Economics of Banking presents a thorough overview and analysis of the key aspects of financial intermediation necessary to understand this field. Based on the latest theory, and supporting arguments with practical examples, Hans Keiding discusses the problems of competition, risk taking in banks and the irregularities that may occur as a result. Banks in distress and avoiding bank failures through suitable regulation are also treated in a rigorous, yet easy-to-understand way. Economics of Banking: - Treats financial intermediation both from the point of view of the bank itself and from that of society - Covers both microeconomics of banking and risk management in banks - Offers more complicated mathematics as optional. A comprehensive advanced undergraduate or master's level textbook for students in banking, economics and finance who need to get to grips with the economic theory of banks.
As a relatively young discipline, health economics as it appears today contains many features which can be traced back to its beginnings. Since it arose in the interface between the medical sciences and economics, the way of dealing with problems were often influenced by traditions which were well-established in the medical profession, while the classical way of thinking of economists came was filtering through at a slower pace. This means that much of both teaching and research in health economics puts the emphasis on collecting and analysing data on health and healthcare as well as on public and private outlays on healthcare. This is an extreme useful and worthwhile activity, and much new and valuable information is produced in this way, but occasionally there is a need for in-depth understanding of what is going on, rather than an estimated equation which comes from nowhere. This is where economic theory can offer some support.The present book is an introduction to health economics where the emphasis is on theory, with the aim of providing explanation of phenomena as far as possible given the current level of economics.
Modern welfare economics as it is known today to economists took its final shape with the emergence of the Arrow-Debreu model. The classical conjectures about the beneficient workings of markets together with the converse statement, that optimal (in the sense of Pareto) allocations may be sustained by prices and markets, has laid a firm foundation for further research in welfare economics. But more than that, it has inspired researchers to take up entirely new topics, notably by closer considerations of situations where the assumptions of the original model may seem overly restrictive. One of these new directions has been connected with generalizing the model so that it takes into account the possibility of infinitely many commodities. On the face of it, the idea of an infinity of commodities may seem a mathematical fancy having no "real" counterpart in economic life. This is not so, however. Quite to the contrary, infinity enters in a very natural way when it is taken into account that economic transactions take place over time. 2 In the Arrow-Debreu formalism, time may be incorporated into the model in a very simple way using dated commodities. Thus two commodities are considered as being different if they are to be delivered at different points of time.
The present book treats a highly specialized topic, namely effec tivity functions, which are a tool for describing the power structure implicit in social choice situations of various kind. One of the ad vantages of effectivity functions is that they seem to contain exactly the information which is needed in several problems of implementa tion, that is in designing the rules for individual behaviour given that this behaviour at equilibrium should result in a prescribed functional connection between preferences and outcome. We shall be interested in both formal properties of effectiv ity functions and applications of them in social choice theory, and among such applications in particular the implementation problem. This choice of emphasis necessarily means that some other topics are treated only superficially or not at all. We do not attempt to cover all contributions to the field, rather we try to put some of the results together in order to get a reasonably coherent theory about the role of the power structure in cooperative implementation. The authors are indebted to many persons for assistance and advice during the work on this book. In particular, we would like to thank Peter Fristrup and Bodil Hansen for critical reading of the manuscript, and Lene Petersen for typesetting in '.lEX.
This book is intended as an introduction to game theory which goes beyond the field of application, economics, and which introduces the reader to as many different sides of game theory as possible within the limitations of an introduction. The main goal is to give an impression of the diversity of game theoretical models, while at the same time covering the standard topics. The book has an equal coverage of non-cooperative and cooperative games, and it covers several topics such as selecting Nash equilibria, non-transferable utility games, applications of game theory to logic, combinatorial and differential games.
Economics of Banking presents a thorough overview and analysis of the key aspects of financial intermediation necessary to understand this field. Based on the latest theory, and supporting arguments with practical examples, Hans Keiding discusses the problems of competition, risk taking in banks and the irregularities that may occur as a result. Banks in distress and avoiding bank failures through suitable regulation are also treated in a rigorous, yet easy-to-understand way. Economics of Banking: - Treats financial intermediation both from the point of view of the bank itself and from that of society - Covers both microeconomics of banking and risk management in banks - Offers more complicated mathematics as optional. A comprehensive advanced undergraduate or master's level textbook for students in banking, economics and finance who need to get to grips with the economic theory of banks.
