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['Chapter 67 Linking the Theory with the Data: That is the Core Problem of International Economics']
['The greatest problem for empirical analysis is how best to allow the context to affect the inferences. Econometric theory presupposes contextual “restrictions” that can be taken as given or assigned a probability distribution. These contextual inputs are rarely available. I illustrate this point with a review of the empirical work in international economics which has focused not on properties of estimators but instead how best to link the theory with the data. I argue that the two errors we should worry about are not rejecting a true null or accepting a false null but rather taking the theory too seriously and not taking the theory seriously enough.']
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3A1831646757.jsonld
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When multiple inputs or outputs are involved, there is the problem of choosing among alternative functional forms. The axiomatic and economic approaches to index formula choice are reviewed. In addition, we briefly cover the Divisia index number approach and growth accounting, including the KLEMS (capital, labor, energy, materials and services) approach. The gross output measures of the KLEMS approach are contrasted with value added output measures such as GDP. Also, an alternative family of revenue function based productivity growth indexes proposed by Diewert, Kohli and Morrison (DKM) is outlined. The DKM approach facilitates the decomposition of productivity growth into economically meaningful components. 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['Chapter 66 The Measurement of Productivity for Nations']
['This chapter covers the theory and methods for productivity measurement for nations. Labor, multifactor and total factor productivity measures are defined and are related to each other and to gross domestic product (GDP) per capita. Their growth over time and relative counterparts are defined as well. Different conceptual meanings have been proposed for a total factor productivity growth (TFPG) index. These are easiest to understand for the case in which the index number problem is absent: a production process that involves one input and one output (a 1–1 process). It is easily seen that four common concepts of TFPG all lead to the same result in the 1–1 case. Moving on to a general N input, M output production scenario, we demonstrate that a Paasche, Laspeyres or Fisher index number formula provides a measure for all four of the concepts of TFPG introduced for the 1–1 case. This is an advantage of the Paasche–Laspeyres–Fisher family of formulas. When multiple inputs or outputs are involved, there is the problem of choosing among alternative functional forms. The axiomatic and economic approaches to index formula choice are reviewed. In addition, we briefly cover the Divisia index number approach and growth accounting, including the KLEMS (capital, labor, energy, materials and services) approach. The gross output measures of the KLEMS approach are contrasted with value added output measures such as GDP. Also, an alternative family of revenue function based productivity growth indexes proposed by Diewert, Kohli and Morrison (DKM) is outlined. The DKM approach facilitates the decomposition of productivity growth into economically meaningful components. This approach is useful, for example, for examining the effects of changes in the terms of trade on productivity growth.']
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3A1831646757.jsonld
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['Chapter 66 The Measurement of Productivity for Nations']
['This chapter covers the theory and methods for productivity measurement for nations. Labor, multifactor and total factor productivity measures are defined and are related to each other and to gross domestic product (GDP) per capita. Their growth over time and relative counterparts are defined as well. Different conceptual meanings have been proposed for a total factor productivity growth (TFPG) index. These are easiest to understand for the case in which the index number problem is absent: a production process that involves one input and one output (a 1–1 process). It is easily seen that four common concepts of TFPG all lead to the same result in the 1–1 case. Moving on to a general N input, M output production scenario, we demonstrate that a Paasche, Laspeyres or Fisher index number formula provides a measure for all four of the concepts of TFPG introduced for the 1–1 case. This is an advantage of the Paasche–Laspeyres–Fisher family of formulas. When multiple inputs or outputs are involved, there is the problem of choosing among alternative functional forms. The axiomatic and economic approaches to index formula choice are reviewed. In addition, we briefly cover the Divisia index number approach and growth accounting, including the KLEMS (capital, labor, energy, materials and services) approach. The gross output measures of the KLEMS approach are contrasted with value added output measures such as GDP. Also, an alternative family of revenue function based productivity growth indexes proposed by Diewert, Kohli and Morrison (DKM) is outlined. The DKM approach facilitates the decomposition of productivity growth into economically meaningful components. This approach is useful, for example, for examining the effects of changes in the terms of trade on productivity growth.']
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16
3A1831646781.jsonld
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['This chapter presents a unified set of estimation methods for fitting a rich array of models describing dynamic relationships within a longitudinal data setting. The discussion surveys approaches for characterizing the micro dynamics of continuous dependent variables both over time and across individuals, focusing on two flexible sets of empirical specifications: dynamic simultaneous equations models incorporating error-components structures, and autoregressive quantile models. The chapter is motivated by the principle that, whenever possible, estimation methods should rely on routines available in familiar software packages to make them accessible to a wide range of practitioners. Conventional method-of-moments procedures offer a general apparatus for estimating parameters of panel-data specifications, though one must introduce a series of modifications to overcome challenges arising from: (1) use of unbalanced data structures, (2) weighting to account for stratified sampling inherent in survey longitudinal data, (3) incorporation of predetermined variables in estimation, and (4) computational complexities confronted when estimating large systems of equations with intricate intertemporal restrictions. To allow researchers to separate the estimation of longitudinal time-series specifications into manageable pieces, the discussion describes multi-step approaches that estimate subsets of parameters appearing in a single model component (such as the autoregressive or moving-average structure of the error process) without having to estimate all parameters of the entire model jointly. Such procedures offer a powerful set of diagnostic tools for narrowing model choices and for selecting among specifications that fit the underlying data. To illustrate all of the econometric methods outlined in this chapter, the analysis presents a set of empirical applications summarizing the dynamic properties of hourly wages for adult men using data from the Panel Study of Income Dynamics.']
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["Chapter 62 A Practitioner's Approach to Estimating Intertemporal Relationships Using Longitudinal Data: Lessons from Applications in Wage Dynamics"]
['This chapter presents a unified set of estimation methods for fitting a rich array of models describing dynamic relationships within a longitudinal data setting. The discussion surveys approaches for characterizing the micro dynamics of continuous dependent variables both over time and across individuals, focusing on two flexible sets of empirical specifications: dynamic simultaneous equations models incorporating error-components structures, and autoregressive quantile models. The chapter is motivated by the principle that, whenever possible, estimation methods should rely on routines available in familiar software packages to make them accessible to a wide range of practitioners. Conventional method-of-moments procedures offer a general apparatus for estimating parameters of panel-data specifications, though one must introduce a series of modifications to overcome challenges arising from: (1) use of unbalanced data structures, (2) weighting to account for stratified sampling inherent in survey longitudinal data, (3) incorporation of predetermined variables in estimation, and (4) computational complexities confronted when estimating large systems of equations with intricate intertemporal restrictions. To allow researchers to separate the estimation of longitudinal time-series specifications into manageable pieces, the discussion describes multi-step approaches that estimate subsets of parameters appearing in a single model component (such as the autoregressive or moving-average structure of the error process) without having to estimate all parameters of the entire model jointly. Such procedures offer a powerful set of diagnostic tools for narrowing model choices and for selecting among specifications that fit the underlying data. To illustrate all of the econometric methods outlined in this chapter, the analysis presents a set of empirical applications summarizing the dynamic properties of hourly wages for adult men using data from the Panel Study of Income Dynamics.']
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['Chapter 61 Intertemporal Substitution and Risk Aversion']
['We study structural models of stochastic discount factors and explore alternative methods of estimating such models using data on macroeconomic risk and asset returns. Particular attention is devoted to recursive utility models in which risk aversion can be modified without altering intertemporal substitution. We characterize the impact of changing the intertemporal substitution and risk aversion parameters on equilibrium short-run and long-run risk prices and on equilibrium wealth.']
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['Chapter 61 Intertemporal Substitution and Risk Aversion']
['We study structural models of stochastic discount factors and explore alternative methods of estimating such models using data on macroeconomic risk and asset returns. Particular attention is devoted to recursive utility models in which risk aversion can be modified without altering intertemporal substitution. We characterize the impact of changing the intertemporal substitution and risk aversion parameters on equilibrium short-run and long-run risk prices and on equilibrium wealth.']
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16
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3A1831647230.jsonld
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Kein systematisches Downloaden durch Robots.", "identifier": [ "(firstid)KEP:083756779", "(doi)10.1016/S1573-4404(85)02012-3", "(ppn)1831647230" ], "publisher": "North Holland", "subject": [ "Handbooks, manuals, etc", "Electronic books", "INTERNATIONAL ECONOMIC RELATIONS", "Welthandel", "ECONOMICS", "Discursos, ensayos, conferencias", "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis", "(classificationName=ddc)337", "Handbooks and manuals", "International economic relations", "(classificationName=rvk)QM 000", "Relations \u00e9conomiques internationales", "(classificationName=rvk)QM 200", "(classificationName=loc)HF1411", "Weltwirtschaft", "Relaciones econ\u00f3micas internacionales", "Internationale economie", "(classificationName=linseach:mapping)oek" ], "title": "Chapter 21 Empirical studies of macroeconomic interdependence", "abstract": "This chapter presents some empirical results from studies of macroeconomic interdependence. It focuses on studies that involve linked macroeconometric models of two or more countries. It presents specific versions of the models and analysis with special attention to the role of exchange rates in international transmission. The chapter classifies the main linkage projects, paying special attention to those features of the models that have important bearing on the international transmission of disturbances under fixed and flexible exchange rates. It discusses the international repercussions of fiscal policy, monetary policy, and changes in world oil prices. Empirical studies of macroeconomic interdependence have been producing useful results for over a decade. The earliest studies were mainly of two types: large multilateral projects based mainly on linkage through trade flows and trade prices, and bilateral or few-country models with a more complete and consistent modeling of trade, capital, exchange rate, and, occasionally, migration linkages. 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['Chapter 21 Empirical studies of macroeconomic interdependence']
['This chapter presents some empirical results from studies of macroeconomic interdependence. It focuses on studies that involve linked macroeconometric models of two or more countries. It presents specific versions of the models and analysis with special attention to the role of exchange rates in international transmission. The chapter classifies the main linkage projects, paying special attention to those features of the models that have important bearing on the international transmission of disturbances under fixed and flexible exchange rates. It discusses the international repercussions of fiscal policy, monetary policy, and changes in world oil prices. Empirical studies of macroeconomic interdependence have been producing useful results for over a decade. The earliest studies were mainly of two types: large multilateral projects based mainly on linkage through trade flows and trade prices, and bilateral or few-country models with a more complete and consistent modeling of trade, capital, exchange rate, and, occasionally, migration linkages. Recently, the availability of better multi-country data sets has made possible the construction of many-country models based on consistent aggregate theoretical structures and emphasizing monetary and exchange rate linkages. At the same time, forecasting models such as Project LINK, the OECD INTERLINK, and the EEC Eurolink models have moved some way toward a complete specification of monetary and capital account linkages, and modelers have been examining and ironing out unnecessary differences among the structures of the individual country models.']
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19
3A1831647249.jsonld
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['This chapter identifies, summarizes, and evaluates the main methodological and policy issues that have surrounded the estimation of trade equations. By “trade equations,” it mean equations for the time-series behavior of the quantities and prices of merchandise imports and exports, and as the title of the chapter suggests, it focuses explicitly on the role played by income and prices in the determination of these trade variables. The chapter addresses the main methodological issues in the specification of trade models. It discusses variables in demand and supply functions for imports and exports, what choices and compromises have to be made in the measurement of these variables, and what light existing evidence throws on the choice among competing specifications. The treatment of dynamics and time lags, aggregation, simultaneity, and stability of the relationships concerned has also been discussed in the chapter. The empirical estimates of income and price elasticities themselves and to the policy implications of those estimates have also been reviewed. Finally, suggestions are made for further research in the chapter.']
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19
3A1831647257.jsonld
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['Chapter 19 Empirical studies of exchange rates: Price behavior, rate determination and market efficiency']
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19
3A183164729X.jsonld
{ "@graph": [ { "@id": "gnd:4065365-1", "sameAs": "Welthandel" }, { "@id": "gnd:4065468-0", "sameAs": "Weltwirtschaft" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A183164729X", "@type": "bibo:Article", "creator": [ "Henderson, Dale W.", "Branson, William H." ], "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(firstid)KEP:08375671X", "(ppn)183164729X", "(doi)10.1016/S1573-4404(85)02006-8" ], "publisher": "North Holland", "subject": [ "Discursos, ensayos, conferencias", "(classificationName=rvk)QM 200", "INTERNATIONAL ECONOMIC RELATIONS", "International economic relations", "Handbooks, manuals, etc", "Welthandel", "(classificationName=loc)HF1411", "Electronic books", "ECONOMICS", "Internationale economie", "Weltwirtschaft", "Relaciones econ\u00f3micas internacionales", "Relations \u00e9conomiques internationales", "(classificationName=ddc)337", "(classificationName=rvk)QM 000", "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis", "(classificationName=linseach:mapping)oek", "Handbooks and manuals" ], "title": "Chapter 15 The specification and influence of asset markets", "abstract": "This chapter discusses portfolio balance models with postulated asset demands, asset demands broadly consistent with but not directly implied by microeconomic theory. The demand for the sum of assets denominated in each currency is homogeneous of degree one in nominal wealth, and the demand for money in each country depends on the return on the security denominated in that country's currency but not on the return on securities denominated in other currencies. However, under these same assumptions the demand for money depends on real wealth. Because the conclusions of macroeconomic analysis often depend crucially on the form of asset demand functions, it is important to continue to explore the implications of the microeconomic theory and other microeconomic approaches. The chapter discusses that the consumer arrives at his or her asset demands by maximizing his or her utility given interest rates and the parameters of the distributions of prices and exchange rates. The distributions of prices and exchange rates are not invariant to changes in the distributions of policy variables and stochastic components of tastes and technology. It has been recognized that a very important item on the research agenda is imbedding consumer's asset demands based on utility maximization in a general equilibrium model in which the distributions of prices and exchange rates are determined endogenously.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "749-805", "isPartOf": [ "(isbn)0444867937", "(collectioncode)ZDB-1-HBE", "(collectioncode)ZDB-1-HBE-article", "(isbn13)9780444867933", "(ppn)789744562" ], "issued": "1985", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": [ { "@id": "gnd:4065468-0" }, { "@id": "gnd:4065365-1" } ], "pageStart": "749", "isLike": "doi:10.1016/S1573-4404(85)02006-8", "P30128": "Handbook of international economics", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "abstract": "http://purl.org/dc/terms/abstract", "identifier": "http://purl.org/dc/elements/1.1/identifier", "subject": "http://purl.org/dc/elements/1.1/subject", "contributor": "http://purl.org/dc/terms/contributor", "isPartOf": "http://purl.org/dc/terms/isPartOf", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "title": "http://purl.org/dc/elements/1.1/title", "publisher": "http://purl.org/dc/elements/1.1/publisher", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "license": "http://purl.org/dc/terms/license", "creator": "http://purl.org/dc/elements/1.1/creator", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "issued": "http://purl.org/dc/terms/issued", "description": "http://purl.org/dc/elements/1.1/description", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "pageStart": "http://purl.org/ontology/bibo/pageStart", "extent": "http://purl.org/dc/terms/extent", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter 15 The specification and influence of asset markets']
["This chapter discusses portfolio balance models with postulated asset demands, asset demands broadly consistent with but not directly implied by microeconomic theory. The demand for the sum of assets denominated in each currency is homogeneous of degree one in nominal wealth, and the demand for money in each country depends on the return on the security denominated in that country's currency but not on the return on securities denominated in other currencies. However, under these same assumptions the demand for money depends on real wealth. Because the conclusions of macroeconomic analysis often depend crucially on the form of asset demand functions, it is important to continue to explore the implications of the microeconomic theory and other microeconomic approaches. The chapter discusses that the consumer arrives at his or her asset demands by maximizing his or her utility given interest rates and the parameters of the distributions of prices and exchange rates. The distributions of prices and exchange rates are not invariant to changes in the distributions of policy variables and stochastic components of tastes and technology. It has been recognized that a very important item on the research agenda is imbedding consumer's asset demands based on utility maximization in a general equilibrium model in which the distributions of prices and exchange rates are determined endogenously."]
