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3A1831633574.jsonld
Chapter 26 The economics of international aid
This paper presents an overview of the economics of international aid, highlighting the historical literature and the contemporary debates. It reviews the “trade-theoretic” and the “contract-theoretic” analytical literature, and the empirical and institutional literature. It demonstrates a great degree of continuity in...
[ "['oek']", "['sow']" ]
3A730043673.jsonld
Competition in Bidding Markets
The OECD Competition Committee debated competition in bidding markets in October 2006. Competition authorities become interested in auctions by a number of routes. In competition advocacy, they may advise other parts of government on how to design auctions in order to improve their efficiency—the degree of competition....
[ "['sow']", "['oek']", "['pae']", "['jur']" ]
3A1831653664.jsonld
Introduction to Handbook
The economics of education has flourished as a research field since the publication of Volumes I and II of the book. There has been a big upsurge in new research by economists on education and education policy. Although this study has predominantly had an empirical leaning, the chapters of this volume make clear that t...
[ "['pae']", "['oek']" ]
3A1831641658.jsonld
Chapter 27 Search
Search theory has provided a simple and robust laboratory that economic theorists have used to examine a wide variety of questions about the acquisition of information. Early work on search modeled an individual's searching decisions and drew inferences about the value of information and the nature of frictional unempl...
[ "['oek']", "['mat']" ]
3A730007502.jsonld
Indicator models of real GDP growth in the major OECD economies
Accurate and timely information on the current state of economic activity is an important requirement for the policymaking process. Delays in the publication of official statistics mean that a complete picture of economic developments within a particular period emerges only some time after that period has elapsed. Thus...
[ "['oek']" ]
3A1831633825.jsonld
Chapter 6 Reciprocity: Its Scope, Rationales, and Consequences
Reciprocity is one of the main basic social relations that constitute societies. It consists of being favourable to others because others are favourable to you (and not from an exchange in the strict sense). It rests on three possible rationales: (1) balance (comparison, matching), often related to equality and fairnes...
[ "['oek']" ]
3A1831651785.jsonld
Chapter 12. Epistemic Game Theory
Epistemic game theory formalizes assumptions about rationality and mutual beliefs in a formal language, then studies their behavioral implications in games. Specifically, it asks: what do different notions of rationality and different assumptions about what players believe about…what others believe about the rationalit...
[ "['oek']", "['mat']" ]
3A1831643863.jsonld
Chapter 55 Schooling in Developing Countries: The Roles of Supply, Demand and Government Policy
In developing countries, rising incomes, increased demand for more skilled labor, and government investments of considerable resources on building and equipping schools and paying teachers have contributed to global convergence in enrollment rates and completed years of schooling. Nevertheless, in many countries substa...
[ "['oek']", "['pae']" ]
3A1831643138.jsonld
Chapter 44 Structural adjustment, stabilization and policy reform: Domestic and international finance
This chapter discusses the role of structural adjustment, stabilization, and policy reform on domestic and international finance. Structural adjustment programs generally start with a conventional stabilization program, intended to restore the viability of the current account and the budget, but they are distinguished ...
[ "['oek']" ]
3A1831637715.jsonld
Chapter 61 Macroeconomics, Macrosectoral Policies, and Agriculture in Developing Countries
This handbook devotes most of its chapters to reviewing sectoral policies related to agriculture. This chapter moves to a macroeconomic and macrosectoral view of the policy framework and its possible interaction with the agricultural sector. A previous handbook (Gordon Rausser and Bruce Gardner, eds., 2002) devoted a w...
[ "['hor']", "['oek']" ]
3A1831634716.jsonld
Chapter 25. Inequality, Technology and the Social Contract
The distribution of human capital and income lies at the center of a nexus of forces that shape a country’s economic, institutional and technological structure. I develop here a unified model to analyze these interactions and their growth consequences. Five main issues are addressed. First, I identify the key factors t...
[ "['oek']" ]
3A1831650274.jsonld
Chapter 17. Taxes in Cities
Most cities enjoy some autonomy over how they tax their residents, and that autonomy is typically exercised by multiple municipal governments within a given city. In this chapter, we document patterns of city-level taxation across countries, and we review the literature on a number of salient features affecting local t...
