Michael Dornbusch's Books

Macroeconomic Theory

A Dynamic General Equilibrium Approach

By: Michael Wickens

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Macroeconomic Theory

A Dynamic General Equilibrium Approach

By: Michael Wickens

Macroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This book truly offers something new by emphasizing the general equilibrium character of macroeconomics to explain effects across the whole economy, not just part. It is also the perfect resource for economists who need to brush up on the latest developments. Michael Wickens lays out the core ideas of modern macroeconomics and its links with finance. He presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy. Every important topic is covered, including growth, business cycles, fiscal policy, taxation and debt finance, current account sustainability, exchange-rate determination, and an up-to-date account of monetary policy through inflation targeting. Wickens addresses the interrelationships between macroeconomics and modern finance and shows how they affect stock, bond, and foreign-exchange markets. While the mathematics needed for this book is rigorous, the author describes fundamental concepts in a way that helps make the book self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory will become the standard text for students and is ideal for economists, particularly those in government, central and commercial banking, and financial investment. The most up-to-date macroeconomics textbook available today Web-based exercises with answers (June 2008) Emphasis on general equilibrium macroeconomics addresses the whole economy Latest advances in macroeconomics covered fully and completely Gives up-to-date account of monetary policy Covers modern finance Extensive mathematical appendix for at-a-glance easy reference

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496

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Princeton University Press

Published Date

ISBN 10

1400830230

ISBN 13

9781400830237

International Economic Growth

By: Michael Carlberg

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International Economic Growth

By: Michael Carlberg

This book deals with international growth, featuring the dynamics of foreign debt and domestic capital. It proves useful to consider the Solow model, the overlapping generations model and the infinite horizon model. Phase diagrams serve to trace out the processes of adjustment induced by various shocks. Take for instance an increase in the saving rate, a rise in the rate of labour growth, or a one-time technical progress. What will be the effects on the balance of payments, the foreign position, the stock of capital, and consumption? The first chapter is concerned with the small open economy, chapter II is on large countries. In chapter III capital mobility is restricted, in chapter IV labour mobility is introduced, in chapter V wages are fixed, and in chapter VI growth becomes endogenous.

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219

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Springer Science & Business Media

Published Date

ISBN 10

3642592562

ISBN 13

9783642592560

Private Sector Involvement and International Financial Crises

An Analytical Perspective

By: Michael Chui,Prasanna Gai

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Private Sector Involvement and International Financial Crises

An Analytical Perspective

By: Michael Chui,Prasanna Gai

Offering an analytical perspective on the design and reform of the international financial architecture, this book stresses the important role played by creditor co-ordination problems in the origin and management of crises by relating the insights of the new literature on global games to earlier work on currency crises, bank runs, and sovereign debt default. It examines the design of sovereign bankruptcy procedures, the role of the IMF in influencing creditors and debtor countries, and the currency composition of sovereign debt, and draws on recent research and policy work. The book's first part provides a critical synthesis of the literature underpinning the architecture debate. It reviews the traditional distinction between "fundamentals-based" and "sunspot-based" crises before reconciling the two using global game methods. The role of co-ordination problems in sparking costly liquidation and influencing the debtor's incentives to repay is then examined in depth and shown to lie at the heart of crisis management policy. The empirical literature on leading indicators of crisis is also critically examined and related to the architecture debate. In its second part the book examines key issues in crisis management. Suggesting that optimal reforms must set the inefficiencies of crisis against the inefficiencies of debtor moral hazard, the authors consider the relative merits of statutory and contractual solutions to sovereign debt workouts. They go on to discuss the role of the IMF in influencing private lending and debtor moral hazard, theoretically and empirically. They argue that there is no simple relationship between ex post crisis management and ex ante moral hazard, implying that the handling of financial crises is a delicate affair warranting a cautious approach by would-be architects.

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236

Publisher

OUP Oxford

Published Date

ISBN 10

0191533173

ISBN 13

9780191533174

African American Communication

Exploring Identity and Culture

By: Michael L. Hecht

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African American Communication

Exploring Identity and Culture

By: Michael L. Hecht

What communicative experiences are particular to African Americans? How do many African Americans define themselves culturally? How do they perceive intracultural and intercultural communication? These questions are answered in this second edition of African American Communication: Exploring Identity and Culture. Informing multiple audiences interested in African American culture, from cultural researchers and practitioners to educators, policymakers, and community leaders, this innovative and invaluable resource examines the richness and depth of African American communication norms an.

