Public finance and taxation Books

Book SynopsisThis major three-volume work contains key papers which reflect the innovation and imagination that has characterised the field of welfare economics during the last 50 years. The selections range from literary treatments to the most advanced mathematical presentation. However, all readers, regardless of their mathematical sophistication or methodological predilections, will find a large number of the papers interesting and worthwhile in giving an overview of the present state of welfare economics and providing guides to the literature specialities of particular interest.Table of ContentsContents: Volume I Acknowledgements Introduction William J. Baumol and Charles A. Wilson PART I THE CRITERIA A Pareto Criterion and Compensation Principles 1. T. De Scitovszky (1941), ‘A Note on Welfare Propositions in Economics’ 2. Paul A. Samuelson (1950), ‘Evaluation of Real National Income’ 3. Vilfredo Pareto (1971), ‘Maximum Ophelimity’ B Compensation and its Shortcomings 4. Nicholas Kaldor (1939), ‘Welfare Propositions of Economics and Inter-Personal Comparisons of Utility’ 5. J.R. Hicks (1940), ‘The Valuation of Social Income’ 6. W.M. Gorman (1955), ‘The Intransitivity of Certain Criteria Used in Welfare Economics’ 7. John S. Chipman and James C. Moore (1973), ‘Aggregate Demand, Real National Income, and the Compensation Principle’ PART II FOUNDATIONS A General Treatment 8. Arnold C. Harberger (1971), ‘Three Basic Postulates for Applied Welfare Economics: An Interpretive Essay’ 9. Martin S. Feldstein (1972), ‘Distributional Equity and the Optimal Structure of Public Prices’ 10. Robin W. Boadway (1974), ‘The Welfare Foundations of Cost–Benefit Analysis’ B Tools for Welfare Measurement: Single Consumer and Producer 11. J.R. Hicks (1943), ‘The Four Consumer’s Surpluses’ 12. E.J. Mishan (1959), ‘Communications: Rent as a Measure of Welfare Change’ 13. Robert D. Willig (1976), ‘Consumer’s Surplus Without Apology’ 14. Ezra J. Mishan (1977), ‘The Plain Truth About Consumer Surplus’ 15. Alan Randall and John R. Stoll (1980), ‘Consumer’s Surplus in Commodity Space’ PART III MANY-CONSUMER ECONOMIES A Aggregation of Welfare 16. Lord Robbins (1984), ‘Richard T. Ely Lecture: Economics and Political Economy’ and ‘The Significance of Economic Science’ 17. Abram Burk (1938), ‘A Reformulation of Certain Aspects of Welfare Economics’ 18. Paul A. Samuelson (1956), ‘Social Indifference Curves’ B Does Addition of Consumers’ and Producers’ Surpluses Add Up? 19. James E. Anderson (1974), ‘A Note on Welfare Surpluses and Gains From Trade in General Equilibrium’ 20. Richard Schmalensee (1976), ‘Another Look at the Social Valuation of Input Price Changes’ 21. Richard E. Just and Darrell L. Hueth (1979), ‘Welfare Measures in a Multimarket Framework’ 22. Neil Bruce and Richard G. Harris (1982), ‘Cost–Benefit Criteria and the Compensation Principle in Evaluating Small Projects’ PART IV CHOICE BETWEEN MARKET AND NON-MARKET ALLOCATION MECHANISMS 23. Clive Bull and Janusz A. Ordover (1987), ‘Market Structure and Optimal Management Organizations’ 24. R.H. Coase (1937), ‘The Nature of the Firm’ 25. Kenneth J. Arrow (1970), ‘The Organization of Economic Activity: Issues Pertinent to the Choice of Market Versus Nonmarket Allocation’ 26. Raaj Kumar Sah and Joseph E. Stiglitz (1986), ‘The Architecture of Economic Systems: Hierarchies and Polyarchies’ 27. Oskar Lange (1936-1937), ‘On the Economic Theory of Socialism’ 28. A.P. Lerner (1936-1937), ‘A Note on Socialist Economics’ PART V SECOND BEST ANALYSIS 30. Richard G. Lipsey and Kelvin Lancaster (1997), ‘The General Theory of Second Best’ 31. Otto A. Davis and Andrew B. Whinston (1965), ‘Welfare Economics and the Theory of Second Best’ 32. Jean-Jacques Laffont and Jean Tirole (1996), ‘Creating Competition Through Interconnection: Theory and Practice’ Name Index Volume II Acknowledgements An introduction and Preface by the editors to all three volumes appears in volume I PART I VIRTUES OF THE MARKET MECHANISM 1. Vilfredo Pareto (1972), excerpt from Manual of Political Economy 2. E. Barone (1935), ‘The Ministry of Production in the Collectivist State’ 3. A.C. Pigou, M.A. (1952), ‘Rates of Return and the Values of Marginal Private Net Products’ PART II PERFECT COMPETITION: THE FUNDAMENTAL THEOREMS OF WELFARE ECONOMICS A Basic Analysis and Results 4. Oscar Lange (1942), ‘The Foundations of Welfare Economics’ 5. Kenneth J. Arrow (1951), ‘An Extension of the Basic Theorems of Classical Welfare Economics’ 6. Tjalling C. Koopmans (1957), ‘Allocation of Resources and the Price System’ 7. Gerard Debreu (1959/1987), ‘Optimum’ B Application to Intertemporal Setting 8. Paul A. Samuelson (1958), ‘An Exact Consumption-Loan Model of Interest With or Without the Social Contrivance of Money’ 9. David Cass (1972), ‘On Capital Overaccumulation in the Aggregative, Neoclassical Model of Economic Growth: A Complete Characterization’ 10. K.J. Arrow (1964), ‘The Role of Securities in the Optimal Allocation of Risk-bearing’ 11. Oliver D. Hart (1975), ‘On the Optimality of Equilibrium when the Market Structure is Incomplete’ 12. Joseph E. Stiglitz (1982), ‘The Inefficiency of the Stock Market Equilibrium’ 13. John D. Geanakoplos and Heraklis M. Polemarchakis (1986), ‘Existence, Regularity, and Constrained Suboptimality of Competitive Allocations when the Asset Market is Incomplete’ PART III PUBLIC GOODS, EXTERNALITIES AND SCALE ECONOMIES A The Broad Issues 14. Francis M. Bator (1958), ‘The Anatomy of Market Failure’ B Externalities, Scale Economies and Nonconvexities 16. A.C. Pigou, M.A. (1912), ‘Hindrances to Equality of Marginal Net Products Due to Divergence Between Marginal Social Net Product and Marginal Private Net Product’ 17. Alfred Marshall (1920), excerpt from ‘Industrial Organization, Continued. Division of Labour. The Influence of Machinery’ and ‘Limitations of the Use of Statical Assumptions in Regard to Increasing Return’ 18. J.H. Clapham (1922), ‘Of Empty Economic Boxes’ 19. Donald J. Brown and Geoffrey Heal (1979), ‘Equity, Efficiency and Increasing Returns’ 20. William J. Baumol (1979), ‘Quasi Optimality: The Price We Must Pay for a Price System’ PART IV MONOPOLY AND IMPERFECT COMPETITION A General 21. A.C. Pigou, M.A. (1952), ‘Simple Monopoly’ and ‘Discriminating Monopoly’ 22. Joan Robinson (1972), ‘Comparisons of Monopoly and Competitive Output’ 23. Edward Chamberlin (1938), ‘Pure and Monopolistic Competition Compared’ 24. Michael Spence (1976), ‘Product Selection, Fixed Costs, and Monopolistic Competition’ B Social Costs of Monopoly 25. Arnold C. Harberger (1954), ‘Monopoly and Resource Allocation’ 26. Richard A. Posner (1975), ‘The Social Costs of Monopoly and Regulation’ 27. Gordon Tullock (1980), ‘Efficient Rent Seeking’ 28. Franklin M. Fisher (1985), ‘The Social Costs of Monopoly and Regulation: Posner Reconsidered’ PART V ASYMMETRIC AND IMPERFECT INFORMATION 29. George A. Akerlof (1970), ‘The Market for "Lemons": Quality Uncertainty and the Market Mechanism’ 30. Mark V. Pauly (1974), ‘Overinsurance and Public Provision of Insurance: The Roles of Moral Hazard and Adverse Selection’ 31. Charles A. Wilson (1979), ‘Equilibrium and Adverse Selection’ 32. Richard Arnott and Joseph Stiglitz (1990), ‘The Welfare Economics of Moral Hazard’ PART VI UNCERTAINTY 33. Frederick V. Waugh (1944), ‘Does the Consumer Benefit from Price Instability?’ 34. Walter Y. Oi (1961), ‘The Desirability of Price Instability Under Perfect Competition’ 35. Paul A. Samuelson (1972), ‘The Consumer Does Benefit From Feasible Price Stability’ 36. Stephen J. Turnovsky, Haim Shalit and Andrew Schmitz (1980), ‘Consumer’s Surplus, Price Instability, and Consumer Welfare’ Name Index Volume III Acknowledgements An introduction and preface by the editors to all three volumes appears in volume I PART I EXTERNALITIES AND PIGOUVIAN TAXATION 1. A.C. Pigou, M.A. (1952), excerpt from ‘Divergences Between Marginal Social Net Product and Marginal Private Net Product’ 2. J.E. Meade (1952), ‘External Economies and Diseconomies in Competitive Situation’ 3. R.H. Coase (1960), ‘The Problem of Social Cost’ 4. James M. Buchanan and Wm. Craig Stubblebine (1962), ‘Externality’ 5. William J. Baumol (1972), ‘On Taxation and the Control of Externalities’ 6. Martin L. Weitzman (1974), ‘Prices vs. Quantities’ 7. J.A. Ordover and R.D. Willig (1979), ‘The Role of Information in Designing Social Policy Towards Externalities’ 8. Dennis W. Carlton and Glenn C. Loury (1980), ‘The Limitations of Pigouvian Taxes as a Long-Run Remedy for Externalities’ PART II RAMSEY PRICING 9. F.P. Ramsey (1927), ‘A Contribution to the Theory of Taxation’ 10. M. Boiteux (1971), ‘On the Management of Public Monopolies Subject to Budgetary Constraints’ 11. William J. Baumol and David F. Bradford (1970), ‘Optimal Departures From Marginal Cost Pricing’ 12. Peter A. Diamond and James A. Mirrlees (1971), ‘Optimal Taxation and Public Production I: Production Efficiency’ 13. Peter A. Diamond and James A. Mirrlees (1971), ‘Optimal Taxation and Public Production II: Tax Rules’ PART III PREDATORY PRICING 14. Phillip Areeda and Donald F. Turner (1975), ‘Predatory Pricing and Related Practices Under Section 2 of the Sherman Act’ 15. Janusz A. Ordover and Robert D. Willig (1981), ‘An Economic Definition of Predation: Pricing and Product Innovation’ 16. William J. Baumol (1996), ‘Predation and the Logic of the Average Variable Cost Test’ PART IV REGULATION OF PRICES A Traditional Regulation 17. Harvey Averch and Leland L. Johnson (1962), ‘Behavior of the Firm Under Regulatory Constraint’ 18. Alfred E. Kahn (1989), ‘The Traditional Issues in the Pricing of Public Utility Services’ B Efficient Regulation, Stand-alone Cost Ceilings, and Price Caps 19. Harold Demsetz (1968), ‘Why Regulate Utilities?’ 20. Ingo Vogelsang and Jörg Finsinger (1979), ‘A Regulatory Adjustment Process for Optimal Pricing by Multiproduct Monopoly Firms’ 21. William J. Baumol (1982), ‘Productivity Incentive Clauses and Rate Adjustment for Inflation’ 22. Stephen C. Littlechild (1983), Regulation of British Telecommunications’ Profitability 23. William J. Baumol and Robert D. Willig (1986), ‘Contestability: Developments Since the Book’ 24. Jean-Jacques Laffont and Jean Tirole (1990), ‘The Regulation of Multiproduct Firms – Part I: Theory’ and ‘The Regulation of Multiproduct Firms – Part II: Applications to Competitive Environments and Policy Analysis’ C Pricing of Bottleneck Inputs 25. Robert D. Willig (1979), ‘The Theory of Network Access Pricing’ 26. William J. Baumol (1999), ‘Having Your Cake: How to Preserve Universal-Service Cross Subsidies While Facilitating Competitive Entry’ Name Index

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Book SynopsisEconomic theorists and finance practitioners alike turn to the seminal work of Wallace E. Oates for a systematic statement of the economic principles of fiscal federalism. In this book, Professor Oates provides an overview of fiscal federalism and analyses specific problems in a selection of his most important articles and papers. This collection includes many pieces which are not readily accessible.The papers in this volume constitute a basic reference for current discussion of the evolution both of national fiscal systems and of the fiscal structure of the European Community and other supranational organizations. The range of approaches and quality of argument will ensure that the book becomes a central reference point for the continued discussion of this important topic.Trade Review'Over the past 25 years Wallace Oates has been the principal intellectual leader in the field of fiscal federalism. All his contributions have had a significant impact upon the direction of research not only in the US but also world-wide. Anyone who is interested in teaching or researching topics within the area of fiscal federalism must begin with the works of Wallace Oates. This volume assembles Wallace Oates's principal papers, making them easily accessible. Whether they are read for the first time or for a second or third time they are stimulating and a joy to digest.' -- P.M. Jackson, University of Leicester, UKTable of ContentsContents: Part I: Fiscal Federalism: An Overview Part II: The Roles of Different Levels of Government Part III: Intergovernmental Grants and Revenue Sharing Part IV: The Provision of Local Public Goods Part V: Capitalization and Local Finance Part VI: Public Choice and Fiscal Federalism

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Book SynopsisAt a time when there is growing concern in many countries over the funding of expanding public sectors, this important new book brings together leading specialists in public finance to re-examine the economics of public sector growth. Several chapters document changes in the size of the public sector over recent decades for major OECD and Third World economies. Subsequent chapters then explore prominent explanations including public choice perspectives, bureaucracy models, relative price effects and Wagner's Law, and assess their contribution to current knowledge. The book also provides a number of new case studies of specific government activities - education, health and social security.Trade Review'. . . provides a useful and readable overview of developments in this area . . .' -- Peter Else, The Economic Journal'One leaves this volume with a better understanding of the multifaceted nature of public sector growth'. -- David Schap, The Southern Economic Journal'This important collection offers new insights into the growth of the public sector (especially changes in public expenditure) that has fascinated economists from the time of Adam Smith.' -- Abstracts of Public Administration, Development and Environment'Those working with the development of the public sector should certainly add the book to their library. . .' -- Martin Paldam, The World EconomyTable of ContentsThe public sector - definition and measurement issues, Norman Gemmell; recent trends in the size and growth of government in OECD countries, Peter Saunders; recent trends in the size and growth of government in developing countries, David Lim; the Peacock-Wiseman hypothesis, Magnus Henrekson; public expenditure and political progress, Alan Hamlin; the economics of bureaucracy, John G. Cullis and Philip R. Jones; Wagner's Law and Musgrave's Hypothesis, Norman Gemmell; modelling public expenditure growth - an integrated approach, Peter Jackson; government consumption - effects on productivity, growth and investment, Steve Dowrick; social security expenditure, John Creedy; health care expenditure, David K. Whynes; higher education expenditure, Paul Ryan; the political economy of public sector growth in the United States, Terry L. Anderson and Thomas Stratmann; the public sector in Australia - a quantitative analysis, Franz Hackl, Friedrich Schneider and Glenn Withers.