[ "['oek']", "['jur']" ]
3A1831653796.jsonld
Chapter 2. Nonproduction Benefits of Education : Crime, Health, and Good Citizenship
A growing body of work suggests that education offers a wide range of benefits that extend beyond increases in labor market productivity. Improvements in education can lower crime, improve health, and increase voting and democratic participation. This chapter reviews recent developments on these “nonproduction” benefit...
[ "['pae']", "['oek']" ]
3A1831651149.jsonld
Chapter 2. Multinational Firms and the Structure of International Trade
This chapter reviews the state of the international trade literature on multinational firms. This literature addresses three main questions. First, why do some firms operate in more than one country while others do not? Second, what determines in which countries production facilities are located? Finally, why do firms ...
[ "['oek']", "['pae']" ]
3A1831639009.jsonld
Chapter 18 The economics of disability and disability policy
We discuss and critique the main lines of economic research that address the economic status and behavior of the working-age population of people with disabilities. We define this population as those with physical or mental limitations that impede their daily activities or their productivity on the job. Using this defi...
[ "['oek']", "['sow']" ]
3A1831645076.jsonld
Chapter 3 Spatial aspects of environmental economics
Environmental problems have a spatial dimension because environmental media are defined over space. Environmental quality at one point in space is influenced by the spatial transfer of pollutants and the interdependence of spatial points via economic mechanisms. This chapter discusses the problem of environmental alloc...
[ "['oek']", "['tec']", "['cet']" ]
3A1831648415.jsonld
Chapter 14. Local Labor Markets
I examine the causes and the consequences of differences in labor market outcomes across local labor markets within a country. The focus is on a long-run general equilibrium setting, where workers and firms are free to move across localities and local prices adjust to maintain the spatial equilibrium. In particular, I ...
[ "['oek']" ]
3A1831636123.jsonld
Chapter 29 The Economics of Biodiversity
The conservation of biodiversity is a major environmental issue, one that promises to remain at or near the top of the environmental agenda for the foreseeable future. The loss of biodiversity affects human welfare as well as being lamentable for its own sake. Humans depend on natural systems to produce a wide variety ...
[ "['oek']", "['bio']" ]
3A1831634090.jsonld
Chapter 3 Forecast Evaluation
This chapter summarizes recent literature on asymptotic inference about forecasts. Both analytical and simulation based methods are discussed. The emphasis is on techniques applicable when the number of competing models is small. Techniques applicable when a large number of models is compared to a benchmark are also br...
[ "['oek']", "['mat']" ]
3A1831638363.jsonld
Chapter 13 Commodity futures and options
Organized exchanges have evolved methods for enforcing contracts, which allow the contracts themselves to be traded at low cost. Theorists have modeled futures contracts as tools for risk management, despite an extensive empirical literature that does not support predictions about bias in prices or speculators' behavio...
[ "['oek']" ]
3A1831643111.jsonld
Chapter 46 The contributions of endogenous growth theory to the analysis of development problems: An assessment
The old growth theory influenced the theory of economic development in several ways. Starting with the basic HarrodDomar structure of capacity growth, development economists paid attention to the constraints posed by savings and the efficiency with which savings are utilized. Growth theory has been liberated from the c...
[ "['oek']" ]
3A1831631989.jsonld
Chapter 15 Antitrust
This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of current economic knowledge an...
[ "['jur']", "['oek']" ]
3A1831639459.jsonld
Chapter 14 Resuscitating real business cycles
The Real Business Cycle (RBC) research program has grown specularly over the last decade, as its concepts and methods have diffused into mainstream macroeconomics. Yet, there is increasing skepticism that technology shocks are a major source of business fluctuations. This chapter exposits the basic RBC model and shows ...
[ "['oek']" ]
3A1831643774.jsonld
Introduction
This publication titled Handbook of Development Economics, volume 4takes stock of some of the newer trends and their implications for research in the field and our understanding of economic development. First, the micro-economic orientation of the field is increasingly evident, and is reflected here. Economic behavior ...
[ "['oek']" ]
3A1831642468.jsonld
Chapter 10 The supply of money and the control of nominal income
This chapter discusses various aspects of the relation between the supply of money and nominal income and their implications for the conduct of monetary policy. It focuses on the traditional versions of the monetary mechanismthe mechanism through which the monetary authority endeavors to control nominal income. In thes...