['1985']
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['Welthandel', 'Weltwirtschaft']
19
3A1831647303.jsonld
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Kein systematisches Downloaden durch Robots.", "identifier": [ "(doi)10.1016/S1573-4404(85)02005-6", "(ppn)1831647303", "(firstid)KEP:083756701" ], "publisher": "North Holland", "subject": [ "Relaciones econ\u00f3micas internacionales", "Handbooks, manuals, etc", "Electronic books", "International economic relations", "ECONOMICS", "(classificationName=linseach:mapping)oek", "Welthandel", "(classificationName=rvk)QM 000", "Relations \u00e9conomiques internationales", "(classificationName=ddc)337", "Weltwirtschaft", "Handbooks and manuals", "Discursos, ensayos, conferencias", "(classificationName=loc)HF1411", "INTERNATIONAL ECONOMIC RELATIONS", "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis", "(classificationName=rvk)QM 200", "Internationale economie" ], "title": "Chapter 14 Asset markets, exchange rates and the balance of payments", "abstract": "This chapter reviews developments in international monetary economics from the late 1960s through the early 1980s. It discusses that the \u201cmonetary approach to the balance of payments\u201d was the economic determinants of the behavior of the balance of payments, especially, the theoretical elaboration and empirical investigation of the dynamic mechanism of balance of payments adjustment. Recent research on macroeconomics, for both closed and open economies, expresses far less confidence in the ability of governments to systematically affect levels of national income and consistently maintain full employment through policy manipulation. The chapter discusses that in earlier work on exchange rate theory, the condition for equilibrium in the flow market for foreign exchange transactions has been regarded as the proximate determinant of the exchange rate. In some analyses, expectations of future exchange rates had an important influence on current exchange rates by affecting speculative capital flows. The chapter also provides modern analysis of the dynamics of balance of payments adjustment under fixed exchange rates beginning with a simple exposition of the key elements of the monetary mechanism of balance of payments adjustment. Finally, the chapter also deals with the theory of flexible exchange rates. 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['Chapter 14 Asset markets, exchange rates and the balance of payments']
['This chapter reviews developments in international monetary economics from the late 1960s through the early 1980s. It discusses that the “monetary approach to the balance of payments” was the economic determinants of the behavior of the balance of payments, especially, the theoretical elaboration and empirical investigation of the dynamic mechanism of balance of payments adjustment. Recent research on macroeconomics, for both closed and open economies, expresses far less confidence in the ability of governments to systematically affect levels of national income and consistently maintain full employment through policy manipulation. The chapter discusses that in earlier work on exchange rate theory, the condition for equilibrium in the flow market for foreign exchange transactions has been regarded as the proximate determinant of the exchange rate. In some analyses, expectations of future exchange rates had an important influence on current exchange rates by affecting speculative capital flows. The chapter also provides modern analysis of the dynamics of balance of payments adjustment under fixed exchange rates beginning with a simple exposition of the key elements of the monetary mechanism of balance of payments adjustment. Finally, the chapter also deals with the theory of flexible exchange rates. The evolution of the international monetary system from a regime of pegged exchange rates into a regime of flexible rates resulted in a renewed interest in the theory of exchange rate determination.']
['1985']
['http://id.loc.gov/vocabulary/iso639-1/en']
['national licence']
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['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647303']
['Welthandel', 'Weltwirtschaft']
19
3A1831647362.jsonld
{ "@graph": [ { "@id": "gnd:4065365-1", "sameAs": "Welthandel" }, { "@id": "gnd:4065468-0", "sameAs": "Weltwirtschaft" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647362", "@type": "bibo:Article", "creator": "Baldwin, Robert E.", "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(doi)10.1016/S1573-4404(84)01015-7", "(firstid)KEP:083756647", "(ppn)1831647362" ], "publisher": "North Holland", "subject": [ "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis", "Internationale economie", "Electronic books", "Relations \u00e9conomiques internationales", "(classificationName=rvk)QM 200", "(classificationName=ddc)337", "Weltwirtschaft", "Relaciones econ\u00f3micas internacionales", "(classificationName=linseach:mapping)oek", "INTERNATIONAL ECONOMIC RELATIONS", "Welthandel", "(classificationName=loc)HF1411", "Handbooks, manuals, etc", "ECONOMICS", "(classificationName=rvk)QM 000", "Handbooks and manuals", "Discursos, ensayos, conferencias", "International economic relations" ], "title": "Chapter 12 Trade policies in developed countries", "abstract": "Modern policy-oriented analysis of trade issues in developed countries focuses mainly on five sets of questions. This chapter discusses the differences in the levels of protection among industries. The industry and economy wide effects of trade liberalization on economic welfare, trade, output, employment and the distribution of income are discussed, and the effectiveness of the government policies are introduced for the purpose of assisting the economic adjustment to increased import. The chapter also discusses the economic effects of discriminatory tariff arrangements such as customs unions and the generalized system of preferences. The economic impact of specific nontariff measures, such as quantitative restrictions, preferential government purchasing policies, export, domestic subsidies, countervailing duties, dumping and antidumping duties, and domestic content requirements are reviewed. The chapter further discusses institutional arrangements and policies that maintain order in the international trading system and in the management of trade-policy conflict. Representative studies are cited with a view to establishing the main research results and suggesting issues on which further research is needed.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "571-619", "isPartOf": [ "(collectioncode)ZDB-1-HBE", "(isbn13)9780444867926", "(collectioncode)ZDB-1-HBE-article", "(isbn)0444867929", "(ppn)789743353" ], "issued": "1984", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": [ { "@id": "gnd:4065365-1" }, { "@id": "gnd:4065468-0" } ], "pageStart": "571", "isLike": "doi:10.1016/S1573-4404(84)01015-7", "P30128": "Handbook of international economics", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "extent": "http://purl.org/dc/terms/extent", "title": "http://purl.org/dc/elements/1.1/title", "identifier": "http://purl.org/dc/elements/1.1/identifier", "isPartOf": "http://purl.org/dc/terms/isPartOf", "subject": "http://purl.org/dc/elements/1.1/subject", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "issued": "http://purl.org/dc/terms/issued", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "abstract": "http://purl.org/dc/terms/abstract", "publisher": "http://purl.org/dc/elements/1.1/publisher", "description": "http://purl.org/dc/elements/1.1/description", "contributor": "http://purl.org/dc/terms/contributor", "creator": "http://purl.org/dc/elements/1.1/creator", "license": "http://purl.org/dc/terms/license", "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "pageStart": "http://purl.org/ontology/bibo/pageStart", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
['gnd:4065365-1', 'gnd:4065468-0']
['Welthandel', 'Weltwirtschaft']
['oek']
['Technische Informationsbibliothek (TIB)']
[['(doi)10.1016/S1573-4404(84)01015-7', '(firstid)KEP:083756647', '(ppn)1831647362']]
['North Holland']
[['Relations économiques internationales ; Lectures et morçeaux choisis', 'Internationale economie', 'Electronic books', 'Relations économiques internationales', '(classificationName=rvk)QM 200', '(classificationName=ddc)337', 'Weltwirtschaft', 'Relaciones económicas internacionales', '(classificationName=linseach:mapping)oek', 'INTERNATIONAL ECONOMIC RELATIONS', 'Welthandel', '(classificationName=loc)HF1411', 'Handbooks, manuals, etc', 'ECONOMICS', '(classificationName=rvk)QM 000', 'Handbooks and manuals', 'Discursos, ensayos, conferencias', 'International economic relations']]
['Chapter 12 Trade policies in developed countries']
['Modern policy-oriented analysis of trade issues in developed countries focuses mainly on five sets of questions. This chapter discusses the differences in the levels of protection among industries. The industry and economy wide effects of trade liberalization on economic welfare, trade, output, employment and the distribution of income are discussed, and the effectiveness of the government policies are introduced for the purpose of assisting the economic adjustment to increased import. The chapter also discusses the economic effects of discriminatory tariff arrangements such as customs unions and the generalized system of preferences. The economic impact of specific nontariff measures, such as quantitative restrictions, preferential government purchasing policies, export, domestic subsidies, countervailing duties, dumping and antidumping duties, and domestic content requirements are reviewed. The chapter further discusses institutional arrangements and policies that maintain order in the international trading system and in the management of trade-policy conflict. Representative studies are cited with a view to establishing the main research results and suggesting issues on which further research is needed.']
['1984']
['http://id.loc.gov/vocabulary/iso639-1/en']
['national licence']
[[{'@id': 'gnd:4065365-1'}, {'@id': 'gnd:4065468-0'}]]
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647362']
['Welthandel', 'Weltwirtschaft']
19
3A1831647397.jsonld
{ "@graph": [ { "@id": "gnd:4065365-1", "sameAs": "Welthandel" }, { "@id": "gnd:4065468-0", "sameAs": "Weltwirtschaft" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647397", "@type": "bibo:Article", "creator": "Pomery, John", "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(ppn)1831647397", "(firstid)KEP:083756612", "(doi)10.1016/S1573-4404(84)01012-1" ], "publisher": "North Holland", "subject": [ "INTERNATIONAL ECONOMIC RELATIONS", "International economic relations", "Relaciones econ\u00f3micas internacionales", "(classificationName=linseach:mapping)oek", "Relations \u00e9conomiques internationales", "Discursos, ensayos, conferencias", "Welthandel", "Handbooks and manuals", "Handbooks, manuals, etc", "Electronic books", "ECONOMICS", "(classificationName=loc)HF1411", "(classificationName=rvk)QM 000", "(classificationName=rvk)QM 200", "Internationale economie", "Weltwirtschaft", "(classificationName=ddc)337", "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis" ], "title": "Chapter 9 Uncertainty in trade models", "abstract": "The chapter evaluates variety of models, each involving uncertainty in the context of international trade. Uncertainty has many potential roles in microeconomic models of international trade. It creates a rationale for additional markets and hence both added dimensions for potential gains from trade and a plethora of results contingent upon the particular market structure assumed. In addition, uncertainty arises in issues concerning the existence and form of extra market organizations and institutions. The role of uncertainty, and its policy implications, varies both across models of a given typeconsidering the advisibility of free trade with and without complete marketsand across types of models. For some purposes, results are preserved by treating trade and production in equities rather than in the traditional physical commodities. In other areas, the presence of uncertainty increases the possible explanations of market failureconsidering the role of pecuniary externalities with incomplete markets. In addition, uncertainty is linked to the existence and extent of extra market institutions and organizations. The variety of potential models, even within the context of uncertainty and international trade, suggests that it must forgo the comfort of strong conclusions, either positive or normative. The outcome often depends on the extent of markets and/or the extent of extra market institutions, with their implicit patterns of potential externalitiesyet perhaps the justification for the study of international economics is that national boundaries do affect the nature and extent of markets and institutions in many ways.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "419-465", "isPartOf": [ "(isbn13)9780444867926", "(collectioncode)ZDB-1-HBE", "(ppn)789743353", "(collectioncode)ZDB-1-HBE-article", "(isbn)0444867929" ], "issued": "1984", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": [ { "@id": "gnd:4065365-1" }, { "@id": "gnd:4065468-0" } ], "pageStart": "419", "isLike": "doi:10.1016/S1573-4404(84)01012-1", "P30128": "Handbook of international economics", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "isPartOf": "http://purl.org/dc/terms/isPartOf", "subject": "http://purl.org/dc/elements/1.1/subject", "identifier": "http://purl.org/dc/elements/1.1/identifier", "issued": "http://purl.org/dc/terms/issued", "description": "http://purl.org/dc/elements/1.1/description", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "contributor": "http://purl.org/dc/terms/contributor", "creator": "http://purl.org/dc/elements/1.1/creator", "abstract": "http://purl.org/dc/terms/abstract", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "title": "http://purl.org/dc/elements/1.1/title", "extent": "http://purl.org/dc/terms/extent", "publisher": "http://purl.org/dc/elements/1.1/publisher", "pageStart": "http://purl.org/ontology/bibo/pageStart", "license": "http://purl.org/dc/terms/license", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter 9 Uncertainty in trade models']
['The chapter evaluates variety of models, each involving uncertainty in the context of international trade. Uncertainty has many potential roles in microeconomic models of international trade. It creates a rationale for additional markets and hence both added dimensions for potential gains from trade and a plethora of results contingent upon the particular market structure assumed. In addition, uncertainty arises in issues concerning the existence and form of extra market organizations and institutions. The role of uncertainty, and its policy implications, varies both across models of a given typeconsidering the advisibility of free trade with and without complete marketsand across types of models. For some purposes, results are preserved by treating trade and production in equities rather than in the traditional physical commodities. In other areas, the presence of uncertainty increases the possible explanations of market failureconsidering the role of pecuniary externalities with incomplete markets. In addition, uncertainty is linked to the existence and extent of extra market institutions and organizations. The variety of potential models, even within the context of uncertainty and international trade, suggests that it must forgo the comfort of strong conclusions, either positive or normative. The outcome often depends on the extent of markets and/or the extent of extra market institutions, with their implicit patterns of potential externalitiesyet perhaps the justification for the study of international economics is that national boundaries do affect the nature and extent of markets and institutions in many ways.']
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19
3A1831647400.jsonld
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Kein systematisches Downloaden durch Robots.", "identifier": [ "(doi)10.1016/S1573-4404(84)01011-X", "(ppn)1831647400", "(firstid)KEP:083756604" ], "publisher": "North Holland", "subject": [ "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis", "(classificationName=rvk)QM 200", "(classificationName=loc)HF1411", "Relaciones econ\u00f3micas internacionales", "(classificationName=linseach:mapping)oek", "Electronic books", "Discursos, ensayos, conferencias", "ECONOMICS", "Internationale economie", "Weltwirtschaft", "INTERNATIONAL ECONOMIC RELATIONS", "(classificationName=ddc)337", "Relations \u00e9conomiques internationales", "(classificationName=rvk)QM 000", "Handbooks and manuals", "Handbooks, manuals, etc", "International economic relations", "Welthandel" ], "title": "Chapter 8 The role of natural resources in trade models", "abstract": "Much of the modern long-run theory of international trade derives from what has come to be called the 2 x 2 or HeckscherOhlin model of production; and the rest of the theory derives from straightforward extensions of that model achieved by the accommodation of additional factors and products and by the addition of more-or-less durable produced intermediate goods. In all versions of the model, final goods are produced, directly or indirectly, by two primary or nonproduced factors of production, a unit of any factor yielding its services in a given and steady flow forever. There is need of a theory of international trade that accommodates both exhaustible natural resources and the traditional Ricardian primary factors and of which the standard HeckscherOhlin theory appears as a special case. The new theory can be expected to differ in important respects from the old, for in a context of exhaustible resources there are no nontrivial steady states, only transitions. The assumption that resources can be extracted without cost simplifies the calculations and enables concentrating on the implications of exhaustibility as such. The canonical case in which the available processes of extraction display constant returns to scale and are independent of the amount already extracted, costs of extraction make no difference to qualitative conclusions. 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['Chapter 8 The role of natural resources in trade models']
['Much of the modern long-run theory of international trade derives from what has come to be called the 2 x 2 or HeckscherOhlin model of production; and the rest of the theory derives from straightforward extensions of that model achieved by the accommodation of additional factors and products and by the addition of more-or-less durable produced intermediate goods. In all versions of the model, final goods are produced, directly or indirectly, by two primary or nonproduced factors of production, a unit of any factor yielding its services in a given and steady flow forever. There is need of a theory of international trade that accommodates both exhaustible natural resources and the traditional Ricardian primary factors and of which the standard HeckscherOhlin theory appears as a special case. The new theory can be expected to differ in important respects from the old, for in a context of exhaustible resources there are no nontrivial steady states, only transitions. The assumption that resources can be extracted without cost simplifies the calculations and enables concentrating on the implications of exhaustibility as such. The canonical case in which the available processes of extraction display constant returns to scale and are independent of the amount already extracted, costs of extraction make no difference to qualitative conclusions. The chapter also recognizes the historical fact that the extraction and processing of some exhaustible resources have sometimes been under the control of cartels.']