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329

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Routledge

Published Date

ISBN 10

1135642761

ISBN 13

9781135642761

Navigating Conflict

How Youth Handle Trouble in a High-Poverty School

By: Calvin Morrill,Michael Musheno

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Navigating Conflict

How Youth Handle Trouble in a High-Poverty School

By: Calvin Morrill,Michael Musheno

Urban schools are often associated with violence, chaos, and youth aggression. But is this reputation really the whole picture? In Navigating Conflict, Calvin Morrill and Michael Musheno challenge the violence-centered conventional wisdom of urban youth studies, revealing instead the social ingenuity with which teens informally and peacefully navigate strife-ridden peer trouble. Taking as their focus a multi-ethnic, high-poverty school in the American southwest, the authors complicate our vision of urban youth, along the way revealing the resilience of students in the face of carceral disciplinary tactics. Grounded in sixteen years of ethnographic fieldwork, Navigating Conflict draws on archival and institutional evidence to locate urban schools in more than a century of local, state, and national change. Morrill and Musheno make the case for schools that work, where negative externalities are buffered and policies are adapted to ever-evolving student populations. They argue that these kinds of schools require meaningful, inclusive student organizations for sustaining social trust and collective peer dignity alongside responsive administrative leadership. Further, students must be given the freedom to associate and move among their peers, all while in the vicinity of watchful, but not intrusive adults. Morrill and Musheno make a compelling case for these foundational conditions, arguing that only through them can schools enable a rich climate for learning, achievement, and social advancement.

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319

Publisher

University of Chicago Press

Published Date

ISBN 10

022652387X

ISBN 13

9780226523873

Reputation and International Cooperation

Sovereign Debt across Three Centuries

By: Michael Tomz

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Reputation and International Cooperation

Sovereign Debt across Three Centuries

By: Michael Tomz

How does cooperation emerge in a condition of international anarchy? Michael Tomz sheds new light on this fundamental question through a study of international debt across three centuries. Tomz develops a reputational theory of cooperation between sovereign governments and foreign investors. He explains how governments acquire reputations in the eyes of investors, and argues that concerns about reputation sustain international lending and repayment. Tomz's theory generates novel predictions about the dynamics of cooperation: how investors treat first-time borrowers, how access to credit evolves as debtors become more seasoned, and how countries ascend and descend the reputational ladder by acting contrary to investors' expectations. Tomz systematically tests his theory and the leading alternatives across three centuries of financial history. His remarkable data, gathered from archives in nine countries, cover all sovereign borrowers. He deftly combines statistical methods, case studies, and content analysis to scrutinize theories from as many angles as possible. Tomz finds strong support for his reputational theory while challenging prevailing views about sovereign debt. His pathbreaking study shows that, across the centuries, reputations have guided lending and repayment in consistent ways. Moreover, Tomz uncovers surprisingly little evidence of punitive enforcement strategies. Creditors have not compelled borrowers to repay by threatening military retaliation, imposing trade sanctions, or colluding to deprive defaulters of future loans. He concludes by highlighting the implications of his reputational logic for areas beyond sovereign debt, further advancing our understanding of the puzzle of cooperation under anarchy.

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324

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Princeton University Press

Published Date

ISBN 10

1400842921

ISBN 13

9781400842926

The Volatility Machine

Emerging Economics and the Threat of Financial Collapse

By: Michael Pettis

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The Volatility Machine

Emerging Economics and the Threat of Financial Collapse

By: Michael Pettis

This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture. Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years.

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266

Publisher

Oxford University Press

Published Date

ISBN 10

0195349482

ISBN 13

9780195349481

Introductory Economics

By: Michael Veseth

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Introductory Economics

By: Michael Veseth

Introductory Economics deals with the national economy as a whole—macroeconomics, in terms of inflation and unemployment. The book also discusses individual economic decision-makers—microeconomics, in view of the problems of scarcity and choice. Macroeconomics uses the market model of demand and supply as a tool to analyze the causes of, and present some cures for modern economic ailments. The text examines the economics of government fiscal policies with the framework of an aggregate demand and supply model. The book compares monetary policy and fiscal policy, explains the monetarist model of economic activity, and also investigates the roles of money, credit, interest rates. These economic activities have international consequences such as in trade, exchange rates, and on prevailing and future national economic policies. In microeconomics, the book focuses on the economics of exchange, the market mechanisms that increase the gains from trade, and the problems of choice facing consumers and producers in a competitive market. The text also tackles the problems found in resource markets (labor, natural resources, energy), in market failure, as well as analyzes the role of government. Economists, sociologists, students of economics or business, general readers interested in real-world economics, and policy makers involved in national economic development will find the book valuable.

