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Economics, Finance and Econometrics

www.cambridge.org/economics 2003 Contents Highlights include…

General Economics 1 A World Without Walls Economic Thought, Philosophy Freedom, Development, Free Trade and Global and Methodology 1 Governance Mike Moore, Former Director-General of the World Econometrics 4 Trade Organization Themes in Modern Econometrics 7 Econometric Society Monographs 8 ‘Mike Moore makes a strong case for the benefits of Econometric Exercises 10 free trade and open markets. But he warns that global governance needs to be rethought to cope Mathematical Methods with the challenges of globalization. A wide ranging and Programming 11 and thought-provoking book.’ George Soros, Microeconomics 13 author of George Soros on Globalization Macroeconomics and Monetary ➤ See page 17 Economics 14 International Economics 17 Towards a New Paradigm in Monetary Financial Economics 21 Economics Public Economics and Political Joseph E. Stiglitz, Columbia University, New York Economy 22 and Bruce Greenwald, Columbia University, New Law and Economics 27 York Industrial Organization 28 Written out of the authors’ original thoughts and Management and Marketing 30 empirical observations while serving in some renowned economic organizations, the book Economic History 34 provides a pioneer treatment of critical topics in Economic Development monetary economics and insightful policy and Growth 37 implications. Economic Systems 40 Professor Joseph E. Stiglitz is the winner of Environmental and Natural the 2001 Nobel Prize for Economics. Resource Economics 41 ➤ See page 14 Climate Change 43 Regional Economics 44 Author and Title Index 45 Announcing a new series

Econometric Exercises Series Editors: Karim M. Abadir, Jan Magnus and Peter C.B. Phillips Overview The volumes of solved exercises in the series are designed both for classroom teaching in econometrics and offer an independent, learning-by-doing program for anyone wanting to learn more about econometric methods and applications. ➤ For further information see page 10

Cambridge University Press is the printing and publishing house of the University of Cambridge, and is the oldest press in the world. It is a charitable enterprise required by University Statute to devote itself to printing and publishing in the furtherance of the acquisition, advancement, conservation, and dissemination of knowledge in all subjects; to the advancement of education, religion, learning, and research; and to the advancement of literature and good letters.

Who to contact www.cambridge.org/economics Book proposals: Chris Harrison ([email protected]) This catalogue contains a selection of our most recent publishing in this area. Please visit our website for a full and searchable listing of all our titles in print and also an extensive range of For further information about economics titles: news, features and resources. Our online ordering service is secure and easy to use. Maria Angelaki ([email protected]) All other enquiries, phone +44 (0) 1223 312393 or email [email protected] Many of our journal titles are now available online. Each journal entry Prices and Payment in this catalogue indicates where the price includes, or will include, Prices and publication dates are correct at the time of access to the electronic version of the journal during 2003. Full text is going to press but are subject to alteration without available FREE to all individuals within the registered domain address notice. of full rate subscribers. In addition, the service provides all users with FREE access to tables of contents and abstracts, and a FREE email alerting service. General Economics 1

General Economics ‘In Machine Dreams the most exciting Journal historian of economic thought of our Abstracts of Working Papers in How to Argue with an Economist time takes on one of the most Economics fascinating themes of the intellectual Reopening Political Debate in Australia The Official Journal of the AWPE Database history of the twentieth century – the Lindy Edwards Editor: Halbert White dream of creating machines that can Australian National University, Canberra University of California, San Diego think and how this has affected the This fascinating book reflects on how social sciences. The result is an AWPE is the best point of access for economics has become central to our lives, extraordinary book that deserves to be thousands of working papers in all areas of and how the ‘economic rationalist’ read by everyone interested in the social economics, finance and econometrics. perspective has become the lens through sciences.’ From its network of over 70 research which all matters in Australian public life Richard Swedberg, centres worldwide, AWPE provides full are viewed. It explains how this economic University of Stockholm bibliographic information including series world view systematically overlooks addresses, price and availability, plus JEL important social issues and how it 2002 228 x 152 mm 670pp 5 line diagrams classification codes and complete abstracts 3 tables for these very current and often hard-to-get transforms Australian culture. How to Argue 0 521 77283 4 Hardback £70.00 with an Economist invites a broad general 0 521 77526 4 Paperback £24.95 working papers. Each issue includes about audience into debates that were once 550 of the latest papers, all indexed by reserved for experts. Lindy Edwards, a Textbook author, issuing institution, and enhanced former economic adviser in the Prime Economic Concepts for the Social by a keyword index and a permuted title Minister’s Department, has a talent for Sciences index. Subscriptions expressing concepts simply. She distils Todd Sandler economics’ key ideas into a lively and Volume 20 in 2003: February, April, University of Southern California June, August, October and December enjoyable read, explaining how economists This book presents an overview and Institutions print only: £260/$408 think and then how you can argue with Individuals print only: £93/$145 them. assessment of the conceptual advances in Print ISSN 0951-0079 economics during the last century. The ‘Refreshingly readable, original in book relies heavily on engaging examples, approach, this book should be intended to draw in the reader and to Economic Thought, consumed by every political actor or demonstrate the far-reaching application of student of politics or economics.’ economic reasoning to social phenomena. Philosophy and Diane Carlyle and Nick Walker, Contents: 1. Economics without apology; Methodology The Australian 2. Back to the future; 3. In another’s shoes: games, strategies, and economics; 4. It 2002 215 x 137 mm 180pp Textbook 0 521 81903 2 Hardback £40.00 takes two or more: public economics and 0 521 52532 2 Paperback £14.95 collective action; 5. Government for the A Theory of Economic Growth politician? Public and social choice; Dynamics and Policy in Overlapping Machine Dreams 6. Institutions matter: the new institutional Generations Economics Becomes a Cyborg Science economics; 7. Knowledge is power: the David de la Croix Philip Mirowski new institutional economics; 8. Everything Université Catholique de Louvain, Belgium University of Notre Dame, Indiana ties together: general equilibrium; and Philippe Michel 9. Laboratory economics: of rats and men; GREQAM, Université de la Méditerranée 10. Before yesterday and beyond tomorrow: intergenerational economics; 11. Fish, space, and spaceship earth: bioeconomics and interdisciplinary economics; 12. Crystal ball economics: rational expectations; 13. How do we get there from here?: transitional economies and policy reforms; 14. Economic growth: endogeneity, institutions and other concepts; 15. Economic visions for future horizons. 2001 228 x 152 mm 300pp 14 line diagrams 1 table 0 521 79262 2 Hardback £45.00 0 521 79677 6 Paperback £15.95

Machine Dreams recounts the story of how the computer came to transform the very This book provides an in-depth content of American economics, and how treatment of the overlapping generations the mathematician John von Neumann model in economics incorporating inadvertently became the most important production. Methodological emphasis is thinker for the economics profession in the put on using general preferences and 20th century. technologies, on the global study of

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dynamic aspects of the model, and on 5. Credible worlds: the status of theoretical 11. Evolutionary concepts in relation to furnishing adequate tools to analyze models in economics; 6. Models, stories evolutionary economics J. S. Metcalfe; policies involving inter-generational and the economic world; 7. The limits of 12. Path-dependance in institutional transfers. causal order, from economics to physics; change U. Witt; 13. Perspectives on 8. Econometrics and reality; 9. Economic technological evolution R. R. Nelson; ‘A comprehensive, up-to-date primer on models and reality: the role of informal 14. Complex dynamics in economic the dynamics of growth theory and scientific methods; 10. Truth, likeness and organisms P. Chen; 15. Evolutionary fiscal policy, written by two recognized economic theories; Part IV. The theorizing on economic growth G. experts in the field. For graduate Constitution of Economic Reality: Silverberg and B. Verspagen. students, researchers and policy-makers, 11. Rational choice, functional selection 2003 228 x 152 mm 400pp and empty black boxes; 12. The reality of 0 521 62199 2 Hardback c. £50.00 this book illustrates how to harness solid Publication May 2003 economic theory in the service of common cultures; 13. Collective cutting-edge debates about education, acceptance and collective attitudes: on the New Textbook social security reform, and public debt social construction of social reality; Economics and the Theory of management.’ 14. Putting evidence in its place: John Games Costas Azariadis, University of Mill’s early struggles with ‘facts in Fernando Vega-Redondo California, Los Angeles concrete’; 15. Hayek and cultural evolution; Part V. The Institutions of This textbook offers a systematic, self- 2002 228 x 152 mm 396pp 85 line diagrams Economics: 16. You shouldn’t want a 10 tables contained account of the main 0 521 80642 9 Hardback £55.00 realism if you have a rhetoric; 17. The contributions of modern game theory 0 521 00115 3 Paperback £20.95 more things change, the more they stay the and its applications to economics. same: social realism in contemporary Starting with a detailed description of Computation and Complexity in science studies; 18. Economists: truth- how to model strategic situations, the Economic Behavior and seekers or rent-seekers. discussion proceeds by studying basic 2002 228 x 152 mm 395pp 8 line diagrams solution concepts, their main Organization 8 graphs refinements, games played under Kenneth R. Mount 0 521 81117 1 Hardback £50.00 0 521 00957 X Paperback £19.95 incomplete information, and repeated Northwestern University, Illinois Publication December 2002 games. For each of these theoretical and Stanley Reiter developments, there is a companion set Northwestern University, Illinois Forthcoming of applications that cover the most This book presents a model of computing The Evolutionary Foundations of representative instances of game- and a measure of computational Economics theoretic analysis in economics, e.g. complexity which are intended to facilitate Edited by Kurt Dopfer oligopolistic competition, public goods, analysis of computations performed by Universität St Gallen, Switzerland coordination failures, bargaining, people, machines, or a mixed system of Evolutionary economics is attracting insurance markets, implementation people and machines. The model is increasing interest as a way of theory, signaling and auctions. The designed to apply directly to models of understanding the processes which generate theory and applications covered in the economic theory without requiring analysis particular forms of economic activities and first part of the book fall under the so- of approximations. structures. This collection brings together called “classical” approach to game 2002 228 x 152 mm 248pp 51 line diagrams economists who are at the forefront of this theory, which is founded on the 7 tables paradigm of players’ unlimited 0 521 80056 0 Hardback £45.00 new field of enquiry to provide the most comprehensive and most authoritative rationality. The second part shifts New survey available. towards topics that no longer abide by that paradigm. This leads to the study Fact and Fiction in Economics Contents: Introduction. Part I. Models, Realism and Social Construction of important topics such as the interplay Interdisciplinary Platform: 1. The between evolution and rationality, the Edited by Uskali Mäki rediscovery of value and the opening of Erasmus Universiteit Rotterdam behavioral dynamics induced by social economics I. Prigogine; 2. Synergetics: learning, and how players might tackle Bringing together some of the leading From physics to economics H. Haken; the problem of multiple equilibria. figures in the methodology and philosophy 3. Economics and the science of of economics, this collection provides a evolutionary complex systems P. A llen; Contents: 1. Theoretical Framework: thoughtful and balanced overview of the 4. Decomposition and growth: Biological 1.1 Introduction and examples; 1.2 The current state of debate about the nature metaphors in economics from the 1880s to representation of a game in extensive and limits of economic knowledge. the 1980s G. M .Hodgson; 5. Is there a form; 1.3 The representation of a game Representing the most current thinking on theory of economic history? J. Mokyr; in strategic form; 1.4 The mixed a topic of enduring interest to economists 6. Path dependence in economic processes: extension of a game; 1.5 Mixed and and philosophers and other social scientists, Implications for policy analysis in behavioral strategies; 1.6 Representation the book is notable for the extent to which dynamical systems contexts P. A. David; in coalition form; Summary; Exercises; authors from opposing schools of thought Part II. Connecting Evolutionary 2. Strategic-form analysis: theory: engage seriously with their opponents. Principles: 7. Toward an evolutionary 2.1 Dominance and iterative dominance; 2.2 Nash equilibrium; Contents: Part I. Introduction: 1. The theory of production S. G. Winter; 8. Learning in evolutionary environments 2.3 Zero-sum bilateral games; 2.4 Nash dismal queen of the social sciences; Part II. equilibrium: formal existence results; Setting the Scene: 2. Ugly currents in G. Dosi, L. Marengo and G. Fagiolo; 9. Darwinism, altruism and economics 2.5 Strong and coalition-proof modern economics; 3. Modern economics equilibrium; 2.6 Correlated equilibrium; and its critics; 4. Some non-reasons for H. A. Simon; 10. The self-organizational perspective on economic processes: A 2.7 Rationalizability; Summary; non-realism about economics; Part III. Exercises; 3. Strategic-form analysis: Economic Theory and Economic Reality: unifying paradigm J. Foster; Economic Thought, Philosophy and Methodology 3 applications: 3.1 Oligopoly (I): static expectations and foresight; Summary; Causality in Macroeconomics models; 3.2 Mechanism design (I): Exercises; 12. Social learning and Kevin D. Hoover efficient allocation of public goods; equilibrium selection; University of California, Davis 3.3 Mechanism design (II): Nash 12.1 Introduction; 12.2 Evolutionary Causality in Macroeconomics examines implementation; 3.4 Markets games: theoretical framework; causality while taking macroeconomics (I): macroeconomic coordination 12.3 Evolutionary games: alternative seriously. A pragmatic and realistic failures; Summary; Exercises; scenarios; 12.4 Stochastic stability and philosophy is joined to a macroeconomic 4. Refinements of Nash equilibrium: equilibrium selection; foundation that refines Herbert Simon’s theory: 4.1 Introduction; 12.5 Experimental evidence; well-known work on causal order to make 4.2 Refinements excluding ‘incredible 12.6 Perturbed Markov processes: basic a case for a structural approach to causality. threats’: examples; 4.3 Subgame-perfect concepts and techniques; The structural approach is used to equilibrium; 4.4 Weak-perfect Bayesian 12.7 Reinforcement learning with understand modern rational expectations equilibrium; 4.5 Refinements excluding flexible aspirations; Summary; Exercises. models, regime switching models, Granger ‘untenable beliefs’: examples; 2003 253 x 177 mm 675pp 84 line diagrams causality, vector autoregressions, the Lucas 4.6 Sequential equilibrium; 4.7 Perfect 55 tables 227 exercises 0 521 77251 6 Hardback c. £80.00 critique, and concept exogeneity. and proper equilibria; 4.8 Strategic-form 0 521 77590 6 Paperback c. £29.95 2001 228 x 152 mm 326pp 69 line diagrams refinements; Summary; Exercises; Publication August 2003 15 tables 5. Refinements of Nash Equilibrium: 0 521 45217 1 Hardback £47.50 applications; 5.1 Oligopoly Forthcoming 0 521 00288 5 Paperback £17.95 (II): sequential moves; 5.2 Markets The Monetary Theory of Journal (II): decentralized price formation; Production Economics and Philosophy 5.3 Oligopoly (III): differentiated Augusto Graziani products; 5.4 Mechanism design (III): Università degli Studi di Roma ‘La Sapienza’ Editors: Geoffrey Brennan efficient allocation of an indivisible Australian National University In mainstream economic theory money object; Summary, Exercises; Marc Fleurbaey functions as an instrument for the 6. Incomplete information: theory: Université de Pau circulation of commodities rather than as 6.1 Introduction and examples; and Luc Bovens fundamental to the production of goods or 6.2 Bayesian games; 6.3 Bayes-Nash University of Colorado at Boulder the distribution of income. Augusto equilibrium; 6.4 Signalling games; Graziani challenges traditional theories of The disciplines of economics and 6.5 Mixed strategies, revisited: a monetary production, arguing that a philosophy each possess their own special purification approach; 6.6 Forward modern economy based on credit cannot analytical methods, whose combination is induction; Summary; Exercises; be understood without a focus on the powerful and fruitful. Each discipline can 7. Incomplete information: applications: administration of credit flow. He argues be enriched by the other. Economics and 7.1 Markets (III): signalling in the labor that market asset configuration depends Philosophy aims to promote their mutual market; 7.2 Markets (IV): insurance not upon consumer preferences and enrichment by publishing articles and book markets and adverse selection; available technologies but on how money reviews in all areas linking these subjects. 7.3 Mechanism design (IV): one-sided and credit are managed. A strong exponent Topics include the methodology and auctions; 7.4 Mechanism design of the circulation theory of monetary epistemology of economics, the (V): buyer-seller trade; Summary; production, Graziani presents an original foundations of decision theory and game Exercises; 8. Repeated interaction: and perhaps controversial argument which theory, the nature of rational choice, ethical theory: 8.1 Introduction and examples; will stimulate debate on the topic. issues in economics, the use of economic 8.2 Repeated games: basic theoretical techniques in ethical theory, and many Federico Caffe Lectures framework; 8.3 Folk theorems: Nash other subjects. equilibrium; 8.4 Reputation and 2003 216 x 138 mm 160pp 0 521 81211 9 Hardback c. £37.50 Subscriptions ‘irrationality’: informal discussion; Publication September 2003 Volume 19 in 2003: April and October 8.5 Folk theorems: subgame=perfect Institutions print and electronic: £78/$122 equilibrium; 8.6 Reputation and Decisions and Elections Institutions electronic only: £70/$110 ‘irrationality’: formal analysis; Summary; Explaining the Unexpected Individuals print only: £30/$46 Exercises; 9. Repeated interaction: Donald G. Saari Print ISSN 0266-2671 applications: 9.1 Oligopoly University of California, Irvine Electronic ISSN 1474-0028 (IV): intertemporal collusion in a This highly accessible book offers Cournot scenario; 9.2 Oligopoly undergraduates, graduates and professionals (V): intertemporal collusion in a a new, different interpretation and Bertrand scenario; 9.3 Markets resolution of Arrow’s and Sen’s theorems. (V): efficiency wages and Using simple mathematics, it shows that unemployment; Summary; Exercises; these negative conclusions arise because, in 10. Evolutionary foundations of each case, some of their assumptions negate equilibrium: 10.1 Introduction; other crucial assumptions. 10.2 Static analysis; 10.3 Basic dynamic 2001 228 x 152 mm 254pp 16 line diagrams analysis; 10.4 Evolution in social 0 521 80816 2 Hardback £45.00 environments; 10.5 The evolution of 0 521 00404 7 Paperback £15.95 cooperation: an example; Summary; Exercises; 11. Learning to play: 11.1 Introduction; 11.2 Reinforcement learning; 11.3 Static perceptions and Nash equilibrium; 11.4 Memory,

