Всего публикаций в данном разделе: 78
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Financial Liberalization [книги]
Опубликовано на портале: 02-09-2003
Gerard Caprio, Patrick Honohan, Joseph E. Stiglitz
Cambridge: Cambridge University Press, 2001
This volume addresses one of the most topical and controversial issues in banking
and financial policy. It explains why governments have felt the need to liberalize
banking and finance, for example, by privatizing banks and allowing interest rates
to be set by the market. It describes how the consequences have not always been smooth,
and considers how financial liberalizations could be approached better in the future.
In addition to a clear and concise presentation of current theories and global experience,
there are six carefully chosen country case studies.



Опубликовано на портале: 31-12-2003
David Card
Amsterdam: North-Holland, 1999, cерия "Handbooks in Economics", vol. 3a
Education plays a central role in modern labor markets. Hundreds of studies in many different countries and time periods have confirmed that better-educated individuals earn higher wages, experience less unemployment, and work in more prestigious occupations than their less-educated counterparts.1 Despite the overwhelming evidence of a positive correlation between education and labor market status, social scientists have been cautious to draw strong inferences about the causal effect of schooling. In the absence of experimental evidence, it is very difficult to know whether the higher earnings observed for better-educated workers are caused by their higher education, or whether individuals with greater earning capacity have chosen to acquire more schooling.
Economists' interest in this issue was stimulated in the late 1950s by growth accounting exercises which found that rising education levels could explain much of post-war US productivity growth, leaving little room for technological change (see, e.g., Becker, 1964; Griliches, 1970). Skeptics noted that this conclusion was only valid if the observed cross-sectional earnings differences between education groups reflected true productivity differentials, rather than inherent ability differences that happened to be correlated with education (e.g., Denison, 1964). The emergence of large-scale microeconomic datasets in the 1960s led to an outpouring of research on education and earnings, much of it focussed on the issue of "ability bias" in the earnings differentials between more- and less-educated workers. In his landmark survey of the 1960s and 1970s literature, Griliches (1977) concluded that such biases were small - potentially even smaller than other biases that lead measured earnings differences to understate the causal effect of education. In his earlier review of the evidence, Becker (1964) had similarly concluded that ability biases were overstated by critics of the human capital paradigm.2 Despite the careful reasoning of these earlier surveys, however, many analysts continue to believe that the measured partial correlation between schooling and earnings significantly overstates the true causal effect of education, and that findings to the contrary are counter-intuitive.
Economists' interest in this issue was stimulated in the late 1950s by growth accounting exercises which found that rising education levels could explain much of post-war US productivity growth, leaving little room for technological change (see, e.g., Becker, 1964; Griliches, 1970). Skeptics noted that this conclusion was only valid if the observed cross-sectional earnings differences between education groups reflected true productivity differentials, rather than inherent ability differences that happened to be correlated with education (e.g., Denison, 1964). The emergence of large-scale microeconomic datasets in the 1960s led to an outpouring of research on education and earnings, much of it focussed on the issue of "ability bias" in the earnings differentials between more- and less-educated workers. In his landmark survey of the 1960s and 1970s literature, Griliches (1977) concluded that such biases were small - potentially even smaller than other biases that lead measured earnings differences to understate the causal effect of education. In his earlier review of the evidence, Becker (1964) had similarly concluded that ability biases were overstated by critics of the human capital paradigm.2 Despite the careful reasoning of these earlier surveys, however, many analysts continue to believe that the measured partial correlation between schooling and earnings significantly overstates the true causal effect of education, and that findings to the contrary are counter-intuitive.


