Macroeconomics Books

Book SynopsisThe fundamental role of individual ageing is something that everyone is necessarily aware of, and the division of the life cycle into a number of distinct stages has been recognised for many centuries.This volume collects 32 articles concerned with a variety of economic aspects of individual and population ageing. They have been arranged under four main headings as follows: individual ageing and the life cycle; population ageing; ageing and social insurance; and macroeconomic effects. The editor has prepared a fresh introduction to accompany the piece which aims to set the context and discuss some of the major issues.Trade Review'. . . it is a marvellous idea to publish a collection of the most influential articles in a specific field. The series could become an important first reference for students and young teachers who turn to a new research area.' -- Hans Fehr, KyklosTable of ContentsCONTENTS ACKNOWLEDGMENTS INTRODUCTION PART I INDIVIDUAL AGEING AND THE LIFE CYCLE 1. Harold Lydall (1955), ‘The Life Cycle in Income, Saving, and Asset Ownership’ 2. Yoram Ben-Porath (1967), ‘The Production of Human Capital and the Life Cycle of Earnings’ 3. John Creedy (1974), ‘Income Changes over the Life Cycle’ 4. James L. Medoff and Katharine G. Abraham (1980), ‘Experience, Performance, and Earnings’ 5. Edward P. Lazear (1979), ‘Why Is There Mandatory Retirement?’ 6. A. B. Atkinson (1971), ‘The Distribution of Wealth and the Individual Life-Cycle’ 7. A. F. Shorrocks (1975), ‘The Age-Wealth Relationship: A Cross-Section and Cohort Analysis’ 8. Thad W. Mirer ((1980), ‘The Dissaving Behavior of the Retired Aged’ PART II POPULATION AGEING 9. Alfred Sauvy (1948), ‘Social and Economic Consequences of the Ageing of Western European Populations’ 10. William J. Serow (1976), ‘Slow Population Growth and the Relative Size and Productivity of the Male Labor Force’ 11. David M. Cutler, James M. Poterba, Louise M. Sheiner and Lawrence H. Summers (1990), ‘An Aging Society: Opportunity or Challenge?’ 12. Finis Welch (1979), ‘Effects of Cohort Size on Earnings: The Baby Boom Babies’ Financial Bust’ 13. Christopher A. Pissarides (1989), ‘Unemployment Consequences of an Aging Population: An Application of Insider-Outsider Theory’ 14. Brian S. Ferguson (1986), ‘Labour Force Substitution and the Effects of an Ageing Population’ 15. Jane Falkingham (1989), ‘Dependency and Ageing in Britain: A Re-Examination of the Evidence’ PART III AGEING AND SOCIAL INSURANCE 16. Paul A. Samuelson (1958), ‘An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money’ 17. Henry Aaron (1966), ‘The Social Insurance Paradox’ 18. Paul A. Samuelson (1975), ‘Optimum Social Security in a Life-Cycle Growth Model’ 19. P. A. Diamond (1977), ‘A Framework for Social Security Analysis’ 20. Michael J. Boskin (1977), ‘Social Security and Retirement Decisions’ 21. Martin Feldstein (1974), ‘Social Security, Induced Retirement, and Aggregate Capital Accumulation’ 22. Joseph J. Spengler (1978), ‘Population Aging and Security of the Aged’ 23. A. R. Prest (1970), ‘Some Redistributional Aspects of the National Superannuation Fund’ 24. Barbara Boyle Torrey (1982), ‘Guns vs Canes: The Fiscal Implications of an Aging Population’ 25. William A. Halter and Richard Hemming (1987), ‘The Impact of Demographic Change on Social Security Financing’ 26. Robert Clark (1977), ‘Increasing Income Transfers to the Elderly Implied by Zero Population Growth’ 27. John A. Turner (1984), ‘Population Age Structure and the Size of Social Security’ 28. John Creedy and Richard Disney (1992), ‘Financing State Pensions in Alternative Pay-As-You-Go Schemes’ 29. Robert K. von Weizsäcker (1990), ‘Population Aging and Social Security: A Politico-Economic Model of State Pension Financing’ PART IV MACROECONOMIC EFFECTS 30. F. A. Cowell (1975), ‘Income Tax Incidence in an Ageing Population’ 31. Paul R. Masson and Ralph W. Tryon (1990), ‘Macroeconomic Effects of Projected Population Aging in Industrial Countries’ 32. Ray C. Fair and Kathryn M. Dominguez (1991), ‘Effects of the Changing U. S. Age Distribution on Macroeconomic Equations’

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Book SynopsisThe macroeconomics of imperfect competition is a field which has witnessed an almost exponential growth in the last twenty years. The reason for this success is simple as this field combines two important, and hitherto incompatible, features: On one hand, like Walrasian or new classical macroeconomics it has fully rigorous microeconomic foundations. On the other hand, like Keynesian macroeconomics (which itself lacked such foundations) it can produce underemployment of resources and macroeconomic coordination failures. This successful blend of the General Equilibrium, Keynesian and Imperfect Competition traditions has become a most influential paradigm in macroeconomics.Jean-Pascal Benassy, himself the author of several pioneering contributions, has assembled leading articles in the field and written an extensive introduction putting them and other contributions in the area into perspective. This volume will be a basic reference source for professors, students and researchers in this important and rapidly expanding field.Trade Review'This is an outstanding and excellent collection, which is edited by one of the leading researchers in the field. . . . This volume will make an excellent reference book for any graduate macroeconomics course, and for those wishing to do research in the area.'Table of ContentsACKNOWLEDGEMENTS INTRODUCTION PART I GENERAL EQUILIBRIUM MODELS 1. Takashi Negishi (1977), ‘Existence of an Under-Employment Equilibrium’ 2. Jean-Pascal Bénassy (1977), ‘A Neokeynesian Model of Price and Quantity Determination in Disequilibrium’ 3. Oliver D. Hart (1982), ‘A Model of Imperfect Competition with Keynesian Features’ 4. Dennis J. Snower (1983), ‘Imperfect Competition, Underemployment and Crowding-Out’ 5. Martin L. Weitzman (1985), ‘The Simple Macroeconomics of Profit Sharing’ 6. Jean-Pascal Bénassy (1987), ‘Imperfect Competition, Unemployment and Policy’ 7. Olivier Jean Blanchard and Nobuhiro Kiyotaki (1987), ‘Monopolistic Competition and the Effects of Aggregate Demand’ 8. Huw Dixon (1987), ‘A Simple Model of Imperfect Competition with Walrasian Features’ 9. Huw Dixon (1990), ‘Imperfect Competition, Unemployment Benefit and the Non-Neutrality of Money: An Example’ 10. Jean-Pascal Bénassy (1991), ‘Microeconomic Foundations and Properties of a Macroeconomic Model with Imperfect Competition’ PART II IMPERFECT COMPETITION AND PRICE RIGIDITIES A MARKET STRUCTURE 11. Paul M. Sweezy (1939), ‘Demand under Conditions of Oligopoly’ 12. Joseph E. Stiglitz (1984), ‘Price Rigidities and Market Structure’ B COSTLY PRICE CHANGES 13. Robert J. Barro (1972), ‘A Theory of Monopolistic Price Adjustment’ 14. Julio J. Rotemberg (1983), ‘Aggregate Consequences of Fixed Costs of Price Adjustment’ C INVENTORIES 15. Alan S. Blinder (1982), ‘Inventories and Sticky Prices: More on the Microfoundations of macroeconomics’ D IMPERFECT INFORMATION 16. Torben M. Andersen (1985), ‘Price and Output Responsiveness to Nominal Changes under Differential Information’ 17. Kiyohiko G. Nishimura (1986), ‘Rational Expectations and Price Rigidity in a Monopolistically Competitive Market’ E STICKY PRICES AND ASSET PRICING 18. Lars E. O. Svensson (1986), ‘Sticky Goods Prices, Flexible Assert Prices, Monopolistic Competition, and Monetary Policy’ F MACROECONOMIC RATIONING 19. Henri R. Sneessens (1987), ‘Investment and the Inflation-Unemployment Tradeoff in a Macroeconomic Rationing Model with Monopolistic Competition’ PART III LABOUR MARKETS I TRADE UNIONS 20. Wassily Leontief (1946), ‘The Pure Theory of the Guaranteed Annual Wage Contract’ 21. Andrew J. Oswald (1979), ‘Wage Determination in an Economy with Many Trade Unions’ 22. Ian M. McDonald and Robert M. Solow (1981), ‘Wage Bargaining and Employment’ 23. Lars Calmfors (1982), ‘Employment Policies, Wage Formation and Trade Union Behavior in a Small Open Economy’ B WAGE INDEXATION 24. Jo Anna Gray (1976), ‘Wage Indexation: A Macroeconomic Approach’ C IMPLICIT CONTRACTS 25. Charles R. Bean (1984), ‘Optimal Wage Bargains’ D EFFICIENCY WAGES 26. Carl Shapiro and Joseph E. Stiglitz (1984), ‘Equilibrium Unemployment as a Worker Discipline Device’ E INSIDERS-OUTSIDERS 27. Nils Gottfries and Henrik Horn (1987), ‘Wage Formation and the Persistence of Unemployment’ 28. Assar Lindbeck and Dennis J. Snower (1988), ‘Cooperation, Harassment, and Involuntary Unemployment: An Insider-Outsider Approach’

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Book SynopsisIn Finance, Investment and Macroeconomics, Myron J. Gordon advances a theory of finance and investment under uncertainty and risk aversion which resolves problems left unsolved by Keynes in a manner consistent with his work. Keynes established that both the short-run and long-run performance of a capitalist system depend upon investment, but he failed to arrive at an alternative to the neoclassical theory of investment. Professor Gordon demonstrates that the extension of neoclassical theory to deal with uncertainty and risk aversion is based upon a string of assumptions which are empirically false. The competitive stationary state, the foundation for the neoclassical theory of a capitalist system, is shown to be unfeasible because it results in a very high probability of bankruptcy at the micro level and the system's early collapse on the macro level. Capitalists seeking long term survival are shown to be subject to a growth imperative, to the pursuit of monopoly power, and to a concern for financial policy. Later sections of the book discuss the consequences of this behaviour for short-run fluctuations and the long-run development of capitalist systems. This innovative book advances an important new theory of finance and investment which recognizes the problem of bankruptcy when the future is uncertain. It will be welcomed by both post Keynesian and neoclassical economists as a significant contribution to current economic understanding.Trade Review'This is an important book. . .' -- Basil J. Moore, Journal of Economic Literature'. . . the book provides interesting materials for the development of alternative economic theories.' -- Carlo Panico, The Manchester SchoolTable of ContentsContents: Part I: Introduction Part II: Neoclassical Theory Part III: A Post Keynesian Theory Part IV: A Theory of Economic Systems

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Book SynopsisThis timely volume features essays from an international group of economists which address issues relating to the objective of securing full employment. The contributors adopt a politicP>As well as offering a detailed empirical investigation of the unemployment experience in advanced countries, the book makes a critical evaluation of New Right economic policy making in the UK and the US, and examines the main international and domestic obstacles to the achievement of full employment, the prospects for job creation in the UK, and the impact of technological change.Trade Review’This is a collection of good papers addressing one of the compelling issues of our time.’Table of ContentsContents: Introduction: Obstacles to, and Strategies for, the Achievement of Full Employment 1. Obstacles to Full Employment in Capitalist Economies 2. Technological Unemployment 3. Assessing the Costs of Inflation and Unemployment 4. Thatcherism and Unemployment in the UK 5. Unemployment, Job Creation and Job Destruction in the UK Since 1979 6. Restructuring, Flexibility and the New Right in the US: the Political Economy of Plutocracy 7. High Wages, Enlightened Management and Economic Productivity 8. Wage-employment Determination in a Post-Keynesian World 9. Unemployment Experience and the Institutional Preconditions for Full Employment 10. Lessons from the Experience of the Swedish Model 11. Corporatism in Australia 12. Economic Development in the Industrialized Countries and the Prospects for Full Employment 13. European Monetary Integration and Unemployment in the Periphery Index

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Book SynopsisThis volume contains a selection of articles on and by Nicholas Kaldor which concentrate on his theoretical and applied economics of growth. Part 1 features an autobiographical article by Kaldor, three biographical sketches, and a hitherto unpublished conversation with A.P. Thirlwall on Kaldor's life and work. Part 2 includes his early contributions to steady-state growth theory, including two of his best-known models, a number of critical appraisals, and Kaldor's replies. Part 3 deals with his long flirtation with Verdoorn's Law, while the articles in Part 4 cover the last stage of Kaldor's thinking on growth and concentrate on world economy models of increasing returns and export-constrained growth.Trade Review'This is a well-edited book in which the interested reader can find almost all the important papers on the Kaldorian approach to economic growth. Thus the book merits a place in the library of all those who are seriously interested in theoretical and empirical aspects of the subject.' -- S.A. Drakpoulos, Economic JournalTable of ContentsPART I NICHOLAS KALDOR 1. Nicholas Kaldor (1986), ‘Recollections of an Economist’ 2. Luigi L. Pasinetti (1983), ‘Nicholas Kaldor: A Few Personal Notes’ 3. G.C. Harcourt (1988), ‘Nicholas Kaldor, 12 May 1908 - 30 September 1986’ 4. Mark Blaug (1990), ‘Nicholas Kaldor, 1908 - 86’ 5. A.P. Thirlwall (1992), ‘Talking About Kaldor’ PART II THE CAMBRIDGE GROWTH THEORIST 6. Nicholas Kaldor (1954), ‘The Relation of Economic Growth and Cyclical Fluctuations’ 7. Nicholas Kaldor (1957), ‘A Model of Economic Growth’ 8. Nicholas Kaldor and James A. Mirrlees (1962), ‘A New Model of Economic Growth’ 9. Kurt W. Rothschild (1959), ‘The Limitations of Economic Growth Models: Critical Remarks on Some Aspects of Mr. Kaldor’s Model’ 10. Ronald Findlay (1960), ‘Economic Growth and the Distributive Shares’ 11. Nicholas Kaldor (1960), ‘A Rejoinder to Mr. Findlay’ 12. José Encarnación, Jr. (1962), ‘Overdeterminateness in Kaldor’s Growth Model’ 13. N. Kaldor (1962), ‘Overdeterminateness in Kaldor’s Growth Model: A Comment’ 14. G.C. Harcourt (1963), ‘A Critique of Mr. Kaldor’s Model of Income Distribution and Economic Growth’ 15. K. Kubota (1968), ‘A Re-Examination of the Existence and Stability Propositions in Kaldor’s Growth Models’ 16. B.T. McCallum (1969), ‘The Instability of Kaldorian Models’ 17. D. Mario Nuti (1969), ‘The Degree of Monopoly in the Kaldor-Mirrlees Growth Model’ 18. Joan Robinson (1969), ‘A Further Note’ 19. Nicholas Kaldor (1970), ‘Some Fallacies the Interpretation of Kaldor’ 20. K. Kubota (1970), ‘A Comment on Kaldor’s Note’ 21. D.G. Champernowne (1971), ‘The Stability of Kaldor’s 1957 Model’ 22. F.H. Hahn (1989), ‘Kaldor on Growth’ PART III THE ROMANCE WITH VERDOORN 23. Nicholas Kaldor (1966), ‘Causes of the Slow Rate of Economic Growth of the United Kingdom’ 24. J.N.Wolfe (1968), ‘Productivity and Growth in Manufacturing Industry: Some Reflections on Professor Kaldor’s Inaugural Lecture’ 25. Nicholas Kaldor (1968), ‘Productivity and Growth in Manufacturing Industry: A Reply’ 26. Jorge M. Katz (1968), ‘“Verdoorn Effects”, Returns to Scale, and the Elasticity of Factor Substitution’ 27. R.E. Rowthorn (1975), ‘What Remains of Kaldor’s Law?’ 28. Nicholas Kaldor (1975), ‘Economic Growth and the Verdoorn Law: A Comment on Mr. Rowthorn’s Article’ 29. R.E. Rowthorn (1975), ‘A Reply to Lord Kaldor’s Comment’ 30. John Cornwall (1976), ‘Diffusion, Convergence and Kaldor’s Laws’ 31. A. Parikh (1978), ‘Differences in Growth Rates and Kaldor’s Laws’ 32. R.E. Rowthorn (1979), ‘A Note on Verdoorn’s Law’ 33. P.J.Verdoorn (1980), ‘Verdoorn’s Law in Retrospect: A Comment’ 34. A.P. Thirlwall (1980), ‘Rowthorn’s Interpretation of Verdoorn’s Law’ 35. P. Stoneman (1979), ‘Kaldor’s Law and British Economic Growth: 1800-1970’ 36. J.S.L. McCombie (1980), ‘On the Quantitative Importance of Kaldor’s Laws’ 37. M. Chatterji and M. Wickens (1981), ‘Verdoorn’s Law - The Externalities Hypothesis and Economic Growth in the U.K.’’ 38. N. Kaldor (1981), ‘Discussion’ [of Chatterji and Wickens] 39. J.S.L.McCombie (1981), ‘What Still Remains of Kaldor’s Laws?’ 40. A.P. Thirlwall (1983), ‘Introduction’ [to ‘Symposium on Kaldor’s Growth Laws]’ 41. A.P. Thirlwall (1983), ‘A Plain Man’s Guide to Kaldor’s Growth Laws’ PART IV INCREASING RETURNS, DECREASING RETURNS AND CUMULATIVE CAUSATION 42. Nicholas Kaldor (1970), ‘The Case for Regional Policies’ 43. R. Dixon and A.P. Thirlwall (1975), ‘A Model of Regional Growth-Rate Differences on Kaldorian Lines’ 44. Nicholas Kaldor (1979), ‘Equilibrium Theory and Growth Theory’ 45. Nicholas Kaldor (1986), ‘Limits on Growth’ 46. Ferdinando Targetti (1985), ‘Growth and the Terms of Trade: A Kaldorian Two Sector Model’ 47. A.P. Thirlwall (1986), ‘A General Model of Growth and Development on Kaldorian Lines’ 48. David Canning (1988), ‘Increasing Returns in Industry and the Role of Agriculture in Growth’ 49. H. Molana and D. Vines (1989), ‘North-South Growth and the Terms of Trade: A Model on Kaldorian Lines’ 50. Amitava Krishna Dutt (1992), ‘A Kaldorian Model of Growth and Development Revisited: A Comment on Thirlwall’ 51. A. P. Thirlwall (1992), ‘A Kaldorian Model of Growth and Development Revisited: A Rejoinder to Dutt’