[ "['oek']" ]
3A1831647974.jsonld
Chapter 10 Producers theory
The producers theory is concerned with the behavior of firms in hiring and combining productive inputs to supply commodities at appropriate prices. Two sets of issues are involved in this process: one is the technical constraints, which limit the range of feasible productive processes, while the other is the institutio...
[ "['oek']", "['mat']" ]
3A1831643812.jsonld
Chapter 60 Evaluating Social Programs with Endogenous Program Placement and Selection of the Treated
This chapter considers methods for evaluating the impact of social programs in the presence of nonrandom program placement or program selection. It first presents the evaluation problem as a missing data problem and then considers various solutions proposed in the statistics and econometrics literature. For ex post eva...
[ "['oek']", "['mat']", "['sow']" ]
3A1831632012.jsonld
Chapter 12 Corporate Law and Governance
This chapter surveys the theoretical and empirical research on the main mechanisms of corporate law and governance, discusses the main legal and regulatory institutions in different countries, and examines the comparative governance literature. Corporate governance is concerned with the reconciliation of conflicts of i...
[ "['oek']", "['jur']", "['pae']" ]
3A183164195X.jsonld
Chapter 1 The game of chess
The game of chess has sometimes been referred to as the Drosophila of artificial intelligence and cognitive science research a standard task that serves as a test bed for ideas about the nature of intelligence and computational schemes for intelligent systems. Both machine intelligence how to program a computer to play...
[ "['mat']", "['inf']", "['oek']" ]
3A1831633876.jsonld
Chapter 1 Introduction to the Economics of Giving, Altruism and Reciprocity
Altruism, giving and pro-social conduct, and reciprocity, are the basis of the existence and performance of societies, through their various occurrences: in families; among the diverse motives of the political and public sector; as the general respect and moral conduct which permit life in society and exchanges; for re...
[ "['sow']", "['oek']" ]
3A730015998.jsonld
An empirical investigaton of political economy factors behind structural reforms in OECD countries
This paper was originally prepared for the OECD Working Party No. 1 under the authority of the OECD’s Economic Policy Committee. Jens Høj and Giuseppe Nicoletti work for the OECD Economics Department as a senior economist in the Country Studies Branch and as Head of the Structural Policy Analysis Division 1, respective...
[ "['oek']" ]
3A1831643944.jsonld
Chapter 47 Economic Development and the Decline of Agricultural Employment
This chapter considers the linkages between agricultural development and rural non-farm activities. The chapter is motivated by growing evidence that non-farm activities provide an increasingly important share of rural incomes in many low-income questions, questions about whether increasing agricultural productivity is...
[ "['oek']", "['hor']" ]
3A73004145X.jsonld
Loyalty and Fidelity Discounts and Rebates
As with other policies offering lower prices to at least some buyers, loyalty and fidelity discounts are generally pro-competitive and beneficial to consumers even though they may harm certain competitors. Potential problems exist, however, when such discounts are employed in ways that reduce price transparency, exclud...
[ "['sow']", "['oek']", "['pae']", "['jur']" ]
3A183164746X.jsonld
Chapter 2 The normative theory of international trade
Normative economics is concerned with making welfare judgments about policies and economic events. This chapter discusses government policies. In the case of trade theory, commercial policy-normative economics embraces the study of the welfare consequences of various events when policies are constant. The chapter cover...
[ "['oek']" ]
3A1831635070.jsonld
Chapter 31 Cultural Districts and Their Role in Developed and Developing Countries
The aim of this chapter is to analyze the economic properties and the institutions governing the start-up and evolution of cultural districts. Cultural districts are a good example of economic development based on localized firms and local culture. The first part of the chapter (Sections 1–2) reviews the relationships ...
[ "['oek']", "['geo']" ]
3A730015904.jsonld
The Contribution of Housing Markets to Cyclical Resilience
This paper examines the linkages between housing markets and the business cycle in OECD countries, focusing on how differences in the degree of resilience to economic shocks can be affected by the structural characteristics of housing and mortgage markets. The paper focuses specifically on: the transmission channel fro...
[ "['oek']" ]
3A1831631954.jsonld
Chapter 18 Antidiscrimination Law
This essay provides an overview of the central theoretical law and economics insights and empirical findings concerning antidiscrimination law across a variety of contexts including discrimination in labor markets, housing markets, consumer purchases, and policing. The different models of discrimination based on animus...