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19
3A1831647419.jsonld
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['Chapter 7 Increasing returns, imperfect markets, and trade theory']
["This chapter discusses two major issues: explanations of trade patterns and gains from trade. The classical traditions were mainly concerned with gains from trade and other welfare effects. The theory of international trade is surveyed in the presence of economies of scale and monopolistic competition, with an emphasis on predictions of trade patterns and gains from trade. The main ingredient of this logic is that the allocation of productive resources is guided in every country by the reward level of every sector's employed combination of factors of production. Economies of scale, which arise from conglomeration or public intermediate inputs, seem to be country specific, and due to transportation costs within-industry specialization in some stages of production are countries specific. It seems, therefore, that the size of a domestic industry plays a role in the determination of external economies of scale. But it is also clear that some sources of these scale economies affect more than a single industry, which implies cross-industry spillovers of external economies of scale. The chapter provides an overview on the general model of trade in homogeneous products when there are variable returns to scale and free entry into industries."]
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19
3A1831647443.jsonld
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['Chapter 4 Growth and development in trade models']
["Growth and development are used interchangeably. Growth has the connotation of simply more of everything, while development is taken to refer to some qualitative transformation or structural shift. In practice, the development aspect of trade theory arises from the attempt to address problems regarded as of major significance for the less developed countries of the world economy. These have ranged from the infant industry problem of Hamilton and list to the terms of trade problem. The insights and concerns of these critics of orthodox doctrine have led to a number of attempts, sympathetic and otherwise, to handle these issues analytically. This chapter provides an overview on Ricardian theory and considers some neglected aspects of Ricardo's ideas on trade and growth, based on his analysis of the distributive shares. It discusses Arthur Lewis three-good Ricardian model of the terms of trade and Emmanuel's concept of unequal exchange. It also reviews neoclassical theory, which contains the major mainstream literature on growth and trade, with discussions on comparative statics, dynamics, and the concept of immiserizing growth and foreign investment. It also discusses various theoretical aspects of trade and development issues, including analyses of infant industry protection, two-gap models, the open dual economy, and an extensive discussion of recent work on NorthSouth models."]
['1984']
['http://id.loc.gov/vocabulary/iso639-1/en']
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[[{'@id': 'gnd:4065365-1'}, {'@id': 'gnd:4065468-0'}]]
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647443']
['Welthandel', 'Weltwirtschaft']
19
3A1831647478.jsonld
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['Chapter 1 The positive theory of international trade']
['The theory of international trade is one of the oldest subfields of economics. This chapter provides an overview of the present state of positive trade theory, concentrating on developments, at the same time it draws attention to the continuity in the development of the subject. It discusses the classical paradigm as a set of assumptions under which trade is limited to final commodities and markets are undistorted and characterized by constant returns to scale and perfect competition. Nowadays theories are motivated by certain key features of real-world trade: the vast exchange of raw materials and commodities that require further processing before being consumed, the large volume of intra-industry trade, and the importance of the size of markets. These extensions in analysis have been generally made without throwing away building blocks found in the earlier literature. Extensions of the simple models of production within the classical paradigm have broken out of the traditional two-by-two mold to analyze the importance of joint production, complementarity among factors, and general properties in higher dimensions. Earlier work on simpler trade models has proved of value in all these extensions.']
['1984']
['http://id.loc.gov/vocabulary/iso639-1/en']
['national licence']
[[{'@id': 'gnd:4065468-0'}, {'@id': 'gnd:4065365-1'}]]
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647478']
['Welthandel', 'Weltwirtschaft']
19
3A1831647532.jsonld
{ "@graph": [ { "@id": "gnd:4065365-1", "sameAs": "Welthandel" }, { "@id": "gnd:4065468-0", "sameAs": "Weltwirtschaft" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647532", "@type": "bibo:Article", "creator": [ "Persson, Torsten", "Tabellini, Guido" ], "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(doi)10.1016/S1573-4404(05)80018-8", "(firstid)KEP:083756477", "(ppn)1831647532" ], "publisher": "Elsevier", "subject": [ "(classificationName=rvk)QM 000", "Weltwirtschaft", "BUSINESS & ECONOMICS ; International ; General", "International economic relations", "Welthandel", "Handbooks and manuals", "Electronic books", "Relations \u00e9conomiques internationales", "(classificationName=ddc)337", "Handbooks, manuals, etc", "Relaciones econ\u00f3micas internacionales", "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis", "(classificationName=rvk)QM 200", "ECONOMICS", "Internationale economie", "(classificationName=linseach:mapping)oek", "BUSINESS & ECONOMICS ; International ; Economics", "(classificationName=loc)HF1411", "Discursos, ensayos, conferencias", "INTERNATIONAL ECONOMIC RELATIONS" ], "title": "Chapter 38 Double-edged incentives: Institutions and policy coordination", "abstract": "This chapter focuses on institutions and policy coordination. A large portion of international macroeconomics deals with the international transmission of national macroeconomic policies. Such spillovers naturally raise the possibility of inefficiencies: national policymakers, who set their fiscal and monetary policies to maximize a domestic objective, but ignoring the externalities that they impose on other countries, may find themselves in equilibria that entail collective irrationality. The chapter presents a detailed discussion on the fiscal policy. The illustrations revolve around two types of externalities: one tied to international redistribution via the intertemporal terms of trade and the other to a fiscal externality in capital taxation, when capital is mobile among countries. The analysis in the chapter does not rest on explicit micro foundations, but on quadratic payoff functions and linear and static macroeconomic models. Two main themes emerge from the analysis. 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['Chapter 38 Double-edged incentives: Institutions and policy coordination']
['This chapter focuses on institutions and policy coordination. A large portion of international macroeconomics deals with the international transmission of national macroeconomic policies. Such spillovers naturally raise the possibility of inefficiencies: national policymakers, who set their fiscal and monetary policies to maximize a domestic objective, but ignoring the externalities that they impose on other countries, may find themselves in equilibria that entail collective irrationality. The chapter presents a detailed discussion on the fiscal policy. The illustrations revolve around two types of externalities: one tied to international redistribution via the intertemporal terms of trade and the other to a fiscal externality in capital taxation, when capital is mobile among countries. The analysis in the chapter does not rest on explicit micro foundations, but on quadratic payoff functions and linear and static macroeconomic models. Two main themes emerge from the analysis. First, that the analysis of international policy interactions is enriched by taking the incentives in the domestic policy process into account. The second central theme focuses on the institutions that can enforce cooperation. The chapter also discusses tax competition, domestic institutions in fiscal policy, and international institutions in fiscal policy.']
['1995']
['http://id.loc.gov/vocabulary/iso639-1/en']
['national licence']
[[{'@id': 'gnd:4065365-1'}, {'@id': 'gnd:4065468-0'}]]
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['Welthandel', 'Weltwirtschaft']
19
3A1831647559.jsonld
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['Chapter 36 The operation and collapse of fixed exchange rate regimes']
['This chapter discusses the operation and collapse of fixed exchange rate regimes. It reports recent research contributions to the understanding of the dynamics of a fixed exchange rate system. These contributions can be placed readily into two categories research on target zones and research on speculative attacks on fixed exchange rate regimes. The chapter briefly discusses the various rationales for selecting a fixed exchange rate system over a floating exchange rate regime. The focus, however, is on the positive economics of fixed exchange rates. This focus is consistent with most of the research in the past decade; given that a target zone or fixed exchange rate system is chosen, researchers have concentrated mainly on determining its dynamic development. Although, as the chapter reports, much empirical research has been done to examine theoretical models, the recent literature is primarily a theoretical one. Most research in this area is based on the simple monetary model of the exchange rate, which does not perform well empirically in the short run. Nevertheless, this literature has had great influence in central banks, given the background of the existence of important target zone systems and of major exchange rate crises in the past decade.']
['1995']
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['national licence']
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['Welthandel', 'Weltwirtschaft']
19
3A1831647567.jsonld
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['Chapter 35 International trade and business cycles']
['This chapter discusses the salient features of international trade and business cycles and summarizes the contributions of a particular branch of the literature on open economy macroeconomics. Becasue many macroeconomic time series are nonstationary, the computation of moments requires that the data be transformed to remove the nonstationarity. A commonly used transformation is the linear filter advocated by Hodrick and Prescott. The important properties of this filter are the following: (1) the filter will render stationary any time series that is integrated of order four or less and (2) when applied to quarterly data, the filter acts as a reasonable approximation to a high-pass filter that passes the cycles of frequency eight years or less with the customary value of 1600 for the smoothing parameter. Recently, Baxter and King (1994) proposed a method for measuring business cycle components of models and data through the application of an approximate band-pass filter. The chapter also analyzes the effects of shocks to government spending and tax rates and reviews the literature on multi-good models of international business cycle.']
['1995']
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['national licence']
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['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647567']
['Welthandel', 'Weltwirtschaft']
19
3A1831647583.jsonld
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['Chapter 33 Empirical research on nominal exchange rates']
['This chapter presents a critical survey and an interpretation of recent exchange rate research. It focuses on empirical results for exchange rates among major industrialized countries. The expectations of future exchange rate changes are a key determinant of asset demands, and therefore of the current exchange rate. The expectations variable is relatively straightforward in the conventional monetary models; in theoretical terms , it is determined by the rational expectations assumption, while in empirical terms, it is typically measured by the forward discount or interest differential. The standard empirical implementation of rational expectations methodology infers ex ante expectations of investors from ex post changes in the exchange rate. Unexpected changes in monetary policy frequently cause movements in the exchange rate in the direction hypothesized by the sticky-price monetary model. The chapter presents a survey of the work on exchange rate determination in floating rate regimes. It considers evidence across exchange rate regimes and examines the issue of speculative bubbles. It also reviews some relatively new directions in exchange rate research that focus on the micro-structure of foreign exchange markets.']
['1995']
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['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647583']
['Welthandel', 'Weltwirtschaft']
19
3A1831647591.jsonld
{ "@graph": [ { "@id": "gnd:4065365-1", "sameAs": "Welthandel" }, { "@id": "gnd:4065468-0", "sameAs": "Weltwirtschaft" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647591", "@type": "bibo:Article", "creator": [ "Froot, Kenneth A.", "Rogoff, Kenneth" ], "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(doi)10.1016/S1573-4404(05)80012-7", "(ppn)1831647591", "(firstid)KEP:083756418" ], "publisher": "Elsevier", "subject": [ "(classificationName=linseach:mapping)oek", "(classificationName=loc)HF1411", "BUSINESS & ECONOMICS ; International ; Economics", "BUSINESS & ECONOMICS ; International ; General", "Electronic books", "ECONOMICS", "Relations \u00e9conomiques internationales", "Handbooks, manuals, etc", "Internationale economie", "International economic relations", "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis", "Welthandel", "INTERNATIONAL ECONOMIC RELATIONS", "(classificationName=rvk)QM 000", "Handbooks and manuals", "(classificationName=ddc)337", "(classificationName=rvk)QM 200", "Discursos, ensayos, conferencias", "Relaciones econ\u00f3micas internacionales", "Weltwirtschaft" ], "title": "Chapter 32 Perspectives on PPP and long-run real exchange rates", "abstract": "This chapter presents an overview of the long-run determinants of purchasing power parity (PPP). It reviews the huge time series literature testing simple PPP. This area has proven fruitful ground for applying modern methods for dealing with nonstationary and near-nonstationary time series. The chapter traces out the evolution of the literature from naive static tests of PPP to modern unit-root approaches for testing whether real exchange rates are stationary and to cointegration techniquesthe most recent phase of PPP testing. The research on more disaggregated price data is discussed in the chapter, including a nearly two-hundred year data set on commodity prices in England and France during the seventeenth and eighteenth centuries. Aside from providing an extremely long data set, this historical data offers some perspective on the behavior of cross-country relative prices in more modern times. The chapter looks at some possible medium- and long-run determinants of the real exchange rate, particularly the supply-side determinants emphasized in the popular BalassaSamuelson model. It also considers some evidence that positive demand shocks, such as unexpected increases in government spending, lead to medium-run appreciations of the real exchange rate.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "1647-1688", "isPartOf": [ "(isbn13)9780080933450", "(collectioncode)ZDB-1-HBE", "(isbn)0444815473", "(collectioncode)ZDB-1-HBE-article", "(isbn13)9780444815477", "(isbn)0080933459", "(ppn)1685671373" ], "issued": "1995", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": [ { "@id": "gnd:4065468-0" }, { "@id": "gnd:4065365-1" } ], "pageStart": "1647", "isLike": "doi:10.1016/S1573-4404(05)80012-7", "P30128": "Handbook of international economics", "P60163": "Amsterdam [u.a.]" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "isPartOf": "http://purl.org/dc/terms/isPartOf", "subject": "http://purl.org/dc/elements/1.1/subject", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "identifier": "http://purl.org/dc/elements/1.1/identifier", "pageStart": "http://purl.org/ontology/bibo/pageStart", "title": "http://purl.org/dc/elements/1.1/title", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "description": "http://purl.org/dc/elements/1.1/description", "license": "http://purl.org/dc/terms/license", "creator": "http://purl.org/dc/elements/1.1/creator", "issued": "http://purl.org/dc/terms/issued", "contributor": "http://purl.org/dc/terms/contributor", "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "publisher": "http://purl.org/dc/elements/1.1/publisher", "extent": "http://purl.org/dc/terms/extent", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "abstract": "http://purl.org/dc/terms/abstract", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter 32 Perspectives on PPP and long-run real exchange rates']
['This chapter presents an overview of the long-run determinants of purchasing power parity (PPP). It reviews the huge time series literature testing simple PPP. This area has proven fruitful ground for applying modern methods for dealing with nonstationary and near-nonstationary time series. The chapter traces out the evolution of the literature from naive static tests of PPP to modern unit-root approaches for testing whether real exchange rates are stationary and to cointegration techniquesthe most recent phase of PPP testing. The research on more disaggregated price data is discussed in the chapter, including a nearly two-hundred year data set on commodity prices in England and France during the seventeenth and eighteenth centuries. Aside from providing an extremely long data set, this historical data offers some perspective on the behavior of cross-country relative prices in more modern times. The chapter looks at some possible medium- and long-run determinants of the real exchange rate, particularly the supply-side determinants emphasized in the popular BalassaSamuelson model. It also considers some evidence that positive demand shocks, such as unexpected increases in government spending, lead to medium-run appreciations of the real exchange rate.']
['1995']
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['national licence']
[[{'@id': 'gnd:4065468-0'}, {'@id': 'gnd:4065365-1'}]]
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647591']
['Welthandel', 'Weltwirtschaft']
19
3A1831647621.jsonld
{ "@graph": [ { "@id": "gnd:4065365-1", "sameAs": "Welthandel" }, { "@id": "gnd:4065468-0", "sameAs": "Weltwirtschaft" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647621", "@type": "bibo:Article", "creator": "Staiger, Robert W.", "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(firstid)KEP:083756388", "(doi)10.1016/S1573-4404(05)80009-7", "(ppn)1831647621" ], "publisher": "Elsevier", "subject": [ "International economic relations", "BUSINESS & ECONOMICS ; International ; General", "(classificationName=loc)HF1411", "Welthandel", "Electronic books", "(classificationName=linseach:mapping)oek", "Handbooks and manuals", "INTERNATIONAL ECONOMIC RELATIONS", "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis", "(classificationName=rvk)QM 200", "Relaciones econ\u00f3micas internacionales", "(classificationName=rvk)QM 000", "Weltwirtschaft", "Relations \u00e9conomiques internationales", "(classificationName=ddc)337", "ECONOMICS", "Discursos, ensayos, conferencias", "Handbooks, manuals, etc", "BUSINESS & ECONOMICS ; International ; Economics", "Internationale economie" ], "title": "Chapter 29 International rules and institutions for trade policy", "abstract": "This chapter describes the basic structure of international trade agreements as they exist in practice, explores theoretically the normative consequences of actual and alternative trade agreements, and offers some theoretically-based explanation for the structure of trade agreements. International trade agreements codify attempts by countries to mutually restrain the degree of trade intervention from what might otherwise obtain. Generally, they include three basic elements: substantive obligations; permissible exceptions to those obligations; and enforcement mechanisms. Through the provisions of a trade agreement countries, therefore, typically agree to mutually restrain both their baseline levels of trade intervention and their use of special protection, with the effectiveness of these restraints determined ultimately by the strength of the enforcement mechanisms in place. The chapter describes some of the major themes that characterize the behavior of trade intervention in their presence and discusses why and in what circumstances countries might wish to enter into international trade agreements. 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['Chapter 29 International rules and institutions for trade policy']
['This chapter describes the basic structure of international trade agreements as they exist in practice, explores theoretically the normative consequences of actual and alternative trade agreements, and offers some theoretically-based explanation for the structure of trade agreements. International trade agreements codify attempts by countries to mutually restrain the degree of trade intervention from what might otherwise obtain. Generally, they include three basic elements: substantive obligations; permissible exceptions to those obligations; and enforcement mechanisms. Through the provisions of a trade agreement countries, therefore, typically agree to mutually restrain both their baseline levels of trade intervention and their use of special protection, with the effectiveness of these restraints determined ultimately by the strength of the enforcement mechanisms in place. The chapter describes some of the major themes that characterize the behavior of trade intervention in their presence and discusses why and in what circumstances countries might wish to enter into international trade agreements. It also reviews the literature related to the collection of rules and institutions that define an international trade agreement and explains the issues of enforcement, along with the process of multilateral and bilateral liberalization.']