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Book SynopsisAxel Leijonhufvud has made a unique contribution to the development of macroeconomic theory. This volume draws together his insightful essays dealing with the extremes of economic instability: great depressions, high inflation and the transition from socialism to a market economy. In several of the papers, Leijonhufvud brings a neo-institutionalist perspective to the problems of coordination in economic systems.The papers within Macroeconomic Instability and Coordination some of them already considered classics, deal with the questions that dominated Leijonhufvud's interest throughout his career as an economist: what are the limits to an economy's capacity to coordinate the activities of its members? How does the behavior of the system change under extreme conditions? In what ways does its performance depend upon the institutions that govern the market process? This book presents in one volume several of Axel Leijonhufvud's most important contributions to macroeconomic theory and monetary economics. It will be invaluable to monetary and financial economists as well as to historians of economic thought.Table of ContentsContents: Preface Part I: Keynesianism, Monetarism and Rational Expectations Part II: Monetary Regimes and Inflation Part III: Markets, Firms and the Division of Labor Part IV: Problems of Socialist Transformation Part V: Reflections Bibliography Index

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Book SynopsisThese two volumes provide a range of perspectives on the collapse of the world economy in the interwar period, a time when problems of crisis and confrontation drastically affected world economic performance. During this period, national and international politics intruded upon global economic relations with more intensity than before. Trade and finance became instruments of government policy with the emergence of macroeconomic analyses of domestic economic performance. While the volumes concentrate on the major trends in the global economy as a whole, attention is also paid to developments in particular economies.The editor’s introduction provides a thematic overview of the main questions raised by this complex period. The Disintegration of the World Economy Between the World Wars, with its focus upon the period’s newly developing concepts for understanding trade and the macroeconomy, will be essential reading for understanding the growth and development of the world economy.Table of ContentsVolume I Acknowledgements Introduction Part I: A Contemporary’s Overview 1. H.D. Henderson (1955), ‘International Economic History of the Inter-war Period’ Part II: The Patterns of Trade, 1919-1939 2. W.A. Lewis (1952), ‘World Production, Prices and Trade, 1870-1960’ 3. H. Tyszynski (1951), ‘World Trade in Manufactured Commodities, 1899-1950’ 4. League of Nations (1942), ‘The System of Multilateral Trade’ 5. S. Grassman (1980), ‘Long-term Trends in Openness of National Economies’ 6. M. Beenstock and P. Warburton (1983), ‘Long-term Trends in Economic Openness in the United Kingdom and the United States’ 7. G. Hardach (1977), ‘Decentralization of the International Economy’ 8. United Nations (1949), ‘Capital Movements 1919–1939’ Part III: International Politics and Policies: Two Recent Overviews 9. C.P. Kindleberger (1989), ‘Commercial Policy Between the Wars’ 10. J. Redmond (1992), ‘The Gold Standard Between the Wars’ Part IV: The 1920s and the Reconstruction of the World Economy: The Limits of Internationalism 11. R. Nurkse (1944), ‘The Gold Exchange Standard’ 12. V.P. Timoshenko (1933), ‘Prices, Production, and Stocks of Principal Agricultural Commodities’ 13. J.W.F. Rowe (1935), ‘Artificial Control Schemes and the World’s Staples’ 14. United Nations (1947), ‘International Cartels in the Inter-War Period’ 15. S.V.O. Clarke (1973), ‘The Negotiations of 1922’ 16. M.E. Falkus (1971), ‘United States Economic Policy and the “Dollar Gap” of the 1920’s’ 17. S.A. Schuker (1985), ‘American “Reparations” to Germany, 1919-1933’ 18. B. Eichengreen (1980), ‘International Policy Coordination in Historical Perspective: A View from the Interwar Years’ 19. S.N. Broadberry (1989), ‘Monetary Interdependence and Deflation in Britain and the United States Between the Wars’ Name Index Volume II Acknowledgements Part I: The Emerging Crisis, 1929-1931 1. I. Fisher (1933), ‘The Debt-Deinflation Theory of Great Depression’ 2. B. Eichengreen (1992), ‘The Origins and Nature of the Great Slump Revisited’ 3. A. Newell and J.S.V. Symons (1988), ‘The Macroeconomics of the Interwar Years: International Comparisons’ 4. D. Williams (1963), ‘The 1931 Financial Crisis’ 5. D.E. Moggridge (1970), ‘The 1931 Financial Crisis – A New View’ 6. E.U. Choudhri and L.A. Kochin (1980), ‘The Exchange Rate and the International Transmission of Business Cycle Disturbances’ 7. B. Bernanke and H. James (1991), ‘The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison’ 8. H. James (1992), ‘Financial Flows Across Frontiers during the Interwar Depression’ 9. J. Foreman-Peck, A.H. Hallet and Y. Ma (1992), ‘The Transition of the Great Depression in the United States, Britain, France and Germany’ Part II: The Response to Crisis 10. H.V. Hodson (1933), ‘Tariffs and Exchange Control: The Struggle to Escape’ 11. S. Handelsbanken (1933), ‘The Great Trade War’ 12. P.A. Gourevitch (1984), ‘Breaking with Orthodoxy: The Politics of Economic Policy Responses to the Depression of the 1930s’ 13. C.A. Wurm (1989), ‘International Industrial Cartels, the State and Politics’ 14. D. MacDougall and R. Hutt (1954), ‘Imperial Preference: A Quantitative Analysis’ 15. P. Clavin (1991), ‘The World Economic Conference 1933: The Failure of British Internationalism’ 16. T.J.T. Rooth (1986), ‘Tariffs and Trade Bargaining: Anglo-Scandinavian Economic Relations in the 1930s’ 17. A.S. Milward (1981), ‘The Reichsmark Bloc and the International Economy’ 18. L. Neal (1979), ‘The Economics and Finance of Bilateral Clearing Agreements: Germany, 1934-8’ 19. V. Hentschel (1990), ‘Indicators of Real Effective Exchange Rates of Major Trading Nations from 1922 to 1937’ 20. B. Eichengreen and J. Sachs (1985), ‘Exchange Rates and Economic Recovery in the 1930s’ Part III: Trade Policy, Global Depression and the Developing World 21. C.H. Lee (1969), ‘The Effects of the Depression on Primary Producing Countries’ 22. V.P. Timoshenko (1930), ‘The Collapse of 1929-31’ and ‘The Spread of Depression’ 23. B. Eichengreen and R. Portes (1986), ‘Debt and Default in the 1930s: Causes and Consequences’ 24. I. Yamazawa (1975), ‘Industrial Growth and Trade Policy in Prewar Japan’ 25. C.F.D. Alejandro (1984), ‘Latin America in the 1930s’ 26. J.M. Campa (1990), ‘Exchange Rates and Economic Recovery in the 1930s: An Extension to Latin America’ Part IV: Contemporaries Look Forward 27. D.H. Robertson (1938), ‘The Future of International Trade’ 28. R.B. Bryce (1942), ‘Basic Issues in Postwar International Economic Relations’ Name Index

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Book SynopsisThis is the first title in The Growth of the World Economy series and collects together the most significant research and scholarship on a crucial period in the growth of international trade, from the fifteenth to the seventeenth centuries.This three hundred year span saw a dramatic expansion in the volume of world trade. Trade during this period became more truly international due to the rise of the nation-state in Europe.Articles are written by leading scholars around the world and take up such topics as the emergence of new world trade routes, trade in particular goods and commodities, European trade policies and mercantilism. With its focus on the beginnings of world trade, Trade in the Pre-Modern Era, 1400-1700 will be an indispensable reference source for all researchers concerned with the initial development of both international trade and the expansion of the world economy.Table of ContentsVolume I Acknowledgements Introduction Part I: World Perspectives and Overview 1. R. Findlay (1992), ‘The Roots of Divergence: Western Economic History in Comparative Perspective’ 2. P.R. Milgrom (1990), ‘The Role of Institutions in the Revival of Trade: The Law Merchant, Private Judges, and the Champagne Fairs’ 3. F. Mauro (1993), ‘Towards an “Intercontinental Model”: European Overseas Expansion Between 1500 and 1800’ 4. R. Findlay (1993), ‘International Trade and Factor Mobility with an Endogenous Land Frontier: Some General Equilibrium Implications of Chrisopher Columbus’ Part II: The Organization and Finance of Trade 5. C.J. Mathers (1988), ‘Family Partnerships and International Trade in Early Modern Europe: Merchants from Burgos in England and France, 1470-1570’ 6. N. Steensgaard (1981), ‘The Companies as a Specific Institution in the History of European Expansion’ 7. A.M. Carlos and S. Nicholas (1988), ‘“Giants of an Earlier Capitalism”: The Chartered Trading Companies as Modern Multinationals’ 8. R.R. Menard (1991), ‘Transport Costs and Long-Range Trade, 1300-1800: Was there a European “Transport Revolution” in the Early Modern Era?’ 9. K.N. Chaudhuri (1975), ‘The Economic and Monetary Problems of European Trade with Asia during the Seventeenth and Eighteenth Centuries’ 10. J. Sperling (1961-62), ‘The International Payments Mechanism in the Seventeenth and Eighteenth Centuries’ Part III: European Overseas Expansion and Trade A. Fifteenth Century: Venice 11. F.C. Lane (1933), ‘Venetian Shipping during the Commercial Revolution’ 12. R.T. Rapp (1975), ‘The Unmaking of the Mediterranean Trade Hegemony: International Trade Rivalry and The Commercial Revolution’ B. Sixteenth Century: Spain and Portugal 13 C.R. Phillips (1990), ‘The Growth and Composition of Trade in the Iberian Empires, 1450-1750’ 14. E.J. Hamilton (1938), ‘The Decline of Spain’ 15. P.J. Forsyth and S.J. Nicholas (1983), The Decline of Spanish Industry and the Price Revolution: A Neoclassical Analysis’ C. Seventeenth Century: England and the Netherlands 16. N. Steensgard (1990), ‘The Growth and Composition of the Long-Distance Trade of England and the Dutch Republic before 1750’ 17 N. Steensgard (1982), ‘The Dutch East India Company as an Institutional Innovation’ 18. G.M. Anderson, R.E. McCormick and R.D. Tollison (1983), ‘The Economic Organization of the English East India Company’ 19. D.A. Irwin (1991), ‘Mercantilism as Strategic Trade Policy: The Anglo-Dutch Rivalry for the East India Trade’ Name Index Volume II Acknowledgements Part I: Intra-European Trade and Trade Policies 1. F.J. Fisher (1939-40), ‘Commercial Trends and Policy in Sixteenth-Century England’ 2 R. Findlay (1987), ‘Intemediate Goods, Export Taxation and Resource-Based Industrialization’ 3. R. Davis (1954), ‘English Foreign Trade, 1660-1700’ 4. P. Benedict (1984), ‘Rouen’s Foreign Trade during the Era of the Religious Wars [1560-1600]’ 5. J.B. Collins (1984), ‘The Role of Atlantic France in the Baltic Trade: Dutch Traders and Polish Grain at Nantes, 1625-1675’ 6. M. Bogucka (1973), ‘Amsterdam and the Baltic in the First Half of the Seventeenth Century’ 7. M. Bogucka (1980), ‘The Role of Baltic Trade in European Development from the XVIth to the XVIIIth Centuries’ Part II: Commodity Markets in International Trade 8. C.H.H. Wake (1979), ‘The Changing Pattern of Europe’s Pepper and Spice Imports, ca 1400-1700’ 9. R.W. Unger (1980), ‘Dutch Herring, Technology, and International Trade in the Seventeenth Century’ 10. I. Blanchard (1986), ‘The Continental European Cattle Trades, 1400-1600’ 11. C. Wilson (1960-61), ‘Cloth Production and International Competition’ Part III: Mercantilism 12. J. Viner (1948), ‘Power versus Plenty as Objectives of Foreign Policy in the Seventeenth and Eighteenth Centuries’ 13. R. Conquest (1985), ‘The State and Commercial Expansion: England in the Years 1642-1688’ 14. A.W. Bob Coats (1992), ‘Mercantilism: Economic Ideas, History, Policy’ 15. D.C. Coleman (1980), ‘Mercantilism Revisited’ 16. R.B. Ekelund, Jr and R.D. Tollison (1984), ‘A Rent-Seeking Theory of French Mercantilism’ 17. D.A. Irwin (1992), ‘Strategic Trade Policy and Mercantilist Trade Rivalries’ Name Index

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Book SynopsisJohn Bristow's wide-ranging review, based on primary sources, traces economic developments since the fall of Zhivkov in late 1989. The progress of the macroeconomy, sectoral developments, international relations, reform of the banking and fiscal systems, and privatization are all extensively examined by Professor Bristow. While focusing on policy and the failure of the Bulgarian political system to provide sufficient momentum for effective economic reform, this important book acknowledges the successes and recognizes the problems of framing policy in times of severe economic dysfunction.Accessible and up-to-date, The Bulgarian Economy in Transition will be welcomed by scholars, researchers and policy makers concerned with the problems of transition from planned to market economies.Trade Review'The author provides a good and detailed report on the challenges, weaknesses and dilemmas of the Bulgarian transition, focusing on the period through late 1994. This book is recommended to scholars of economics, politics and government, and regional studies. . .'Table of ContentsContents: Preface 1. The Communist Era 2. Liberalization and Stabilization Policy: the Early Stages 3. Recent Macroeconomic Developments 4. Aspects of Industry and Agriculture 5. International Economic Relations 6. Reform of Financial Institutions 7. Fiscal Reform 8. Privatization 9. Some Reflections Bibliography Index