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Book SynopsisAngus Maddison has made a major contribution to our understanding of the comparative, historical and quantitative aspects of economic growth. This important collection of his work - including a number of original new essays - offers an authoritative analysis of the economic performance of nations. Drawing extensively on quantitative and qualitative evidence, Professor Maddison provides a clear view of why growth rates differ, why real income and productivity spreads are so wide, and why the pace of growth has varied over time. The first section features essays which provide an analytical framework for causal analysis of growth performance, this is followed by papers on investment and capital stock estimation, savings behaviour and measurement of economic performance levels. There are three essays on the roots of economic 'backwardness' and the final section deals with the effect of economic and social policy on the performance of advanced capitalist countries. These essays offer a depth of historical and interspatial perspective which is unrivalled. In addition to focusing on the influences of institutions, ideology and colonialism, Professor Maddison's analysis makes sophisticated use of the growth accounting approach. A specially-written autobiographical essay has also been included.Trade Review'. . . this book is highly recommended. It is thoroughly researched, well-written and covers interesting ground. The final, autobiographical chapter is well worth reading: Maddison has had a far more varied and at times dramatic career than most economists could ever hope for.'Table of ContentsContents: Introduction Part I: Analytic Frameworks for Explaining Economics Growth Part II: Investment, Capital Stock and Saving Part III: Measuring Levels of Performance Part IV: The Roots of Economic Backwardness Part V: The Role of Government Policy in the Performance of Advanced Capitalist Countries Part VI: Confessions of a Chiffrephile

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Book SynopsisThe Foundations of Public Finance presents the most important articles and papers tracing the development of public finance from the earliest tolls and customs duties levied on goods and land to more complex tax systems up to 1950.A signal contribution of this collection is that it allows the founding fathers to describe the development of different schools or doctrines in their own words. It is a fascinating story showing how economic analysis develops partly as a response to the need to gain a deeper insight into practical questions such as 'how progressive should a tax systems be?'.The volume is a companion to and complements Modern Public Finance edited by A.B. Atkinson (also in The International Library of Critical Writings in Economics series) which covers the recent developments in public finance from 1950.

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Book SynopsisThis major new reference collection reprints the most important published papers on the problems of war finance under varying constraints imposed by institutions, technology, geography, and strategy from the time of Alexander the Great to the Gulf War in 1991. Larry Neal has written a new comprehensive introduction to accompany the volumes.Table of ContentsVolume I War from antiquity to artillery: the wars of antiquity; the wars of the Middle Ages; the wars of Early Modern Europe. Volume II War in the 18th and 19th centuries: war of League of Augsburg and war of the Spanish Succession; Seven Years War; American War of Independence; the wars of the Modern Age - French Revolution and Napoleonic Wars, Crimean War. Volume III War in the 20th century: World War I; World War II; Korean War; the Cold War; the Gulf War.

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Book SynopsisPopulation ageing has been the subject of much discussion in recent years, often expressed in alarmist language that advocates evasive policy action to avert an imminent demographic crisis. This forward-looking book evaluates the debates surrounding population ageing and offers a more optimistic outlook on its effect on the economy.William Jackson initially considers general theoretical approaches to population ageing, particularly in relation to the rising dependency burden. He then goes on to examine traditional topics such as employment, productivity, pensions and social security, along with less traditional topics such as informal care, within the context of long-run structural changes. The author draws on an extensive range of economic literature and considers neoclassical arguments before analysing the issue from a non-neoclassical economic, social gerontological and sociological perspective. He maintains that conventional economic theory tends to overstate the effects of population ageing on the economy. Thus, he argues that while population ageing is a complex issue requiring some policy adjustments, it is a less acute problem than is suggested in popular and academic discussion.This book will be of great importance to scholars and students with an interest in population economics and the economics of social policy.Trade Review'. . . the new book by William Jackson brings a breath of fresh air . . . One of the main merits of this book is the breadth of issues and areas covered . . . The author draws on extensive literature, and presents a wide range of views, opinions and theories. This makes the book useful for both specialists, who follow closely the field, and for students and those just entering the discipline, who are in need of a text presenting a broad overview of the issues involved in population ageing . . . Overall, this is a thought-provoking book, which offers an alternative view on the economic and social implications of population ageing, and is therefore a valuable addition to the literature on the subject.'Table of ContentsContents: 1. Introduction 2. Ageing and Dependency 3. Population Ageing and Neoclassical Economics 4. Alternative views of Population Ageing 5. Productivity and Employment 6. Pensions and Retirement 7. Health Care and Social Services 8. Informal Economic Activity 9. Conclusion

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Book SynopsisPublic administration is under increasing pressure to become more efficient, better geared to the demands and opinions of citizens, more open to contacts with transnational bureaucracies, and more responsive to the ideas of elected policymakers. Bureaucracy in the Modern State offers a comparative analysis of how these challenges affect public administration in France, the United States, Germany, Japan, Britain, Sweden and the developing countries of the Third World. Specialist chapters written by acknowledged experts on the public policy of each country are brought together in a comparative framework in order to assess the impact of recent changes on the relationship between policy makers and the civil service, and the organizational challenges presented by the introduction of market-based ideology. Assessing public administration from a state-society perspective, the authors focus on four basic factors which they believe determine the role of the bureaucracy in modern societies: the configuration of the state, the relationship between policymakers and the bureaucracy, the internal organizational dynamics of the bureaucracy, and the relationship between the public bureaucracy and civil society. A special analysis of the relationship between domestic and transnational bureaucracies is also included, with particular reference made to the European Union. Addressing one of the key public policy issues of our time, this book will be widely used by teachers, students and researchers who will welcome the combination of in-depth studies of selected countries, from capitalist democracies to developing countries, with an authoritative comparative analysis held together by a distinct theoretical framework.Trade Review'Offering a broad geographical coverage and a comprehensive and well informed treatment of each national case, this book is an important contribution to the comparative understanding of the challenges facing public administration in the 1990s.' -- Wyn Grant, University of Warwick, UK'. . . is accessible, interesting and extremely useful to all social scientists with interests in this field.' -- Steve Molloy, Reviewing SociologyTable of ContentsComparative public administration - the state of the art, Jon Pierre; buureaucracy in a divided regime - the United States, B. Guy Peters; public administration at the crossroads - the end of the French specificity, Luc Rouban; public administration in Germany - political societal relations, Hans-Ulrich Derlien; "deprivileging" the UK civil service in the 1980s - dream or reality, Christopher Hood; Japan - divided bureaucrcy in a unified regime, Ellis S. Kraus; governing the welfare state - public administration, the state and society in Sweden, Jon Pierre; public administration in developing countries - Kenya and Tanzania in comparative comparative perspective, Goran Hyden; the Europeanization of the national bureaucracies?, Edward C. Page and Linda Wouters; conclusions - a framework of comparative public administration, Jon Pierre.

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Book SynopsisHousing is an important commodity in the national accounts of all countries and has generated a high quality specialised literature. The papers in this scholarly collection span a thirty-five year period from 1960 when the field of housing economics was just beginning to attract attention. Topics covered include housing and urban spatial structures, housing supply, the analysis of housing demand and empirical and theoretical studies of housing quality and prices. One of the features which complicates economic analysis of housing is the severe regulation of the housing and land markets; the implications of such controls, including rent control, local taxes and housing subsidies are investigated, as are the effects of property taxes and the provision of public services on housing choice. The articles in the final section cover recent research on the linkage between housing markets and financial markets, a subject which is currently of intense interest to economists in this field.Trade Review'These two volumes contain an outstanding collection of the most notable academic papers on housing and related urban issues. . . . a treasure trove. . . . it is a collection that I am destined to spend many hours pondering. Quigley's expertise and evenhandedness provides insurance that they will be hours well spent.' -- Frank Braconi, Citiges Housing of Planning Council of New York 'The collection covers the main topics that one would expect to find in any textbook on housing economics. . .'– Christine Whitehead, Housing StudiesTable of ContentsContents: Volume I: Introduction Part I: Housing and Urban Spacial Structure Part II: Housing Supply and Filtering Part III: Housing Demand Part IV: Housing Prices: Measurement and Interpretation Part V: Hedonic Markets and Housing Choice • Volume II: Part I: Tenure Choice and Homeownership Part II: Regulation in the Housing and Land Markets Part III: Housing Subsidy Policy Part IV: Housing Market Discrimination Part V: Local Taxes, Amenities, and Property Values Part VI: Risk, Mortgage, and Financial Markets

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Book SynopsisThis two volume set includes the most influential writings on international debt. In addition to essential early material, the editors have assembled the key contributions written during the unfolding of the modern international debt drama from the early 1970s. An introductory chapter by the editors explains the context and order in which the writings are presented. In particular, the individual contributions are grouped under sequential headings which are intended to draw out key themes and relationships between the concerns of the original authors. This collection reflects clearly the interaction between the evolution of the international policy debate and the development of major analytical insights on the debt problem and its resolution.Trade Review'Bird and Snowden have provided a useful service in pulling together a good selection of material which would otherwise be hard to find. These volumes will be particularly valuable to students and teachers of international economics.' -- Andrew Kilpatrick, The Economic JournalTable of ContentsPART I MOTIVES FOR BORROWING AND DEBT SERVICE CAPACITY 1. J. Eaton and M. Gersovitz (1981), ‘Private Lending with Potential Default: An Analytical Framework’ 2. Jeffrey Sachs (1984), ‘Theoretical Issues in International Borrowing’ 3. Jonathan Eaton and Mark Gersovitz (19980), ‘LDC Participation in International Financial Markets: Debt and Reserves’ PART II LENDING RISKS; DEFAULT PROBABILITIES, CREDIT RATIONING AND BANK BEHAVIOUR 4. Dwight M. Jaffee and Thomas Russell(1976), ‘Imperfect Information, Uncertainty, and Credit Rationing’ 5. Joseph E. Stiglitz and Andrew Weiss (1981), ‘Credit Rationing in Markets with Imperfect Information’ 6. Jonathan Eaton and Mark Gersovitz (1981), ‘Debt with Potential Repudiation: Theoretical and Empirical Analysis’ 7. Kenneth M. Kletzer (1984), ‘Asymmetries of Information and LDC Borrowing with Sovereign Risk’ 8. Gershon Feder and Richard E. Just (1977), ‘A Study of Debt Servicing Capacity Applying Logit Analysis’ 9. Sebastian Edwards (1984), ‘LDC Foreign Borrowing and Default Risk: An Empirical Investigation, 1976-1980’ PART III BORROWER AND LENDER MISCALCULATIONS IN THE 1970S AND 1980S 10. Andrew Berg and Jeffrey Sachs (1988), ‘The Debt Crisis: Structural Explanations of Country Performance’ 11. Rudiger Dornbusch (1985), ‘External Debt, Budget Deficits, and Disequilibrium Exchange Rates’ 12. Carlos F. Dinaz-Alejandro (1984), ‘Latin American Debt: I Don’t Think We Are in Kansas Anymore’ 13. Richard N. Cooper and Jeffrey D. Sachs (1985), ‘Borrowing Myopia in International Banking’ VOLUME II PART I CRISIS: RE-EMERGENCE OF THE TRANSFER PROBLEM AND THE 1930S PARALLEL 1. J. M. Keynes (1929), ‘The German Transfer Problem’ 2. Evsey D. Domar (1957), ‘The “Burden of the Debt” and the National Income’ 3. Rudiger Dornbusch (1985), ‘Policy and Performance Links between LDC Debtors and Industrial Nations’ 4. William R. Cline (1983), ‘International Debt and the Stability of the World Economy’ 5. Barry Eichengreen and Richard Portes (1986), ‘Debt and Default in the 1930s: Causes and Consequences’ PART II STRATEGIC BEHAVIOUR BY BORROWERS AND LENDERS 6. Paul Krugman (1985), ‘International Debt Strategies in an Uncertain World’ 7. Jeremy Bulow and Kenneth Rogoff (1989), ‘A Constant Recontracting Model of Sovereign Debt’ 8. Jeffrey Sachs and Harry Huizinga (1987), ‘U. S. Commercial Banks and the Developing-Country Debt Crisis’ PART III DEBT RESCHEDULING, BUY-BACKS, RELIEF AND REDUCTION 9. W. Max Corden (1989), ‘Debt Relief and Adjustment Incentives’ 10. Paul Krugman (1988), ‘Financing vs. Forgiving a Debt Overhang’ 11. Paul R. Krugman (1989), ‘Market-Based Debt-Reduction Schemes’ 12. Graham Bird (1987), ‘Debt Swapping in Developing Countries: A Preliminary Investigation’ 13. Michael P. Dooley (1988), ‘Buy-Backs and Market Valuation of External Debt’ 14. Michael P. Dooley (1988), ‘Self-Financed Buy-Backs and Asset Exchanges’ 15. Jeremy Bulow and Kenneth Rogoff (1988), ‘The Buyback Boondoggle’ PART IV SOLUTIONS: COMPREHENSIVE SCHEMES AND APPROPRIATE PRIVATE FINANCE 16. W. Max Corden (1988), ‘An International Debt Facility?’ 17. Donald R. Lessard (1989), ‘Beyond the Debt Crisis: Alternative Forms of Financing Growth’

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Book SynopsisThe Public Choice Approach to Politics presents some of Dennis Mueller's most important contributions to public choice and public economics. Employing the contractarian-constitutional methodology of public choice, Professor Mueller examines the properties of several voting methods and representation systems as well as questions of equity and justice. Constitutional issues, such as the nature of constitutional rights and the elements for an ideal constitution, are also addressed. The essays in this collection include discussions of Pareto optimal redistribution, the redistribution over time of the benefits from collective action, Rawls's social contract, the social discount rate, and the relationship between contractarianism and different concepts of morality. The volume also includes chapters on the methodology of public choice, the work of James Buchanan and the Virginia School and a survey of the public choice literature.This book brings together in one place Dennis Mueller's key articles and papers on public choice, making it of interest to all economists and political scientists working in this area, as well as to sociologists, philosophers and lawyers.Trade Review'Dennis Mueller has played a significant part in the development of public choice, and this volume pays a fitting tribute to that contribution.' -- Alan Hamlin, The Economic Journal