Опубликовано на портале: 29-11-2003
Javier Guillem Carrau, Raul Compes Lopez
2002
The United States is the leading country in the application of biotechnology to
agricultural methods. One of the principal reasons for this is the flexibility of
its
legislation on Genetically Modified Organisms (GMO). A significant part of its
production of soya or corn is already genetically modified, so that its companies
need to
avoid technical barriers to their exports in the world markets?. In the EU, negative
public opinion has contributed to the adoption by the authorities of exigent legislation
in
order to avoid the possible risks to human health and the environment posed by GMO.
The EU’s authorisation procedure for these organisms is long and meticulous.
Furthermore, a compulsory labelling system has been adopted for products, which contain GMO or genetically modified materials (GM materials). In 1998, American interests started to be adversely affected by European legislation. The USA Administration threatened to sue the EU before the World Trade Organisation (WTO). These threats have yet to be followed up with any action. The rules of international trade are regulated by agreements signed up to by the members of the WTO. The EU can argue that its authorisation procedure is designed to reduce the risks to health and the environment. This line of argument is compatible with the Agreements on Sanitary and Phytosanitary Measures (SPS) and Technical Barriers to Trade (TBT). The compulsory labelling system is also compatible with the Agreement on TBT if the WTO accepts that a product in which GM material is detected is not similar to a conventional one. The Protocol of Biosafety further supports the EU position since it advocates a cautious approach exemplified by the fact that the Protocol permits consideration of non-scientific risks during risk assessment. However, the Protocol is not yet in force, it is pending ratification by at least 50 countries and, now more than ever, it is uncertain whether the United States will be willing to ratify the Protocol. However, we cannot be sure that there will be future commercial controversy, which will show the contradictions between the commercial agreement and the environmental one.
Furthermore, a compulsory labelling system has been adopted for products, which contain GMO or genetically modified materials (GM materials). In 1998, American interests started to be adversely affected by European legislation. The USA Administration threatened to sue the EU before the World Trade Organisation (WTO). These threats have yet to be followed up with any action. The rules of international trade are regulated by agreements signed up to by the members of the WTO. The EU can argue that its authorisation procedure is designed to reduce the risks to health and the environment. This line of argument is compatible with the Agreements on Sanitary and Phytosanitary Measures (SPS) and Technical Barriers to Trade (TBT). The compulsory labelling system is also compatible with the Agreement on TBT if the WTO accepts that a product in which GM material is detected is not similar to a conventional one. The Protocol of Biosafety further supports the EU position since it advocates a cautious approach exemplified by the fact that the Protocol permits consideration of non-scientific risks during risk assessment. However, the Protocol is not yet in force, it is pending ratification by at least 50 countries and, now more than ever, it is uncertain whether the United States will be willing to ratify the Protocol. However, we cannot be sure that there will be future commercial controversy, which will show the contradictions between the commercial agreement and the environmental one.


Опубликовано на портале: 02-09-2003
Glenn Carroll, David J. Teece
New York: Oxford University Press, 1999
This book examines transaction cost economics, the influential theoretical perspective
on organizations and industry that was the subject of Oliver Williamson's seminal
book,Markets and Hierarchies (1975). Written by leading economists, sociologists,
and political scientists, the essays collected here reflect the fruitful intellectual
exchange that is occurring across the major social science disciplines. They examine
transaction cost economics' general conceptual orientation, its specific theoretical
propositions, its applications to policy, and its use in systematic empirical research.
The chapters include classic texts, broad review essays, reflective commentaries,
and several new contributions to a wide range of topics, including organizations,
regulations and law, institutions, strategic management, game theory, entrepreneurship,
innovation, finance, and technical information.



Опубликовано на портале: 15-07-2005
Bernard Casey
1997
Этот отчёт основан на телефоннои исследовании 809 академиков Великобритании, проведённом
в 96 - 97 гг. Опрос касался следующих тем: студенты и их обучение, научные исследования
и научное руководство, распределение времени и управление, условия найма на работу.



Опубликовано на портале: 21-10-2003
Mark Casson, a respected economist, sets out in a rigorous but accessible way, the
theory that the culture in which a firm operates has a profound effect on its productivity.
One of the topics covered by this book - the role of leadership and manipulation
of performance in business culture - is very important and has been largely neglected
until now.


Europeanization, Varieties of Capitalism and Economic Performance in Central and
Eastern Europe [книги]
Опубликовано на портале: 22-12-2006
Lucian Cernat
New-York: Palgrave Macmillan, 2006, cерия "Studies in Economic Transition", 240 с.
Using a new theoretical framework combining insights from Europeanization, globalization,
varieties of capitalism, and policy transfer literature, this book could not be more
timely, in the lead up to the next wave of EU eastward enlargement. Containing rigorous
quantitative analyses and detailed qualitative evidence, this book reconceptualizes
the dynamics taking place during the EU enlargement process of Central and Eastern
European countries and makes a major contribution to the understanding of the relationships
between institutional transformation and economic performance.



Опубликовано на портале: 29-11-2003
Claire Chambolle, Eric Giraud-Heraud
2002
We analyse the competition in quality and quantity between a foreign firm and
a domestic firm. The domestic firm can belong to a certification of origin, whereas
its rival uses a pure brand strategy. We will show how the certification can allow
the domestic firm to position itself as a high quality producer and improve the
average quality of the products offered on the market. If, however, the certified
firm offers the low quality good, the certification can permit it to guarantee a
higher profit than that of its competitor and to improve the consumers’ surplus
by
favoring product standardisation.