[ "['jur']", "['oek']", "['sow']" ]
3A1831638908.jsonld
Chapter 28 Regulation of prices and investment in hospitals in the United States
With the spread of cost-based hospital payment systems in the United States in the 1960s, and the implementation of the Medicare and Medicaid programs in 1966, rapidly rising hospital costs imposed unexpected pressures on Federal and state budgets and generated a demand for regulatory interventions. Large numbers of st...
[ "['oek']", "['meda']" ]
3A730015491.jsonld
Sub-central government fiscal rules
Rules constraining the discretionary powers of budget policymakers have become widespread among OECD economies, and the expanding role played by decentralised institutions in providing public services has led to their increasing adoption at the sub-central level.
[ "['oek']", "['sow']" ]
3A729993736.jsonld
Corporate sector vulnerability and aggregate activity
The health of a firm’s balance sheet potentially plays a role in its decisions to invest and through that channel, aggregate activity can be affected. Several authors have established a theoretical link based on the notion that the value of equity can be collateralised for business loans used to fund capital accumulati...
[ "['oek']" ]
3A1831642603.jsonld
Chapter 26 The economics of health, safety, and environmental regulation
Public concern and scientific research on health, safety, and environmental externalities (HSE) lured a number of economists to apply their tools and models to these issues. The materials balance model and the environmental models of are examples of incorporating HSE externalities into standard economic models. These e...
[ "['oek']" ]
3A1831631709.jsonld
Chapter 4. Global Demographic Trends : Consumption, Saving, and International Capital Flows
In this chapter we review the recent literature on the effects of changing global demographic trends on consumption, factor prices and social security. We also construct an overlapping generation model with four regions of the world. The model is calibrated so that we match some basic statistics of the last few decades...
[ "['oek']", "['geo']" ]
3A1831639319.jsonld
Chapter 23 Issues in the design of monetary policy rules
This chapter begins with a number of important preliminary issues including the distinction between rules and discretion in monetary policy; the feasibility of committed rule-like behavior by an independent central bank; and optimal control vs. robustness strategies for conducting research. It then takes up the choice ...
[ "['oek']", "['mat']" ]
3A730011224.jsonld
Construction Industry
The OECD Competition Committee debated issues related to the Construction Industry in June 2008. This roundtable addressed the special characteristics of the construction industry as they relate to competition law and policy. Construction is a critical sector in OECD economies because it builds and maintains the struct...
[ "['sow']", "['oek']", "['pae']", "['jur']" ]
3A730037924.jsonld
International Regulatory Activities
This revised proposal,1 adopted by the European Commission on 26 November 2008, replaces and updates the one tabled in September 2004.2 It is based on the principles and requirements of both the Convention on Nuclear Safety3 (CNS) and the International Atomic Energy Agency (IAEA) Safety Fundamentals.
[ "['phy']" ]
3A1831654644.jsonld
Chapter 74. The Place of Nature in Economic Development
In this chapter both theory and empirics are used to show that our picture of the processes of economic development changes radically when nature is introduced as a capital asset. Particular features of institutions that fashion societies' use of the natural-resource base are identified and analyzed. It is also shown t...
[ "['oek']", "['mas']" ]
3A323412904.jsonld
Hecke Algebras, Difference Operators, and Quasi-Symmetric Functions
We define a new action of the symmetric group and its Hecke algebra on polynomial rings whose invariants are exactly the quasi-symmetric polynomials. We interpret this construction in terms of a Demazure character formula for the irreducible polynomial modules of a degenerate quantum group. We use the action of the gen...
[ "['mat']" ]
3A1831651424.jsonld
Chapter 3. Contemporary Experimental Aesthetics: Procedures and Findings
An aesthetic experience with visual art and the resulting perceived ‘beauty’ of it depend on a complex interaction among characteristics of the art object, the observer, and the physical, social, and historical contexts in which the experience takes place. Experimental aesthetics is devoted to the study of forms of beh...
[ "['pae']" ]
3A729989798.jsonld
The Decommissioning of Asse II : Burden of the Past in the Federal Republic of Germany
Asse II, a salt mine in the salt formation of the Upper Permian near Wolfenbüttel, has been the subject of heated debates on environmental policy and law in the Federal Republic of Germany for some time. Until 1995, Asse II was used as a trial facility for the development of techniques for the final disposal of low and...