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2003 228 x 152 mm 344pp Econometrics Textbook 0 521 66663 5 Paperback £20.95 Simplicity, Inference and Publication February 2003 Textbook Modelling New Textbook Keeping it Sophisticatedly Simple Introductory Econometrics for Discrete Choice Methods with Finance Edited by Arnold Zellner University of Chicago Simulation Chris Brooks Hugo A. Keuzenkamp Kenneth E. Train University of Reading Universiteit van Amsterdam University of California, Berkeley and NERA Inc. and Michael McAleer This book describes the new generation of Murdoch University, Western Australia discrete choice methods, focusing on the The idea that simplicity matters in science many advances that are made possible by is as old as science itself, with the much simulation. Researchers use these statistical cited example of Ockham’s Razor, ‘entia methods to examine the choices that non sunt multiplicanda praeter consumers, households, firms, and other necessitatem’: entities are not to be agents make. Each of the major models is multiplied beyond necessity. Using a covered: logit, generalized extreme value, or multidisciplinary perspective this GEV (including nested and cross-nested monograph asks ‘What is meant by logits), probit, and mixed logit, plus a simplicity’? variety of specifications that build on these 2002 228 x 152 mm 312pp 11 tables 16 figures basics. Simulation-assisted estimation 0 521 80361 6 Hardback £50.00 procedures are investigated and compared, including maximum simulated likelihood, New in Paperback method of simulated moments, and Textbook method of simulated scores. Procedures for Stochastic Frontier Analysis drawing from densities are described, including variance reduction techniques An introductory econometrics book for Subal C. Kumbhakar such as anithetics and Halton draws. finance students. The approach adopted University of Texas, Austin Recent advances in Bayesian procedures are is data and problem driven, giving and C. A. Knox Lovell explored, including the use of the students the skills to estimate and University of Georgia Metropolis-Hastings algorithm and its interpret models, while having an This book develops econometric variant Gibbs sampling. No other book intuitive grasp of the underlying techniques for the estimation of incorporates all these fields, which have theoretical concepts. The book assumes production, cost and profit frontiers, and arisen in the past 20 years. The procedures no prior knowledge of econometrics, for the estimation of the technical and are applicable in many fields, including and covers important modern topics. economic efficiency with which producers energy, transportation, environmental Contents: 1. Introduction; approach these frontiers. Since these studies, health, labor, and marketing. 2. Econometric packages for modelling frontiers envelop rather than intersect data, Contents: 1. Introduction: Part I. financial data; 3. A brief overview of the and since the authors to maintain the Behavioral Models: 2. Properties; 3. Logit; classical linear regression model; traditional belief in the presence of external 4. GEV; 5. Probit; 6. Mixed logit; 4. Further issues with the classical linear forces contributing to random statistical 7. Variations on a theme; Part II. regression model; 5. Univariate time noise, the work is titled Stochastic Frontier Esitmation: 8. Numerical maximization; series modelling and forecasting; Analysis. 9. Drawing from densities; 10. Simulation- 6. Multivariate modelling; 7. Modelling assisted estimation; 11. Individual-level long-run relationships in finance; ‘Stochastic Frontier Analysis is an excellent, up-to-date and complete parameters; 12. Bayesian procedures. 8. Modelling volatility and correlation; 2003 228 x 152 mm 344pp 44 line diagrams 9. Modelling regime shifts; summary of both the theory and 13 tables 10. Simulation methods; techniques used in frontier production, 0 521 81696 3 Hardback £65.00 11. Conducting empirical research in cost and profit analysis. The authors are 0 521 01715 7 Paperback £22.95 Publication January 2003 finance; 12. Conclusions: recent and two of the leading researchers in the future developments in the modelling of field. Students and practitioners in this Forthcoming financial time series; References; area will find this book to be the only reference source they need.’ Logit Models Appendix. Review of matrix algebra, From Economics and Other Fields calculus, and probability theory; William H. Greene, Stern School of Business, New York University J. S. Cramer Statistical tables. Universiteit van Amsterdam Visit www.cambridge.org/resources/ Contents: 1. Introduction; 2. Analytical The Logit model has its origins in economics foundations; 3. The estimation of technical economics but is now used in a variety of 2002 247 x 174 mm 728pp 57 tables 67 figures efficiency; 4. The estimation and disciplines, including medicine, 0 521 79018 2 Hardback £80.00 decomposition of cost efficiency; 5. The epidemiology and the social sciences. In 0 521 79367 X Paperback £29.95 estimation and decomposition of profit this book, Dr Cramer has given an efficiency; 6. The shadow price approach to accessible treatment of the theoretical the estimation and decomposition of foundations of the model as well as its economic efficiency; 7. Incorporating application to concrete problems. It is exogenous influences on efficiency; 8. The written to interest not only economists but estimation of efficiency change and to anyone working in a disciplines where it productivity change. Econometrics 5 is necessary to model qualitative random demonstrates recently implemented 2003 228 x 152 mm 400pp variables. To aid students, the author has approaches and methods in statistical 0 521 81407 3 Hardback c. £50.00 Publication November 2003 provided data sets on which to practise analysis. The authors introduce elementary Logit analysis. concepts in statistics through examples of New Textbook Visit http://publishing.cambride.org/ real-world data analysis drawn from the A Concise Introduction to resources/0521815886 authors’ experience, both as teachers and as Econometrics consultants. R code and data sets for all 2003 228 x 152 mm 160pp 40 line diagrams An Intuitive Guide 0 521 81588 6 Hardback c. £37.50 examples are available on the Internet. This Philip Hans Franses Publication June 2003 emphasis on practical methodology Erasmus Universiteit Rotterdam Forthcoming combined with a tutorial approach makes the book accessible to anyone with a Semiparametric Regression knowledge of undergraduate-level statistics, D. Ruppert whether a research student or a practising Cornell University, New York scientist or statistician. The methods M. P. Wand demonstrated are suitable for use in a wide Harvard University, Massachusetts variety of disciplines, from social sciences and R. J. Carroll to medicine, engineering and science. Texas A & M University Cambridge Series in Statistical and Semiparametric regression is concerned Probabilistic Mathematics, 10 with the flexible incorporation of non- 2003 253 x 177 mm 400pp 26 tables 79 exercises linear functional relationships in regression 52 figures 0 521 81336 0 Hardback c. £40.00 analyses. Any application area that benefits Publication June 2003 from regression analysis can also benefit from semiparametric regression. Assuming Forthcoming only a basic familiarity with ordinary The Structural Econometric Time parametric regression, this user-friendly Series Analysis Approach book explains the techniques and benefits In this short and very practical Edited by Arnold Zellner introduction to econometrics Philip Hans of semiparametric regression in a concise University of Chicago and modular fashion. The authors make Franses guides the reader through the and Franz Palm essential concepts of econometrics. Central liberal use of graphics and examples plus Universiteit Maastricht, Netherlands case studies taken from environmental, to the book are practical questions in financial, and other applications. They The theory and applications of the various economic disciplines, which can be include practical advice on implementation Structural Econometric Time Series answered using econometric methods and and pointers to relevant software. The book Analysis (SEMTSA) approach are models. The book focuses on a limited is suitable as a textbook for students with presented. Analytical relations between number of the essential, most widely used little background in regression as well as a dynamic econometric structural models methods, before going on to review the reference book for statistically oriented and empirical time series MVARMA, VAR, basics of econometrics. The book ends with scientists such as biostatisticians, transfer function, and univariate ARIMA a number of case studies drawn from recent econometricians, quantitative social models are established that are very useful empirical work to provide an intuitive scientists, epidemiologists, with a good for model-checking and model illustration of what econometricians do working knowledge of regression and the construction. The theory and applications when faced with practical questions. desire to begin using more flexible of these procedures to a variety of Throughout the book Franses emphasises semiparametric models. Even experts on econometric modeling and forecasting the importance of specification, evaluation semiparametric regression should find problems as well as Bayesian and non- and implementation of models appropriate something new here. Bayesian testing, shrinkage estimation and to the data. Assuming basic familiarity only forecasting procedures are presented and with matrix algebra and calculus the book Cambridge Series in Statistical and Probabilistic Mathematics, 12 applied. Optimal turning point forecasting is designed to appeal as either a short 2003 253 x 177 mm 400pp 80 line diagrams techniques are described and applied to stand-alone introduction for students 2 colour plates forecast turning points of output growth embarking on an empirical research project 0 521 78050 0 Hardback c. £65.00 rates of 18 industrialized countries. Also, or as a supplement to any standard 0 521 78516 2 Paperback c. £21.95 formal Bayesian procedures for combining introductory textbook. Publication November 2003 forecasts of alternative models, say fixed Contents: 1. Introduction; 2. A few basic Forthcoming parameter and time varying parameter tools; 3. Econometrics, a guided tour; Data Analysis and Graphics models are presented, applied and 4. Seven case studies; 5. Conclusion; Using R compared to non-Bayesian combining 6. References; 7. Bibliography. procedures. Finally, attention is focused on 2002 216 x 138 mm 129pp 5 line diagrams John Maindonald the effects of disaggregation on forecasting 5 tables Australian National University, Canberra precision. Several applied studies reveal 0 521 81769 2 Hardback £37.50 and John Braun that, ‘It pays to disaggregate when 0 521 52090 8 Paperback £13.95 University of Western Ontario forecasting a total, say total output of an Modern statistical software systems provide economy.’ Further, the new Marshallian sophisticated tools for researchers who need Macroeconomic Model (MMM) that to manipulate and display their data. Using features demand, supply and entry such systems requires training both in the equations for major sectors of economies is software itself and in the statistical methods described and used to produce Improved that it relies on. Concentrating on the forecasts of rates of growth of total GDP freely available R system, this book for the US economy.

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Textbook problems that arise in analyzing panel linear semiparametric regression model: data. The blend of theory, data and inference; Part III. Extremum Estimators Non-Linear Time Series Models in and Nonlinear and Nonnormal Regression Empirical Finance econometrics is superb. This is a masterful work.’ Models: 7. Extremum estimation and Philip Hans Franses James Heckman, inference; 8. The nonlinear semiparametric Erasmus Universiteit Rotterdam Nobel Laureate, University of Chicago regression model: estimation and inference; and Dick van Dijk 9. Nonlinear and nonnormal parametric Erasmus Universiteit Rotterdam 2002 228 x 152 mm 382pp 111 line diagrams regression models; Part IV. Avoiding the 28 tables Parametric Likelihood: 10. Stochastic Reviews recently developed non-linear time 0 521 81534 7 Hardback £60.00 series models, and their applications to regressors and moment-based estimation; financial markets. Matrix Calculus and Zero-One 11. Quasi-maximum likelihood and Contents: 1. Introduction; 2. Some Matrices estimating equations; 12. Empirical likelihood estimation and inference; concepts in Time Series analysis; Statistical and Econometric Applications 13. Information theoretic-entropy 3. Regime-switching models for returns; Darrell A. Turkington approaches to estimation and inference; 4. Regime-Switching models for Volatility; University of Western Australia Part V. Generalized Regression Models: 5. Artificial neural networks for returns; This book presents the reader with 6. Conclusion. 14. Regression models with a known mathematical tools drawn from matrix general noise covariance matrix; 2000 247 x 174 mm 296pp 51 tables 44 figures calculus and zero-one matrices and 0 521 77041 6 Hardback £60.00 15. Regression models with an unknown 0 521 77965 0 Paperback £22.95 demonstrates how the use of their tools general noise covariance matrix; Part VI. facilitates such applications in a sequence Simultaneous Equation Probability Models New of linear econometric models of increasing and General Moment-Based Estimation Essays in Panel Data Econometrics statistical complexity. and Inference: 16. Generalized moment- 2002 228 x 152 mm 218pp 8 tables based estimation and inference; Marc Nerlove 0 521 80788 3 Hardback £45.00 University of Maryland, College Park 17. Simultaneous equations econometric Textbook models: estimation and inference; Part VII. Econometric Foundations Model Discovery: 18. Model discovery: the problem of variable selection and Ron C. Mittelhammer conditioning; 19. Model discovery: the Washington State University problem of noise covariance matrix George G. Judge specification; Part VIII. Special University of California, Berkeley Econometric Topics: 20. Qualitative- and Douglas J. Miller censored response models; 21. Introduction Purdue University, Indiana to nonparametric density and regression This course provides a complete working analysis; Part XI. Bayesian Estimation and knowledge of a rich set of estimation and Inference: 22. Bayesian estimation: general inference tools, including traditional principles with a regression focus; likelihood based and non-traditional non- 23. Alternative Bayes formulations for the likelihood based procedures, that can be regression model; 24. Bayesian inference; used in conjunction with the computer to Part X. Epilogue; Appendix: introduction address economic problems. The to computer simulation and resampling accompanying CD-ROM offers further methods. This volume collects seven of Marc reading, manuals, software, and solutions. 2000 228 x 152 mm 784pp 5 line diagrams Nerlove’s previously published essays on An electronic tutorial is available 32 tables 0 521 62394 4 Pack with CD-ROM £45.00 panel data econometrics, with a new essay separately. on the history of the subject, which began ‘The authors of Econometric Textbook with George Biddell Airey’s monograph in Foundations are to be congratulated for Probability Theory and Statistical 1861. The essays illustrate the role of their comprehensive and clear Inference shaping appropriate methods of inference presentation of old and new Econometric Modeling with Observational and the importance of computer-intensive econometric methods along with many Data methods. interesting and relevant applications. Aris Spanos Advance praise: This fine blend of theory and University of Cyprus application makes this text particularly ‘Marc Nerlove, more than any other Contents: Preface: 1. An introduction to useful and appealing.’ economist, pioneered the econometric empirical modelling; 2. Probability theory: Arnold Zellner, University of Chicago analysis of panel data. This book a modelling framework; 3. The notion of a presents many of his classic papers and Probability model; 4. The notion of a Contents: Part I. Information Processing Random Sample; 5. Theoretical concepts provides a valuable synthesis of panel Recovery: 1. The process of econometric data econometrics starting with early and real data; 6. The notion of a Non- information recovery; 2. Probability- Random sample; 7. Regression and related work and including the latest econometric models; Part II. Regression developments in the field. It can be read notions; 8. Stochastic processes; 9. Limit Model-estimation and Inference: 3. The theorems; 10. From Probability Theory to at many levels – as a history of an multivariate normal linear regression important line of econometric research, Statistical Inference; 11. An introduction to model: ML estimation; 4. The multivariate Statistical Inference; 12. Estimation I: as a guide to a vast literature and as a normal linear regression model: inference; resource for solving specific empirical 5. The linear semiparametric regression model: least squares estimation; 6. The Econometrics 7

Properties of estimators; 13. Estimation II: The Econometric Analysis of Methods of estimation; 14. Hypothesis Themes in Modern Seasonal Time Series testing; 15. Misspecification testing; Econometrics References; 16. Index. Eric Ghysels 1999 247 x 174 mm 844pp 136 tables 270 graphs Themes in Modern Econometrics provides University of North Carolina, Chapel Hill 0 521 41354 0 Hardback £75.00 an organized sequence of textbooks in and Denise R. Osborn 0 521 42408 9 Paperback £29.95 econometrics aimed directly at the University of Manchester student population, and is the first series Stated Choice Methods Economic and financial time series feature in the discipline to have this as its important seasonal fluctuations. Despite Analysis and Applications express aim. Written at a level accessible their regular and predictable patterns over Jordan J. Louviere to students with an introductory course the year, month or week, they pose many University of Sydney in econometrics behind them, each challenges to economists and David A. Hensher book addresses topics or themes that econometricians. This book provides a University of Sydney students and researchers encounter daily. thorough review of the recent and Joffre D. Swait While each book is able to stand alone developments in the econometric analysis University of Florida as an authoritative survey in its own of seasonal time series. With contributions by Wiktor Adamowicz right, the distinct emphasis throughout Themes in Modern Econometrics is on pedagogic excellence. This graduate and practitioner guide to 2001 228 x 152 mm 250pp 15 line diagrams analysing consumer choice behaviour Forthcoming Textbook 2 tables concentrates on stated preference (SP) 0 521 56260 0 Hardback £47.50 methods. The authors show how these Semiparametric Regression for the 0 521 56588 X Paperback £17.95 Applied Econometrician methods can be implemented, from Textbook experimental design to econometric Adonis Yatchew modelling, and also combined with University of Toronto Econometrics of Qualitative Dependent Variables revealed preference (RP) data. The book This book provides an accessible collection also presents an update of econometric of techniques for analyzing nonparametric Christian Gourieroux approaches to choice modelling. and semiparametric regression models. CREST-INSEE, Paris 2000 247 x 174 mm 418pp 110 tables 54 figures Worked examples include estimation of Translated by Paul B. Klassen 0 521 78275 9 Hardback £75.00 0 521 78830 7 Paperback £27.95 Engel curves and equivalence scales, scale Contents: 1. Introduction; 2. The simple economies, semiparametric Cobb-Douglas, dichotomy; 3. Modelling; 4. Estimation Textbook translog and CES cost functions, household methods and tests; 5. The log-linear model The Econometric Modelling of gasoline consumption, hedonic housing and its applications; 6. Qualitative panel Financial Time Series prices, option prices and state price density data; 7. The Tobit model; 8. Models of Second edition estimation. The book should be of interest market disequilibrium; 9. Truncated to a broad range of economists including Terence C. Mills variables in simultaneous equations; Loughborough University those working in industrial organization, 10. Simultaneous equation systems; labor, development, urban, energy and 11. The Poisson model; 12. Models of Contents: 1. Introduction; 2. Univariate financial economics. A variety of testing duration. linear stochastic models: basic concepts; procedures are covered including simple Themes in Modern Econometrics 3. Univariate linear stochastic models: goodness of fit tests and residual regression 2000 228 x 152 mm 384pp 28 line diagrams further topics; 4. Univariate non-linear tests. These procedures can be used to test 5 tables stochastic models; 5. Modelling return hypotheses such as parametric and 0 521 33149 8 Hardback £55.00 distributions; 6. Regression techniques for semiparametric specifications, significance, 0 521 58985 1 Paperback £19.95 non-integrated financial time series; monotonicity and additive separability. Textbook 7. Regression techniques for integrated Other topics include endogeneity of Unit Roots, Cointegration, and financial time series; 8. Further topics in parametric and nonparametric effects, as the analysis of integrated financial time well as heteroskedasticity and Structural Change series; Data Appendix; References. autocorrelation in the residuals. Bootstrap G. S. Maddala 1999 228 x 152 mm 380pp 35 tables 46 figures procedures are provided. and In-Moo Kim 0 521 62492 4 Paperback £21.95 Contents: 1. Introduction to differencing; Sung Kyun Kwan University, Seoul 2. Background and overview; Time series analysis has undergone many 3. Introduction to smoothing; 4. Higher changes during recent years with the order differencing procedures; advent of unit roots and cointegration. 5. Nonparametric functions of several This textbook by best-selling author G. S. variables; 6. Constrained estimation and Maddala and In-Moo Kim is based on a hypothesis testing; 7. Index models and successful lecture programme and provides other semiparametric specifications; a comprehensive review of these topics as 8. Bootstrap procedures; References; well as of structural change. Appendices. Themes in Modern Econometrics Themes in Modern Econometrics 1999 228 x 152 mm 523pp 21 tables 8 graphs 2003 228 x 152 mm 200pp 30 line diagrams 0 521 58782 4 Paperback £23.95 22 tables 0 521 81283 6 Hardback c. £45.00 0 521 01226 0 Paperback c. £16.95 Publication July 2003