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Book SynopsisCovering Robert Clower’s writings over four decades, this collection brings together important papers that have not been reprinted in any other similar volume and recent material on economic method and theoretical foundations. Issues discussed include the doctrine and methodology of economics, price determination, oligopoly theory and Keynesian economics, as well as some of Professor Clower’s substantial reviews of the work of other scholars. Above all, they offer an instructive ‘history’ of one scholar’s attempt to enhance scientific understanding of observed economic phenomena during the last half century. The volume concludes with a complete listing of Professor Clower’s publications.Table of ContentsContents: Introduction Part I: Doctrine and Method Part II: Microeconomics Part III: Macroeconomics Part IV: Miscellaneous Notes and Reviews Part V: Appendix Index

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Book SynopsisThis two volume set reprints 37 important contributions dealing with international trade throughout the world during the rise of Great Britain to world dominance, the industrialization of Western Europe, and the political and economic expansion of European powers into Asia, Africa and the Americas.The period from 1700 to 1850 saw many dramatic changes in the world economy. Frequent war among the European nations also affected these changes, influencing the timing and perhaps the ultimate magnitude of intercontinental trade.In addition to discussions of commodity trade in different parts of the world, essays in these volumes deal with the effects of governmental policies towards the flows of capital and labour and the emergence of trading institutions and their impacts on economic development. Many deal with controversial topics such as the role of slavery and the slave trade on European development, the burdens of mercantilism, and the impact of European expansion on the economies of the less developed parts of the world.Table of ContentsVolume I Acknowledgements Introduction Part I: The Broad Overview 1. C.P. Kindleberger (1975), ‘Commercial Expansion and Industrial Revolution’ 2. P. Bairoch (1973), ‘European Foreign Trade in the XIX Century: The Development of the Value and Volume of Exports [Preliminary Results]’ 3. R.A. Austen and W.D. Smith (1990), ‘Private Tooth Decay as Public Economic Virtue: The Slave-Sugar Triangle, Consumerism, and European Industrialization’ Part II: Great Britain 4. R. Davis (1962) ‘English Foreign Trade, 1700-1774’ 5. J.M. Price (1961, ‘Multilateralism and/or Bilateralism: The Settlement of British Trade Balances with “The North”, c. 1700’ 6. F. Crouzet (1980), ‘Toward an Export Economy: British Exports during the Industrial Revolution’ 7. R. Davis (1979), ‘The Industrial Revolution British overseas trade’ 8. A.H. Imlah (1950), ‘The Terms of Trade of the United Kingdom, 1798-1913’ 9. R. Pares (1956), ‘The London Sugar Market, 1740-1769’ 10. T.M. Devine (1976), ‘The Colonial Trades and Industrial Investment in Scotland, c. 1700-1815’ Part III: France 11. P. Villiers (1991), ‘The Slave and Colonial Trade in France just before the Revolution’ 12. P. Butel (1986), ‘Traditions and Changes in French Atlantic Trade Between 1780 and 1830’ Part IV: The United States 13. J.F. Shepherd and G.M Walton (1976), ‘Economic Change after the American Revolution: Pre- and Post-War Comparisons of Maritime Shipping and Trade’ 14. C.D. Goldin and F.D. Lewis (1980), ‘The Role of Exports in American Economic Growth during the Napoleonic Wars, 1793 to1807’ 15. D.C. North (1961), ‘International Economic Flows – 1815-1860’ 16. P. Temin (1967), ‘The Causes of Cotton-Price Fluctuations in the 1830’s’ Name Index Volume II Acknowledgements Part I: Africa, The Tropics, Asia and Australia 1. P. O’Brien (1982), ‘European Economic Development: The Contribution of the Periphery’ 2. D. Eltis and L.C. Jennings (1988), ‘Trade between Western Africa and the Atlantic World in the Pre-Colonial Era’ 3. R.B. Sheridan (1969), ‘The Plantation Revolution and the Industrial Revolution, 1625-1775’ 4. N.H. Leff (1973), ‘Tropical Trade and Development in the Nineteenth Century: The Brazilian Experience’ 5. F.J.A. Broeze (1975), ‘The Cost of Distance: Shipping and the Early Australian Economy, 1788-1850’ 6. K.N. Chaudhuri (1966), ‘India’s Foreign Trade and the Cessation of the East India Company’s Trading Activities, 1828-40’ Part II: Policy Issues 7. L.A. Harper (1942), ‘Mercantilism and the American Revolution 8. L. Sawers (1992), ‘The Navigation Acts Revisited’ 9. H.-C. Mui and L.H. Mui (1968-9), ‘Smuggling and the British Tea Trade Before 1784’ 10. F. Crouzet (1964), ‘Wars, Blockade, and Economic Change in Europe, 1792-1815’ 11. M. Bils (1984), ‘Tariff Protection and Production in the Early U.S. Cotton Textile Industry’ 12. P.J. Cain and A.G. Hopkins (1986), ‘Gentlemanly Capitalism and British Expansion Overseas I. The Old Colonial System, 1688-1850’ Part III: Factor Movements 13. H.A. Gemery and J.S. Hogendorn (1974), ‘The Atlantic Slave Trade: A Tentative Economic Model’ 14. B.L. Solow (1985), ‘Caribbean Slavery and British Growth: The Eric Williams Hypothesis’ 15. R. Menard (1977), ‘From Servants to Slaves: The Transformation of the Chesapeake Labor System’ 16. D.W. Galenson (1984), ‘The Rise and Fall of Indentured Servitude in the Americas: An Economic Analysis’ 17. L. Neal (1991), ‘A Tale of Two Revolutions: International Capital Flows 1789-1819’ Part IV: Trade Institutions 18. D.C. North (1968), ‘Sources of Productivity Change in Ocean Shipping, 1600-1850’ 19. C.K. Harley (1988), ‘Ocean Freight Rates and Productivity, 1740-1913: The Primacy of Mechanical Invention Reaffirmed’ 20. J.M. Price (1989), ‘What did Merchants Do? Reflections on British Overseas Trade, 1660-1790’ 21. J.M. Price and P.G.E. Clemens (1987), ‘A Revolution of Scale in Overseas Trade: British Firms in the Chesapeake Trade, 1675-1775’ Name Index

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Book SynopsisJean Gabszewicz's new book is devoted to the study of strategic multilateral exchange. Contrary to the classical competitive paradigm in which agents are assumed to behave as price takers, here traders are allowed to consciously behave as strategic agents who aim to influence trade to their own advantage. This is usually done in oligopoly theory using a partial equilibrium approach while in this case a system of interrelated markets is considered. Primarily, the book discusses the game-theoretic concept of core and the relationship between core and the set of price allocations in economies embodying significant traders is explored. The author goes on to adopt a non-cooperative approach building on the concept of Nash equilibrium.Strategic Multilateral Exchange will be welcomed by academics, advanced research scholars and doctoral students with an interest in economic theory, microeconomic theory and general equilibrium. It will also appeal to mathematical economists with an orientation in mathematical economics and game theory.Trade Review'This elegant and enjoyable book describes the theory of imperfect competition in an explicitly general-equilibrium framework. . . The main strength of the book is that it provides a coherent and precise narrative of developments in two theoretical areas to which the author has made important contributions. . . The writing has an elegiac quality. The author contrasts the "Golden Sixties", when "general equilibrium theory was superbly flourishing" with the present, "much darker period for this field of microeconomic theory". The elegant and deep results described here will give the reader a sense of the mood of the period as well as the intellectual accomplishments.'Table of ContentsContents: Introduction Part I: Strategic Multilateral Exchange and the Core 1. Allocations in Pure Exchange Economies 2. The Asymptotic Approach 3. Markets with an Atomless Sector Part II: Strategic Multilateral Exchange and Oligopoly Equilibrium 4. The Notion of Oligopoly Equilibrium 5. The Existence Problem 6. Economic Applications 7. Oligopoly Equilibrium with a Productive Sector 8. Conclusion Bibliography Index

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Book SynopsisBureaucracy and Public Economics brings together in one volume the classic book and related articles which put forward the first formal economic theory of the behaviour of bureaucracies. William Niskanen Jr. has consistently argued that bureaucrats have personal objectives - that differ from those of both their political supervisors and the general public - which they further by use of their monopoly power. He develops his argument to contend that government budgets have become too large and should be curtailed. All of Professor Niskanen's major contributions to this field have been brought together in this one volume including his pioneering article on 'The Peculiar Economics of Bureaucracy', the full text of the book 'Bureaucracy and Representative Government' and his recent reassessment of the larger body of scholarship on the economics of bureaucracy.Scholars, students and teachers of public economics will welcome this volume which, by making some of the key contributions in the field more widely accessible, will provoke discussion, debate and further research. Trade ReviewReviews of the first edition: -- 'This book is a lively, well organized, clearly written development of a model of bureaucratic production.'– Earl A. Thompson, Journal of Economic Literature'This useful and thought-provoking volume brings together all of the author's major contributions to this field.' -- Aslib Book Guide'This reprint of Niskanen's work is very valuable. We may hope that this time round, readers will concentrate less on Niskanen's catchphrase and more on the analysis which he offers. Perhaps they will then realize that the question of bureaucratic over-supply is both more complex than is often recognized and also less assured.' -- Keith Dowding, The Manchester School'Edward Elgar are to be commended for making Niskanen's important and highly topical contributions more readily available to a new generation of scholars and enabling some less well-stocked libraries to fill an important gap in their collections.' -- Stuart Sayer, The Economic Journal'He [the author] is a highly esteemed professional economist. Clearly, he brings to this subject unquestionable competence and deep conviction about the importance of the subject . . . the concluding sections deserve respectful attention by anyone seriously interested in promoting improvement in what has become a major element in the way we live - government.' -- C. Lowell Harriss, Presidential Studies Quarterly'This particular book offers a very useful collation of Niskanen's leading contribution over more than two decades to the development of a formal economic theory of how and why the rational self interest of bureaucrats, often grounded in the interests of the bureau itself, subvert their masters' intentions and the process of representative government more generally.' -- Steve Molloy, Reviewing Sociology

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Book SynopsisDynamics and Income Distribution brings together Irma Adelman’s pioneering applications of econometrics, as well as papers on the poverty and income distribution implications of growth and development. The volume combines some early papers on business cycles and long swings with other pieces focusing on just economic development.With a firm emphasis on the dynamics of income inequality, this volume includes empirical study of how inequality changes with economic development and the conceptual development of dynamic indices of income inequality. Professor Adelman’s papers draw on quantitative simulation models and the experience of specific countries to discuss policies to alleviate poverty and reduce inequality. The author argues that trickle-down processes are not likely to reduce poverty sufficiently rapidly. Land reform and the equal access to education need to be focused in order to generate the initial conditions for equalizing economic development. Economic development and poverty reduction, she suggests, require an emphasis on education, on institutions determining access to jobs and resources, and on labour-intensive types of economic growth. With its companion volume, Institutions and Development Strategies, this collection of selected essays makes a significant contribution by improving access to Irma Adelman’s pioneering work on the economics and policy of development.Trade Review’The book should be compulsory reading for any researchers in economics and development studies. The rigour, depth, and profound historical knowledge of the author, along with her sympathetic humanistic approach, reminds us that economics is not just a sterile mathematical game but a study of the problems of human welfare.’- Dipak Basu, The Economic JournalTable of ContentsDynamics; poverty and income distribution.

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Book SynopsisIn Macroeconomic Problems of Transformation a distinguished group of economists examines the cause of the dramatic output collapse in the transforming economies of Eastern Europe and formulates policies to promote economic recovery.Drawing on scholarship from East and West, this book features discussion of such important aspects of the transformation process as the role of monetary policy, fiscal crises, exchange rate policies and privatization. In particular, several authors stress the importance of dealing with the distortions still existing in financial sectors and argue that export-led growth may be a potential driving force of accumulation in the economies currently in transition. The causes and consequences of the current fiscal crises are analysed, as are the processes of wage formation and privatization, in each case combining theoretical insight with empirical findings from the transforming economies. Later papers make comparisons with the reconstruction after the Second World War, discuss the effects of different exchange rate policies and consider the role of Western economies in promoting growth in Central and Eastern Europe.Trade Review’An excellent reference book on current thinking.'Table of ContentsOutput collapse and economic recovery in Central and Eastern Europe, Hansjorg Herr et al; endogenous budget deficits during transition - the mechanism and policy response, Dariusz K. Rosati; macroeconomic transformation in Eastern Europe - the role of monetary policy reconsidered, Peter Bofinger; economic transformation in the Visegrad countries - a comparison, Laszlo Csaba; the Visegrad economies in transition - the comparative perspective of the macroeconomic stabilization pentagon - a comment on Csaba, Grzegorz W. Kolodka; exchanges versus production as the basis for the design of monetary, fiscal and exchange rate policies for the transformation process, Jan A. Kregel; a comment on Kregel, Hajo Riese; stability and credibility in the transition process of the previously centrally planned economies - a comparison with the postwar Italian experience, Biagio Bossone and Francesco Papadia; wage determination and incomes policy during economic transitions in Eastern Europe, Robert J. Flanagan; privatization in comparative perspective - an overview of key issues, Paul G. Hare; on the limits of dual sector models of post-socialist economies - a comment on Hare, David Stark; determinants of privatization strategies - the Hungarian and German experiences, Thomas Schmid-Schonbein; the exchange rate and transition - the case of former Czechoslovakia, Miroslav Hrncir; the Central and Eastern European countries and the EC, Richard Portes; the European monetary system and development strategies for countries in Central and Eastern Europe, Jurgen Kroger and Manfred Teutemann; from stabilization to growth - reconsidering trade and foreign investment, Stefan Collignon.

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Book SynopsisThis important new book brings together a significant body of new essays on some of the central economic problems facing governments, firms and individuals in the 1990s. Under the direction of Paul Davidson and Jan Kregel, an international group of distinguished economists provide new perspectives on key issues including employment, corporate and work place restructuring, economic growth and development, financial integration and transformation of the former command economies. Combining rigorous scholarly assessments of the issues with policy prescription, the contributors seek to provide solutions to the problem of providing full employment, to identify the factors determining the expansion of the economy, and to analyse the impact of financial markets, financial derivatives and international regulations on domestic and global economic performance.Employment, Growth and Finance will be welcomed by all those interested in the solutions to international economic problems being developed by post Keynesian economists.Trade Review’. . . the book will be of interest to anyone who would like a sample of post Keynesian view on some important economic issues.’ -- S. Drakopoulos, Economic JournalTable of ContentsPart 1 Employment: The intellectual and institutional requirements for full employment, Malcolm Sawyer; the psychological costs of unemployment and unemployment hysteresis - theory and evidence, Arthur B. Goldsmith, Jonathan R. Veum, William Darity Jr.; aggregate and household behaviour - poverty and savings, David Bunting; the guaranteed minimum income as a proposal to remove poverty in Brazil, Eduardo Matarazzo, Suplicy and Samir Cury; the influence of changes in income distribution on aggregate demand in a Kaleckian model - stagflation vs exhilaration reconsidered, Tracy Mott, Edward Slattery; ownership and management, Nina Shapiro. Part 2 Growth: What's so "new" about the "new" theories of technical change? - Adam Smith, Robert Lucas Jr and economic growth, William Darity Jr; recent developments in growth theory - a post-Keynesian response, Mark Setterfield; structural change and productivity in OECD, John Cornwall, Wendy Cornwall; Part 3 Finance: Full employment and economic growth as an objective of economic policy - some thoughts on the limits of capitalism, Hyman Minsky; global protfolio allocation, hedging, and September 1992 in the European monetary system, Jan A. Kregel; the role of the Basle committee on banking supervision in the regulation of international banking, Andrew Cornford; is there an economic (neo-classical) explanation for the magic of the technical analysis of stock markets, Andrea Terzi; can capitalism be built through shortcuts? lessons from Poland's economic reform, Edward K. Zajicek.