['1995']
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['Welthandel', 'Weltwirtschaft']
19
3A183164763X.jsonld
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['Chapter 28 Political economy of trade policy']
["This chapter discusses the political economy of trade policy. In principle, a political-economy model of trade policy must have four elements. Much of the trade theory is devoted to analyzing the consequences of trade policy for individuals who derive their incomes from different factors of production or sectors. First, it must contain a description of individual preferences over the domain of policy choices available to policymakers. Given an underlying economic model of the HeckscherOhlin or RicardoViner type and the presumption that preferences for policy depend only on self-interest, individuals' policy rankings can be deuced on the basis of their factor endowments or sector-specific skills. Second, the model must contain a description of the way these individual preferences are aggregated and channeled, through pressure groups, political parties, or grass-roots movements, into political demands for a particular policy or another. This step involves a characterization of the modes of political organization, as well as of the forms that political influence takes. The chapter also reviews the choice among alternative trade policy instruments and elaborates the consequences of viewing trade policy from political-economy lenses."]
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['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183164763X']
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19
3A1831647648.jsonld
{ "@graph": [ { "@id": "gnd:4065365-1", "sameAs": "Welthandel" }, { "@id": "gnd:4065468-0", "sameAs": "Weltwirtschaft" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831647648", "@type": "bibo:Article", "creator": "Brander, James A.", "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(doi)10.1016/S1573-4404(05)80007-3", "(firstid)KEP:083756361", "(ppn)1831647648" ], "publisher": "Elsevier", "subject": [ "Electronic books", "(classificationName=linseach:mapping)oek", "International economic relations", "Weltwirtschaft", "Discursos, ensayos, conferencias", "Relations \u00e9conomiques internationales", "(classificationName=ddc)337", "Internationale economie", "Relations \u00e9conomiques internationales ; Lectures et mor\u00e7eaux choisis", "INTERNATIONAL ECONOMIC RELATIONS", "Handbooks, manuals, etc", "(classificationName=rvk)QM 000", "Handbooks and manuals", "(classificationName=loc)HF1411", "BUSINESS & ECONOMICS ; International ; Economics", "Relaciones econ\u00f3micas internacionales", "BUSINESS & ECONOMICS ; International ; General", "Welthandel", "(classificationName=rvk)QM 200", "ECONOMICS" ], "title": "Chapter 27 Strategic trade policy", "abstract": "This chapter focuses on the concept of strategic trade policy. The analysis of strategic trade policy is part of a broader research agenda that has been very active since the beginning of the 1980s. Over this period, international trade economists have sought to incorporate oligopoly and other forms of imperfect competition into the formal analysis of international trade and trade policy so as to make contact with important empirical regularities and policy concerns. The chapter defines strategic trade policy as the trade policy that conditions (or alters) a strategic relationship among firms. This definition implies that the existence of a strategic relationship among firms is a necessary precondition for the application of strategic trade policy. The basic game theoretic structure of strategic trade policy is discussed in the chapter. It also focuses on the third-market model, in which rival oligopolistic exporters from two countries compete only in a third market. The chapter develops the basic strategic export subsidies model in this context, along with some of the more important qualifications and extensions. It presents the reciprocal markets model, in which oligopolistic firms in two countries compete in those two countries. The chapter also reviews some of the major calibrated simulations of strategic trade policy.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "1395-1455", "isPartOf": [ "(isbn13)9780080933450", "(isbn)0444815473", "(ppn)1685671373", "(collectioncode)ZDB-1-HBE-article", "(isbn)0080933459", "(isbn13)9780444815477", "(collectioncode)ZDB-1-HBE" ], "issued": "1995", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": [ { "@id": "gnd:4065468-0" }, { "@id": "gnd:4065365-1" } ], "pageStart": "1395", "isLike": "doi:10.1016/S1573-4404(05)80007-3", "P30128": "Handbook of international economics", "P60163": "Amsterdam [u.a.]" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "isPartOf": "http://purl.org/dc/terms/isPartOf", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "extent": "http://purl.org/dc/terms/extent", "subject": "http://purl.org/dc/elements/1.1/subject", "description": "http://purl.org/dc/elements/1.1/description", "pageStart": "http://purl.org/ontology/bibo/pageStart", "abstract": "http://purl.org/dc/terms/abstract", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "identifier": "http://purl.org/dc/elements/1.1/identifier", "issued": "http://purl.org/dc/terms/issued", "title": "http://purl.org/dc/elements/1.1/title", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "contributor": "http://purl.org/dc/terms/contributor", "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "creator": "http://purl.org/dc/elements/1.1/creator", "license": "http://purl.org/dc/terms/license", "publisher": "http://purl.org/dc/elements/1.1/publisher", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter 27 Strategic trade policy']
['This chapter focuses on the concept of strategic trade policy. The analysis of strategic trade policy is part of a broader research agenda that has been very active since the beginning of the 1980s. Over this period, international trade economists have sought to incorporate oligopoly and other forms of imperfect competition into the formal analysis of international trade and trade policy so as to make contact with important empirical regularities and policy concerns. The chapter defines strategic trade policy as the trade policy that conditions (or alters) a strategic relationship among firms. This definition implies that the existence of a strategic relationship among firms is a necessary precondition for the application of strategic trade policy. The basic game theoretic structure of strategic trade policy is discussed in the chapter. It also focuses on the third-market model, in which rival oligopolistic exporters from two countries compete only in a third market. The chapter develops the basic strategic export subsidies model in this context, along with some of the more important qualifications and extensions. It presents the reciprocal markets model, in which oligopolistic firms in two countries compete in those two countries. The chapter also reviews some of the major calibrated simulations of strategic trade policy.']
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['Welthandel', 'Weltwirtschaft']
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['Chapter 26 International trade theory: The evidence']
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['Chapter 26 Optimal economic growth, turnpike theorems and comparative dynamics']
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['Chapter 26 Optimal economic growth, turnpike theorems and comparative dynamics']
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['Chapter 25 Positive second-best theory : A brief survey of the theory of ramsey pricing']
['This chapter surveys issues in positive second-best theory, specifically the theory of the optimal pricing of goods produced by public firmsthat is, firms whose objective is the maximization of social welfare. It is assumed that these firms, characteristically, display increasing returns to scale. In these situations, first-best optima may require lump-sum taxes and subsidies. In view of the size of the public sector in most industrialized countries, it is difficult to imagine that public activities can be financed without distortionary effects elsewhere in the economy. The chapter assumes perfect possibilities for lump-sum income transfers to focus on the efficiency aspect of optimal pricing. If lump-sum redistribution is impossible, deviations from marginal costs for prices under public control may be motivated by distributional considerationsthat is, the government may want to use its excise tax power to improve the income distribution. The chapter provides general formulation that forms a basis for special cases that are analyzed in more detail subsequently. It also discusses the joint decision for the optimal supply of public goods and the pricing problem. Finally, it analyzes some issues in predation and Ramsey pricing in a dynamic context.']
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['Chapter 25 Positive second-best theory : A brief survey of the theory of ramsey pricing']
['This chapter surveys issues in positive second-best theory, specifically the theory of the optimal pricing of goods produced by public firmsthat is, firms whose objective is the maximization of social welfare. It is assumed that these firms, characteristically, display increasing returns to scale. In these situations, first-best optima may require lump-sum taxes and subsidies. In view of the size of the public sector in most industrialized countries, it is difficult to imagine that public activities can be financed without distortionary effects elsewhere in the economy. The chapter assumes perfect possibilities for lump-sum income transfers to focus on the efficiency aspect of optimal pricing. If lump-sum redistribution is impossible, deviations from marginal costs for prices under public control may be motivated by distributional considerationsthat is, the government may want to use its excise tax power to improve the income distribution. The chapter provides general formulation that forms a basis for special cases that are analyzed in more detail subsequently. It also discusses the joint decision for the optimal supply of public goods and the pricing problem. Finally, it analyzes some issues in predation and Ramsey pricing in a dynamic context.']
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['Chapter 21 The computation of equilibrium prices: An exposition']
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['Chapter 21 The computation of equilibrium prices: An exposition']
["A demonstration of the existence of equilibrium prices for a general Walrasian model of competitive behavior necessarily makes use of some variant of Brouwer's fixed point theorem as an essential step. The strategy for calculating equilibrium prices is to render that step constructive by a numerical approximation of the fixed point implied by Brouwer's theorem or one of its alternatives. This chapter provides a brief review of the competitive model and the role of fixed point theorems. For the purpose of computing equilibrium prices, the demand functions are frequently more natural to work with than the underlying utility function or preference relationship. A general equilibrium model is fully specified to obtain a numerical solution. On the consumer side, this is typically done by providing a numerical or algebraic description of the functions. A few examples of some of the more familiar utility functions and their associated demand functions are appropriate at this point. A model of equilibrium involves a number of consuming units, individuals, aggregations of individuals, or countries involved in foreign tradeeach of whom has a stock of assets, prior to production and trade, and each of whose demands are functions of the prevailing prices. The market demand functions specify the total consumer demand, for the goods and services in the economy, as a function of all prices. The chapter also explains that market demand functions cannot be arbitrarily specified if they are derived from individual demand functions by the process of aggregation."]
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19
3A1831647877.jsonld
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['Chapter 20 Equilibrium under uncertainty']
['This chapter reviews several concepts of equilibrium that have appeared in the recent literature on markets and uncertainty and focuses on various theories of equilibrium under uncertainty in a sequence of markets, in the absence of complete forward markets for contingent delivery. A stationary state is in full equilibrium, not merely when demands equal supplies at the currently established prices but also when the same prices continue to rule at all dateswhen prices are constant over time. The test of equilibrium over time is considered to be more important than mere arithmetical sameness or difference, noting that it implies constant prices in a stationary economy but does not necessarily implies constant prices in an economy subject to change. The ArrowDebreu model provides a solid foundation of equilibrium analysis upon which to build. Modern decision theory and probability theory enable dealing more effectively with the issues raised by uncertainty and with the conceptual problems of describing an economy that is both stationary and subject to change.']
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19
3A1831647877.jsonld
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['Chapter 20 Equilibrium under uncertainty']
['This chapter reviews several concepts of equilibrium that have appeared in the recent literature on markets and uncertainty and focuses on various theories of equilibrium under uncertainty in a sequence of markets, in the absence of complete forward markets for contingent delivery. A stationary state is in full equilibrium, not merely when demands equal supplies at the currently established prices but also when the same prices continue to rule at all dateswhen prices are constant over time. The test of equilibrium over time is considered to be more important than mere arithmetical sameness or difference, noting that it implies constant prices in a stationary economy but does not necessarily implies constant prices in an economy subject to change. The ArrowDebreu model provides a solid foundation of equilibrium analysis upon which to build. Modern decision theory and probability theory enable dealing more effectively with the issues raised by uncertainty and with the conceptual problems of describing an economy that is both stationary and subject to change.']
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16
3A1831647885.jsonld
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Co", "subject": [ "Economics, Mathematical", "(classificationName=rvk)SK 980", "(classificationName=linseach:mapping)oek", "(classificationName=bk, id=106405373)83.03 - Methoden und Techniken der Volkswirtschaft", "(classificationName=rvk)QH 100", "(classificationName=ddc)330/.01/51", "Electronic books", "(classificationName=bk, id=106416332)83.00 - Volkswirtschaft: Allgemeines", "(classificationName=bk, id=106417320)85.03 - Methoden und Techniken der Betriebswirtschaft", "(classificationName=loc)HB135", "(classificationName=ddc)330.0151", "(classificationName=linseach:mapping)mat" ], "title": "Chapter 19 Temporary general equilibrium theory", "abstract": "Traditional general equilibrium theory has, for a long time, studied an economic model that is essentially static, where the agent's expectations are self-fulfilling and the equilibrium is achieved solely by the price system. The chapter presents the conceptual framework underlying temporary equilibrium models. This chapter discusses the central role played by an agent's expectations in his or her decision-making process. This model is the microeconomic foundation of the whole theory. A few models using the temporary competitive equilibrium method are also studied in the chapter. It is postulated that prices move fast enough in each period to match supply and demand. The first problem studied is the issue of the existence of an equilibrium in asset markets that is very important in any theory of financial markets. In the framework of a simple model, a necessary and sufficient condition for the existence of a competitive equilibrium in asset markets is some partial agreement among economic agents concerning expected future spot prices of these assets. The chapter studies the temporary equilibrium with the quantity rationing method and to the possible contributions of this approach to the theory of employment and inflation. 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['Chapter 19 Temporary general equilibrium theory']
["Traditional general equilibrium theory has, for a long time, studied an economic model that is essentially static, where the agent's expectations are self-fulfilling and the equilibrium is achieved solely by the price system. The chapter presents the conceptual framework underlying temporary equilibrium models. This chapter discusses the central role played by an agent's expectations in his or her decision-making process. This model is the microeconomic foundation of the whole theory. A few models using the temporary competitive equilibrium method are also studied in the chapter. It is postulated that prices move fast enough in each period to match supply and demand. The first problem studied is the issue of the existence of an equilibrium in asset markets that is very important in any theory of financial markets. In the framework of a simple model, a necessary and sufficient condition for the existence of a competitive equilibrium in asset markets is some partial agreement among economic agents concerning expected future spot prices of these assets. The chapter studies the temporary equilibrium with the quantity rationing method and to the possible contributions of this approach to the theory of employment and inflation. The basic axiom of this approach is that in the short run, quantities adjust infinitely faster than prices. One is thus led to study a model where prices are temporarily fixed in each period and equilibrium is achieved by quantity rationing. The chapter also presents an evaluation of the equilibrium concepts used in this area."]
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['Wirtschaftsmathematik', 'Ökonometrie']
19
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Co", "subject": [ "Economics, Mathematical", "(classificationName=rvk)SK 980", "(classificationName=linseach:mapping)oek", "(classificationName=bk, id=106405373)83.03 - Methoden und Techniken der Volkswirtschaft", "(classificationName=rvk)QH 100", "(classificationName=ddc)330/.01/51", "Electronic books", "(classificationName=bk, id=106416332)83.00 - Volkswirtschaft: Allgemeines", "(classificationName=bk, id=106417320)85.03 - Methoden und Techniken der Betriebswirtschaft", "(classificationName=loc)HB135", "(classificationName=ddc)330.0151", "(classificationName=linseach:mapping)mat" ], "title": "Chapter 19 Temporary general equilibrium theory", "abstract": "Traditional general equilibrium theory has, for a long time, studied an economic model that is essentially static, where the agent's expectations are self-fulfilling and the equilibrium is achieved solely by the price system. The chapter presents the conceptual framework underlying temporary equilibrium models. 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['Chapter 19 Temporary general equilibrium theory']
["Traditional general equilibrium theory has, for a long time, studied an economic model that is essentially static, where the agent's expectations are self-fulfilling and the equilibrium is achieved solely by the price system. The chapter presents the conceptual framework underlying temporary equilibrium models. This chapter discusses the central role played by an agent's expectations in his or her decision-making process. This model is the microeconomic foundation of the whole theory. A few models using the temporary competitive equilibrium method are also studied in the chapter. It is postulated that prices move fast enough in each period to match supply and demand. The first problem studied is the issue of the existence of an equilibrium in asset markets that is very important in any theory of financial markets. In the framework of a simple model, a necessary and sufficient condition for the existence of a competitive equilibrium in asset markets is some partial agreement among economic agents concerning expected future spot prices of these assets. The chapter studies the temporary equilibrium with the quantity rationing method and to the possible contributions of this approach to the theory of employment and inflation. The basic axiom of this approach is that in the short run, quantities adjust infinitely faster than prices. One is thus led to study a model where prices are temporarily fixed in each period and equilibrium is achieved by quantity rationing. The chapter also presents an evaluation of the equilibrium concepts used in this area."]