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Book SynopsisRecent Developments in the Economics of Education collects together the most important contributions in this rapidly developing field. Themes covered in this book include: efficiency and equity, externalities and the role of the government in providing education, the relationship between the markets for labour and education, cost functions in the education sector, the market for educators, and the economics of school choice. This volume complements an earlier volume in the series, The Economic Value of Education, edited by Mark Blaug.Trade Review'. . . a useful reference volume in which a good proportion of the more important and durable articles in the economics of education of the past 10 years will be available to students in a readily accessible form.'Table of ContentsPART I ISSUES OF EFFICIENCY AND EQUITY 1. Kenneth J. Arrow (1993), ‘Excellence and Equity in Higher Education’ 2. Henry M. Levin (1990), ‘The Economics of Justice in Education’ 3. Evert van Imhoff (1989), ‘Optimal Investment in Human Capital Under Conditions of Nonstable Population’ PART II EXTERNALITIES AND THE ROLE OF GOVERNMENT SUBSIDIES 4. David A. Kodde and Josef M.M. Ritzen (1985), ‘The Demand for Education Under Capital Market Imperfections’ 5. George E. Johnson (1984), ‘Subsidies for Higher Education’ 6. John M. Hartwick (1992), ‘Endogenous Growth with Public Education’ 7. John Creedy and Patrick François (1992), ‘Higher Education and Progressive Taxation: Equity, Efficiency and Majority Voting’ 8. Kjell Erik Lommerud (1989), ‘Educational Subsidies When Relative Income Matters’ 9. Martin Weale (1992), ‘Externalities from Education’ 10. Adam B. Jaffe (1989), ‘Real Effects of Academic Research’ 11. Robert H. Haveman and Barbara L. Wolfe (1984), ‘Schooling and Economic Well-Being: The Role of Nonmarket Effects’ 12. Edward T. Gullason (1989), ‘The Consumption Value of Schooling: An Empirical Estimate of One Aspect’ 13. Michael S. McPherson and Morton Owen Schapiro (1991), ‘Does Student Aid Affect College Enrollment? New Evidence on a Persistent Controversy’ 14. Elchanan Cohn and Sherrie L.W. Rhine (1989), ‘Foregone Earnings of College Students in the U.S. , 1970 and 1979: A Microanalytic Approach’ PART III ECONOMICS OF SCHOOL CHOICE 15. Edwin G. West (1991), ‘Public Schools and Excess Burdens’ 16. John E. Chubb and Terry M. Moe (1988), ‘Politics, Markets, and the Organization of Schools’ 17. Henry M. Levin (1991), ‘The Economics of Educational Choice’ PART IV THE COSTS OF PROVIDING EDUCATIONAL SERVICES 18. Paul T. Brinkman and Larry L. Leslie (1986), ‘Economies of Scale in Higher Education: Sixty Years of Research’ 19. Mun C. Tsang (1988), ‘Cost Analysis for Educational Policymaking: A Review of Cost Studies in Education in Developing Countries’ 20. Emmanuel Jimenez (1986), ‘The Structure of Educational Costs: Multiproduct Cost Functions for Primary and Secondary Schools in Latin America’ 21. Elchanan Cohn, Sherrie L.W. Rhine and Maria C. Santos (1989), ‘Institutions of Higher Education as Multi-Product Firms: Economies of Scale and Scope’ 22. Hans de Groot, Walter W. McMahon and J. Fredericks Volkwein (1991), ‘The Cost Structure of American Research Universities’ 23. Partha Dasgupta and Eric Maskin (1987), ‘The Simple Economics of Research Portfolios’ PART V LINKS BETWEEN EDUCATION AND THE LABOUR MARKET 24. Walter W. McMahon (1991), ‘Relative Returns to Human and Physical Capital in the U.S. and Efficient Investment Strategies’ 25. Kevin M. Murphy and Finis Welch (1992), ‘The Structure of Wages’ 26. Nachum Sicherman (1991), ‘“Overeducation” in the Labor Market’ 27. Mun C. Tsang, Russell W. Rumberger and Henry M. Levin (1991), ‘The Impact of Surplus Schooling on Worker Productivity’ 28. Keith Whitfield and R.A. Wilson (1991), ‘Staying on in Full-Time Education: The Education Participation Rate of 16-year-olds’ 29. David Card and Alan B. Krueger (1992), ‘Does School Quality Matter? Returns to Education and the Characteristics of Public Schools in the United States’ 30. John H. Bishop (1989), ‘Is the Test Score Decline Responsible for the Productivity Growth Decline?’ PART VI THE MARKET FOR EDUCATORS 31. Peter J. Dolton (1990), ‘The Economics of UK Teacher Supply: The Graduate’s Decision’ 32. Richard J. Murnane and Randall J. Olsen (1990), ‘The Effects of Salaries and Opportunity Costs on Length of Stay in Teaching: Evidence from North Carolina’ 33. Ronald Ehrenberg, Hirschel Kasper and Daniel Rees (1991), ‘Faculty Turnover at American Colleges and Universities: Analyses of AAUP Data’ 34. H. Lorne Carmichael (1988), ‘Incentives in Academics: Why Is There Tenure?’

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Book SynopsisThe election of the Clinton administration in the United States and the debate in the European Community about the consequences of the industrial policy clause in the Maastricht treaty have put industrial policy back on the academic and political agenda again. This volume brings together the key articles on industrial policy, ranging from general theoretical perspectives and overviews of the literature to studies of the experience of particular countries, including Japan and the newly industrialising countries of East Asia. Four articles are concerned with the industrial programmes of the European Community. This is a comprehensive and authoritative compilation of work on a theme of interest to economists and political scientists.Table of ContentsContents: Acknowledgements Introduction Part I: Overviews and Theoretical Perspectives 1. S. Wilks (1986), ‘Government-Industry Relations: A Review Article’ 2. M. Wright (1988), ‘Policy Community, Policy Network and Comparative Industrial Policies’ 3. M.M. Atkinson and W.D. Coleman (1989), ‘Strong States and Weak States; Sectoral Policy Networks in Advanced Capitalist Economies’ 4. J.A. Hart (1992), ‘The Effects of State-Societal Arrangements on International Competitiveness; Steel, Motor Vehicles and Semiconductors in the United States, Japan and Western Europe’ Part II Industrial Policies in European Countries 5. Nick Crafts (1991), ‘Reversing Relative Economic Decline? The 1980s in Historical Perspective’ 6. C. Deubner (1984), ‘Change and Internationalization in Industry: Toward a Sectoral Interpretation of West German Politics’ 7. S. Wilks (1984), ‘The Practice of the Theory of Industrial Adaptation in Britain and West Germany’ 8. K. Morgan and D. Webber (1986), ‘Divergent Paths: Political Strategies for Telecommunications in Britain, France and West Germany’ Part III The United States 9. W.E. Hudson (1985), ‘The Feasibility of a Comprehensive U.S. Industrial Policy’ 10. R.D. Norton (1986), ‘Industrial Policy and American Renewal’ 11. P. Eisinger (1990), ‘Do the American States Do Industrial Policy?’ 12. R.B. Reich (1990), ‘Who Is Us?’ Part IV Japan And The East Asian NICs 13. E. S. Krauss (1992), ‘Political Economy: Policymaking and Industrial Policy in Japan’ 14. R. Boyd (1989), ‘The Political Mechanics of Consensus in the Industrial Policy Process: The Shipbuilding Industry in the Face of Crisis, 1973–1978’ 15. R. Sarathy (1989), ‘The Interplay of Industrial Policy and International Strategy: Japan’s Machine Tool Industry’ 16. H. Kitschelt (1991), ‘Industrial Governance Structures, Innovation Strategies, and the Case of Japan: Sectoral or Cross-National Comparative Analysis?’ 17. Y.-H. Chu (1989), ‘State Structure and Economic Adjustment of the East Asian Newly Industrializing Countries’ 18. R. Wade (1992), ‘Review Article: East Asia’s Economic Success: Conflicting Perspective, Partial Insights, Shaky Evidence’ Part V The European Community 19. P.A. Geroski (1989), ‘European Industrial Policy and Industrial Policy in Europe’ 20. M. Sharpe (1987), ‘Europe: Collaboration in the High Technology Sectors’ 21. J. Peterson (1991), ‘Technology Policy in Europe: Explaining the Framework Programme and Eureka in Theory and Practice’ 22. W. Sandholtz (1992), ‘ESPRIT and the Politics of International Collective Action’ Name Index

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Book SynopsisThis volume provides the most important essays and papers on urban and regional policy, making it a convenient summary of the key theories, approaches and research results.The study of sub-national politics is no longer mainly concerned with the urban political decision-making process and now focuses on the political, economic and social preconditions for urban policy. As the articles and papers reprinted in this volume demonstrate, local and regional politics are increasingly important features of most Western democracies. Economic and political life are more and more determined by changes occurring at the local, regional and global levels rather than at the national level. This volume seeks to cover the most important elements of research on local government with a particular emphasis on different approaches and theories of urban political economy. The volume covers, in turn, the study of urban politics and government, theories of local government, central-local relationships and local autonomy, local politics, the political economy of local government and regional policy.Table of ContentsContents: Acknowledgements Introduction Part I: Urban Policy A. Theories of Local Government 1. E. Page (1982), ‘The Value of Local Autonomy’ 2. L.J. Sharpe (1970), ‘Theories and Values of Local Government’ 3. M. Goldsmith (1992), ‘Local Government’ 4. R.A. Dahl (1967), ‘The City in the Future of Democracy’ 5. M. Dear (1981), ‘A Theory of the Local State’ 6. A. Kirby (1989),‘State, Local State, Context, and Spatiality: A Reappraisal of State Theory’ 7. D. Ashford (1975), ‘Theories of Local Government: Some Comparative Considerations’ B. Central–Local Relationships and Local Autonomy 8. L.J. Sharpe (1988), ‘The Growth and Decentralisation of the Modern Democratic State’ 9. E.C. Page and M.J. Goldsmith (1987), ‘Centre and Locality: Explaining Crossnational Variation’. 10. D.S. King (1987), ‘The State, Capital and Urban Change in Britain’ 11. R. Warren (1990), ’National Urban Policy and the Local State: Paradoxes of Meaning, Action, and Consequences’ 12. R. Hambleton (1989), ‘Urban Government under Thatcher and Reagan’ C. Local Politics 13. P. Bachrach and M.S. Baratz (1962), ‘Two Faces of Power’ 14. K. Newton (1982), ‘Is Small Really so Beautiful? Is Big Really so Ugly? Size, Effectiveness, and Democracy in Local Government’ 15. C.N. Stone (1980), ‘Systemic Power in Community Decision Making: A Restatement of Stratification Theory’ 16. K. Newton and L.J. Sharpe (1977), ‘Local Outputs Research: Some Reflections and Proposals’ D. The Political Economy of Local Government: The Politics of Place 17. C.M. Tiebout (1956), ‘A Pure Theory of Local Expenditure’ 18. P.E. Peterson (1979), ‘A Unitary Models of Local Taxation and Expenditure Policies in the United States’ 19. H. Molotch (1976), ‘The City as a Growth Machine: Toward a Political Economy of Place’ 20. G. Stoker (1992), ‘The Comparative Study of Urban Regimes’. 21. T. Swanstrom (1988), ‘Semisovereign Cities: The Politics of Urban Development’ 22. P. Kantor (1987), ‘The Dependent City: The Changing Political Economy of Urban Economic Development in the United States’ 23. H. Molotch (1990), ‘Urban Deals in Comparative Perspective’ Part II: Regional Policy 24. R.D.P. Smith (1968), ‘The Changing Urban Hierarchy’ 25. M. Keating (1988), ‘Does Regional Government Work? The Experience of Italy, France and Spain’ 26. D. Massey (1979), ‘In What Sense a Regional Problem?’ 27. M. Chisholm (1985), ‘De-Industrialisation and British Regional Policy’ 28. J.N. Marshall (1985), ’Business Services, the Regions and Regional Policy’ 29. C.F. Sabel (1989), ‘Flexible Specialisation and the Re-emergence of Regional Economies’ 30. A.R. Markusen and V. Carlson (1989), ’Deindustrialization in the American Midwest: Causes and Responses’ Name Index

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Book SynopsisThe debate regarding the increased funding of higher education has focused on specific issues - such as whether higher education should be financed through general taxation and the implications of collecting fees later in life through the use of a tax surcharge - while largely ignoring the important economic interdependencies which affect them.In The Economics of Higher Education, John Creedy explores the economic foundations of the debate and focuses attention on the process of government decision-making including the precise way that these decisions are affected by the possible external effects of higher education. This book addresses the key issues in the debate using a fully specified model which allows for dispersion of abilities, the individual’s decision to invest in higher education and the government’s choice of higher education grant, along with the government’s budget constraint. This model is also used to consider the effects of alternative tax and grant systems on the distribution of lifetime income within a cohort of individuals, and is extended to allow for the general equilibrium effects of other social transfers to the low paid, along with means testing of grants.The non-technical introduction discusses the author’s approach, the framework of analysis and the conclusions which he has reached. As a rigorous analytical contribution to a major public policy debate, this book will be welcomed by policymakers and educationalists, as well as by teachers and researchers in the field of public economics.Trade Review’John Creedy provides a highly rigorous technical analysis. . .’Table of ContentsContents: 1. Introduction 2. A General Framework of Analysis 3. Extensions to the Model 4. Majority Voting Over Progressive Taxation 5. Higher Education and Progressive Taxation 6. Further Extensions of the Model 7. Higher Education and Inequality 8. The Use of a Tax Surcharge 9. Conclusion References Index