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Textbook New Volume 1 Fifth Edition 3 Volume set Advances in Economics and Econometrics: Theory and Generalized Method of Moments Advances in Economics and Applications Estimation Econometrics: Theory and Eighth World Congress Edited by Laszlo Matyas Applications Volume 1 Budapest University of Economic Sciences Eighth World Congress Edited by Mathias Dewatripont The principal objective of this volume, the Edited by Mathias Dewatripont Université Libre de Bruxelles first devoted entirely to the GMM Université Libre de Bruxelles Lars Peter Hansen methodology, is to offer a complete and up Lars Peter Hansen University of Chicago to date presentation of the theory of GMM University of Chicago and Stephen J. Turnovsky estimation as well as insights into the use and Stephen J. Turnovsky University of Washington University of Washington of these methods in empirical studies. It is Contents: 1. Auctions and efficiency; also designed to serve as a unified This is the set of three volumes containing 2. Why every economist should learn some framework for teaching estimation theory edited versions of papers and commentaries auction theory; 3. Global games: theory in econometrics. presented in invited symposium sessions of and applications; 4. Testing contract Contents: Preface; 1. Introduction to the the Eighth World Congress of the theory: a survey of some recent work; generalized method of moments estimation Econometric Society. The papers 5. The economics of multidimensional David Harris and László Mátyás; 2. GMM summarize and interpret recent key screening; Discussion of papers; 6. Theories estimation techniques Masao Ogaki; developments and discuss future directions of fairness and reciprocity: evidence and 3. Covariance matrix estimation Matthew J. in a wide range of topics in economics and economic applications; 7. Hyperbolic Cushing and Mary G. McGarvey; econometrics. discounting and consumption; Discussion 4. Hypothesis testing in models estimated of papers; 8. Agglomeration and economic ‘These volumes provide valuable, up to by GMM Alastair R. Hall; 5. Finite sample theory; 9. Non-market interactions. date surveys of the frontiers of properties of GMM estimators and tests econometrics and economic theory. Contributors: Eric Maskin, Paul Jan M. Podivinsky; 6. GMM estimation They are essential reading for anyone Klemperer, Stephen Morris, Hyun Song of time series models David Harris; interested in modern quantitative Shin, Pierre-Andre Chiappori, Bernard 7. Reduced rank regression using GMM economics.’ Salanié, Jean-Charles Rochet, Lars A. Stole, Frank Kleibergen; 8. Estimation of linear James Heckman, D. P. A. Chiappori, B. Salanié, J.-.C panel data models using GMM Seung C. Nobel Laureate, University of Chicago Rochet, Patrick Legros, Ernst Fehr, Klaus Ahn and Peter Schmidt; 9. Alternative M. Schmidt, Christopher Harris, David GMM methods for nonlinear panel data ‘These volumes contain a wonderful Laibson, E. Fehr, K. M. Schmidt, C. models Jörg Breitung and Michael Lechner; collection of essays. Each one provides a Harris, D. Laibson, Glenn Ellison, 10. Simulation based method of moments review of the most important Masahisa Fujita, Jacques-Francois Thisse, Roman Liesenfeld and Jörg Breitung; developments in a particular area of Edward Glaeser, Jose A. Scheinkman 11. Logically inconsistent limited economics, written by distinguished Econometric Society Monographs, 35 dependent variables models J. S. Butler members of the profession. Auctions, 2003 228 x 152 mm 392pp 30 line diagrams and Gabriel Picone; Index. behavioral economics, competition 0 521 81872 9 Hardback c. £65.00 Themes in Modern Econometrics 0 521 52411 3 Paperback c. £21.95 policy, econometric methods and Publication March 2003 1999 228 x 152 mm 328pp 14 tables applications, and applied contract 0 521 66013 0 Hardback £47.50 theory are among a host of subjects Volume 2 0 521 66967 7 Paperback £17.95 covered. Readers interested in the Advances in Economics and Econometric Society frontiers of economic research will find Econometrics: Theory and these volumes invaluable.’ Applications Monographs Elhanan Helpman, Eighth World Congress Harvard and Tel Aviv Universities The Econometric Society is an Volume 2 international society for the ‘With each essay written by a research Edited by Mathias Dewatripont advancement of economic theory in leader, Advances in Economics and Université Libre de Bruxelles relation to statistics and mathematics. Econometrics provides a terrific Lars Peter Hansen The Econometric Society Monograph opportunity for economists of every University of Chicago series is designed to promote the stripe to learn about what is happening and Stephen J. Turnovsky publication of original research at the many frontiers of economics University of Washington contributions of high quality in research. These three volumes belong on Contents: 1. Sorting, education, and mathematical economics and theoretical the shelves of every serious economics inequality; 2. Wage equations and and applied econometrics. researcher.’ education policy; Empirical and theoretical Paul Milgrom, Stanford University issues in the analysis of education policy: a discussion of the papers by Raquel Econometric Society Monographs Fernandez and Kenneth I. Wolpin; 2003 228 x 152 mm 1088pp 3. Toward a theory of competition policy; 0 521 81875 3 3 Volume Set (Hardback) c.£170.00 4. Identification and estimation of cost 0 521 52414 8 3 Volume Set functions using observed bid data: an (Paperback) c. £60.00 application to electricity markets; Publication March 2003 5. Liquidity, default, and crashes: endogenous contracts in general Econometrics 9 equilibrium; 6. Trading volume; Discussion New 2 Volume set of papers by John Geanakoplos and by Andrew Lo and Jiang Wang; 7. Inverse Analysis of Panel Data Essays in Econometrics problems and structural econometrics: Second edition Collected Papers of Clive W. J. Granger the example of instrumental variables; Cheng Hsiao Edited by Eric Ghysels 8. Endogeneity in nonparametric and University of Southern California University of North Carolina, Chapel Hill semiparametric regression models; Norman R. Swanson Discussion of papers by Jean-Pierre Florens Texas A & M University and by Richard Blundell and James Powell. and Mark Watson Princeton University, New Jersey Contributors: Raquel Fernandez, Kenneth I. Wolpin, Costas Meghir, Patrick Rey, These essays by Clive W. J. Granger, span Frank Wolak, John Geanakoplos, Andrew more than four decades and explore topics W. Lo, Franklin Allen, Jean-Pierre Florens, in spectral analysis, seasonality, Richard Blundell, Manuel Arellano nonlinearity, methodology, forecasting, causality, integration and cointegration, Econometric Society Monographs, 36 and long memory. The introduction places 2003 228 x 152 mm 384pp 20 line diagrams 10 tables the essays in context and demonstrates 0 521 81873 7 Hardback c. £65.00 their enduring value. 0 521 52412 1 Paperback c. £21.95 Econometric Society Monographs Publication March 2003 2001 228 x 152 mm 944pp 77 line diagrams Volume 3 125 tables 0 521 80407 8 2 Volume Hardback Set Advances in Economics and £140.00 Econometrics: Theory and 0 521 79697 0 2 Volume Paperback Set Panel data models have become £49.95 Applications increasingly popular among applied Eighth World Congress researchers due to their heightened capacity Volume 1 Volume 3 for capturing the complexity of human Essays in Econometrics Edited by Mathias Dewatripont behavior as compared to cross-sectional or Collected Papers of Clive W. J. Granger Université Libre de Bruxelles time series data models. As a consequence, Volume 1: Spectral Analysis, Seasonality, Lars Peter Hansen richer panel data sets also have become Nonlinearity, Methodology, and Forecasting University of Chicago increasingly available. This second edition Edited by Eric Ghysels and Stephen J. Turnovsky is a substantial revision of the highly Texas A & M University University of Washington successful first edition of 1986. Recent Norman R. Swanson Contents: 1. Contracting constraints, advances in panel data research are Princeton University, New Jersey credit markets, and economic development; presented in a rigorous and accessible and Mark W. Watson manner and are carefully integrated with 2. Extracting business cycle indexes from Contents: Part I. Spectral Analysis: the older material. The thorough discussion large data sets: aggregation, estimation, 1. Spectral analysis of New York Stock of theory and the judicious use of empirical identification; 3. Macroeconomic Market prices O. Morgenstern; 2. The examples make this book useful to graduate forecasting using many predictors; typical spectral shape of an eonomic students and advanced researchers in Comments on papers by Lucrezia Reichlin variable; Part II. Seasonality: 3. Seasonality: economics, business, sociology, political and by Mark W. Watson; 4. How severe is causation, interpretation and implications science, etc. Other specific revisions the time inconsistency problem in A. Zellner; 4. Is seasonal adjustment a include the introduction of the notion of monetary policy?; 5. New perspectives on linear or nonlinear data-filtering process? strict exogeneity with estimators presented monetary policy, inflation, and the business E. Ghysels and P. L. Siklos; Part III. in a generalized method of moments cycle; Comments on papers by Jordi Nonlinearity: 5. Non-linear time series framework, the notion of incidental Gali and by Stephania Albenesi; modeling A. Anderson; 6. Using the parameters, more intuitive explanations of 6. Consumption smoothing and extended correlation exponent to decide whether an pairwise trimming, and discussion of families; 7. Computational methods for economic series is chaotic T. Liu and W. P. sample selection dynamic panel models. dynamic equilibria with heterogeneous Heller; 7. Testing for neglected nonlinearity agents. Econometric Society Monographs, 34 in time series models: a comparison of Contributors: Abhijit V. Banerjee, Lucrezia 2002 228 x 152 mm 376pp 16 line diagrams 33 tables neural network methods and alternative Reichlin, Mark W. Watson, Frank Diebold, 0 521 81855 9 Hardback £65.00 tests; 8. Modeling nonlinear relationships Stephania Albenesi, V. V. Chari, Lawrence 0 521 52271 4 Paperback £21.95 between extended-memory variables; J. Christiano, Jordi Gali, Orazio P. Publication December 2002 9. Semiparametric estimates of the relation Attanasio, Jose-Victor Rios-Rull, Kenneth between weather and electricity sales L. Judd, Felix Kubler, Kaarl Schmedders R. F. Engle, J. Rice and A. Weiss; Part IV. Econometric Society Monographs, 37 Methodology: 10. Time series modeling 2003 228 x 152 mm 392pp 25 line diagrams and interpretation M. J. Morris; 11. On the 5 tables invertibility of time series models 0 521 81874 5 Hardback c. £65.00 0 521 52413 X Paperback c. £21.95 A. Anderson; 12. Near normality and some Publication March 2003 econometric models; 13. The time series approach to econometric model building P. N ewbold; 14. Comments on the evaluation of policy models; 15. Implications of aggregation with common factors; Part V. Forecasting:

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16. Estimating the probability of flooding relationships and the aggregation of Forthcoming publications in the on a tidal river; 17. Prediction with a dynamic models; 19. A long memory generalized cost of error function; property of stock market returns and a new series 18. Some comments on the evaluation of model Z. Ding and R. F. Engle. Matrix Algebra economic forecasts P. N ewbold; 19. The Econometric Society Monographs, 33 Karim M. Abadir and Jan Magnus combination of forecasts; 20. Invited 2001 228 x 152 mm 396pp 44 line diagrams Statistics review: combining forecasts – twenty years 49 tables Publication December 2003 later; 21. The combination of forecasts 0 521 79207 X Hardback £70.00 Karim M. Abadir, Risto D. H. Heijmans, 0 521 79649 0 Paperback £25.95 using changing weights M. Deutsch and and Jan Magnus Publication December 2003 T. Terasvirta; 22. Forecasting transformed New Series in 2003 series; 23. Forecasting white noise A. Econometric Models Zellner; 24. Can we improve the perceived Econometric Exercises I: The Linear Model quality of economic forecasts? Short-run Paolo Paruolo forecasts of electricity loads and peaks The volumes in Econometric Exercises Publication December 2003 R. Ramanathan, R. F. Engle, F. VAhid- are intended to be much more than a Econometric Models Araghi and C. Brace. collection of solved exercises. Each I: Empirical Applications Econometric Society Monographs, 32 volume will have a coherent and well- Arthur van Soest and Marno Verbeek 2001 228 x 152 mm 544pp 33 line diagrams organized sequence of exercises in a Publication December 2003 76 tables specific field or sub-field of 0 521 77297 4 Hardback £75.00 econometrics. Solved exercises will be 0 521 77496 9 Paperback £27.95 assembled together in a structured and Journal Volume 2 logical pedagogical framework that seeks Econometric Theory Essays in Econometrics to develop the subject matter of the Editor: Peter C. B. Phillips Collected Papers of Clive W. J. Granger field from its foundations up. Yale University Volume 2: Causality, Integration and Each chapter of a volume begins with a Econometric Theory is an international Cointegration, and Long Memory short technical introduction that journal dedicated to advancing theoretical Edited by Eric Ghysels emphasizes the main ideas and research in econometrics. The journal University of North Carolina, Chapel Hill overviews the most relevant theorems provides an authoritative, centralized, Norman R. Swanson and results. The introductions are professional outlet for original Rutgers University, New Jersey followed by a sequential development of contributions in all of the major areas of and Mark W. Watson the material by solved examples and econometrics. As well as periodic book Princeton University, New Jersey applications, and computer exercises reviews and articles that embody original Contents: Part I. Causality: 1. Investigating where they are appropriate. Each theoretical research, the journal publishes causal relations by econometric models and volume is self-contained, has a full historical studies on the evolution of cross-spectral methods; 2. Testing for index, and includes cross-reference to econometric thought and on major causality; 3. Some recent developments in a other volumes in the series. We aim for scholars. Econometric Theory also serves an concept of causality; 4. Advertising and a balance of about 15–20% theory and educational role by the inclusion of an on- aggregate consumption: an analysis of 80–85% exercises. The volumes will be going ‘Problems and Solutions’ series and causality R. Ashley and R. Schmalensee; Part brief and economical, but a certain by ‘ET Interviews’ with pre-eminent II. Integration and Cointegration: amount of repetition is encouraged, scholars in the field. 5. Spurious regressions in econometrics; where it is considered helpful in Subscriptions 6. Some properties of time series data and improving the readability of the Volume 19 in 2003: February, April, June, their use in econometric model volumes, and in widening their August, October and December Institutions print and electronic: £275/$440 specification; 7. Time series analysis of potential audience. Institutions electronic only: £238/$382 error correction models A. A. Weiss; 8. Co- The volumes are intended for Individuals print plus electronic: £91/$152 Integration and error-correction: Students: £48/$78 undergraduate students of econometrics Econometric Society, American Statistical Society: representation, estimation and testing; with an introductory knowledge of £67/$113 9. Developments in the study of statistics, for first and second year Print ISSN 0266-4666 cointegrated economic variables; graduate students of econometrics, and Electronic ISSN 1469-4360 10. Seasonal integration and cointegration for students and instructors from S. Hylleberg, R. F. Engle and B. S. Yoo; neighboring disciplines (like statistics, 11. A cointegration analysis of Treasury Bill political science, psychology and yields A. D. Hall and H. M. Anderson; communication) with interests in 12. Estimation of common long-memory econometric methods. The volumes components in Cointegrated Systems increase in difficulty as the topics J. Gonzalo; 13. Separation in cointegrated become more specialized. systems and persistent-transitory decompositions N. Haldrup; 14. Nonlinear transformations of Integrated Time Series J. Hallman; 15. Long Memory Series with attractors J. Hallman; 16. Further developments in the study of cointegrated variables N. R. Swanson; Part III. Long Memory: 17. An introduction to long- memory Time Series models and fractional differencing R. Joyeux; 18. Long-memory Mathematical Methods and Programming 11

Mathematical Methods and 6. Optimal control theory; 7. Chaos Modeling Aggregate Behavior and Programming theory; Part II: 8. Demand and supply Fluctuations in Economics models; 9. Dynamic theory of Stochastic Views of Interacting Agents New second edition oligopoly; 10. Closed economy Masanao Aoki dynamics; 11. The dynamics of inflation University of California, Los Angeles Textbook and unemployment; 12. Open economy This book analyzes how a large number of dynamics: sticky price models; Economic Dynamics agents interact, and the macroeconomic 13. Open economy dynamics; Phase Diagrams and their Economic statistical regularities which may evolve. By 14. Population models; 15. The Application keeping the agents finite, the book dynamics of fisheries. Second edition examines fluctuations about equilibria, Ronald Shone 2002 247 x 174 mm 722pp 245 figures 0 521 81684 X Hardback £95.00 multiple equilibria and asymmetrical cycles University of Stirling 0 521 01703 3 Paperback £34.95 of models which are caused by model states moving from one basin of attraction to Textbook another. An Introduction to Economic 2001 228 x 152 mm 280pp Dynamics 0 521 78126 4 Hardback £45.00 Ronald Shone Textbook University of Stirling Nonlinear Dynamics An examples driven treatment of A Primer introductory economic dynamics for Alfredo Medio students with a basic familiarity of Universita Ca’Foscari, Venice spreadsheets. Shone approaches the and Marji Lines subject with the belief that true Università degli Studi di Udine, Italy understanding of a subject can only be A textbook on the theory of nonlinear achieved by students themselves setting dynamical systems for non-mathematical out a problem and manipulating it final-year undergraduate or graduate experimentally. Includes web-site for students, or as a reference book for students and lecturers. researchers, in the physical and social Visit www.cambridge.org/resources/ sciences. It provides a comprehensive This is the substantially revised and economics introduction including linear systems, restructured second edition of Ron stability theory of nonlinear systems, Shone’s successful advanced textbook ‘Shone’s book is based on the bifurcation theory, chaotic dynamics. Economic Dynamics. The book provides philosophy of learning by experimentation. This book, together Visit detailed coverage of dynamics and phase www.cambridge.org/resources/economics diagrams, including: quantitative and with a web site with additional Contents: 1. Statics and dynamics: some qualitative dynamic systems, continuous downloadable material, provides a elementary concepts; 2. Review of linear and discrete dynamics, linear and non- modern learning environment which systems; 3. Stability of fixed points; linear systems and single equation and makes economic dynamics even more 4. Invariant and attracting sets, periodic systems of equations. It illustrates fun both for undergraduate students and quasiperiodic orbits; 5. Local dynamic systems using Mathematica, and their teachers.’ bifurcations; 6. Chaotic sets and chaotic Maple V and spreadsheets. It provides a Professor Cars Hommes, Center for attractors; 7. Characteristic exponents, thorough introduction to phase Nonlinear Dynamics in Economics and fractals, homoclinic orbits; 8. Transition diagrams and their economic Finance (CeNDEF), Department of to chaos; 9. The ergodic approach; application and explains the nature of Economics and Econometrics, 10. Deterministic systems and stochastic saddle path solutions. The second University of Amsterdam processes. edition contains a new chapter on Contents: Preface; 1. Introduction; 2001 247 x 174 mm 314pp 80 figures oligopoly and an extended treatment of 2. Demand and supply dynamics; 0 521 55186 2 Hardback £70.00 stability of discrete dynamic systems and 3. Simple Keynesian dynamics; 0 521 55874 3 Paperback £24.95 the solving of first-order difference 4. Constructing trajectories in the phase Applied Latent Class Analysis equations. Detailed routines on the use plane; 5. IS-LM dynamics; 6. Inflation- of Mathematica and Maple are now unemployment dynamics; 7. Dynamics Edited by Jacques A. Hagenaars contained in the body of the text, which of the firm; 8. Saddles and rational Tilburg University now includes advice on the use of Excel expectations; 9. Fiscal dynamics and the and Allan L. McCutcheon and additional examples and exercises Maastricht Treaty; 10. A little bit of University of Nebraska, Lincoln throughout. Supporting website chaos; Brief answers to selected Applied Latent Class Analysis introduces contains solutions manual and learning exercises; Further reading. several recent innovations in latent class tools. 2001 247 x 174 mm 236pp 5 half-tones analysis to a wider audience of researchers. Visit http://uk.cambridge.org/ 3 tables 121 figures Many of the world’s leading innovators in resources/0521017033 0 521 80034 X Hardback £50.00 the field of latent class analysis have 0 521 80478 7 Paperback £18.95 Contents: Part I: 1. Introduction; contributed essays to this volume, each 2. Continuous dynamic systems; presenting a key innovation to the basic 3. Discrete dynamic systems; 4. Systems LCM. of first-order differential equations; 2002 228 x 152 mm 476pp 34 line diagrams 118 tables 5. Discrete systems of equations; 0 521 59451 0 Hardback £55.00