This book provides a comprehensive introduction to general equilibrium theory, covering the standard topics as well as the developments of the theory over the past fifty years. This ensures that the reader gains a thorough account of what has been established both in pure theory and in applications.In addition to the basic topics, this book elaborates on fields which are relevant but not mentioned frequently in this context. The material covered includes international trade, growth, finance and implementation, and it offers a broader view than what is usual in texts on general equilibrium theory. This book would make for suitable reading for undergraduate and graduate courses in macroeconomics.
There is a huge amount of literature on statistical models for the prediction of survival after diagnosis of a wide range of diseases like cancer, cardiovascular disease, and chronic kidney disease. Current practice is to use prediction models based on the Cox proportional hazards model and to present those as static models for remaining lifetime a
This monograph reviews some of the work that has been done for longitudi nal data in the rapidly expanding field of nonparametric regression. The aim is to give the reader an impression of the basic mathematical tools that have been applied, and also to provide intuition about the methods and applications. Applications to the analysis of longitudinal studies are emphasized to encourage the non-specialist and applied statistician to try these methods out. To facilitate this, FORTRAN programs are provided which carry out some of the procedures described in the text. The emphasis of most research work so far has been on the theoretical aspects of nonparametric regression. It is my hope that these techniques will gain a firm place in the repertoire of applied statisticians who realize the large potential for convincing applications and the need to use these techniques concurrently with parametric regression. This text evolved during a set of lectures given by the author at the Division of Statistics at the University of California, Davis in Fall 1986 and is based on the author's Habilitationsschrift submitted to the University of Marburg in Spring 1985 as well as on published and unpublished work. Completeness is not attempted, neither in the text nor in the references. The following persons have been particularly generous in sharing research or giving advice: Th. Gasser, P. Ihm, Y. P. Mack, V. Mammi tzsch, G . G. Roussas, U. Stadtmuller, W. Stute and R.
Until now, techniques for studying biofilms- the cellular colonies that live in drinking water systems, wastewater operations, even ground and surface water- have been limited. Yet during the last decade, biofilms have become a critical element in water quality preservation systems, a key component of wastewater treatment biological reactions and t
Including new developments and publications which have appeared since the publication of the first edition in 1995, this second edition: *gives a comprehensive introductory account of event history modeling techniques and their use in applied research in economics and the social sciences; *demonstrates that event history modeling is a major step forward in causal analysis. To do so the authors show that event history models employ the time-path of changes in states and relate changes in causal variables in the past to changes in discrete outcomes in the future; and *introduces the reader to the computer program Transition Data Analysis (TDA). This software estimates the sort of models most frequently used with longitudinal data, in particular, discrete-time and continuous-time event history data. Techniques of Event History Modeling can serve as a student textbook in the fields of statistics, economics, the social sciences, psychology, and the political sciences. It can also be used as a reference for scientists in all fields of research.
Event History Analysis With Stata provides an introduction to event history modeling techniques using Stata (version 9), a widely used statistical program that provides tools for data analysis. The book emphasizes the usefulness of event history models for causal analysis in the social sciences and the application of continuous-time models. T
Despite significant progress due to public health campaigns and other policy efforts, smoking continues to be a serious health threat throughout the world. In addition, sedentary lifestyles, poor diet, and obesity continue to be major causes of chronic diseases. The Health Impact of Smoking and Obesity and What to Do about It synthesizes a vast quantity of recent data on the benefits and cost-effectiveness of both clinical and public health interventions in addressing the risk factors of smoking and obesity. A large proportion of chronic disease is preventable. The Health Impact of Smoking and Obesity and What to Do about It provides solid evidence and practical advice to health care planners, decision-makers, and frontline providers alike. The volume discusses various approaches to measuring disease burden and setting health care targets, and provides a summary of interventions of proven effectiveness. Taking into account the vital lessons learned from the experience of tobacco control over forty years, and focusing on the current state of the evidence for obesity control, the study stresses the importance of comprehensive strategies that deal with both individual behaviour changes and the need to encourage social contexts that enhance healthy choices and lifestyles.
Key advances in Semiconductor Terahertz (THz) Technology now promises important new applications enabling scientists and engineers to overcome the challenges of accessing the so-called "terahertz gap". This pioneering reference explains the fundamental methods and surveys innovative techniques in the generation, detection and processing of THz waves with solid-state devices, as well as illustrating their potential applications in security and telecommunications, among other fields. With contributions from leading experts, Semiconductor Terahertz Technology: Devices and Systems at Room Temperature Operation comprehensively and systematically covers semiconductor-based room temperature operating sources such as photomixers, THz antennas, radiation concepts and THz propagation as well as room-temperature operating THz detectors. The second part of the book focuses on applications such as the latest photonic and electronic THz systems as well as emerging THz technologies including: whispering gallery resonators, liquid crystals, metamaterials and graphene-based devices. This book will provide support for practicing researchers and professionals and will be an indispensable reference to graduate students in the field of THz technology. Key features: Includes crucial theoretical background sections to photomixers, photoconductive switches and electronic THz generation & detection. Provides an extensive overview of semiconductor-based THz sources and applications. Discusses vital technologies for affordable THz applications. Supports teaching and studying increasingly popular courses on semiconductor THz technology.