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16
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['Chapter 16 Stability']
['The chapter is concerned with endogenous processes operating in an economy that brings equilibrium; the most famous and most discussed is the law of demand and supply. If, at prevailing market signals, there is a positive excess demand in a market price, it will rise; if there is a negative excess demand, it will fall. In a partial equilibrium framework when all other prices are held fixed, it seemed that this process would bring about equilibrium provided only that the excess demand in this market was a diminishing function of its price. The chapter discusses that there is a large class of economies that have unstable equilibria under the most popular form of the price mechanism. The chapter discusses the ArrowDebreu specifications in which goods are distinguished by physical characteristics, location, date of delivery, and state of nature. It is a commonplace that many of these goods lack markets in actual economies. It is also clear that many planned excess demands are not public knowledge and that one cannot sensibly retain the traditional price adjustment schema. An alternative is to study a sequence of short period equilibriaa procedure familiar from the theory of growth. The aim is to study convergence to long-run equilibrium whether in a deterministic or in a stochastic setting. Expectations and their formation are central to this kind of approach once durable goods and production lags are included. One is then concerned with convergence to rational expectation equilibrium.']
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19
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['Chapter 16 Stability']
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['Chapter 13 On the microeconomic theory of investment under uncertainty']
['This chapter describes investment theory as the study of the individual behavior of households and economic organizations in the allocation of their resources to the available investment opportunities. For the purposes of investment theory, economic organizations are characterized as being members of one of two groups: business firms that hold as assets the physical means of production for the economy and finance their production decisions by issuing financial claims or securities and financial intermediaries that hold financial claims as assets and finance these assets by issuing securities. Individuals or households are assumed to invest primarily in securities and, therefore, invest only indirectly in physical assets. The markets in which these securities are traded are called the capital markets. The natural starting point for the development of investment theory is to derive the investment behavior of individuals. It is traditional in economic theory to take the existence of households and their tastes as exogenous to the theory. However, this tradition does not extend to economic organizations and institutions. They are regarded as existing primarily because of the functions they serve instead of functioning primarily because they exist.']
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['Wirtschaftsmathematik', 'Ökonometrie']
19
3A1831647966.jsonld
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['Chapter 11 Oligopoly theory']
["The oligopoly theory usually refers to the partial equilibrium study of markets in which the demand side is competitive, while the supply side is neither monopolized nor competitive. It is exclusively concerned with single period models. The two models that are mainly discussed are Cournot's and a model based on Chamberlin. In Cournot's model, it is assumed that the products of the firms are perfect substitutes and each firm decides the output levels with price being determined in the market. The Chamberlinian model allows for imperfect substitutability among the outputs of the firms, and each firm is assumed to name prices for their products. The chapter also presents some of the basic structure for the models of multi-period oligopoly. The time structure of none of these models is explicit; however, none of them makes sense when interpreted as strictly single-period models. Thus, for the best understanding of them, it is necessary to augment them by making the time relations explicit and by making an appropriate reformulation of the firm's objective functions. The chapter also examines various models in which the time structure is explicit and the firms seek to maximize discounted profit streams. The chapter also discusses models with entry and exit of firms."]
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16
3A1831647966.jsonld
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['Chapter 11 Oligopoly theory']
["The oligopoly theory usually refers to the partial equilibrium study of markets in which the demand side is competitive, while the supply side is neither monopolized nor competitive. It is exclusively concerned with single period models. The two models that are mainly discussed are Cournot's and a model based on Chamberlin. In Cournot's model, it is assumed that the products of the firms are perfect substitutes and each firm decides the output levels with price being determined in the market. The Chamberlinian model allows for imperfect substitutability among the outputs of the firms, and each firm is assumed to name prices for their products. The chapter also presents some of the basic structure for the models of multi-period oligopoly. The time structure of none of these models is explicit; however, none of them makes sense when interpreted as strictly single-period models. Thus, for the best understanding of them, it is necessary to augment them by making the time relations explicit and by making an appropriate reformulation of the firm's objective functions. The chapter also examines various models in which the time structure is explicit and the firms seek to maximize discounted profit streams. The chapter also discusses models with entry and exit of firms."]
['1982']
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19
3A1831648180.jsonld
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['Chapter 39 Non-standard analysis with applications to economics']
['This chapter presents an introduction to nonstandard analysis and surveys its applications in mathematical economics. Nonstandard analysis is a mathematical technique, which has been widely used in diverse areas in pure and applied mathematics, including probability theory, mathematical physics, and functional analysis. It is used to formalize most areas of modern mathematics, including real and complex analysis, measure theory, probability theory, functional analysis, and point set topology; algebra is less amenable to nonstandard treatments, but even there significant applications have been found. The primary goal is to provide a careful development of nonstandard methodology in sufficient detail to allow using it in diverse areas in mathematical economics. This requires a careful study of the nonstandard treatment of real analysis, measure theory, and topological spaces. To accommodate this extended treatment of methodology the survey of work to date using nonstandard methods in mathematical economics is briefly reviewed in the chapter.']
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['Chapter 37 Monopolistic competition']
['Monopolistic competition is defined as a situation of imperfect competition with some important features: (a) the products sold are differentiated; (b) firms themselves set the price of these goods; (c) the number of sellers is large and each firm disregards the effects of its price decisions on the actions of its competitors; (d) entry is unrestricted and proceeds until profits are reduced to zero or the smallest possible number consistent with the fact that the number of firms is an integer. The chapter discusses that the theory of monopolistic competition poses important and difficult conceptual problems. It focuses on models with a generally large number of price setters and indicates in the conclusion a number of alternative presentations. It introduces a basic model and studies problems of existence of an equilibrium and endogenous product differentiation and finally discusses macroeconomic applications.']
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3A1831648202.jsonld
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['Chapter 37 Monopolistic competition']
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['Chapter 36 Equilibrium analysis with non-convex technologies']
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['Chapter 36 Equilibrium analysis with non-convex technologies']
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Co", "subject": [ "(classificationName=bk, id=106405373)83.03 - Methoden und Techniken der Volkswirtschaft", "(classificationName=linseach:mapping)oek", "(classificationName=msc)00B25", "(classificationName=bk, id=106417320)85.03 - Methoden und Techniken der Betriebswirtschaft", "(classificationName=msc)90-06", "(classificationName=ddc)330.0151", "(classificationName=msc)00A20", "(classificationName=linseach:mapping)mat", "(classificationName=bk, id=106416332)83.00 - Volkswirtschaft: Allgemeines", "(classificationName=ddc)330/.01/51", "(classificationName=loc)HB135", "Electronic books", "(classificationName=msc)*90-00", "Economics, Mathematical" ], "title": "Chapter 35 Overlapping generations", "abstract": "Competitive equilibria in economies of overlapping generations are different from competitive equilibria in economies that have extended over finitely many periods, finite economies for short. 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['Chapter 35 Overlapping generations']
['Competitive equilibria in economies of overlapping generations are different from competitive equilibria in economies that have extended over finitely many periods, finite economies for short. These differences concern the properties of competitive equilibria, such as existence, optimality and determinacy or local uniqueness; and the phenomena compatible with competitive equilibria, such as net aggregate debt or fiat money with a positive price. The chapter discusses that all the variants of the model of overlapping generations allow for infinity of time periods and hence for infinitely many commodities. This infinity of time periods and commodities is not a mathematical curiosity, but rather is central to the economic significance of the model. Consider a pay-as-you-go system of social security. In economic models in which the rationality of individuals is presumed to be unlimited, the fact that no new generation would appear at some point in the very distant future would also lead to the immediate break down of the social security system. In an economy of overlapping generations, the temporal and demographic structure is explicit, which evidently enriches the study of problems such as the transfer of value over time. It also allows the claim that the inability of individuals to trade directly with individuals whose consumption and endowment spans commence after they have perished is the distinguishing feature of economies of overlapping generations.']
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['Chapter 35 Overlapping generations']
['Competitive equilibria in economies of overlapping generations are different from competitive equilibria in economies that have extended over finitely many periods, finite economies for short. These differences concern the properties of competitive equilibria, such as existence, optimality and determinacy or local uniqueness; and the phenomena compatible with competitive equilibria, such as net aggregate debt or fiat money with a positive price. The chapter discusses that all the variants of the model of overlapping generations allow for infinity of time periods and hence for infinitely many commodities. This infinity of time periods and commodities is not a mathematical curiosity, but rather is central to the economic significance of the model. Consider a pay-as-you-go system of social security. In economic models in which the rationality of individuals is presumed to be unlimited, the fact that no new generation would appear at some point in the very distant future would also lead to the immediate break down of the social security system. In an economy of overlapping generations, the temporal and demographic structure is explicit, which evidently enriches the study of problems such as the transfer of value over time. It also allows the claim that the inability of individuals to trade directly with individuals whose consumption and endowment spans commence after they have perished is the distinguishing feature of economies of overlapping generations.']
['1991']
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['Wirtschaftsmathematik', 'Ökonometrie']
16
3A1831648237.jsonld
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['Chapter 34 Equilibrium theory in infinite dimensional spaces']
['This chapter summarizes the account of the extension of the classical general equilibrium model to an infinite dimensional setting. The classical finite dimensional theory, the commodity space is the canonical finite dimensional linear space R n . By contrast, there is no canonical infinite dimensional linear space. Different economic applications require models involving different infinite dimensional linear spaces. The mathematical discipline of functional analysis has already been well developed as a tool for the abstract study of linear spaces. The chapter follows the methodology of functional analysis and attacks the existence problem. Advantage of this method is that it yields general results, capable of application in a wide variety of specific models. An important line of research in classical general equilibrium theory has been the relationship of the core to the set of competitive allocations. In the infinite dimensional setting, an extensive body of work has been developed, which centers around the infinite-dimensional version of the DebreuScarf core convergence theorem.']
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19
3A1831648237.jsonld
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['Chapter 34 Equilibrium theory in infinite dimensional spaces']
['This chapter summarizes the account of the extension of the classical general equilibrium model to an infinite dimensional setting. The classical finite dimensional theory, the commodity space is the canonical finite dimensional linear space R n . By contrast, there is no canonical infinite dimensional linear space. Different economic applications require models involving different infinite dimensional linear spaces. The mathematical discipline of functional analysis has already been well developed as a tool for the abstract study of linear spaces. The chapter follows the methodology of functional analysis and attacks the existence problem. Advantage of this method is that it yields general results, capable of application in a wide variety of specific models. An important line of research in classical general equilibrium theory has been the relationship of the core to the set of competitive allocations. In the infinite dimensional setting, an extensive body of work has been developed, which centers around the infinite-dimensional version of the DebreuScarf core convergence theorem.']
['1991']
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16
3A1831648253.jsonld
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['Chapter 32 Sunspot equilibria in sequential markets models']
['Equilibrium with rational expectations is a central construct of modern economic theory. The chapter studies surveys, which are primarily aimed at assessing the properties and relevance of this construct in a general equilibrium framework; in particular, they are related to the issue of multiplicity of rational expectation equilibria. The viewpoint discussed in the chapter is associated with the so-called concept of sunspot equilibrium. It focuses on aspects of general equilibrium with rational expectations that have been given a central role in recent literature. It presents the problem of sunspot equilibria in the broader perspective. It also discusses an example of sunspot equilibrium and a simple economic systemnamely, a sequential economy with infinite horizon and time independent structure. Furthermore, this economy is one step forward looking and has no predetermined variable.']
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16
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['Chapter 32 Sunspot equilibria in sequential markets models']
['Equilibrium with rational expectations is a central construct of modern economic theory. The chapter studies surveys, which are primarily aimed at assessing the properties and relevance of this construct in a general equilibrium framework; in particular, they are related to the issue of multiplicity of rational expectation equilibria. The viewpoint discussed in the chapter is associated with the so-called concept of sunspot equilibrium. It focuses on aspects of general equilibrium with rational expectations that have been given a central role in recent literature. It presents the problem of sunspot equilibria in the broader perspective. It also discusses an example of sunspot equilibrium and a simple economic systemnamely, a sequential economy with infinite horizon and time independent structure. Furthermore, this economy is one step forward looking and has no predetermined variable.']
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['Chapter 31 The theory of value in security markets']
['General equilibrium theory is applied wholesale to obtain a theory of value for security markets. The modern theory of value for security markets extends general equilibrium theory in various ways: (1) it explicitly treats general multiperiod trading opportunities under uncertainty and in incomplete markets; (2) it investigates, in remarkable depth, implications of the law of one pricethat is, of arbitrage-free prices; (3) to represent security returns in convenient and testable ways, it places strong restrictions on preferences and exploits a great deal of probability theory, especially the theories of Markov processes and stochastic integration, separately and together. The chapter discusses that as financial market theory grows, it laps over the boundaries of the general equilibrium paradigm to focus on the process of price formation. The microstructure of security markets has come under increasing scrutiny; the theory of specialist market makers, for example, is gradually being filled out. The need to address asymmetric information, in particular, has led to strategic models of investment behavior. Despite the diverse aims of financial economic theory, the chapter summarizes the developments in finance that rest or build on general equilibrium theory, emphasizing the valuation of financial assets.']
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['Chapter 31 The theory of value in security markets']
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3A1831648369.jsonld
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['Chapter 19. Human Resource Management and Productivity']
['In this chapter we examine the relationship between Human Resource Management (HRM) and productivity. HRM includes incentive pay (individual and group) as well as many non-pay aspects of the employment relationship such as matching (hiring and firing) and work organization (e.g. teams, autonomy). We place HRM more generally within the literature on management practices and productivity. We start with some facts on levels and trends of both HRM and productivity and the main economic theories of HRM. We look at some of the determinants of HRMrisk, competition, ownership and regulation. The largest section analyzes the impact of HRM on productivity emphasizing issues of methodology, data and results (from micro-econometric studies). We conclude briefly with suggestions of avenues for future frontier work.']
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3A1831648385.jsonld
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['Chapter 17. New Perspectives on Gender']
['Psychological and socio-psychological factors are now more commonly discussed as possible explanations for gender differences in labor market outcomes. We first describe the (mainly) laboratory-based evidence regarding gender differences in risk preferences, in attitudes towards competition, in the strength of other-regarding preferences, and in attitudes towards negotiation. We then review the research that has tried to quantify the relevance of these factors in explaining gender differences in labor market outcomes outside of the laboratory setting. We also describe recent research on the relationship between social and gender identity norms and womens labor market choices and outcomes, as well as on the role of child-rearing practices in explaining gender identity norms. Finally, we report on some recent work documenting puzzling trends in womens well-being and discuss possible explanations for these trends, including identity considerations. We conclude with suggestions for future research.']
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19
3A1831648407.jsonld
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['Chapter 15. Human capital development before age five']
['This chapter seeks to set out what economists have learned about the effects of early childhood influences on later life outcomes, and about ameliorating the effects of negative influences. We begin with a brief overview of the theory which illustrates that evidence of a causal relationship between a shock in early childhood and a future outcome says little about whether the relationship in question is biological or immutable. We then survey recent work which shows that events before five years old can have large long term impacts on adult outcomes. Child and family characteristics measured at school entry do as much to explain future outcomes as factors that labor economists have more traditionally focused on, such as years of education. Yet while children can be permanently damaged at this age, an important message is that the damage can often be remediated. We provide a brief overview of evidence regarding the effectiveness of different types of policies to provide remediation. We conclude with a list of some of the many outstanding questions for future research.']
