POVERTY 4. A Future for Small Farms? Biodiversity and Sustainable Agriculture James K. Boyce 5. The Impact of Policy Reforms on Rural Poverty in Brazil: Evidence from Three States in the 1990s Steven M. Helfand and Edward S. Levine 6. Has Columbia Finally Found an Agrarian Reform that Works? Albert Berry PART III: DIMENSIONS OF HUMAN DEVELOPMENT 7. Death and Development Bob Sutcliffe 8. On Comparing Functioning Bundles and Capability Sets Prasanta K. Pattanaik 9. Environment, Poverty and Development Charles Perrings PART IV: GLOBALIZATION AND INEQUALITY 10. Globalization and the Transition to Egalitarian Development Robert Pollin 11. Gender Equality, Public Finance and Globalization Diane Elson 12. Class Transition in the Age of Globalization: Examples from the Rural Sectors in India and Kenya Anjan Chakrabarti, Stephen Cullenberg and Mwangi wa Gîthînji 13. What Will Become of the Welfare State? Victor D. Lippit PART V: STRATEGIES FOR REDUCING POVERTY AND INEQUALITY 14. The Structure and Distribution of Personal Income and Poverty Reduction: A Case Study of Bangladesh During the 1990s Azizur Rahman Khan and Binayak Sen 15. Poverty as Injustice: Refocusing the Policy Agenda Rehman Sobhan 16. Economic Policies and Poverty Reduction in Asia and the Pacific: Alternatives to Neoliberalism Terry McKinley Appendix: Curriculum Vitae for Professor Keith B. Griffin Index
£53.15
Edward Elgar Publishing Ltd Handbook of Research on Complexity
Book SynopsisComplexity research draws on complexity in various disciplines. This Handbook provides a comprehensive and current overview of applications of complexity theory in economics. The 15 chapters, written by leading figures in the field, cover such broad topic areas as conceptual issues, microeconomic market dynamics, aggregation and macroeconomics issues, econophysics and financial markets, international economic dynamics, evolutionary and ecological-environmental economics, and broader historical perspectives on economic complexity.This Handbook presents perspectives at a broad and high level of current cutting edge research in complexity, and will be of great interest to academics concerned with all aspects of economics and in particular economic theory, macroeconomics and evolutionary economics.Trade Review'This volume is a solid introduction to the topics of economic complexity for both the general economist and provides new results that will interest the economists already well versed in the field of economic complexity.' -- Troy Tassier, Eastern Economic Journal'Complexity theory, complexity science, a general theory of complex systems: these subjects are the height of fashion and for good reason and so a book with this title is very welcome. . . a valuable book, particularly because the chapter-by-chapter bibliographies are a major resource. . . the strength of the book lies in its historical reviews and the bibliographies that support them. . . it will be an important reference book and will contribute to the larger complexity project yet to be undertaken.' -- Alan Wilson, Environment and Planning BTable of ContentsContents: PART I: CONCEPTUAL OVERVIEWS 1. Introduction J. Barkley Rosser, Jr. 2. Complexity and the Economy W. Brian Arthur 3. Computational and Dynamic Complexity in Economics J. Barkley Rosser, Jr. 4. A Computable Economist’s Perspective on Computational Complexity K. Vela Velupillai PART II: MARKET DYNAMICS 5. Bounded Rationality and Learning in Complex Markets Cars H. Hommes 6. Oligopoly Dynamics Michael Kopel PART III: MACROECONOMIC ISSUES 7. Complexity and Aggregation Alan Kirman 8. On Simplicity and Macroeconomic Complexity Richard H. Day PART IV: ECONOPHYSICS AND FINANCIAL MARKETS 9. Applications of Statistical Physics in Finance and Economics Thomas Lux 10. On the Analysis of Time Series with Nonstationary Increments Joseph L. McCauley, Kevin E. Bassler and Gemunu H. Gunaratne PART V: INTERNATIONAL ECONOMICS 11. Exchange Rate Dynamics: A Nonlinear Survey Frank H. Westerhoff 12. Complex Systems Modeling and International Development Hans-Peter Brunner and Peter Allen PART VI: EVOLUTIONARY AND ECOLOGICAL-ENVIRONMENTAL ECONOMICS 13. Subgame Perfection in Evolutionary Dynamics with Recurrent Perturbations Herbert Gintis, Ross Cressman and Thijs Ruijgrok 14. Complex Dynamics in Ecological-Economic Systems J. Barkley Rosser, Jr. PART VII: BROADER HISTORICAL PERSPECTIVES 15. Complexity and Austrian Economics Roger Koppl 16. Complexity and the History of Economic Thought David Colander Index
£56.95
Edward Elgar Publishing Ltd Macroeconomic Theory and its Failings:
Book SynopsisThis innovative book focuses on the current global financial crisis and the inadequacies of the economic theories being used to guide policy. In so doing, it tackles the economic theories that have been used firstly to understand its causes and thereafter to contain the damage it has brought. The contributors bring together different perspectives from across the entire spectrum of economic opinion to examine what is likely to be the single most important economic problem of our time. The unifying feature is that all of the authors disagree with the standard mainstream neo-classical models being applied in attempting to comprehend what has gone on and then, more importantly, to devise policies to bring this recession to an end. The problems that modern macroeconomics may have caused in being the basis for economic policy are addressed, and it is concluded that the deepening problems found in economies across the developed world are not due to governments having refused to take the advice of their economic advisors but are in many respects due to their actually having taken this advice. Suggesting alternative ways of understanding how economies work so that other types of policies might be used instead, this book will prove a fascinating read not just for scholars and policy-makers concerned with our macroeconomic and financial problems but for anyone interested in deepening their understanding of our contemporary economic debate.Trade Review‘This admirable and comprehensive collection should prove of interest to anyone seeking a deeper understanding of the financial crisis.’ -- Tyler Cowen, George Mason University, US‘The Great Crash of 2008 has raised profound questions concerning the orientation of modern economics and the adequacy of its theory. Those justifiably looking for alternatives will find this book invaluable. It contains a rich array of alternative perspectives on the crisis, and it will hopefully help stimulate the further theoretical developments that are so urgently required.’ -- Geoffrey M. Hodgson, University of Hertfordshire, UKTable of ContentsContents: Introduction Steven Kates 1. The Ordinary Economics of an Extraordinary Crisis Peter J. Boettke and William J. Luther 2. Did Bernanke’s ‘Creditism’ Aggravate the Financial Crisis of 2008? Tim Congdon 3. Toward a New Sustainable Economy Robert Costanza 4. Looking at the Crisis through Marx – Or Is It the Other Way About? Ben Fine 5. Incentive Divergence and the Global Financial Crisis J. Patrick Gunning 6. The Microeconomic Foundations of Macroeconomic Disorder: An Austrian Perspective on the Great Recession of 2008 Steven Horwitz 7. The Crisis in Economic Theory: The Dead End of Keynesian Economics Steven Kates 8. The Coming Depression and the End of Economic Delusion Steve Keen 9. Reflections on the Global Financial Crisis J.E. King 10. An Islamic Economic Perspective on the Global Financial Crisis Mervyn Lewis 11. Bankers Gone Wild: The Crash of 2008 Robert E. Prasch 12. The Governance of Financial Transactions Martin Ricketts 13. Excess Debt and Asset Deflation Jan Toporowski 14. An Institutionalist Perspective on the Global Financial Crisis Charles J. Whalen 15. Minsky, the Global Money-Manager Crisis, and the Return of Big Government L. Randall Wray Index
£111.00
Edward Elgar Publishing Ltd Say’s Law and the Keynesian Revolution: How
Book SynopsisThis highly original contribution examines one of the most controversial concepts in the history of economics - the true meaning of the Law of Markets. This has been a contentious issue since the publication of Keynes's General Theory, but has also divided economists since it first emerged almost two centuries ago in the writings of James Mill. This book discusses the change in the understanding of the nature of the business cycle wrought by the General Theory whose major innovation in overturning Say's Law was to introduce demand deficiency into mainstream economic thought.The volume provides a robust and innovative exposition of the crucial point of division between classical and Keynesian economics, demonstrating that the role of demand deficiency was the fundamental issue at stake. Steven Kates first discusses Keynes's interpretation of Say's Law before documenting its development within classical theory. He then charts the development of post-General Theory interpretations of Say's Law, challenging Keynes's definition which was captured in the phrase 'supply creates its own demand'. The author also attempts to unravel the vast literature on the progress made by Keynes between his Treatise on Money published in 1930 and the General Theory, published six years later. He suggests that the crucial point in the origins of the General Theory was Keynes's discovery of Malthus's writings on Say's Law at the very depths of the Great Depression in 1932.This provocative book will be required reading for scholars and students interested in the history of economic thought, the history of macroeconomics and the Keynesian revolution.Trade Review'Say's Law and the Keynesian Revolution is a book par excellence. I have never encountered a text that explains the business cycle so cogently and provides a thorough repudiation of Keynesian economics to boot. It is a great contribution to economic literature.'Table of ContentsContents: Introduction 1. Say’s Law in the Structure of the General Theory 2. J.-B. Say, James Mill and Robert Torrens 3. David Ricardo 4. John Stuart Mill 5. Say’s Law in English Classical Theory 6. Say’s Law in the Classical Theory of the Business Cycle 7. Keynes’s Discovery of Say’s Law 8. Influences Deepening Keynes’s Understanding of Say’s Law 9. The Early Post-General Theory Evolution of Say’s Law 10. Modern Interpretations of Say’s Law 11. Critics of the Modern Interpretation 12. Conclusion Appendix Bibliography Index
£38.90
Edward Elgar Publishing Ltd World Economic Performance: Past, Present and
Book SynopsisWorld economic performance over the last 50 years has been spectacular. The postwar period has witnessed impressive growth rates in Western Europe and Japan, and in recent times China and India. This new book discusses these issues and tackles topical questions such as; what are the socio-economic and institutional factors that have contributed to this impressive performance? Will China and India continue to grow at the same rate over the next two decades? What are the prospects for Japan, the US and other advanced economies? The book brings together contributions by eminent scholars including the late Angus Maddison, Professors Justin Lin, Bob Gordon, Ross Garnaut, Bart van Ark and others to provide answers to these fascinating questions. The chapters analyse the economic performance of selected countries including China, India, Japan, Indonesia and the US, as well as Western Europe, Latin America and developing countries as a group. The time period of the study is from 1850 to the present and includes forecasts to 2030.This well-documented book will be of considerable interest to development economists and country specialists working on countries such as China and India, economic historians who are interested in explaining the growth performance of countries, economists and economic statisticians who are interested in the measurement issues, and international organizations such as the OECD, World Bank and the UN. General readers and non-specialists who are interested in the world economic performance will also find much to interest them in this book.Contributors include: D. Blades, K. Fukao, R. Garnaut, R.J. Gordon, A.A. Hofman, D. Lal, A. Maddison, S. Menshikov, M. O'Mahony, D.S.P. Rao, O. Saito, A. Szirmai, M.P. Timmer, B. van Ark, P. van der Eng, F. Villarreal, H.X. Wu, J. Yifu LinTrade Review‘All in all, this extensive volume reads well, is thought provoking, and will stimulate further research. Angus would be certainly proud. I can only recommend you to rush to your library and get a copy before someone else does. You will not regret it!’ -- Leandro Prados de la Escosura, EH. Net‘Not only is this excellent collection of papers a fitting tribute to Angus Maddison, it is also a great resource for thinking about future patterns of global economic growth - both in the BRICS and the OECD - based on key insights from historical experience.’ -- Nicholas Crafts, University of Warwick, UK‘Angus Maddison may no longer be with us, but his spirit is very much alive. This collection of essays - including one by Maddison himself - shows how the methods he pioneered continue to shed new light on the comparative performance of nations and inspire successive generations of scholars.’ -- Barry Eichengreen, University of California at Berkeley, US‘The distinguished editors, leading authorities in the field of comparative quantitative economic development, have gathered a stellar group of authors to address arguably the most challenging question of our time: understanding development dynamics over time and across countries. They are to be congratulated for this comprehensive, stimulating and insightful volume. It is a fitting tribute to the late Angus Maddison, an intellectual giant in the study of long-term economic development, to whom the book is dedicated.’ -- Hal Hill, Australian National UniversityTable of ContentsContents: 1. Introduction D.S. Prasada Rao and Bart van Ark 2. Six Transformations in China: 960–2030 Angus Maddison 3. The Needham Puzzle, the Weber Question and China’s Miracle: Long Term Performance since the Sung Dynasty Justin Yifu Lin 4. An Indian Miracle? Deepak Lal 5. Analysis of Russian Performance since 1990 and Future Outlook Stanislav Menshikov 6. Japan’s Alternating Phases of Growth and Future Outlook Kyoji Fukao and Osamu Saito 7. Making the International System Work for the Platinum Age Ross Garnaut 8. Total Factor Productivity and Economic Growth in Indonesia Pierre van der Eng 9. Explaining Success and Failure in Economic Development Adam Szirmai 10. Past, Present and Future Economic Growth in Latin America André A. Hofman and Francisco Villarreal 11. Europe’s Productivity Performance in Comparative Perspective: Trends, Causes and Projections Bart van Ark, Mary O’Mahony and Marcel P. Timmer 12. Revisiting US Productivity Growth over the Past Century with a View of the Future Robert J. Gordon Epilogue: Life and Work of Angus Maddison Confessions of a Chiffrephile Angus Maddison Research Objectives and Results, 1952–2002 Angus Maddison A Story Behind Each Number – Angus Maddison (1926–2010) Derek Blades, Bart van Ark and Harry X. Wu Index