This book provides a solid scientific basis for researchers, practitioners and students interested in the application of genetic principles to tropical forest ecology and management. It presents a concise overview of genetic variation, evolutionary processes and the human impact on forest genetic resources in the tropics. In addition, modern tools to assess genetic diversity patterns and the dynamics of genetic structures are introduced to the non-specialist reader.
This book explains how to translate biological assumptions into mathematics to construct useful and consistent models, and how to use the biological interpretation and mathematical reasoning to analyze these models. It shows how to relate models to data through statistical inference, and how to gain important insights into infectious disease dynamics by translating mathematical results back to biology.
Provides an introduction to the structure and function of biomolecules --- especially proteins --- and the physical tools used to investigate them The discussion concentrates on physical tools and properties, emphasizing techniques that are contributing to new developments and avoiding those that are already well established and whose results have already been exploited fully New tools appear regularly - synchrotron radiation, proton radiology, holography, optical tweezers, and muon radiography, for example, have all been used to open new areas of understanding
Hepatology -- a systematic overview The 1st edition was sold out within one year and a reprint became necessary. The 2nd edition has been updated, revised and extended to include some 900 pages. Unique - 477 top-quality coloured figures containing clinical and immunological findings, laparoscopic and and histologic features as well as imaging procedures - all figures directly integrated in the respective text; this results in a new form of learning from "seeing" to "understanding" Attractive - 306 tables in colour - coloured highlighting of important principles and statements for better reading - well-structured and systematic approaches support the content - derived from clinical hepatology for practical use by specialists and in hospital Instructive - detailed presentation of morphology and its integration in liver disease - precise recommendations for therapy and summarized descriptions of special forms of treatment (inlcuding a separate chapter on "Therapy" Manual - about 7,000 references are listed in full; quotations of significant historical publications - first authors of therapy procedures, methods, medical techniques and invasive measures are given as far as possible - comprehensive subject index and register of abbreviations
This monograph grew out of a project which was sponsored by the Swiss National Foundation ("Schweizerischer Nationalfonds") under grant no. 4. 636-0. 83. 09. Yithin this project, prediction-oriented estimation methods for the canonical econometric disequilibrium model were developed. The present monograph deals with the application of these estimation techniques to three aggregative markets of the Swiss economy. Parts of the monograph have been presented at various places: the estimation techniques described in chapter 3 at the European Meeting of the Econometric Society, Madrid 1984; the application to residential investment described in chapter 4 at a symposium on housing policy at the University of Mannheim, 1984; the empirical study on the money stock described in chapter 5 at the Symposium on Money, Banking and Insurance held at the University of Karlsruhe, 1984, as well as at a joint seminar of the University of Basle and the Bank for International Settlements (BIS), 1985; and, finally, the empirical study on the aggregate labor market described in chapter 6 at a seminar of the University of ZUrich, 1985. Comments from toe seminar participants, in particular from Palle S. Andersen (BIS) who served as a discussant, Pascal Bridel (Swiss National Bank, SNB), Franz Ettlin (SNB), and Kurt Schiltknecht (Nordfinanz-Bank, Zurich) are gratefully acknowledged, without implying any responsibility on their part. The methodological part described in chapters 2 and 3 is contributed by G. Frei and B.
Is the business cycle obsolete?" This often cited title of a book edited by Bronfenbren ner with the implicit affirmation of the question reflected the attitude of mainstream macroeconomics in the Sixties regarding the empirical relevance of cyclic motions of an economy. The successful income policies, theoretically grounded in Keynesian macroec onomics, seemed to have eased or even abolished the fluctuations in West,ern economies which motivated studies of many classical and neoclassical economists for more than 100 years. The reasoning behind the conviction that business cycles would increasingly become irrelevant was rather simple: if an economy fluctuates for whatever reason, then it is almost always possible to neutralize these cyclic motions by means of anti-cyclic demand policies. From the 1950's until the mid-Sixties business cycle theory had often been consid ered either as an appendix to growth theory or as an academic exercise in dynamical economics. The common business cycle models were essentially multiplier-accelerator models whose sensitive dependence on parameter values (in order to be called busi ness cycle models) suggested a rather improbable occurrence of continuing oscillations. The obvious success in compensating business cycles in those days prevented intensive concern with the occurrence of cycles. Rather, business cycle theory turned into sta bilization theory which investigated theoretical possibilities of stabilizing a fluctuating economy. Many macroeconomic textbooks appeared in the Sixties which consequently identified business cycle theory with inquiries on the possibilities to stabilize economies 2 Introduction by means of active fiscal or monetary policies.