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Book SynopsisThis three-volume set presents over 100 of the most influential articles in defence economics, which have been selected for their enduring value and importance and for their contribution to an understanding of the field.Topics covered in volume I include definitions of the field of defence economics, an examination of the demand side of defence economics, including the demand for military expenditures and the study of alliances, and an exploration of the impacts of defence spending on growth and development. Volume II examines the supply side of the subject, and covers the military production function, military personnel and weapon procurement. The supply side is further addressed in Volume III, which covers the defence industrial base, learning curves, costs, pricing and profits, industrial policies and the arms trade. This volume also discusses disarmament, conversion, peace and public policy and concludes with a section on non-conventional conflicts such as terrorism, insurrections and revolutions.Table of ContentsContents: Volume I Acknowledgements Introduction Keith Hartley and Todd Sandler PART I INTRODUCTION: DEFENCE ECONOMICS – AN OVERVIEW 1. Michael D. Intriligator (1990), ‘On the Nature and Scope of Defence Economics’ 2. Judith Reppy (1991), ‘On the Nature and Scope of Defence Economics: A Comment’ 3. Michael D. Intriligator (1991), ‘On the Nature and Scope of Defence Economics: A Reply to Judith Reppy’s Comment’ 4. M.W. Jones-Lee (1990), ‘Defence Expenditure and the Economics of Safety’ 5. W. Grigor McClelland (1990), ‘Defence Expenditure and the Economics of Safety: A Comment’ 6. M.W. Jones-Lee (1990), ‘Defence Expenditure and the Economics of Safety: Reply’ 7. Walter Isard (1994), ‘Peace Economics: A Beginning at Definition’ PART II DEMAND, ARMS RACES AND ALLIANCES A The Demand for Military Expenditure 8. Leonard Dudley and Claude Montmarquette (1981), ‘The Demand for Military Expenditures: An International Comparison’ 9. James C. Murdoch and Todd Sandler (1984), ‘Complementarity, Free Riding, and the Military Expenditures of NATO Allies’ 10. R.P. Smith (1989), ‘Models of Military Expenditure’ 11. Minoru Okamura (1991), ‘Estimating the Impact of the Soviet Union’s Threat on the United States–Japan Alliance: A Demand System Approach’ B Arms Races 12. Lewis F. Richardson (1953), ‘The Submissiveness of Nations’ 13. Anatol Rapoport (1957), ‘Lewis F. Richardson’s Mathematical Theory of War’ 14. Stephen A. Richardson (1957), ‘Lewis Fry Richardson (1881–1953): A Personal Biography’ 15. Robert P. Abelson (1963), ‘A “Derivation” of Richardson’s Equations’ 16. Michael D. Intriligator (1975), ‘Strategic Considerations in the Richardson Model of Arms Races’ 17. Martin McGuire (1977), ‘A Quantitative Study of the Strategic Arms Race in the Missile Age’ 18. Michael D. Intriligator and Dagobert L. Brito (1984), ‘Can Arms Races Lead to the Outbreak of War?’ 19. Thomas F. Mayer (1986), ‘Arms Races and War Initiation: Some Alternatives to the Intriligator-Brito Model’ 20. J.D. Byers and D.A. Peel (1989), ‘The Determinants of Arms Expenditures of NATO and the Warsaw Pact: Some Further Evidence’ 21. Charles H. Anderton (1990), ‘Teaching Arms-Race Concepts in Intermediate Microeconomics’ C Alliances 22. Mancur Olson, Jr. and Richard Zeckhauser (1966), ‘An Economic Theory of Alliances’ 23. Jacques van Ypersele de Strihou (1967), ‘Sharing the Defense Burden Among Western Allies’ 24. Harvey Starr (1974), ‘A Collective Goods Analysis of the Warsaw Pact after Czechoslovakia’ 25. Todd Sandler (1977), ‘Impurity of Defense: An Application to the Economics of Alliances’ 26. Todd Sandler and John F. Forbes (1980), ‘Burden Sharing, Strategy, and the Design of NATO’ 27. Martin C. McGuire (1982), ‘U.S. Assistance, Israeli Allocation, and the Arms Race in the Middle East’ 28. Mark A. Boyer (1989), ‘Trading Public Goods in the Western Alliance System’ PART III IMPACTS OF MILITARY EXPENDITURE: GROWTH, DEVELOPMENT AND MILITARY EXPENDITURE 29. Emile Benoit (1978), ‘Growth and Defense in Developing Countries’ 30. Ronald P. Smith (1980), ‘Military Expenditure and Investment in OECD Countries, 1954–1973’ 31. Gershon Feder (1982), ‘On Exports and Economic Growth’ 32. Ådne Cappelen, Nils Petter Gleditsch and Olav Bjerkholt (1984), ‘Military Spending and Economic Growth in the OECD Countries’ 33. Rati Ram (1986), ‘Government Size and Economic Growth: A New Framework and Some Evidence from Cross-Section and Time-Series Data’ 34. W. Robert J. Alexander (1990), ‘The Impact of Defence Spending on Economic Growth: A Multi-Sectoral Approach to Defence Spending and Economic Growth with Evidence from Developed Economies’ 35. Elizabeth S. Macnair, James C. Murdoch, Chung-Ron Pi and Todd Sandler (1995), ‘Growth and Defense: Pooled Estimates for the NATO Alliance, 1951–1988’ Name Index Volume II Acknowledgements An introduction by the editors to all three volumes appears in volume I PART I MILITARY PRODUCTION FUNCTION: MILITARY PERSONNEL 1. Franklin M. Fisher and Anton S. Morton (1967), ‘Reenlistments in the U.S. Navy: A Cost Effectiveness Study’ 2. W. Lee Hansen and Burton A. Weisbrod (1967), ‘Economics of the Military Draft’ 3. Walter Y. Oi (1967), ‘The Economic Cost of the Draft’ 4. Anthony C. Fisher (1969), ‘The Cost of the Draft and the Cost of Ending the Draft’ 5. B.F. Kiker and Jon Birkeli (1972), ‘Human Capital Losses Resulting from U.S. Casualties of the War in Vietnam’ 6. Thomas W. Epps (1973), ‘An Econometric Analysis of the Effectiveness of the U.S. Army’s 1971 Paid Advertising Campaign’ 7. Colin Ash, Bernard Udis and Robert F. McNown (1983), ‘Enlistments in the All-Volunteer Force: A Military Personnel Supply Model and Its Forecasts’ 8. Matthew S. Goldberg and John T. Warner (1987), ‘Military Experience, Civilian Experience, and the Earnings of Veterans’ 9. C.A. Knox Lovell, Richard C. Morey and Lisa L. Wood (1991), ‘Cost-Efficient Military Recruiting: An Econometric Approach’ 10. François Melese, James Blandin and Phillip Fanchon (1992), ‘Benefits and Pay: The Economics of Military Compensation’ 11. Richard Buddin (1993), ‘Recruiting for Joint Active/Reserve Tours’ PART II PROCUREMENT: DEMAND FOR EQUIPMENT 12. Keith Hartley (1969), ‘Estimating Military Aircraft Production Outlays: The British Experience’ 13. J.J. McCall (1970), ‘The Simple Economics of Incentive Contracting’ 14. Michael E. Canes (1975), ‘The Simple Economics of Incentive Contracting: Note’ 15. J. Michael Cummins (1977), ‘Incentive Contracting for National Defense: A Problem of Optimal Risk Sharing’ 16. Jean-Jacques Laffont (1987), ‘Toward a Normative Theory of Incentive Contracts Between Government and Private Firms’ 17. Jean-Jacques Laffont and Jean Tirole (1986), ‘Using Cost Observation to Regulate Firms’ 18. R. Preston McAfee and John McMillan (1986), ‘Bidding for Contracts: A Principal-Agent Analysis’ 19. Rafael Rob (1986), ‘The Design of Procurement Contracts’ 20. David P. Baron (1988), ‘Procurement Contracting: Efficiency, Renegotiation and Performance Evaluation’ 21. Michael H. Riordan and David E.M. Sappington (1989), ‘Second Sourcing’ 22. William P. Rogerson (1990), ‘Quality vs. Quantity in Military Procurement’ 23. F.R. Lichtenberg (1990), ‘US Government Subsidies to Private Military R&D Investment: The Defense Department’s Independent R&D Policy’ 24. Anthony G. Bower and Kent Osband (1991), ‘When More is Less: Defense Profit Policy in a Competitive Environment’ 25. Edward S. Cavin (1991), ‘An Optimal Control Model of New Weapon System Development’ 26. Tyler Cowen and Dwight Lee (1992), ‘The Usefulness of Inefficient Procurement’ 27. David L.I. Kirkpatrick (1995), ‘The Rising Unit Cost of Defence Equipment – The Reasons and the Results’ Name Index Volume III Acknowledgements An introduction by the editors to all three volumes appears in volume I PART I SUPPLY OF EQUIPMENT A Defence Industrial Base 1. Walter Adams and William James Adams (1972), ‘The Military-Industrial Complex: A Market Structure Analysis’ 2. Seymour Melman (1972), ‘Ten Propositions on the War Economy’ 3. Keith Hartley, Farooq Hussain and Ron Smith (1987), ‘The UK Defence Industrial Base’ 4. R.P. Smith (1990), ‘Defence Procurement and Industrial Structure in the U.K.’ 5. William E. Kovacic and Dennis E. Smallwood (1994), ‘Competition Policy, Rivalries, and Defense Industry Consolidation’ B Learning Curves 6. T.P. Wright (1936), ‘Factors Affecting the Cost of Airplanes’ 7. Werner Z. Hirsch (1956), ‘Firm Progress Ratios’ 8. Armen Alchian (1963), ‘Reliability of Progress Curves in Airframe Production’ 9. Nicholas Baloff (1966), ‘The Learning Curve – Some Controversial Issues’ C Costs, Pricing and Profits 10. S.G. Sturmey (1964), ‘Cost Curves and Pricing in Aircraft Production’ 11. George J. Stigler and Claire Friedland (1971), ‘Profits of Defense Contractors’ 12. Keith Hartley and William J. Corcoran (1975), ‘Short-Run Employment Functions and Defence Contracts in the UK Aircraft Industry’ 13. Ruben Trevino and Robert Higgs (1992), ‘Profits of US Defense Contractors’ D Industrial Policies 14. Bernard Udis and Keith E. Maskus (1991), ‘Offsets as Industrial Policy: Lessons from Aerospace’ 15. Theodore H. Moran and David C. Mowery (1991), ‘Aerospace’ 16. Keith Hartley and Stephen Martin (1993), ‘Evaluating Collaborative Programmes’ 17. Peter Hall and Stefan Markowski (1994), ‘On the Normality and Abnormality of Offsets Obligations’ E Arms Trade 18. Ron Smith, Anthony Humm and Jacques Fontanel (1985), ‘The Economics of Exporting Arms’ 19. Frederic S. Pearson (1989), ‘The Correlates of Arms Importation’ 20. Paul Levine, Somnath Sen and Ron Smith (1994), ‘A Model of the International Arms Market’ PART II DISARMAMENT, CONVERSION, PEACE AND PUBLIC POLICY A Disarmament 21. Dagobert L. Brito and Michael D. Intriligator (1981), ‘Strategic Arms Limitation Treaties and Innovations in Weapons Technology’ 22. Robert S. McNamara (1992), ‘The Post-Cold War World: Implications for Military Expenditure in the Developing Countries’ 23. Terry Barker, Paul Dunne and Ron Smith (1991), ‘Measuring the Peace Dividend in the United Kingdom’ 24. Michael D. Intriligator (1992), ‘The Economics of Disarmament as an Investment Process’ 25. Bruce Russett and Joel Slemrod (1993), ‘Diminished Expectations of Nuclear War and Increased Personal Savings: Evidence from Individual Survey Data’ 26. Keith Hartley (1993), ‘The Economics of Disarmament: Some Guidelines for Public Policy’ 27. Benedict Clements, Sanjeev Gupta and Jerald Schiff (1997), ‘What Happened to the Peace Dividend?’ B Conversion 28. Mark C. Berger and Barry T. Hirsch (1983), ‘The Civilian Earnings Experience of Vietnam-Era Veterans’ 29. Susan Willett (1990), ‘Conversion Policy in the UK’ 30. Euguene Bougrov (1994), ‘Conversion in Transitional Economies: The Case of the Former USSR and Russia’ 31. Nick Hooper and Barbara Butler (1996), ‘A Case Study of Redundant Defence Workers’ 32. Nick Hooper and Nick Cox (1996), ‘The European Union KONVER Programme’ PART III NON-CONVENTIONAL CONFLICTS: TERRORISM, INSURRECTIONS AND REVOLUTIONS 33. William M. Landes (1978), ‘An Economic Study of U.S. Aircraft Hijacking, 1961–1976’ 34. Richard M. Kirk (1983), ‘Political Terrorism and the Size of Government: A Positive Institutional Analysis of Violent Political Activity’ 35. Scott E. Atkinson, Todd Sandler and John Tschirhart (1987), ‘Terrorism in a Bargaining Framework’ 36. Edward F. Mickolus (1989), ‘What Constitutes State Support to Terrorists?’ 37. Timur Kuran (1991), ‘The East European Revolution of 1989: Is It Surprising that We Were Surprised?’ 38. Herschel I. Grossman (1991), ‘A General Equilibrium Model of Insurrections’ 39. Walter Enders and Todd Sandler (1993), ‘The Effectiveness of Antiterrorism Policies: A Vector-Autoregression-Intervention Analysis’ 40. Todd Sandler (1997), ‘The Future Challenges of NATO: An Economic Viewpoint’ Name Index

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Book SynopsisFor governments to be successful in achieving their objectives, they need to select the correct policy instruments. This volume addresses the role of policy instruments in achieving policy objectives.Policy Evaluation provides a systematic assessment of the impact that public policy evaluations have on the governance of democratic societies. This book emphasises the impacts of policy evaluations on the formulation, implementation and accountability functions of governments. At all three phases of the policy cycle, there is a need for coherent and systematic evaluation. This book demonstrates how such evaluations can be conducted and the opportunities for their subsequent utilization.Trade Review'This volume provides very comprehensive coverage of the subject.' -- International Review of Administrative SciencesTable of ContentsContents: Acknowledgements Introduction Part I: Policy Evaluation and the Policy Arena A. Theoretical Perspectives 1. E. Albaek (1989–90), ‘Policy Evaluation: Design and Utilization’ 2. F.L. Leeuw (1991), ‘Policy Theories, Knowledge Utilization, and Evaluation’ 3. D.J. Palumbo and M.A. Hallett (1993), ‘Conflict Versus Consensus Models in Policy Evaluation and Implementation’ B. Policy Evaluation and Policy Instruments 4. M. Howlett (1991), ‘Policy Instruments, Policy Styles, and Policy Implementation: National Approaches to Theories of Instrument Choice’ 5. M. Wrightson and T. Conlan (1989), ‘Targeting Aid to the Poor: What Have We Learned About Allocating Intergovernmental Grants?’ 6. B. Abel Smith (1992), ‘Cost Containment and New Priorities in the European Community’ C. Policy Evaluation and Utilization 7. A. Gray and B. Jenkins (1989–90), ‘Policy Evaluation in a Time of Fiscal Stress: Some Reflections from British Experience’ 8. M.L. Bemelmans-Videc (1989–90), ’Dutch Experience in the Utilization of Evaluation Research: The Procedure of Reconsideration’ 9. D.H. Greenberg and M.B. Mandell (1991), ‘Research Utilization in Policymaking: A Tale of Two Series (of Social Experiments)’ 10. J.E. Katz (1993), ‘Science, Technology, and Congress’ D. Policy Evaluation and Governance 11. J.-P. Nioche (1992), ‘Institutionalizing Evaluations in France: Skating on Thin Ice?’ 12. M. Bamberger (1991), ‘The Politics of Evaluation in Developing Countries’ 13. H.-U. Derlien (1992), ‘Two-Track Processes: Budgeting, Auditing and Evaluation in the Federal Republic of Germany’ Part II: The Policy Cycle A. Policy Formulation 14. D.A. Rochefort and R.W. Cobb (1993), ‘Problem Definition, Agenda Access, and Policy Choice’ 15. M. Peters and J. Marshall (1993), ‘Educational Policy Analysis and the Politics of Interpretation’ 16. S.B. Kamerman and A.J. Kahn (1989), ‘Family Policy: Has The United States Learned From Europe’? 17. C.A. Arnold (1989), ‘Beyond Self-Interest: Policy Entrepreneurs and Aid to the Homeless’ B. Policy Implementation 18. R.C. Lippincott and R.P. Stoker (1992), ‘Policy Design for Implementation Effectiveness: Structural Change in a County Court System’ 19. S. Jasanoff (1991), ‘Cross-National Differences in Policy Implementation’ 20. G. Byner 91991), ‘Implementing Global Environmental Agreements’ C. Policy Accountability 21. R.C. Rist (1989), ‘Management Accountability: The Signals Sent by Auditing and Evaluation’ 22. M. Bamberger (1989), ‘The Monitoring and Evaluation of Public Sector Programs in Asia: Why are Development Programs Monitored but Not Evaluated?’ 23. J.W. Guthrie (1991), ‘The World’s New Political Economy is Politicizing Educational Evaluation’ Part III: Sectorial Policy Evaluation A. Environment 24. L. Gan (1992–3), ‘Global Environmental Policy in Social Context: The Case of China’ B. Health Insurance 25. J.A Wysong and T. Abel (1990), ‘Universal Health Insurance and High-risk Groups in West Germany: Implications for U.S. Health Policy’ C. Education 26. P.A. McGavin (1991), ‘Policy Evaluation of Investment in Education: A Papua New Guinea Study’ D. Economic Development 27. D.L Brown and M.E. Warner (1991), ‘Persistent Low-Income Nonmetroplolitan Areas in the United States: Some Conceptual Challenges for Development Policy’ E. Industrial Relations 28. D. Marsh (1991), ‘British Industrial Relations Policy Transformed: The Thatcher Legacy’ F. Energy 29. D. Rahm (1993), ‘US Public Policy and Emerging Technologies: The Case of Solar Energy’ G. Child Support 30. J. Millar and P. Whiteford (1993), ‘Child Support in Lone-Parent Families: Policies in Australia and the UK’ H. Housing 31. D. Clapham and M. Satsangi (1992), ‘Performance Assessment and Accountability in British Housing Management’ Name Index