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Contents: Preface; 1. Introduction; Part I. Textbook Numerical Recipes Multi-Language Code CD Theory: 2. Basic concepts of game theory; Mathematical Methods and ROM with Windows, DOS, or Macintosh 3. Control theoretic methods; Single-Screen License Models for Economists 4. Markovian equilibria with simultaneous Source Code for the Second Edition Versions of C, Angel de la Fuente play; 5. Differential games with hierarchical C++, Fortran 77, Fortran 90, and the First Edition Instituto de Análisis Económico (CSIC), Barcelona play; 6. Trigger strategy equilibria; Versions of Pascal, BASIC, Lisp and Modula 2 plus many extras 7. Differential games with special Second edition ‘The textbook is highly recommended structures; 8. Stochastic differential games; William H. Press to graduate students of economics. Part II. Applications: 9. Capital Los Alamos National Laboratory Furthermore, it provides a useful accumulation games; 10. Industrial Saul A. Teukolsky Cornell University, New York mathematical reference for researchers in organization and oligopoly games; economics.’ William T. Vetterling 11. Differential games in marketing; Polaroid Corporation Roland Fahrion, Zentralblatt MATH 12. Differential games in resources and and Brian P. Flannery environmental economics; Answers and EXXON Research and Engineering Company Contents: Part I. Preliminaries: 1. Review hints for exercises; Bibliography. 2002 ISO 9660 of basic concepts; 2. Metric and normed 0 521 75035 0 CD-ROM £59.95+VAT 2000 247 x 174 mm 394pp 9 tables 10 figures spaces; 3. Vector spaces and linear 0 521 63125 4 Hardback £65.00 Numerical Recipes Multi-Language Code CD mappings; 4. Differential calculus. 0 521 63732 5 Paperback £23.95 ROM with LINUX or UNIX Single-Screen 2000 253 x 177 mm 846pp 224 line diagrams License 0 521 58512 0 Hardback £75.00 Numerical Recipes in C++ Source Code for the second edition versions of C, 0 521 58529 5 Paperback £28.95 The Art of Scientific Computing C++, Fortran 77, Fortran 90, and the first edition versions of Pascal, BASIC, Lisp and Modula 2 plus Textbook Second edition William H. Press many extras Differential Games in Economics Second edition Los Alamos National Laboratory William H. Press and Management Science Saul A. Teukolsky Los Alamos National Laboratory Engelbert J. Dockner Cornell University, New York Saul A. Teukolsky Universität Wien, Austria William T. Vetterling Cornell University, New York William T. Vetterling Steffen Jorgensen Polaroid Corporation Polaroid Corporation Odense Universitet, Denmark and Brian P. Flannery and Brian P. Flannery Ngo Van Long EXXON Research and Engineering Company EXXON Research and Engineering Company McGill University, Montréal Now, the acclaimed Second Edition of 2002 ISO 9660 0 521 75036 9 CD-ROM £99.95+VAT and Gerhard Sorger Numerical Recipes is available in the C++ Queen Mary and Westfield College, University of object-oriented programming language. Journal London Including and updating the full A comprehensive, self-contained survey of Probability in the Engineering and mathematical and explanatory contents of Informational Sciences the theory and applications of differential Numerical Recipes in C, this new version games. No prior knowledge of game theory incorporates completely new C++ versions Editor: Sheldon M. Ross is assumed, although a basic knowledge of of the more than 300 Numerical Recipes University of California, Berkeley linear algebra, differential equations and routines that are widely recognized as the This journal focuses on stochastic mathematical programming is required. A most accessible and practical basis for modelling in the physical and engineering research resource for scholars and an scientific computing. sciences, with particular emphasis on advanced textbook designed for usage 2002 246 x 168 mm 1032pp 100 line diagrams queueing theory, reliability theory, across the social sciences. 0 521 75033 4 Hardback £45.00 inventory theory, simulation, stochastic control theory and probabilistic networks ‘This book brings together the various Numerical Recipes Example Book (C++) The Art of Scientific Computing and graphs. Papers on analytic properties strands of knowledge on non- Second edition and related disciplines are also considered, cooperative differential games for the William T. Vetterling as well as more general papers on applied first time. A great merit of the text is Polaroid Corporation and computational probability, if William H. Press that it is, technique-wise, self-contained. appropriate. Readers include academics The large number of worked examples Los Alamos National Laboratory Saul A. Teukolsky working in statistics, operations research, enhances considerably the clarity of the Cornell University, New York computer science, engineering, material … The book fills a large gap and Brian P. Flannery management science and physical sciences and will facilitate inclusion of EXXON Research and Engineering Company as well as industrial practitioners engaged differential games as part of mainstream 2002 228 x 152 mm 330pp 0 521 75034 2 Paperback £22.95 in telecommunications, computer science, game theory courses at advanced engineering, operations research and undergraduate and graduate levels. Numerical Recipes Source Code in C and management science. Teaching purposes aside, game theorists C++ CD ROM with Windows or Macintosh Subscriptions as well as PhD students will benefit a lot Single-Screen License Volume 17 in 2003: January, April, July from this excellent new text. The book The Art of Scientific Computing and October will enable researchers to add Second edition Institutions print and electronic: £290/$450 William H. 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communities; detailed analyses of three key and practice of gambling, written by two Microeconomics industries (biotechnology, e-commerce, and experts from the US and Britain and using telecommunications); and considerations of examples from an international range of Forthcoming challenges in policy implementation. sports betting markets. Building a Dynamic Europe 2003 228 x 152 mm 275pp 8 line diagrams 2003 228 x 152 mm 260pp The Key Policy Debates 14 tables 0 521 81603 3 Hardback c. £45.00 0 521 82677 2 Hardback c. £30.00 Publication June 2003 Edited by Jordi Gual Publication October 2003 IESE Business School, Barcelona Forthcoming Forthcoming A succinct survey of the most important Generational Income Mobility in economic policy issues facing European Marriage and the Economy North America and Europe governments and business as they strive Theory and Evidence from Advanced Edited by Miles Corak to restore growth to the region’s flagging Industrial Societies economy. Written in a largely non- Edited by Shoshana Grossbard-Shechtman What economic regimes offer children technical style, the book nevertheless San Diego State University born into poor families the best hope of contains some of the sharpest analyses Marriage and the Economy explores how moving into higher income groups? This available of the economic problem marriage influences the monetized study analyses and contrasts the experience facing Europe’s policy makers and will economy as well as the household of the more free market North American be essential reading for anybody with an economy. Marriage institutions are to the and British economies with the more academic or professional interest in household economy what business corporate state models of continental European integration. institutions are to the monetized economy, Europe. The book has been written by Contents: 1. Reforming the Union: To and marital status is clearly related to the leading economists from North America what extent should economic policies be household economy. Marriage also and Europe and combines innovative harmonized?; 2. Challenges for influences the economy as conventionally methodology with surprising conclusions. macroeconomic policy in EMU; measured via its impact on labor supply, The book ends with two more policy- 3. Improving the performance of the workers’ productivity, savings, oriented, less technical chapters which European social model; 4. Economic consumption, and government programs place intergenerational mobility in a reform in Europe: Integrating and such as welfare programs and social broader perspective. liberalizing the market for network security. The macro-economic analyses Contents: 1. Introduction M. Corak; 2. A services; 5. Economic reform in Europe: presented here are based on the micro- model of intergenerational mobility Integrating and liberalizing the market economic foundations of cost/benefit variation over time and place G. Solon; for financial services. analysis, game theory, and market analysis. 3. Measures of mobility in the United 2003 216 x 138 mm 140pp Micro-economic analysis of marriage, States and abroad N. Grawe; 4. Has the 0 521 82734 5 Hardback c. £40.00 divorce, and behavior within marriages are intergenerational transmission of economic Publication September 2003 investigated by a number of specialists in status changed? S. Mayer and L. Lopoo; various areas of economics. Western values 5. Patterns and mechanisms in the degree Forthcoming and laws have been very successful at of intergenerational mobility J. Blanden, The Emergence of transforming the way the world does A. Goodman, P. Gregg and S. Machin; Entrepreneurship Policy business, but its success at maintaining 6. Intergenerational mobility in Great Governance, Start-Ups, and Growth in the US individual commitments to family values is Britain J. Ermisch and M. Francesconi; Knowledge Economy less impressive. 7. Nonlinearities in intergenerational Edited by David M. Hart 2003 228 x 152 mm 305pp 10 line diagrams mobility: A comparison of Germany and 46 tables Harvard University, Massachusetts the United States K. Couch and D. Lillard; 0 521 81454 5 Hardback c. £50.00 This volume seeks to catalyze the 0 521 89143 4 Paperback c. £18.95 8. The anatomy of intergenerational and emergence of a new field of policy studies: Publication May 2003 sibling correlations in the Nordic countries A. Björklund, T. Eriksson, M. Jäntti, entrepreneurship policy. Practical Forthcoming experience and academic research both O. Raaum and E. Österbacka; 9. New point to the central role of entrepreneurs in Information Efficiency in Gambling evidence on the intergenerational the process of economic growth and to the Markets correlations in welfare participation importance of public policy in creating the Leighton Vaughan-Williams M. Page; 10. Intergenerational influences conditions under which entrepreneurial Nottingham Trent University on the receipt of unemployment insurance companies can flourish. The contributors, and Raymond D. Sauer, Jr. in Canada and Sweden M. Corak, who hail from the disciplines of economics, Clemson University, South Carolina B. Gustafsson and T. Österberg; 11. Conclusion. geography, history, law, management, and Gambling markets offer economists a 2003 228 x 152 mm 256pp political science, seek to crystallize key fascinating case study of how information 0 521 82760 4 Hardback c. £45.00 findings and to stimulate debate about efficiency operates in a market. Insights Publication September 2003 future opportunities for policy-makers and gained from gambling interest a wide researchers in this area. The chapters community: governments, who like to tax include surveys of the economic, social, gamblers; financial market analysts, who and cultural contexts for US themselves gamble on the financial entrepreneurship policy; assessments of markets; and, lastly, mathematicians, who regional efforts to link knowledge bring their particular skills to the great producers to new enterprises; explorations mathematical puzzle of gambling. All these of policies that aim to foster will want to read this survey of the theory entrepreneurship in under-represented

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Macroeconomics and New Textbook Forthcoming Monetary Economics The Economics of Exchange Rates Monetary Policy Transmission in Lucio Sarno the Euro Area University of Warwick New Edited by Ignazio Angeloni and Mark Taylor European Central Bank, Frankfurt Towards a New Paradigm in University of Warwick Anil Kashyap Monetary Economics University of Chicago Joseph E. Stiglitz and Benoit Mojon Columbia University, New York European Central Bank, Frankfurt and Bruce Greenwald As Central Banks are charged with meeting Columbia University, New York specific targets on inflation, output and employment there has been a big increase in research into understanding better how changes in monetary policy affect the economy. The research to date has largely focused on national central banks, with research pioneered by work on the US Federal Reserve Bank and the impacts of its policy decisions on the US economy. This book offers the most systematic analysis available of the impact of European Central Bank monetary policy on the national economies of the Eurozone. Contents: Preface; Introduction; Part I. In the last few decades exchange rate Macroeconometric Evidence on the economics has seen a number of Transmission Mechanism in the Euro Area: developments, with substantial 1. The monetary transmission mechanism Towards a New Paradigm for Monetary contributions to both the theory and in the Euro area: more evidence from VAR Economics presents a pioneer treatment empirics of exchange rate determination. analysis G. Peersman and F. Smets; 2. A of critical topics in monetary Important developments in econometrics VAR description of the effects of monetary economics. Unlike the prevailing and the increasingly large availability of policy in the individual countries of the monetary theory, this book focuses not high-quality data have also been Euro area B. Mojon and G. Peersman; on the role of money in facilitating responsible for stimulating the large 3. The monetary transmission mechanism transactions, but on the role of credit in amount of empirical work on exchange at the Euro area level: issues and results facilitating economic activities more rates in this period. Nonetheless, while our using structural macroeconomic models broadly. The ‘new paradigm’ emphasizes understanding of exchange rates has P. McAdam and J. Morgan; 4. Monetary the demand and supply of loanable significantly improved, a number of policy transmission in the Euro area: what funds, which in turn requires the challenges and open questions remain in do aggregate and national structural models understanding of the imperfections of the exchange rate debate, enhanced by tell us? P. v an Els, A. Locarno, J. Morgan information and the role of banks. One events including the launch of the Euro and J.-P.. Villetelle; 5. Some stylised facts on enlightening view is that credit is quite and the large number of recent currency the Euro area business cycle A–M. Agresti different from other commodities in the crises. This volume provides a selective and B. Mojon; Part II. The Role of Banks sense that the former is based on coverage of the literature on exchange rates, in the Transmission: Evidence from Micro- information and default risk. The book focusing on developments from within the Economic Data: 6. Financial systems and consists of two parts. The first part last fifteen years. Clear explanations of the role of banks in monetary policy develops a basic model of credit based theories are offered, alongside an appraisal transmission in the Euro area M. Ehrmann, on banks’ portfolio choices. The second of the literature and suggestions for further L. Gambacorta, J. Martinez-Pagés, P. Sevestre part is dedicated to the policy research and analysis. and A. Worms; 7. The reaction of bank implications, among which are the lending to monetary policy measures in ‘Sarno and Taylor’s book is a tour de liberalization of financial markets, the Germany A. Worms; 8. Asymmetries in force. The exposition is comprehensive, East Asian Crisis, the 1991 US recession bank lending behaviour S. Kaufmann; covering contributions from all corners and the subsequent recovery. 9. The credit channel in The Netherlands: of the field, and covering the range from Professor Joseph E. Stiglitz is the winner evidence from bank balance sheets L. De the seminal models of the 1970s to the of the 2001 Nobel Prize for Economics. Haan; 10. Is there a bank lending channel latest discoveries on the theoretical and of monetary policy in Spain? I. Hernando Raffaele Mattioli Lectures econometric frontiers of the 2000s. 2003 216 x 138 mm 275pp 59 graphs and J. Martinez-Pagés; 11. Monetary policy There is no excess verbiage or 0 521 81034 5 Hardback c. £40.00 and bank lending in France: are there mathematics. Everything is there to 0 521 00805 0 Paperback c. £14.95 asymmetries? C. Loupias, F. Savignac and Publication March 2003 serve a purpose. This is the current state P. Sevestre; 12. The bank lending channel of of knowledge.’ monetary policy: identification and Jeffrey A. Frankel, Harvard University estimation using Portuguese micro bank 2002 247 x 174 mm 330pp 10 figures data L. Farinha and C. Robalo; 13. 0 521 48133 3 Hardback £65.00 Transmission of monetary policy shocks in 0 521 48584 3 Paperback £24.95 Finland: evidence from bank-level data on loans J. Topi and J. Vilmunen; 14. Bank- Macroeconomics and Monetary Economics 15 specific characteristics and monetary estimation errors using data on the US, Forthcoming policy transmission: the case of Italy Euro area and developing countries. Other L. Gambacorta; 15. Is there a bank lending chapters focus on modelling crucial aspects Productivity Growth, Inflation, and channel of monetary policy in Greece? such as productivity, the exchange rate and Unemployment S. Brissimis, N. Kamberoglou and G. the monetary sector. These issues are The Collected Essays of Robert J. Gordon Simigiannis; Part III. Firms Investment and counterpointed by contributions, which Robert J. Gordon Monetary Policy: Evidence from Micro- analyse contemporary monetary policy in The 17 seminal essays by Robert J. Gordon Economic Data: 16. Firm investment and Japan and the UK. collected here, including three previously monetary transmission in the Euro area 2002 228 x 152 mm 274pp 35 tables 25 figures unpublished works, offer sharply etched 0 521 81346 8 Hardback £45.00 countries J. B. Chatelain, A. Generale, views on the principal topics of I. Hernando, P. Vermeulen and U. von New macroeconomics – namely, growth, Kalckreuth; 17. Investment, the cost of The Changing Face of Central inflation, and unemployment. The author capital and monetary policy in the Nineties re-examines their salient points in a in France: a panel data investigation J. B. Banking uniquely creative, accessible introduction Chatelain and A. Tiomo; 18. The interest Evolutionary Trends since World War II that serves on its own as an introduction to rate and credit channels in Belgium: an Pierre Siklos modern macroeconomics. Each of the four investigation with micro-level firm data Wilfrid Laurier University, Ontario parts into which the essays are grouped also P. B utzen, C. Fuss and P. Vermeulen; offers a new introduction. The papers in 19. Monetary transmission in Germany: Part I explore different key aspects of the new perspectives on finance constraints and history, theory, and measurement of investment spending U. von Kalckreuth; productivity growth. The essays in Part II 20. Credit channel and investment investigate the sources of business cycles behaviour in Austria: A micro-econometric and productivity fluctuations. Those in approach M. Valderrama; 21. Does Part III cover the effects of supply shocks monetary policy have asymmetric effects? in macroeconomics. The final group A look at the investment decisions of presents empirical studies of the dynamics Italian firms E. Gaiotti and A. Generale; of inflation in the United States. The 22. Monetary transmission: empirical foreword by Nobel Laureate Robert M. evidence from Luxembourg firm level data Solow comments on the abiding P. L unneman and T. Mathä; 23. Financial importance of these essays drawn from frictions and the monetary transmission 1968 to the present. mechanism: theory, evidence and policy 2003 228 x 152 mm 570pp 46 line diagrams implications C. Bean, J. Larsen and 77 tables K. Nikolov; Part IV. Monetary Policy in 0 521 80008 0 Hardback c. £80.00 Central banks have emerged as the key 0 521 53142 X Paperback c. £29.95 the Euro Area: Where Do We Stand?: Publication August 2003 24. Monetary policy in the Euro area: players in national and international policy where do we stand? I. Angeloni, A. Kashyap, making. This book explores their evolution New B. Mojon and D. Terlizzese; Discussions since World War II in 20 industrial Informality and Monetary Policy in J. von Hagen, V. Gaspar, J. Freixas and countries. The study considers the mix of Japan economic, political, and institutional forces B. Bernanke; Conclusion; Statistical The Political Economy of Bank Performance that have affected central bank behavior appendix; References. Adrian van Rixtel 2003 228 x 152 mm 400pp and its relationship with government. The European Central Bank, Frankfurt 0 521 82864 3 Hardback c. £50.00 analysis reconciles vastly different views Publication July 2003 about the role of central banks in the The success (and recent misfortunes) of the post-war Japanese economy has been one New making of economic policies. One finding is that monetary policy is an evolutionary of the most debated points in modern Monetary Transmission in Diverse process. The emphasis on clarity of economics. Many explanations focus on Economies objectives, transparency of the decision- cultural and institutional factors, and in Edited by Lavan Mahadeva making process, and a clear understanding particular the role of ‘Informality’ Bank of England of the accountability of the central bank (networks organising business activity and and Peter Sinclair cannot be understood in isolation from the government policy). Adrian van Rixtel, an Bank of England previous 50 years of policy making. The economist at the European Central Bank, The transmission mechanism of monetary changing face of central banking, born out provides the first quantitative and policy explains how monetary policy works of the turbulence of the first half of the last qualitative assessment of Informality in the – which variables respond to interest rate century, nurtured by evolution in policies, formation of Japanese monetary policy. changes, when, why, how, how much and defines the history of central banking in Having been based in Japan for three years, how predictably. It is vital that central the second half of the twentieth century. two years of which were spent at the banks and their observers, worldwide, Studies in Macroeconomic History Institute for Monetary and Economic understand the transmission mechanism so 2002 228 x 152 mm 368pp 30 line diagrams Studies at the Bank of Japan and the that they know what monetary policy can 38 tables Japanese Ministry of Finance, he is able to do and what it should do to stabilise 0 521 78025 X Hardback £50.00 bring a unique ‘insider-outsider’ inflation and output. The volume sets out perspective to the subject. different aspects of the transmission 2002 228 x 152 mm 416pp 52 tables 15 figures 0 521 78179 5 Hardback £45.00 mechanism. Some chapters scrutinise the relevance of practical issues such as asymmetries, recent structural changes and