This book provides a comprehensive introduction to general equilibrium theory, covering the standard topics as well as the developments of the theory over the past fifty years. This ensures that the reader gains a thorough account of what has been established both in pure theory and in applications.In addition to the basic topics, this book elaborates on fields which are relevant but not mentioned frequently in this context. The material covered includes international trade, growth, finance and implementation, and it offers a broader view than what is usual in texts on general equilibrium theory. This book would make for suitable reading for undergraduate and graduate courses in macroeconomics.
This book is intended as an introduction to game theory which goes beyond the field of application, economics, and which introduces the reader to as many different sides of game theory as possible within the limitations of an introduction. The main goal is to give an impression of the diversity of game theoretical models, while at the same time covering the standard topics. The book has an equal coverage of non-cooperative and cooperative games, and it covers several topics such as selecting Nash equilibria, non-transferable utility games, applications of game theory to logic, combinatorial and differential games.
As a relatively young discipline, health economics as it appears today contains many features which can be traced back to its beginnings. Since it arose in the interface between the medical sciences and economics, the way of dealing with problems were often influenced by traditions which were well-established in the medical profession, while the classical way of thinking of economists came was filtering through at a slower pace. This means that much of both teaching and research in health economics puts the emphasis on collecting and analysing data on health and healthcare as well as on public and private outlays on healthcare. This is an extreme useful and worthwhile activity, and much new and valuable information is produced in this way, but occasionally there is a need for in-depth understanding of what is going on, rather than an estimated equation which comes from nowhere. This is where economic theory can offer some support.The present book is an introduction to health economics where the emphasis is on theory, with the aim of providing explanation of phenomena as far as possible given the current level of economics.
The first part of this book contains the material for a course in standard microeconomics and general equilibrium. These chapters contain the necessary background on commodities, consumers, producers, as well as the classical results about the existence of general (Walras) equilibria and the fundamentals of welfare theory. The second part of the book may be seen as a continuation dealing with more advanced topics.This textbook shows how the general equilibrium theory can be put into use to provide new insights into various fields of economic science. The reader does not need previous particular mathematical training; the formal approach is introduced in a piecemeal fashion, so that no difficult mathematics occurs in the beginning.
The present book treats a highly specialized topic, namely effec tivity functions, which are a tool for describing the power structure implicit in social choice situations of various kind. One of the ad vantages of effectivity functions is that they seem to contain exactly the information which is needed in several problems of implementa tion, that is in designing the rules for individual behaviour given that this behaviour at equilibrium should result in a prescribed functional connection between preferences and outcome. We shall be interested in both formal properties of effectiv ity functions and applications of them in social choice theory, and among such applications in particular the implementation problem. This choice of emphasis necessarily means that some other topics are treated only superficially or not at all. We do not attempt to cover all contributions to the field, rather we try to put some of the results together in order to get a reasonably coherent theory about the role of the power structure in cooperative implementation. The authors are indebted to many persons for assistance and advice during the work on this book. In particular, we would like to thank Peter Fristrup and Bodil Hansen for critical reading of the manuscript, and Lene Petersen for typesetting in '.lEX.
Modern welfare economics as it is known today to economists took its final shape with the emergence of the Arrow-Debreu model. The classical conjectures about the beneficient workings of markets together with the converse statement, that optimal (in the sense of Pareto) allocations may be sustained by prices and markets, has laid a firm foundation for further research in welfare economics. But more than that, it has inspired researchers to take up entirely new topics, notably by closer considerations of situations where the assumptions of the original model may seem overly restrictive. One of these new directions has been connected with generalizing the model so that it takes into account the possibility of infinitely many commodities. On the face of it, the idea of an infinity of commodities may seem a mathematical fancy having no "real" counterpart in economic life. This is not so, however. Quite to the contrary, infinity enters in a very natural way when it is taken into account that economic transactions take place over time. 2 In the Arrow-Debreu formalism, time may be incorporated into the model in a very simple way using dated commodities. Thus two commodities are considered as being different if they are to be delivered at different points of time.
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