£134.00
Edward Elgar Publishing Ltd The Rise of China and Structural Changes in Korea
Book SynopsisThis book brings together studies conducted by researchers in East Asian countries who seek to better understand the impact of China's rise and the consequent policy challenges.The expert contributors illustrate that the rise of China and its integration with the rest of the world is one of the most important developments in the global economy. Over the past thirty years or so, China's economy has grown at nearly ten percent per annum with the expansion of the modern, export-oriented industrial sector, to become the third largest economy in the world and the second largest in trade. This book reviews the economic growth of East Asian countries since the 1990s and the various impacts that the rise of China has had on these countries. In particular, it addresses policy challenges faced in coping with the rise of China and maintaining economic growth.This timely book will strongly appeal to academics and researchers focusing on East Asia and China as well as those interested in international trade, development and economic growth.Table of ContentsContents: Introduction Takatoshi Ito and Chin Hee Hahn PART I: CHINA AS A GROWTH ENGINE OF ASIA AND THE WORLD 1. Post-1990s’ East Asian Economic Growth Danny Quah 2. China’s Economic Rise and its Impact Zhang Yunling 3. China’s Rise and East Asian Economies: Towards a Sino-Centric Regional Grouping? John Wong PART Ⅱ: IMPACTS ON KOREA’S ECONOMY 4. Understanding the Post-Crisis Growth of the Korean Economy: Growth Accounting and Cross-Country Regessions Chin Hee Hahn and Sukha Shin 5. The Economic Growth of Korea Since the 1990s: Identifying Contributing Factors from Demand and Supply Sides Seok-Kyun Hur PART Ⅲ: IMPACTS ON KOREAN FIRMS AND WORKERS 6. China’s Rise and Production and Investment Growth in Korean Manufacturing Industries: Channels and the Effects Chin Hee Hahn and Yong-Seok Choi 7. The Impact of Outward FDI on Export Activities: Evidence from the Korean Case Siwook Lee 8. The Rise of the Chinese Economy and Korea’s Job Growth Dae Il Kim PART Ⅳ: IMPACTS ON OTHER COUNTRIES 9. The Rise of China and the Sustained Recovery of Japan Shin-ichi Fukuda 10. East Asian Production Networks and the Rise of China Fukunari Kimura 11. The Rise of China and Structural Change in Thailand Kanit Sangsubhan Index
£121.00
Edward Elgar Publishing Ltd Population Aging and the Generational Economy: A
Book SynopsisOver coming decades, changes in population age structure will have profound implications for the macroeconomy - influencing economic growth, generational equity, human capital, saving and investment, and the sustainability of public and private transfer systems. How the future unfolds will depend on key actors in the generational economy: governments, families, financial institutions, and others. This path-breaking book provides a comprehensive analysis of the macroeconomic effects of changes in population age structure across the globe. The result of a substantial seven-year research project involving over 50 economists and demographers from Africa, Asia, Europe, Latin America and the United States, the book draws on a new and comprehensive conceptual framework - National Transfer Accounts - to quantify the economic lifecycle and economic flows across generations. It presents comprehensive estimates of both public and private economic flows between generations, and emphasizes the global nature of changes in population age structure which are affecting rich and poor countries alike. This unique and informative book will prove an invaluable reference tool for a wide ranging audience encompassing: students, researchers, and academics in fields such as demography, aging, public finance, economic development, macroeconomics, gerontology and national income accounting; policymakers and advisers focusing on areas of the public sector such as education, health, pensions, other social security programs, tax policy, and public debt; and policy analysts at international agencies such as the World Bank, the IMF and the UN.Trade Review‘While there already exists a crowded body of publications addressing the effect of an aging population on the economy, this monograph is most outstanding in presenting a global, in-depth analysis of the implications thereby generated for 23 developed and developing countries. . . Scholars, researchers, and practitioners everywhere will benefit immensely from this comprehensive work.’ -- H.I. Liebling, Choice‘Ron Lee and Andrew Mason’s Population Aging and the Generational Economy is a demographic and economic tour-de-force. Their collaborative, intercontinental. . . study of aging, consumption, labor supply, saving, and private and public transfers is the place to go to understand global aging and its myriad and significant economic challenges and opportunities.’ -- – Laurence Kotlikoff, Boston University, US‘The culmination of. . . work by Lee, Mason, and their collaborators from around the world to extend Samuelson’s framework to accommodate realistic demography, empirical measurement of age-specific earnings, consumption, tax payments, and benefit receipts, the studies. . . demonstrate the power of this integrated economic-demographic framework to advance our understanding of critical public policy challenges faced by countries at different stages of demographic transition and population aging.’ -- Robert Willis, University of Michigan, US‘Lee and Mason have done scholars and practitioners a magnificent service by undertaking this comprehensive, compelling, and supremely innovative examination of the economic consequences of changes in population age structure. The book is a bona fide crystal ball. It will be a MUST READ for the next decade!’ -- David Bloom, Harvard School of Public Health, USTable of ContentsContents: Preface PART I: FUNDAMENTAL PRINCIPLES AND CONCEPTS 1. Population Aging and the Generational Economy: Key Findings Andrew Mason and Ronald Lee 2. Theoretical Aspects of National Transfer Accounts Ronald Lee and Andrew Mason 3. Introducing Age into National Accounts Andrew Mason and Ronald Lee 4. Lifecycles, Support Systems, and Generational Flows: Patterns and Change Ronald Lee and Andrew Mason PART II: COMPARATIVE ANALYSES OF AGE AND THE MACROECONOMY 5. Labor Income Over the Lifecycle Sang-Hyop Lee and Naohiro Ogawa 6. Consumption Over the Lifecycle: An International Comparison An-Chi Tung 7. The Rise of the Intergenerational State: Aging and Development Tim Miller 8. Private Transfers in Comparative Perspective Ronald Lee and Gretchen Donehower 9. Asset-based Flows from a Generational Perspective Andrew Mason, Naohiro Ogawa, Amonthep Chawla and Rikiya Matsukura PART III: COUNTRY STUDIES OF AGE AND THE MACROECONOMY A. Overviews of the Generational Economy 10. How Intergenerational Transfers Finance the Lifecycle Deficit in Spain Concepció Patxot, Elisenda Rentería, Miguel Sánchez-Romero and Guadalupe Souto 11. National Transfer Accounts for Austria: Low Levels of Education and the Generosity of the Social Security System Jože Sambt and Alexia Prskawetz 12. The Significance of Inter-age Economic Transfers in Chile Jorge Bravo and Mauricio Holz 13. The Economic Lifecycle and Intergenerational Redistribution in Mexico Iván Mejía-Guevara 14. National Transfer Accounts for Finland Risto Vaittinen and Reijo Vanne B. The Economic Lifecycle 15. The Changing Shape of the Economic Lifecycle in the United States, 1960 to 2003 Ronald Lee, Gretchen Donehower and Tim Miller 16. Labor Income and Consumption Profiles: The Case of Germany Fanny A. Kluge 17. Slovenia: Independence and the Return to the Family of European Market Economies Jože Sambt and Janez Malačič 18. Changes in Patterns of Philippine Lifecycle Consumption and Labor Income between 1994 and 2002 Rachel H. Racelis and J.M. Ian Salas 19. National Transfer Accounts for Kenya: The Economic Lifecycle in 1994 Germano Mwabu, Moses K. Muriithi and Reuben G. Mutegi C. Systems of Intergenerational Flows 20. Intergenerational Resource Allocation in the Republic of Korea Chong-Bum An, Young-Jun Chun, Eul-Sik Gim, Namhui Hwang and Sang-Hyop Lee 21. Idiosyncrasies of Intergenerational Transfers in Brazil Cassio M. Turra, Bernardo L. Queiroz and Eduardo L.G. Rios-Neto 22. The Changing Patterns of China’s Public Services Ling Li, Qiulin Chen and Yu Jiang 23. Intergenerational Redistribution in Sweden’s Public and Private Sectors Daniel Hallberg, Thomas Lindh, Gustav Öberg and Charlotte Thulstrup 24. Public Transfer Flows between Generations in Uruguay Marisa Bucheli and Cecilia González 25. The Structure of Generational Public Transfer Flows in Nigeria Adedoyin Soyibo, Olanrewaju Olaniyan and Akanni O. Lawanson 26. The Role of Familial Transfers in Supporting the Lifecycle Deficit in India Laishram Ladusingh and M.R. Narayana D. Issues Related to the Generational Economy 27. The Elderly as Latent Assets in Aging Japan Naohiro Ogawa, Rikiya Matsukura and Amonthep Chawla 28. Living Arrangements and Support for the Elderly in Taiwan An-Chi Tung and Nicole Mun Sim Lai 29. Transfer Accounts in Costa Rica’s Mixed Economy Under Rapidly Changing Demographic Conditions Luis Rosero-Bixby, Paola Zúñiga-Brenes and Andrea Collado 30. The Support System for Indonesian Elders: Moving Toward a Sustainable National Pension System Maliki 31. Incorporating Time into the National Transfer Accounts: The Case of Thailand Mathana Phananiramai 32. National Transfer Accounts in Hungary: Contribution Asset and Returns in a Pay-as-you-go Pension Scheme Róbert I. Gál, Vera Gergely and Márton Medgyesi PART IV: APPENDIX TABLES Glossary Index
£179.00
Edward Elgar Publishing Ltd Handbook of Research Methods on Social
Book SynopsisDefining 'social entrepreneurship' has in the past proved problematic, and debate continues concerning what it does and does not entail and encompass. This unique book frames the debates surrounding the phenomenon and argues that many of the difficulties relating to the study of social entrepreneurship are rooted in methodological issues. Highlighting these issues, the book sets out ideas and implications for researchers using alternative methodologies. Contributors expertly present practical guides for researchers, setting out appropriate strategies and methods that can be adopted to explore and understand social entrepreneurship. Chapters deal with research strategies such as storytelling, action research and the case study, as well as the methods appropriate for understanding discourse, large data sets, and networks. The book also explores some challenges for researchers, and will be of particular interest to early career researchers or researchers first approaching the field. Contributors: M. Bachmann, S. D'Alessandro, K. Kumar, A.F. McKenny, J. Ormiston, J. Ruskin, F. Salignac, R.G. Seymour, J.C. Short, C. Steyaert, M. Tasker, G. Tyge Payne, C. Webster, L. Westberg, H. WinzarTable of ContentsContents: Introduction Richard G. Seymour PART I: CURIOSITY 1. Understanding the Social in Social Entrepreneurship Richard G. Seymour 2. Researching Social Entrepreneurship Richard G. Seymour PART II: POSTURE 3. Listening to Narratives Chris Steyaert and Michel Bachmann 4. Participating in Research Mathew Tasker, Linda Westberg and Richard G. Seymour 5. Bounding Research Settings K. Kumar and Jarrod Ormiston PART III: GATHERING 6. Discourse Analysis Fanny Salignac 7. Social Network Analysis Cynthia Webster and Jennifer Ruskin 8. Surveys and Data Sets Steven D’Alessandro and Hume Winzar 9. Drawing and Verifying Conclusions Richard G. Seymour PART IV: VOICE 10. The Challenge for Researchers Aaron F. McKenny, Jeremy C. Short and G. Tyge Payne Index
£142.00
Edward Elgar Publishing Ltd Unemployment, Recession and Effective Demand: The