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790

Publisher

Academic Press

Published Date

ISBN 10

1483263002

ISBN 13

9781483263007

Companion to Contemporary Economic Thought

By: Michael Bleaney,David Greenaway,Dr Ian Stewart,Ian Stewart

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Companion to Contemporary Economic Thought

By: Michael Bleaney,David Greenaway,Dr Ian Stewart,Ian Stewart

* 41 in-depth essays cover current economic theory and applied economics in a single, comprehensive volume * Interfaces section considers economics as it relates to other disciplines * Extensive notes, bibliographies and suggestions for further reading; detailed index of Topics and People `A treasure-house of stimulating argument and vast amounts of, mostly, well marshalled information. The market for general survey volumes, while already crowded, should surely find room for this offering.' - The World Economy `The work under review scores very high marks.' - The Economic Journal `The chapters are written by people who are excellently qualified and frequently well-known in their field ... The book's strengths lie in the range of contributors, the very high quality of most of the contributors and its emphasis on applied economics. For these reasons alone it is an important book, which will be invaluable both to students and to economists wishing to learn about developments in other branches of their discipline.' - Economica

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947

Publisher

Routledge

Published Date

ISBN 10

1134973381

ISBN 13

9781134973385

Monetary and Fiscal Dynamics

By: Michael Carlberg

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Monetary and Fiscal Dynamics

By: Michael Carlberg

The analysis will be conducted within an IS-LM model augmen- ted by the dynamics of money wages, private capital and public debt. A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a dynamic path of monetary and fiscal policy: As a response to the shock, the central bank continuouslyadapts the quantity of money so as to keep up full employment all the time. And the government continuously accommodates its purchases of goods and services. Can this be sustained? Or will public debt tend to explode, thereby driving the stock of capial down to zero?

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196

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Springer Science & Business Media

Published Date

ISBN 10

3642476899

ISBN 13

9783642476891

Crisis, Stabilization, and Economic Reform

Therapy by Consensus

By: Michael Bruno

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Crisis, Stabilization, and Economic Reform

Therapy by Consensus

By: Michael Bruno

This book authoritatively considers the phenomenon of the severe economic crises of the 1970s and 1980s, as exemplified by the combination of high inflation and negative growth in Israel and Latin America. The author analyses the common characteristics of such processes and their possible cures-with a detailed first-hand account of Israeli stabilization policy, and a comparative policy-oriented analysis of Latin American reforms. Professor Bruno also calls on his experience to give a preliminary evaluation of recent stabilizations and reform attempts in several East European economies. The discussion of the theoretical underpinnings of `shock' treatments provides a good example for the blending of a number of disciplines: lessons of economic history; open economy monetary and macro theory; game-theoretic applications to the theory of economic policy design (concepts such as dynamic inconsistency, government reputation, and credibility); and the rationalization of incomes policy. The Clarendon Lectures in Economics were established in 1987. They consist of coherent sets of three or four lectures given by distinguished economists which are accessible to advanced undergraduates and also of interest to academics. Subjects vary from high theory and applications of theory to policy-oriented topics. Lecturers include Professors J.-M. Grandmont, David Kreps, Kenneth Arrow, Angus Deaton, Robert Schiller, and Oliver Hart.