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Book SynopsisDo public goods and services, such as streets, parks and dams have to be provided by government? In Public Goods and Private Communities, Fred Foldvary's innovative application of public choice and spatial theory to questions of urban economics and governance shows how collective goods can be provided by agents in a market process.Rejecting the market-failure hypothesis, Dr Foldvary argues that an entrepreneur can provide collective goods by consensual community agreements. Instead of focusing particular services, as previous studies have done, this book concerns itself with entire private communities. A series of case studies demonstrates how real world communities, such as Walt Disney World, the Reston Association in Virginia and the private neighbourhoods of St Louis, are in fact financing their own public goods and services in accordance with this theory. For such communities to rise and prosper, the author contends, government must eliminate restrictions such as zoning as well as the taxation of private services. After considering the implications of his work for urban economies - at a time when many of America's cities are plagued by decay, violence and poverty - Dr Foldvary argues that prosperity can be restored to cities if private communities are allowed to develop. As an original response to an urgent, contemporary problem this well-written book will be welcomed by social scientists, policy makers and business leaders seeking solutions to problems of urban decay.Trade Review'Foldvary's book provides an interesting and exciting contribution to ongoing discussions on deregulation, privatization, and constitutions, taking place not only in the United States but in European countries and especially within the European Union as well. Readers interested in these topics will find the book of great interest.' -- Olivier Binet, Kyklos'. . . there is much of interest in this small volume. . . . Foldvary's contribution raises some provocative issues and offers some insights into how we provide shared goods and services in a variety of nontraditional settings.' -- Holley H. Ulbrich, American Journal of Agricultural Economics'Foldvary has written an admirably substantive work. It conveys much fresh and enthusiastic thinking, and it reports solid research on specific projects. His work stands in admirable contrast with several "Austrian" writings that paw away, abstractly and ineffectually, at the very concepts of public goods and market failure and even of externalities.' -- Leland B. Yeager, Auburn University, Alabama, US'The book contributes a significant argument to debates over the limits to government and the increasing privatization of society.' -- R.A. Beauregard, Social & Behavioral Sciences'Fred Foldvary has made a valuable contribution to the economic literature on public goods and public finance. If it is fully appreciated by the economics profession it could revolutionize and dramatically improve the study of urban economics specifically and public economics in general'. -- Roy E. Cardato, The Freeman'The author uses several case studies to lend an empirical foundation to this innovative thesis which, in turn , is cogently presented in this well written book.' -- Vani Borooah, Economic Journal'The most pleasing element of Foldvary's work is the wonderful streak of Utopianism which runs throughout. As Hayek noted some 30 years ago, advocates of the liberal order are often negative and defensive in their style. Here is a positive vision of how the future could be, of which all liberals can be proud.' -- Mark Pennington, Economic Affairs

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Book SynopsisAlthough what has come to be known as transaction cost economics has its origins in the 1930s, it was not until the 1970s that transaction cost economics as a systematic and identifiable field of study began. Since then, numerous theoretical developments and empirical applications have expanded and enriched the field. Recognition of its contributions to our understanding of organizations and institutions includes two Nobel laureates, Ronald Coase in 1991 and Oliver Williamson in 2009. This is an important selection of key articles on transaction cost economics by distinguished scholars including Ronald Coase, Herbert Simon, Kenneth Arrow and Richard A. Posner. This research review addresses key areas such as private ordering and credibility, contracts and organization, internal organization, vertical integration and contracting.Trade Review‘The individual items included are all worthy, and the brief introductons provided to each volume are useful guides. The collection is clearly worthwhile as a place to send students to begin, or as a handy reference source.’ -- Malcom Rutherford, Journal of Institutional and Theoretical EconomicsTable of ContentsVolume I PART ONE: CLASSICS 1. R.H. Coase (1972), ‘Industrial Organization: A Proposal for Research.’ 2. Kenneth J. Arrow (1974), ‘Organization and Information.’ 3. Herbert A. Simon (1962), ‘The Architecture of Complexity.’ PART II: RUDIMENTS 4. Armen A. Alchian and Harold Demsetz (1972), ‘Production, Information Costs, and Economic Organization.’ 5. Benjamin Klein, Robert G. Crawford and Armen A. Alchian (1978), ‘Vertical Integration, Appropriable Rents, and the Competitive Contracting Process.’ 6. Oliver E. Williamson (1979), ‘Transaction-Cost Economics: The Governance of Contractual Relations.’ 7. Oliver E. Williamson (1991), ‘Comparative Economic Organization:The Analysis of Discrete Structural Alternatives.’ 8. David J. Teece (1982), ‘Towards an Economic Theory of the Multiproduct Firm.’ PART III: PRIVATE ORDERING AND CREDIBILITY 9. Benjamin Klein and Keith B. Leffler (1981), ‘The Role of Market Forces in Assuring Contractual Performance.’ 10. Oliver E. Williamson (1983), ‘Credible Commitments: Using Hostages to Support Exchange.’ 11. Avner Greif (1993), ‘Contract Enforceability and Economic Institutions in Early Trade: The Maghribi Traders' Coalition.’ 12. Douglass C. North and Barry R. Weingast (1989), ‘Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England.’ PART IV: CONTRACTS AND ORGANIZATION 13. Sanford J. Grossman and Oliver D. Hart (1986), ‘The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration.’ 14. Oliver Hart and John Moore (1990), ‘Property Righs and the Nature of the Firm.’ 15. Michael H. Riordan (1990), ‘What is Vertical Integration.’ 16. Jean Tirle (1988), ‘The Theory of the Firm.’ PART V: INTERNAL ORGANIZATION 17. Oliver E. Williamson (1985), ‘The Limits of the Firms: Incentive and Bureaucratic Features.’ 18. Paul Milgrom and John Roberts (1990), ‘Bargaining Costs, Influence Costs, and the Organization of Economic Activity.’ 19. David M. Kreps (1990), ‘Corporate Culture and Economic Theory.’ 20. Bengt Holmstrom and Paul Milgrom (1991), ‘Multitask Principal–Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design.’ 21. Masahiko Aoki (1990), ‘Toward an Economi Model of the Japanese Firm.’ PART VI: PROSPECTS AND RETROSPECTIVE 22. Eirik G. Furubotn and Rudolf Richter (1991), ‘The New Institutional Economics: An Assessment.’ 23. Ronald H. Coase (1991), ‘The Institutional Structure of Production.’ 24. Richard A. Posner (1993), ‘The New Institutional Economics Meets Law and Economics.’ 25. Ronald H. Coase (1993), ‘Coase on Posner on Coase.’ 26. Oliver E. Williamson (1993), ’Transaction Cost Economics Meets Posnerian Law and Economics.’ Volume II PART I: VERTICAL INTEGRATION 1. Benjamin Klein (1988), ‘Vertical Integration as Organizational Ownership.’ 2. Paul L. Joskow (1985), ‘Vertical Integration and Long-term Contracts: The Case of Coal-burning Electric Generating Plants.’ 3. Kirk Monteverde and David J. Teece (1982), ‘Supplier Switching Costs and Vertical Integration in the Automobile Industry.’ 4. Scott E. Masten (1984), ‘The Organization of Production: Evidence from the Aerospace Industry.’ 5. Erin Anderson and David C. Schmittlein (1984), ‘Integration of the Sales Force: An Empirical Examination.’ 6. George John and Barton A. Weitz (1988), ‘Forward Integration into Distribution: An Empirical Test of Transaction Cost Analysis.’ 7. Scott E. Masten, James W. Meehan Jr. and Edward A. Synder (1991), ‘The Costs of Organization.’ PART II: CONTRACTING 8. Thomas M. Palay (1984), ‘Comparative Institutional Economics: The Governance of Rail Freight Contracting.’ 9. Victor P. Goldberg and John R. Erickson (1987), ‘Quantity and Price Adjustment in Long-Term Contracts: A Case Study of Petroleum Coke.’ 10. Paul L. Joskow (1987), ‘Contract Duration and Relationship-Specific Investments: Empirical Evidence from Coal Markets.’ 11. J. Harold Mulherin (1986), ‘Complexity in Long-term Contracts: An Analysis of Natural Gas Contractual Provisions.’ 12. Scott. E. Masten and Keith J. Crocker (1985), ‘Efficient Adaptation in Long-Term Contracts: Take-or-Pay Provisions for Natural Gas.’ 13. Keith B. Leffler and Randal R. Rucker (1991), ‘Transactions Costs and the Efficient Organization of Production: A Study of Timber-Harvesting Contracts.’ 14. Keith J. Crocker and Scott E. Masten (1991), ‘Pretia ex Machina? Prices and Process in Long-Term Contracts.’ PART III: REGULATION AND POSITIVE POLITICAL ECONOMY 15. Oliver E. Williamson (1976), ‘Franchise Bidding for Natural Monopolies – In General and with Respect to CATV.’ 16. Victor P. Goldberg (1976), ‘Regulation and Administered Contracts.’ 17. George L. Priest (1993), ‘The Origins of Utility Regulation and the “Theories of Regulation” Debate.‘ 18. Brian Levy and PabloT. Spiller (1994), ‘The Institutional Foundations of Regulatory Commitment: A Comparative Analysis of Telecommunications Regulation.’ 19. Barry R. Weingast and William J. Marshall (1988), ‘The Industrial Organization of Congress; or, Why Legislatures, Like Firms, Are Not Organized as Markets.’ 20. Rafael Gely and Pable T. Spiller (1990), ‘A Rational Choice Theory of Supreme Court Statutory Decisions with Applications to the State Farm and Grove City Cases.’ PART IV: ANTITRUST 21. Oliver E. Williamson (1979), ‘Assessing Vertical Market Restrictions: Antitrust Ramifications of the Transaction Cost Approach.’ 22. Roy W. Kenney and Benjamin Klein (1983), ‘The Economics of Block Booking.’ 23. Scott E. Masten and Edward A. Snyder (1993), ‘United States versus United Shoe Machinery Corporation:

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Book SynopsisThis three-volume collection - prepared by a leading scholar and practitioner - presents the subject through a collection of important published articles on the debt market. It focuses first on the classical bond market and moves on to a discussion of rational expectations, estimation and the term structure. This is followed by the modern theory of the term structure derived from modelling the stochastic movements of interest rates. The third section discusses implementation and related subtopics including taxation and the management of interest rate risk. The final section extends the discussion to corporate bonds and mortgages.Table of ContentsContents: Volume I: Acknowledgements • Introduction Part I The Classical Expectations Hypothesis 1. F.A. Lutz (1941), ‘The Structure of Interest Rates’ 2. J.M. Culbertson (1957), ‘The Term Structure of Interest Rates’ 3. John H. Wood (1964), ‘The Expectations Hypothesis, the Yield Curve, and Monetary Policy’ 4. Franco Modigliani and Richard Sutch (1966), ‘Innovations in Interest Rate Policy’ 5. J. Huston McCulloch (1975), ‘An Estimate of the Liquidity Premium’ Part II Testing Rational Expectations Hypotheses 6. Robert J. Shiller (1990), ‘The Term Structure of Interest Rates’ 7. John Y. Campbell and Robert J. Shiller (1991), ‘Yield Spreads and Interest Rate Movements: A Bird’s Eye View’ 8. Robert F. Stambaugh (1988), ‘The Information in Forward Rates: Implications for Models of the Term Structure’ 9. Eugene F. Fama (1975), ‘Short-Term Interest Rates as Predictors of Inflation’ 10. Bradford Cornell (1978), ‘Monetary Policy, Inflation Forecasting and the Term Structure of Interest Rates’ 11. Eugene F. Fama (1984), ‘Term Premiums in Bond Returns’ 12. Tadashi Kikugawa and Kenneth J. Singleton (1994), ‘Modeling the Term Structure of Interest Rates in Japan’ Part III The Derivative Asset Approach to the Term Structure 13. Robert C. Merton (1973), ‘Theory of Rational Option Pricing’ 14. John C. Cox and Stephen A. Ross (1976), ‘The Valuation of Options for Alternative Stochastic Processes’ 15. Oldrich Vasicek (1977), ‘An Equilibrium Characterization of the Term Structure’ 16. John C. Cox, Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1981), ‘A Re-examination of Traditional Hypotheses about the Term Structure of Interest Rates’ 17. John C. Cox, Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1985), ‘A Theory of the Term Structure of Interest Rates’ 18. John C. Cox, Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1985), ‘An Intertemporal General Equilibrium Model of Asset Prices’ 19. Michael J. Brennan and Eduardo S. Schwartz (1979), ‘A Continuous Time Approach to the Pricing of Bonds’ 20. David Heath, Robert Jarrow and Andrew Morton (1992), ‘Bond Pricing and the Term Structure of Interest Rates: A New Methodology for Contingent Claims Valuation’ 21. Philip H. Dybvig, Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1996), ‘Long Forward and Zero-Coupon Rates Can Never Fall’ Name Index Volume II: Part I Testing the Derivative Asset Approach 1. Stephen J. Brown and Philip H. Dybvig (1986), ‘The Empirical Implications of the Cox, Ingersoll, Ross Theory of the Term Structure of Interest Rates’ 2. Robert Litterman and José Scheinkman (1991), ‘Common Factors Affecting Bond Returns’ 3. Robert Litterman, José Scheinkman and Laurence Weiss (1991), ‘Volatility and the Yield Curve’ 4. Michael R. Gibbons and Krishna Ramaswamy (1993), ‘A Test of the Cox, Ingersoll, and Ross Model of the Term Structure’ 5. Roger H. Brown and Stephen M. Schaefer (1994), ‘The Term Structure of Real Interest Rates and the Cox, Ingersoll, and Ross Model’ Part II Implementing the Derivative Asset Approach 6. John C. Cox, Stephen A. Ross and Mark Rubinstein (1979), ‘Option Pricing: A Simplified Approach’ 7. Thomas S.Y. Ho and Sang-Bin Lee (1986), ‘Term Structure Movements and Pricing Interest Rate Contingent Claims’ 8. Fischer Black, Emanuel Derman and William Toy (1990), ‘A One-Factor Model of Interest Rates and Its Application to Treasury Bond Options’ 9. John Hull and Alan White (1990), ‘Pricing Interest-Rate-Derivative Securities’ Part III Taxation and Clientele Effects 10. J. Huston McCulloch (1975), ‘The Tax-Adjusted Yield Curve’ 11. Philip H. Dybvig and Stephen A. Ross (1986), ‘Tax Clienteles and Asset Pricing’ and ‘Discussion’ 12. Walter N. Torous (1985), ‘Differential Taxation and the Equilibrium Structure of Interest Rates’ 13. Stephen M. Schaefer (1982), ‘Tax-Induced Clientele Effects in the Market for British Government Securities: Placing Bounds on Security Values in an Incomplete Market’ 14. Richard Roll (1984), ‘After-Tax Investment Results from Long-Term vs. Short-Term Discount Coupon Bonds’ 15. George M. Constantinides and Jonathan E. Ingersoll, Jr. (1984), ‘Optimal Bond Trading with Personal Taxes’ Part IV Duration, Immunization and Hedging 16. F.M. Redington (1952), ‘Review of the Principles of Life-Office Valuations’ 17. Lawrence Fisher and Roman L. Weil (1971), ‘Coping with the Risk of Interest-Rate Fluctuations: Returns to Bondholders from Naïve and Optimal Strategies’ 18. G.O. Bierwag (1977), ‘Immunization, Duration, and the Term Structure of Interest Rates’ 19. Jonathan E. Ingersoll, Jr., Jeffrey Skelton and Roman L. Weil (1978), ‘Duration Forty Years Later’ 20. Jonathan E. Ingersoll, Jr. (1983), ‘Is Immunization Feasible? Evidence from the CRSP Data’ 21. Stephen M. Schaefer (1984), ‘Immunisation and Duration: A Review of Theory, Performance and Applications’ 22. John C. Cox, Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1979), ‘Duration and the Measurement of Basis Risk’ Name Index Volume III: Part I Corporate Bonds 1. Fischer Black and Myron Scholes (1973), ‘The Pricing of Options and Corporate Liabilities’ 2. Robert C. Merton (1974), ‘On the Pricing of Corporate Debt: The Risk Structure of Interest Rates’ 3. Fischer Black and John C. Cox (1976), ‘Valuing Corporate Securities: Some Effects of Bond Indenture Provisions’ 4. Jonathan E. Ingersoll, Jr. (1977), ‘A Contingent-Claims Valuation of Convertible Securities’ 5. Michael J. Brennan and Eduardo S. Schwartz (1977), ‘Savings Bonds, Retractable Bonds and Callable Bonds’ 6. Clifford W. Smith, Jr. and Jerold B. Warner (1979), ‘On Financial Contracting: An Analysis of Bond Covenants’ 7. René M. Stulz and Herb Johnson (1985), ‘An Analysis of Secured Debt’ 8. Edward I. Altman (1989), ‘Measuring Corporate Bond Mortality and Performance’ 9. Robert Litterman and Thomas Iben (1991), ‘Corporate Bond Valuation and the Term Structure of Credit Spreads’ 10. Kenneth B. Dunn and Kenneth M. Eades (1989), ‘Voluntary Conversion of Convertible Securities and the Optimal Call Strategy’ 11. Douglas W. Diamond (1993), ‘Seniority and Maturity of Debt Contracts’ Part II Mortgages and Other Fixed Income Instruments 12. Scott M. Pinkus, Susan Mara Hunter and Richard Roll (1987), ‘An Introduction to the Mortgage Market and Mortgage Analysis’ 13. Douglas T. Breeden (1991), ‘Risk, Return, and Hedging of Fixed-Rate Mortgages’ 14. Scott F. Richard and Richard Roll (1989), ‘Prepayments on Fixed-Rate Mortgage-Backed Securities’ 15. Eduardo S. Schwartz and Walter N. Torous (1989), ‘Valuing Stripped Mortgage-Backed Securities’ 16. Sheridan Titman and Walter Torous (1989), ‘Valuing Commercial Mortgages: An Empirical Investigation of the Contingent-Claims Approach to Pricing Risky Debt’ 17. John C. Cox, Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1980), ‘An Analysis of Variable Rate Loan Contracts’ 18. Krishna Ramaswamy and Suresh M. Sundaresan (1986), ‘The Valuation of Floating-Rate Instruments: Theory and Evidence’ 19. Richard Roll (1996), ‘U.S. Treasury Inflation-Indexed Bonds: The Design of a New Security’ Name Index

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Book SynopsisThe introduction of effective, competitive and innovative financial systems will be a key factor in the economic success, or failure, of Central and Eastern Europe. This important volume presents a comprehensive, up-to-date analysis of the development of financial systems in the region with contributions from leading researchers and bankers.An overview of recent developments and discussion of some of the major issues - including central bank independence, bank privatization and bankruptcy regulations - is followed by discussion of the conditions for and likely consequences of financial liberalization in Central and Eastern Europe. The contributors draw upon the experience of Austria and Finland, two West European countries that recently accomplished full financial liberalization. The final section includes a series of specific regional studies on the results and problems of financial reform in the Czech Republic, Hungary and Poland, three leading reforming countries, and Bulgaria, one of the ‘second wave’ of transitional economies.Providing an authoritative review of current trends, The Development and Reform of Financial Systems in Central and Eastern Europe makes a unique contribution to a neglected area in the literature on economic transformation and development in former command economies.Trade Review’[T]his publication does contain some very interesting articles.’Table of ContentsFinancial distress in Central and Eastern Europe - an overview; the banking system - the foundation for emerging financial markets; financial liberalization - lessons from experience; reforming financial markets - case studies in Central and Eastern Europe.

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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 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 is the first English language edition of Le Commerce et le Gouvernement by the distinguished eighteenth century economist and philosopher Condillac. It was one of the most original contributions to French economics in the eighteenth century. In this edition the editors provide an English translation of the original and a comprehensive account of Condillac's life and contribution to economics. In the late eighteenth century Condillac used the clarity and precision of thought of a leading philosopher to derive a fundamental set of economic principles and their implications for policy. He arrived at the same free trade conclusions as Adam Smith, and Le Commerce et le Gouvernement was published in the same year as The Wealth of Nations. Condillac's economics was initially condemned by the physiocrats because in his utility-based analysis, industry and commerce and not just agriculture contributed to the wealth of France. The original French edition was quickly dismissed by those in positions of power in France who preferred dirigism to competition, while across the Channel the British were unaware of its existence. The importance of Condillac's contribution to economics was recognised after the marginal revolution of the 1870's. In the eighteenth century Condillac won the respect of Voltaire and Rousseau, and the high regard of the King and the Church. His work has since been admired by Allais, Hayek, Menger and Weulersse, while Jevons believed that it provided the first distinct statement of the true connection between value and utility. Commerce and Government will be of special interest to historians of economic thought and those interested in the economic history of the eighteenth century.Trade Review'. . . fine translation of Condillac's book prepared by Shelagh Eltis. . . . the translation is crisp, elegant and, of particular importance, accurately reflects Condillac's meaning in so far as any translation can do so. To this high quality translation can be added an equally high quality introduction in which the translator is joined by Walter Eltis, the noted commentator on French eighteenth century economics.'Table of ContentsContents: Preface Part I: The Life and Contribution to Economics of the Abbé de Condillac 1. Étienne Bonnot: Abbé de Condillac, 1714–1780 2. The Economics of the Abbé de Condillac 3. The Editions of Commerce and Government Part II: Commerce and Government: Considered in their Mutual Relationship (Translated by Shelagh Eltis) Bibliography Index

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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 authoritative new volume contains a selection of the most important articles and papers spanning over 20 years on budgeting and managing public spending. It is divided into five succinct parts, covering the main areas of the field including the political-economic environment, approaches to expenditure budgeting and implementing the budget. Donald Savoie does not limit his examples to just one country - budgeting and spending is discussed in a variety of countries, including the UK, Australia, New Zealand, America, Canada and Spain. He has also written a new introduction to accompany the piece. All those with an interest in government spending, budgeting and how finances are controlled will find this work - which includes articles and papers not immediately accessible - an essential reference tool.Table of ContentsContents: Acknowledgements Introduction Part I: Some Theoretical Considerations 1. I.S. Rubin (1990), ‘Budget Theory and Budget Practice: How Good the Fit?’ 2. N. Caiden (1978), ‘Patterns of Budgeting’ 3. J.L. Payne (1991), ‘Elections and Government Spending’ 4. L. Sigelman (1986), ‘The Bureaucrat as Budget Maximizer: An Assumption Examined’ 5. A.T. Cowart (1976), ‘The Machiavellian Budgeter’ 6. N. Caiden (1989), ‘A New Perspective on Budgetary Reform’ Part II: The Political–Economic Environment 7. G. Whitwell (1990), ‘The Triumph of Economic Rationalism: The Treasury and the Market Economy’ 8. A. Schick (1986), ‘Macro-Budgetary Adaptations to Fiscal Stress in Industrialized Democracies’ 9. A. Schick (1988), ‘Micro-Budgetary Adaptations to Fiscal Stress in Industrialized Democracies’ 10. D.F. Kettl (1989), ‘Expansion and Protection in the Budgetary Process’ Part III: Approaches to Expenditure Budgeting 11. P.A. Pyhrr (1977), ‘The Zero-Base Approach to Government Budgeting’ 12. M. Robinson (1992), ‘Program Budgeting: Costs and Benefits’ 13. P.G. Joyce (1993), ‘The Reiterative Nature of Budget Reform: Is There Anything New in Federal Budgeting?’ 14. A. Wildavsky (1983), ‘From Chaos Comes Opportunity: The Movement Toward Spending Limits in American and Canadian Budgeting’ 15. D.A. Cothran (1993), ‘Entrepreneurial Budgeting: An Emerging Reform?’ Part IV: A Comparative Perspective 16. N.J. Caiden (1985), ‘Comparing Budget Systems: Budgeting in ASEAN Countries’ 17. F. Goldman and E. Brashares (1991), ‘Performance and Accountability: Budget Reform in New Zealand.’ 18. E.Z. Goñi (1992), ‘Financial Management Development in Spain: Who is Playing Sancho Panza?’ 19. M. Keating and M. Holmes (1990), ‘Australia’s Budgetary and Financial Management Reforms’ 20. C. Thain and M. Wright (1992), ‘Planning and Controlling Public Expenditure in the UK, Part I: The Treasury’s Public Expenditure Survey’, and ‘Part II: The Effects and Effectiveness of the Survey’ 21. D.J. Savoie (1990), ‘Reforming the Expenditure Budget Process:The Canadian Experience’ Part V: Implementing the Expenditure Budget 22. A. Schick (1990), ‘Budgeting for Results: Recent Developments in Five Industrialized Countries’ 23. A. Gray, B. Jenkins with A. Flynn and B. Rutherford (1991), ‘The Management of Change in Whitehall: The Experience of the FMI’ 24. N. Carter (1991), ‘Learning to Measure Performance: The Use of Indicators in Organizations’ 25. W. Bartley Hildreth (1993), ‘Federal Financial Management Control Systems: An Integrative Framework’ 26. N. Adams (1986), ‘Efficiency Auditing in the Australian Audit Office’ Name Index

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Book SynopsisPieter Hennipman, the leading Dutch economist of the post-war period, made many substantial contributions to economic policy, welfare economics and, latterly, the methodology and history of economic thought during a long and distinguished career.Welfare Economics and the Theory of Economic Policy brings together a key selection of Professor Hennipman's papers - many of which have not been published in English before - which express his profound analysis of the theory of economic policy and his masterful discussion of its definition, character and scope. The pioneering work featured here developed his argument that normative economic statements and economic policies can be analysed scientifically and evaluated with the use of objective criteria. Prominent among these papers are the contributions to welfare economics and Pieter Hennipman's examination of the transition from the view that welfare was exclusively dependent on production to one which saw it as a subjective phenomenon dependent upon consumption. This volume also includes his rigorous and insightful essays on the history of the theory of welfare economics.With a thorough introduction by Donald Walker, this comprehensive volume will improve access to Professor Hennipman's outstanding contributions on the nature of the theory of economic policy as well as papers which place welfare theory in relation to other sections of economic theory in a penetrating and sophisticated manner.Trade Review'This book provides an excellent reference volume by bringing together a collection of this distinguished author's key papers covering analysis of the theory of economic policy and discussion of its definition, character and scope.' -- Aslib Book Guide'. . . I recommend the book especially to the "mainstream" sceptics.'– Yew-Kwang Ng, The Manchester SchoolTable of ContentsContents: Preface Introduction 1. On the Theory of Economic Policy 2. Pareto Optimality: Value Judgement or Analytical Tool? 3. Welfare Economics: The Hennipman–Mishan Debate 4. The Reasoning of a Great Methodologist: Mark Blaug on the Nature of Paretian Welfare Economics 5. Two Kinds of Interpersonal Utility Comparison 6. Distribution in Paretian Welfare Economics 7. Wicksell and Pareto: Their Relationship in the Theory of Public Finance 8. Some Notes on Pareto Optimality and Wicksellian Unanimity 9. A Tale of Two Schools: Comments on a New View of the Ordinalist Revolution 10. Hicks, Robbins and the Demise of Pigovian Welfare Economics: Rectification and Amplification Index