Book SynopsisIn the midst of the current world economic crisis, many claim there is a necessity to return to the Marxian and Keynesian traditions in order to better understand the dynamics of market economies. This book is an important step in that direction. It presents a critical examination of the foundations of macroeconomics as developed in the traditions of Marx, Keynes and Kalecki, which are contrasted with the current mainstream. Particular attention is given to the problem of market forms and their relevance for macroeconomics. Professional economists and postgraduate students in economics, in particular those concerned with macroeconomics and the history of economic thought in the 20th century, will find this insightful resource invaluable. This book should be required reading for a large proportion of the economics profession who are dissatisfied with the mainstream.Contents: Foreword Preface 1. Introduction 2. The Marxian Notion of a Monetary Economy and the Critique of Say's Law 3. General Overproduction Crises 4. Keynes s Critique of Say s Law 5. Keynesian Underemployment Equilibria 6. A Critique of Keynes s Microfoundations 7. Kaleckian Macroeconomics: An Outline 8. The Problem of Market Forms in Modern Macroeconomics 9. Concluding Remarks A. A Formalization of Marx s Schemes of Reproduction B. Effects of Wage Changes in Keynes s Model C. Price Determination and Income Distribution in KaleckiTrade Review‘Unemployment, Recession and Effective Demand is a fine example of how critical analysis and debate about fundamental issues should be carried on. Claudio Sardoni does not pull his punches, but he criticises with courtesy in a learned and fair-minded way. His writings are a role model of proper procedure allied with cumulative persuasion through weight of evidence, sound scholarship and argument.’ -- From the foreword by G.C. Harcourt’There is a great deal to comment in this book. The structure of the argument is concise and easy to follow. Sardoni leads the reader logically from one point to the next in such a way that there is little doubt where we have been, where are we going, or why. The line between ''principles of'' and ''recent controversies in'' can be exceedingly fine when treating complex theoretical issues in brief, but it is a line that Sardoni walks with aplomb. This approach makes the book perfectly accessible to all readers with advanced economic training; in fact, there is much to be gained even by specialists in the field from Sardoni's argument. Given the structure of the book, it is ideally suited for young researchers of the graduate or post-graduate level, and even for neoclassical economists shaken by the most recent failure of mainstream models. It appears that this notion is in the back of Sardoni's mind when he composed chapter 8, which culminates in an appeal to greater plurality in economics. It may be, though, that this optimism is misplaced. Casual inspection of the recent literature published in''reputable'' journals unfortunately shows mainstream economists to be doing exactly what Sardoni advises them against through the ''uncritical reproduction of essentially the same model, enriched by some minor variations''.’ -- James Andrew Felkerson, Review of Keynesian Economics’This volume is a welcome update of an earlier book, Marx and Keynes on Economic Recession, published in 1987.’ -- Jo Michell, Eronomk IssuesTable of ContentsContents: Foreword by G.C. Harcourt Preface 1. Introduction 2. The Marxian Notion of a Monetary Economy and the Critique of Say's Law 3. General Overproduction Crises 4. Keynes’s Critique of Say’s Law 5. Keynesian Underemployment Equilibria 6. A Critique of Keynes’s Microfoundations 7. Kaleckian Macroeconomics: An Outline 8. The Problem of Market Forms in Modern Macroeconomics 9. Concluding Remarks A. A Formalization of Marx’s Schemes of Reproduction B. Effects of Wage Changes in Keynes’s Model C. Price Determination and Income Distribution in Kalecki Bibliography Index
£90.00
Edward Elgar Publishing Ltd A Modern Guide to Keynesian Macroeconomics and
Book SynopsisThis unique and comprehensive 'modern guide' presents state-of-the-art surveys covering the main areas of macroeconomics and economic policy by well-known post-Keynesian authors. The chapters explore intriguing and important issues including: the history and methods of post-Keynesian economics money, credit and central banks growth and income distribution post-Keynesian macroeconomics as an alternative to the New Consensus the macroeconomics of unemployment and labor market issues European economic policies open economy models of distribution and growth international monetary and global economics financialisation and financial crisis. This well-documented book will prove to be the essential guide for researchers and graduate students in macroeconomics and political economy. It will also prove inspiring to a wider audience interested in modern Keynesian macroeconomics. Contributors:P. Arestis, R.A. Blecker, A.K. Dutt, G.A. Dymski, E. Hein, H. Herr, D.R. Howell, M. Lavoie, O. Onaran, E. StockhammerTrade Review’For more than a decade, most macroeconomists convinced themselves they were witnessing a "Great Moderation". Many Keynesians saw instead the accumulation of a fragility and potential instability that have become dramatically manifest since 2007. The premise of this book is that the financial crisis and Great Recession necessitate a revival of Keynesian macroeconomics, emphasizing the central roles of effective demand, money and finance in modern capitalism. Comprising essays on all aspects of macroeconomic theory and policy, the book will prove invaluable for scholars and graduate students seeking to acquaint themselves with the frontiers of modern Keynesian macroeconomics.’ -- Mark Setterfield, Trinity College’The essays in this book are of the highest quality and give a substantial account of a strand of current heterodox thought.’ -- Victoria Chick, Wirtschaft und GesellschaftTable of ContentsContents: Introduction Eckhard Hein and Engelbert Stockhammer 1. History and Methods of Post-Keynesian Economics Marc Lavoie 2. Money, Credit and Central Banks in Post-Keynesian Economics Marc Lavoie 3. Growth and Income Distribution: A Post-Keynesian Perspective Amitava Krishna Dutt 4. Keynesian Economics and the New Consensus in Macroeconomics Philip Arestis 5. A Post-Keynesian Macroeconomic Model of Inflation, Distribution and Employment Eckhard Hein and Engelbert Stockhammer 6. The Macroeconomics of Unemployment Engelbert Stockhammer 7. Institutions, Aggregate Demand and Cross-Country Employment Performance: Alternative Theoretical Perspectives and the Evidence David R. Howell 8. European Economic and Monetary Union Policies from a Keynesian Perspective Philip Arestis 9. Open Economy Models of Distribution and Growth Robert A. Blecker 10. Globalisation, Macroeconomic Performance and Distribution Özlem Onaran 11. International Monetary and Financial Architecture Hansjörg Herr 12. ‘Financialisation’, Distribution and Growth Eckhard Hein 13. Keynesian Approaches to Financial Crisis Gary A. Dymski Index
£139.00
Edward Elgar Publishing Ltd Twenty-First Century Macroeconomics: Responding
Book SynopsisThe authors and editors of this book challenge traditional assumptions about economic growth, and develop the elements of a reoriented macroeconomics that takes account both of environmental impacts and social equity. Policies including carbon trading, revenue recycling, and reorientation of private and social investment are analyzed, providing insight into new paths for economic development with flat or negative carbon emissions. These issues will be crucial to macroeconomic and development policies in the twenty-first century.What are the likely economic effects of climate change? What are the costs of substantial action to avert climate change? What economic policies can be effective in responding to climate change? The debate has broad implications for public policy. However, it also raises fundamental questions about economic analysis itself, and moves issues of environmental policy from the microeconomic to the macroeconomic level. Taking global climate change seriously requires a re-examination of macroeconomic goals. Economic growth has been closely linked to expanded use of energy, primarily fossil fuels. The assumption of continuing economic growth, in turn, leads economists to discount future costs, including the generational impacts of climate change. Challenging conventional concepts of growth implies different development paths both for rich and poor nations. This volume brings together contributions from scholars around the world to address these issues. Scholars, researchers and students of economics and development studies along with policymakers and non-governmental organizations will find this insightful book of great interest.Table of ContentsContents: Introduction Jonathan M. Harris and Neva R. Goodwin PART I: THE SCOPE OF THE CHALLENGE 1. Understanding the Challenge of Global Warming Lloyd J. Dumas 2. The New Climate Economics: The Stern Review versus its Critics Frank Ackerman 3. Economics and Climate Change: Resilience, Equity, and Sustainability Neva R. Goodwin 4. The Right to Development in a Climate-Constrained World Paul Baer, Tom Athanasiou and Sivan Kartha PART II: MACROECONOMIC THEORY PERSPECTIVES 5. The Economic Fundamentals of Global Warming Duncan K. Foley 6. Energy Productivity, Labor Productivity, and Global Warming Lance Taylor 7. Macroeconomics and Sustainable Development: Applying the Sustainomics Framework Mohan Munasinghe 8. Ecological Macroeconomics: Consumption, Investment and Climate Change Jonathan M. Harris PART III: POLICY OPTIONS FOR RESPONDING TO CLIMATE CHANGE 9. Cap and Dividend: How to Curb Global Warming While Promoting Income Equity James K. Boyce and Matthew Riddle 10. Policies for Funding a Response to Climate Change Brian Roach 11. The New EU Emissions Trading Scheme: A Blueprint for the Global Carbon Market? Christian Egenhofer 12. Implementation of Sustainable Development in Poland Andrzej Kassenberg 13. Climate Change from the Investor’s Perspective Adam Seitchik Index
£50.30
Edward Elgar Publishing Ltd An Encyclopedia of Keynesian Economics, Second
Book SynopsisThis thoroughly revised and updated second edition of a highly acclaimed and authoritative reference work introduces the major concepts in the field of Keynesian economics.The comprehensive Encyclopedia features accessible, informative and provocative contributions by leading international scholars working in the tradition of Keynes. It brings together widely dispersed yet theoretically congruent ideas, presents concise biographies of economists who have contributed to the debate on Keynes and the Keynesian Revolution, and outlines the basic principles, models and tools used to discuss the economic consequences of The General Theory. Longer entries on specific topics associated with Keynes and the Keynesian Revolution analyse the principal factors that contributed to The General Theory, the economics of Keynes and the rise and apparent decline of Keynesian economics in greater detail.The second edition will ensure that An Encyclopedia of Keynesian Economics will remain the best single reference source on Keynesian economics and will continue to be welcomed by academics, students and teachers of economics as well as by scholars in related social sciences and government policymakers.Contributors: J. Adams, M.S. Aguirre, C. Amsler, D.A. Anderson, J. Aschheim, H. Azari-Rad, J. Barbour, B. Bechtold, S.E. Beck, D. Besomi, R.A. Black, C.E. Bohanon, B.W. Bolch, M.D. Bordo, B.M. Braun, W. Breit, T.A. Burczak, N.J. Burnett, D.A. Campbell, T. Caporale, C. Carey, T. Cate, S. Chapple, H.R. Christensen, N. Churchman, G.E. Clayton, D. Colander, J. Cornwall, W. Darity Jr., J.B. Davis, R.W. Dimand, S. Dow, A.K. Dutt, B.T. Elmslie, D.W. Findlay, J. Fleck, J.L. Ford, C.S. Fraley, E.N. Gamber, R.W. Garrison, M.G. Giesbrecht, G. Gilbert, M.J. Gootzeit, F. Guo, P. Groenewegen, F. Guo, L.J. Haber, D.L. Hammes, G.C. Harcourt, R.L. Hetzel, D.J. Hoaas, B.K. Hobbs, R.P.F. Holt, L.M. Hooks, J.B. Horowitz, Y.S. Huang, T.M. Humphrey, W.K. Hutchinson, J.P. Jacobsen, S.A. Jacobsen, D.W. Jansen, M.C.W. Janssen, A. John, L.E. Johnson, L. Jonung, V. Kapuria-Foreman, S. Kates, A.B. Kline, V. Kumar, W.E. Laird, D. Landreth, H. Landreth, R. Leeson, R.D. Ley, A. Maneschi, J.N. Marshall, P.H. Matthews, M.J. McCrickard, R. McCulloch, E.J. McKenna, A. Millmow, P. Mizen, D.E. Moggridge, M.R. Montgomery, G.H. Moore, J. Morgan, A.R. Moshtagh, L.S. Moss, N.R. Noble, L. Noyd, R.I. Obar, T. Palivos, D.B. Papadimitriou, J.E. Payne, T.P. Potiowsky, J.R. Presley, M. Rahnama-Moghadam, L. Ramrattan, S. Rashid, R.J. Rotheim, H. Samavati, W.J. Samuels, P.A. Samuelson, R.J. Sandilands, F. Schneider, L. Servén, Y. Shionoya, S. Simkins, N.T. Skaggs, R. Skidelsky, R.M. Solow, L.C. Spector, F.G. Steindl, Q. Su, L.P. Syll, M. Szenberg, G.S. Tavlas, H.