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Book SynopsisThis book examines the extent to which spatial economic convergence has taken place in the European Union and analyses the effectiveness of regional policy. The authors examine the differing economic features of the European regions and provide an institutional background to regional policy at both the national and Union level. Theories of economic growth are discussed and assessed in terms of the relative performance of regional economies in Europe. The authors then analyse the extent to which economic convergence, for example in terms of income and employment, has materialized across regions using a variety of techniques including mean reversion and time varying parameter procedures. The analysis is both at the level of the entire EU area and at more disaggregate levels that look at specific regions of the Union and at specific sectors. The book offers an assessment of some of the key regional policy instruments used and pays particular attention to the role of infrastructure investment as a tool for enhancing regional growth. It also considers the extent to which some non-regional specific policies impact upon the development of regional economies and explores the implications of closer monetary ties between member states.This book will be of interest to academics and policymakers concerned with regional science, European studies and macroeconomics.Table of ContentsContents: Preface 1. Introduction 2. The Regions of the European Union 3. The Development of the European Union’s Regional Policy 4. Theories of Economic Development 5. Regional Economic Performance in the European Union 6. Economic Performance and Convergence across UK Regions 7. Labour Market Convergence in the UK and Germany 8. Infrastructure and Regional Economic Development 9. Conclusions References Index

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Book SynopsisFollowing German reunification in 1990, East Germany's centrally planned economy was abolished and replaced by West Germany's social market economy. Western Germany has since provided vast financial support to aid the transformation, and enable eastern Germany to catch-up with western Germany's productivity and living standards. This book evaluates the main events and their outcomes since mid-1990 and the associated policy issues. The authors assess the medium to long term growth prospects of eastern Germany and the wider implications for western Germany and Europe.The Economics of German Unification analyses the economic process of assimilating eastern Germany into the institutions and performance levels of western Germany. It includes original research as well as providing an overview of existing literature. Among the topics discussed are: the relative backwardness of East Germany's economy the impact of monetary and economic integration restructuring and privatization <>li>labour market and industrial policy, including an analysis of wage restraint and cost reduction the prospects for eastern Germany catching-up economically with western Germany the repercussions for German competitiveness nationally and within the wider European context This book will be welcomed by academics, researchers and undergraduates interested in the economics of transition, comparative economic systems, political economy and the European business environment.Trade Review'A model of clarity and organization, this relatively short book is marvellously handy for any researcher, student or practitioner engaged in international trade or policy making because issues are laid out clearly and answers presented persuasively with a sufficiently full explanation of sources and argument. A concise summary of the individual chapters' contents and main arguments at the start, and a twelve-point conclusion (with a few subpoints) at the end, plus a well laid-out index, make it easy and convenient to find information quickly.'Table of ContentsContents: 1. GEMSU – Switching from Socialism to Capitalism 2. The DDR Economy Revisited 3. The 1948 Currency and Economic Reforms in Comparison with the 1990 Economic and Monetary Union 4. Restructuring and Privatization 5. The Labour Market in Post-Unification Eastern Germany 6. Catching up with the West: The Achievements and Limitations of Creative Destruction 7. Convergence and Catch-Up: Results and Prospects 8. International and Domestic Repercussions of German Unification 9. Conclusion Index

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Book SynopsisDuring the latter part of the nineteenth century and the beginning of this century both international trade and national economies grew exponentially, with international trade growing considerably faster than national income. Contributors to these two volumes question whether trade’s more rapid growth was an engine pulling successful economies, or whether government policies of trade protection had a greater impact upon national economic growth.The essays in this collection analyse four major driving forces of the period’s sustained economic growth: changes in tariff policies; the technological ‘revolution’ in transportation costs; the population and income growth effects upon demand; and the alterations to comparative advantage brought about by technological changes and resource discoveries.Table of ContentsVolume I Acknowledgements • Introduction Part I: Overview of the Integration of the Nineteenth- Century World Economy A. Quantitative Estimates 1. P. Bairoch (1974), ‘Geographical Structure and Trade Balance of European Foreign Trade from 1800 to 1970’ 2. A. Green and M.C. Urquhart (1976), ‘Factor and Commodity Flows in the International Economy of 1870–1914: A Multi-Country View’ 3. S. Kuznets (1967), Quantitative Aspects of the Economic Growth of Nations: X. Level and Structure of Foreign Trade: Long-Term Trends’ B. General Overviews 4. C.K. Harley (1986), ‘Late Nineteenth Century Transportation, Trade and Settlement’ 5. S.B. Saul (1965), ‘The Export Economy 1870–1914’ C. Studies of Particular Commodities 6. C.K. Harley (1980), ‘Transportation, the World Wheat Trade, and the Kuznets Cycle, 1850–1913’ 7. M. Olson (1974), ‘The United Kingdom and the World Market in Wheat and other Primary Products, 1885-1914’ 8. A.J.H. Latham (1985), ‘The International Trade in Rice and Wheat since 1868: A Study in Market Integration’ 9. A.J.H. Latham and L. Neal (1983), ‘The International Market in Rice and Wheat, 1868–1914’ Part II: Trade and Growth A. General Studies 10. A.K. Cairncross (1961), ‘International Trade and Economic Development’ 11. I.B. Kravis (1970), ‘Trade as a Handmaiden of Growth: Similarities between the Nineteenth and Twentieth Centuries’ 12. N.F.R. Crafts (1973), ‘Trade as a Handmaiden of Growth: An Alternative View’ and I.B. Kravis (1973), ‘A Reply to Mr. Crafts’ ‘Note’ 13. C.P. Kindleberger (1961), ‘Foreign Trade and Economic Growth: Lessons from Britain and France, 1850 to 1913’ B. The Staple Thesis 14. M.H. Watkins (1963), ‘A Staple Theory of Economic Growth’ 15. E.J. Chambers and D.F. Gordon (1966), ‘Primary Products and Economic Growth: An Empirical Measurement’ 16. R.E. Caves (1971), ‘Export-Led Growth and the New Economic History’ Name Index Volume II Acknowledgements Part I: The Interplay of Trade, Protectionism, Liberalization and Growth A. Repeal of the British Corn Laws and the Emergence of Free Trade 1. S. Fairlie (1965), ‘The Nineteenth-Century Corn Law Reconsidered’ 2. C.P. Kindleberger (1975), ‘The Rise of Free Trade in Western Europe, 1820–1875’ 3. J.V. Nye (1991), ‘The Myth of Free-Trade Britain and Fortress France: Tariffs and Trade in the Nineteenth Century’ 4. D.A. Irwin (1993), ‘Free Trade and Protection in Nineteenth-Century Britain and France Revisited: A Comment on Nye’ 5. D.N. McCloskey (1980), ‘Magnanimous Albion: Free Trade and British National Income, 1841–1881’ 6. D.A. Irwin (1988), ‘Welfare Effects of British Free Trade: Debate and Evidence from the 1840s’ 7. J.G. Williamson (1990), ‘The Impact of the Corn Laws Just Prior to Repeal’ B. Trade, Growth and Retardation in Britain 8. N.F.R. Crafts (1989), ‘British Industrialization in an International Context’ 9. A.G. Ford (1963), ‘Notes on the Role of Exports in British Economic Fluctuations, 1870–1914’ 10. W.P. Kennedy (1974), ‘Foreign Investment, Trade and Growth in the United Kingdom, 1870–1913’ 11. D.N. McCloskey (1970-71), ‘Britain’s Loss from Foreign Industrialization: A Provisional Estimate’ 12. N.F.R. Crafts and M. Thomas (1986), ‘Comparative Advantage in UK Manufacturing Trade, 1910–1935’ C. Tariffs and Growth in Continental Europe 13. P. Bairoch (1972), ‘Free Trade and European Economic Development in the 19th Century’ 14. F. Capie (1983), ‘Tariff Protection and Economic Performance in the Nineteenth Century’ 15. C.P. Kindleberger (1951), ‘Group Behavior and International Trade’ 16. F.J. Coppa (1970), ‘The Italian Tariff and the Conflict between Agriculture and Industry: The Commercial Policy of Liberal Italy, 1860–1922’ 17. G. Toniolo (1977), ‘Effective Protection and Industrial Growth: The Case of Italian Engineering, 1898–1913’ 18. S.B. Webb (1980), ‘Tariffs, Cartels, Technology and Growth in the German Steel Industry, 1879 to 1914’ D. Tariffs and Growth in the United States 19. I.B. Kravis (1972), ‘The Role of Exports in Nineteenth-Century United States Growth’ 20. J.G. Williamson (1980), ‘Greasing the Wheels of Sputtering Export Engines: Midwestern Grains and American Growth’ 21. G. Wright (1990), ‘The Origins of American Industrial Success, 1879–1940’ 22. C.K. Harley (1992), ‘The Antebellum American Tariff: Food Exports and Manufacturing’ 23. J.A. James (1981), ‘The Optimal Tariff in the Antebellum United States’ 24. J.J. Pincus (1975), ‘Pressure Groups and the Pattern of Tariffs’ 25. G.R. Hawke (1975), ‘The United States Tariff and Industrial Protection in the Late Nineteenth Century’ E. Trade and the Periphery 26. J. Gallagher and R. Robinson (1953), ‘The Imperialism of Free Trade’ 27. J.R. Hanson, II (1977), ‘Diversification and Concentration of LDC Exports: Victorian Trends’ 28. J.R. Hanson, II (1986), ‘Export Shares in the European Periphery and the Third World before World War I: Questionable Data, Facile Analogies’ 29. I.T. Berend and G. Ranki (1980), ‘Foreign Trade and the Industrialization of the European Periphery in the XIXth Century’ 30. P.J. Cain and A.G. Hopkins (1980), ‘The Political Economy of British Expansion Overseas, 1750–1914’ 31. P.K. O’Brien (1988), ‘The Costs and Benefits of British Imperialism, 1846–1914’ 32. K. Sugihara (1986), ‘Patterns of Asia’s Integration into the World Economy, 1880–1913’ Name Index

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Book SynopsisRegional Policy and Regional Integration reprints the most important papers on those government policies that have an intentional and formal geographic focus. These policies have typically been motivated by equity considerations such as reducing unemployment, increasing incomes, promoting structural adjustments or realizing development potentials. While the main objective of regional policy is to improve conditions in deprived areas, public resources must be used in such a way that these objectives are achieved efficiently.The topics covered in this important volume include regional integration and urban systems; income, amenities and welfare; infrastructure; manufacturing; services; innovative milieux; delineating planning regions and policy instruments.Table of ContentsPart I Regional integration and urban systems. Part II Income, amenities and welfare. Part III Infrastructure. Part IV Manufacturing. Part V Services. Part VI Innovative milieux. Part VII Delineating planning regions. Part VIII Policy instruments.

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Book SynopsisEconomic Policy presents an authoritative selection of articles which have played a key role in influencing the direction of economic theory and methodology and thus the policy presecriptions which macroeconomists give to decision-makers. Volume I contains the most influential articles which have shaped the main debates in macroeconomic theory since its foundation. It covers such topics as the debate between Keynes and the Keynesians, the dispute between Keynes and the monetarists, the rational expectation revolution and critiques of that approach, and the debate between New Classical theorists and 'new' Keynesian theorists. Also included are papers which have defined alternative methodological approaches to modelling the macroeconomy.Volume II investigates some important applications of economic policy analysis. It examines some of the key economic problems on the political agenda such as the record of monetarism, the problems of trade and structural unemployment, European monetary integration and the reform of post-Communist societies and assesses the extent to which economic research throws light on these problems.Table of Contents5.11.96 THE INTERNATIONAL LIBRARY OF COMPARATIVE PUBLIC POLICY Economic Policy – Paul Whiteley Volume I: Theoretical Debates Introduction Part I: Keynesianism and Monetarism 1. J.M. Keynes (1937), ‘The General Theory of Employment’ 2. J.R. Hicks (1937), ‘Mr Keynes and the “Classics”: A Suggested Interpretation’ 3. A.W. Phillips (1958), ‘The Relation Between Unemployment and the Rate of Change in Money Wage Rates in the United Kingdom 1861-1957’ 4. M. Friedman (1968), ‘The Role of Monetary Policy’ 5. F. Modigliani (1977), ‘The Monetarist Controversy or, Should We Forsake Stabilization Policies?’ 6. C.D. Romer and D.H. Romer (1989), ‘Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz’ 7. R.J. Gordon (1990), ‘What is New-Keynesian Economics?’ 8. L. Ball, N. G. Mankiw and D. Romer (1988), ‘The New Keynesian Economics and the Output-Inflation Trade-off’ [82] Part II: Rational Expectations and New Classical Theory 9. R.E. Lucas, Jr. (1976), ‘Economic Policy Evaluation: A Critique’[28] 10. T.J. Sargent and N. Wallace (1976), ‘Rational Expectations and the Theory of Economic Policy’ 11. F. E. Kydland and E.C. Prescott (1977), ‘Rules Rather than Discretion: The Inconsistency of Optimal Plans’ [19] 12. R.J. Shiller (1981), ‘Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends’ [15] 13. W.H. Buiter (1980), ‘The Macroecnomics of Dr Pangloss: A Critical Survey of the New Classical Macroeconomics’ 14. M.C. Lovell (1986), ‘Tests of the Rational Expectations Hypothesis’ Part III: Methodological Debates 15. R. Frisch (1936), ‘Note on the Term "Econometrics’ 16. M. Nerlove (1966), ‘A Tabular Survey of Macro-Econometric Models’ 17. C.A. Sims (1980), ‘Macroeconomics and Reality’ 18. D.F. Hendry (1980), ‘Econometrics – Alchemy or Science?’ 19. D.F. Hendry and J.-F. Richard (1982), ‘On the Formulation of Empirical Models in Dynamic Econometrics’ 20. E.E. Leamer (1983), ‘Let‘s Take the Con Out of Econometrics’ 21. R. Eisner (1989), ‘Divergences of Measurement and Theory and Some Implications for Economic Policy’ 22. D.F. Hendry and N.R. Ericsson (1991), ‘An Econometric Analysis of U.K. Money Dmand in Monetary Trends in the United States and the United Kingdom by Milton Friedman and Anna J. Schwartz’ Volume I: 586 pp Volume II: Applications Part I: Thatcherism and the Economy 1. C. Bean and J. Symons (1989), ‘Ten Years of Mrs T.’ Part II: The Political Business Cycle 2. A. Alesina (1989), ‘Politics and Business Cycles in Industrial Democracies’ Part III: European Monetary Union 3. B. Eichengreen (1993), ‘European Monetary Unification’ Part IV: Trade and Employment 4. J.D. Sachs and H.J. Shatz (1994), ‘Trade and Jobs in U.S. Manufacturing’ Part V: European Unemployment 5. C.R. Bean (1994), ‘European Unemployment: A Survey’ Part VI: Extreme Inflation 6. R. Dornbusch, F. Sturzenegger and H. Wolf (1990), ‘Extreme Inflation: Dynamics and Stabilization’ Part VII: The Economic Reform of Communism 7. S. Fischer (1992), ‘Stabilization and Economic Reform in Russia’ Volume II: 389 pp

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Book SynopsisEconomic Theory and Reality presents Tibor Scitovsky's latest thinking on the relationship between economic theory and economic reality. This volume features discussion of many of the important theoretical contributions made to economics over the last 40 years including the Keynesian revolution and the ideas of Lerner, Steindl, Hirsch, Frank and many others who extended and enhanced the economist's toolbox.Professor Scitovsky's attempt to make economic theory more realistic and thereby more useful is the subject of the first part of the volume which includes his work on the necessity of asymmetric markets, some market power and righteous behaviour as conditions of a progressive and properly functioning market economy. The second major theme is the shortcomings of the real-world economy and, in particular, its failure to maintain macroequilibrium, price stability and full employment. This part includes examinations of inflexible wages and prices, excessive claims, positional goods, and the impact of second-hand markets on the macroeconomy. Economic Theory and Reality improves access to Professor Scitovsky's most important recent work, much of which was originally published either in foreign languages or outside the mainstream literature. As well as improving our understanding of his approach to economics and the contributions which he has made to scholarship, this book addresses key questions about the relevance of economic theory and its future direction.Trade Review'It is a book that is well worth having on the shelf. Economic theorists (macro and mirco), applied economists and welfare economists, and even economic consultants, have all much to gain from reading this book and returning to it at regular intervals. It will remind them all of some fundamental truths and confusions that the economics profession has to deal with.' -- John Stark, The Business Economist'His ability to remain original, thought-provoking and succinct, and to maintain his curiosity for so long, must be the envy of us all.’ -- Maurice Scott, The Economic JournalTable of ContentsThe benefits of asymmetric markets - 1990; the debate on socialist economic planning in today's perspective - 1993; Lerner's contribution to economics - 1984; the demand-side economics of inflation - 1986; moral sentiments and welfare of nations - 1991; how our economy stands up to scrutiny - 1990; growth in the affluent society - 1987; towards a theory of second-hand markets - 1994; the political economy of Josef Steindl - 1993; economic development in Taiwan and South Korea - 1965-81 - 1985; why the US saving rate is low - a conflict between the national accountant's and the individual saver's perceptions - 1986; the meaning, nature and sources of value in economics - 1993; what ails the United States of America - 1994; hindsight economics - 1991.