[ "['cet']", "['ber']" ]
3A1831637405.jsonld
Chapter 10 Regional econometric and dynamic models
This chapter focuses on regional econometric and dynamic models. Regional econometric models are concerned with the description, analysis, forecasting, and policy appraisal of economic development within a set of localities or regions. Such models concern not only internal structures and relationships, but also interre...
[ "['oek']" ]
3A730031861.jsonld
National Legislative and Regulatory Activities
BELARUS Amendments to laws on the use of atomic energy (2009) Criminal law on acts concerning the use of radioactive sources and administrative law for non-criminal violations of radiation safety requirements (2009) EGYPT Law on activities in the nuclear and radiation field (2010) FRANCE Decree establishing a Committee...
[ "['phy']" ]
3A1831647575.jsonld
Chapter 34 The intertemporal approach to the current account
A country's current-account balance over any time period is the increase in Residents' claims on foreign incomes or outputs, less the increase in similar foreign-owned claims on home income or output. Thus, in theory, the current account includes not only exports less imports (broadly defined to include all the income ...
[ "['oek']" ]
3A1831653125.jsonld
Chapter Eleven. Health Care Spending Risk, Health Insurance, and Payment to Health Plans
This chapter will deal with the actual and efficient functioning of health insurance in settings where risk (expected value) of medical spending or insurance benefits varies across individuals at a given point in time or over time for a given individual. It will deal with equilibrium in insurance markets with risk vari...
[ "['oek']", "['mat']", "['meda']" ]
3A1831642808.jsonld
Chapter 10 Price discrimination
As we indicated at the beginning of this chapter, price discrimination is a ubiquitous phenomenon. Nearly all firms with market power attempt to engage in some type of price discrimination. Thus, the analysis of the forms that price discrimination can take and the effects of price discrimination on economic welfare are...
[ "['oek']" ]
3A1831632306.jsonld
3. General Equilibrium and Multiple Market Systems
Market interdependence is pervasive through all economies and it has attracted interest since the beginning of economics. Throughout history theories about the nature and consequences of interdependence have been the foundation of powerful and conflicting philosophies. The modern theory of general equilibrium that emerg...
[ "['oek']", "['mat']" ]
3A730001660.jsonld
The Convention on Supplementary Compensation for Nuclear Damage : Catalyst for a Global Nuclear Liability Regime
Nuclear power can help address many of our world’s most pressing concerns. It is a clean, reliable, economic source of energy that can be used to meet a significant portion of current demand for energy, as well as anticipated future increases in demand. Increased reliance on nuclear power to generate electricity will p...
[ "['phy']", "['mas']" ]
3A1831654563.jsonld
Chapter 2. On the Numerical Solution of Equilibria in Auction Models with Asymmetries within the Private-Values Paradigm
We describe and compare numerical methods used to approximate equilibrium bid functions in models of auctions as games of incomplete information. In such games, private values are modeled as draws from bidder-specific type distributions and pay-your-bid rules are used to determine transactions prices. We provide a form...
[ "['mat']", "['oek']" ]
3A730010945.jsonld
Competition Law and Policy in Finland
Competition policy was at the centre of market-driven reforms since the late 1980s that restructured Finland’s network monopolies and eliminated the many vestiges of corporatist control. The pace of change is slower now, as the role of market institutions in providing traditional government services presents novel and ...
[ "['oek']", "['pae']", "['sow']", "['jur']" ]
3A1831643006.jsonld
Chapter 35 Market Structure: Theory and Evidence
This chapter reviews the literature which has developed around the ‘bounds approach’ to market structure over the past fifteen years. The focus of this literature lies in explaining cross-industry differences in concentration, and in the size distribution of firms. One of the main ideas involved is that a study of thes...
[ "['oek']" ]
3A1783723297.jsonld
The Blackwell Companion to Eastern Christianity. Edited by Ken Parry
This is the second volume of a projected three-part survey of the churches of Eastern Christendom. (The first part, a dictionary, was published in 1999 and the third will be a collection of primary sources.) It consists of twenty-four essays, providing accounts of the different national and regional church traditions a...