-M. Trautwein, H. Uzawa, H.R. Vane, K.I. Vaughn, A.I. Veramallay, D.A. Walker, C. Waller, L.S. Wilson, J.S. Wood, L.R. Wray, W.P. Yohe, J.T. Young, D.C. ZannoniTrade ReviewAcclaim for the first edition: 'The book will also be of some interest to serious scholars, partly because it includes biographies of many economists too young to have been included in the New Palgrave, such as Dornbusch, Fisher, Herschel Grossman, Kregel, Lucas, and Robert Townsend. It also includes some very interesting longer essays.' --Peter Howitt, The Economic Journal --Elizabeth Webster, Economic Record'This reviewer found using this source exhilarating and endowed with additional interest in view of the 1997 discussion on the inclusion or noninclusion of Keynesian economics in introductory economics textbooks. The editors should be applauded for helping to preserve a part of intellectual heritage.' --Bogdan Mieczkowski, American Reference BooksTable of ContentsContents: Introduction to the Second Edition Absolute Income Hypothesis Accelerator Principle Ackley, Hugh Gardner Adjustment Mechanisms of the Basic Classical and Keynesian Models Aggregate Demand–Aggregate Supply Model and Diagram Arrow, Kenneth J. Austrian School of Economics Automatic Stabilizers Balance of Payments: Keynesian and Monetarist Approaches Baumol, William J. Bloomsbury Group Boulding, Kenneth E. Bretton Woods Brown, Arthur J. Brunner, Karl Burns, Arthur F. Business Cycle Theory (I) Business Cycle Theory (II) Cagan, Phillip D. Cambridge Circus Cassel, Gustav Champernowne, David G. Chicago School of Economics Clark, Colin Classical Economics Clower, Robert W. Consumption and the Consumption Function Coordination Failures and Keynesian Economics Crowding Out Currie, Lauchlin Davidson, Paul Deficits: Cyclical and Structural Demand Management Depression, The Great Dillard, Dudley Domar, Evsey D. Dornbusch, Rudiger Dual Decision Hypothesis Dynamic Stochastic General Equilibrium Models Econometric Models, Macroeconomic Economics of Keynes and of his Revolution, Key Elements of the Economics, The Art of Edgeworth, Francis Y. Employment Act of 1946 Expectations, Theories of Fellner, William J. Fiscal Policy Fischer, Stanley Friedman, Milton Frisch, Ragnar Full Employment Budget Functional Finance Galbraith, John K. Gesell, Silvio Government Investment Programs (the Socialization of Investment) Grossman, Herschel I. Haavelmo, Trygve Hahn, Frank H. Hansen, Alvin H. Harcourt, Geoff C. Harrod, Sir Roy Hawtrey, Sir Ralph Hayek, Friedrich A. von Heckman, James J. Heller, Walter W. Henderson, Sir Hubert D. Hicks, Sir John R. Incomes Policies Inflation Interest, Theories of International Clearing Union IS/LM Model and Diagram Johnson, Harry Gordon Jorgenson, Dale W. Kahn, Lord Richard F. Kaldor, Lord Nicholas Kalecki, Michał Keynes, John Maynard Keynes, John N. Keynes and Probability Keynes, The Influence of Burke and Moore on Keynes?, What Remains of Keynes’s Economics, National Income Accounting Activism and Keynesian Cross Keynesian Economics, Deficit Finance in Keynesian Indicators Keynesian Revolution Keynesianism in America Klein, Lawrence R. Kregel, Jan A. Kuznets, Simon Lausanne, The School of Leijonhufvud, Axel Lender of Last Resort Leontief, Wassily W. Lerner, Abba P. Life Cycle Hypothesis Lipsey, Richard G. Liquidity Trap Lucas, Jr., Robert E. Lucas Critique Lundberg, Erik Machlup, Fritz Malinvaud, Edmond Markowitz, Harry M. Marshall, Alfred Marshall and Keynes McFadden, Daniel Meade, James E. Meltzer, Allan H. Merton, Robert C. and Myron S. Scholes Metzler, Lloyd A. Microfoundations of Macroeconomics Minsky, Hyman P. Modigliani, Franco Monetary Policy Monetizing the (Federal) Debt Money Multiplier Effect Mundell, Robert A. Mundell–Fleming Model Myrdal, Gunnar Neoclassical Synthesis (Bastard Keynesianism) New Classical School of Economics New Keynesian Macroeconomics Niemeyer, Sir Otto E. Ohlin, Bertil Okun, Arthur M. Okun’s Law Permanent Income Hypothesis Phillips, A.W.H. Phillips Curve Pigou, Arthur C. Post Keynesian School of Economics Post Walrasian Economics Prospect Theory Quantity Theory of Money Real Balance Effect Relative Income Hypothesis Ricardian Equivalence Ricardo Effect Robbins, Lord Lionel Robertson, Sir Dennis H. Robinson, Joan Rothschild, Kurt W. Samuelson, Paul A. Say’s Law Schumpeter, Joseph A. Schwartz, Anna J. Shackle, G.L.S. Sharpe, William F. Solow, Robert M. Sraffa, Piero Stein, Herbert Stockholm School of Economics Stone, Sir John Richard N. Structured Financial Products Swan, Trevor W. Tarshis, Lorie Tobin, James Townsend, Robert Treasury View Viner, Jacob Weintraub, Sidney White, Harry D. Wicksell, Knut
£245.00
Edward Elgar Publishing Ltd Macroeconomic Theory and its Failings:
Book SynopsisThis innovative book focuses on the current global financial crisis and the inadequacies of the economic theories being used to guide policy. In so doing, it tackles the economic theories that have been used firstly to understand its causes and thereafter to contain the damage it has brought. The contributors bring together different perspectives from across the entire spectrum of economic opinion to examine what is likely to be the single most important economic problem of our time. The unifying feature is that all of the authors disagree with the standard mainstream neo-classical models being applied in attempting to comprehend what has gone on and then, more importantly, to devise policies to bring this recession to an end. The problems that modern macroeconomics may have caused in being the basis for economic policy are addressed, and it is concluded that the deepening problems found in economies across the developed world are not due to governments having refused to take the advice of their economic advisors but are in many respects due to their actually having taken this advice. Suggesting alternative ways of understanding how economies work so that other types of policies might be used instead, this book will prove a fascinating read not just for scholars and policy-makers concerned with our macroeconomic and financial problems but for anyone interested in deepening their understanding of our contemporary economic debate.Trade Review‘This admirable and comprehensive collection should prove of interest to anyone seeking a deeper understanding of the financial crisis.’ -- Tyler Cowen, George Mason University, US‘The Great Crash of 2008 has raised profound questions concerning the orientation of modern economics and the adequacy of its theory. Those justifiably looking for alternatives will find this book invaluable. It contains a rich array of alternative perspectives on the crisis, and it will hopefully help stimulate the further theoretical developments that are so urgently required.’ -- Geoffrey M. Hodgson, University of Hertfordshire, UKTable of ContentsContents: Introduction Steven Kates 1. The Ordinary Economics of an Extraordinary Crisis Peter J. Boettke and William J. Luther 2. Did Bernanke’s ‘Creditism’ Aggravate the Financial Crisis of 2008? Tim Congdon 3. Toward a New Sustainable Economy Robert Costanza 4. Looking at the Crisis through Marx – Or Is It the Other Way About? Ben Fine 5. Incentive Divergence and the Global Financial Crisis J. Patrick Gunning 6. The Microeconomic Foundations of Macroeconomic Disorder: An Austrian Perspective on the Great Recession of 2008 Steven Horwitz 7. The Crisis in Economic Theory: The Dead End of Keynesian Economics Steven Kates 8. The Coming Depression and the End of Economic Delusion Steve Keen 9. Reflections on the Global Financial Crisis J.E. King 10. An Islamic Economic Perspective on the Global Financial Crisis Mervyn Lewis 11. Bankers Gone Wild: The Crash of 2008 Robert E. Prasch 12. The Governance of Financial Transactions Martin Ricketts 13. Excess Debt and Asset Deflation Jan Toporowski 14. An Institutionalist Perspective on the Global Financial Crisis Charles J. Whalen 15. Minsky, the Global Money-Manager Crisis, and the Return of Big Government L. Randall Wray Index
£33.95
Edward Elgar Publishing Ltd Exchange and Development: An Anatomy of Economic
Book SynopsisThis innovative and important book develops a new framework for analysing exchange that takes place within and outside markets over the course of development. The authors argue that development and social and economic progress are greatly enhanced by a fluent and efficient exchange system. Conversely, the process of development encourages and facilitates trade. The authors introduce the concept of exchange configurations to capture the multiplicity of settings within which exchange occurs and the many different forms exchange and transactions can take. The book shows how exchange configurations can help to identify the factors that constrain the exchange process and lead to the formulation of effective reforms. It then uses a historical analysis of systems of exchange during different phases of development over the last two millennia to illustrate different exchange configurations. Exchange and Development will appeal to students at both the graduate and undergraduate level in the fields of economic development, international trade, microeconomics, institutional economics and economic history. Researchers in universities and policy makers in governments and international agencies will also draw much benefit from the entirely novel approach formulated in this book.Trade Review‘Characterizing and understanding why and how economic actors exchange goods and services is undoubtedly one of the most important concerns of economics. Cornelisse and Thorbecke provide us with a framework to better understand the bewildering diversity of forms of exchange according to items transacted, actors involved, and environments where exchanges occur. This is done by developing the novel concept of exchange configurations. This relatively simple lens makes for a fascinating re-interpretation of the long and complex process of economic development.’ -- Alain de Janvry, University of California at Berkeley, US‘The authors of this volume are spot on when they note that “the perspective alters drastically when it is realized that economic exchange as it occurs in the real world is a laborious and costly process with uncertain and imperfect outcomes”. We all have a lot to learn from this highly original, thought provoking contribution to our understanding of the very core of economic and development thinking.’ -- Finn Tarp, United Nations University - World Institute for Development Economics Research, Finland and University of Copenhagen, DenmarkTable of ContentsContents: Preface 1. Introduction and Overview 2. The Concept of Exchange Configuration 3. Terms and Concepts for an Analysis of Exchange 4. Elements of Exchange 5. A Typology of Exchange Configurations 6. Systems of Exchange in Different Phases of Development 7. The Dynamic Forces in Exchange Configurations 8. Some Concluding Messages Index
£95.00
Edward Elgar Publishing Ltd The Microfoundations Delusion: Metaphor and Dogma
Book SynopsisIn this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have 'rigorous microfoundations'. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors and the defects of micro-reduction as a methodological principle. Strong criticism of the microfoundations dogma is documented in great detail, from some mainstream and many heterodox economists and also from economic methodologists, social theorists and evolutionary biologists. The author argues for the relative autonomy of macroeconomics as a distinct 'special science', cooperating with but most definitely not reducible to microeconomics. The Microfoundations Delusion will prove a stimulating and thought-provoking read for scholars, students and researchers in the fields of economics, heterodox economics and history of economic thought.Trade Review'This excellent book documents the creation of what has become the first commandment of orthodox macroeconomics: that microeconomic theory provides its foundation because this is the most secure form of economic knowledge. By contrast, John King shows conclusively that microeconomics cannot play such a role when assessed by the criteria of logic, or of science, or of economics itself. Indeed, he goes further and demonstrates that the microfoundations dogma detracts from knowledge about how economies actually operate, and instead generates patently false conclusions. Moreover, the dogma is shown to have blinded orthodox economists from even seeing the possibility of typical macroeconomic crises, and has disarmed them in formulating policies that would eliminate actual crises. The book therefore deals with a topic at the very heart of the present debacle in the world economy.' --Michael Howard, University of Waterloo, Canada'A generation ago Dudley Dillard wrote a famous article on the ''barter illusion in classical and neoclassical economics''. Now John King has gone a step further and written about the microfoundations delusion. The illusion has been with us for a very long time, the delusion is of more recent vintage. Together they have blocked a basic understanding of macroeconomic and monetary phenomena at a time when they are most urgently needed. This is a book that had to be written, and we are fortunate that it is John King who has written it. Essential reading for our times.' --John Smithin, York University, Canada'King's book, apart from its rather contentious conclusion that there is no inherent hierarchy between micro and macro, covers, every issue relevant to the debate majestically and in great detail. It is this reviewer s sense that, should the profession choose to engage with this book in a substantial and sustained way, these methodological questions which have lurked underneath the surface of economic discourse since at least Keynes s time can finally and once and for all be resolved.' --Philip Pilkington, Review of Keynesian EconomicsTable of ContentsContents: 1. Introduction Part I: Microfoundations and the Philosophy of Science 2. Microfoundations as a (Bad) Metaphor 3. Microfoundations as Micro-reduction 4. Two Case Studies: Biology and Social Science Part II: Microfoundations in the History of Economics and Other Social Sciences 5. ‘Microfoundations’ in the Literature of Economics, Part I: 1936–1975 6. ‘Microfoundations’ in the Literature of Economics, Part II: 1975–2012 7. Crossing the Border: ‘Microfoundations’ in the Other Social Sciences Part III: Dissenting Voices 8. The Dissenters, Part I: The Post Keynesians 9. The Dissenters, Part II: Mainstreamers, Austrians and Institutionalists 10. The Economic Methodologists and Microfoundations 11. Conclusion References Index