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Book SynopsisHow can economic policies be designed - and redesigned - to increase growth and reduce unemployment in developing, developed and transitional economies? In The State and the Economic Process, a distinguished group of economists provides - through a comparison of postwar economic performance and policies - sound analytical support and historical evidence in favour of vigorous market guiding policies. These include targeting strategic industries, carefully managing both market collusion and competition, promoting environmentally sound technical change, and managing foreign trade and investment. The papers featured in this volume address such issues as widespread unemployment in the OECD, the deep and protracted contraction in the transitional economies, and the large variety in growth performance in developing countries. The authors go beyond the usual advocacy of the market as the solution to most economic problems, while avoiding the stale controversy over 'market failure' versus 'government failure'.Trade Review'. . . generally well-written and stimulating.'Table of ContentsContents: Acknowledgements Preface Part I: The Developing Economies Part II: The OECD Economies Part III: Post-Communist Economies in Transition Part IV: A Sustainable World System

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Book SynopsisCost-Benefit Analysis presents an authoritative collection of the most important published articles in the field together with an extensive new introduction by the editors. Whilst focusing on the practical side, looking at applications such as education, transportation and the value of life and health, this important volume also emphasises the essential role of economic theory, with sections on the economic costs of public funds, foreign exchange and labour. The result is an influential selection based on robust and fundamental theoretical propositions -- ones that are readily suitable for everyday applications. This timely volume provides a comprehensive synthesis of the current state of the theory and application of cost-benefit analysis. It draws from a wide range of journals to include the key articles which are the benchmarks in the development of the field. It will be invaluable to academics and practitioners alike.Trade Review’Edward Elgar has recruited the two most significant names in the business of cost-benefit analysis to edit this compilation of essential papers on the subject. My teaching and research will both be easier with this volume on my shelf, as I’ll always have the right papers at my fingertips on the theory of social discounting in open and closed economies, the marginal cost of public funds, the cost of foreign exchange, and applications related to the environment, education, health, and transportation.’ -- Don Fullerton, University of Texas, Austin and National Bureau of Economic Research, USTable of ContentsContents: Acknowledgements Introduction Arnold C. Harberger and Glenn P. Jenkins PART I THEORETICAL ISSUES A Discount Rate for Investment Projects 1. Stephen A. Marglin (1963), ‘The Social Rate of Discount and the Optimal Rate of Investment’ 2. Larry A. Sjaastad and Daniel L. Wisecarver (1977), ‘The Social Cost of Public Finance’ 3. Agnar Sandmo and Jacques H. Drèze (1971), ‘Discount Rates for Public Investment in Closed and Open Economies’ B Economic Cost of Public Funds 4. Edgar K. Browning (1976), ‘The Marginal Cost of Public Funds’ 5. Charles L. Ballard, John B. Shoven and John Whalley (1985), ‘General Equilibrium Computations of the Marginal Welfare Costs of Taxes in the United States’ C Economic Cost of Foreign Exchange 6. Bela Balassa (1974), ‘Estimating the Shadow Price of Foreign Exchange in Project Appraisal’ 7. Charles Blitzer, Partha Dasgupta and Joseph Stiglitz (1981), ‘Project Appraisal and Foreign Exchange Constraints’ 8. George Fane (1991), ‘The Social Opportunity Cost of Foreign Exchange: A Partial Defence of Harberger et al’ 9. Glenn P. Jenkins and Chun-Yan Kuo (1985), ‘On Measuring the Social Opportunity Cost of Foreign Exchange’ D Economic Cost of Labor 10. Raaj Kumar Sah and Joseph E. Stiglitz (1985), ‘The Social Cost of Labor and Project Evaluation: A General Approach’ 11. Alejandra Cox Edwards (1989), ‘Labor Supply Price, Market Wage, and the Social Opportunity Cost of Labor’ 12. Robin Boadway and Frank Flatters (1981), ‘The Efficiency Basis for Regional Employment Policy’ E Risk Analysis of Investment Projects 13. Kenneth J. Arrow and Robert C. Lind (1970), ‘Uncertainty and the Evaluation of Public Investment Decisions’ 14. Savvakis Savvides (1994), ‘Risk Analysis in Investment Appraisal’ 15. K.G. Balcombe and L.E.D. Smith (1999), ‘Refining the Use of Monte Carlo Techniques for Risk Analysis in Project Planning’ PART II APPLICATIONS A Contingent Valuation: Methodology and Applications 16. Department of Commerce, National Oceanic and Atmospheric Administration (1993), ‘Appendix I – Report of the NOAA Panel on Contingent Valuation’, excerpt from ‘Natural Resource Damage Assessments Under the Oil Pollution Act of 1990’ 17. W. Michael Hanemann (1994), ‘Valuing the Environment Through Contingent Valuation’ 18. Peter A. Diamond and Jerry A. Hausman (1994), ‘Contingent Valuation: Is Some Number Better than No Number?’ 19. Richard T. Carson and Robert Cameron Mitchell (1993), ‘The Value of Clean Water: The Public’s Willingness to Pay for Boatable, Fishable, and Swimmable Quality Water’ 20. Dale Whittington, Donald T. Lauria and Xinming Mu (1991), ‘A Study of Water Vending and Willingness to Pay for Water in Onitsha, Nigeria’ 21. Lisa C. Chase, David R. Lee, William D. Schulze and Deborah J. Anderson (1998), ‘Ecotourism Demand and Differential Pricing of National Park Access in Costa Rica’ B Education 22. George Psacharopoulos (1994), ‘Returns to Investment in Education: A Global Update’ 23. Pedro Belli, Qaiser Khan and George Psacharopoulos (1999), ‘Assessing a Higher Education Project: A Mauritius Feasibility Study’ 24. Nancy Birdsall (1996), ‘Public Spending on Higher Education in Developing Countries: Too Much or Too Little?’ C Value of Life and Health 25. W. Kip Viscusi (1993), ‘The Value of Risks to Life and Health’ 26. A.M. Garber, M.C. Weinstein, G.W. Torrance and M.S. Kamlet (1996), ‘Theoretical Foundations of Cost-effectiveness Analysis’ 27. Jeffrey S. Hammer (1993), ‘The Economics of Malaria Control’ 28. Ramesh Adhikari, Paul Gertler and Anneli Lagman (1999), ‘Economic Analysis of Health Sector Projects – A Review of Issues, Methods, and Approaches’ D Transportation 29. Arnold C. Harberger (1972), ‘Cost–Benefit Analysis of Transportation Projects’ 30. John Kay, Alan Manning and Stefan Szymanski (1989), ‘The Economic Benefits of the Channel Tunnel’ and ‘Discussion’ 31. John F. Kain (1997), ‘Cost-effective Alternatives to Atlanta’s Rail Rapid Transit System’ E Assessing Stakeholder Impacts 32. Glenn P. Jenkins (1999), ‘Evaluation of Stakeholder Impacts in Cost–benefit Analysis’ Name Index

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Book SynopsisThis new two volume set contains major recent theoretical and empirical contributions to the debate on long-term economic growth. Research on long-term growth was revitalized in recent years as it became clear that countries were not converging in income levels as was predicted by the neoclassical growth model. Also differences in growth rates across countries seemed systematic and predictable. These findings led to the development of models of 'endogenous growth' through which a country's long-run growth rate is determined by economic and policy variables.Professor Grossman - who is a recognized authority on the new growth theory - has chosen some of the most exciting and and innovative papers on convergence and the endogenous growth models that were constructed to explain the stylized facts. Empirical tests of the new models, are made accessible, as well as extensions of the theory to study the effects of international trade on growth, the implications of imperfect capital markets for growth and the relationship between the distribution of income and growth.Trade Review'These two excellent volumes have successfully captured major developments in growth theory and growth empirics since the mid 1980s. The choice of papers is scholarly and the papers are well organized to establish a meaningful connection between the sections. A lucid introduction by the editor is an added bonus. These two volumes are highly recommended as reference books for any graduate macroeconomics courses, and for those researching in this area.' -- Niloy Bose, The Economic JournalTable of Contents37 articles, dating from 1985 to 1994 Contents: Introduction Part I: Convergence Part II: Cross-Country Correlates of Growth Part III: “AK” Models of Long-Run Growth Part IV: Externality-Based Growth Part V: Innovation Based Growth Index • Volume II: Part I: Empirical Evidence Part II: Trade and Growth Part III: Growth and Income Distribution Part IV: Financial Markers and Growth Index

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Book SynopsisTrust is increasingly recognized as a crucial aspect of successful economic relationships, albeit a difficult one to define, and Mark Casson has been at the forefront of recent research in this area.In this sequel to his classic work The Entrepreneur, Professor Casson examines how the entrepreneurial firm succeeds by synthesizing information from different sources. The quality of this information is just as important as the quantity and the cheapest way to ensure quality is through a moral obligation to tell the truth. The author argues that a nation needs to invest in social institutions, such as schools, families and organized religion, in order to instil a sense of moral obligation and so sustain entrepreneurial success. Themes raised in this important volume include cultural perspectives on economic issues, entrepreneurship in a cultural context and the political economy of national culture.Entrepreneurship and Business Culture presents a state-of-the-art analysis of entrepreneurship and the social structures in which it is embedded. Together with its companion volume, The Organization of International Business, this topical and wide-ranging book offers a definitive analysis of the importance of trust in economic life as well as the related concepts of networking, consultation and empowerment.Trade Review’Business historians will benefit greatly from an exposure to Casson’s ideas.’ -- Paul L. Robertson, Business HistoryTable of ContentsContents: Preface Acknowledgement Part I: Cultural Issues in Economic Perspective Part II: Entrepreneurship in a Cultural Context Part III: The Political Economy of National Culture Index

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Book SynopsisThe Chinese Economy in Transition provides an analysis of the economic reforms introduced under Deng Xiaoping. It attempts to answer the question: what was the economic system that the Chinese were trying to reform and what approach have they adopted to reform it?Whilst the book focuses primarily on economic issues, it also explores the political and social environment and concentrates on three broad areas of the Chinese economy: agriculture, industry and macroeconomic management. Within these broad areas the focus is on two major themes: competition and cooperation, and central authority and regional autonomy. This book will be of special interest to senior undergraduate and postgraduate economics students, academics and China analysts.Trade Review'I am grateful for the fact that some of the insights I have always wanted to use in my teaching and research are finally available in this good work.'Table of ContentsContents: 1. Introduction 2. Financing Rapid Growth: Price Scissors in China 3. Organization of Agriculture 4. Industry 5. Regional Property Rights and the Impact of Fiscal Policy 6. Monetary Policy 7. Gradualism in China’s Economic Reform Index

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Book SynopsisThis important, original book focuses on the transformation of economic systems in Central Europe. It provides a comprehensive overview of different theoretical approaches to transformation - neoclassical, post Keynesian and Austrian. In the light of this theoretical discussion, it reconsiders the transformation policies applied in the Czech and Slovak Republics, Hungary and Poland.Dr Hoen challenges the dichotomous 'shock-versus-gradualism' dispute, which he believes blurs the key elements of the transformation from a centrally planned to a market economy. He also maintains that the labels generally attached to the transformation strategies in Central Europe are inappropriate and misleading. Hungary's transformation to a market economy, for example, is to be qualified as a 'hidden shock' rather than as an example of 'gradualism'.This up-to-date new book, which theoretically explains the diverging paths of transformation in Central Europe will be of interest to researchers, students, policymakers and all those concerned with European integration and international relations.Trade Review'The Hoen book is a first class study and deserves warm welcome . . . This book is a contribution to the study of the post-communist world in the well-received Edward Elgar Publishing series on comparative economic systems.'Table of ContentsContents: 1. On the Theory of Economic Transformation 2. Transformation and Integration: Mutually Dependent 3. Transformation in the Czech and Slovak Republics: Liberal Rhetoric versus Populist Disgrace 4. The Hungarian Approach to Transformation: Was it really Gradual? 5. The Creation of a Market Economy in Poland: From Shock to a Hands-off Approach 6. The External Economic Performance of Central Europe: Competitiveness on the EU Market 7. The Strategies Reconsidered: A Political Economy of Transformation References Index