Опубликовано на портале: 03-10-2004
Don M. Chance
Fort Worth, TX: Harcount College Publishers, 2001
It has now been eleven years since the first edition of this book came out.
Probably no area in finance has undergone as much change as that of derivatives
and risk management. In fact, this book was once called An Introduction
to Options and Futures. The previous edition was called An Introduction
to Derivatives. Reflecting the continuing change in the industry, we
are now calling it An Introduction to Derivatives and Risk Management.
Who knows what the sixth edition will be called? (Any suggestions?) But looking
on the bright side, a dynamic field makes for an exciting subject to study
and one well worth exploring for its potential for career development.
This book is all about the study of financial instruments called derivatives.
The types of derivatives you will learn about are options, forwards, futures,
swaps and a number of variations of these basic instruments. Derivatives
are powerful and effective tools for altering the risk of an organization
or portfolio of securities. In this book you will learn the characteristics
of these instruments, how they are priced, how they are used in strategies,
and how to manage the risk they create as well as how to use them to manage
already-existing risk.





Essays in Derivatives [книги]
Опубликовано на портале: 03-10-2004
Don M. Chance
New Hope: Frank J. Fabozzi Associates, 1998
This book is a collection of 70 short, non-technical essays on a variety of topics
in derivatives. If you have previously read some of my internet essays in my series
called DRU, these are the published versions of them. In fact, DRU is no longer available.
However, these essays have been polished and are in much better shape than what you
previously saw.





Опубликовано на портале: 27-07-2004
Authors study financial fragility, exchange rate crises and monetary policy in an
open economy model in which banks are maturity transformers as in Diamond-Dybvig.
The banking system, the exchange rate regime, and central bank credit policy are
seen as parts of a mechanism intended to maximize social welfare; if the mechanism
fails, banking crises and speculative attacks become possible. Authors compare currency
boards, fixed rate and flexible rates, with and without a lender of last resort.
A currency board cannot implement a socially optimal allocation; in addition, under
a currency board bank runs are possible. A fixed exchange rate system may implement
the social optimum but is more prone to bank runs and exchange rate crises than a
currency board. Larger capital inflows enhance welfare if the no-run equilibrium
occurs, but may also render the economy more vulnerable to self-fulfilling runs.
A flexible exchange rate system implements the social optimum and eliminates runs,
provided the exchange rate and central bank lending policies of the central bank
are appropriately designed.


Опубликовано на портале: 30-07-2004
Financial Time Series study enables the prediction of financial trends and futures.
This book represents the outcome of a refined and concise set of lecture notes, which
balance theory and applications in time series, along financial domains. It affords
the reader the opportunity to acquire knowledge of knowing the underpinnings of time
series modeling in order to get a better understanding of the ever-changing dynamics
of the financial world.


Опубликовано на портале: 25-12-2003
Hannah Chaplin, Sophia Moissey Davidova, Matthew Gorton
Durban, 2003
Survey evidence from three Central European Countries (Czech Republic, Hungary and
Poland) is analysed
to identify the degree of non-agricultural farm diversification and the factors facilitating
or impeding it in
individual farms. The effect of diversification on rural job creation is investigated.
The results indicate that
the level of diversification is relatively small and enterprise diversification by
farmers is unlikely to generate
sufficient new jobs and solve the problem of high rural unemployment. The attempt
to transpose the Western
European model of agricultural diversification to the acceding countries via the
SAPARD programme is
questionable, as non-farm centric rural policies appear to be more appropriate.


Опубликовано на портале: 27-01-2003
Kiren Aziz Chaudhry
Ithaca: Cornell University Press, 1997
Comparing boom-bust cycles, Chaudhry exposes the alternating social and organizational
origins of institutions, arguing that both broad changes in the international economy
and specific forms of international integration shape institutional outcomes. Labor
and oil exporters thus experience identical economic cycles but generate radically
different state, market, and financial institutions in response to different resource
flows.



Опубликовано на портале: 04-01-2004
Ming-Chin Chin, Robert D. Weaver
Zaragoza, 2002
Theoretical and simulation results clarify the role of forward procurement contracting
as a determinant of spot price levels and volatility. A stylized model determines
market
share across quality when procurers forward contract to manage quality risk. Actual
supply is specified as price dependent and stochastic. Simulation examines sensitivity
of
spot price level and volatility to extent of forward contracting, risk aversion,
and ability
to adjust spot market demand (recontracting).
The results show that as forward contracting increases mean spot price decreases and variance increases. This effect increases as risk aversion decreases and as the extent of recontracting adjustment in spot demand decreases.
The results show that as forward contracting increases mean spot price decreases and variance increases. This effect increases as risk aversion decreases and as the extent of recontracting adjustment in spot demand decreases.