£105.00
Edward Elgar Publishing Ltd Housing Markets and the Global Financial Crisis:
Book SynopsisHousing markets are at the centre of the recent global financial turmoil. In this well-researched study, a multidisciplinary group of leading analysts explores the impact of the crisis within, and between, countries.The impacts of the so-called global crisis are, in fact, highly uneven for both households and institutions. This unique book investigates why this is the case as well as emphasizing the consequences. It encompasses the experiences of all the major economies, including: Australia, China, Hong Kong, Hungary, Iceland, Ireland, Japan, New Zealand, South Korea, the UK, the USA and Vietnam, highlighting and comparing a wide range of housing systems and crisis impacts.Housing Markets and the Global Financial Crisis will strongly appeal to academics and postgraduate students in social policy, urban studies, public policy, economics, sociology and human geography. In addition, anyone with a general interest in globalization, neoliberalism and the changing nature of contemporary capitalist societies, as well as those with particular interests in housing markets and housing policy, will find this book enriching and enlightening.Trade Review‘Housing Markets and the Global Financial Crisis: The Uneven Impact on Households brings together a diverse set of researchers from a solid mix of countries, culminating in an accessible, methodologically sound and engaging edited collection. Given this, and as a first-attempt at examining the GFC comparatively in terms of its impacts on households, this book is a much welcomed addition to the urban studies discourse broadly, and empirical work on the GFC specifically.’ -- Dylan Simone, Urban Studies‘Housing Markets and the Global Financial Crisis is worth reading for policymakers (in central banks, governments or municipalities) who are in charge of the introduction of regulatory or fiscal measures in the housing sector. I enjoyed reading this small and handy book and recommend that researchers and political decision makers involved in housing buy it, read it and finally recommend it to others as a means of achieving a more global insight.’ -- Karin Wagner, International Journal of Housing PolicyTable of ContentsContents: Preface 1. Households, Homeownership and Neoliberalism Ray Forrest 2. Effects of the Recent Credit Cycle on Homeownership Rates Across Households: What We Know and What We Expect Doug Duncan and Cesar Costantino 3. The Credit Crunch in the UK: Understanding the Impact on Housing Markets, Policies and Households Peter Williams 4. Housing in Iceland in the Aftermath of the Global Financial Crisis Jón Rúnar Sveinsson 5. Housing Wealth, Debt and Stress Before, During and After the Celtic Tiger Michelle Norris and Nessa Winston 6. Housing in the Netherlands Before and After the Global Financial Crisis Richard Ronald and Kees Dol 7. Housing Policy and the Economic Crisis – The Case of Hungary József Hegedüs 8. The Impacts of the Global Financial Crisis on Housing and Mortgage Markets in Australia: A View from the Vulnerable Mike Berry, Tony Dalton and Anitra Nelson 9. Rebuilding Housing Polices in Response to the Current Crisis. Is Homeownership the Solution? David Thorns 10. The Global Financial Crisis and its Impact on Households: The Case of Urban Vietnam Hoang Huu Phe 11. Housing Policy Issues in South Korea Since the Global Economic Crisis: Aspects of a Construction-Industry-Dependent Society Soo-hyun Kim 12. Towards a Post-Homeowner Society? Homeownership and Economic Insecurity in Japan Yosuke Hirayama 13. Business Nearly as Usual: The Global Financial Crisis and its Impacts on Households in Hong Kong Ngai-Ming Yip 14. The Impact of the Financial Crisis on China’s Housing Market Jianping Ye and Chao Sun 15. Concluding Discussion – Where to Now? Ray Forrest Appendix: Selected Key Indicators Index
£105.00
Edward Elgar Publishing Ltd Exchange and Development: An Anatomy of Economic
Book SynopsisThis innovative and important book develops a new framework for analysing exchange that takes place within and outside markets over the course of development. The authors argue that development and social and economic progress are greatly enhanced by a fluent and efficient exchange system. Conversely, the process of development encourages and facilitates trade. The authors introduce the concept of exchange configurations to capture the multiplicity of settings within which exchange occurs and the many different forms exchange and transactions can take. The book shows how exchange configurations can help to identify the factors that constrain the exchange process and lead to the formulation of effective reforms. It then uses a historical analysis of systems of exchange during different phases of development over the last two millennia to illustrate different exchange configurations. Exchange and Development will appeal to students at both the graduate and undergraduate level in the fields of economic development, international trade, microeconomics, institutional economics and economic history. Researchers in universities and policy makers in governments and international agencies will also draw much benefit from the entirely novel approach formulated in this book.Trade Review‘Characterizing and understanding why and how economic actors exchange goods and services is undoubtedly one of the most important concerns of economics. Cornelisse and Thorbecke provide us with a framework to better understand the bewildering diversity of forms of exchange according to items transacted, actors involved, and environments where exchanges occur. This is done by developing the novel concept of exchange configurations. This relatively simple lens makes for a fascinating re-interpretation of the long and complex process of economic development.’ -- Alain de Janvry, University of California at Berkeley, US‘The authors of this volume are spot on when they note that “the perspective alters drastically when it is realized that economic exchange as it occurs in the real world is a laborious and costly process with uncertain and imperfect outcomes”. We all have a lot to learn from this highly original, thought provoking contribution to our understanding of the very core of economic and development thinking.’ -- Finn Tarp, United Nations University - World Institute for Development Economics Research, Finland and University of Copenhagen, DenmarkTable of ContentsContents: Preface 1. Introduction and Overview 2. The Concept of Exchange Configuration 3. Terms and Concepts for an Analysis of Exchange 4. Elements of Exchange 5. A Typology of Exchange Configurations 6. Systems of Exchange in Different Phases of Development 7. The Dynamic Forces in Exchange Configurations 8. Some Concluding Messages Index
£33.95
Edward Elgar Publishing Ltd On the Brink of Deglobalization: An Alternative
Book SynopsisOn the Brink of Deglobalization addresses the breakdown of international trade and capital flows in 2008/09 and challenges the mainstream narrative for the world trade collapse. Detailed chapters on international finance, fragmentation of production, protectionism and earlier episodes of collapsing trade reveal data that contradicts conventional explanations and demonstrates that the trade collapse was driven by the shock of (perceived) trade uncertainty. Peter van Bergeijk discusses why trade barriers and import substitution are seen as solutions during depressions while presenting empirical evidence demonstrating the risks of such policies. This book provides a broad, historical and statistical analysis relevant to understanding the recent world trade collapse. Being the first comprehensive analysis of the risks and drivers of deglobalization, this unique and challenging book will appeal to trade economists, trade policymakers and analysts as well as those involved in international business.Trade Review'Peter van Bergeijk has written a fascinating book on the recent trade collapse, that in size can only be compared to the (trade) crises of the 1930s. There are at least two reasons to read the book. The first is to get a better understanding why the world has witnessed a dramatic decline of international trade. Peter van Bergeijk systematically analyzes the standard explanations that are given for this collapse, for example those put forward by the WTO, and concludes that most are wrong or unconvincing, and provides his own thought provoking explanation: risk and uncertainty. The second reason to read the book is that it provides all those interested in international trade a clear and interesting introduction to understand the world of international trade and learn a great deal along the way, and not only about the recent trade collapse.' -- Steven Brakman, University of Groningen, The NetherlandsTable of ContentsContents: Preface 1. Introduction: Setting the Stage 2. From Peak to Trough 3. The Trade Finance Confusion: Tales of Capital, Finance, Credit and Trade 4. The International Value Chain Myth 5. Protectionism is Just Around the Corner! 6. An Alternative Hypothesis: The Forgotten Role of Trade Uncertainty 7. Let Us Test the Theories 8. Too Early to Tell? References Index
£90.00
Edward Elgar Publishing Ltd Globalization and Inequality
Book SynopsisThis title brings together the most significant modern contributions to the literature on globalization and inequality. The editor's selection, set in context by an authoritative introduction, uses broad analyses and important case studies to illustrate the impact on levels of inequality of previous periods of globalization and of the current era of globalization. The research review further focuses on the issues of openness and inequality, and concludes with several benchmark papers that examine global levels of inequality. This timely book will be an invaluable resource for anyone concerned with this vital relationship, including teachers, doctoral students and researchers.Trade Review‘This outstanding book maps the debates about globalization and inequality: how globalization impacts national inequality and how an open global economy shapes inequality within and across the borders of states. Branko Milanovic’s collection will become the authoritative source on these complex issues.’ -- David Held, Durham University, UKTable of ContentsContents: Acknowledgements Introduction Branko Milanovic PART I PAST GLOBALIZATION(S) AND INEQUALITY 1. François Bourguignon and Christian Morrisson (2002), ‘Inequality Among World Citizens: 1820–1992’ 2. Peter H. Lindert and Jeffrey G. Williamson (2003), ‘Does Globalization Make the World More Unequal?’, and Lant Pritchett, ‘Comment’ 3. Jeffrey G. Williamson (1997), ‘Globalization and Inequality, Past and Present’ 4. Thomas Piketty and Emmanuel Saez (2006), ‘The Evolution of Top Incomes: A Historical and International Perspective’ PART II NATIONAL INEQUALITIES IN THE CURRENT ERA OF GLOBALIZATION 5. Martin Ravallion (2003), ‘Inequality Convergence’ 6. Giovanni Andrea Cornia, Tony Addison and Sampsa Kiiski (2004), ‘Income Distribution Changes and Their Impact in the Post-Second World War Period’ 7. Andrea Brandolini and Timothy M. Smeeding (2006), ‘Patterns of Economic Inequality in Western Democracies: Some Facts on Levels and Trends’ 8. Sebastian Leitner and Mario Holzner (2008), ‘Economic Inequality in Central, East and Southeast Europe’ 9. Leonardo Gasparini, Guillermo Cruces and Leopoldo Tornarolli (2011), ‘Recent Trends in Income Inequality in Latin America’ 10. Angus Deaton and Jean Dreze (2002), ‘Poverty and Inequality in India: A Re-Examination’ 11. Ravi Kanbur and Xiaobo Zhang (2005), ‘Fifty Years of Regional Inequality in China: a Journey Through Central Planning, Reform, and Openness’ PART III OPENNESS AND INEQUALITY 12. Matthew Higgins and Jeffrey G. Williamson (2002), ‘Explaining Inequality the World Round: Cohort Size, Kuznets Curves, and Openness’ 13. Antonio Spilimbergo, Juan Luis Londoño and Miguel Székely (1999), ‘Income Distribution, Factor Endowments, and Trade Openness’ 14. Steve Dowrick and Jane Golley (2004), ‘Trade Openness and Growth: Who Benefits?’ 15. Branko Milanovic (2005), ‘Can We Discern the Effect of Globalization on Income Distribution? Evidence from Household Budget Surveys’ 16. Julien Gourdon, Nicolas Maystre and Jaime de Melo (2008), ‘Openness, Inequality and Poverty: Endowments Matter’ PART IV GLOBAL INEQUALITY 17. Branko Milanovic (2006), ‘Global Income Inequality: A Review’ 18. Branko Milanovic (2002), ‘True World Income Distribution, 1988 and 1993: First Calculation Based on Household Surveys Alone’ 19. Xavier Sala-i-Martin (2006), ‘The World Distribution of Income: Falling Poverty and …Convergence, Period’ 20. Bob Sutcliffe (2004), ‘World Inequality and Globalization’ 21. Anthony B. Atkinson and Andrea Brandolini (2010), ‘On Analyzing the World Distribution of Income’ 22. Sudhir Anand and Paul Segal (2008), ‘What Do We Know about Global Income Inequality?’