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Book SynopsisThis five-volume collection (with individual volumes available separately) provides a comprehensive overview of the regulation approach to capitalism and its crisis-tendencies. Edited by a major British contributor to the approach, the collection includes not only key theoretical and empirical works from leading French regulationists but also representative work from other regulation schools and scholars. It also includes major critiques of the approach. Topics covered include regulationist approaches to the labour process, accumulation regimes (especially Fordism and post-Fordism), modes of social regulation, forms of state intervention, and the crisis tendencies of capitalism. Contributions cover different periods and different countries as well as different sectors and the changing global economy as a whole. The set includes both pioneer works and recent theoretical innovations and also explores the links between regulationism and other approaches, such as institutionalism, radical geography, critical discourse analysis, and feminism. This collection will be an essential reference work in institutional and evolutionary economics, in radical political economy, and in all social science disciplines concerned with capitalism and its crisis-tendencies.Trade Review‘Regulation Theory and the Crisis of Capitalism provides a comprehensive survey of the relevant literature on the topic. The collection is an essential reference wok in critical political economy. It is a more than useful starting point for those who wish to combine sociological analysis with a sound theoretical notion of contemporary capitalism.’Table of ContentsContents: Volume I: The Parisian Regulation School Acknowledgements Series Preface Bob Jessop Introduction Bob Jessop PART I BACKGROUND AND GENERAL PRESENTATION 1. Alain Lipietz (1987), ‘Rebel Sons: the Regulation School – An Interview with Alain Lipietz conducted by Jane Jenson’ 2. Robert Boyer (1990), ‘Introduction to the English-Language Edition’ 3. Alain Lipietz (1993), ‘From Althusserianism to "Regulation Theory"’ PART II SOME EARLY WORKS 4. Michel Aglietta (1978), ‘Phases of US Capital Expansion’ 5. Mike Davis (1978), ‘"Fordism" in Crisis: A Review of Michael Aglietta’s "Régulation et crises: L’expérience des États-unis"’ 6. Robert Boyer (1979), ‘Wage Formation in Historical Perspective: The French Experience’ 7. Robert Delorme (1984), ‘A New View on the Economic Theory of the State: A Case Study of France’ 8. Alain Lipietz (1982), ‘Towards Global Fordism?’ 9. Alain Lipietz (1988), ‘Accumulation, Crises, and Ways Out: Some Methodological Reflections on the Concept of "Regulation"’ 10. Alain Noël (1987), ‘Accumulation, Regulation, and Social Change: An Essay on French Political Economy’ PART III COMMENTARIES AND CRITIQUES 11. Michel De Vroey (1984), ‘A Regulation Approach Interpretation of Contemporary Crisis’ 12. Richard Barbrook (1990), ‘Mistranslations: Lipietz in London and Paris’ 13. Robert Brenner and Mark Glick (1991), ‘The Regulation Approach: Theory and History’ 14. Robert Albritton (1995), ‘Regulation Theory: A Critique’ 15. Adam Tickell and Jamie A. Peck (1992), ‘Accumulation, Regulation and the Geographies of Post-Fordism: Missing Links in Regulationist Research’ Name Index Volume II: European and American Perspectives on Regulation Acknowledgements Series Preface Bob Jessop Introduction Bob Jessop PART I THE GRENOBLE SCHOOL 1. Gerard Destanne de Bernis (1990), ‘On a Marxist Theory of Regulation’ 2. Gerard Destanne de Bernis (1988), ‘Propositions for an Analysis of the Crisis’ PART II SOCIAL STRUCTURES OF ACCUMULATION 3. David M. Gordon (1980), ‘Stages of Accumulation and Long Economic Cycles’ 4. Michael Reich (1997), ‘Social Structure of Accumulation Theory: Retrospect and Prospect’ PART III THE AMSTERDAM SCHOOL 5. Kees van der Pijl (1989), ‘Ruling Classes, Hegemony, and the State System: Theoretical and Historical Considerations’ 6. Henk Overbeek (1989), ‘British Capitalism at the Crossroads’ PART IV THE GERMAN REGULATION APPROACH 7. Joachim Hirsch (1990), ‘Regulation Theory and Historical-Materialistic Social Theory. Remarks on a Shaky Yet Necessary Relationship’ 8. Josef Esser and Joachim Hirsch (1989), ‘The Crisis of Fordism and the Dimensions of a "Postfordist" Regional and Urban Structure’ 9. Juergen Haeusler and Joachim Hirsch (1989), ‘Political Regulation: The Crisis of Fordism and the Transformation of the Party System in West Germany’ PART V NORDIC MODELS 10. Lars Mjøset (1987), ‘Nordic Economic Policies in the 1970s and 1980s’ 11. Lars Mjøset (1992), ‘The Nordic Model Never Existed, but Does it Have a Future?’ PART VI COMMENTARIES AND CRITIQUES 12. Bob Jessop (1990), ‘Regulation Theories in Retrospect and Prospect’ 13. David M. Kotz (1990), ‘A Comparative Analysis of the Theory of Regulation and the Social Structure of Accumulation Theory’ 14. Werner Bonefeld (1994), ‘Aglietta in England: Bob Jessop’s Contribution to the Regulation Approach’ 15. Colin Hay (1994), ‘Werner in Wunderland, or Notes on a Marxism Beyond Pessimism and False Optimism’ 16. Michael J. Webber and David L. Rigby (1996), ‘Competing Theories of Postwar Growth and Change’ Name Index Volume III: Regulationist Perspectives on Fordism and Post-Fordism Acknowledgements Series Preface Bob Jessop Introduction Bob Jessop PART I INTRODUCTION TO KEY ISSUES AND APPROACHES 1. Mark J. Elam (1990), ‘Puzzling Out the Postfordist Debate: Technology, Markets and Institutions’ 2. Bob Jessop (1992), ‘Fordism and Post-Fordism: A Critical Reformulation’ PART II THE ORIGINS OF THE FORDIST LABOUR PROCESS 3. Carl H.A. Dassbach (1991), ‘The Origins of Fordism: The Introduction of Mass Production and the Five-Dollar Wage’ 4. Bruce Pietrykowski (1995), ‘Fordism at Ford: Spatial Decentralization and Labor Segmentation at the Ford Motor Company, 1920–1950’ 5. Anson G. Rabinbach (1993), ‘Science, Work, and Worktime’ PART III THE CRISIS OF FORDISM 6. Robert Boyer (1987), ‘Labour Flexibilities: Many Forms, Uncertain Effects’ 7. Annemieke J.M. Roobeek (1987), ‘The Crisis in Fordism and the Rise of a New Technological Paradigm’ 8. Robert Boyer (1991), ‘The Eighties: The Search for Alternatives to Fordism’ 9. Andrew Glyn (1990), ‘Productivity and the Crisis of Fordism’ 10. Karel Williams, Tony Cutler, John Williams and Colin Haslam (1987), ‘The End of Mass Production?’ PART IV BEYOND FORDISM TO ...? 11. Horst Kern and Michael Schuman (1989), ‘New Concepts of Production in West German Plants’ 12. Michael Schumann (1998), ‘New Concepts of Production and Productivity’ 13. Heidi Gottfried (1995), ‘Developing Neo-Fordism: A Comparative Perspective’ 14. Stephen Wood (1993), ‘The Japanization of Fordism’ 15. Knuth Dohse, Ulrich Jürgens and Thomas Malsch (1985) ‘From "Fordism" to "Toyotism"? The Social Organization of the Labor Process in the Japanese Automobile Industry’ 16. Danièle Leborgne and Alain Lipietz (1992), ‘Conceptual Fallacies and Open Questions on Post-Fordism’ 17. Gaëtan Tremblay (1995), ‘The Information Society: From Fordism to Gatesism’ 18. Sean Digiovanna (1996), ‘Industrial Districts and Regional Economic Development: A Regulation Approach’ PART V GENERAL REVIEWS 19. Andrew Sayer (1989), ‘Postfordism in Question’ 20. Fiorenza Belussi and Francesco Garibaldo (1996), ‘Variety of Pattern of the Post-Fordist Economy: Why are the "Old Times" Still with Us and the "New Times" Yet to Come?’ 21. Jamie Gough (1992), ‘Where’s the Value in "Post-Fordism"?’ 22. Paul Hirst and Jonathan Zeitlin (1992), ‘Flexible Specialization versus Post-Fordism: Theory, Evidence, and Policy Implications’ Name Index Volume IV: Country Studies Acknowledgements Series Preface Bob Jessop Introduction Bob Jessop PART I NORTH AMERICA 1. Victor D. Lippit (1997), ‘The Reconstruction of a Social Structure of Accumulation in the United States’ 2. Jane Jenson (1990), ‘Representations in Crisis: The Roots of Canada’s Permeable Fordism’ PART II EUROPE 3. Otto Holman (1987–88), ‘Semiperipheral Fordism in Southern Europe: The National and International Context of Socialist-led Governments in Spain, Portugal, and Greece, in Historical Perspective’ 4. Miguel Martinez Lucio and Paul Blyton (1995), ‘Constructing the Post-Fordist State? The Politics of Labour Market Flexibility in Spain’ 5. Bob Jessop (1989), ‘Conservative Regimes and the Transition to Post-Fordism: The Cases of Great Britain and West Germany’ 6. Jamie A. Peck and Adam Tickell (1992), ‘Local Modes of Social Regulation? Regulation Theory, Thatcherism and Uneven Development’ 7. Winfried Ruigrok and Rob van Tulder (1996), ‘The Price of Diversity: Rival Concepts of Control as a Barrier to an EU Industrial Strategy’ PART III SOUTH AFRICA 8. Nicoli Nattrass (1992), ‘Profitability: The Soft Underbelly of South African Regulation/SSA Analysis’ 9. Christian M. Rogerson (1991), ‘Beyond Racial Fordism: Restructuring Industry in the "New" South Africa’ PART IV JAPAN 10. Martin Kenney and Richard Florida (1988), ‘Beyond Mass Production: Production and the Labor Process in Japan’ 11. Benjamin Coriat (1993), ‘Neither Pre- nor Post-Fordism: An Original and New Way of Managing the Labour Process’ 12. Tatsuo Naruse (1991), ‘Taylorism and Fordism in Japan’ 13. J.A. Peck and Y. Miyamachi (1993/1994), ‘What’s Ford Got To Do With It? Regulation Theory and Japanese Capitalism’ PART V OTHER EAST ASIAN SOCIETIES 14. Alice H. Amsden (1990), ‘Third World Industrialization: "Global Fordism" or a New Model?’ 15. Ngai-Ling Sum (1998), ‘Theorizing Export-Oriented Economic Development in East Asian Newly-Industrializing Countries: A Regulationist Perspective’ 16. Seongjin Jeong (1997), ‘The Social Structure of Accumulation in South Korea: Upgrading or Crumbling?’ PART VI SOCIALISM AND POST-SOCIALISM 17. Robert Boyer (1995), ‘The Great Transformation of Eastern Europe: A "Regulationist" Perspective’ 18. Adrian Smith and Adam Swain (1998), ‘Regulating and Institutionalising Capitalisms: The Micro-foundations of Transformation in Eastern and Central Europe’ 19. Ulrich Voskamp and Volker Wittke (1991), ‘Industrial Restructuring in the Former German Democratic Republic (GDR): Barriers to Adaptive Reform Become Downward Development Spirals’ Name Index Volume V: Developments and Extensions Acknowledgements Series Preface Bob Jessop Introduction Bob Jessop PART I RECENT THEORETICAL INNOVATIONS 1. Robert Salais and Michael Storper (1992), ‘The Four "Worlds" of Contemporary Industry’ 2. John Wilkinson (1997), ‘A New Paradigm for Economic Analysis? Recent Convergences in French Social Science and an Exploration of the Convention Theory Approach with a Consideration of its Application to the Analysis of the Agrofood System’ 3. Joe Painter (1997), ‘Regulation, Regime, and Practice in Urban Politics’ PART II SOCIAL MOVEMENTS AND IDENTITY POLITICS 4. Margit Mayer and Roland Roth (1995), ‘New Social Movements and the Transformation to Post-Fordist Society’ 5. George Steinmetz (1994), ‘Regulation Theory, Post-Marxism, and the New Social Movements’ 6. Jane Jenson (1991), ‘Thinking (a Feminist) History: The Regulation Approach as Theatre’ PART III SPACE AND SCALE 7. Frank Moulaert, Erik Swyngedouw and Patricia Wilson (1988), ‘Spatial Responses to Fordist and Post-Fordist Accumulation and Regulation’ 8. Chris Collinge (1999), ‘Self-organisation of Society by Scale: A Spatial Reworking of Social Regulation Theory’ 9. Erik Swyngedouw (1997), ‘Neither Global Nor Local: "Glocalization" and the Politics of Scale’ PART IV CITIES 10. Pierre Filion (1995), ‘Fordism, Post-Fordism and Urban Policy-Making: Urban Renewal in a Medium-Size Canadian City’ 11. Myung-Rae Cho (1997), ‘Flexibilization Through Metropolis: The Case of Postfordist Seoul, Korea’ 12. Neil Brenner (1999), ‘Globalisation as Reterritorialisation: The Re-scaling of Urban Governance in the European Union’ PART V GLOBALISATION 13. David M. Gordon (1988), ‘The Global Economy: New Edifice or Crumbling Foundations?’ 14. Harriet Friedmann (1991), ‘New Wines, New Bottles: The Regulation of Capital on a World Scale’ 15. Bob Jessop (1999), ‘Reflections on Globalisation and its (Il)logic(s)’ PART VI SOME EMERGING ISSUES 16. Alfredo C. Robles, Jr. (1995), ‘Global Governance and Political Economy: German and French Perspectives’ 17. Bob Jessop (1995), ‘The Regulation Approach, Governance and Post-Fordism: Alternative Perspectives on Economic and Political Change?’ 18. Mary Nolan (1990), ‘"Housework Made Easy": The Taylorized Housewife in Weimar Germany’s Rationalized Economy’ 19. Philip Arestis and Eleni Paliginis (1995), ‘Fordism, Post-Fordism and Gender’ 20. Alain Lipietz (1996), ‘Geography, Ecology, Democracy’ PART VII RECENT REVIEWS 21. Bob Jessop (1997), ‘Twenty Years of the (Parisian) Regulation Approach: The Paradox of Success and Failure at Home and Abroad’ 22. Gordon MacLeod (1997), ‘Globalizing Parisian Thought-waves: Recent Advances in the Study of Social Regulation, Discourse, Politics, Discourse and Space’ Name Index

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Book SynopsisThis important new book is the first general overview of the macroeconomic nature and recent history of the Singapore economy.After discussing general features of modern Singapore's economy, government and development strategy, the authors analyse its macroeconomic history over the past three decades, as well as reviewing current macroeconomic theory regarding small, open economies. Singapore's monetary system, trade patterns, balance of payments and the nature of its exchange rate mechanism and policy are all described and analysed in the subsequent chapters which also look at its growth and cyclical experiences and provide a review of the ways economists have attempted to model the economy. The Singapore Economy integrates much previous research scattered in many sources as well as containing an extensive bibliography of references about the economy and the statistical sources used. It will be suitable for students of macroeconomics and economic development in Asia, and the general reader interested in the nature, structure and recent growth of the Singapore economy.Trade Review'This text provides an objective and analytically robust treatment of the Singaporean economy. It shows clearly how basic macroeconomic analysis can be used to interpret the growth and development experience of Singapore and offers a novel approach by discussing current policy issues.'Table of ContentsContents: 1. An Introduction to Singapore 2. Macroeconomic History 3. Macroeconomic Thinking and Concepts 4. Macroeconomics for an Open Economy 5. Money in the Economy 6. Trade and Exchange Rates 7. Growth and Cycles 8. Modelling the Economy 9. In Place of a Conclusion References

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Book SynopsisAsian Economies in Transition analyses and evaluates the experience of the eleven Asian economies undertaking the transition from central planning to a more market-oriented approach.China, Indochina, Mongolia, Azerbaijan and the Central Asian Republics are the focus of Richard Pomfret's book which begins with a detailed discussion of the Chinese model of transition highlighting its failures as well as its successes. Vietnam's experience, while offering the closest parallel to China's reform strategy, is shown by the author to contain more explicit macroeconomic policy reforms and greater practical attention to the problem of inefficient state enterprises. Dr Pomfret also discusses the less happy experience of the Asian republics of the former Soviet Union, the break-up of the rouble zone, and the interesting counterpoint provided by the Mongolian economy. The Tumen River project is also examined as an example of cooperation between reformed and non-reformed Socialist economies.Trade Review'It affords a very valuable insight into the strengths and weaknesses affecting change in the concerned countries.'Table of ContentsContents: Preface 1. The Asian Transition Economies 2. Economic Reform in China,1978–94 3. Direct Foreign Investment in China 4. Financial Reform in China 5. Economic Reform in Indochina 6. Mongolia’s Economic Reforms 7. The Central Asian Republics 8. Azerbaijan 9. The Decision to Use the Ruble or to Issue National Currencies 10. The Tumen River Project: Cooperation among Reformed and non-Reformed Socialist Economies 11. Lessons from China for other Transition Economies References Index