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321

Publisher

Oxford University Press

Published Date

ISBN 10

0198286635

ISBN 13

9780198286639

Family Mediation

Contemporary Issues

By: Howard H. Irving,Michael Benjamin

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Family Mediation

Contemporary Issues

By: Howard H. Irving,Michael Benjamin

Preface by Hugh McIsaac Family mediation has quickly become a significant means of legal dispute resolution, recognized in most North American jurisdictions as a relief to already overburdened judicial systems. Using an innovative practical approach, the authors of Family Mediation incorporate the pivotal principles of family therapy into this new context--the judicial realm of family mediation. The practice model--therapeutic family mediation--thoroughly treats history, specific issues, and practice in an ecosystemic approach and responds to feminist critique of mediation. In addition, the authors offer important perspectives on mediating with multicultural populations and the role of the mediator in child custody disputes and child protection cases. Through examination of family mediation research as well as helpful case history vignettes, the authors of this volume take action to fill significant gaps between family therapy and mediation. Family Mediation provides a new take on family mediation that will benefit not only professionals and researchers in family studies, social work, clinical psychology, and sociology but also professional and volunteer mediators, conciliation court personnel, and family law specialists. "Family Mediation is an excellent blend of scholarship and practice, and it is the best of the books I have read on family mediation. First, it is clear and well written. Second, it provides an in-depth, current review of the divorce literature. The literature on divorce is large, uneven, and difficult to interpret. The authors have done a service to the profession by skillfully reviewing and integrating this literature." --Stephen J. Bahr, Brigham Young University "This book is one of the most comprehensive and well-researched texts on mediation to date. The authors have compiled an immense array of information regarding the history of family mediation, the practice and knowledge base, a review of literature regarding divorce, the principles of mediation, gender and cultural issues, elements in a child custody dispute, sharing parenting, cultural issues, and the use of mediation in dependency, and they include an excellent summary of research conducted. . . . Of particular value is the enormous scope of the review of literature and the work of others, not only in Canada but also the United States, Australia, and Great Britain, underscoring the international nature of this transformation. What Howard H. Irving and Michael Benjamin have done is chart a major shift in the handling of conflict and they have done it very well." --Family and Conciliation Courts Review "Howard H. Irving and Michael Benjamin have surveyed and summarized an immense amount of material within the covers of this volume, presenting it in a clear, readable style. It is one of the rare texts on mediation that does justice to the complexity of families generally and families in North America particularly--to their diversity of culture, to the scope of feminist thought and gender differences, and to the ranges of social class. Their attention to divergent forms of mediation and differences in practice across jurisdictions is broadly sighted. An excellent choice for a text in mediation." --Mary A. Duryee, Family Court Services, Alameda County, Oakland, CA "Howard H. Irving and Michael Benjamin grapple with what is the most difficult event that confronts almost half of all modern families--divorce. Historically, the developmental issues and problems surrounding divorce have been solved in the courts. But modern-day courts are overwhelmed by an avalanche of divorce cases, more than a million a year, and are unable to meet the needs of separating parties. Family Mediation offers a fundamentally different approach from the conventional legal system. The empirical research and clinical experience Irving and Benjamin bring to bear on this subject have resulted in the seminal work in this area. This delightful and thoughtful book is a must for the modern mediation practitioner who works with families and children." --Duncan Lindsey, Professor, UCLA, and Editor-in-Chief, Children and Youth Services Review "This book is unique in providing a complete overview of relevant subject areas for family mediation under one cover. Its writing is timely because it dispels some of the myths in the rapidly expanding field of family mediation. . . . Family Mediation is a comprehensive text that follows the development of family mediation through the present and concludes with the predictors of future directions. It is perhaps the most thorough critical review of the literature pertaining to family mediation and develops an inclusive practical model of practice for practitioners. The book is readable . . . responsible, and of interest to family mediators and the family law lawyers who work closely with them. It may become a must as a background for the novice family mediator about to embark on a course of training." --Laurel Pearson, McWhinney, Metcalfe, and Associates, Toronto, Canada

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487

Publisher

SAGE Publications

Published Date

ISBN 10

1452247064

ISBN 13

9781452247069

Public Debt and Endogenous Growth

By: Michael Bräuninger

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Public Debt and Endogenous Growth

By: Michael Bräuninger

This book considers public debt dynamics in various endogenous growth mod els, namely the AK model and explicit models of innovation and human cap ital accumulation. Furthermore, the closed economy, the small open economy and a two-country world are analysed. In the closed economy model, the focus is on budget deficit and public debt dynamics and their influence on capital growth and output growth. Then, in the open economy model, the effects on foreign debt growth are considered. In a two-country setting, public debt growth in one country affects growth in the other country. In each scenario the government either fixes the deficit ratio or the tax rate. For both strategies the steady state is derived and stability is analysed. Then, dynamics induced by various shocks and policy measures are explored. Many diagrams illustrate the dynamics. I greatly benefited from comments by Michael Carlberg. In addition, Alkis Otto and Justus Haucap discussed with me many parts of the book. I wish to thank them all. Hamburg, February 2003 Michael Briiuninger Contents 1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . . . . . . . . . . . Part I The Closed Economy with AK Production 2 The Solow Model. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 . . . . . . . . . . 2. 1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2. 2 Fixing the Deficit Ratio. . . . . . . . . . . . . . . . . . . . . . . . . . 6 . . . . . . . . 2. 2. 1 The Model. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 . . . . . . . . . 2. 2. 2 Stability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 2. 2. 3 Some Shocks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 . . . . . . . . . 2. 2. 4 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 2. 3 Fixing the Tax Rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 . . . . . . . . . 2. 3. 1 The Model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 2. 3. 2 Stability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 2. 3. 3 Some Shocks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 . . . . . . . . . 2. 3. 4 Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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186

Publisher

Springer Science & Business Media

Published Date

ISBN 10

3642574203

ISBN 13

9783642574207

Chinese Economic History Since 1949

By: Michael Dillon

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Chinese Economic History Since 1949

By: Michael Dillon

China’s economic development has become a matter of world-wide interest since the boom that began in the 1980s. Key Papers in Chinese Economic History since 1949 offers a selection of outstanding articles that trace the origins of the modern Chinese economy. Topics covered include agriculture and the rural economy; industrialisation and urbanisation; finance and capital; political economy and international connections.