£273.00
Edward Elgar Publishing Ltd The First Great Recession of the 21st Century:
Book SynopsisThe 2008-10 financial crisis and the global recession it created is a complex phenomenon that warrants detailed examination. The various essays in this book utilise several alternative paradigms to provide a plausible explanation and a credible cure. Great detail is given to this important analysis from different theoretical perspectives, presenting a clearer understanding of what went wrong and expounding misinterpretations of current theories and practices. Fourteen insightful chapters by eminent scholars investigate the background of the crisis and draw lessons for economic theory and policy. They largely illustrate that the roots of the recession lie in the financial sector which, over the past few decades, has expanded considerably in terms of both size and complexity. They show that financial innovation has decoupled the real and financial sectors - not always to the benefit of economic stability - and argue that financial markets should be regulated more astutely in order to reinforce transparency and accountability. The book concludes that economics as a science should give proper weight to financial variables and integrate them into its models. This fascinating and thought-provoking volume will prove a challenging read for academics, students and researchers in the fields of economics, money, finance and banking, and the history of economics. It will also prove invaluable for economic policymakers at all levels.Trade Review‘The First Great Recession of the 21st Century, fascinating, insightful and thought-provoking, will prove a challenging read for academics, students and researchers in the fields of economics, money, finance and banking, and the history of economics. It will also prove invaluable for economic policymakers at all levels.’ -- Sir Readalot.orgTable of ContentsContents: Introduction Óscar Dejuán, Eladio Febrero and Maria Cristina Marcuzzo PART I: ECONOMISTS ON TRIAL 1. Who Predicted the Crisis and What Can We Learn from Them? Dirk J. Bezemer 2. A Brief Note on Economic Recessions, Banking Reform and the Future of Capitalism Jesús Huerta de Soto 3. Understanding Crisis: On the Meaning of Uncertainty and Probability Ekaterina Svetlova and Matthias Fiedler 4. Financial Crisis and Risk Measurement: The Historical Perspective and a New Methodology Gumersindo Ruiz and Ramón Trías 5. Did Economic Analysis Fail in the Current Financial Crisis? Julio Segura PART II: WHAT DOES HISTORY TELL US? 6. Does the Current Global Crisis Remind us of the Great Depression? Sunanda Sen 7. Innovation, Growth, Cycles and Finance: Three (or Four or More) Stories from the 1930s and their Lessons Catherine P. Winnett and Adrian B. Winnett 8. Epic Recession and Economic Theory Jack Rasmus 9. Did Asset Prices Cause the Current Crisis? Edith Skriner 10. The Role of the History of Economic Thought in the Development of Economic Theory and Policy Steven Kates PART III: COUNTRY CASES IN A GLOBAL CRISIS 11. Testimony to the Financial Crisis Inquiry Commission by Alan Greenspan Editorial note 12. Long-term Depression and New Markets: Economists and the 2008 Recession Davide Gualerzi 13. Manifestations of the Global Crisis in a Small Open Economy Ivars Brīvers 14. The Aftermath of a Long Decade of Real Nil Interest Rates (Spain 1996–2008) Óscar Dejuán and Eladio Febrero Index
£105.00
Edward Elgar Publishing Ltd On the Brink of Deglobalization: An Alternative
Book SynopsisOn the Brink of Deglobalization addresses the breakdown of international trade and capital flows in 2008/09 and challenges the mainstream narrative for the world trade collapse. Detailed chapters on international finance, fragmentation of production, protectionism and earlier episodes of collapsing trade reveal data that contradicts conventional explanations and demonstrates that the trade collapse was driven by the shock of (perceived) trade uncertainty. Peter van Bergeijk discusses why trade barriers and import substitution are seen as solutions during depressions while presenting empirical evidence demonstrating the risks of such policies. This book provides a broad, historical and statistical analysis relevant to understanding the recent world trade collapse. Being the first comprehensive analysis of the risks and drivers of deglobalization, this unique and challenging book will appeal to trade economists, trade policymakers and analysts as well as those involved in international business.Trade Review'Peter van Bergeijk has written a fascinating book on the recent trade collapse, that in size can only be compared to the (trade) crises of the 1930s. There are at least two reasons to read the book. The first is to get a better understanding why the world has witnessed a dramatic decline of international trade. Peter van Bergeijk systematically analyzes the standard explanations that are given for this collapse, for example those put forward by the WTO, and concludes that most are wrong or unconvincing, and provides his own thought provoking explanation: risk and uncertainty. The second reason to read the book is that it provides all those interested in international trade a clear and interesting introduction to understand the world of international trade and learn a great deal along the way, and not only about the recent trade collapse.' -- Steven Brakman, University of Groningen, The NetherlandsTable of ContentsContents: Preface 1. Introduction: Setting the Stage 2. From Peak to Trough 3. The Trade Finance Confusion: Tales of Capital, Finance, Credit and Trade 4. The International Value Chain Myth 5. Protectionism is Just Around the Corner! 6. An Alternative Hypothesis: The Forgotten Role of Trade Uncertainty 7. Let Us Test the Theories 8. Too Early to Tell? References Index
£28.95
Edward Elgar Publishing Ltd A Future for Capitalism: Classical, Neoclassical
Book SynopsisThis book builds on the Marx-Keynes-Schumpeter (MKS) approach to understanding the evolution of capitalism. It does so by focusing on current frameworks that study macro-dynamical systems in the tradition of the Classical, the Neoclassical and the Keynesian interpretation of the working of modern capitalist economies, and of the societies that are built upon them. The distinguished authors concentrate on different paradigms of economic conjecture in terms of their applicability to labor market problems and their implications for growing capitalist economies. They present material clearly related to current macroeconomic research which goes beyond the New Consensus macroeconomics, and which can also be related to the discussion between practitioners and politicians on the reform of both financial and labor markets. A Future for Capitalism will prove a challenging and thought provoking read for heterodox economists and broad-minded mainstream macroeconomists with a special interest in alternatives to general equilibrium macroeconomics.Contents: Introduction Part I: Stabilizing an Unstable Economy: The Challenge in Place 1. Real Financial Market Interactions and the Choice of Policy Measures Part II: Classical Unbalanced Growth and Social Evolution 2. Income Security within the Bounds of the Reserve Army Mechanism 3. Segmented Labor Markets and Low Income Work 4. Atypical Employment and Smooth Factor Substitution Part III: Unemployment and Welfare Issues in Models of Endogenous Growth 5. Economic Growth with an Employer of Last Resort: A Simple Model of Flexicurity Capitalism 6. Economic Policy in a Growth Model with Human Capital, Heterogenous Agents and Unemployment 7. Public Debt, Public Expenditures and Endogenous Growth with Real Wage Rigidities Part IV: The Road to Full-Employment Capitalism 8. Flexicurity: A Baseline Supply Side Model 9. Factor Substitution, Okun s Law and Gradual Wage Adjustments 10. Skill Formation, Heterogeneous Labor and Investment-driven Business Fluctuations 11. Leashing Capitalism: Monetary Fiscal Policy Measures and Labor Market Reforms Some Useful Stability Theorems References IndexTable of ContentsContents: Introduction Part I: Stabilizing an Unstable Economy: The Challenge in Place 1. Real–Financial Market Interactions and the Choice of Policy Measures Part II: Classical Unbalanced Growth and Social Evolution 2. Income Security within the Bounds of the Reserve Army Mechanism 3. Segmented Labor Markets and Low Income Work 4. Atypical Employment and Smooth Factor Substitution Part III: Unemployment and Welfare Issues in Models of Endogenous Growth 5. Economic Growth with an Employer of Last Resort: A Simple Model of Flexicurity Capitalism 6. Economic Policy in a Growth Model with Human Capital, Heterogenous Agents and Unemployment 7. Public Debt, Public Expenditures and Endogenous Growth with Real Wage Rigidities Part IV: The Road to Full-Employment Capitalism 8. Flexicurity: A Baseline Supply Side Model 9. Factor Substitution, Okun’s Law and Gradual Wage Adjustments 10. Skill Formation, Heterogeneous Labor and Investment-driven Business Fluctuations 11. Leashing Capitalism: Monetary–Fiscal Policy Measures and Labor Market Reforms Some Useful Stability Theorems References Index
£118.00
Edward Elgar Publishing Ltd The Elgar Companion to the Chicago School of
Book SynopsisMany know the Chicago School of Economics and its association with Milton Friedman, George Stigler, Ronald Coase and Gary Becker. But few know the School's history and the full scope of its scholarship. In this Companion, leading scholars examine its history and key figures, and provide surveys of the School's contributions to central aspects of economics, including: price theory, monetary theory, labor and economic history. The volume examines the School's traditions of applied welfare theory and law and economics while providing a glimpse into emerging research on Chicago's role in the development of neoliberalism.A companion in the true sense of the word, this volume surveys a wide body of Chicago economic studies and guides readers carefully through each. The Companion offers biographies of leading Chicago economists and evaluations of the School's connection to approaches to economics that draw from and complement the School, including the Virginia School and the work of Armen Alchian and Edward Lazear. Moreover, this book is a first in many respects as it analyzes the interconnections of the Chicago School's theory, methodology, and policy, and considers by what means and ideas the School's policy framework is driven.The breadth and depth of the insights presented here will appeal especially to students and scholars of economics and historians interested in economics, social science and applied public policy.Ross B. Emmett is Professor of Political Economy and Political Theory and Constitutional Democracy, and Co-Director of the Michigan Center for Innovation and Economic Prosperity at James Madison College, Michigan State University, USA.Trade Review‘The attraction of the project shows in the number of eminent authors who contributed, and who in part came from very different backgrounds. . . recommended.’ -- Betrand Schefold, Jahrbucher für Nationalokonomie und StatistikTable of ContentsContents: Preface Introduction Ross B. Emmett PART I: ESSAYS ON THE CHICAGO SCHOOL 1. The Development of Post-war Chicago Price Theory J. Daniel Hammond 2. Chicago Economics and Institutionalism Malcolm Rutherford 3. Adam Smith and the Chicago School Steven G. Medema 4. The Economic Organization, by Frank H. Knight: A Reader’s Guide Ross B. Emmett 5. The Chicago School of Welfare Economics H. Spencer Banzhaf 6. Chicago Monetary Traditions David Laidler 7. On the Origins of A Monetary History Hugh Rockoff 8. Chicago and Economic History David Mitch 9. Chicago and the Development of Twentieth-Century Labor Economics Bruce E. Kaufman 10. Human Capital, by Gary S. Becker: A Reading Guide Pedro Nuno Teixeira 11. Chicago Law and Economics Steven G. Medema 12. Friedman, Positive Economics, and the Chicago Boys Eric Schliesser 13. Neoliberalism and Chicago Robert Van Horn and Philip Mirowski 14. Armen Alchian on Evolution, Information, and Cost: The Surprising Implications of Scarcity Daniel K. Benjamin 15. The Chicago Roots of the Virginia School Gordon L. Brady PART II: SOME CHICAGO ECONOMISTS 1. Gary S. Becker Pedro Nuno Teixeira 2. Ronald Harry Coase Steven G. Medema 3. Aaron Director Robert Van Horn 4. Paul H. Douglas Glen G. Cain 5. Berthold Frank Hoselitz David Mitch 6. Frank H. Knight Ross B. Emmett 7. J. Laurence Laughlin William J. Barber 8. Edward P. Lazear Morley Gunderson 9. H. Gregg Lewis Jeff E. Biddle 10. Deirdre N. McCloskey Stephen T. Ziliak 11. Richard A. Posner Steven G. Medema 12. Albert Rees Orley Ashenfelter and John Pencavel 13. Margaret Gilpen Reid Evelyn Forget 14. Sherwin Rosen Hao Li 15. Henry Schultz D. Wade Hands 16. Theodore William Schultz Pedro Nuno Teixeira 17. Henry Calvert Simons Sherryl D. Kasper 18. George J. Stigler Edward Nik-Khah 19. Jacob Viner William J. Barber Index
£48.95
Edward Elgar Publishing Ltd The Economics of Financial Turbulence:
Book SynopsisThis challenging book examines the origins and dynamics of financial-economic crises. Its wide theoretical scope incorporates the theories of Marx, Keynes and various other Post Keynesian scholars of endogenous money, and provides a grand synthesis of these theoretical lineages, as well as a powerful critique of prevailing neoclassical/monetarist theories of money. Bill Lucarelli provides detailed historical analyses of the causes of the current international financial crisis, and offers alternative heterodox theories with more coherent and rigorous theoretical frameworks than existing economic orthodoxies. He illustrates that the very assumptions of neoclassical theory - informed by the efficient markets hypothesis - tend to rule out the very possibility of endogenous financial crises. Consequently, he argues, the endogenous causes of these crises are either ignored or simply treated as random, extraneous historical events. In stark contrast to these neoclassical/monetarist views, this book seeks to explain the recurrence of these financial crises as a result of the inner workings of the capitalist system. The Economics of Financial Turbulence will prove an invaluable contribution to modern heterodox theories of endogenous money, and as such will be essential reading for academics and students with an interest in economics, heterodox economics and money, finance and banking. Economic and financial policymakers will also find the book to be a fascinating read.Contents: Introduction; Part I: Marxian Perspectives; 1. A Monetary Theory of Production; 2. A Marxian Theory of Money, Credit and Crisis; Part II: Heterodox Theories of Endogenous Money; 3. Money and Keynesian Uncertainty; 4. Endogenous Money: Heterodox Controversies; 5. Towards a Theory of Endogenous Financial Instability and Debt-Deflation; Part III: The Roots of the Current Crisis; 6. Financialization: Prelude to Crisis; 7. Faustian Finance and the American Dream; Conclusion; BibliographyTable of ContentsContents: Introduction Part I: Marxian Perspectives 1. A Monetary Theory of Production 2. A Marxian Theory of Money, Credit and Crisis Part II: Heterodox Theories of Endogenous Money 3. Money and Keynesian Uncertainty 4. Endogenous Money: Heterodox Controversies 5. Towards a Theory of Endogenous Financial Instability and Debt-Deflation Part III: The Roots of the Current Crisis 6. Financialization: Prelude to Crisis 7. Faustian Finance and the American Dream Conclusion Bibliography Index