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2003 253 x 177 mm 456pp 49 line diagrams Forthcoming New Textbook 2 tables European Macroeconomic Policies Macroeconomics for Emerging 0 521 78060 8 Hardback £65.00 0 521 78551 0 Paperback £23.95 after Monetary Unification Markets Publication January 2003 Fiscal Policies, Monetary Policies and Labour Peter J. Montiel Markets Williams College, Massachusetts Forthcoming Edited by Roel Beetsma This book is a rigorous, yet Dynamic Macroeconomic Analysis University of Amsterdam nonmathematical analysis of key Edited by Sumru Altug and Carlo Favero macroeconomic issues faced by emerging University of York Università Bocconi economies. The first part develops an Jagjit Chadha Alessandro Missale University of Cambridge Università di Firenze analytical framework that can be used as a workhorse model to study short-run Edited by Charles Nolan Anton Muscatelli University of Durham University of Glasgow macroeconomic issues of stabilization and adjustment in such economies, comparable Piergiovanna Natale Dynamic stochastic general equilibrium Università di Milano Bicocca to the IS-LM framework widely used in (DSGE) models have begun to dominate and Patrizio Tirelli intermediate-level macroeconomics the field of macroeconomic theory and Università di Milano Bicocca textbooks for industrial countries. The rest policy-making. These models describe the of the book considers fiscal issues, financial evolution of macroeconomic activity as a The early years of European Monetary sector issues, and issues concerning recursive sequence of outcomes based upon Union have not been easy for the European exchange rate regimes and policies. In the the optimal decision rules of rational economy. Economists are divided in their fiscal area, the focus is on the formulation households, firms and policy makers. assessment of the effectiveness of key of intertemporal policies, i.e. fiscal Whilst posing a micro-founded dynamic institutions, such as the European Central sustainability, seigniorage, and the roles of optimisation problem for agents under Bank, in their ability both to provide central bank independence and uncertainty, such models have been shown macroeconomic stability and foster the privatization of public enterprises in to be both analytically tractable and reforms necessary to stimulate economic achieving fiscal credibility. The analysis of sufficiently rich for meaningful policy growth. In this collection a team of experts the financial sector examines its role in analysis in a wide class of macroeconomic on the European economy focus on three promoting welfare and growth. Finally, the problems, for example, monetary and fiscal major issues of fiscal policy, monetary book explores recent developments in the policy, economic cycles and growth and policy and labour markets. They provide a theory of appropriate exchange rate regimes capital flows. This volume collects specially survey of recent research on each topic as and management, and provides an commissioned papers from leading well as related state-of-the-art overview of recent currency crises in researchers, which pull together some of contributions. emerging markets. the key recent results in diverse areas. This Contents: Introduction; Part I. Fiscal Contents: Part I. Overview: 1. book will promote research using Policies: Survey; 1. Interaction of fiscal Macroeconomics and development; Part II. optimising models and inform researchers, policies on the Euro area: the ECB view; A Benchmark Macroeconomic Model for post-graduate students and economists in 2. Independent or coordinated? Monetary an Emerging Economy: 2. Equilibrium in policy-oriented organisations of some of and fiscal policy in EMU; 3. Interactions the domestic labor and goods markets; the key findings and policy implications. between monetary and fiscal policy under 3. Equilibrium in the financial markets; 2003 247 x 174 mm 350pp EMU; 4. Fiscal shocks and policy regimes 4. Short-run macroeconomic equilibrium; 0 521 82668 3 Hardback c. £65.00 in some OECD countries; 5. Fiscal and 0 521 53403 8 Paperback c. £24.95 5. Medium-term macroeconomic Publication September 2003 monetary policy interdependence: An equilibrium; Part III. Public Finance and empirical analysis; Part II. Monetary Macroeconomic Performance: 6. The Forthcoming Policies: Survey; 6. The European Central intertemporal budget constraint of the Appointing Central Bankers Bank: A view from across the ocean; public sector; 7. Consequences of The Politics of Monetary Policy in the United 7. Inflation persistence and optimal insolvency I: high inflation; States and the European Union monetary policy in Europe; 8. Core 8. Consequences of insolvency II: public Kelly Chang inflation in the Euro area; Part III. Labour sector debt and economic growth; University of Michigan, Ann Arbor Markets: 9. Unionised labour markets and 9. Measures for achieving fiscal credibility monetary policy: A survey of recent This book examines monetary policy by I: central bank independence; 10. Measures focusing on how the President and the developments; 10. Inflationary for achieving fiscal credibility II: performance in a monetary union with Senate influence monetary policy by privatization; Part IV. The Financial Sector appointing Fed members. The book unionised labour markets; 11. EMU, and Macroeconomic Performance: enlargement, and structural reform. attempts to answer three questions about 11. Finance, welfare, and growth; the appointment process and its effects. Contributors: R. Beetsma, L. Onorante, 12. Financial repression; 13. Financial First, do politicians influence monetary L. Lambertini, R. Rovelli, C. Leith, reform, public policy, and financial crises; policy via Fed appointments? Second, who S. Wren-Lewis, G. De Arcangelis, 14. Financial openness and the sequencing influences the process – the President alone S. Lamartina, A. Muscatelli, P. Tirelli, of financial reform; 15. Coping with or both the President and the Senate? C. Trecroci, C. Favero, S. Cecchetti, capital inflows; Part V. Exchange Rate Third, what explains the structure of the P. B enigno, J. D. Lòpez Salido, F. Bagliano, Management: 16. Equilibrium real Fed appointment process? The test models R. Golinelli, C. Morana, A. Cukierman, exchange rates: 17. Exchange rate regimes; show that the President alone, both the L. Cavallari, Jensen, Hughes Hallett 18. Managing an officially-determined rate; President and Senate, or neither, may 2003 228 x 152 mm 300pp 19. Banking crises and exchange rate crises; influence monetary policy with Fed 0 521 82308 0 Hardback c. £50.00 20. Domestic macroeconomic management Publication May 2003 appointments. The structure of the process in emerging economies: lessons from the reflects political battles between the crises of the nineties. Democrats and Republicans regarding the International Economics 17 centralization of authority to set monitory Journal policy within the Federal Reserve System. International The study extends the analysis of the Fed Macroeconomic Dynamics Economics to the European Central Bank and shows Editor: William A. Barnett University of Kansas that the Fed process guarantees a process Highlight which is more representative of society Macroeconomic Dynamics publishes compared to the ECB process. theoretical, empirical or quantitative A World Without Walls research of the highest standard. Papers are Freedom, Development, Free Trade and Political Economy of Institutions and Decisions Global Governance 2003 228 x 152 mm 289pp 14 line diagrams welcomed from all areas of Mike Moore 31 tables macroeconomics and from all parts of the 0 521 82333 1 Hardback c. £40.00 Former Director-General of the World Trade Publication October 2003 world. Major advances in macroeconomics Organization without immediate policy applications will Textbook also be accepted, if they show potential for Modeling Monetary Economies application in the future. Occasional book Second edition reviews, software reviews, announcements, Bruce Champ conference proceedings, special issues, Federal Reserve Bank, Cleveland interviews, dialogues, and surveys are also and Scott Freeman published. An electronic version of the University of Texas, Austin journal is published simultaneously with the paper version, enabling immediate Uniquely among monetary textbooks, this access to the best current research in text teaches monetary economics using a macroeconomics. simple model based on standard Subscriptions microeconomics. The model is clearly and Volume 7 in 2003: February, April, June, explicitly specified so that students see and September and November participate in discovering the implications Institutions print and electronic: £168/$260 Institutions electronic only: £150/$235 of the model for monetary questions. Individuals print plus electronic: £68/$105 Contents: Preface; Part I. Money: 1. A Students: £30/$48 simple model of money; 2. Barter and Econometric Society, Society for Nonlinear Dynamics and Econometrics, Society for Computational Mike Moore’s reflection on his time as commodity money; 3. Inflation; Economics, Society for the Promotion of Economic Director-General of the World Trade 4. International monetary systems; 5. Price Theory, Society for the Advancement of Economic Theory (print and electronic): £40/$63 Organization is an important addition surprises; Part II. Banking: 6. Capital; to the great globalization debate. Moore 7. Liquidity and financial intermediation; Print ISSN 1365-1005 Electronic ISSN 1469-8056 explains how a boy, who left school at 8. Central banking and the money supply; fourteen to work in a slaughterhouse, 9. Money stock fluctuations; 10. Fully came to head an organization charged backed central bank money; 11. The with bringing rules and order to the payments system; 12. Bank risk; Part III. world’s trading system. Arriving at the Government Debt: 13. Deficits and the WTO shortly before the ill-fated Seattle national debt; 14. Savings and investment; meeting, Moore sought to reform the 15. The effect of the National Debt on Organization, addressing the concerns capital and savings; 16.The temptation of of poorer countries and engaging in inflation; References; Index. open debate with the often hostile 2001 253 x 177 mm 344pp 79 line diagrams 13 tables NGOs. He is proud of the outcome of 0 521 78354 2 Hardback £45.00 the Doha meeting in November 2001 0 521 78974 5 Paperback £16.95 which secured commitment to a new round of trade talks with a focus on The Methodology of Empirical development. Moore rebuts the attacks Macroeconomics against the WTO arguing that the Kevin D. Hoover WTO’s promise of rules-based free trade University of California, Davis offers the best hope for lifting millions Economic methodology typically focuses of the world’s poorest citizens out of on microeconomic theory. The Methodology poverty. of Empirical Macroeconomics breaks new Advance praise: ground by focusing instead on the genuine problems that arise for macroeconomists ‘Mike Moore makes a strong case for trying to relate theory to data. the benefits of free trade and open 2001 228 x 152 mm 198pp 23 line diagrams markets. But he warns that global 0 521 80272 5 Hardback £40.00 governance needs to be rethought to 0 521 00321 0 Paperback £14.95 cope with the challenges of globalization. A wide ranging and thought-provoking book.’ George Soros, author of George Soros on Globalization

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‘Mike Moore is that rare politician: a New chaebols’ investment activities. The intricate web of cross-shareholding, debt doer who is also a thinker. He pulled off China and the World Trading Doha, putting the bumbling failure of guarantees, and vertical integration resulted System in extensive cross-subsidization and kept Seattle behind us. In this fascinating Entering the New Millennium book, he demonstrates that he can also chaebols from shedding unprofitable Edited by Deborah Z. Cass businesses. The government’s continued speak to intellectuals, placing trade London School of Economics and Political Science liberalization, indeed globalization, into interventions in banks’ lending practices Brett G. Williams created ‘moral hazards’ for both chaebols an ambitious but realistic framework University of Sydney that can serve as an effective antidote to and banks. This treatment demonstrates and George Barker how the structure of chaebols later the anti-globalizers. And he does it Australian National University, Canberra elegantly and articulately. New Zealand inhibited other adaptations and for all has two great voices: Kiri Te Kanawa practical purposes became nearly and Mike Moore.’ dysfunctional. The book argues that Jagdish Bhagwati, Columbia University restructuring of chaebols should focus on and author of Free Trade Today improving corporate governance systems. After such restructuring, the author ‘Mike, a man essentially educated by the predicts, chaebols will reemerge as stronger, brute force of real-life challenges, has more focused global players. produced in this book an honest 2003 228 x 152 mm 360pp 38 line diagrams 1 half-tone 24 tables account of his very fine tenure as WTO 0 521 81435 9 Hardback c. £50.00 Director-General. Those curious about Publication February 2003 either the evolution of the multilateral trading system, or interesting leaders, New will find this book very enjoyable.’ Globalization and the Poor Ernesto Zedillo, Former President of Jay R. Mandle Mexico Colgate University, New York Contents: 1. Introduction: The making The argument the author presents is that of an internationalist; Part I. The Bigger China, the world’s tenth largest trading globalization is associated with the Picture: 2. What does globalization economy, has recently joined the rules- economic growth necessary to alleviate mean?; 3. Food for thought; 4. The based international trading system. What poverty. Globalization therefore should be philosophy, politics and economics of are the implications of this accession? encouraged. At the same time, trade and freedom; 5. Life is getting Leading scholars and practitioners from the governments must adopt policies that better; Part II. From Seattle to Doha: US, Europe, China, Australia and Japan address the needs of those who are 6. Setback in Seattle; 7. Why the WTO argue that China’s membership will affect victimized by the dislocations caused by matters; 8. Forging a consensus; the WTO’s decision-making, dispute the process. The book responds to the 9. Denouement at Doha; 10. Creating a resolution and rule-based structures. It will opponents by emphasizing globalization’s ‘World’ Trade Organization; 11. How also spur legal and economic reform, have potential to alleviate poverty, but at the the ‘new’ issues could strengthen the far-reaching social, political and same time is critical of those who defend agenda; 12. Why concluding the new distributional consequences in China, globalization without acknowledging the round is crucial; Part III. Citizens, facilitate a new role for China in costs it imposes on innocent victims. In Corporates and a New Deal for Global international geo-political affairs, and alter addressing the activist opponents of the Governance: 13. Engaging civil society; the shape, structure and content of the process, the author maintains that they 14. Corporate social responsibility; international trading system as a whole. Of should not reject the global integration of 15. Time to rethink global governance; interest to scholars of China, as well as world markets because of a concern for 16. Future challenges. trade lawyers and economists. justice. Instead activists can advance the 2003 228 x 152 mm 302pp 15 half-tones 2003 228 x 152 mm 440pp 20 tables 3 figures interests of the world’s poor by mounting 6 tables 5 graphs 0 521 81821 4 Hardback c. £55.00 political movements to advance 0 521 82701 9 Hardback £20.00 Publication March 2003 international agreements to stabilize the Publication February 2003 New world economy and ensure labor rights. 2003 228 x 152 mm 168pp 14 tables Financial Crisis and Transformation 0 521 81504 5 Hardback £32.50 of Korean Business Groups Publication March 2003 The Rise and Fall of Chaebols Forthcoming Sea-Jin Chang Korea University, Seoul The International Monetary Fund Sea-Jin Chang argues that the Korean and its Critics financial crisis of 1997 was due to the Edited by Christopher Gilbert inertia of both the business groups known Universiteit van Amsterdam as chaebols and the Korean government and David Vines which prevented adaptation to changing University of Oxford external environments. Once the Korean Written by leading economists including government stopped central economic Nobel laureate Joseph Stiglitz, this planning and pursued economic collection combines rigorous economic liberalization in the 1980s, the transition analysis with insider perspectives on key created a void under which neither the policy debates surrounding the future of government nor markets could monitor the International Monetary Fund. As the International Economics 19 role of the IMF and the ‘Washington New global financial architecture and the policy Consensus’ have come under intense options of public and private authorities at scrutiny this collection offers a valuable Options for Global Trade Reform national, regional and transnational levels. wide-ranging overview of the debate, A View from the Asia-Pacific This volume moves beyond analysis of the making it an essential reference for anyone Edited by Will Martin causes and consequences of recent financial interested in the role of international World Bank crises and concentrates on issues of policy. financial institutions in our globalised and Mari Pangestu Written by distinguished scholars, it economy. World Bank focuses on the growing tension between Global Economic Institutions, 5 global market structures and national 2003 228 x 152 mm 300pp policy imperatives. Accessible to both 0 521 82154 1 Hardback c. £50.00 specialists and general readers, the analysis Publication June 2003 is coherent across a broad range of New theoretical and empirical cases. Offering a series of reasoned policy responses to The IMF and Economic financial integration and crises, the volume Development grapples directly with the institutional and James R. Vreeland often-neglected normative dimensions of Yale University, Connecticut international financial architecture. The Why do governments turn to the volume thus constitutes required reading International Monetary Fund (IMF) and for scholars and policy-makers. with what effects? This book argues that Global Economic Institutions, 4 governments enter IMF programs for 2003 228 x 152 mm 478pp 5 line diagrams economic and political reasons, and finds 14 tables 0 521 81732 3 Hardback c. £60.00 that the effects are negative on economic Publication February 2003 growth and income distribution. By Despite the decision of the WTO members bringing in the IMF, governments gain New to launch a new round of negotiations at political leverage – via conditionality – to their Doha Ministerial in November 2001, Economic Crisis and Corporate push through unpopular policies. Note that developing countries continue to have very Restructuring in Korea if governments desiring conditions are real concerns on a number of key issues. Reforming the Chaebol more likely to participate, estimating The successful completion of the Doha Edited by Stephan Haggard program effects is not straightforward: one trade round and the realisation of the goals University of California, San Diego must control for the potentially unobserved of its Development Agenda represent a Wonhyuk Lim political determinants of selection. This major challenge for both the developed and Korea Institute of Energy and Research book addresses the selection problem using the developing world. The primary aim of and Euysung Kim a dynamic bivariate version of the this volume is to improve understanding of Yonsei University, Seoul Heckman model analyzing cross-national the issues, the objectives of policy and the time-series data. The main finding is that Asian business conglomerates have clearly options for trade policy reform particularly the negative effects of IMF programs on been successful agents of growth, as they impact on the Asia-Pacific region. A economic growth are mitigated for certain mobilizing capital, borrowing technology team of authors from developing and constituencies since programs also have from abroad, and spearheading Asia’s developed countries in the Asia-Pacific distributional consequences. But IMF exports. However, these firms have long identify ways in which progress might be programs doubly hurt the least well off in had a number of organizational and made on the key negotiating topics, society: they lower growth and shift the financial weaknesses, including heavy including market access and related issues income distribution upward. reliance on debt, that make them 2003 228 x 152 mm 216pp 37 line diagrams in agriculture, non-agriculture merchandise vulnerable to shocks. Nowhere was this 24 tables and in trade in services. more true than in Korea, where the large 0 521 81675 0 Hardback c. £45.00 Trade and Development corporate groups known as chaebol have 0 521 01695 9 Paperback c. £16.95 2003 228 x 152 mm 360pp 7 line diagrams dominated the economic landscape. This Publication February 2003 33 tables collection of essays by leading political 0 521 82124 X Hardback c. £45.00 Publication March 2003 scientists and economists provides a comprehensive look at the chaebol problem New in the wake of the Asian financial crisis. International Financial The authors consider the historical Governance under Stress evolution of the chaebol and their contribution to the onset of economic Global Structures versus National Imperatives turmoil in 1997. The book analyzes the Edited by Geoffrey R. D. Underhill government’s short-run response to Universiteit van Amsterdam corporate and financial distress, and and Xiaoke Zhang outlines an agenda for longer-term reform Universiteit van Amsterdam of the financial system, corporate governance and the politics of business- Persistent episodes of global financial crises government relations. have placed the existing system of international monetary and financial Cambridge Asia-Pacific Studies 2003 228 x 152 mm 360pp 20 line diagrams governance under stress. The resulting 78 tables 20 figures economic turmoil provides a focal point for 0 521 82363 3 Hardback c. £45.00 rethinking the norms and institutions of Publication March 2003