[ "['rel']" ]
3A323415296.jsonld
Convergence and Compactness Properties for a Family of 2-D Discontinuous Signals
In this paper, convergence and compactness properties for sets of possibly discontinuous functions on \mathbb{R}2̂ are discussed. The issue appears to be relevant with respect to optimization and identification problems for 2-D images.Several convergence properties are provided and compared for a class of discontinuous...
[ "['mat']" ]
3A1831634627.jsonld
Subject Index
This chapter lists the terms that have contributed to the book Handbook of Economic Growth , such as abatement, absorptive capacity, accumulation mechanism, and others. These terms have been mentioned along with the page numbers in which they have appeared in the bookfor the ease of the reader.
[ "['oek']" ]
3A1831634929.jsonld
Chapter 4 From Stagnation to Growth: Unified Growth Theory
The transition from stagnation to growth and the associated phenomenon of the great divergence have been the subject of an intensive research in the growth literature in recent years. The discrepancy between the predictions of exogenous and endogenous growth models and the process of development over most of human hist...
[ "['oek']" ]
3A1831634619.jsonld
Preface to the Handbook of Economic Growth
The chapter presents the preface of the publication Handbook of Economic Growth, which is designed to communicate the state of modern growth research. The handbook consists of 28 chapters, and is divided into six parts. Part I lays out the theoretical foundations. The first chapter surveys the neo -classical and AK mod...
[ "['oek']" ]
3A1831644495.jsonld
Chapter 28. The Economic Analysis of Immigration
The study of labor flows across labor markets is a central ingredient in any discussion of labor market equilibrium. These labor flows help markets reach a more efficient allocation of resources. This paper surveys the economic analysis of immigration. It investigates the determinants of the immigration decision by wor...
[ "['oek']", "['geo']" ]
3A1831636727.jsonld
Chapter 36 Urban areas with decentralized employment: Theory and empirical work
This chapter discusses theoretical and applied research in urban economics on decentralized cities, i.e., cities in which employment is not restricted to the central business district. The first section discusses informally the incentives that firms face to suburbanize. The next section summarizes the theoretical liter...
[ "['oek']" ]
3A1831652889.jsonld
Chapter 11. Financial Intermediation, Markets, and Alternative Financial Sectors
We provide a comprehensive review of firms’ financing channels (internal and external, domestic and international) around the globe, with the focus on alternative finance—financing from all the non-market, non-bank external sources. We argue that while traditional financing channels, including financial markets and ban...
[ "['oek']" ]
3A1831639629.jsonld
Chapter 2 Monetary policy shocks: What have we learned and to what end?
This chapter reviews recent research that grapples with the question: What happens after an exogenous shock to monetary policy? We argue that this question is interesting because it lies at the center of a particular approach to assessing the empirical plausibility of structural economic models that can be used to thin...
[ "['oek']" ]
3A1831634120.jsonld
Preface
The chapters in this volume were designed to cover the broad range of existing research and to suggest productive lines of development. However, even the relatively short production lags in these volumes imply that a number of new and exciting works are only hinted at in the chapters. In short, there is much more work ...
[ "['mat']", "['bio']", "['lit']", "['rest']", "['phy']", "['pae']", "['lin']" ]
3A1831652935.jsonld
Chapter 6. Law and Finance After a Decade of Research
In the last dozen years, economists have produced a considerable body of research suggesting that the historical origin of a country’s laws is highly correlated with a broad range of its legal rules and regulations, as well as with economic outcomes. Much of this research has dealt with rules governing investor protect...
[ "['oek']", "['jur']" ]
3A1831654733.jsonld
Chapter 65. Financial Globalization and Economic Policies
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality, and trade openness appear to help developing countries de...
[ "['oek']", "['sow']" ]
3A183163192X.jsonld
Chapter 21 Experimental Study of Law
This chapter surveys literature on experimental law and economics. Long the domain of legally minded psychologists and criminologists, experimental methods are gaining significant popularity among economists interested in exploring positive and normative aspects of law. Because this literature is relatively new among l...
[ "['oek']", "['jur']" ]
3A1831635704.jsonld
Chapter 10 Arbitrage, state prices and portfolio theory
Neoclassical financial models provide the foundation for our understanding of finance. This chapter introduces the main ideas of neoclassical finance in a single-period context that avoids the technical difficulties of continuous-time models, but preserves the principal intuitions of the subject. The starting point of ...