£87.00
Edward Elgar Publishing Ltd Post Keynesian Macroeconomic Theory, Second
Book SynopsisIn this updated and revised edition of Post Keynesian Macroeconomic Theory, Paul Davidson explains how and why contemporary macroeconomic textbooks fail to incorporate Keynes's liquidity and financial analysis framework to explain the importance of money and financial markets in the real world of experience. This important text develops Keynes's analytical framework for both closed and open economies and provides policy guidance for the global economy of the twenty-first century. In particular, it deals with problems such as inflation, financial contagion, global unemployment, outsourcing, trade patterns, and developing an international financial system that encourages expansionary growth among all trading partners while avoiding sovereign debt problems. Using this textbook in macroeconomics courses will provide students with a pragmatic insight that will be both useful and productive. Contents: 1. The Background for Keynes's Revolution 2. The Essential Difference between the General Theory and the Classical System 3. Taxonomy, Axioms and Expenditures Related to Income: Keynes's D1 Category 4. Investment Spending 5. Government and the Level of Output 6. Delving Further into the Relationship between Money, Liquidity and Uncertainty 7. Liquidity Preference the Basis of Keynes's Revolution 8. The Finance Motive and the Interdependence of the Real and Monetary Sectors 9. Financial Markets, Fast Exits and Great Depressions and Recessions 10. Inflation: Causes and Cures 11. Keynes's Aggregate Supply and Demand Analysis 12. The Demand and Supply of Labour 13. Money in an International Setting 14. Trade Imbalances and International Payments 15. International Liquidity and Exchange Rate Stability 16. Financing the Wealth of Nations 17. Export-led Growth and a Proposal for an International Payments Scheme 18. Epilogue: Truth in Labelling and Economic Textbooks IndexTrade ReviewPaul Davidson is the leading expert on Keynes and Keynesianism. --Larry Elliott, GuardianA work of art and science. Beautifully written and updated, rigorous, faithful and complete, Paul Davidson has given us a lucid and teachable Keynes for our time. --James K. Galbraith, The University of Texas at AustinPaul Davidson is the keeper of the Keynesian flame. Keynes lives (intellectually), and Davidson is one of the reasons. --Alan S. Blinder, Princeton UniversityTable of ContentsContents: 1. The Background for Keynes’s Revolution 2. The Essential Difference between the General Theory and the Classical System 3. Taxonomy, Axioms and Expenditures Related to Income: Keynes’s D1 Category 4. Investment Spending 5. Government and the Level of Output 6. Delving Further into the Relationship between Money, Liquidity and Uncertainty 7. Liquidity Preference – the Basis of Keynes’s Revolution 8. The Finance Motive and the Interdependence of the Real and Monetary Sectors 9. Financial Markets, Fast Exits and Great Depressions and Recessions 10. Inflation: Causes and Cures 11. Keynes’s Aggregate Supply and Demand Analysis 12. The Demand and Supply of Labour 13. Money in an International Setting 14. Trade Imbalances and International Payments 15. International Liquidity and Exchange Rate Stability 16. Financing the Wealth of Nations 17. Export-led Growth and a Proposal for an International Payments Scheme 18. Epilogue: Truth in Labelling and Economic Textbooks Index
£131.00
Edward Elgar Publishing Ltd Post Keynesian Macroeconomic Theory, Second
Book SynopsisIn this updated and revised edition of Post Keynesian Macroeconomic Theory, Paul Davidson explains how and why contemporary macroeconomic textbooks fail to incorporate Keynes's liquidity and financial analysis framework to explain the importance of money and financial markets in the real world of experience. This important text develops Keynes's analytical framework for both closed and open economies and provides policy guidance for the global economy of the twenty-first century. In particular, it deals with problems such as inflation, financial contagion, global unemployment, outsourcing, trade patterns, and developing an international financial system that encourages expansionary growth among all trading partners while avoiding sovereign debt problems. Using this textbook in macroeconomics courses will provide students with a pragmatic insight that will be both useful and productive. Contents: 1. The Background for Keynes's Revolution 2. The Essential Difference between the General Theory and the Classical System 3. Taxonomy, Axioms and Expenditures Related to Income: Keynes's D1 Category 4. Investment Spending 5. Government and the Level of Output 6. Delving Further into the Relationship between Money, Liquidity and Uncertainty 7. Liquidity Preference the Basis of Keynes's Revolution 8. The Finance Motive and the Interdependence of the Real and Monetary Sectors 9. Financial Markets, Fast Exits and Great Depressions and Recessions 10. Inflation: Causes and Cures 11. Keynes's Aggregate Supply and Demand Analysis 12. The Demand and Supply of Labour 13. Money in an International Setting 14. Trade Imbalances and International Payments 15. International Liquidity and Exchange Rate Stability 16. Financing the Wealth of Nations 17. Export-led Growth and a Proposal for an International Payments Scheme 18. Epilogue: Truth in Labelling and Economic Textbooks IndexTrade ReviewPaul Davidson is the leading expert on Keynes and Keynesianism. --Larry Elliott, GuardianA work of art and science. Beautifully written and updated, rigorous, faithful and complete, Paul Davidson has given us a lucid and teachable Keynes for our time. --James K. Galbraith, The University of Texas at AustinPaul Davidson is the keeper of the Keynesian flame. Keynes lives (intellectually), and Davidson is one of the reasons. --Alan S. Blinder, Princeton UniversityTable of ContentsContents: 1. The Background for Keynes’s Revolution 2. The Essential Difference between the General Theory and the Classical System 3. Taxonomy, Axioms and Expenditures Related to Income: Keynes’s D1 Category 4. Investment Spending 5. Government and the Level of Output 6. Delving Further into the Relationship between Money, Liquidity and Uncertainty 7. Liquidity Preference – the Basis of Keynes’s Revolution 8. The Finance Motive and the Interdependence of the Real and Monetary Sectors 9. Financial Markets, Fast Exits and Great Depressions and Recessions 10. Inflation: Causes and Cures 11. Keynes’s Aggregate Supply and Demand Analysis 12. The Demand and Supply of Labour 13. Money in an International Setting 14. Trade Imbalances and International Payments 15. International Liquidity and Exchange Rate Stability 16. Financing the Wealth of Nations 17. Export-led Growth and a Proposal for an International Payments Scheme 18. Epilogue: Truth in Labelling and Economic Textbooks Index
£48.95
Edward Elgar Publishing Ltd CURRENT CONTROVERSIES IN MACROECONOMICS
Book SynopsisThis book provides a concise yet rigorous discussion of the main issues in modern macroeconomics. In particular, it examines the controversy over the role and conduct of macroeconomic stabilization policy.While the book is written in such a way as to allow students to read individual chapters in isolation, according to their interests and needs, the book follows a structured direction. After providing a review of mainstream macro-models and the chief areas of controversy between Keynesian, Monetarist and New Classical approaches to stabilization policy, subsequent chapters focus on selected key controversies: the balance of payments and exchange rates; inflation and unemployment; money and economic activity; fiscal policy and aggregate demand; and business cycles.The approach adopted by the authors make this book highly responsive to teaching and student needs. This authoritative state-of-the-art survey of modern macroeconomics will be essential reading for intermediate level courses in macroeconomics.Trade Review'. . . usefully recommended as an additional reading for intermediate undergraduate courses.' -- Pasquale Scaramozzino, The Economic JournalTable of ContentsPart 1 Mainstream macro-models and schools of thought: mainstream macro-modesl; mainstream schools of thought. Part 2 The balance of payments and exchange rates: the Mundell-Fleming - Keynesian model under fixed exchange rates; the monetary approach to the balance of payments under fixed exchange rates; the Mundell-Fleming - Keynesian model under flexible exchange rates; the monetary approach under flexible exchange rates; exchange rate models and overshooting. Part 3 Inflation and unemployment: the Phillips curve; the expectations-augmented Phillips curve; policy implications. Part 4 Money and economic activity: monetary policy in the IS-LM model; the determination of the money supply; the demand for money; the transmission mechanism; empirical evidence on the demand for money. Part 5 Fiscal policy and aggregate demand: Keynesian view; monetarist view; the government budget constraint and the controversy over the power of fiscal policy; crowding-out in the AD-AS model. Part 6 Business cycles: the nature of the business cycle; early theories of the business cycle; the equilibrium business cycle; the political business cycle.
£90.00
Edward Elgar Publishing Ltd Wages and Profits in the Capitalist Economy: The
Book SynopsisWages and Profits in the Capitalist Economy provides an incisive study of the impact of monopolistic power on macroeconomic performance in the USA and the UK since 1945, within a post-Kaleckian framework.It provides new evidence to suggest that the implications of monopolistic power, in both product and labour markets, are important in understanding macroeconomic performance. It argues that the rise and fall in profitability that accompanies the cycle of boom and recession is indicative of the operation of oligopolistic markets. Furthermore, the political economy of the distribution of income exacerbates macroeconomic instability. The book concludes that traditional Keynesian approaches favouring solutions to increase economic growth, and neoclassical approaches advocating supply-side policies to suppress conflict over distribution, may offer little prospect of long-term economic stability.Trade Review'Henley nicely integrates Kalecki's theories of distribution and monopoly power with empirical examination of post-war macroeconomic performance in the US and the UK.' -- Cooperative Economic News Service
£102.00
Edward Elgar Publishing Ltd Macroeconomic Theory and Policy: The Selected
Book SynopsisMacroeconomic Theory and Policy is the second collection of Richard G. Lipsey's essays and contains material that has previously remained unpublished or has not been widely available. The book considers the macroeconomic issues of unemployment, inflation and policies to combat inflation, the Keynesian macroeconomy and supply side economics.The book begins with a new autobiographical introduction to the intellectual development, personal achievements and the fields of interest of Richard G. Lipsey and is then divided into five parts. Part one considers the Phillips Curve, wage rates and profits. The second part discusses the various theories of the causes of inflation and explores issues such as the depreciation of money, monetarism and cost-push versus demand-pull inflation. Part three looks at anti-inflation policies, focusing on incomes policies, credit and monetary policy and wage-price controls among other issues. Keynesian macroeconomics is evaluated in the fourth section, as well as inflation and the national income model. The final part considers supply-side economics.Macroeconomic Theory and Policy is an essential reference companion to the work of Richard G. Lipsey, one of the most important economists of our generation.Trade Review'Therefore, these four books published by Edward Elgar will be at the reference desks of all good economic libraries. In addition, the book on monopolistic competition and economic geography needs to enter all reading lists on the currently hottest topic in economics.'Table of ContentsContents: Introduction Part I: Phillips Curves Part II: The Causes of Inflation Part III: Specific Anti-Inflation Policies Part IV: The Keynesian Macroeconomic Model Part V: The Supply Side Name Index
£144.00
Edward Elgar Publishing Ltd Current Issues in Open Economy Macroeconomics:
Book SynopsisOpen economy macroeconomics is a major focus of research interest stimulated in part by the increasing interdependence of the world economy and by the move towards floating exchange rates. This important new book addresses several central issues in the macroeconomic theory of different forms of open economies under differing degrees of dependency.Trade Review'I am very happy to see a collection of papers like this, which uses standard methods of macro-dynamics and sensible down-to-earth models.' -- Stephen J. Turnovsky, University of Washington, US
£106.00
Edward Elgar Publishing Ltd Perspectives on the History of Economic Thought:
Book SynopsisThis major two volume work contains a selection of the best papers presented at the annual meeting of the History of Economics Society. They correct errors of interpretation and undertake constructive analyses. They show the importance of studies of the history of economic thought for an understanding of its influence on our conceptions of the world and on economic, social and political behaviour.Trade Review'. . . Perspectives offers a sparkling collection of stimulating flashes of the mind no one can do without.' -- Albert Jolink, The Economic Journal
£106.00
Edward Elgar Publishing Ltd Economic Stabilization for Developing Countries
Book SynopsisThis key textbook provides a fresh introduction to macroeconomics in developing countries.It presents the main elements of 20th century macroeconomics and shows how the models produced for industrialised societies need to be modified for various groups of less developed countries. It is designed for those who start with little or no economics but need to understand the issues involved in the stabilizing of national income and the price level, and in keeping a sustainable balance of payments. It focuses on a number of measures designed to create stability including fiscal policy, the exchange rate, wages and interest rates. There are several case studies of policy experiments conducted since the mid 1970s.The book will be essential reading for graduate students from developing countries and all students taking courses on development economics.Table of ContentsPart 1 Purposes and concepts: meaning and purposes of economic stabilization; national income, product and expenditure; money and the balance of payments; exchange rates and international money. Part 2 Standard models for stabilization: Keynesian and monetarist approaches; managing the external balance. Part 3 Models for developing countries: relevant differences among types of economy; structuralism - model or attitude of mind?. Part 4 International approaches to stabilization: commodity-price stabilization; earnings compensation and insurance; debt and borrowing. Part 5 Domestic instruments of stabilization: stabilization targets and instruments; fiscal rules; choosing exchange-rate regimes and policies; wage policies; interest-rate policies; adjusting from gross imbalance. Part 6 Case-studies and conclusions: some recent experiments and experiences; concluding lessons.