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Financial Liberalization Advance praise: The Political Economy of How Far, How Fast? ‘This first-rate collection of essays is a International Trade Law Edited by Gerard Caprio clear indication of the very high Essays in Honor of Robert E. Hudec The World Bank reputation Assaf Razin enjoys in our Edited by Daniel L. M. Kennedy Patrick Honohan profession. Written by top experts in the University of Minnesota The World Bank field, the contributions included in this and James D. Southwick and Joseph E. Stiglitz book are both extremely topical and University of Minnesota Columbia University, New York based on frontier research methods. They provide a wealth of insights on a very wide range of important policy issues.’ Mathias Dewatripont, Université Libre de Bruxelles and Centre for Economic Policy Research, London

2003 228 x 152 mm 480pp 41 line diagrams 43 tables 0 521 81519 3 Hardback £55.00 Publication January 2003 Labor, Capital, and Finance International Flows Assaf Razin Tel-Aviv University and Cornell University, New York and Efraim Sadka Tel-Aviv University Experts from law, economics, and political This volume addresses one of the most This book fills a gap in the literature by science provide in-depth analysis of topical and controversial issues in banking combining elements from seemingly international trade issues. Contributors and financial policy. It explains why disjointed parts of economics and presents consider WTO legal institutions as governments have felt the need to liberalize them in a consistent analytical framework. functioning in unexpected ways due to the banking and finance, for example, by It lays the groundwork for the integration political and economic conditions of their privatizing banks and allowing interest of capital, labor, and finance into a unified international environment. This is an rates to be set by the market. treatment of globalization. essential volume for professionals and Professor Joseph E. Stiglitz is the winner of 2001 228 x 152 mm 194pp 30 line diagrams academics involved with international trade 20 tables policy. the 2001 Nobel Prize for Economics. 0 521 78074 8 Hardback £37.50 2002 228 x 152 mm 710pp 2001 228 x 152 mm 318pp 48 line diagrams 0 521 78557 X Paperback £13.95 63 tables 0 521 81319 0 Hardback £80.00 0 521 80369 1 Hardback £37.50 Evolving Financial Markets and Tariff Negotiations and New International Capital Flows Renegotiations under the GATT Economic Policy in the Britain, the Americas, and Australia, 1865–1914 and the WTO International Economy Procedures and Practices Lance E. Davis Essays in Honor of Assaf Razin California Institute of Technology Anwarul Hoda Edited by Elhanan Helpman Indian Council for Research in International Economic and Robert E. Gallman Harvard University, Massachusetts and Tel-Aviv Relations, New Delhi University of North Carolina University The procedures and practices to implement and Efraim Sadka This study examines the impact of British the provisions relating to tariff negotiations Tel-Aviv University capital flows on the evolution of capital and renegotiations have evolved This book contains fifteen major essays on markets in Argentina, Australia, Canada, considerably since the GATT was international economics. The authors and the United States over the years 1870 established in 1947. The provisions investigate five principal themes: theory, to 1914. It contrasts the experiences of the themselves have undergone some changes and empirics, of financial issues in open frontier countries and provides historical in the last fifty-four years. Professor Hoda economies; economic growth; public insights into current economic problems in reviews the evolution of these provisions, economies; and political economy. Written Asia and Latin America. and offers some conclusions and to honor Professor Assaf Razin of Tel Aviv Japan-US Center Sanwa Monographs on recommendations. International Financial Markets, 3 and Cornell Universities on the occasion of 2001 228 x 152 mm 312pp 2001 228 x 152 mm 994pp 180 tables 0 521 80449 3 Hardback £47.50 his sixtieth birthday, the essays pay close 0 521 55352 0 Hardback £75.00 attention to policy issues as well as formal analysis. The contributors include renowned specialists in international economics based in North America, Europe, Israel, and China. This volume of cutting edge research will be of interest to scholars, policy makers, and advanced students alike. Financial Economics 21

The Jurisprudence of GATT and the discusses related tools of stochastic calculus Financial Economics such as Kolmogorov equations, martingales WTO techniques, stochastic control, and partial Insights on Treaty Law and Economic Forthcoming Relations differential equations. Asymmetric Information in John H. Jackson Contents: 1. Introduction; 2. Preliminary Georgetown University, Washington DC Financial Markets mathematics; 3. Principles of financial Introduction and Applications This book contains a selection of essays valuation; 4. Interest rate models; 5. Ricardo Bebczuk and articles by John H. Jackson previously Mathematics of asset pricing; 6. Bibliography. Universidad Nacional de La Plata 2003 228 x 152 mm 275pp 67 line diagrams published over four decades and now 8 tables collected together into one volume. Each Asymmetric information (the fact that 0 521 81510 X Hardback c. £25.00 article has been selected for its continued borrowers have better information than Publication May 2003 timeliness and relevance to contemporary their lenders) and its theoretical and Textbook issues in international trade. An practical evidence now forms part of the indispensable addition to every basic tool kit of every financial economist. Principles of Financial international trade library. It is a phenomenon that has major Economics 2000 228 x 152 mm 512pp implications for a number of economic and Stephen F. LeRoy 0 521 62056 2 Hardback £60.00 financial issues ranging from both micro University of California, Santa Barbara and macroeconomic level – corporate debt, New and Jan Werner investment and dividend policies, the University of Minnesota WTO Agreements on CD-ROM depth and duration of business cycles, the Issue 1 rate of long term economic growth – to the ‘This is an excellent introduction to the The Legal Texts (English, French and Spanish) origin of financial and international crises. exciting field of financial economics, and Schedules: Services (English only) Asymmetric Information in Financial rigorous yet filled with economic World Trade Organization Markets aims to explain this concept in an intuition, and with a refreshing accessible way, without jargon and by emphasis on equilibrium that is This CD-ROM database contains the fully reducing mathematical complexity. Using reminiscent of Debreu’s elegant and updated WTO services and schedules of elementary algebra and statistics, graphs, pithy monograph.’ services commitments and/or MFN and convincing real-world evidence, the Andrew Lo, Massachusetts Institute of exemptions for WTO member countries in author explores the foundations of the Technology English, plus the Legal Texts in English, problems posed by asymmetries of French and Spanish. This material has information in a refreshingly accessible and Contents: Part I. Equilibrium and never been available in one source before: intuitive way. Arbitrage: 1. General equilibrium in much has been unavailable in any form. 2003 228 x 152 mm 210pp 8 line diagrams security markets; 2. Linear pricing; World Trade Organization Schedules, 1 17 tables 18 graphs 3. Arbitrage and positive pricing; 2002 CD-ROM 0 521 79342 4 Hardback c. £47.50 4. Portfolio restrictions; Part II. 0 521 79645 8 CD-ROM £350.00 0 521 79732 2 Paperback c. £17.95 Publication July 2003 Valuation: 5. Valuation; 6. State prices Journal and risk-neutral probabilities; Forthcoming Textbook 7. Valuation under portfolio restrictions; World Trade Review Financial Derivatives Part III. Risk: 8. Expected utility; Editor-in-Chief: Richard Blackhurst Pricing, Applications, and Mathematics 9. Risk aversion; 10. Risk; Part IV. Graduate Institute of International Studies, Geneva Jamil Baz Optimal Portfolios: 11. Optimal The World Trade Review has been established Deutsche Bank, London portfolios with one risky security; at the initiative of the World Trade and George Chacko 12. Comparative statics of optimal Organization (WTO) in close cooperation Harvard Business School portfolios; 13. Optimal portfolios with with Cambridge University Press. It is an several risky securities; Part V. This book offers a complete, succinct independent journal – the Editor and all but Equilibrium Prices and Allocations: account of the principles of financial one of the Editorial Board are drawn from 14. Consumption-based security derivatives pricing. The first chapter university faculties – that includes articles pricing; 15. Complete markets and provides readers with an intuitive exposition written from economic, legal and inter- Pareto-optimal allocations of risk; of basic random calculus. Concepts such as disciplinary perspectives on issues of 16. Optimality in incomplete security volatility and time, random walks, relevance to the multilateral trading system. markets; Part VI. Mean-Variance geometric Brownian motion, and Ito’s Priority is given to papers that, along with Models: 17. The expectations and lemma are discussed heuristically. The being academically rigorous, are also pricing kernels; 18. The mean-variance second chapter develops generic pricing accessible to government policy officials and frontier payoffs; 19. CAPM; 20. Factor techniques for assets and derivatives, the wider public. The journal also includes pricing; Part VII. Multidate Models: determining the notion of a stochastic shorter articles seeking to rebut or challenge 21. A multidate model of security discount factor or pricing kernel, and then published papers. markets; 22. Multidate arbitrage and uses this concept to price conventional and Subscriptions positivity; 23. Dynamically complete exotic derivatives. The third chapter applies Volume 2 in 2003: April, August and markets; 24. Valuation; 25. Event the pricing concepts to the special case of December process, risk-neutral probabilities and Institutions print and electronic: £120/$200 interest rate markets, namely, bonds and the pricing kernel; 26. Security gains as Institutions electronic only: £114/$190 swaps, and discusses factor models and term Individuals print only: £32/$48 martingales; 27. Consumption-based structure consistent models. The fourth Individuals in low-income countries: £32 security pricing; 28. The frontier payoffs American Economic Association, European Economic chapter deals with a variety of mathematical and the CAPM. Association: £25/$40 topics that underlie derivatives pricing and American Political Science Association, American 2001 253 x 177 mm 300pp 19 line diagrams Historical Association: £25/$38 portfolio allocation decisions such as mean- 0 521 58434 5 Hardback £47.50 Print ISSN 1474-7456 reverting processes and jump processes and 0 521 58605 4 Paperback £17.95 Electronic ISSN 1475-3138

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Textbook Contents: Preface; Part I. Introduction: alternatives to majority rule; 9. Exit, 1. Economic perspectives; Part II. Media- A Course in Financial Calculus voice, and disloyalty; Part III. Public Dependent Entertainment: 2. Movie Choice in a Representative Democracy: Alison Etheridge macroeconomics; 3. Making and marketing University of Oxford 10. Federalism; 11. Two-party movies; 4. Financial accounting in movies competition – deterministic voting; and television; 5. Music; 6. Broadcasting; 12. Two-party competition – 7. Cable; 8. Internet; 9. Publishing; probabilistic voting; 13. Multiparty 10. Toys and games; Part III. Live systems; 14. The paradox of voting; Entertainment: 11. Gaming and wagering; 15. Rent seeking; 16. Bureaucracy; 12. Sports; 13. Performing arts and culture; 17. Legislatures and bureaucracies; 14. Amusement/theme parks; Part IV. 18. Dictatorship; Part IV. Applications Roundup: Notes; Appendix; and Testing: 19. Political competition Supplementary data; Glossary; References; and macroeconomic performance; Index. 20. Interest groups, campaign 2001 234 x 156 mm 597pp 112 line diagrams 122 tables contributions, and lobbying; 21. The 0 521 79264 9 Hardback £32.50 size of government; 22. Government size and economic performance; Part V. Normative public choice: 23. Social Public Economics welfare functions; 24. The impossibility of a social ordering; 25. A just social and Political contract; 26. The constitution as a Inspired by Baxter and Rennie’s Financial Economy utilitarian contract; 27. Liberal rights Calculus, this self-contained text is designed and social choices; Part VI. What Have We Learned?: 28. Has public choice for first courses on the subject. Key Textbook concepts are introduced in the discrete contributed anything to the study of New third edition time framework. A valuable feature is the politics?; 29. Allocation, redistribution, and public choice. large number of exercises and examples. Public Choice III Contents: Preface; 1. Single period models; Third edition Advance praise: 2. Binomial trees and discrete parameter Dennis C. Mueller ‘Like all the others, this volume will martingales; 3. Brownian motion; Universität Wien, Austria become the first point of reference – the 4. Stochastic calculus; 5. The Black-Scholes This book represents a considerable ‘bible’ – for all scholars in the field, model; 6. Different payoffs; 7. Bigger revision and expansion of Public Choice both the experts and the more casual models; Bibliography and further reading; II (1989). Six new chapters have been samplers. It represents an amazing Notation; Index. added, and several chapters from the effort, even more extraordinary than the 2002 228 x 152 mm 204pp 138 exercises 14 figures previous edition have been extensively earlier versions. The profession is deeply 0 521 81385 9 Hardback £60.00 revised. The discussion of empirical in Mueller’s debt.’ 0 521 89077 2 Paperback £21.95 work in public choice has been greatly Geoffrey Brennan, expanded. As in the previous editions, Australian National University Risk Management all of the major topics of public choice Value at Risk and Beyond are covered. These include: why the ‘Dennis Mueller’s book is certainly the Edited by M. A. H. Dempster state exists, voting rules, federalism, the most comprehensive and elegantly University of Cambridge theory of clubs, two-party and presented discourse on nearly a half Some of the leading figures in risk multiparty electoral systems, rent century of research on public choice and management examine the complex issues seeking, bureaucracy, interest groups, ought to be required reading for any governing the stability of the global dictatorship, the size of government, student of political science, if not social financial system. Chapters present a mix of voter participation, and political science generally. The material covered theory and practice, from axiomatics, business cycles. Normative issues in is virtually exhaustive of the field, and measurement and extreme value theory to public choice are also examined no one who wishes to understand this operational, credit and market risk. including a normative analysis of the important subfield of social science Essential reading for all involved in simple majority rule, Bergson- should avoid consuming all that is financial risk management. Samuelson social welfare functions, the offered here – offered in easily digestible 2002 228 x 152 mm 288pp 63 line diagrams Arrow and Sen impossibility theorems, and entertaining form while benefiting 32 tables Rawls’s social contract theory and the from the insights of one of the key 0 521 78180 9 Hardback £47.50 constitutional political economy of contributors to the field.’ Buchanan and Tullock. Peter Ordeshook, Entertainment Industry Economics California Institute of Technology A Guide for Financial Analysis Contents: 1. Introduction; Part I. Fifth edition Origins of the State: 2. The reason for 2003 228 x 152 mm 792pp 120 line diagrams Harold L. Vogel collective choice – allocative efficiency; 75 tables 3. The reason for collective choice – 0 521 81546 0 Hardback c. £80.00 0 521 89475 1 Paperback c. £29.95 ‘From the death of vinyl to the rise of redistribution; Part II. Public Choice in Publication March 2003 cable, Vogel has ferried investors a Direct Democracy: 4. The choice of through some major show business voting rule; 5. Majority rule – positive crises.’ properties; 6. Majority rule – normative Matthew Benz, Billboard properties; 7. Simple alternatives to majority rule; 8. Complicated Public Economics and Political Economy 23

Forthcoming 7.4 Discussion; Questions; 8. Renewable standard debt contract; 22.3 Efficiency common property resources: 8.1 The static wages; Questions; Part VII. Asymmetric Textbook common property problem; 8.2 The information and income redistribution: A Course in Public Economics dynamic common property problem; 23. The distribution of income: 8.3 Extinction; Appendix: an elgbraic 23.1 Determinants of income; John Leach example; Questions; 9. Co-ordination 23.2 Income and welfare; 23.3 Reasons for McMaster University, Ontario failures: 9.1 A co-ordination game; 9.2 A income redistribution; 23.4 Policy options; A Course in Public Economics explores co-ordination game with uncertainty; Questions; 24. The limits to income the central questions of whether or not 9.3 Conclusions; Questions; Part III. redistribution: 24.1 An economy with self- markets work, and if not, what is to be Public goods: 10. Pure public goods: selection; 24.2 Redistributive policies; done about it. The first part of the 10.1 Optimal provision of a public good; 24.3 Welfare and pareto efficient taxation; textbook, designed for upper-level 10.2 Voluntary provision of the public 24.4 Conclusions; Questions; undergraduates and first-year graduate good; 10.3 Is non-excludability the source 25. Redistributing income through tagging students, begins with an extended of the problem?; 10.4 Conclusions; and targeting: 25.1 Tagging; discussion of the two theorems of Questions; 11. Two examples of pure 25.2 Targeting; 25.3 Conclusions; welfare economics. These theorems public goods: 11.1 Knowledge; Questions; 26. The role of government in a show that competitive markets can give 11.2 Income redistribution; Questions; market economy: 26.1 Repair of market rise to socially desirable outcomes, and 12. Impure public goods: 12.1 Club goods; failures; 26.2 Redistribution of income; describe the conditions under which 12.2 Variable-use public goods; 26.3 The limits of government action. they do so. The second part of the book 12.3 Summary; Questions; 13. The link 2003 228 x 152 mm 550pp 59 line diagrams discusses the kinds of market failure – between public goods and externalities: 3 tables externalities, public goods, imperfect 0 521 82877 5 Hardback c. £75.00 13.1 Independent preferences; 0 521 53567 0 Paperback c. £27.95 competition and asymmetric 13.2 Indifference curves; 13.3 Pareto Publication December 2003 information – that arise when these optimal allocations; 13.4 A public good; conditions are not met. The role of the 13.5 A good with a positive externality; Forthcoming Textbook government in resolving market failures 13.6 A good with a negative externality; Public Finance and Public Policy is examined. The limits of government 13.7 Summary; Questions; Part IV. Responsibilities and Limitations of action, especially those arising from Imperfect competition: 14. Monopoly: Government asymmetric information, are also 14.1 Natural monopoly; 14.2 Rent-seeking Arye L. Hillman investigated. A knowledge of behavior; 14.3 Conclusions; Questions; Bar-Ilan University, Israel intermediate microeconomics and basic 15. Pricing rules under imperfect This textbook systematically sets forth calculus is assumed. competition: 15.1 Marginal cost pricing; the basic issues involved in public 15.2 Undifferentiated goods; Contents: 1. Introduction: 1.1 Two finance and public policy. All issues 15.3 Differentiated goods; 15.4 Summary; theorems; 1.2 Market failure; investigated explore the choice between Appendix: marginal cost pricing and 1.3 Information and the second theorem; voluntary market decision to earn and economic efficiency; Questions; Part V. 1.4 The usefulness of the two theorems; spend income versus assignment of Taxation and efficiency: 16. Taxation: 1.5 The role of the government; Part I. responsibility to governments to tax and 16.1 Is lump sum taxation possible?; Markets: 2. The exchange economy: spend. Areas covered are markets and 16.2 The optimal size of government; 2.1 The Edgeworth box; 2.2 Pareto property, collective benefits, voting on 16.3 Conclusions; Questions; 17. The optimality; 2.3 Competitive equilibrium; public speaking, market corrections, welfare cost of tax interactions: 17.1 A 2.4 Markets; 2.5 The two fundamental social justice, political processes and Robinson Crusoe economy; 17.2 Pareto theorems of welfare economics; redistribution, taxation, user pricing, optimality; 17.3 Competitive equilibrium; 2.6 Summary; Questions; 3. An algebraic public policy for welfare issues, and the 17.4 Welfare cost calculations; exchange economy: 3.1 Utility functions; question of how much government is 17.5 Conclusions; Questions; 18. The 3.2 The marginal rate of substitution; needed in the modern state. It is theory of the second best: 18.1 Optimal 3.3 Pareto optimal allocations; designed for courses in public finance or taxation; 18.2 Natural monopoly and the 3.4 Competitive equilibrium; 3.5 The two public economics, with additions given Ramsey pricing rule; 18.3 Conclusions; theorems; 3.6 Conclusions; Questions; in courses titled political economy. The Questions; Part VI. Asymmetric 4. The production economy: 4.1 Pareto basic material in each chapter may be information and efficiency: 19. Asymmetric economy; 4.2 Competitive equilibrium; used by students with an elementary information: 19.1 Adverse selection; 4.3 An example of competitive understanding of economics. All 19.2 Moral hazard; Questions; 20. equilibrium; 4.4 The two theorems; chapters provide useful question sets Preference revelation: 20.1 Preference 4.5 Conclusions; Appendix: an example of and guidance for further reading. revelation in a simple economy; 20.2 The production efficiency; Questions: Contents: 1. Markets and property; Groves-Clarke mechanism; 20.3 Preference 5. Consumer and producer surplus; 2. Collective benefits; 3. Voting and revelation in practice; Questions; 5.1 Margins and totals; 5.2 Surplus; public goods; 4. Market corrections; 21. Regulation of a natural monopoly: 5.3 The welfare cost of intervention; 5. Social insurance and social justice; 21.1 Natural monopoly with a role for 5.4 Market interactions; 5.5 Conclusions; 6. Politics and redistribution; management; 21.2 Full information; Appendix: margind and totals; Questions; 7. Taxation; 8. User pricing; 9. Health, 21.3 The consequences of asymmetric Part II. Externalities: 6. Externalities and education, and retirement; 10. How information; 21.4 Adjusting the menu; negotiation: 6.1 Negotiated compensation; much government? 21.5 Conclusions; Appendix: optimal 6.2 Why doesn’t negotiation occur?; 2003 253 x 177 mm 800pp 136 line diagrams regulation under asymmetric information; 6.3 Government intervention; Questions; 42 tables Questions; 22. Other examples of 0 521 80641 0 Hardback c. £75.00 7. Permit trading: 7.1 Environmental asymmetric information: 22.1 Health care 0 521 00114 5 Paperback c. £30.00 pollution abatement; 7.2 Direct emissions Publication July 2003 and health care insurance; 22.2 The controls; 7.3 Permit trading;

