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  • Macroeconomic Policy, Credibility and Politics

    Uses a game theoretic approach to explore which economic policies are 'credible' and 'politically feasible', questions that had eluded traditional macroeconomic approaches. ... Leer más

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    Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by ... Leer más

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  • Can It Happen Again?

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    Series series Routledge Classics
    In the winter of 1933, the American financial and economic system collapsed. Since then economists, policy makers and financial analysts throughout the world have been haunted by the question of whether "It" can happen again. In 2008 "It" very nearly happened again as banks and mortgage lenders in the USA and beyond collapsed. The disaster sent economists, bankers and policy makers back to the ... Leer más

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  • Essentials of Advanced Macroeconomic Theory

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    Series series Routledge Advanced Texts in Economics and Finance
    Trying to summarize the essentials of macroeconomic theory in the wake of the financial crisis that has shaken not only Western economies but also the macroeconomic profession is no easy task. In particular, the notion that markets are self-correcting and always in equilibrium appears to have taken a heavy blow. However, the jury is still out on which areas should be considered as failures and ... Leer más

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  • Systemic Liquidity Risk and Bipolar Markets

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    The dramatic and well chronicled crisis of 2007/8 marked a watershed moment for all stakeholders in global capital markets. In the aftermath, financial markets have become even more tightly coupled as correlations in returns across multiple asset classes have been at historically elevated levels. Investors and fund managers are, to a much larger degree than previously and often much more than they ... Leer más

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  • International Finance and Financial Crises: Essays in Honor of Robert P. Flood Jr.

    This book contains the proceedings of a conference held in honor of Robert P. Flood Jr. Contributors to the conference were invited to address many of the topics that Robert Flood has explored including regime switching, speculative attacks, bubbles, stock market voloatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. ... Leer más

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  • Discounting for Time and Risk in Energy Policy

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    This is a collection of theoretical papers, including contributions by Partha Dasgupta and three Nobel prize-winning economists: Kenneth Arrow, Amartya Sen, and Joseph Stiglitz. Originally published in 1982. ... Leer más

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  • Bargaining In The Shadow Of The Market: Selected Papers On Bilateral And Multilateral Bargaining

    Bargaining in the Shadow of the Market — Selected Papers on Bilateral and Multilateral Bargaining consists of selected research in bargaining carried out by Kalyan Chatterjee by himself and with various co-authors. Chatterjee has been one of the earliest researchers to work on noncooperative bargaining theory and has contributed to bilateral bargaining with parties having private information as ... Leer más

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  • Monetary Policy and Crude Oil

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    Series series New Directions in Post-Keynesian Economics series
    The global crude oil market is critically important in many respects. It is the fuel that drives the global economy and, as such, is the focus of climate policies. Moreover, crude oil is the basis of a tradable financial asset. It is therefore connected to several outstanding macroeconomic developments of recent years, including financial market fluctuations, the financial crisis and the ... Leer más

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  • Discounting and Environmental Policy

    Edición de Joel Scheraga ...
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    This book was published in 2003.The "International Library of Environmental Economics and Policy" explores the influence of economics on the development of environmental and natural resource policy. In a series of 25 volumes, the most significant journal essays in key areas of contemporary environmental and resource policy are collected. Scholars who are recognized for their expertise and ... Leer más

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