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1792

Publisher

BRILL

Published Date

ISBN 10

9004304983

ISBN 13

9789004304987

Exchange Rate Crises in Developing Countries

The Political Role of the Banking Sector

By: Michael G. Hall

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Exchange Rate Crises in Developing Countries

The Political Role of the Banking Sector

By: Michael G. Hall

According to many economists, the increasing mobility of capital across borders has made it more costly to peg exchange rates. This phenomenon has contributed to some of the more famous examples of exchange rate crises in recent times, such as the Mexican peso crisis in 1994 and the Asian financial crisis in 1997. Yet despite the increasing costs of pegging in today's accelerated financial markets, some developing countries try to maintain a peg for as long as they can. This work is the first to theorize the role of bankers as a domestic interest group involved in exchange rate policy. It adds to our understanding of how interest groups affect economic policy in developing countries and explains why some of the largest and fastest growing economies in the developing world were the most prone to crisis. The volume also refines our understanding of the 'hollowing-out thesis', the argument that increasing capital mobility is forcing states to abandon pegging.

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318

Publisher

Routledge

Published Date

ISBN 10

1351158422

ISBN 13

9781351158428

Inflation and the Making of Australian Macroeconomic Policy, 1945–85

By: Michael Beggs

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Inflation and the Making of Australian Macroeconomic Policy, 1945–85

By: Michael Beggs

In the decades after World War II, inflation undermined the aspiration for full employment in Australia. This book tells the story of how the Australian state was shaped by the confrontation with monetary instability: a pre-history of neoliberalism.

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539

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Springer

Published Date

ISBN 10

1137265973

ISBN 13

9781137265975

Mathematics for Economics, fourth edition

By: Michael Hoy,John Livernois,Chris Mckenna,Ray Rees,Thanasis Stengos

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Mathematics for Economics, fourth edition

By: Michael Hoy,John Livernois,Chris Mckenna,Ray Rees,Thanasis Stengos

An updated edition of a widely used textbook, offering a clear and comprehensive presentation of mathematics for undergraduate economics students. This text offers a clear and comprehensive presentation of the mathematics required to tackle problems in economic analyses, providing not only straightforward exposition of mathematical methods for economics students at the intermediate and advanced undergraduate levels but also a large collection of problem sets. This updated and expanded fourth edition contains numerous worked examples drawn from a range of important areas, including economic theory, environmental economics, financial economics, public economics, industrial organization, and the history of economic thought. These help students develop modeling skills by showing how the same basic mathematical methods can be applied to a variety of interesting and important issues. The five parts of the text cover fundamentals, calculus, linear algebra, optimization, and dynamics. The only prerequisite is high school algebra; the book presents all the mathematics needed for undergraduate economics. New to this edition are “Reader Assignments,” short questions designed to test students’ understanding before they move on to the next concept. The book’s website offers additional material, including more worked examples (as well as examples from the previous edition). Separate solutions manuals for students and instructors are also available.

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1103

Publisher

MIT Press

Published Date

ISBN 10

0262046628

ISBN 13

9780262046626

The Economics of Commercial Property Markets

By: Michael Ball,Colin Lizieri,Bryan MacGregor

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The Economics of Commercial Property Markets

By: Michael Ball,Colin Lizieri,Bryan MacGregor

This new text provides a rigorous analysis of real estate markets. Three main sections cover: microeconomics of property markets the macroeconomics of commercial property the financial economics of property Global empirical examples illustrate the theories and issues. This often complex area is made accessible: each chapter contains a boxed summary and questions for self-testing or discussion.

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416

Publisher

Routledge

Published Date

ISBN 10

1134749678

ISBN 13

9781134749676

Imperfect Knowledge Economics

Exchange Rates and Risk

By: Roman Frydman,Michael D. Goldberg

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Imperfect Knowledge Economics

Exchange Rates and Risk

By: Roman Frydman,Michael D. Goldberg

Posing a major challenge to economic orthodoxy, Imperfect Knowledge Economics asserts that exact models of purposeful human behavior are beyond the reach of economic analysis. Roman Frydman and Michael Goldberg argue that the longstanding empirical failures of conventional economic models stem from their futile efforts to make exact predictions about the consequences of rational, self-interested behavior. Such predictions, based on mechanistic models of human behavior, disregard the importance of individual creativity and unforeseeable sociopolitical change. Scientific though these explanations may appear, they usually fail to predict how markets behave. And, the authors contend, recent behavioral models of the market are no less mechanistic than their conventional counterparts: they aim to generate exact predictions of "irrational" human behavior. Frydman and Goldberg offer a long-overdue response to the shortcomings of conventional economic models. Drawing attention to the inherent limits of economists' knowledge, they introduce a new approach to economic analysis: Imperfect Knowledge Economics (IKE). IKE rejects exact quantitative predictions of individual decisions and market outcomes in favor of mathematical models that generate only qualitative predictions of economic change. Using the foreign exchange market as a testing ground for IKE, this book sheds new light on exchange-rate and risk-premium movements, which have confounded conventional models for decades. Offering a fresh way to think about markets and representing a potential turning point in economics, Imperfect Knowledge Economics will be essential reading for economists, policymakers, and professional investors.