Visit our website at www.cambridge.org 24 Public Economics and Political Economy

New Forthcoming New The Shadow Economy Financing Human Capital Moving Money An International Survey A Capital Markets Approach to Student Banking and Finance in the Industrialized Friedrich Schneider Funding World Johannes Kepler Universität Linz Miguel Palacios Daniel Verdier and Dominik H. Enste University of Virginia European University Institute, Florence Gerling Insurance Company, Cologne Foreword by Nicholas Barr Illicit work, social security fraud, economic London School of Economics and Political Science crime and other shadow economy activities Most higher education finance literature are fast becoming an international assumes that students cannot pledge their problem. Friedrich Schneider and Dominik future earnings to finance their education H. Enste use currency demand, physical in a free society. Financing Human Capital input (electricity) method, and the model challenges that assumption and explores approach, to estimate the size of the human capital contracts as an alternative shadow economy in 76 developing, mechanism for financing higher education. transition and OECD-countries. They Financing Human Capital tracks the roots argue that during the 1990s the average of the idea behind human capital contracts, size of a shadow economy varied from 12% discusses the beneficial consequences they of GDP for OECD, to 23% for transition would have on students and on higher and to 39% for developing countries. They education markets, and describes how they examine the causes and consequences of can develop in light of the innovations that this development using an integrated have taken place in financial markets approach explaining deviant behaviour, during the last decades. The book also which combines the findings of economic, explores the challenges – ethical and Moving Money analyses the influence of sociological and psychological research. The financial – that such instruments face and politics on financial systems. Daniel Verdier authors suggest that increasing taxation, offers implementation alternatives that can examines how information asymmetry and social security contributions, rising state bring about their existence in the context economies of scale over time have created a regulatory activities and the decline of the of a national higher education financing redistributional conflict between large and tax morale, are all driving forces behind program. small banks, financial centres and their this growth, especially in OECD-countries. 2003 216 x 138 mm 200pp peripheries, and he discusses how 0 521 82840 6 Hardback c. £25.00 governments have attempted to arbitrate They propose a reform of state institutions Publication September 2003 to improve the dynamics of the official this conflict. He argues that centralized economy. states have tended to create concentrated, Forced Saving internationalized, market-based and Mandating Private Retirement Incomes Advance praise: specialized financial systems, whereas Hazel Bateman decentralized states have favoured ‘The authors discuss in great depth the University of New South Wales, Sydney various approaches to measuring a dispersed, national, bank-based and, with a Geoffrey Kingston few exceptions, universal systems. Verdier phenomenon which at first seems to University of New South Wales, Sydney evade observation. Most importantly, then sets out to uncover the sources, and John Piggott political and economic, of cross-country they provide the best existing survey of University of New South Wales, Sydney the size and causes of the shadow variation in financial market organization, The rapid ageing of the world’s populations examining 15 to 20 OECD countries from economy. This will be, without a has seen a level of anxiety and urgency by shadow of doubt, the standard 1850 onwards. governments around the world to set up or 2002 228 x 152 mm 328pp 35 line diagrams treatment of the subject for many years overhaul their mandatory pension policies. 23 tables to come.’ This analysis compares and contrasts the 0 521 81413 8 Hardback c. £47.50 Bruno S. Frey, Professor Economics, 0 521 89112 4 Paperback c. £17.95 policies of countries around the globe, with Publication December 2002 University of Zurich, and Professorial tables, graphs and charts to summarise Fellow at the Netherlands Institute of findings. Advanced Study 2001 228 x 152 mm 268pp 28 line diagrams 48 tables 2003 228 x 152 mm 274pp 27 line diagrams 0 521 48162 7 Hardback £47.50 28 tables 0 521 48471 5 Paperback £17.95 0 521 81408 1 Hardback c. £40.00 Publication February 2003 Public Economics and Political Economy 25

Forthcoming New sober, and realistic. He is skeptical about Alternatives for Welfare Policy Forces of Labor ‘futurology’ and makes ample use of Reconciling Policy Goals with Demographic Workers’ Movements and Globalization numerous forecasts made in days gone Change and Internationalisation Since 1870 by to demonstrate how wrong they Edited by Torben M. Andersen Beverly J. Silver were. Within this cautiously constrained Aarhus Universitet, Denmark framework, he rejects what he regards as Analyzes the global dynamics of labor extreme views, such as the ‘end of and Per Molander movements, introducing a major new Studieförbundet Näringsliv och Samhälle history’ (i.e. unchanging US capitalism) database on labor unrest events worldwide or the ‘end of capitalism’ and seeks An authoritative and comprehensive survey from 1870 to 1996. Its purpose is to assess of key issues for welfare policy in an age of rather to outline the most probable the contemporary crisis of labor changes within an American capitalist globalisation and ageing populations. In movements, but it argues that labor this collection, which draws on economy, which is still quite movements need to be studied in a longer recognizable as a descendant from the comparative OECD data and uses case historical and wider geographical studies from Scandinavia, the authors offer present system. The book is superior to framework. any other recent publication of which I a rigorous analysis of the main challenges Cambridge Studies in Comparative Politics to the traditional public sector welfare state am aware.’ 2003 228 x 152 mm 232pp 8 line diagrams Chris Freeman, Emeritus, Science Policy and explore the principal policy options 5 tables open to governments in advanced 0 521 81751 X Hardback c. £45.00 Research Unit, University of Sussex economies, assessing the advantages and 0 521 52077 0 Paperback c. £16.95 Publication May 2003 2002 228 x 152 mm 462pp 16 line diagrams disadvantages of alternative welfare regimes 29 tables 0 521 81358 1 Hardback £30.00 with less reliance on public sector United States Tax Reform in the involvement. 21st Century 2003 228 x 152 mm 320pp A Theory of the State 0 521 81406 5 Hardback c. £45.00 Edited by George R. Zodrow Economic Rights, Legal Rights, and the Publication July 2003 Rice University, Houston Scope of the State and Peter Mieszkowski Yoram Barzel Forthcoming Rice University, Houston University of Washington Designing Inclusion This book contains essays written by This book models the emergence of the Tools to Raise Low-end Pay and Employment internationally recognized tax experts who state, and the forces that shape it. State in Private Enterprise describe the economic thinking on the creation is bound to protection needs. A Edited by Edmund S. Phelps issue of whether fundamental tax reform is specialized protector-ruler is efficient, but is Columbia University, New York preferable to continued incremental reform also self-seeking. Individuals will install a An inclusion failure has become highly of the existing income tax. This collection ruler only after they create a mechanism to visible in the advanced economies of the covers a wide range of tax policy issues comtrol him. West. Too many able-bodied people are related to consumption tax reforms. Political Economy of Institutions and Decisions subject to chronic joblessness and, when 2002 228 x 152 mm 358pp 21 line diagrams 2002 228 x 152 mm 304pp employed, cannot earn a living remotely 18 tables 0 521 80605 4 Hardback £40.00 like that in the mainstream of the 0 521 80383 7 Hardback £50.00 0 521 00064 5 Paperback £14.95 population. One policy response has been to give such workers a range of goods and The Future of the American Labor The Dynamics of Coercion services without charge, another has been Movement American Foreign Policy and the Limits of to single out some groups for tax credits Hoyt N. Wheeler Military Might tied to their earnings. However, many of University of South Carolina Daniel L. Byman RAND the welfare programs actually weaken Coming at a time of profound change in and Matthew C. Waxman people’s incentive to participate in the labor the global conditions under which force and wage-income tax credits appear American organized labor exists, The Future It examines how the United States does, to have made hardly a dent in joblessness. of the American Labor Movement describes and should, use limited military force and This timely volume brings together leading and analyzes labor’s strategic alternatives. other means of influencing adversaries. It economists to present four studies of The analysis is broadly cast, taking into reviews when limited force can, and methods to rebuild self-sufficiency and account ideas that range from the current cannot, work. It examines a range of boosting employment: a graduated European Social Dialogue to the methods current challenges, including those of employment subsidy, a hiring subsidy and of the nineteenth-century American guerrilla groups, minor powers armed with subsidies for training and education. It is of Knights of Labor. nuclear, chemical or biological weapons. interest to anyone with a serious interest in 2002 228 x 152 mm 278pp 3 line diagrams RAND Studies in Policy Analysis 1 table the economics of subsidies to raise 2002 228 x 152 mm 298pp 3 line diagrams 0 521 81533 9 Hardback £47.50 2 tables inclusion. 0 521 89354 2 Paperback £16.95 2003 228 x 152 mm 200pp 24 tables 34 graphs 0 521 80991 6 Hardback £45.00 0 521 81695 5 Hardback c. £45.00 0 521 00780 1 Paperback £15.95 Publication July 2003 The Future of U.S. Capitalism Frederic L. Pryor Swarthmore College, Pennsylvania

‘The book is a stimulating and well- organized version of some probable developments in United States capitalism between now and 2050. The method used by the author is modest,

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Political Extremism and The Divided Welfare State New Rationality The Battle over Public and Private Social Social Choice and the Benefits in the United States Edited by Albert Breton Mathematics of Manipulation Jacob S. Hacker University of Toronto Alan D. Taylor Yale University, Connecticut Gianluigi Galeotti Union College, New York Consiglio Nazionale delle Ricerche (CNR), Rome The Divided Welfare State is the first Learn why it is impossible to devise a Pierre Salmon comprehensive political analysis of reasonable voting system in which voters Université de Bourgogne, France America’s system of public and private can never gain by submitting a and Ronald Wintrobe social benefits. It demonstrates that private disingenuous ballot. Using minimal University of Western Ontario social benefits have not been shaped by prerequisites, Alan Taylor presents The distinguishing feature of this collection public policy, but have deeply influenced the politics of public social programs – to economic, philosophic, and mathematical by well-known economists and political results from the last quarter of the scientists from North America, Europe and produce a social policy framework whose political and social effects are strikingly twentieth century, with many new proofs. Australia is to propose a variety of Outlooks explanations which insist on the rationality different than often assumed. 2002 228 x 152 mm 464pp 15 line diagrams 2003 228 x 152 mm 200pp 3 line diagrams of extremism. Contributors use variants of 19 tables 80 exercises this approach to shed light on subjects. 0 521 81288 7 Hardback £50.00 0 521 81052 3 Hardback c. £47.50 2002 228 x 152 mm 262pp 17 line diagrams 0 521 01328 3 Paperback £18.95 0 521 00883 2 Paperback c. £17.95 3 tables Publication January 2003 0 521 80441 8 Hardback £45.00 Forthcoming Great Transformations Governing from Below Private Power, Public Law Economic Ideas and Institutional Change in Urban Regions and the Global Economy The Globalization of Intellectual Property the Twentieth Century Rights Jefferey M. Sellers Mark Blyth Susan Sell University of Southern California The Johns Hopkins University George Washington University, Washington DC Cities play a growing role in governing. This book picks up where Karl Polanyi’s Susan K. Sell’s book argues that lobbying This role fits within a context that nation- study of economic and political change left by powerful multinational corporations has states, global market forces and cities off. Building upon Polanyi’s conception of moulded international law on intellectual define. The book’s analysis focuses on how the double movement, Blyth analyzes the property rights in order to protect their local efforts in the European systems of two periods of deep seated institutional markets. It is a fascinating study of the France and Germany, as well as American change that characterized the twentieth influence of private interests in government counterparts, have provided for century: the 1930s and the 1970s. Blyth decision-making, and in the shaping of the environmental quality and social inclusion. views both sets of changes as part of the global economy. Cambridge Studies in Comparative Politics same dynamic. In the 1930s labor reacted Cambridge Studies in International Relations, 2002 228 x 152 mm 420pp 33 line diagrams against the exigencies of the market and 88 41 tables 14 maps demanded state action to mitigate the 0 521 65153 0 Hardback £50.00 2003 228 x 152 mm 240pp 11 line diagrams market’s effects by ‘embedding liberalism.’ 0 521 65707 5 Paperback £19.95 2 tables 0 521 81914 8 Hardback c. £40.00 In the 1970s, those who benefited least New 0 521 52539 X Paperback c. £14.95 from such ‘embedding’ institutions, namely Publication May 2003 business, reacted against these constraints States in the Global Economy Forthcoming and sought to overturn that institutional Bringing Domestic Institutions Back In order. Blyth demonstrates the critical role Edited by Linda Weiss Private Power and Global economic ideas played in making University of Sydney Authority institutional change possible. Great General opinion holds that globalisation Transnational Merchant Law in the Global Transformations rethinks the relationship limits the state’s capacity for domestic Political Economy between uncertainty, ideas, and interests, government. This book questions the thesis Claire Cutler achieving profound new insights on how, that the state’s role has been restricted. The University of Victoria, British Columbia and under what conditions, institutional contributors argue that globalisation can Claire Cutler offers a critical analysis of the change takes place. enable as well as constrain, and that its role that international economic law plays 2002 228 x 152 mm 296pp effects depend on the character of a in the creation and maintenance of global 0 521 81176 7 Hardback £40.00 country’s domestic institutions. power relations. By examining the 0 521 01052 7 Paperback £15.95 Cambridge Studies in International Relations, evolution of merchant law she argues that Global Capital, Political 86 private interests have governed global Institutions, and Policy Change in 2003 228 x 152 mm 348pp 12 line diagrams economic relations through a little 11 tables understood evolving legal order. Developed Welfare States 0 521 81913 X Hardback £47.50 Duane Swank 0 521 52538 1 Paperback £17.95 Cambridge Studies in International Relations, Publication January 2003 90 Marquette University, Wisconsin 2003 228 x 152 mm 312pp This book argues that the dramatic post- 0 521 82660 8 Hardback c. £47.50 1970 rise in international capital mobility 0 521 53397 X Paperback c. £17.95 Publication May 2003 has not systematically contributed to the retrenchment of developed welfare states as many claim. Nor has globalization directly reduced the revenue-raising capacities of governments and undercut the political institutions that support the welfare state. Law and Economics 27

Cambridge Studies in Comparative Politics population, together with the shrinking 2002 228 x 152 mm 600pp 7 line diagrams 2002 228 x 152 mm 350pp 10 line diagrams workforce, heralds a growing pensions 16 tables 5 graphs 0 521 81490 1 Hardback £70.00 22 tables crisis, which has become a key public 0 521 80668 2 Hardback £45.00 0 521 89313 5 Paperback £25.95 0 521 00144 7 Paperback £15.95 policy issue in developed countries and elsewhere. JPEF will provide a forum for Textbook Liberalism, Democracy and international debate in this area. The Corporate Insolvency Law Development journal is associated with the International Perspectives and Principles Sylvia Chan Network of Pension Regulators and Vanessa Finch Birkbeck College, University of London Supervisors, a new network administered London School of Economics and Political Science by the OECD which has member Vanessa Finch provides a new look at Chan examines the claim that developing organizations in over 60 countries. JPEF corporate insolvency laws and processes. countries should aspire to the Western will publish original research papers, She adopts an interdisciplinary approach to model of liberal democracy for good covering a variety of topics, including place two questions at the centre of her governance and economic success. She pension fund management, the regulation discussion. Are current UK laws and argues that these successful developing of pensions, and pensions and labour procedures efficient, expert, accountable nations have enjoyed the economic and markets. and fair? Are fundamentally different social liberties necessary to encourage Subscriptions economic development, without adopting Volume 2 in 2003: March, July and conceptions of insolvency law needed for it the institutions and values of the West. November to develop in a way that serves corporate 2002 228 x 152 mm 284pp Institutions print and electronic: £80/$120 and broader social ends? Topics considered 0 521 80883 9 Hardback £47.50 Institutions electronic only: £75/$112 in this fully up-to-date and wide-ranging 0 521 00498 5 Paperback £16.95 Individuals print only: £26/$38 American Political Science Association, American book include different ways of financing Journal Historical Association: £20/$30 companies, causes of corporate failure and Print ISSN 1474-7472 prospects for designing rescue-friendly Journal of Public Policy Electronic ISSN 1475-3022 processes. Also examined are alternative Editor: Richard Rose asset distribution of failed companies, University of Strathclyde allocations of insolvency risks and effects Journal of Public Policy publishes research Law and Economics of insolvency on a company’s directors and that applies social scientific theories and employees. Finch argues that changes of concepts to significant problems around New approach are needed if insolvency law is to the world. The concerns of public policy The Economics of Contracts develop with coherence and purpose. This are political, economic and social, and Theories and Applications book will appeal to academics and students articles deal with broad questions of Edited by Eric Brousseau at advanced undergraduate and graduate relevance to social scientists and policy- Université de Paris Xl level, and to legal practitioners throughout makers in America, Eastern and Western and Jean-Michel Glachant the common law world. Europe, Japan and other advanced Université de Paris-Sud 2002 228 x 152 mm 656pp industrial nations. Articles that cut across 0 521 62256 5 Hardback £95.00 0 521 62685 4 Paperback £34.95 disciplines, such as studies in national and international political economy; critical New second edition analyses of ideas currently in vogue among The Legal Regime of Foreign academics or practitioners of public policy; and reviews of books about public policy Private Investment in Sudan and are included. Saudi Arabia Subscriptions Second edition Volume 23 in 2003: May, August and Fath El Rahman Abdalla El Sheikh December Kuwait Investment Authority Institutions print and electronic: £104/$168 Institutions electronic only: £94/$151 This revised edition considers two Individuals print only: £39/$63 developing countries with similar socio- American Political Science Association, American ethnic backgrounds in the context of Historical Association: £29/$47 Print ISSN 0143-814X international and Islamic law. Topics Electronic ISSN 1469-7815 include incentives and facilities, investment treaties, investment insurance programmes, Journal and remedies for aggrieved investors. Of Journal of Pension Economics and A comprehensive and up-to-date synthesis of interest to legal academics and business and Finance the economic analysis of contracts, written legal professionals involved with Editors: Jeffrey Brown by a specially commissioned team of leading investment in developing countries. University of Illinois, Urbana-Champaign international scholars. The book offers a well 2003 228 x 152 mm 572pp 0 521 81772 2 Hardback c. £75.00 Steven Haberman structured analysis of theoretical Publication February 2003 Cass Business School, City University developments, the diverse fields of Moshe Milevsky applications, the methodologies in use, and York University the policy implications at both firm and state and J. Michael Orszag level. The book offers a unique combination Watson Wyatt of theoretical and applied economics along The Journal of Pension Economics and with insights from law and management Finance (JPEF) is a new journal focusing sciences. It is designed to appeal to scholars, on the economics and finance of pensions graduate students and practitioners in and retirement income. The ageing economics, management and law.