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3A1831648431.jsonld
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Skills, Tasks and Technologies: Implications for Employment and Earnings", "abstract": "A central organizing framework of the voluminous recent literature studying changes in the returns to skills and the evolution of earnings inequality is what we refer to as the canonical model, which elegantly and powerfully operationalizes the supply and demand for skills by assuming two distinct skill groups that perform two different and imperfectly substitutable tasks or produce two imperfectly substitutable goods. Technology is assumed to take a factor-augmenting form, which, by complementing either high or low skill workers, can generate skill biased demand shifts. In this paper, we argue that despite its notable successes, the canonical model is largely silent on a number of central empirical developments of the last three decades, including: ( 1 ) significant declines in real wages of low skill workers, particularly low skill males; ( 2 ) non-monotone changes in wages at different parts of the earnings distribution during different decades; ( 3 ) broad-based increases in employment in high skill and low skill occupations relative to middle skilled occupations (i.e., job polarization); ( 4 ) rapid diffusion of new technologies that directly substitute capital for labor in tasks previously performed by moderately skilled workers; and ( 5 ) expanding offshoring in opportunities, enabled by technology, which allow foreign labor to substitute for domestic workers specific tasks. 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['Chapter 12. Skills, Tasks and Technologies: Implications for Employment and Earnings']
['A central organizing framework of the voluminous recent literature studying changes in the returns to skills and the evolution of earnings inequality is what we refer to as the canonical model, which elegantly and powerfully operationalizes the supply and demand for skills by assuming two distinct skill groups that perform two different and imperfectly substitutable tasks or produce two imperfectly substitutable goods. Technology is assumed to take a factor-augmenting form, which, by complementing either high or low skill workers, can generate skill biased demand shifts. In this paper, we argue that despite its notable successes, the canonical model is largely silent on a number of central empirical developments of the last three decades, including: ( 1 ) significant declines in real wages of low skill workers, particularly low skill males; ( 2 ) non-monotone changes in wages at different parts of the earnings distribution during different decades; ( 3 ) broad-based increases in employment in high skill and low skill occupations relative to middle skilled occupations (i.e., job polarization); ( 4 ) rapid diffusion of new technologies that directly substitute capital for labor in tasks previously performed by moderately skilled workers; and ( 5 ) expanding offshoring in opportunities, enabled by technology, which allow foreign labor to substitute for domestic workers specific tasks. Motivated by these patterns, we argue that it is valuable to consider a richer framework for analyzing how recent changes in the earnings and employment distribution in the United States and other advanced economies are shaped by the interactions among worker skills, job tasks, evolving technologies, and shifting trading opportunities. We propose a tractable task-based model in which the assignment of skills to tasks is endogenous and technical change may involve the substitution of machines for certain tasks previously performed by labor. We further consider how the evolution of technology in this task-based setting may be endogenized. We show how such a framework can be used to interpret several central recent trends, and we also suggest further directions for empirical exploration.']
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3A1831648563.jsonld
{ "@graph": [ { "@id": "gnd:4122827-3", "sameAs": "Arbeitsmarkttheorie" }, { "@id": "gnd:4322126-9", "sameAs": "Arbeits\u00f6konomie" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648563", "@type": "bibo:Article", "creator": [ "Taber, Christopher", "French, Eric" ], "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(doi)10.1016/S0169-7218(11)00412-6", "(ppn)1831648563", "(firstid)KEP:083755462" ], "publisher": "North-Holland", "subject": [ "Treatment effects", "\u00c9conomie du travail", "Economie du travail", "Discrete choice", "Handbooks, manuals, etc", "Labor economics", "(classificationName=rvk)QC 220", "Handbooks and manuals", "Roy model", "Electronic books", "Identification", "Arbeidseconomie", "(classificationName=loc)HD4802", "(classificationName=rvk)QV 200", "(classificationName=ddc)331.19", "Selection", "(classificationName=ddc)331", "(classificationName=linseach:mapping)oek", "(classificationName=rvk)QV 000" ], "title": "Chapter 6. Identification of Models of the Labor Market", "abstract": "This chapter discusses identification of common selection models of the labor market. We start with the classic Roy model and show how it can be identified with exclusion restrictions. We then extend the argument to the generalized Roy model, treatment effect models, duration models, search models, and dynamic discrete choice models. In all cases, key ingredients for identification are exclusion restrictions and support conditions.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "537-617", "isPartOf": [ "(ppn)825903262", "(collectioncode)ZDB-1-HBE-article", "(isbn)0444534512", "(isbn13)9780444534514", "(isbn)0444534504", "(collectioncode)ZDB-1-HBE" ], "issued": "2011", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": [ { "@id": "gnd:4122827-3" }, { "@id": "gnd:4322126-9" } ], "pageStart": "537", "isLike": "doi:10.1016/S0169-7218(11)00412-6", "P30128": "Handbook of labor economics", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "subject": "http://purl.org/dc/elements/1.1/subject", "identifier": "http://purl.org/dc/elements/1.1/identifier", "contributor": "http://purl.org/dc/terms/contributor", "isPartOf": "http://purl.org/dc/terms/isPartOf", "license": "http://purl.org/dc/terms/license", "extent": "http://purl.org/dc/terms/extent", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "issued": "http://purl.org/dc/terms/issued", "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "abstract": "http://purl.org/dc/terms/abstract", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "title": "http://purl.org/dc/elements/1.1/title", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "publisher": "http://purl.org/dc/elements/1.1/publisher", "description": "http://purl.org/dc/elements/1.1/description", "pageStart": "http://purl.org/ontology/bibo/pageStart", "creator": "http://purl.org/dc/elements/1.1/creator", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Arbeitsmarkttheorie', 'Arbeitsökonomie']
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['North-Holland']
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['Chapter 6. Identification of Models of the Labor Market']
['This chapter discusses identification of common selection models of the labor market. We start with the classic Roy model and show how it can be identified with exclusion restrictions. We then extend the argument to the generalized Roy model, treatment effect models, duration models, search models, and dynamic discrete choice models. In all cases, key ingredients for identification are exclusion restrictions and support conditions.']
['2011']
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['national licence']
[[{'@id': 'gnd:4122827-3'}, {'@id': 'gnd:4322126-9'}]]
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648563']
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
19
3A1831648571.jsonld
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['Chapter 5. Program Evaluation and Research Designs']
['This chapter provides a selective review of some contemporary approaches to program evaluation. One motivation for our review is the recent emergence and increasing use of a particular kind of “program” in applied microeconomic research, the so-called Regression Discontinuity (RD) Design of Thistlethwaite and Campbell (1960) . We organize our discussion of these various research designs by how they secure internal validity: in this view, the RD design can been seen as a close “cousin” of the randomized experiment. An important distinction which emerges from our discussion of “heterogeneous treatment effects” is between ex post (descriptive) and ex ante (predictive) evaluations; these two types of evaluations have distinct, but complementary goals. A second important distinction we make is between statistical statements that are descriptions of our knowledge of the program assignment process and statistical statements that are structural assumptions about individual behavior. Using these distinctions, we examine some commonly employed evaluation strategies, and assess them with a common set of criteria for “internal validity”, the foremost goal of an ex post evaluation. In some cases, we also provide some concrete illustrations of how internally valid causal estimates can be supplemented with specific structural assumptions to address “external validity”: the estimate from an internally valid “experimental” estimate can be viewed as a “leading term” in an extrapolation for a parameter of interest in an ex ante evaluation.']
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['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648571']
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19
3A1831648601.jsonld
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['Chapter 2. Field Experiments in Labor Economics']
['We overview the use of field experiments in labor economics. We showcase studies that highlight the central advantages of this methodology, which include: (i) using economic theory to design the null and alternative hypotheses; (ii) engineering exogenous variation in real world economic environments to establish causal relations and learn about the underlying mechanisms; and (iii) engaging in primary data collection and often working closely with practitioners. To highlight the potential for field experiments to inform issues in labor economics, we organize our discussion around the individual life cycle. We therefore consider field experiments related to the accumulation of human capital, the demand and supply of labor, and behavior within firms, and close with a brief discussion of the nascent literature of field experiments related to household decision making.']
['2011']
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[[{'@id': 'gnd:4122827-3'}, {'@id': 'gnd:4322126-9'}]]
['gnd:4122827-3', 'gnd:4322126-9', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648601']
['Arbeitsmarkttheorie', 'Arbeitsökonomie']
19
3A183164861X.jsonld
{ "@graph": [ { "@id": "gnd:4122827-3", "sameAs": "Arbeitsmarkttheorie" }, { "@id": "gnd:4322126-9", "sameAs": "Arbeits\u00f6konomie" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A183164861X", "@type": "bibo:Article", "creator": [ "Firpo, Sergio", "Fortin, Nicole", "Lemieux, Thomas" ], "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(ppn)183164861X", "(firstid)KEP:083755411", "(doi)10.1016/S0169-7218(11)00407-2" ], "publisher": "North-Holland", "subject": [ "(classificationName=rvk)QC 220", "Discrimination", "(classificationName=rvk)QV 000", "(classificationName=rvk)QV 200", "Inequality", "Handbooks and manuals", "(classificationName=linseach:mapping)oek", "Wage structure", "\u00c9conomie du travail", "Wage differentials", "(classificationName=ddc)331.19", "Labor economics", "Counterfactual distribution", "Handbooks, manuals, etc", "Economie du travail", "Decomposition", "(classificationName=loc)HD4802", "Electronic books", "Arbeidseconomie", "(classificationName=ddc)331" ], "title": "Chapter 1. Decomposition Methods in Economics", "abstract": "This chapter provides a comprehensive overview of decomposition methods that have been developed since the seminal work of Oaxaca and Blinder in the early 1970s. These methods are used to decompose the difference in a distributional statistic between two groups, or its change over time, into various explanatory factors. While the original work of Oaxaca and Blinder considered the case of the mean, our main focus is on other distributional statistics besides the mean, such as quantiles, the Gini coefficient or the variance. We discuss the assumptions required for identifying the different elements of the decomposition, as well as various estimation methods proposed in the literature. We also illustrate how these methods work in practice by discussing existing applications and working through a set of empirical examples throughout the paper.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "1-102", "isPartOf": [ "(ppn)825903262", "(isbn)0444534512", "(isbn13)9780444534514", "(collectioncode)ZDB-1-HBE-article", "(isbn)0444534504", "(collectioncode)ZDB-1-HBE" ], "issued": "2011", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": [ { "@id": "gnd:4122827-3" }, { "@id": "gnd:4322126-9" } ], "pageStart": "1", "isLike": "doi:10.1016/S0169-7218(11)00407-2", "P30128": "Handbook of labor economics", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "subject": "http://purl.org/dc/elements/1.1/subject", "identifier": "http://purl.org/dc/elements/1.1/identifier", "creator": "http://purl.org/dc/elements/1.1/creator", "isPartOf": "http://purl.org/dc/terms/isPartOf", "pageStart": "http://purl.org/ontology/bibo/pageStart", "title": "http://purl.org/dc/elements/1.1/title", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "contributor": "http://purl.org/dc/terms/contributor", "extent": "http://purl.org/dc/terms/extent", "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "issued": "http://purl.org/dc/terms/issued", "description": "http://purl.org/dc/elements/1.1/description", "publisher": "http://purl.org/dc/elements/1.1/publisher", "license": "http://purl.org/dc/terms/license", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "abstract": "http://purl.org/dc/terms/abstract", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter 1. Decomposition Methods in Economics']
['This chapter provides a comprehensive overview of decomposition methods that have been developed since the seminal work of Oaxaca and Blinder in the early 1970s. These methods are used to decompose the difference in a distributional statistic between two groups, or its change over time, into various explanatory factors. While the original work of Oaxaca and Blinder considered the case of the mean, our main focus is on other distributional statistics besides the mean, such as quantiles, the Gini coefficient or the variance. We discuss the assumptions required for identifying the different elements of the decomposition, as well as various estimation methods proposed in the literature. We also illustrate how these methods work in practice by discussing existing applications and working through a set of empirical examples throughout the paper.']
['2011']
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['Arbeitsmarkttheorie', 'Arbeitsökonomie']
19
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['Subject Index of Volumes 1 and 2']
['This chapter lists the terms that have contributed to the book Economics of Innovation , Volume 1 and 2 , such as academic patenting, acquisition policy, agglomeration economy, and others. These terms have been mentioned along with the page numbers on which they have appeared in the book舒for the ease of the reader.']
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19
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['Introduction to the Series']
['Handbooks in Economics series comprises 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 of the series provides self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists on various aspects of this branch of economics. These surveys summarize not only received results, but also newer developments, from recent journal articles and discussion papers. Some original material is also included, but the main goal is to provide comprehensive and accessible surveys.']
['2010']
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['Technischer Fortschritt']
19
3A1831648903.jsonld
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Kein systematisches Downloaden durch Robots.", "identifier": [ "(ppn)1831648903", "(doi)10.1016/S0169-7218(10)01015-4", "(firstid)KEP:083755128" ], "publisher": "Elsevier, North-Holland", "subject": [ "Electronic books", "(classificationName=loc)HC79.T4", "R&D", "patents", "high-tech industries", "markets for technology", "(classificationName=rvk)QC 344", "Intellectual property", "division of labor", "Technological innovations", "(classificationName=linseach:mapping)oek", "(classificationName=ddc)338.064", "Technology transfer" ], "title": "Chapter 15. The Market for Technology", "abstract": "This chapter reviews the growing literature on the \u201cmarket for technology,\u201d a broad term that denotes trade in technology disembodied from physical goods. The market for technology flourished during the nineteenth century in the United States. 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['Chapter 15. The Market for Technology']
['This chapter reviews the growing literature on the “market for technology,” a broad term that denotes trade in technology disembodied from physical goods. The market for technology flourished during the nineteenth century in the United States. After several decades of relative decline, the market for technology has once again grown considerably in recent years, although the growth is uneven across sectors and across countries. Thus far, the literature has paid most attention to the supply of technology, and on the efficiency of market transactions in technology. A key contribution has been that the decision of firms to license depends on whether the revenues from licensing are higher than the rent-dissipation effect produced by increased competition in the licensor’s product markets. The literature has featured several factors that condition the tradeoff between licensing revenue and rent dissipation. For instance, general-purpose technologies enable the potential licensors to sell technology in product markets distant from the product operations of the licensors, and thus are more likely to be licensed. Another stream of research has focused on the factors, such as intellectual property protection, that condition the efficiency of licensing contracts. The study of the demand for external technology is less developed, and is an open area for future research. Another exciting area for future research is the relationship between the product market and the market for technology, of which a special but important case is the division of labor between technology specialists such as biotech firms, and their customers downstream, in this instance, pharmaceutical firms. The area in the most urgent need of attention is research on the consequences of the market of technology, on the rate and direction of inventive activity, and on productivity growth. This will also require a deeper understanding of the microfoundations of the market for technology.']
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['Chapter 12. Pharmaceutical Innovation']
['This chapter surveys the costs, risks, and challenges encountered in the progressive discovery and development of new pharmaceuticals. The changing methods by which drugs are discovered, the links between companies and academic science, the changing character of public regulation, and the sharp rise in the cost per new approved drug are analyzed. Determining which new drugs are both efficacious and safe poses classic statistical decision theory problems. Why patents are so important to drug developers is explored. A rent-seeking theory of new drug development is proposed to rationalize the high gross margins but only slightly supranormal returns on investment realized by pharmaceutical companies, and the puzzling economic welfare implications are investigated.']