[ "['oek']" ]
3A1831649187.jsonld
Chapter Nineteen. Nonbinary Social Choice
Economists have used the term “nonbinary” to describe both choice functional nonbinariness (choice functions that cannot be rationalized as the maximizing outcome of a binary preference relation) and structural nonbinariness (the structure of the model dictates that pairs of alternatives do not belong to the domain of ...
[ "['oek']" ]
3A1831639599.jsonld
Chapter 5 Numerical solution of dynamic economic models
This chapter is concerned with numerical simulation of dynamic economic models. We focus on some basic algorithms and assess their accuracy and stability properties. This analysis is useful for an optimal implementation and testing of these procedures, as well as to evaluate their performance. Several examples are prov...
[ "['oek']", "['mat']" ]
3A1831644401.jsonld
Introduction to the series
This chapter provides an introduction to the Handbooks in Economics series. The aim of this series is to produce Handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. Each Handbook provide...
[ "['oek']", "['pae']", "['mat']" ]
3A730011631.jsonld
National legislative and regulatory activities
Belgium – Amendment of the Act on classification and security clearances, certifications and security notifications Czech Republic – Resolution of the government of the Czech Republic on the time schedule of preparatory works for enlarging the nuclear power plant Temelín Finland – Temporary Amendment to the Nuclear Lia...
[ "['phy']" ]
3A1831636484.jsonld
Chapter 6. The Theory of Pollution Policy
Physically, pollution occurs because it is virtually impossible to have a productive process that involves no waste; economically, pollution occurs because polluting is less expensive than operating cleanly. This chapter explores the sources and consequences of, and remedies for, pollution and associated environmental ...
[ "['oek']", "['cet']", "['rest']" ]
3A1831639173.jsonld
Chapter 6 Income poverty in advanced countries
This chapter reviews definitional issues that arise in assessing the extent of, and change in, poverty in western industrialized countries, including the choice of resource, level of poverty line and appropriate adjustments for the size and type of the income-sharing unit. The chapter also reviews the existing empirica...
[ "['oek']" ]
3A1831636190.jsonld
Chapter 22 National Income and the Environment
In this chapter, we review the concept of national income and the economic theory of national income accounting. There are two building blocks – the ideas of Fisher, Lindahl, Hicks about income as an expenditure level that can be continued into the future, and the concept of income as a welfare measure that emerges fro...
[ "['oek']" ]
3A730011976.jsonld
Triangular co-operation and aid effectiveness
Can triangular co-operation make aid more effective? Judging by recent international declarations, governments think it can. The underlying assumption is that better results are achieved when Southern partners and “traditional” donors (i.e. those that gather in the OECD Development Assistance Committee) join forces thr...
[ "['oek']", "['sow']" ]
3A1831649748.jsonld
Chapter 8. Radio
This chapter surveys the literature on the economics of radio, focusing on the broadcast industry in the United States. The first parts of the chapter provide a history of the radio industry and its regulation, and a guide to the data available for empirical research. The next part surveys the large empirical literatur...
[ "['oek']" ]
3A1831636018.jsonld
Chapter 2. Ecology and economics in the science of anthropogenic biosphere change
This chapter considers the ways in which research at the intersection of ecology and economics has strengthened our understanding of anthropogenic biosphere change. Three dimensions of the problem are addressed. The first is the linkages between the carrying and assimilative capacity of the environment and the substitu...
[ "['oek']", "['bio']", "['cet']" ]
3A1831649349.jsonld
Chapter 11. Privacy and the Internet
This chapter summarizes the fundamental questions underlying the economics of privacy. It highlights the tension between the multifaceted concept of privacy as commonly used in policy debates and its conceptualization as part of a utility function. The chapter then sets out new challenges for the economics of privacy i...
[ "['oek']", "['jur']", "['sow']" ]
3A1831630702.jsonld
Chapter 6. Boards, and the Directors Who Sit on Them
Boards of directors are intellectually interesting; the literature on boards has academic impact and there is substantial scope for this literature to have policy impact. I illustrate these points by combining a select review of the literature with evidence from a variety of data sets. Boards are difficult to study—whi...