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368

Publisher

Princeton University Press

Published Date

ISBN 10

0691261156

ISBN 13

9780691261157

Macroeconomics: A European Text

By: Michael Burda,Charles Wyplosz

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Macroeconomics: A European Text

By: Michael Burda,Charles Wyplosz

The clarity and accessibility of this text, together with the numerous examples and case studies featured, combine to make the learning of macroeconomics as simple as possible.

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596

Publisher

Oxford University Press, USA

Published Date

ISBN 10

0199608644

ISBN 13

9780199608645

The Limits Of Protectionism

Building Coalitions for Free Trade

By: Michael Lusztig

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The Limits Of Protectionism

Building Coalitions for Free Trade

By: Michael Lusztig

Conventional wisdom holds that free trade is economically beneficial to nations. But this does not prevent industries and interest groups from lobbying their governments for protection, which creates a fear of electoral backlash among politicians hoping to promote free trade. The Limits of Protectionism demonstrates how governments can attain those economic benefits while avoiding the political costs.Michael Lusztig's theoretical model focuses on a process by which protectionists can be pushed to restructure and compete in a global economy. In this process, a small cutback in domestic protection leads to lost market shares at home; producers must then turn to overseas exports, and, as the size of foreign profits grow, former protectionists become active advocates for more and greater free trade opportunities.In a wide-ranging array of case studies—from nineteenth-century Britain to Depression-era United States to contemporary New Zealand, Australia, Brazil, Canada, Chile, and Mexico—Lusztig reveals that, if skillfully handled, governments can eliminate the obstacles to free trade and enjoy continued economic growth without fear of protectionist groups seeking revenge at the ballot box.

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292

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University of Pittsburgh Pre

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ISBN 10

0822972565

ISBN 13

9780822972563

Child and Adolescent Development for Educators

By: Michael Pressley,Christine B. McCormick

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Child and Adolescent Development for Educators

By: Michael Pressley,Christine B. McCormick

Filling a tremendous need, this is the first graduate-level child development text written specifically for future educators. From eminent authorities, the volume provides a solid understanding of major theories of development, focusing on how each has informed research and practice in educational contexts. Topics include the impact of biology and early experiences on the developing mind; the development of academic competence and motivation; how learning is influenced by individual differences, sociocultural factors, peers, and the family environment; what educators need to know about child mental health; and more. Every chapter features a quick-reference outline, definitions of key terms, and boxes addressing special topics of interest to educators. Special feature: Instructors considering this book for course adoption will automatically be e-mailed a test bank (in RTF format) that includes objective test items, essay questions, and case questions based on classroom scenarios.

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514

Publisher

Guilford Press

Published Date

ISBN 10

1609180844

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9781609180843

Argentina's Economic Growth and Recovery

The Economy in a Time of Default

By: Michael Cohen

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Argentina's Economic Growth and Recovery

The Economy in a Time of Default

By: Michael Cohen

This book examines the causes of the economic and political crisis in Argentina in 2001 and the process of strong economic recovery. It poses the question of how a country which defaulted on its external loans and was widely criticized by international observers could have succeeded in its growth and development despite this decision in 2002. It examines this process in terms of the impact of neo-liberal policies on the economy and the role of development strategy and the state in recovering from the crisis

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360

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Routledge

Published Date

ISBN 10

1136503471

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9781136503474

Child Labor

A World History Companion

By: Sandy Hobbs,Jim McKechnie,Michael Lavalette

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Child Labor

A World History Companion

By: Sandy Hobbs,Jim McKechnie,Michael Lavalette

Consult this handy reference work when you need accurate, up to date information on subjects ranging from the effects of work on children's education to the use of child labor in Eastern Europe. From Dickensian exploitation of orphans to the after-school jobs of American students, child labor continues to generate controversy. Surveying working children from the Industrial Revolution to the present day, Child Labor takes the subject beyond the usual third world confines as it looks at traditional children's occupations, from chimney sweeps in Victorian Britain to child actors in TV commercials.

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308

Publisher

Bloomsbury Publishing USA

Published Date

ISBN 10

1576074617

ISBN 13

9781576074619

Barns

By: John Michael Vlach

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Barns

By: John Michael Vlach

A comprehensive and unique visual resource, Barns will be invaluable to students; teachers; researchers; historians of art, architecture, design, and technology; architects; engineers; designers of all kinds; and those who love barns."--BOOK JACKET.