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3A1831648989.jsonld
{ "@graph": [ { "@id": "gnd:4059252-2", "sameAs": "Technischer Fortschritt" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831648989", "@type": "bibo:Article", "creator": "Rockett, Katharine", "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(firstid)KEP:083755047", "(ppn)1831648989", "(doi)10.1016/S0169-7218(10)01007-5" ], "publisher": "Elsevier, North-Holland", "subject": [ "innovation", "incentives", "Electronic books", "(classificationName=linseach:mapping)oek", "patents", "Technological innovations", "(classificationName=loc)HC79.T4", "procurement", "(classificationName=rvk)QC 344", "(classificationName=ddc)338.064", "Technology transfer", "Intellectual property", "intellectual property rights" ], "title": "Chapter 7. Property Rights and Invention", "abstract": "We present a selective survey of the economic theory of intellectual property rights. After a brief description of the institutional framework, we discuss policy objectives and some basic welfare tradeoffs in intellectual property design. We consider the extent to which social objectives can be attained without intellectual property protection before passing on to intellectual property right design. We derive conclusions in the simplest, one-time innovation, case then investigate how these conclusions change when innovations build on each other or fit together as complements. Modifications of existing protection and optimal procurement of innovation are considered. Finally, we sketch enforcement and competition policy issues.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "315-380", "isPartOf": [ "(collectioncode)ZDB-1-HBE-article", "(collectioncode)ZDB-1-HBE", "(ppn)1428039139", "(isbn13)9780444519955" ], "issued": "2010", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": { "@id": "gnd:4059252-2" }, "pageStart": "315", "isLike": "doi:10.1016/S0169-7218(10)01007-5", "P30128": "Handbook of the economics of innovation ; 1", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "subject": "http://purl.org/dc/elements/1.1/subject", "isPartOf": "http://purl.org/dc/terms/isPartOf", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "contributor": "http://purl.org/dc/terms/contributor", "pageStart": "http://purl.org/ontology/bibo/pageStart", "abstract": "http://purl.org/dc/terms/abstract", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "publisher": "http://purl.org/dc/elements/1.1/publisher", "identifier": "http://purl.org/dc/elements/1.1/identifier", "issued": "http://purl.org/dc/terms/issued", "title": "http://purl.org/dc/elements/1.1/title", "license": "http://purl.org/dc/terms/license", "extent": "http://purl.org/dc/terms/extent", "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "creator": "http://purl.org/dc/elements/1.1/creator", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "description": "http://purl.org/dc/elements/1.1/description", "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter 7. Property Rights and Invention']
['We present a selective survey of the economic theory of intellectual property rights. After a brief description of the institutional framework, we discuss policy objectives and some basic welfare tradeoffs in intellectual property design. We consider the extent to which social objectives can be attained without intellectual property protection before passing on to intellectual property right design. We derive conclusions in the simplest, one-time innovation, case then investigate how these conclusions change when innovations build on each other or fit together as complements. Modifications of existing protection and optimal procurement of innovation are considered. Finally, we sketch enforcement and competition policy issues.']
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19
3A1831649012.jsonld
{ "@graph": [ { "@id": "gnd:4059252-2", "sameAs": "Technischer Fortschritt" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649012", "@type": "bibo:Article", "creator": "Cohen, Wesley M.", "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(ppn)1831649012", "(firstid)KEP:083755012", "(doi)10.1016/S0169-7218(10)01004-X" ], "publisher": "Elsevier, North-Holland", "subject": [ "market structure", "technological change", "Electronic books", "(classificationName=rvk)QC 344", "(classificationName=linseach:mapping)oek", "Technology transfer", "Intellectual property", "Technological innovations", "innovation", "(classificationName=ddc)338.064", "R&D", "(classificationName=loc)HC79.T4" ], "title": "Chapter 4. Fifty Years of Empirical Studies of Innovative Activity and Performance", "abstract": "This chapter reviews the empirical literature on the determination of firms\u2019 and industries\u2019 innovative activity and performance, highlighting the questions addressed, the approaches adopted, impediments to progress in the field, and research opportunities. We review the \u201cneo-Schumpeterian\u201d empirical literature that examines the effects of firm size and market concentration upon innovation, focusing on robust findings, questions of interpretation, and the identification of major gaps. We also consider the more modest literature that considers the effect on innovation of firm characteristics other than size. Finally, we review the literature that considers three classes of factors that affect interindustry variation in innovative activity and performance: demand, appropriability, and technological opportunity conditions.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "129-213", "isPartOf": [ "(collectioncode)ZDB-1-HBE", "(ppn)1428039139", "(isbn13)9780444519955", "(collectioncode)ZDB-1-HBE-article" ], "issued": "2010", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": { "@id": "gnd:4059252-2" }, "pageStart": "129", "isLike": "doi:10.1016/S0169-7218(10)01004-X", "P30128": "Handbook of the economics of innovation ; 1", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "subject": "http://purl.org/dc/elements/1.1/subject", "isPartOf": "http://purl.org/dc/terms/isPartOf", "pageStart": "http://purl.org/ontology/bibo/pageStart", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "identifier": "http://purl.org/dc/elements/1.1/identifier", "creator": "http://purl.org/dc/elements/1.1/creator", "abstract": "http://purl.org/dc/terms/abstract", "extent": "http://purl.org/dc/terms/extent", "license": "http://purl.org/dc/terms/license", "publisher": "http://purl.org/dc/elements/1.1/publisher", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "description": "http://purl.org/dc/elements/1.1/description", "title": "http://purl.org/dc/elements/1.1/title", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "contributor": "http://purl.org/dc/terms/contributor", "issued": "http://purl.org/dc/terms/issued", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter 4. Fifty Years of Empirical Studies of Innovative Activity and Performance']
['This chapter reviews the empirical literature on the determination of firms’ and industries’ innovative activity and performance, highlighting the questions addressed, the approaches adopted, impediments to progress in the field, and research opportunities. We review the “neo-Schumpeterian” empirical literature that examines the effects of firm size and market concentration upon innovation, focusing on robust findings, questions of interpretation, and the identification of major gaps. We also consider the more modest literature that considers the effect on innovation of firm characteristics other than size. Finally, we review the literature that considers three classes of factors that affect interindustry variation in innovative activity and performance: demand, appropriability, and technological opportunity conditions.']
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19
3A1831649020.jsonld
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Kein systematisches Downloaden durch Robots.", "identifier": [ "(firstid)KEP:083755004", "(doi)10.1016/S0169-7218(10)01003-8", "(ppn)1831649020" ], "publisher": "Elsevier, North-Holland", "subject": [ "evolution", "learning", "capability-based theories of the firm", "(classificationName=rvk)QC 344", "innovation", "technological regimes and trajectories", "technological paradigms", "emergent properties", "(classificationName=ddc)338.064", "industrial dynamics", "Technological innovations", "(classificationName=loc)HC79.T4", "Electronic books", "Technology transfer", "endogenous growth", "(classificationName=linseach:mapping)oek", "Intellectual property", "selection" ], "title": "Chapter 3. Technical Change and Industrial Dynamics as Evolutionary Processes", "abstract": "This chapter reviews and integrates much of what has been learned on the processes of technological evolution, their main features, and their effects on the evolution of industries. First, we map and integrate the various pieces of evidence concerning the nature and structure of technological knowledge, the sources of novel opportunities, the dynamics through which they are tapped, and the revealed outcomes in terms of advances in production techniques and product characteristics. Explicit recognition of the evolutionary manners through which technological change proceeds has also profound implications for the way economists theorize about and analyze a number of topics central to the discipline. One is the theory of the firm in industries where technological and organizational innovation is important. Indeed a large literature has grown up on this topic, addressing the nature of the technological and organizational capabilities which business firms embody and the ways they evolve over time. Another domain concerns the nature of competition in such industries, wherein innovation and diffusion affect growth and survival probabilities of heterogeneous firms. The processes of knowledge accumulation and diffusion involve winners and losers, changing distributions of competitive abilities across different firms, and, with that, changing industrial structures. Both the sector-specific characteristics of technologies and their degrees of maturity over their life cycles influence the patterns of industrial organization\u2014including size distributions, degrees of concentration, relative importance of incumbents and entrants, etc. This is the second set of topics which we address. 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['Chapter 3. Technical Change and Industrial Dynamics as Evolutionary Processes']
['This chapter reviews and integrates much of what has been learned on the processes of technological evolution, their main features, and their effects on the evolution of industries. First, we map and integrate the various pieces of evidence concerning the nature and structure of technological knowledge, the sources of novel opportunities, the dynamics through which they are tapped, and the revealed outcomes in terms of advances in production techniques and product characteristics. Explicit recognition of the evolutionary manners through which technological change proceeds has also profound implications for the way economists theorize about and analyze a number of topics central to the discipline. One is the theory of the firm in industries where technological and organizational innovation is important. Indeed a large literature has grown up on this topic, addressing the nature of the technological and organizational capabilities which business firms embody and the ways they evolve over time. Another domain concerns the nature of competition in such industries, wherein innovation and diffusion affect growth and survival probabilities of heterogeneous firms. The processes of knowledge accumulation and diffusion involve winners and losers, changing distributions of competitive abilities across different firms, and, with that, changing industrial structures. Both the sector-specific characteristics of technologies and their degrees of maturity over their life cycles influence the patterns of industrial organization—including size distributions, degrees of concentration, relative importance of incumbents and entrants, etc. This is the second set of topics which we address. Finally, in the conclusions we briefly flag some fundamental aspects of economic growth and development as an innovation-driven evolutionary process.']
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19
3A1831649039.jsonld
{ "@graph": [ { "@id": "gnd:4059252-2", "sameAs": "Technischer Fortschritt" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649039", "@type": "bibo:Article", "creator": "Mokyr, Joel", "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(firstid)KEP:083754997", "(doi)10.1016/S0169-7218(10)01002-6", "(ppn)1831649039" ], "publisher": "Elsevier, North-Holland", "subject": [ "Intellectual property", "Technological innovations", "(classificationName=linseach:mapping)oek", "(classificationName=loc)HC79.T4", "(classificationName=rvk)QC 344", "industrial enlightenment", "Technology transfer", "economic growth", "Electronic books", "industrial revolution", "(classificationName=ddc)338.064", "innovation" ], "title": "Chapter 2. The Contribution of Economic History to the Study of Innovation and Technical Change: 1750\u20131914", "abstract": "This chapter surveys the history of modern economic growth and suggests a number of mechanisms that drove the unprecedented technological thrust that account for the discontinuities of economic modernity. The Industrial Revolution and the subsequent developments did not just raise the level of technological capabilities; they changed the entire dynamics of how innovation comes about and the speeds of both invention and diffusion. For much of human history, innovation had been primarily a byproduct of normal economic activity, punctuated by periodical flashing insight that produced a macroinvention, such as water mills or the printing press. The mechanisms that account for innovation becoming a routine activity in terms of the production of useful knowledge are reviewed and linked to the \u201cBaconian program\u201d advocated by the eighteenth-century Enlightenment.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "11-50", "isPartOf": [ "(isbn13)9780444519955", "(ppn)1428039139", "(collectioncode)ZDB-1-HBE", "(collectioncode)ZDB-1-HBE-article" ], "issued": "2010", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": { "@id": "gnd:4059252-2" }, "pageStart": "11", "isLike": "doi:10.1016/S0169-7218(10)01002-6", "P30128": "Handbook of the economics of innovation ; 1", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "pageStart": "http://purl.org/ontology/bibo/pageStart", "subject": "http://purl.org/dc/elements/1.1/subject", "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "abstract": "http://purl.org/dc/terms/abstract", "isPartOf": "http://purl.org/dc/terms/isPartOf", "identifier": "http://purl.org/dc/elements/1.1/identifier", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "extent": "http://purl.org/dc/terms/extent", "description": "http://purl.org/dc/elements/1.1/description", "license": "http://purl.org/dc/terms/license", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "publisher": "http://purl.org/dc/elements/1.1/publisher", "issued": "http://purl.org/dc/terms/issued", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "contributor": "http://purl.org/dc/terms/contributor", "creator": "http://purl.org/dc/elements/1.1/creator", "title": "http://purl.org/dc/elements/1.1/title", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter 2. The Contribution of Economic History to the Study of Innovation and Technical Change: 1750–1914']
['This chapter surveys the history of modern economic growth and suggests a number of mechanisms that drove the unprecedented technological thrust that account for the discontinuities of economic modernity. The Industrial Revolution and the subsequent developments did not just raise the level of technological capabilities; they changed the entire dynamics of how innovation comes about and the speeds of both invention and diffusion. For much of human history, innovation had been primarily a byproduct of normal economic activity, punctuated by periodical flashing insight that produced a macroinvention, such as water mills or the printing press. The mechanisms that account for innovation becoming a routine activity in terms of the production of useful knowledge are reviewed and linked to the “Baconian program” advocated by the eighteenth-century Enlightenment.']
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3A1831649047.jsonld
{ "@graph": [ { "@id": "gnd:4059252-2", "sameAs": "Technischer Fortschritt" }, { "@id": "https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649047", "@type": "bibo:Article", "creator": [ "Hall, Bronwyn H.", "Rosenberg, Nathan" ], "description": "Campusweiter Zugriff (Universit\u00e4t Hannover) - Vervielf\u00e4ltigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.", "identifier": [ "(firstid)KEP:083754989", "(doi)10.1016/S0169-7218(10)01001-4", "(ppn)1831649047" ], "publisher": "Elsevier, North-Holland", "subject": [ "(classificationName=loc)HC79.T4", "Intellectual property", "(classificationName=rvk)QC 344", "Technology transfer", "(classificationName=ddc)338.064", "Technological innovations", "(classificationName=linseach:mapping)oek", "Electronic books" ], "title": "Chapter 1. Introduction to the Handbook", "abstract": "In the chapters of the book Economics of Innovation , Volume 1 , it is clear that this basic understanding of the importance of internally generated economic change for the progress of the economy and the weaknesses of static economic analysis in the face of this phenomenon occupies much of the research in innovation economics. A number of themes common to at least several of the chapters touch on this and related ideas. The first and perhaps the most important theme is the essential dynamism of the innovative process\u8212knowledge, inventions, and innovations created today build on those created in the past, and the benefits of an innovation are often not felt until it undergoes a dynamic, cumulative learning and diffusion process. An understanding of this phenomenon underlies almost all of the chapters and is perhaps most obvious in those by Thompson on learning by doing, Bresnahan on general-purpose technologies, Teece on the innovative firm, and Stoneman and Battista on diffusion.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "3-9", "isPartOf": [ "(ppn)1428039139", "(collectioncode)ZDB-1-HBE-article", "(isbn13)9780444519955", "(collectioncode)ZDB-1-HBE" ], "issued": "2010", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": { "@id": "gnd:4059252-2" }, "pageStart": "3", "isLike": "doi:10.1016/S0169-7218(10)01001-4", "P30128": "Handbook of the economics of innovation ; 1", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "isPartOf": "http://purl.org/dc/terms/isPartOf", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "subject": "http://purl.org/dc/elements/1.1/subject", "title": "http://purl.org/dc/elements/1.1/title", "abstract": "http://purl.org/dc/terms/abstract", "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "identifier": "http://purl.org/dc/elements/1.1/identifier", "license": "http://purl.org/dc/terms/license", "contributor": "http://purl.org/dc/terms/contributor", "issued": "http://purl.org/dc/terms/issued", "extent": "http://purl.org/dc/terms/extent", "pageStart": "http://purl.org/ontology/bibo/pageStart", "creator": "http://purl.org/dc/elements/1.1/creator", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "description": "http://purl.org/dc/elements/1.1/description", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "publisher": "http://purl.org/dc/elements/1.1/publisher", "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter 1. Introduction to the Handbook']
['In the chapters of the book Economics of Innovation , Volume 1 , it is clear that this basic understanding of the importance of internally generated economic change for the progress of the economy and the weaknesses of static economic analysis in the face of this phenomenon occupies much of the research in innovation economics. A number of themes common to at least several of the chapters touch on this and related ideas. The first and perhaps the most important theme is the essential dynamism of the innovative process舒knowledge, inventions, and innovations created today build on those created in the past, and the benefits of an innovation are often not felt until it undergoes a dynamic, cumulative learning and diffusion process. An understanding of this phenomenon underlies almost all of the chapters and is perhaps most obvious in those by Thompson on learning by doing, Bresnahan on general-purpose technologies, Teece on the innovative firm, and Stoneman and Battista on diffusion.']