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Chapter 22 Reciprocity, altruism, and cooperative production
Economists believe that a problem of team production results from the desirability of production in (sometimes large) groups, the difficulty of rewarding individual group members based on their (difficult or impossible to measure) individual contributions, and the presumed interest of each individual in avoiding effort...
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Chapter 18 Inflation: Theory and evidence
This chapter presents a general overview of the subject of inflation, both in terms of relevant theory and evidence regarding competing hypotheses. During the years that have passed since the preparation of the ambitious survey article, the nature of research in monetary economics has changed considerably(1) rational e...
[ "['oek']" ]
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Chapter 7. Executive Compensation: A Survey of Theory and Evidence
This paper reviews the theoretical and empirical literature on executive compensation. We start by presenting data on the level of CEO and other top executive pay over time and across firms, the changing composition of pay; and the strength of executive incentives. We compare pay in U.S. public firms to private and non...
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Chapter 20 Pre-School, Day Care, and After-School Care: Who's Minding the Kids?
The majority of children in the US and many other high-income nations are now cared for many hours per week by people who are neither their parents nor their school teachers. The role of such pre-school and out-of-school care is potentially two-fold: First, child care makes it feasible for both parents or the only pare...
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Chapter 10. Monetary Policy and Unemployment
Much recent research has focused on the development and analysis of extensions of the New Keynesian framework that model labor market frictions and unemployment explicitly. This chapter describes some of the essential ingredients and properties of those models, and their implications for monetary policy.
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Subject Index
This chapter lists the terms that have contributed to the book, Handbooks in Economics , such as absenteeism, absorbing states, acculturation processes, and others. These terms have been mentioned along with the page numbers in which they appear in the bookfor the ease of the reader.
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Chapter 54 Variations on the shapley value
This survey captures the main contributions in the area described by the title that were published up to 1997. (Unfortunately, it does not capture all of them.) The variations that are the subject of this chapter are those axiomatically characterized solutions which are obtained by varying either the set of axioms that...
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Chapter 1. Microeconometric models of consumer demand
A long literature has developed econometric methods for estimating individual-consumer-level demand systems that accommodate corner solutions. The increasing access to transaction-level customer purchase histories across a wide array of markets and industries vastly expands the prospect for improved customer insight, m...
[ "['oek']" ]
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Chapter 27. The Effect of Economic Growth on Social Structures
Changes in social structures occurring during the process of economic growth can be considered direct consequences of this process, while other changes are caused by factors such as technological progress, that affect simultaneously social structures and growth. This chapter focuses on that part of the circular argumen...
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Chapter 47 Sorting and voting: A review of the literature on urban public finance
This chapter reviews the literature on the boundary between urban economics and local public finance, defined as research that considers both a housing market and the market for local public services. The first part of the chapter considers positive theories. This part presents the consensus model of the allocation of ...
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Chapter 9 Consumer theory
The main objective of consumer theory is to determine the impact on observable demands for commodities of alternative assumptions on the objectives, on the behavioral rules of the consumer, and on the constraints that they faces while making a decision. The chapter explains that the traditional model of the consumer ta...
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Competition Advocacy : Challenges for Developing Countries
Competition advocacy is especially critical for developing countries as their economic policies are undergoing fundamental market driven changes. Prerequisites for effective competition advocacy by a competition agency include a significant degree of independence from political influence, sufficient resource to support...
[ "['oek']", "['pae']", "['sow']", "['jur']" ]
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Chapter 3. Macroeconomic Regimes and Regime Shifts
Many economic time series exhibit dramatic breaks associated with events such as economic recessions, financial panics, and currency crises. Such changes in regime may arise from tipping points or other nonlinear dynamics and are core to some of the most important questions in macroeconomics. This chapter surveys the l...
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Chapter 35 Equity in health
Equity in health has to be distinguished from equity in access to health care, or equity in the distribution of health care resources. We take as a working definition of health for our purposes the number of quality adjusted life years that a person may expect to enjoy over his or her lifetime. Although we mostly follo...
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Chapter 14. US Housing Policy
Governments throughout the world intervene heavily in housing markets, and most have multiple policies to pursue multiple goals. This chapter deals with two of the largest types of housing policies in the United States, namely, low-income rental assistance and policies to promote homeownership through interventions in ...
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