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Book SynopsisThe decentralization of economic institutions in the West since the 1970s and in Eastern and Central Europe since 1989 is a significant and ongoing process which has implications for the nature of economic systems.This major new book explores the importance of institutions in economic systems and challenges the traditional assumption of antagonism between tendencies to centralize and tendencies to decentralize. An international group of authors from Europe and the US addresses different aspects of the centralization-decentralization issues including privatization, fiscal federalism, the recent experience of Russia and Eastern Europe, and the role of quasi-markets and non-profit organizations. Drawing on theoretical approaches and empirical material, they argue that the real achievement of efficiency requires the presence of certain key criteria in the structure of the market. Every move towards decentralization, such as privatization, is shown to entail counter-balancing moves towards centralization, such as the introduction of improved, central regulation.Economic Institutions, Markets and Competition will be welcomed for exploring the implications of centralization and decentralization in the transformation of economic systems and for emphasizing market structure as well as market competition.Trade Review'The wide array of topics should assure that even those with only a mild interest in institutional analysis or the transition economies will find many pages in this work to occupy their interest.' -- David Schap, Southern Economic Journal'This is an interesting book, which stimulates discussion.'– Klaus Schabacker, The Economic JournalTable of ContentsContents: 1. The State and the Firm: The Centralization and Decentralization of Economic Institutions: an introduction (B. Dallago, L. Mittone) Part I: Institutions and Markets 2. “Creative Destruction” in Economic and Political Institutions (M. Egidi) 3. Decentralization as Ability to Adapt (J. Birner) 4. What Type of Capitalism is Produced by Privatization? (H.-J. Wagener) 5. The Market for Institutions Versus the Strong Hand of the State: The Case of Eastern Europe (S. Pejovich) Part II: Centralization and Decentralization, Paradigms and Facts 6. A Presentation of Fiscal Federalism (G. Brosio) 7. Fiscal Federalism in Russia (P. Sutela) 8. Privatization, Decentralization, Competition: Some Lessons from a Concentration Analysis of Hungarian Industries (Z. Bara) 9. Labour Market and Employment Policy in Central and Eastern Europe in the Context of Systemic Change (J. Koltay) Part III: Creation and Development of Markets in Eastern Europe 10. Behavioural Constraints and the Creation of Markets in Post-Socialist Economies (W. Swaan) 11. Decentralization and Centralization in the Enterprise Sphere of the Czech Republic (J. Sereghyová) 12. The Collapse of the Russian Economy: An Institutional Explanation (R. Knaack) 13. The Revival of Redistribution in Hungary (E. Voszka) 14. Inter-enterprise Arrears in Economies in Transition: Analytical, Empirical and Policy Issues (F. Coricelli) Part IV: The Quasi-Market Formula 15. The Privatization of Welfare Services and the Role of Non-Profit Organziations (C. Borzaga) 16. Quasi- Markets and Incomplete Information: The Case of Medical Services in the UK and Italy (L. Mittone) 17. Privatization, Non-profit Trusts and Contracts for Healthcare Services in the UK (W. Bartlett) Index

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Book SynopsisThis book presents for the first time a careful selection of David Teece's most important writings on the theory of the firm and its implications for economic performance. After a biographical introduction which sheds new light on his research programme, the book focuses on key areas, including:- the nature of the firm and dynamic capabilities diversification and vertical integration internal organization and economic performance international scope, alliances and joint ventures The volume also includes an extensive introduction which provides a biographical insight into the development of the author's career and his continuing research into the areas the articles in this volume exlore. David Teece's style of writing is succinct and logical and the material presented in this volume, and its companion Strategy, Technology and Public Policy, will be of great interest to economists, managers, consultants and policy makers.Trade Review'Few economists in the twentieth century have made so many significant contributions to different areas of industrial economics as David Teece. He has led the way in integrating industrial organization, technological innovation and strategic management, and these two volumes show how he did it.' -- Mark Casson, University of Reading, UKTable of ContentsContents: Introduction Part I: Nature of the Firm and Dynamic Capabilities Part II: Diversification Part III: Vertical Integration Part IV: International Scope PartV: Internal Organization and Economic Performance Part VI: Alliances and Joint Ventures Index

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Book SynopsisMacroeconomic analysis has undergone profound and controversial changes during the past twenty-five years and, as such, economists have developed and evolved their approaches to the discipline. Reflections on the Development of Modern Macroeconomics presents a collection of eight original essays, from leading scholars, each of which focuses on an important issue relating to these developments.These accessible, reflective surveys include: to stabilize or not to stabilize: is that the question? Brian Snowdon and Howard Vane the rhetoric and methodology of modern macroeconomics Roger Backhouse how relevant is Keynesian economics today? Keith Shaw what remains of the monetarist counter-revolution? Thomas Mayer macroeconomics: before and after rational expectations Patrick Minford the ups and downs of modern business cycle theory Cillian Ryan and Andrew Mullineux the role of imperfect competition in new Keynesian economics Huw Dixon politics and the macroeconomy: endogenous politicians and aggregate instability Brian Snowdon and Howard Vane This book will attract a wide readership among intermediate undergraduates, as well as postgraduates and lecturers in the fields of macroeconomics and the history of economic thought.Trade Review'An eclectic, insightful collection on the development of modern macroeconomics.' -- David C. Colander, Middlebury College, US'This is a superb book providing a comprehensive, authoritative and lucid coverage of today's macroeconomic debates. It is a welcome addition for both students and their teachers.'– Peter M. Jackson, University of Leicester, UKTable of ContentsContents: Preface 1. To Stabilize or not to Stabilize: Is that the Question? (B. Snowdon, H.R. Vane) 2. The Rhetoric and Methodology of Modern Macroeconomics (R.E. Backhouse) 3. How Relevant is Keynesian Economics Today? (G.K. Shaw) 4. What Remains of the Monetarist Counter-Revolution? (T. Mayer) 5. Macroeconomics: Before and After Rational Expectations (P. Minford) 6. The Ups and Downs of Modern Business Cycle Theory (C. Ryan, A.W. Mullineux) 7. The Role of Imperfect Competition in New Keynesian Economics (H.D. Dixon) 8. Politics and the Macroeconomy: Endogenous Politicians and Aggregate Instability (B. Snowdon, H.R. Vane)

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Book SynopsisPrivatization, Deregulation and the Macroeconomy focuses on the macroeconomic consequences of microeconomic rigidity in the markets for goods or services and the reforms necessary to create economic dynamism. Peter van Bergeijk and Robert Haffner address questions of how market structure, competition policy, over-regulation and collusive behaviour may influence macroeconomic performance. Drawing on many examples from the OECD countries (most notably, Germany, New Zealand, Australia and the Netherlands), Eastern Europe and the Third World, the authors show how economic policies intended to provide greater flexibility can be analysed. The authors examine the diagnosis or measurement of product market inertia at the mesoeconomic level and its consequences at the macroeconomic level such as employment, per capita income growth and price stability. In Privatization, Deregulation and the Macroeconomy, Peter van Bergeijk and Robert Haffner deal not only with practical policy matters but also with the theoretical issues of how to determine price rigidity (hysteresis on the product markets) and their macroeconomic implications. This book will be welcomed by economists interested in industrial organization, macroeconomics, neo Keynesianism, development economics and transitional economies and will also be of interest to policymakers.Trade Review'This is a useful book. It provides a good combination of theory, empirical and policy analysis. The book targets a broad audience and is of interest to both academics and policy analysts. . . . is a useful addition to the literature.'Table of ContentsContents: Part I: Structural Change 1. On the Macroeconomic Consequences of Microeconomic Reform 2. Structural Change: The Policy Stance Part II: Industrial Economics 3. Economic Dynamism, Competition and the Structure-Conduct-Performance Paradigm 4. Measuring the Speed of the Invisible Hand Part III: Macroeconomics 5. Structural Rigidity, Macroeconomic Inefficiency and the Efficacy of Economic Policy 6. Modelling Strategies for Structural Reform Part IV: Policy 7. The Art of Reform 8. Combating Product Market Inertia: Some Conclusions Indexes

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Book SynopsisThis book makes an important contribution at the forefront of business cycle theory. The contributors evaluate historical evidence, present new empirical results and suggest that the explanation of business cycle phenomena may, in part, depend on the way in which historical data is interpreted.This innovative book places great emphasis on the complementarity between empirical and theoretical business cycle research. The authors present studies of business cycles concentrating on the Great Depression of the 1930s, early and late nineteenth century American economic history, the United Kingdom before 1914, interwar Germany and Japan, and Canada and the United States during the Gold Standard era. A number of contributions address the Phillips curve and labour markets, and provide illustrations of the use of both macro and micro data. An important finding is the contribution to business cycle research made by hitherto untouched sources of historical labour market microdata. The book demonstrates the importance of the reconstruction of well researched data to our conception and understanding of business cycle phenomena. This book will be useful reading for academics and students of macroeconomics and economic history, with an interest in understanding business cycles.Trade Review'Business Cycles since 1820, commendably compiled and edited by Trevor J.O. Dick, provides a very interesting sample of recent efforts made in the direction of improving our understanding of (largely classical) cycles, through the compilation and analysis of extended and extensive historical data sets for a variety of countries. I recommend the text to any academic researchers and postgraduate students with specific interests in the historical analysis of business cycles and nominal rigidities, as part of their wider reading and research in the area.' -- Philip M. Bodman, Economic RecordTable of ContentsContents: Introduction Part I: Recasting Business Cycles with New Data: A Cross Country Sampling 1. Consistent Output Series for the Antebellum and Postbellum Periods: Issues and Preliminary Results (C. Calomiris and C. Hanes) 2. The Great Depression in Japan: Why so Short and Mild? (T. Iwami, T. Okazaki and H. Yoshikawa) 3. A Reassessment of the United Kingdom Business Cycle Chronology (J. T. Klovland) 4. Measuring National Product in Germany, 1925-1938: The State of the Debate and Some Results (A. Ritschl) Part II: Phillips Curves and Labor Markets: Macro vs Micro Views 5. The Labour Market a Hundred Years Ago: New, Micro-level Evidence on Long-Term Change from the Depression of 1893-94 (S. Carter and R. Sutch) 6. Phillips Curves under the Gold Standard Regime: Canada and the United States Compared (T.J.O. Dick) 7. Consistent Wholesale Price Series for the United States, 1860-1990 (C. Hanes) 8. The Cyclical Adjustment of Hours and Employment in the Prewar United States: Evidence from the Depression of 1893-94 (J.A. James) 9. Central Bank Behavior, the Exchange Rate Regime, and the Persistence of Inflation in Historical Perspective (P.L. Siklos and R.C.K. Burdekin) References

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Book SynopsisUnemployment and the Economists addresses economic ideas, beliefs and arguments regarding the causes and possible cures of unemployment - a matter of recurring interest and concern for economists throughout history.An overview essay by Bernard Corry shows how the economic policy and theory has focused more on giving incentives for the unemployed to find work than on altering the structure of the demand for labour. Terry Peach writes about Ricardo's debates with Malthus on unemployment following the Napoleonic wars, while Jose Harris examines the phenomenon during the 1870 to 1914 period. The volume also includes work by George Peden on the interwar British Treasury's rejection of borrowing to counter unemployment and Alan Budd's paper on the theory and practice of unemployment policy since the second world war. The volume concludes with comments by Walter Eltis.Featuring some of the leading scholars currently writing on the history of economic thought and policy, Unemployment and the Economists will be welcomed as a substantial contribution to an on-going and highly pertinent economic, political and social debate.Trade Review'. . . the essays provide worthwhile reading for those interested in the evolution of thinking on unemployment and related policy issues throughout history.'Table of ContentsContents: Preface 1. Unemployment in the History of Economic Thought: An Overview and Some Reflections (B. Corry) 2. Ricardo and Malthus on the Post-Napoleonic Distress: Too Many Producers or a Momentary Lapse of Reason? (T. Peach) 3. From Sunspots to Social Welfare: The Unemployment Problem 1870–1914 (J. Harris) 4. The Treasury View in the Interwar Period: An Example of Political Economy? (G. Peden) 5. Unemployment Policy Since the War - the Theory and the Practice (A. Budd) 6. Unemployment and the Economists: A Concluding Comment (W. Eltis) Index

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Book SynopsisOver the years the theoretical structure of input-output analysis has been refined and its applications have been widened. This three volume set presents an overview of this development and an assessment of the current state of the subject. It offers a comprehensive collection of previously published articles which present some of the most significant theoretical and empirical contributions of leading scholars to multisectoral economic analysis.The first volume is devoted to the foundations of input–output analysis, to dynamic models and to multisectoral extensions of the multiplier principle. Volume II explores approaches to the modelling of economics and the environment, to the analysis of foreign trade and to regional and interregional economic activities. The third volume discusses the methodologies developed for the investigation of economic structures, offers an analysis of various versions of price models and investigates the problems related to the estimation of input–output data.Trade Review’. . . impressive collection . . . I am delighted to have this collection in my library.’ -- Anne P. Carter, Economic Systems Research<’The volumes provide an excellent survey of the present state of knowledge in this field and most economists will find much of interest in the work.’– Aslib Book GuideTable of ContentsContents: Volume I: Part I: Foundations of Input–Output Analysis PartII: Dynamic Input-output Analysis Part III: Multiplier Analysis, Extended IO-Models and Social and Demographic Accounting • Volume II: Part I: Energy and Environment Part II: Foreign Trade and International Models Part III: Regional and Interregional Models Part IV: Systems with Input and Output Matrices • Volume III: Part I: Structural Analysis Part II: Price Models Part III: Data-Related Topics

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Book SynopsisIn Government Versus the Market, Roger Middleton provides a comprehensive, interdisciplinary and controversial analysis of how Britain's relative economic decline from the late nineteenth century onwards generated an intense debate about the legitimate roles of government and the market. After a thorough analysis of Britain's long-run economic performance in a comparative context, which emphasizes how the problem of decline is frequently misunderstood, and an account of the long-run forces promoting and constraining government growth, he then charts how the economic role of government evolved in response to decline but produced a mix of macroeconomic and microeconomic policies which proved inadequate for the task. This major study emphasizes the institutional and political constraints to economic modernization and uses the specific characteristics of Britain's predicament, a combination of market failure and impotent state, to explain why by 1979 the burgeoning New Right were able to launch an attack upon big government. Dr Middleton then demonstrates how Britain's subsequent economic performance, while brilliantly propagandized as an economic renaissance, has in fact been lacklustre and why the Conservatives' economic strategy failed to address the underlying problems of decline and to reduce the size of the public sector. Government versus the Market brings an unrivalled historical, empirical and theoretical breadth to our understanding of the last century of British economic history as well as a wealth of material on economic performance and public sector growth, and the fullest bibliography yet published on Britain's economic decline.Comprehensive, authoritative and wide-ranging, this extensive study uses a long-term and comparative framework which draws upon the latest research of economists, historians and political scientists to show why successive governments have been unable to halt Britain's relative economic decline. Trade Review'Middleton provides a systematic set of historical and internationally comparative perspectives which will make his book a rich quarry for all teachers and students in the field. . . Middleton's text is most likely to outstay other contenders in his field.' -- Eric Richards, Australian Economic History Review'This is a comprehensive, interdisciplinary and controversial analysis of how Britain's relative economic decline from the late 19th century onwards generated an intense debate about the legitimate roles of government and the market. . . . There is a wealth of material on economic performance and public-sector growth, and a very complete bibliography on Britain's economic decline.' -- International Review of Administrative Science'. . . a highly worthwhile contribution to the literature. Its sheer breadth of carefully employed source material makes it a valuable resource. Middleton has provided a text of interest to the advanced undergraduate and researcher alike, and against the sheer reach of his analysis over such volume he should be praised.' -- Paul Reynolds, Capital & Class'This is an unusual and innovative book . . . a great source of ideas for teaching and research, and Middleton is to be congratulated on his heroic exercise.' -- R. Millward, Economic History Review'. . . this is a most impressive book, providing a mass of information and argument, synthesising huge amounts of material in an accessible way. In short, this is a major contribution to twentieth century British economic history.' -- Jim Tomlinson, Contemporary British History'It is indeed an overwhelming book, bringing together a mass of material and organizing it into a coherent account of economic development and public policy.' -- Keith Tribe, The Manchester SchoolTable of ContentsContents: Preface Part I: Introduction 1. Introduction 2. Government and Market: A Historical and Theoretical Survey 3. The Growth of the Public Sector: An Overview Part II: The Distintegration of the Old Synthesis, 1890–1914 4. The Performance of the Late-Victorian and Edwardian Economy 5. The Growth of Government: The Challenge to laissez-faire 6. Government, ‘National Efficiency’ and the Economy, 1890–1914 Part III: Creeping Collectivism, 1914–1939 7. The Performance of the Interwar Economy 8. War, Mass Unemployment and the Growth of Government between the Wars 9. The Origins of Modern Economic Management: Macroeconomic Potential and Microeconomic Failure Part IV: The Rise and Fall of Keynesian Social Democracy 1939-1979 10. The Performance of the Postwar Economy to 1979 11. The Consolidation of Big Government: The Market Eclipsed and the Growth of the Public Sector 1939–79 12. Postwar Economic Management and Policy Impact to 1979 Part V: Conclusions 13. Conclusions Notes Bibliography Indexes