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410

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W. W. Norton & Company

Published Date

ISBN 10

0393730867

ISBN 13

9780393730869

The International Transmission of Inflation

By: Michael R. Darby,James R. Lothian,Arthur E. Gandolfi,Anna J. Schwartz

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The International Transmission of Inflation

By: Michael R. Darby,James R. Lothian,Arthur E. Gandolfi,Anna J. Schwartz

Inflation became the dominant economic, social, and political problem of the industrialized West during the 1970s. This book is about how the inflation came to pass and what can be done about it. Certain to provoke controversy, it is a major source of new empirical information and theoretical conclusions concerning the causes of international inflation. The authors construct a consistent data base of information for eight countries and design a theoretically sound model to test and evaluate competing hypotheses incorporating the most recent theoretical developments. Additional chapters address an impressive variety of issues that complement and corroborate the core of the study. They answer such questions as these: Can countries conduct an independent monetary policy under fixed exchange rates? How closely tied are product prices across countries? How are disturbances transmitted across countries? The International Transmission of Inflation is an important contribution to international monetary economics in furnishing an invaluable empirical foundation for future investigation and discussion.

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744

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University of Chicago Press

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ISBN 10

0226136434

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9780226136431

Forgotten Continent: A History of the New Latin America

By: Michael Reid

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Forgotten Continent: A History of the New Latin America

By: Michael Reid

The bestselling primer on the social, political, and economic challenges facing Central and South America—now fully revised and updated. Ten years after its first publication, Michael Reid’s bestselling survey of the state of contemporary Latin America has been wholly updated to reflect the new realities of the “Forgotten Continent.” The former Americas editor for the Economist, Reid suggests that much of Central and South America, though less poor, less unequal, and better educated than before, faces harder economic times now that the commodities boom of the 2000s is over. His revised, in-depth account of the region reveals dynamic societies more concerned about corruption and climate change, the uncertainties of a Donald Trump-led United States, and a political cycle that, in many cases, is turning from left-wing populism to center-right governments. This essential new edition provides important insights into the sweeping changes that have occurred in Latin America in recent years and indicates priorities for the future. “[A] comprehensive and erudite assessment of the region . . . While the social and economic face of Latin America is becoming more attractive, political life remains ugly and, in some countries, is getting even uglier.”—The Washington Post “Excellent . . . a comprehensive primer on the history, politics, and culture of the hemisphere.”—Francis Fukuyama, New York Times bestselling author “Reid’s book offers something valuable to both specialists and the general reading public . . . He writes of Latin America with great empathy, intelligence, and insight.”—Hispanic American Historical Review

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320

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Yale University Press

Published Date

ISBN 10

0300231709

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9780300231700

Understanding Youth

Adolescent Development for Educators

By: Michael J. Nakkula,Eric Toshalis

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Understanding Youth

Adolescent Development for Educators

By: Michael J. Nakkula,Eric Toshalis

Adolescent development research and theory have tremendous potential to inform the work of high school teachers, counselors, and administrators. Understanding Youth bridges the gap between adolescent development theory and practice. Nakkula and Toshalis explore how factors such as social class, peer and adult relationships, gender norms, and the media help to shape adolescents’ sense of themselves and their future expectations and aspirations.

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313

Publisher

Harvard Education Press

Published Date

ISBN 10

161250051X

ISBN 13

9781612500515

Distressed US Industries in the Era of Globalization

By: Lall Ramrattan,Michael Szenberg

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Distressed US Industries in the Era of Globalization

By: Lall Ramrattan,Michael Szenberg

This book presents analyses of several distressed industries in the United States, including the steel, footwear, textile and apparel, paper and publishing, and automobile industries. In particular, it focuses on the influence of the new era of globalization on these industries. Their stories are about the changing structure, conduct, and performance of industrial United States.

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184

Publisher

Ashgate Publishing, Ltd.

Published Date

ISBN 10

075467052X

ISBN 13

9780754670520

Determinants of the Choice of Exchange Rate Regimes in Six Central American Countries

An Empirical Analysis

By: Mr.Michael G. Papaioannou

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Determinants of the Choice of Exchange Rate Regimes in Six Central American Countries

An Empirical Analysis

By: Mr.Michael G. Papaioannou

This paper examines whether decisions about the appropriate exchange rate regime in six Central American countries were based on longer-run economic fundamentals or on the confluence of historical and political circumstances. To uncover any actual relationship both across countries and across time, we estimate several probit and multinomial logit models of exchange rate regime choice with data spanning the period 1974-2001. We find that theoretical long-run determinants, such as trade openness, export share with the major trading partner, economic size, and per capita income, are adequate, but not robust, predictors of exchange rate regime choice. However, we were not able to establish a statistically significant association between the terms of trade fluctuations or capital account openness and a particular regime in any specification using our sample.