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Book SynopsisContaminated land policy is a key concern of governments and policy makers across the globe, yet discussion has traditionally focused on the particular experience of the United States. This major new book develops a framework for assessing laws and regulations regarding contaminated land and polluted properties, their clean up and reuse, and the assignment of costs and responsibilities for reclamation.In Contaminated Land, the authors, a European and two Americans, lay out a framework for cross- national comparisons of policy contexts as well as ways of examining the outcomes of different approaches to contaminated land and systematically compare approaches to this issue in both the EU and US. The use of this framework leads to a reassessment of specific policies, such as the polluter pays principle, which may be more successful in the EU than it has been in the US, and subsidiarity which, while problematic in Europe, may hold promise in a US application. Specific issues discussed include the nature and extent of the contaminated land problem, legal implications, regulation in the US, the 1980 Comprehensive Environmental Liability, Compensation and Reclamation Act, European experience and EU environmental policy, integrated comparative analysis and some lessons for the future.Contaminated Land offers valuable insights on policy responses to the problem of badly polluted land from the perspectives of planning, economics and sociology. In particular, this volume offers frameworks for comparison of different national settings to help determine the preferred and most promising approaches to contaminated land in any social, economic and legal policy context.Trade Review'Contaminated Land fills an unserved niche in the literature. Few other books are available on this topic. The book is non-technical, and therefore very accessible. It should be successful in addressing its intended audience, which would include government regulators, people interested in the evolution of environmental issues, and scholars doing comparative analysis of policymaking. . . . this book is well worth reading and makes a substantial contribution to the debate and literature on brownfields redevelopment.'Table of ContentsContents: Introduction 1. The Contaminated Land Problem 2. Dimensions of National Contaminated Land Policy Contexts 3. The Emergence of Environmental Concern and Toxics Policy in the United States 4. The CERCLA Experience and Debates over Change 5. The European Context and European Union Environmental Policy 6. Contaminated Land Policy in the European Union and its Member-States 7. Comparisons and Contrasts: Integrated Comparative Analysis 8. Lessons for Future Contaminated Land Policy: Prospects and Pitfalls

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Book SynopsisIn Fiscal Policy and Social Welfare John Creedy examines alternative tax and transfer systems and their redistributive effects.Drawing on original research, this volume concentrates on modelling tax structures and their implications for social welfare and income distribution. After reviewing various inequality and tax progressivity measures, as well as social welfare functions, the discussion moves systematically from a framework with fixed labour supplies to one in which labour supplies respond to changes in the tax system. Attention is given to taxes in a multi-period context, including the treatment of pension schemes. Finally, the analysis is extended to a general equilibrium framework involving many individuals. Extensive use is made of numerical examples and diagrams.Researchers, students and policy makers will welcome this rigorous and consistent treatment of alternative tax and transfer systems and their effects on social welfare, income distribution and tax progressivity, in both partial and general equilibrium contexts.Trade Review'. . . this text provides a central reference for anyone interested in the welfare implications of tax-benefit systems and it can be warmly recommended.'Table of ContentsContents: Introduction Part I: Fixed Labour Supplies Part II: Variable Labour Supplies Part III: General Equilibrium Reference Index

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Book SynopsisAt a time when state assistance to the arts sector has come under considerable scrutiny both in Europe and the United States, this book comprehensively examines the evolution of, and rationale for, state involvement with the so-called 'high' arts on both continents. This book offers an overview of the key economic issues arising in relation to the state and the arts in these regions, with a detailed analysis of the European and American models of state assistance to the high arts sector.John O'Hagan examines in detail the various channels - regulation, taxation and direct expenditure - through which the state interacts with the arts and compares and contrasts the experiences of America and Europe. Regulatory measures considered include the guarantee of artistic freedom, copyright, resale royalties for artists, and trade restrictions. He also considers taxation measures to support the arts, including deductions for charitable contributions to the arts, property tax exemption, and relief on artists' income. The discussion on direct expenditure covers state ownership of institutions, revenue funding and matching grants as well as new avenues of expenditure such as community arts/arts centres, and new revenue sources for this expenditure, such as lottery funding. Finally the book covers the non-profit making arts sector, and examines why it, and not the commercial sector, receives private and state funding.The State and the Arts will be indispensable for students and academics of public and social policy, cultural economics and public management. It will also be of considerable interest to policymakers and key players in the arts sector.Trade Review'O'Hagan has taken on a difficult task indeed in trying to sort through the evidence on the state and the arts. He has opened the door to numerous potential research papers, and made clear the need for much more work to be done in the area of data classification and collection. He has also done the valuable task of pulling together previous research from a variety of sources, many of which will not be familiar to economists. I will be consulting this book often.'Table of ContentsContents: Preface 1. Introduction Part I: Policy Rationale: Why the State gets Involved 2. Non-Private Benefits 3. Information Failures and Distributional Issues Part II: Policy Implementation: How the State gets Involved 4. Regulation 5. Taxation 6. Direct Expenditures Part III: Sectoral Policy Issues: Effects of State Involvement 7. Art Museums 8. Performing Arts Institutions Index

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Book SynopsisThis pioneering study shows that economic integration in the Americas is not simply a matter of removing trade barriers. Economic Integration in the Americas addresses the pervasive effects of economic integration on the economy as a whole.This important book examines elements of financial integration and capital mobility in North America and addresses in turn the effects of the North American Free Trade Association on Mexico, comparisons between NAFTA and the European Union, the impact of NAFTA on issues such as social protection, migration and Canadian agricultural policy, and finally, regionalism and multilateralism in the Western hemisphere. While drawing on the experience of European integration, the authors recognize that new, broader analyses are required in the Western hemisphere to allow for the ranges of country size, natural resource endowments and per capita incomes. Sensitive to the political interests involved in economic integration between unequal partners, Economic Integration in the Americas offers students, researchers and policymakers a better understanding of policy at both national and supranational levels.Trade Review'This collection will be well worth reading for those interested in problems and consequences of closer economic integration in North America. It will add to the understanding by those in Europe of the problems of integration between large and small countries and countries with great disparities in income and wealth. The inclusion of several chapters on Mexico is particularly illuminating.' -- David G. Mayes, The Economic JournalTable of ContentsContents: Foreword (R.Eckaus) Acknowledgements Introduction Part I: Aspects of Financial Integration and Capital Mobility in North America Part II: Mexico under NAFTA Part III: NAFTA and the European Union Compared Part V: Issues of Economic Integration : NAFTA and Beyond Part V: Regionalism vs Multilateralism: The Western Hemisphere Index

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Book SynopsisThis collection of essays is a state-of-the-art analysis of key issues confronting the European Union. Identifying European economic integration as one of the defining features of modern international economics, the authors examine many aspects and consequences of this integration which remain as yet obscure and unexplored. In this book, after addressing general issues concerned with European integration, the authors include empirical and theoretical analyses of the monetary union, social policy reform and social union, public finance in the EU, the EU's agriculture and technology policies, and direct foreign investment into the EU. In particular, the volume includes detailed discussion of Greek membership of the EU, supplying a context in which many of the general issues of industrial adjustment, investment and politics can be examined.Using a wide range of topics, methodologies and perspectives, Economic Integration and Public Policy in the European Union offers a stimulating and wide-ranging presentation which will be of interest to economic theorists, empirical social scientists, policymakers and the informed general reader.Trade Review'. . . this book should be warmly welcomed. . . . the book will be most appreciated by those with adequate knowledge of both economics as well as EU public policy. Those readers will find this book worthwhile reading.' -- Amy Verdun, European IntegrationTable of ContentsContents: Foreword (R. Eckaus) Acknowledgements Introduction Part I: European Integration: General Issues and Problems Part II: Empirical and Theoretical Analyses of Monetary Union Part III: Social Policy Reform and Social Union Part IV: Public Finance in the European Union Part V: European Union: Policies and Accession Part VI: Greece and the European Union Index

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Book SynopsisThis excellent book provides a welcome collection of David Teece's most important writings in the related areas of strategy and technology and their implications for public policy.These papers are the result of an ambitious agenda to analyse concepts in economics, organizational theory and management policy to provide a uniquely integrated global view of strategy, technology and public policy. Key topics which are addressed include: fundamental issues in strategic management technology and technology transfer antitrust regulation and deregulation technology policy 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 in its companion Economic Performance and the Theory of the Firm, 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: Strategy Part II: Technology Transfer and Licensing Part III: Public Policy Index

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Book SynopsisThis volume presents an authoritative collection of the most significant papers on fiscal federalism and local finance. In addition to some classic papers, it offers clear and insightful presentations of conventional wisdom in the field as well as recent papers which illuminate important issues and point the way to ongoing research. Topics covered include federal tax structure and the division of fiscal functions among levels of government, the effect of local taxes on economic growth, the systems of governmental grants, income redistribution, the theory and practice of local finance and fiscal decentralization in developing countries and transitional economies.Trade Review . . this compilation of articles to fiscal federalism and local finance is of highest quality and a must for each scholar interested in this field. Moreover, it is edited by Wallace Oates who is the father of the analysis of fiscal federalism. Thus, it is no surprise that the book contains the most outstanding classical papers in the field. All in all, this selection of papers is the best that can be drawn from the literature. . . . this volume . . . has been published right in time to set the pace for the future.’ -- Lars P. Feld, KyklosTable of ContentsContents: Introduction Part I: Overview Part II: Taxation in a Federal System III: Intergovernmental Grants Part IV: Redistribution in a Federal System Part V: Local Finance Part VI: Fiscal Decentralization in the Developing and Transitional Economies Name Index

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Book SynopsisLocal communities in all countries are increasingly aware of resource scarcity and are pressing for more say in how funds are used. Developments in Local Government Finance examines key issues for economists interested in local government and, in particular, the functioning of institutions at regional and local levels.Local government organization and finance are addressed from a variety of approaches by the authors who critically examine the current intergovernmental distribution of responsibility for service provision and revenue raising. Adopting a multilateral approach to theory and policy, this major book stresses the need for real, and not just formal, devolution and greater local accountability. The contributors highlight how instruments for financing local government and for pursuing interpersonal and geographical equity can vary considerably between countries with broadly similar systems, yet be surprisingly similar for countries with quite different institutional arrangements. Particular reference is made to emerging problems in the European Union and the experience of Switzerland, a country where fiscal federalism and tax harmonization are living together in a unique equilibrium of forces.Developments in Local Government Finance presents a major contribution to the understanding of local government and finance for both students and practitioners.Table of ContentsContents: Part I: New Solution to Old Problems Part II: Applying Theory to the Real World Part III: Local Government and Local Policy Making: Autonomy and Constraints Part IV: Fiscal Issues for Existing and Future Federations

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Book SynopsisThis major new book provides an accessible and innovative introduction to general equilibrium analysis and associated welfare economics. In this distinct and refreshing treatment, John Creedy develops a simple two sector model using only diagrams and simple mathematics to ensure that this treatment will be accessible to students.The analysis of exchange and the gains from trade in the context of price taking behaviour are the subject of the first part of the book. Special attention is given to general equilibrium supply and demand curves and, in contrast with partial equilibrium treatments, the possibility of multiple equilibria. Trading at disequilibrium prices, the influence of the numbers of traders and bargaining solutions are then discussed before production is added to the analysis and the two sector model constructed. General Equilibrium and Welfare will be welcomed for its accessible introduction to General Equilibrium analysis and for the strong emphasis it places on exchange, which is closely in line with the work of early neoclassical writers such as Jevons, Walras, Edgeworth and Wicksell.Trade Review'. . . it is certainly well written and it is useful for students who are not seeking a stepping-stone to more advanced topics.' -- Rabee Tourky, La Trobe University, AustraliaTable of ContentsContents: 1. Introduction Part I: Exchange with Price-Taking 2. Non-Utility Analysis 3. Utility Analysis of Exchange 4. Welfare Analysis of Exchange Part II: Exchange Without Price-Taking 5. Trading at Disequilibrium Prices 6. The Role of the Number of Traders 7. Bargaining Solutions Part III: General Equilibrium 8. The Two Sector Model 9. Solving the Two - Sector Model Index

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Book SynopsisFiscal Policy and Interest Rates in the European Union is a comprehensive study concerned with the potential effects of fiscal policy on financial markets in the European Union. It takes into account the gradual liberalization of capital movements throughout Western Europe and the institutional framework of the European monetary system. Klaas Knot takes a fresh approach to the impact of budget deficits on interest rates, especially in relation to international financial integration, and concludes that the increases in European budget deficits since the early 1970s have raised interest rates in the long term throughout the Union. In conclusion he argues that balanced budget deficits are necessary to maintain low interest rates.This important new book will be of interest to students, academics and policymakers concerned with monetary and public economics.Trade Review'The literature survey nature of some of the chapters in the book will prove invaluable to final year and postgraduate students, as well as to researchers new to the fields of interest and exchange rate determination.' -- Bob Sedgewick, Economic JournalTable of ContentsContents: 1. Introduction and Outline 2. Fiscal Policy: Theory, Determinants and Measurement 3. European Capital Markets: Deficit and Interest Rates 4. Deficit Announcements and Interest Rates in Germany 5. Interest Rate Differentials and Exchange Rate Policies in the European Monetary System 6. Fundamental Determinants of Interest Rate Differentials in the EMS 7. Summary and Conclusion Bibliography Indexes

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Book SynopsisFinancing Decentralized Expenditures presents new original research papers on the structure of intergovernmental fiscal relations in virtually all types of countries and the design and implementation of transfer mechanisms between different levels of government.In developing, transition, and industrial countries alike, the process of decentralization of government expenditures has proceeded apace to provide better accountability and quality of services to consumers. At the same time, tax administration constraints dictate the central collection and assignment of the major sources of revenues - particularly income taxes and VAT. This generates an imbalance in favour of the central government. The manner in which this imbalance in redistributed affects the degree and nature of decentralization generating considerable debate in countries as diverse as Italy and Denmark, those in North America, as well as countries in transition, such as China and Russia.The book includes a balance of overview pieces that explore the general issues supplemented by a large number of studies of intergovernmental transfer systems in specific countries. It offers a unique source of reference by providing a wealth of information of grant systems around the world.Trade Review'. . . the book is a useful addition to the literature on fiscal federalism and state-local finance as for the first time in one volume one can find analysis of grant systems of several countries.'Table of ContentsContents: Foreword (W.Oates) Acknowledgements 1. Intergovernmental Transfers – An International Perspective (E. Ahmad) 2. Assessing Provincial Revenue-Raising Capacity for Transfers (D.H. Clark) 3. Expenditure Needs: Institutions and Data (C.R. Rye, B. Searle) 4. The Fiscal Transfer System in Canada (D.H. Clark) 5. Intergovernmental Transfers in Switzerland and Germany (P.B. Spahn) 6. The Fiscal Transfer System in Australia (C.R. Rye, B. Searle) 7. Denmark and Other Scandinavian Countries: Equalization and Grants (J.R. Lotz) 8. Financing Regional and Local Governments – Italy and Spain (G. Brosio) 9. Intergovernmental Transfers in India (M.G. Rao) 10. Local Autonomy and Fiscal Resources in Korea (S.K. Kim) 11. Fiscal Transfers in Indonesia (Z. Qureshi) 12. The New Revenue-Sharing Arrangement in China: An Illustrative Example ( D. Mihaljek) 13. Constraints in Reforming the Transfer System in China (L. Jiwei) 14. Types of Transfers - A General Formulation (E. Ahmad, R. Thomas)