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19
3A1831649063.jsonld
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['Preface']
['The series Handbook of Social Choice and Welfare presents, in two volumes, essays on past and ongoing work in social choice theory and welfare economics. The first volume, which consists of twelve chapters in four partsPart I ( Arrovian Impossibility Theorems ), Part II ( Voting Schemes and Mechanisms ), Part III ( Structure of Social Choice Rules ), and Part IV ( Welfare, Justice, and Poverty )was published in 2002. This is the long overdue second volume of the handbook, which also consists of four parts. In Part V ( Foundations ), some very basic issues in welfare economics and social choice theory are discussed. The topics covered include the initial insights behind and the basic functions of social choice theory, the informational basis of normative and positive social choice theory, the status of competitive market mechanisms as social choice procedures, and the main ingredients of nonwelfaristic approaches in welfare economics and social choice theory along the line of the theory of functioning and capabilities.']
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['Index']
['This chapter lists the terms that have contributed to the book Handbook of Social Choice and Welfare , such as absolute loser paradox, acyclic priority profile, aggregate interiority function, 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.']
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19
3A1831649101.jsonld
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Kein systematisches Downloaden durch Robots.", "identifier": [ "(doi)10.1016/S0169-7218(10)00027-4", "(firstid)KEP:08375492X", "(ppn)1831649101" ], "publisher": "Elsevier", "subject": [ "Electronic books", "Welfare economics", "(classificationName=loc)HB846.8", "(classificationName=msc)*91-06", "Bem-estar econ\u00f4mico", "(classificationName=linseach:mapping)oek", "Kollektiventscheidung", "\u00c9conomie du bien-\u00eatre", "(classificationName=msc)00B15", "Welvaartseconomie", "Mathematical models", "Choix collectif", "(classificationName=rvk)QC 160", "(classificationName=ddc)330.126", "Wohlfahrtstheorie", "Social choice", "(classificationName=msc)91B15", "Mod\u00e8les math\u00e9matiques", "(classificationName=ddc)330.12/6", "Escolha social (modelos matem\u00e1ticos)", "Business", "BUSINESS & ECONOMICS ; Economics ; Theory", "Escolha (teoria econ\u00f4mica)", "Social choice ; Mathematical models", "(classificationName=msc)91B14" ], "title": "Chapter Twenty-Seven. Geometry of Voting", "abstract": "It is shown how simple geometry can be used to analyze and discover new properties about pairwise and positional voting rules as well as for those rules (e.g., runoffs and Approval Voting) that rely on these methods. The description starts by providing a geometric way to depict profiles, which simplifies the computation of the election outcomes. This geometry is then used to motivate the development of a \u201cprofile coordinate system,\u201d which evolves into a tool to analyze voting rules. This tool, for instance, completely explains various longstanding \u201cparadoxes,\u201d such as why a Condorcet winner need not be elected with certain voting rules. A different geometry is developed to indicate whether certain voting \u201coddities\u201d can be dismissed or must be taken seriously, and to explain why other mysteries, such as strategic voting and the no-show paradox (where a voter is rewarded by not voting), arise. Still another use of geometry extends McGarvey's Theorem about possible pairwise election rankings to identify the actual tallies that can arise (a result that is needed to analyze supermajority voting). Geometry is also developed to identify all possible positional and Approval Voting election outcomes that are admitted by a given profile; the converse becomes a geometric tool that can be used to discover new election relationships. Finally, it is shown how lessons learned in social choice, such as the seminal Arrow's and Sen's Theorems and the expanding literature about the properties of positional rules, provide insights into difficulties that are experienced by other disciplines.", "contributor": "Technische Informationsbibliothek (TIB)", "extent": "897-945", "isPartOf": [ "(collectioncode)ZDB-1-HBE", "(isbn)0080929826", "(collectioncode)ZDB-1-HBE-article", "(ppn)1655665057", "(isbn13)9780080929828", "(isbn13)9780444508942" ], "issued": "2011", "language": "http://id.loc.gov/vocabulary/iso639-1/en", "license": "national licence", "medium": "rda:termList/RDACarrierType/1018", "dcterms:subject": [ { "@id": "gnd:4022393-0" }, { "@id": "gnd:4066735-2" } ], "pageStart": "897", "isLike": "doi:10.1016/S0169-7218(10)00027-4", "P30128": "Handbook of social choice and welfare", "P60163": "Amsterdam" } ], "@id": "urn:x-arq:DefaultGraphNode", "@context": { "subject": "http://purl.org/dc/elements/1.1/subject", "identifier": "http://purl.org/dc/elements/1.1/identifier", "language": { "@id": "http://purl.org/dc/terms/language", "@type": "@id" }, "isPartOf": "http://purl.org/dc/terms/isPartOf", "publisher": "http://purl.org/dc/elements/1.1/publisher", "P30128": "http://www.rdaregistry.info/Elements/m/#P30128", "isLike": { "@id": "http://umbel.org/umbel#isLike", "@type": "@id" }, "abstract": "http://purl.org/dc/terms/abstract", "extent": "http://purl.org/dc/terms/extent", "medium": { "@id": "http://purl.org/dc/terms/medium", "@type": "@id" }, "P60163": "http://www.rdaregistry.info/Elements/u/#P60163", "license": "http://purl.org/dc/terms/license", "title": "http://purl.org/dc/elements/1.1/title", "issued": "http://purl.org/dc/terms/issued", "pageStart": "http://purl.org/ontology/bibo/pageStart", "description": "http://purl.org/dc/elements/1.1/description", "contributor": "http://purl.org/dc/terms/contributor", "creator": "http://purl.org/dc/elements/1.1/creator", "sameAs": "http://www.w3.org/2002/07/owl#sameAs", "umbel": "http://umbel.org/umbel#", "rdau": "http://www.rdaregistry.info/Elements/u/#", "owl": "http://www.w3.org/2002/07/owl#", "dcterms": "http://purl.org/dc/terms/", "bibo": "http://purl.org/ontology/bibo/", "rdam": "http://www.rdaregistry.info/Elements/m/#", "gnd": "http://d-nb.info/gnd/", "isbd": "http://iflastandards.info/ns/isbd/elements/", "rda": "http://rdvocab.info/", "doi": "https://doi.org/" } }
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['Chapter Twenty-Seven. Geometry of Voting']
["It is shown how simple geometry can be used to analyze and discover new properties about pairwise and positional voting rules as well as for those rules (e.g., runoffs and Approval Voting) that rely on these methods. The description starts by providing a geometric way to depict profiles, which simplifies the computation of the election outcomes. This geometry is then used to motivate the development of a “profile coordinate system,” which evolves into a tool to analyze voting rules. This tool, for instance, completely explains various longstanding “paradoxes,” such as why a Condorcet winner need not be elected with certain voting rules. A different geometry is developed to indicate whether certain voting “oddities” can be dismissed or must be taken seriously, and to explain why other mysteries, such as strategic voting and the no-show paradox (where a voter is rewarded by not voting), arise. Still another use of geometry extends McGarvey's Theorem about possible pairwise election rankings to identify the actual tallies that can arise (a result that is needed to analyze supermajority voting). Geometry is also developed to identify all possible positional and Approval Voting election outcomes that are admitted by a given profile; the converse becomes a geometric tool that can be used to discover new election relationships. Finally, it is shown how lessons learned in social choice, such as the seminal Arrow's and Sen's Theorems and the expanding literature about the properties of positional rules, provide insights into difficulties that are experienced by other disciplines."]
['2011']
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['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649101']
['Kollektiventscheidung', 'Wohlfahrtstheorie']
19
3A183164911X.jsonld
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['Chapter Twenty-Six. Probabilistic and Spatial Models of Voting']
['This chapter discusses results about committees that use majority rule, some related results about majority rule as a social choice rule (that is, without referring to a specific context where majority rule is used), and results about electoral competitions where the winner is selected by majority rule.']
['2011']
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['Kollektiventscheidung', 'Wohlfahrtstheorie']
19
3A1831649128.jsonld
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['Elsevier']
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['Chapter Twenty-Five. Strategyproof Social Choice']
['This chapter surveys the literature on strategy proofness from a historical perspective. While I discuss the connections with other works on incentives in mechanism design, the main emphasis is on social choice models.']
['2011']
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['Kollektiventscheidung', 'Wohlfahrtstheorie']
19
3A1831649144.jsonld
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['Chapter Twenty-Three. Welfarism, Individual Rights, and Procedural Fairness']
["Ever since Sen crystallized the logical conflict between the welfaristic value of the Pareto principle and the nonwelfaristic value of individual libertarian rights into what he christened the impossibility of a Paretian liberal , there have been many attempts in social choice theory to generalize, or to repudiate, the conflict between welfare and rights. This chapter focuses on this logical conflict and tries to find a way of balancing these two important values in human well-being. We will identify three issues in this line of research, viz., the formal articulation of rights , the social realization of rights , and the initial conferment of rights . We will also examine the sustainability of Sen's concept of individual rights and examine the game form articulation of individual rights as a viable alternative to Sen's proposed concept."]
['2011']
['http://id.loc.gov/vocabulary/iso639-1/en']
['national licence']
[[{'@id': 'gnd:4066735-2'}, {'@id': 'gnd:4022393-0'}]]
['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649144']
['Kollektiventscheidung', 'Wohlfahrtstheorie']
19
3A1831649152.jsonld
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Kein systematisches Downloaden durch Robots.", "identifier": [ "(doi)10.1016/S0169-7218(10)00022-5", "(ppn)1831649152", "(firstid)KEP:083754873" ], "publisher": "Elsevier", "subject": [ "Mod\u00e8les math\u00e9matiques", "conditional equality", "Wohlfahrtstheorie", "(classificationName=msc)91B15", "(classificationName=ddc)330.126", "Mathematical models", "Bem-estar econ\u00f4mico", "(classificationName=rvk)QC 160", "Escolha (teoria econ\u00f4mica)", "Social choice", "Escolha social (modelos matem\u00e1ticos)", "Kollektiventscheidung", "natural reward", "Welvaartseconomie", "responsibility", "\u00c9conomie du bien-\u00eatre", "BUSINESS & ECONOMICS ; Economics ; Theory", "(classificationName=linseach:mapping)oek", "(classificationName=loc)HB846.8", "Social choice ; Mathematical models", "(classificationName=msc)91B14", "Business", "equal opportunity", "(classificationName=ddc)330.12/6", "utilitarian reward", "compensation", "(classificationName=msc)*91-06", "Welfare economics", "Electronic books", "egalitarian equivalence", "(classificationName=msc)00B15", "Choix collectif" ], "title": "Chapter Twenty-Two. Compensation and Responsibilityprotect", "abstract": "Many distributive issues involve situations in which initial characteristics make individuals unequal. In view of prevailing moral sentiments, some of these characteristics call for compensating transfers, and some do not. We study the literature on this problem of compensation. This literature follows the distinction between the ethical principle of compensation and that of responsibility. According to the former, a good resource allocation system should neutralize the differential influence over agents\u2019 outcomes of the characteristics that elicit compensation. According to the latter, a good resource allocation system should remain neutral with respect to inequality arising from the influence of characteristics that do not elicit compensation. The principle of responsibility can be interpreted as a libertarian principle of natural reward, or as a principle of utilitarian reward. Depending on whether the emphasis is put on the principle of compensation or of responsibility, and depending on how the latter is interpreted, there exist four main families of solutions to compensation problems. We review the axiomatic analyses of these four families of solutions in the different models in which they have been studied. 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['Chapter Twenty-Two. Compensation and Responsibilityprotect']
['Many distributive issues involve situations in which initial characteristics make individuals unequal. In view of prevailing moral sentiments, some of these characteristics call for compensating transfers, and some do not. We study the literature on this problem of compensation. This literature follows the distinction between the ethical principle of compensation and that of responsibility. According to the former, a good resource allocation system should neutralize the differential influence over agents’ outcomes of the characteristics that elicit compensation. According to the latter, a good resource allocation system should remain neutral with respect to inequality arising from the influence of characteristics that do not elicit compensation. The principle of responsibility can be interpreted as a libertarian principle of natural reward, or as a principle of utilitarian reward. Depending on whether the emphasis is put on the principle of compensation or of responsibility, and depending on how the latter is interpreted, there exist four main families of solutions to compensation problems. We review the axiomatic analyses of these four families of solutions in the different models in which they have been studied. We also review the applications that have been made of these solutions to problems of income taxation, education investment, social mobility and health insurance systems.']
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19
3A1831649195.jsonld
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['Chapter Eighteen. Topological Theories of Social Choice']
["This chapter presents a simple introduction to the main results in topological social choice theory. Given a continuous social welfare function, these results show the following: (i) Unanimity and Anonymity are incompatible; (ii) Weak Pareto and No Veto are incompatible; and (iii) Weak Pareto implies the existence of a Strategic Manipulator. Given the role of continuity in all these results, its justification is critically discussed. Finally, a remarkable proof of Arrow's theorem using topological methods is presented."]
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19
3A1831649209.jsonld
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['Chapter Seventeen. Arrovian Social Choice Theory on Economic Domains']
["This article surveys the literature that investigates the consistency of Arrow's social choice axioms when his unrestricted domain assumptions are replaced by domain conditions that incorporate the restrictions on agendas and preferences encountered in economic environments. Both social welfare functions and social choice correspondences are considered."]
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19
3A1831649225.jsonld
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['Chapter Fifteen. Competitive Market Mechanisms as Social Choice Procedures']
['A competitive market mechanism is a prominent example of a nonbinary social choice rule, typically defined for a special class of economic environments in which each social state is an economic allocation of private goods, and individuals’ preferences concern only their own personal consumption. This chapter begins by discussing which Pareto efficient allocations can be characterized as competitive equilibria with lump-sum transfers. It also discusses existence and characterization of such equilibria without lump-sum transfers. The second half of the chapter focuses on continuum economies, for which such characterization results are much more natural, given that agents have negligible influence over equilibrium prices.']
['2011']
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['gnd:4022393-0', 'gnd:4066735-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831649225']
['Kollektiventscheidung', 'Wohlfahrtstheorie']
19
3A1831649233.jsonld
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['Chapter Fourteen. The Informational Basis of Social Choiceprotect']
["Any procedure of social choice makes use of some types of information and ignores others. For example, the method of majority decision concentrates on people's votes, but pays no direct attention to, say, their social standings, or their prosperity or penury, or even the intensities of their preferences. The differences between distinct procedures lie, to a substantial extent, on the kind of information that each procedure uses and what it has to ignore. The informational bases of the different social choice procedures tell us a great deal about how they respectively work and what they can or cannot achieve."]
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['Kollektiventscheidung', 'Wohlfahrtstheorie']
19
3A1831649268.jsonld
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['Chapter 19. Economic and Social Impacts of the Media']
['In this survey, we review the literature on the impact of exposure to the media. We cast a wide net and cover media impacts on education, family choices, labor and migration decisions, environmental choices, health, crime, public economics, attitudes, consumption and savings, and development economics. We stress five themes. First, the demand for entertainment plays a key role, with the economic impacts emerging largely as by-products. Second, to understand the media effects, one cannot just focus on the direct effect of exposure but one needs to take into account the crowding out of alternative activities (substitution effect). Third, the sources of identification play a critical role in determining what is known: credible estimates of short- and long-run effects are available for some topics and some media but not for others. Fourth, most of the evidence on social and economic impacts is for exposure to the entertainment media such as television, as opposed to the printed press. Fifth, for the policy impacts, both the substitution effect of media exposure and the demand for entertainment play important roles.']
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19
3A1831649276.jsonld
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['Chapter 18. The Role of Media in Finance']
['This chapter reviews and synthesizes a rapidly growing subfield that analyzes the relation between media and financial markets. Research in this area identifies novel data sources, such as newspaper articles, Internet search queries, and posts on social networks, and employs inventive empirical methods, notably textual analysis, to quantify the rich information environment in modern financial markets. Such data and methods enable powerful tests of theories and have the potential to address longstanding puzzles in finance, such as why trading volume and stock price volatility are so high.']
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3A1831649306.jsonld
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['Chapter 15. Empirical Studies of Media Bias']
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3A1831649314.jsonld
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['Chapter 14. Media Bias in the Marketplace : Theory']
['We review the theoretical literature on market determinants of media bias. We present a theoretical framework that organizes key themes in the literature and discuss substantive lessons.']
['2015']
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['Medienwirtschaft']
19