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International Monetary Fund

Published Date

ISBN 10

1451847963

ISBN 13

9781451847963

Sustainability and Policy

Limits to Economics

By: Michael S. Common

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Sustainability and Policy

Limits to Economics

By: Michael S. Common

Two of the greatest problems facing the human race today are poverty and the threat to the natural environment. Economic growth is routinely advocated as the solution to poverty, but the natural environment is already threatened by current levels of economic activity. This compelling book examines both economic and ecological approaches to this dilemma, and considers policy issues for industrial economies. It also includes a useful review of recent literature in the area. Michael Common argues that economists rarely address threats to sustainability. He suggests that, while economics cannot offer a blueprint for a sustainable society, the use of economic or price incentives can help achieve social goals and address threats to sustainability.This book is a balanced, constructive and original contribution in the rapidly emerging fields of environmental economics and policy.

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368

Publisher

Cambridge University Press

Published Date

ISBN 10

0521436052

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9780521436052

Economics and Development Studies

By: Michael Tribe,Frederick Nixson,Andy Sumner

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Economics and Development Studies

By: Michael Tribe,Frederick Nixson,Andy Sumner

Economics and Development Studies synthesises existing development economics literature, much of it very contemporary, in order to identify the salient issues and controversies and to make them accessible and understandable.

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311

Publisher

Routledge

Published Date

ISBN 10

1136938745

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9781136938740

Forgotten Continent: The Battle for Latin America's Soul

By: Michael Reid

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Forgotten Continent: The Battle for Latin America's Soul

By: Michael Reid

The bestselling primer on the social, political, and economic challenges facing Central and South America by The Economist editor and author of Brazil. Latin America has often been condemned to failure. Neither poor enough to evoke Africa’s moral crusade, nor as explosively booming as India and China, it has largely been overlooked by the West. Yet this vast continent, home to half a billion people, the world’s largest reserves of arable land, and 8.5 percent of global oil, is busily transforming its political and economic landscape. This book argues that rather than failing the test, Latin America’s efforts to build fairer and more prosperous societies make it one of the world’s most vigorous laboratories for capitalist democracy. In many countries—including Brazil, Chile and Mexico—democratic leaders are laying the foundations for faster economic growth and more inclusive politics, as well as tackling deep-rooted problems of poverty, inequality, and social injustice. They face a new challenge from Hugo Chávez’s oil-fueled populism, and much is at stake. Failure will increase the flow of drugs and illegal immigrants to the United States and Europe, jeopardize stability in a region rich in oil and other strategic commodities, and threaten some of the world’s most majestic natural environments. Drawing on Michael Reid’s many years of reporting from inside Latin America’s cities, presidential palaces, and shantytowns, the book provides a vivid, immediate, and informed account of a dynamic continent and its struggle to compete in a globalized world. “No one who seriously aspires to discuss Latin American politics, economics, and culture should go without reading Forgotten Continent.”—National Interest

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363

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Yale University Press

Published Date

ISBN 10

0300145268

ISBN 13

9780300145267

The Levelling

What's Next After Globalization

By: Michael O'Sullivan

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The Levelling

What's Next After Globalization

By: Michael O'Sullivan

A brilliant analysis of the transition in world economics, finance, and power as the era of globalization ends and gives way to new power centers and institutions. The world is at a turning point similar to the fall of communism. Then, many focused on the collapse itself, and failed to see that a bigger trend, globalization, was about to take hold. The benefits of globalization--through the freer flow of money, people, ideas, and trade--have been many. But rather than a world that is flat, what has emerged is one of jagged peaks and rough, deep valleys characterized by wealth inequality, indebtedness, political recession, and imbalances across the world's economies. These peaks and valleys are undergoing what Michael O'Sullivan calls "the levelling"--a major transition in world economics, finance, and power. What's next is a levelling-out of wealth between poor and rich countries, of power between nations and regions, of political accountability from elites to the people, and of institutional power away from central banks and defunct twentieth-century institutions such as the WTO and the IMF. O'Sullivan then moves to ways we can develop new, pragmatic solutions to such critical problems as political discontent, stunted economic growth, the productive functioning of finance, and political-economic structures that serve broader needs. The Levelling comes at a crucial time in the rise and fall of nations. It has special importance for the US as its place in the world undergoes radical change--the ebbing of influence, profound questions over its economic model, societal decay, and the turmoil of public life.

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363

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PublicAffairs

Published Date

ISBN 10

1541724089

ISBN 13

9781541724082

Concise Encyclopedia of Mexico

By: Michael Werner

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Concise Encyclopedia of Mexico

By: Michael Werner

Concise Encyclopedia of Mexico includes approximately 250 articles on the people and topics most relevant to students seeking information about Mexico. Although the Concise version is a unique single-volume source of information on the entire sweep of Mexican history-pre-colonial, colonial, and moderns-it will emphasize events that affecting Mexico today, event students most need to understand.

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Page Count

1024

Publisher

Routledge

Published Date

ISBN 10

1135973776

ISBN 13

9781135973773

Book's by Michael Dornbusch

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