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Book SynopsisThis comprehensive book presents an original reconstruction of the different interpretations of the Phillips curve. The authors demonstrate through an in-depth analysis how it is possible to find non-neoclassical foundations in the trade-off between inflation and unemployment. The debate is presented from a historical perspective which charts the evolution of the Phillips curve from a non-neoclassical perspective, taking account of post Keynesian literature.In the first part of the book the authors focus on the origins of the Phillips curve and they critically analyse Richard Lipsey's interpretation and approach to the Phillips curve. They then explore the neoclassical and monetarist interpretation, paying special attention to the evolution of monetarism and the Keynesian critique of this approach. The Kaleckian, Keynesian and Marxist interpretations of the Phillips trade-off are then presented. Here the authors show how the relationship between inflation, unemployment and money described in these approaches accurately reflects the fundamental features of today's capitalist economies. In the final section a new Phillips curve is constructed, taking into account the non-accelerating inflation rate of unemployment and the hysteresis of it.Inflation, Unemployment and Money will be of interest to macroeconomists, post Keynesians and monetary and financial economists.Table of ContentsContents: Preface 1. The Origins: Phillips’s and Lipsey’s Contribution 2. Keynesians and Monetarists on the Phillips Curve 3. Neoclassical Interpretations of the Phillips Curve and the Microfoundations of Macroeconomics 4. The Phillips Curve and Stagflation 5. Unorthodox Interpretations of the Phillips Curve 6. Phillips Curve, Hysteresis and Keynesian Theory Bibliography Index

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Book SynopsisTax Policy provides a comprehensive collection of the most important and widely-cited articles on tax politics and policy. Essays by the leading political scientists, economists and lawyers in the field cover the key intellectual dilemmas and policy issues in the field of taxation.Topics covered include: the foundations of tax policy; an exploration of the public's attitude to taxes and taxation; the principles behind the making of tax policy; tax incentives and tax expenditure; the need for tax reform in the late 1980s and the form of these changes; and the relationship between internationalization and domestic tax policy choicesTable of ContentsContents Introduction Part I: Foundations of Tax Policy 1. A. Downs (1960), ‘Why the Government Budget Is Too Small in a Democracy’ 2. J.M. Buchanan and R.E. Wagner (1978), ‘The Political Biases of Keynesian Economics’ Part II: Public Opinion and Taxation 3. J. Citrin (1979), ‘Do People Want Something for Nothing: Public Opinion on Taxes and Government Spending’ 4. P. Beedle and P. Taylor-Gooby (1983), ‘Ambivalence and Altruism: Public Opinion about Taxation and Welfare’ 5. A. Lewis (1978), ‘Perceptions of Tax Rates’ Part III: Explaining the Tax Outcomes 6. J.E. Alt (1983), ‘The Evolution of Tax Structures’ 7. R. Rose (1985), ‘Maximizing Tax Revenue While Minimizing Political Costs’ 8. R.F. King (1983), ‘From Redistributive to Hegemonic Logic: The Transformation of American Tax Politics, 1894–1963’ 9. B. Haskel (1987), ‘Paying for the Welfare State: Creating Political Durability’ 10. C.J. Martin (1989), ‘Business Influence and State Power: The Case of U.S. Corporate Tax Policy’ 11. S. Steinmo (1989), ‘Political Institutions and Tax Policy in the United States, Sweden, and Britain’ 12. D.R. Cameron (1978), ‘The Expansion of the Public Economy: A Comparative Analysis’ Part IV: Tax Expenditures 13. S.S. Surrey (1970), ‘Tax Incentives as a Device for Implementing Government Policy: A Comparison with Direct Government Expenditures’ 14. B.I. Bittker (1969), ‘Accounting for Federal “Tax Subsidies” in the National Budget’ 15. P.R. McDaniel (1978), ‘Federal Income Tax Simplification: The Political Process’ 16. J.F. Witte (1983), ‘The Distribution of Federal Income Tax Expenditures’ Part V: Tax Reform 17. T.J. Reese (1979), ‘The Politics of Tax Reform’ 18. J.F. Witte (1986), ‘The Tax Reform Act of 1986: A New Era in Tax Politics?’ 19. G. Mucciaroni (1990), ‘Public Choice and the Politics of Comprehensive Tax Reform’ 20. J.G. Cullis, P.R. Jones and O. Morrissey (1993),‘The Charge of the Tax Brigade: A Case Study of Government Failure and Tax Reforms’ Part VI: Tax Policy in a Globalizing World 21. J. Bossons (1988), ‘International Tax Competition: The Foreign Government Response in Canada and Other Countries’ 22. D.R. Lee and R.B. McKenzie (1989), ‘ The International Political Economy of Declining Tax Rates’ 23. J.A. Pechman (1990), ‘The Future of the Income Tax‘ Name Index

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Book SynopsisManaging Public Debt combines a theoretical and empirical analysis of the advantages of issuing index-linked bonds and potential problems that may arise and how sovereign issuers should deal with them. International in its approach, this book will be especially welcomed in those countries where index-linked programmes are in operation or being discussed. It considers the experiences of the UK, Sweden and Italy, providing new insights which will be of special interest to economists and officials in the US Treasury who will shortly begin issuing index-linked bonds. Other issues discussed include the impact of index-linked bonds on the cost of public debt of sovereign issuers and the advantages of such bonds compared to conventional bonds; the market perspective on index-linked bonds in view of the European Monetary Union and alternative uses and strategic aspects of index-linked bonds.This important book will be invaluable to policymakers, government institutions, academics and postgraduate students as well as market practitioners.Trade Review'. . . many sovereign debt managers will find Managing Public Debt very useful.' -- Finance and Development'The book is international in its approach which should be particularly welcomed in those countries where index-linked programmes are in operation or being discussed.'– International Review of Administrative SciencesTable of ContentsContents: Introduction 1. Index-linked Government Securities: The UK Experience and Perspective (J. Townend) 2. Index-linked Bonds: The Swedish Experience (M. Persson) 3. Inflation-protected Retirement Plans (Z. Bodie) 4. Tax Smoothing with Price-index-linked Bonds: A Case Study of Italy and the United Kingdom (A. Missale) 5. Reducing the Cost of Government Debt: The Role of Index-linked bonds (S. Foresi, A. Penati, G. Pennacchi) 6. Index-linked bonds from an Academic, Market and Policy-making Standpoint (E. Barone, R.S. Masera) 7. Real Interest Rates and Inflation: An Ex-ante empirical Analysis (S. Kandel, A.R. Ofer, O. Sarig) 8. Who’s Afraid of Index-linked Bonds? (L. Pecchi, G. Piga) 9. Differences and Anologies Between Index-linked and Foreign-currency Bonds: A Theoretical and Empirical Analysis (F. Drudi, A. Prati) 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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Book SynopsisThe field of economic demography has expanded in recent years because of the perceived relevance of economic constraints to family formation and to demographic behaviour. [The increased availability of household surveys from countries at all levels of development and the advances of methods for analysing such data have encouraged empirical extensions and the testing of household demand theories.]This authoritative collection presents in two volumes some of the influential ideas which have helped to adapt economic theory and methods to analysing the determinants and consequences of demographic behaviour and to relating such behaviour to the investments in human capital which account for much of modern economic growth.It focuses on the following topics: the estimation of wage functions - a key building block for economic demography because it explains how human capital formation affects human productivity and contributes to economic growth; health and longevity, the second most notable source of human capital accumulation; the evolution of the household production model; cooperative and bargaining approaches to the household entity; models dealing with fertility and female labour supply; models which examine the problems of fertility and investments in child quality; an exploration of how gender affects schooling, health and wage-earning potential; the effect on wages of the size and skill of the labour supply; some historical aspects of economic demography; the effects of population growth on economic development; and questions of savings, inheritance and the economic consequences of an aging population.Table of ContentsContents: Acknowledgements • Introduction Volume I: Part I: Estimation of Wage Functions and Returns to Human Capital Part II: Health: Length of Life, Stature and Sickness Part III: Individual and Household Behavior: Production and Consumption Part IV: Family Coordination: Unified and Bargaining Approaches Volume II: Part I: Life Cycle Choices: Marriage, Fertility, and Postschooling Training Part II: Quality-Quantity Trade-Off: Fertility and Investments in Child Quality Part III: Gender Gap in Human Capital Part IV: Wage Structures by Cohort Size and Skills: Supplies and Demands Part V: Pre-Industrial Economic-Demography Equilibrium Part VI: Economic-Demography Interactions in Today’s Low-Income Countries Part VII: Savings, Intergenerational Exchange and Aging

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Book SynopsisPaul Dale Bush has been an imaginative and important contributor to the neo-institutionalist economic literature in the United States for over three decades. This is the first of two volumes presenting a tribute to this highly influential scholar.The majority of Paul Dale Bush's recent scholarly writings have addressed the clarification and refinement of the pragmatic instrumentalist model of inquiry. This book first reviews Dale Bush's main contributions to academic life and to neo-institutional scholarship. Internationally recognized contributors - Phillip Anthony O'Hara, Erkki Kilpinen, Geoffrey M. Hodgson, Kurt Dopfer, Warren J. Samuels, Edythe S. Miller, Ann L. Jennings and William Waller - then provide a penetrating analysis of the Veblen-based neo-institutionalist theoretical approach to inquiry and its reflection in social value theory.This book will be of great interest to postgraduate students and scholars in the field of institutional economics, political economy, history of economic thought, methodology and social value theory.Table of ContentsContents: 1. The Contribution of Paul Dale Bush to Academic Freedom and Institutional Economics 2. The Pragmatic Foundations of the Institutionalistic Method: Veblen’s Preconceptions and their Relation to Peirce and Dewey 3. Dichotimizing the Dichotomy: Veblen versus Ayres 4. On Veblen’s Coining of the Term ‘Neoclassical’ 5. Causality and Order in Economics: Foundational Contributions by G. Schmoller and W. Eucken 6. The Historical Quest for Principles of Valuation: An Interpretive Essay 7. Institutional Economics and Eternal Verities: A Contribution to the Discussion 8. Institutions and Social Valuation Index

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Book SynopsisThroughout his long career as a professional scholar, Paul Dale Bush has been a cogent theorist, a model practitioner and an ardent defender of academic freedom and of democratic practices. Institutionalist Theory and Applications is the second of two volumes celebrating his career and his contribution to neo-institutional economics.This volume presents contributions by a distinguished group of institutionalist scholars: Edythe S. Miller, Philip A. Klein, James A. Cypher, F. Gregory Hayden, John Groenewegen, Peter Soderbaum, Charles M.A. Clark, Catherine Kavanagh and Janice Peterson. The book explores the interdependence of theory and policy and applies institutional theory to several problem areas of governance and performance.This book will be of great interest to postgraduate students and academics in the field of institutional economics, evolutionary economics, political economy, history of economic theory, methodology, social economics, social policy and social value theory.Table of ContentsContents: Preface 1. Instrumental Inquiry and Democratic Governance 2. The Interdependence of Theory and Practice 3. Normative Macroeconomics 4. Financial Dominance in the US Economy 5. Normative Analysis of Instituted Processes 6. Changes in the Institution of Corporate Governance 7. Science, Ethics and Democracy 8. How are we Doing? 9. Institutional Economics in the Classroom Index

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Book SynopsisThis is the third and final volume written in honour of Bernard Corry and Maurice Peston by an internationally renowned group of experts, and focuses on the application of economics to policy advice.The contributors to this volume consider practical policy issues including labour market policy and the problem of unemployment, methodology and econometric analysis, taxation policy, industrial regulation, practical applications of transaction cost theory in the European Union, policy issues such as foreign direct investment and pension reform affecting transition economies and training policies in developing countries.Table of ContentsContents: Introduction Part I: Labour Markets and Employment 1. The Post-redundancy Experience and the Dynamics of Local Labour Market Adjustment 2. Flexible Labour Markets and Economic Performance 3. Firms’ Strategies and Cooperative Games Part II: Methodological Issues in Economic Policy 4. Problems of Time-series Econometrics 5. Why Firms Invest Less but Adopt Higher Capital Intensity as the Capital Stance Tightens 6. Do Shocks Matter? Part III: Policy Issues 7. Household Production, Human Capital and Optimal Linear Income Taxation 8. Ex Post Value Regulation of Pharmaceutical Prices 9. Timing of Payment Conventions for Consumer Purchases Part IV: Economic Policy, Transition and Development 10. China’s Overseas Investment 11. Pension Reform in Central and Eastern Europe 12. A Governmental Role in Training Markets in Developing Countries Index

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Book SynopsisThis major book presents an objective and penetrating economic analysis of stabilization and reform in Eastern Europe, combined with a compassionate plea for individual rights and solidarity.Janos Kornai - one of the most famous Hungarian economists of his generation - focuses on two main issues: first, the problems of stabilization and adjustment, which are painful but necessary conditions of sustainable growth and second, the reform of the 'premature welfare state' of Eastern European countries, which is disproportionately large in relation to the resources available and which was hitherto managed in a highly centralized, bureaucratic and paternalistic way.Struggle and Hope goes beyond most other books on the transition process by placing considerable emphasis on the understanding of the ethical implications and the historical roots of each problem, and also the political conditions and consequences of change. Although economic efficiency is extremely important, it is not the exclusive criterion; ethical principles of individual sovereignty and solidarity must also receive particular attention.Professor Kornai's insightful analysis will become required reading for all those concerned with the process of post-socialist transition.Trade Review'. . . he [the author] presents an interesting and original analysis of the transition to a post-socialist economy. . . . The book presents an illuminating analysis of the macroeconomic and social policy options in the process of change from a centrally planned, socialist economy to one based on the market and private enterprise.'Table of ContentsContents: 1. Eliminating the Shortage Economy: a General Analysis and Examination of Developments in Hungary 2. Lasting Growth as Top Priority: Macroeconomic Tensions and Government Economic Policy in Hungary 3. A Steep Road: an Interview by László Zsolt Szabó on the Stabilization Programme 4. The Dilemmas of Hungarian Economic Policy: An analysis of the Stabilization Programme 5. Paying the Bill for Goulash Communism: Hungarian Development and Macro Stabilization in a Political-Economy Perspective 6. Adjustment without Recession: A Case Study of Hungarian Stabilization 7. The Responsibility of the Individual and Society: An Interview by Mihály Laki on Social Issues 8. The Citizen and the State: Reform of the Welfare System Index

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Book SynopsisTransport is a fundamental component of all modern economies. Transport Policy presents a wide ranging collection of previously published articles which aim to provide the reader with an understanding of the main elements of transport policy.Topics covered include: the objectives of transport policy, policy options, policy analysis and, through a series of case studies, policy implementation. This volume will be of particular interest to those academics and policymakers seeking an overview of the most important issues in the modern transport policy arena.Trade Review'The original pagination is kept on top of the present volume for ease of reference, which is most useful . . . The contents are well-chosen, international and covers most pertinent areas of transport economics and policy. It is particularly interesting to read articles from the pre-Thatcher era, saying things ignored at the time . . . This book would be a valuable addition to any reference collection with an interest in transport policy per se, particularly those which do not hold collections of the academic transport journals.' -- Place

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