£109.00
Edward Elgar Publishing Ltd Understanding Macroeconomics: An Introduction to
Book SynopsisUnderstanding Macroeconomics provides short non-technical summaries of important areas of economics, especially those where the alternative literature is either not easily accessible or else highly specialized. An important objective of the book is to provide an analysis of current economic policy. It successfully demonstrates that simple economic analysis can be brought to bear lucidly and penetratingly on economic problems. The result is a book which, for its concise and authoritative survey of major areas, will be an essential purchase for school and college economics teachers and their libraries. It will also prove invaluable to university and polytechnic students of economics seeking an introduction to the application of economic theory to the major problems facing economists today.Trade Review'This is much better than Modern Economic Analysis which I always considered excellent. Clear and yet detailed enough to be of interest at all levels of the subject from "A" level upwards.' -- Peter Desmond, Cheney School, Oxford, UK'David Gowland's chapters are always lucid and written with his usual panache. Difficult concepts are explained clearly and his analysis demonstrates the power of elementary economic theory. It is enjoyable to read and there is plenty to stimulate further reading. I thought the book topical with a good blend of theory and policy issues.' -- Stephen James, Yarm School, Cleverland, UK
£109.00
Edward Elgar Publishing Ltd The New Global Economy and the Developing
Book SynopsisThis book explores the principle issues surrounding the effective participation of the developing countries in the new, more interdependent global economy. It is up-to-date and offers a fresh and critical assessment of traditional approaches in the sphere of international financial and trading policies. Particular emphasis is placed upon what is not known and requires further research. Among the major issues addressed are the impact of the global exchange rate system on developing countries, the efficacy of growth-oriented structural adjustment lending, the future role of foreign direct investment, the relevance of the 'new' trade theories to the developing countries, primary commodity market problems, poverty alleviation in adjustment programmes and the role of information systems.Trade Review'. . . the book bears witness of thorough research, and its lay-out complements the contents. It can be recommended without any hesitation, particularly for teaching and research purposes.'
£109.00
Edward Elgar Publishing Ltd THE ECONOMICS OF RESTRUCTURING AND INTERVENTION
Book SynopsisThe Economics of Restructuring and Intervention carries forward the work of Marx, Kalecki, Keynes and Kaldor in analysing questions of growth, distribution and government intervention. It will be essential reading for all those wishing to understand the massive economic and political shifts as we enter the 1990s - the globalization of markets and production, continued growth of the Third World and East European debt, the emerging digital economy. Political debates thrown up by these economic, industrial and technological developments are subject to rigorous scrutiny and critique - from the employment effects of wage cuts to the calls for ‘supply side socialism’.Table of ContentsContents: Introduction Part I: The Global Economy 1. The Modern Dialectic: Ideology and Economic Reality (John Kenneth Galbraith) 2. The Economic Instability of the 1980s (Ferdinando Targetti) 3. East European Debt: A Comparative Perspective (Hans van Zon) Part II: Kalecki and Kaldor 4. Kalecki and Kaldor on Development Finance (Laurence Harris) 5. Kaldor's Vision of the Growth and Development Process (A.P. Thirlwall) 6. Analysing the Operation of Market Economies in the Spirit of Kaldor and Kalecki (Malcolm C. Sawyer) Part III: Wages and Prices 7. The Search for a 'Stylised Fact' of Cyclical Wages (Jonathan Michie) 8. Efficiency Wages: Mark-up Pricing and Effective Demand (Peter Skott) 9. The Economic of Shortage: A Post-Kaleckian Approach (Malcolm C. Sawyer) Part IV: Supply Side Socialism 10. Industrial Restructuring and Public Intervention (Nicholas Costello, Jonathan Michie and Seumas Milne) 11. Supply Side Socialism in the UK: A Post-Keynesian Perspective (Philip Arestis)
£99.00
Edward Elgar Publishing Ltd MACROECONOMIC THEORY: Diversity and Convergence
Book SynopsisThis unique book focuses on the central issues in macroeconomics - examining some of the lively theoretical controversies troubling contemporary economists - in order to establish a genuine basis for communication between the alternative theoretical traditions.The past two decades have witnessed the emergence of several competing approaches to macroeconomic analysis: post Keynesian economics, Kaleckian analysis, neo-Ricardian theory, the neo-Austrian school, the Rational Expectations School etc. This book presents new work by 14 respected economists from nine different countries who address a series of unresolved yet well-defined issues in monetary theory and policy, market structure and accumulation, and problems of effective demand and the theory of distribution. The main purpose of Macroeconomic Theory is to identify areas of common ground among the various theoretical approaches. The excitement of that dialogue and the intellectual vitality generated are captured for the reader in a volume that will be essential for an understanding of modern macroeconomic theory.Trade Review'This collection is a stimulus to the further development of post-classical political economy.' -- John Hillard, The Economic Journal'The book's aim of providing a bridge "across" heterodox schools is undeniably a courageous undertaking. It would be quite easy to miss such an idealistic mark, but Mongiovi and Ruhl do not miss. While the text will be most useful to one steeped in the views of the schools in question, it does not preclude its use as a preliminary avenue into the subtleties of the various analyses in question. Our profession would certainly benefit from more economists willing to follow in these footsteps.' -- Michael C. Carroll, Review of Social Economy
£109.00
Edward Elgar Publishing Ltd A History of Macroeconometric Model-Building
Book SynopsisThis major book presents, for the first time, an authoritative history of developments in macroeconometric modelling since the 1930s. It focuses in particular on the construction of mathematico-statistical models of entire economies, estimated from national accounts and other macroeconomic data. International and comparative in scope, the book contains chapters prepared by specialists from the different countries concerned. This landmark book is indispensable to an understanding of the history and development of large scale econometric models of modern economies.Trade Review’This is highly recommended reading for all model-builders and model-users.’Table of ContentsContents: Part I: Introduction 1. Antecedents of Macroeconometric Models 2. Econometric Model-Building at the Origins Part II: Experience in the USA 3. American Econometric Models of the 1950s: the Klein-Goldberger Model 4. Expansion and Theoretical Development During the 1960s: the Brookings Model as a Milestone 5. American Econometric Models of the 1970s Part III: Comparative Experience 6. The History of Dutch Macroeconometric Modelling, 1936–1986 (A.P. Barten) 7. Macroeconometric Model-Building in the United Kingdom (Sir J. Ball and S. Holly) 8. Macroeconomic Modelling in France (R. Courbis) 9. Canadian Macroeconometric Modelling, 1947–1979 and Selectively Beyond 10. Econometric Models of the Japanese Economy (K. Sato) 11. Macroeconometric Modelling of South-East Asia: the Case of India 12. Macroeconometric Modelling of Latin American Countries, 1965–1985 (A. Beltran-del-Rio) Part IV: Systems of Models 13. Regional Econometric Models (Roger Bolton) 14. Project LINK and Multicountry Modelling (B.G. Hickman) Part V: Summing Up 15. A History of Computation in Econometrics 16. Lessons from Half a Century of Macroeconometric Modelling 17. Prospects for Macroeconomic Modelling
£179.00
Edward Elgar Publishing Ltd Controversies in Post Keynesian Economics
Book SynopsisControversies in Post Keynesian Economics proves that it is possible to meet the most exacting scholarly standards while also managing to make economics enjoyable to read. Professor Davidson provides a lucid review of the debates between neoclassical Keynesians, monetarists and post Keynesians. These debates have been rekindled as a result of the revitalisation of the post Keynesian tradition coupled with the failure of the monetarist approach to explain economic developments in the 1980s. He develops this history of the struggle for the minds of economists, as well as explaining in intelligible language, the different roles assigned to money, contracts and the uncertainty of the inflationary process. In conclusion, he discusses which of these theories is likely to be most relevant to the economic problems that will be facing the free world in the 21st century. Trade Review’Useful supplementary reading for upper-level undergraduates.’
£27.50
Edward Elgar Publishing Ltd INDUSTRIAL REFORM IN SOCIALIST COUNTRIES: From
Book SynopsisThis landmark book provides an up-to-date assessment and evaluation of industrial reform in 14 countries. Topics covered in detail include the changing role of the industrial enterprise, the state and private sectors, privatization, pricing, foreign trade and direct foreign investment. Emphasis is placed on events since 1989, the year of 'revolution' in Eastern Europe.Few of the countries are now traditionally 'socialist'. Cuba and North Korea can be so described, economically and politically. China and Vietnam grapple with market-orientated economic reforms while in the firm grip of the Communist Party. Other countries are now at various distances along the road to democracy and the market. These 'emerging democracies' or 'emerging market economies' face new and formidable challenges in making the transition from predominantly state-owned, planned economies to market economies based on private property. East Germany has been reunited with the Federal Republic, but the former industrial sector has been badly hit. The Soviet Union and Yugoslavia, on the other hand, are disintegrating. Their emerging, independent states face daunting tasks; one critical question is whether they can form voluntary and sustainable economic unions.This book provides authoritative up-to-date studies of industrial reform in socialist countries and will be essential reading for anyone with an interest in the transition to market economies in post-Communist societies.Trade Review'. . . the book contains a wealth of information on the current process of industrial restructuring and transformation in the former Centrally Planned Economies (CPEs). The editor is to be congratulated on putting together a highly readable set of essays on these very important problems. It should become required reading for students of the political economy of transformation as well as for the specialists and practitioners dealing with the problems of restructuring in the former CPEs.' -- Igor Filatochev, The World EconomyTable of ContentsContents: 1. Industrial Reform in Historical Perspective (I. Jeffries) 2. Albania: the Purge of Stalinist Ideology (A. Schnytzer) 3. Innovation with an Unchanging Core: No Path to the Market in Bulgaria? (R.J. McIntyre) 4. Industrial Reform in China (R.C. Hsu) 5. Industrial Reform and the Cuban Economy (A. Zimbalist) 6. Industrial Reform in Czechoslovakia (L. Rychetnik) 7. East Germany (I. Jeffries) 8. Hungary (P. Hare) 9. Mongolia (M. Kaser) 10. North Korea (I. Jeffries) 11. Poland (G. Blazyca) 12. The Romanian Enterprise (A.H. Smith) 13. The Soviet Industrial Enterprise in the 1980s (G.E. Schroeder) 14. Industrial Reform in Vietnam (M. Beresford) 15. Reform in Yugoslavia: the Retreat from Self-Management (S. Estrin and L. Takla)
£115.00
Edward Elgar Publishing Ltd MAJOR INFLATIONS IN HISTORY
Book SynopsisThis volume is concerned with periods of very rapid inflation in the period before 1950 and shifts the emphasis from hyperinflation as commonly defined to a wider range of experience. It examines the source and origins of these inflationary episodes, how they started and what measures were used to bring them to an end. The experience of the last twenty years, when the entire world has been on fiat money and inflation has burgeoned, sometimes in excess of 100 per cent per annum, has led economists to reflect on historical examples of this phenomena. The extreme nature of episodes such as the German inflation of the early 1920s ensures that they offer a special kind of evidence on money and prices that is of considerable interest at the present time. Much of the material here is very recent, as relatively little contemporary attention was given to inflations and much of the best scholarship has only appeared in the last twenty years. However, this volume also provides the reader with access to the reflections of contemporary economists, such as Joan Robinson and Gordon Tullock.Trade Review'. . . a collection of important articles which will be most useful for students of monetary disorder.'Table of ContentsContents Introduction Part I: The Sources, Development and Ending of Major Inflations 1. Forrest Capie (1986), ‘Conditions in which Very Rapid Inflation has Appeared’ 2. Phillip Cagan (1956), ‘The Monetary Dynamics of Hyperinflation’ 3. Thomas J. Sargent (1982), ‘The Ends of Four Big Inflations’ Part II: Inflations before 1900 4. Francis T. Lui (1983), ‘Cagan's Hypothesis and the First Nationwide Inflation of Paper Money in World History’ 5. Bruce D. Smith (1985), ‘Some Colonial Evidence on Two Theories of Money: Maryland and the Carolinas’ 6. Earl J. Hamilton (1977), ‘The Role of War in Modern Inflation’ 7. Andrew Dickson White (1959), ‘Fiat Money Inflation in France’ 8. Milton Friedman (1951), ‘The Role of War in American Economic Development: Prices, Income and Monetary Changes in Three Wartime Periods’ 9. Eugene M. Lerner (1954), ‘The Monetary and Fiscal Programs of the Confederate Government, 161–65’ 10. Eugene M. Lerner (1955), ‘Money, Prices and Wages in the Confederacy’ Part III: The 1920s 11. Costantion Bresciani-Turroni (1937), ‘The National Finances, the Inflaton and the Depreciation of the Mark’ 12. Joan Robinson (1938), ‘Review of Bresciani-Turroni's The Economics of Inflation’ 13. Carl-Ludwig Holtfrerich (1986), ‘The Determinants of Monetary Expansion’ 14. Stephen B. Webb (1985), ‘Government Debt and Inflationary Expectations as Determinants of the Money Supply in Germany’ 15. Charles Maier (1978), ‘The Politics of Inflation in the Twentieth Century’ 16. Rodney L. Jacobs (1977), ‘Hyperinflation and the Supply of Money’ Part IV: Inflations in the 1940s 17 Bertrand Nogaro (1948), ‘Hungary's Recent Monetary Crisis and its Theoretical Meaning’ 18. Andrew C. Huang (1948), ‘The Inflation in China’ 19. Colin D. Campbell and Gordan C. Tullock (1954), ‘Hyperinflation in China, 1937–49’ 20. Gail E. Makinen (1986), ‘The Greek Hyperinflation and Stabilization of 1943–46’ 21. William A. Bomberger and Gail E. Makinen (1983), ‘The Hungerian Hyperinflation and Stabilization of 1945–6’ Name Index
£290.00