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Book SynopsisFull Employment and Growth presents James Tobin's unique modern Keynesian slant on the major monetary, fiscal and international policy issues of the 1990s.More than twenty recent essays collected together in this volume address the major contemporary issues of macroeconomic policy, especially in America. Usually dissenting from the orthodoxies of the day, both liberal and conservative, Professor Tobin offers a common sense, unhysterical view of public deficits and debt, speaks for pragmatic monetary policies, argues against protectionism and favours slowing down the speculative movement of funds between currencies. The author also presents his own suggestions for reform of social security and health care.Again and again, Professor Tobin warns against blind faith that the markets will always produce optimal results. All those interested in the application of economic analysis and argument to the salient policy issues of our time will find these essays eminently readable and will appreciate the clear ways in which the power of economic analysis is explained and used.Trade Review'The essays are permeated with that upsurge of optimism and spirit. Long may Jim Tobin continue to instruct and inspire us.' -- G.C. Harcourt, The Manchester School'The style is lucid and very readable and all mathematical formalization is left out. An impressive and important book, it is highly recommended to all.'– Tareen Hussain, The Economic JournalTable of ContentsContents: Acknowledgements Part I: Macroeconomic Policy Part II: Monetary Policy Part III: Fiscal Policy Part IV: International Economic Relations Part V: Social Policy Index

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Book SynopsisThis important new book is the first general overview of the macroeconomic nature and recent history of the Singapore economy.After discussing general features of modern Singapore's economy, government and development strategy, the authors analyse its macroeconomic history over the past three decades, as well as reviewing current macroeconomic theory regarding small, open economies. Singapore's monetary system, trade patterns, balance of payments and the nature of its exchange rate mechanism and policy are all described and analysed in the subsequent chapters which also look at its growth and cyclical experiences and provide a review of the ways economists have attempted to model the economy. The Singapore Economy integrates much previous research scattered in many sources as well as containing an extensive bibliography of references about the economy and the statistical sources used. It will be suitable for students of macroeconomics and economic development in Asia, and the general reader interested in the nature, structure and recent growth of the Singapore economy.Trade Review'This text provides an objective and analytically robust treatment of the Singaporean economy. It shows clearly how basic macroeconomic analysis can be used to interpret the growth and development experience of Singapore and offers a novel approach by discussing current policy issues.'Table of ContentsContents: 1. An Introduction to Singapore 2. Macroeconomic History 3. Macroeconomic Thinking and Concepts 4. Macroeconomics for an Open Economy 5. Money in the Economy 6. Trade and Exchange Rates 7. Growth and Cycles 8. Modelling the Economy 9. In Place of a Conclusion References

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Book SynopsisBringing together different perspectives on structural adjustment and the prospect for sustainable economic growth in Eastern Europe, Economics of Transition represents a shift in scholarly emphasis away from issues of stabilization and liberalization in favour of longer-term considerations. This major volume features a distinguished collection of papers focusing on the theoretical and policy implications of transition and change in Eastern Europe. Drawing on work from a wide range of traditions, it explores how effective demand induces growth, how diffusion takes place, how economic policy influences incentives, motivations and behaviours, how institutions influence organization and technological capability building, and how institutions both constrain and guide economic policy.Economics of Transition is the first of a major new series published by Edward Elgar for The Vienna Institute for Comparative Economic Studies. The intention of this new series is to encourage discussion on the economic theory and policy of transition and European economic integration.Trade Review'. . . this volume makes an important contribution to the literature on economic transition by presenting a persuasive, well-supported criticism of conventional transition policy, as well as a number of explicit policy alternatives.' -- Hannah E. Kettler, Eastern Economic Journal' . . . this book is a useful addition to the literature on economic transition and marks a turn from short run economic policy advice towards theoretical understanding.'– Jens Holscher, The Economic JournalTable of ContentsContents: Introduction 1. Structural Adjustments and Growth: Is Eastern Europe Catching Up? (M. Knell) 2. Stabilization and Prospects for Sustainable Growth in the Transition Economies (P. Havlik) 3. Economics of Transition: Some Gaps and Illusions (A. Nove) 4. Macroeconomic Collapse During Systemic Change (J.B. Rosser, Jr. and M.V. Rosser) 5. An Alternative Economic Policy for Central and Eastern Europe (K. Laski) 6. Patterns of Economic Transition and Structural Adjustments (A. Bhaduri) 7. Balance-of-Payments Constrained Growth in Central and Eastern Europe (M. Landesmann and J. Pöschl) 8. Growth Consequences of Systemic Transformation (V. Gligorov and N. Sundström) 9. Prospects of Building Science andTechnology Capabilities in Central and Eastern Europe’ (S. Radosevic) 10. Closing the Institutional Hiatus in Economies in Transition: Beyond the ‘State versus Market’ Debate (R. Kozul-Wright and P. Rayment) Index

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Book SynopsisThis authoritative Handbook provides a thorough account and analysis of the important issues relating to the globalization of the international economy. The increasing interdependence of the world's economies has caused a breakdown in national economic boundaries and a freer access to goods, services and labour. This comprehensive book, written by experts in the field, addresses major issues associated with this international economic integration. This reference work considers: global growth including inequality, saving, foreign direct investment, external debt and multinational corporations regionalization and globalization of trade such as the role of international institutions, external economies of scale and trading blocs transition to market economies in Central and Eastern Europe, the former Soviet Union and East Asia internationalization and integration of markets including the financial, capital, labour and agricultural markets global environmental and resource problems including transboundary pollution, the implication of North-South trade for natural resource depletion and environmental degradation, and the impact of energy markets on global growth, pollution and economic stability. Trade Review'. . . it offers expanded coverage of issues from pure international economics to certain aspects of political economy. . . . the present book is a fine work and certainly makes a valuable contribution to the growing list of books addressing globalization. Students of globalization and last but not least practitioners and politicians, as well as diplomats working in international organizations, can learn from it.' -- Marjan Svetlicic, Journal of International Relations and DevelopmentTable of ContentsContents: Part I: Global Growth, Inequality, Saving, Investment and Indebtedness Part II: Regionalization and Globalization of Trade Part III: From Centrally Planned to Market Economy Part IV: Internationalization and Integration of Markets Part V: Global Environment and Resource Problems Index

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Book SynopsisThis important new book deals with some of the most fundamental issues of transaction cost economics. It focuses on the analysis of the internal nature and characteristics of organizations and on the subtle interactions between institutional environment and governance structures over time.Transaction Cost Economics investigates the nature of contractual arrangements involved in large organizations, the 'configurations' of corporations, the modes of governance implemented, and the respective role of different constituencies. The second series of problems addressed in the book concerns the interaction between the institutional environment and governance structures over time, with special emphasis on the Russian privatization programme and the narcotics market. These twin analyses substantiate the distinction between private and public ordering. The book is strongly oriented towards increasing the operationalization of the concepts of transaction cost economics.The book will be essential reading for everyone interested in the new institutional economics and by recent developments in the theory of contracts, in transaction costs economics and in organisation theory. Because of its emphasis on potential applications, it will also be of interest to readers from management science and those involved in the analysis of economies in transition.Trade Review'This collection of essays provides interesting and . . . contentious readings.'Table of ContentsContents: Preface 1. Hierarchies, Markets and Power in the Economy: An Economic Perspective (O.E. Williamson) 2. Internal Characteristics of Formal Organizations (C. Menard) 3. Contractual Relationships Within the Firm (J.-P. Bouttes, P. Hamamdjian) 4. Privatization in Russia: What Should be a Firm? (P.L. Joskow, R. Schmalensee) 5. Illegal Markets and New Institutional Economics (M. Turvani) 6. Transaction Costs Through Time (D.C. North) Index

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Book SynopsisOne of the basic issues of accounting is to augment, or extend the conventional net national product measure so as to obtain a better indicator of welfare. This book extends the usual analysis of social accounting by including technological change, externalities and uncertainty.This important new book analyses welfare measurement, sustainability and 'green accounting' within general equilibrium models. A large part of the book is devoted to welfare measurement in the presence of technological change and external effects which complicate 'green accounting' to a considerable extent. In addition to environmental externalities, the authors also discuss external effects arising from investments in human capital and their implications for welfare measurement. Other areas examined are welfare measurement under uncertainty and examples of cost-benefit analyses of environmental and other policies.The book will be required reading for graduate students and professional economists interested in macroeconomics, environmental and resource economics.Trade Review'This is definitely a book for graduate students and researchers in the field, as a large number of different economic theories are drawn upon. . . . The book is well structured; the reader is led through the concepts, issues and theories in a logical order, with each chapter leading neatly on from and building upon the ideas presented in the previous chapters.'Table of ContentsContents: 1. Introduction 2. Introducing Dynamic Models and Welfare Indices 3. A Dynamic General Equilibrium Model 4. Welfare Measures under Technological Change and Externalities 5. Human Capital – A Recent Issue in ‘Practical’ National Accounting 6. Sustainable Development and its Relation to Welfare Measures 7. A Smörgasbord of Topics 8. Welfare Measurement under Uncertainty 9. Afterwords References Index

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Book SynopsisFinancial reforms in the former command economies of Central and Eastern Europe have given birth to institutions that further the links between these economies and the world economy. This book studies in a comparative framework financial developments in Central and Eastern Europe and highlights aspects that are unique to these developments.The book begins with country profiles of Albania, Bulgaria, Croatia, Czech Republic, Hungary, Macedonia, Poland, Romania, Slovak Republic, Slovenia and FR Yugoslavia. The transition process in eleven countries is tracked by means of a review of the role of monetary policy in macroeconomic stabilization, the characteristics of the banking systems, the transfer of corporate ownership through privatization schemes, the dynamics of exchange-related trading, and the role of international funding. The book turns then to an in-depth analysis of specific issues including central bank independence, the design of promotional banks, privatization processes, the efficiency of emerging capital markets, financial risk, and foreign debt settlement.The book will appeal especially to policymakers interested in the evolution and operation of financial institutions in transitional economies, and to academics and researchers who are keen to learn more about the economics of transition, financial and monetary economics, and comparative economic systems.Trade Review'The great merit of the present work is that it provides depth and detail on a set of policy issues that are surely crucial to the ultimate success of the process of economic transformation in the former communist world. . . . One of the great merits of this book is that it provides detailed discussion of a number of key technical issues of banking and financial systems that are often neglected in works of this kind.' -- David A. Dyker, Slavic ReviewTable of ContentsContents: Introduction Part I: Country Profiles Part II: Selected Topics

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Book SynopsisCompetition and Economic Integration in Europe explores the relationship between competition policy and economic integration in the enlarging European Union. It contains valuable contributions from academics and officials from inside and outside the European Union as well as offering a transatlantic perspective on the enabling effect of competition policy on deepening European integration.This book examines the importance of competition policy in the Europe Agreements signed with the Central and East European countries, whilst emphasizing that agreement on the adoption of competition rules is just one element in the complex process of accession to the European Union. The book argues that harmonization of competition policy along EU lines across the wider Europe is necessary to create a culture of competition among the European partner countries. The contributors examine the actual and potential roles of competition policy as a regulator of cross-border flows, an agent for the removal of trade barriers and as one of a number of measures to enable a move towards free trade. Competition policy is also advocated as a framework for business behaviour, in order to eradicate 'unfair' competition and as a foundation for the privatization programmes of governments. The book concludes with a postscript linking the argument of the book with the European Commission's Agenda 2000 report of July 1997.This book will prove invaluable to academics and students in the field of transition economics, the economics of the European Union, comparative institutions and industrial policy.Trade Review'The volume has raised wide-ranging questions relating to integration and transition of controlled economies to market economies. Most of these experiences are useful for countries with bulging fiscal deficit and struggling hard to bring in efficiency in public expenditure. . . . The volume will no doubt be useful for policymakers and researchers of countries in transition.' -- Pradosh Nath, Journal of Scientific and Industrial ResearchTable of ContentsContents: 1. Competition Policy for Central and Eastern Europe: The Challenge of the Europe Agreements (S. Estrin and P. Holmes) 2. The Central European Countries and the European Union’s Waiting Room: Why Must they Adopt the EU’s Competition Law? (E.M. Fox) 3. Central and East European Countries’ Approximation of Legislation in the Competition Field: If, Why and How? (T. Jakob) 4. EU Competition policy Without Membership: Lessons from the European Economic Area (E. Smith) 5. The Full Potential of the Europe Agreement: Private Positive Comity, Direct Effect and New Balancing within Public Interest Clauses (G. Marceau) 6. Competition Policy as a Framework for Privatization: The Case of Greece (M. Frangakis) 7. Greek Legislation on Competition policy and its Implementation (N.C. Baltas) 8. Central Issues of Hungarian Competition Policy in the Light of Association with the European Union (F. Vissi) 9. Implementing Competition Policy in Poland: Transition and the European Integration Context (J. Saryusz-Wolski) 10. Approximating Czech Competition Law and the European Union Law: Advantages and Disadvantages (S. Matzchova) 11. Some Aspects of Relations between the European Union and Slovakia (E. Jurzyca) 12. Choices in Transition: The Contract State and Direct Service in Local Government Expenditure (S. Szymanski) Index

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Book SynopsisBaumol's Cost Disease is the inevitable escalation of the real costs that occur in labour-intensive industries like the arts, health care and education. The labour costs in these industries tend to increase at the same rate as other industries, but their scope for utilizing labour-saving technical progress is either small or non-existent.The book opens with an introduction by Ruth Towse in which there is an overview of William Baumol's work. In this discussion Ruth Towse examines Baumol's work in the context of the development of the economics of the arts. The volume is then divided into parts and begins by introducing William Baumol's work through several autobiographical essays. This is followed by some of his early contributions to cultural economics and the cost disease. William Baumol's leading macroeconomic work on the 'unbalanced growth model' is also included and the debate about it at its inception. In parts three and four some of the more empirical papers on the arts are presented as well as essays on policy implications for the arts. Following this are chapters on the theatre and publishing as well as historical studies of the arts and the implications of the cost disease for libraries, health care and education.This book contains William Baumol's contribution to cultural economics and spans over 30 years of writing on the subject, much of which is not widely available. It provides a real insight into the development of Baumol's analysis and his perception of the problems of the arts and other labour-intensive sectors.Trade Review'Baumol is probably recognised more for his contribution to the economics of the performing arts than of scholarly communications. His observation of information technology is rarely cited when it should be. Even his sometime co-author, William G. Bowen, seems unaware of Baumol's diagnosis of the cost disease in academic libraries. Hopefully, the present volume will help remedy this gap.'

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