Visit our website at www.cambridge.org 28 Industrial Organization

New Forthcoming Industrial International Perspectives on Pure Economic Loss in Europe Organization Consumers’ Access to Justice Edited by Mauro Bussani Università degli Studi di Trieste Edited by Charles E. F. Rickett New University of Auckland and Vernon Palmer and Thomas G. W. Telfer Tulane University, Louisiana Regulation and Entry into University of Western Ontario How far can tort liability expand without Telecommunications Markets Consumer protection law in the age of imposing excessive burdens upon Paul de Bijl globalisation poses new challenges for individual activity? This comprehensive Ministry of Finance, The Hague policy-makers. Leading scholars outline key study of pure economic loss in Europe uses and Martin Peitz problems faced in adopting consumer laws a fact-based comparative method and in- Deutsche Forschungsgemeinschaft to the global marketplace. Topics include depth research into the laws of thirteen standard form contracts, the legal European countries. Includes a historical challenges posed by mass infection (such as and analytical introduction to economic CJD), consumers and services, and loss. This is the third published volume of consumer bankruptcy law. the results of the Trento project. 2003 228 x 152 mm 516pp Cambridge Studies in International and 0 521 82432 X Hardback c. £65.00 Comparative Law, 28 Publication March 2003 2003 228 x 152 mm 652pp 0 521 82464 8 Hardback c. £75.00 New Publication April 2003 Antitrust Law Forthcoming Economic Theory and Common Law Evolution International Law from Below Keith N. Hylton Development, Social Movements and Third Boston University World Resistance This book is an effort to consolidate several Balakrishnan Rajagopal different perspectives on antitrust law. Massachusetts Institute of Technology Specific topics covered include perfect This first-ever analysis of international law This book examines competition and competition versus monopoly, using social movement theory provides a regulation in the liberalized enforcement, cartels, section 1 doctrine, fundamental critique of modern telecommunications markets. The rule of reason, agreement, boycott, power, international law. Rajagopal suggests that authors analyse a broad range of market vertical restraints, tying and exclusive with transnational/local social movement constellations, in particular the hot dealing, horizontal mergers, and action becoming increasingly central – topic of access price regulation in conglomerates. witnessed in Seattle in 1999 – a new law- asymmetric markets, and derive from based global order must take the resistance this various policy recommendations. It Advance praise: of social movements more seriously. is a valuable resource for academics, ‘This book is the single best one-volume 2003 228 x 152 mm 200pp regulators and telecommunications discussion of modern antitrust law 0 521 81646 7 Hardback c. £50.00 0 521 01671 1 Paperback c. £18.95 professionals. available. It is encyclopaedic in coverage, Publication September 2003 but deeper than a treatise because it is ‘Paul de Bijl and Martin Peitz informed at every step with the best and The Law and Economics of substantially expand our understanding most systematic of current economic Marriage and Divorce of corporate strategies and regulatory trade-offs in the telecommunications and legal analysis. If you want to learn Edited by Antony Dnes (or to learn more) about modern University of Hertfordshire industry. Using a rigorous analytical framework, they guide us through the antitrust law, read this book.’ and Robert Rowthorn George Priest, Yale Law School University of Cambridge early liberalization stage toward competition in a mature market. This 2003 228 x 152 mm 408pp 14 line diagrams The role of ‘incentives’ is considered in this insightful and comprehensive book is 0 521 79031 X Hardback £60.00 economic approach to family law. The 0 521 79378 5 Paperback £21.95 essential reading for all academics, Publication March 2003 book discusses the possible adverse consultants and industry professionals consequences emanating from faulty legal concerned with telecommunications.’ design, while demonstrating that good Jean Tirole, University of Toulouse family law should provide incentives for consistent behavior. This will interest 2003 228 x 152 mm 344pp 1 line diagram lawyers, policy-makers and economists 48 tables 35 graphs 0 521 80837 5 Hardback £50.00 concerned with family law. Publication January 2003 2002 228 x 152 mm 242pp 0 521 80933 9 Hardback £47.50 0 521 00632 5 Paperback £16.95 Industrial Organization 29

New Forthcoming Textbook Governing the Firm The Internet Revolution The Economics of Network Workers’ Control in Theory and Practice A Global Perspective Industries Gregory K. Dow Edited by Emanuele Giovannetti Oz Shy Simon Fraser University, British Columbia University of Cambridge University of Haifa, Israel Most large firms are controlled by Mitsuhiro Kagami shareholders, who choose the board of Institute of Developing Economies, Chiba directors and can replace the firm’s and Masatsugu Tsuji management. In rare instances, however, University of Osaka, Japan control over the firm rests with the Information technology has become a workforce. Many explanations for the rarity constant presence in contemporary life, of workers’ control have been offered, but infiltrating community, business and state there have been few attempts to assess these affairs. This book discusses the current uses hypotheses in a systematic way. This book and problems of IT in both developing and draws upon economic theory, statistical advanced countries, focussing on the ways evidence, and case studies to frame an in which IT changes society without explanation. The fundamental idea is that neglecting the problematic aspects of the labor is inalienable, while capital can be Internet revolution such as computer crime freely transferred from one person to and the lack of professionals with computer another. This implies that worker- literacy, particularly from a developing controlled firms typically face financing country’s perspective. It examines such problems, encounter collective choice issues as the characteristics of network dilemmas, and have difficulty creating economies, connectivity pricing, Internet This book introduces upper-level markets for control positions within the access, regulation, changes in supply undergraduates, graduate students, and firm. Together these factors can account for chains, IT gaps between supply and researchers to the latest developments in much of what is known about the demand, productivity increases, and the network economics. The book conveys the incidence, behavior, and design of worker- digital divide. Emanuele Giovannetti, essential features of how strategic controlled firms. A policy proposal to Mitsuhiro Kagami and Masatsugu Tsuji interactions between firms are affected by encourage employee buyouts is developed have gathered together a group of network activity, as well as covering social in the concluding chapter. international experts in economics and interaction and its influence on consumers’ trade who discuss the impact of this choices of products and services. Advanced praise: revolution globally, looking at countries or ‘It’s been a long time since the regions including the UK, EU, Central and ‘The Economics of Network Industries is appearance of so important a book on Eastern Europe, US, Japan, India, South the first textbook devoted exclusively to worker participation and the governance Africa, Singapore, Malaysia, Thailand and the analysis of markets in which the of enterprises. Dow lays out the states of China. utility of consumers increases with the our knowledge and of our ignorance Department of Applied Economics Occasional number of others purchasing the same clearly and readably, inviting us to join Papers, 66 (i.e. compatible) product.’ him in thinking about what might be 2003 228 x 152 mm 286pp 68 line diagrams Managerial and Decision Economics the next steps forward. No better 67 tables 0 521 82372 2 Hardback c. £45.00 Contents: 1. Introduction; 2. The introduction to the subject matter is Publication March 2003 hardware industry; 3. The software available.’ industry; 4. Technology, advance, and Louis Putterman, Brown University The Future of e-Markets standardization; 5. Telecommunication; Multidimensional Market Mechanisms ‘This book will immediately become the 6. Broadcasting; 7. Markets for Martin Bichler information; 8. Banks and money; 9. The standard reference on worker ownership IBM T J Watson Research Center, New York and management and is thoroughly airline industry: social interaction; recommended for both specialist and Combines economics with computer 10. Other networks; Appendices: A. non-specialist alike.’ science to analyse multidimensional Normal-form games; B. Extensive-form John Pencavel, Stanford University auction mechanisms, the emerging pricing games; C. Undercut-proof equilibria. model for e-business. For professionals, 2001 228 x 152 mm 330pp 55 line diagrams 2003 228 x 152 mm 336pp 1 line diagram consultants and dotcomers involved in 23 tables 6 tables designing, implementing and upgrading 0 521 80095 1 Hardback £47.50 0 521 81853 2 Hardback c. £47.50 0 521 80500 7 Paperback £17.95 0 521 52221 8 Paperback c. £16.95 electronic markets, as well as researchers Publication March 2003 in: economics, information systems, operations management, computer science and observers of the e-commerce phenomenon. 2001 228 x 152 mm 262pp 12 tables 53 figures 0 521 80128 1 Hardback £55.00 0 521 00383 0 Paperback £19.95

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Forthcoming differentiation on the customer front Management and and efficiency on the functional front – Innovation and Knowledge Marketing all by driving strategic decision-making Creation in an Open Economy down to the level of the customer.’ Canadian Industry and International New Professor Ian MacMillan, Wharton Implications School of Management, University of John R. Baldwin Rethinking Performance Pennsylvania Statistics Canada Measurement and Peter Hanel Beyond the Balanced Scorecard 2003 228 x 152 mm 212pp 53 line diagrams Sherbrooke University, Canada 4 tables Marshall W. Meyer 0 521 81243 7 Hardback c. £25.00 This study of innovation – its intensity, the Wharton School, University of Pennsylvania Publication January 2003 sources used for knowledge creation, and its impacts – is based on a comprehensive Assumption-Based Planning survey of innovation of Canadian A Tool for Reducing Avoidable Surprises manufacturing firms. Attention is paid to James A. Dewar the different actors in the system, who both RAND Corporation, California compete with and complement one another. The study investigates how innovation regimes differ across size of firm and across industries. Owing to the high degree of foreign investment in Canada, special attention is paid to the performance of foreign-owned firms. The innovation regime of Canadian innovators is compared with results of studies of other industrialized countries. The picture of a typical innovator is a firm that combines internal resources and external contacts to develop a set of complementary strategies. Performance measurement remains a The study finds that innovating firms vexing problem for business firms and depend not only on R&D, but also on other kinds of organizations. This book ideas and technology from various other explains why: the performance we want sources, both internal and external to the to measure (long-term cash flows, long- firm. term viability) and the performance we Unwelcome surprises in the life of any 2003 228 x 152 mm 475pp 27 line diagrams can measure (current cash flows, organization can often be traced to the 160 tables customer satisfaction, etc.) are not the failure of an assumption that the 0 521 81086 8 Hardback c. £55.00 organization’s leadership didn’t anticipate or Publication May 2003 same. The ‘balanced scorecard’, which has been widely adopted by US firms, had ‘forgotten’ it was making. does not solve these underlying Assumption-based planning (ABP) is a tool problems of performance measurement for identifying as many as possible of the and may exacerbate them because it assumptions underlying the plans of an provides no guidance as to how to organization and bringing those combine dissimilar measures into an assumptions explicitly into the planning overall appraisal of performance. A process. This book presents a variety of measurement technique called activity- techniques for rooting out those based profitability analysis (ABPA) is vulnerable, crucial assumptions. The book suggested as a partial solution, especially also presents steps for monitoring all the to the problem of combining dissimilar vulnerable assumptions of a plan, for measures. ABPA estimates the revenue taking actions to control those vulnerable consequences of each activity performed assumptions where possible, and for for the customer, allowing firms to preparing the organization for the potential compare revenues with costs for these failure of those assumptions where control activities and hence to discriminate is not possible. The book provides a variety between activities that are ultimately of examples and practical advice for those profitable and those that are not. interested in carrying out an application of ABP in the fields of business, management, ‘This book is a must-buy for any senior strategic planning, engineering, and in managers of service firms that aspire to military applications. have their companies survive and RAND Studies in Policy Analysis prosper even as competition inevitably 2002 228 x 152 mm 266pp 19 line diagrams increases. Building on a platform of 0 521 80653 4 Hardback £47.50 insightful field work Meyer uses a 0 521 00126 9 Paperback £16.95 compelling and incisive logic to propose a monitoring and measurement methodology (APBA) that allows firms to simultaneously pursue customer Management and Marketing 31

Strategy and Organization New the theories. The book provides an analysis of the crucial literature on remuneration Realising Strategic Management Reaching the Interactive Customer and performance management, exploring Loizos Heracleous Devices and Services for a Digital World the main theories, debates and practices. National University of Singapore Mai-lan Tomsen The book seeks to provide students with a Examining some of the new and emerging Microsoft Corporation thorough understanding of the debates issues in strategic management, Loizos and Ron Faith associated with issues of work motivation, Heracleous offers a fresh approach to the Qpass pay equity, performance management established ideas of strategy. With an Reaching the Interactive Customer provides ethics; the methods of pay and underlying ‘organisational action’ critical information for business performance management; the systems of perspective, he emphasises the importance professionals who want to understand a performance pay; and the options and of organisational culture in realising ‘connected world’, linking businesses, issues facing managers. It encourages strategy and applies these to such customers, and service providers. It students to form a critical understanding of important new areas as corporate describes how the audience for interactive the debates it raises by providing an governance and the impact of the Internet services has evolved and what that audience overview of the alternatives. on business organisation and activity. is looking for in consumer devices. 2003 250 x 176 mm 320pp Combining original research with thorough 2003 228 x 152 mm 160pp 0 521 82046 4 Hardback c. £30.00 surveys of the literature, the book has a 0 521 81670 X Paperback c. £17.95 Publication August 2003 Publication February 2003 strong applied orientation making it ideal Forthcoming for MBA level students, researchers and the Forthcoming more thoughtful practitioner. Corporate Entrepreneurship 2003 228 x 152 mm 260pp 18 line diagrams Satisficing Games and Decision Top Managers and New Business Creation 17 tables Making Vijay Sathe 0 521 81261 5 Hardback c. £47.50 With Applications to Engineering and Claremont Graduate School, California 0 521 01194 9 Paperback c. £16.95 Computer Science Publication July 2003 Foreword by Peter F. Drucker Wynn Stirling How do large corporations encourage their Forthcoming Brigham Young University, Utah senior managers to become more Organizational Learning from In our day-to-day lives we constantly make entrepreneurial? This is a key question Performance Feedback decisions which are simply ‘good enough’ which is seldom addressed in mainstream A Behavioral Perspective on Innovation and rather than optimal. Most computer-based entrepreneurship studies. Professor Sathe Change decision making algorithms, on the other has written a pioneering book based on Henrich R. Greve hand, doggedly seek only the optimal hundreds of hours of interviews with senior Norwegian School of Management solution based on rigid criteria and reject managers to help understand why some Revisiting Cyert and March’s classic 1963 any others. In this book, Professor Stirling organizations and some top managers are ‘Behavioral Theory of the Firm’, Henrich outlines an alternative approach, using better than others in fostering Greve offers an intriguing analysis of how novel algorithms and techniques which can entrepreneurship leading to successful new firms evolve in response to feedback about be used to find satisficing solutions. business growth. Corporate Entrepreneurship their own performance. Based on ideas Building on traditional decision and game explores the real world of top managers in from organizational theory, social theory, these techniques allow decision- a systematic and comprehensive way, psychology, and economics, he explains making systems to cope with more subtle examining business realities, the how managers set goals, evaluate situations where self and group interests management culture, the corporate performance, and determine strategic conflict, perfect solutions can’t be found philosophy, the organizational politics, the changes. Drawing on a range of recent and human issues need to be taken into personalities and the personal agendas of studies, including the author’s own analysis account – in short, more closely modelling the people at the top. The book offers both of the Japanese shipbuilding industry, he the way humans make decisions. The book a theory of corporate entrepreneurship and reports on how theory fits current evidence will therefore be of great interest to practical advice on how to manage it on organizational change of risk-taking, engineers, computer scientists and better. An original and valuable research and development expenses, mathematicians working on artificial contribution to the literature on strategic innovativeness, investment in assets, and in intelligence and expert systems. management, this is a book that will appeal 2003 247 x 174 mm 250pp 20 line diagrams to graduate students, researchers and market strategy. The findings suggest that 0 521 81724 2 Hardback c. £55.00 high-performing organizations quickly Publication April 2003 reflective practitioners. reduce their rates of change, but low- 2003 228 x 152 mm 400pp 16 tables 11 figures performing organizations only slowly Forthcoming 0 521 82499 0 Hardback c. £65.00 0 521 53197 7 Paperback c. £24.95 increase those rates. Analysis of Performance and Rewards Publication June 2003 performance feedback is an important new Management direction for research and this book An Introduction to the Theory and Practice The Open Corporation provides valuable insights in how of Strategic Remuneration Management Effective Self-regulation and Democracy organizational learning interacts with other John Shields Christine Parker influences on organizational behaviour University of Sydney University of Melbourne such as competitive rivalry and institutional Performance and Rewards Management The Open Corporation sets out an influences. critically examines contemporary theory innovative and realistic blueprint for 2003 228 x 152 mm 260pp 7 tables 12 figures and practice in these central fields of effective corporate self-regulation, offering 0 521 81831 1 Hardback c. £50.00 0 521 53491 7 Paperback c. £18.95 human resource management (HRM), practical strategies for managers, Publication June 2003 providing a comprehensive overview of the stakeholders and regulators to build key concepts and topics, and draws on a successful self-regulation management wide range of case studies to demonstrate systems. Christine Parker examines the

Visit our website at www.cambridge.org 32 Management and Marketing conditions under which corporate self- Forthcoming New regulation of social and legal responsibilities is likely to be effective, Strategic Alliances as Social Facts Megaprojects and Risk covering a wide range of areas – from Business, Biotechnology, and Intellectual An Anatomy of Ambition History consumer protection to sexual harassment Bent Flyvbjerg to environmental compliance. Focusing on Mark De Rond Aalborg University, Denmark Judge Institute of Management Studies, Cambridge the features that make self-regulation or Nils Bruzelius Foreword by Anne Huff compliance management systems effective, Stockholms Universitet Parker argues that law and regulators need Mark de Rond examines the social and Werner Rothengatter to focus much more on ‘meta-regulating’ dimension of strategic alliances and the Universität Fridericiana Karlsruhe, Germany corporate self-regulation if democratic importance of the individuals involved. control over corporate action is to be Based on in-depth case studies of three established. For Parker, the ideal of the major biotechnology alliances, the book open corporation should be a union combines insights from social theory and between government, democracy and the intellectual history with mainstream law. strategic management literature to provide 2002 228 x 152 376pp 5 tables 7 figures a refreshing and thought-provoking 0 521 81890 7 Hardback £30.00 analysis.

New edition ‘An absorbing account of strategic Corporate Collapse learning in a hi-tech sector. Written in Second edition an elegant and witty style, it opens the F. L. Clarke analysis to a wide audience. The case University of Newcastle, New South Wales histories are likely to be quoted in G. W. Dean management teaching and research for University of Sydney some time to come.’ and K. G. Oliver Professor Raymond Loveridge, Said University of Sydney Business School, University of Oxford This book is a fascinating account of This revised edition of Clarke, Dean and how promoters of multi-billion dollar 2003 228 x 152 mm 260pp 19 line diagrams megaprojects systematically and self- Oliver’s provocative book tells why 0 521 81110 4 Hardback c. £45.00 accounting has failed to deliver the truth Publication June 2003 servingly misinform parliaments, the about a company’s state of affairs or to give public and the media in order to get Forthcoming warning of its drift towards failure. By projects approved and built. The studying a number of well-known cases of NGOs and Organizational Change authors not only explore the problems corporate collapse from the 1960s to the Discourse, Reporting and Learning but also suggest practical solutions present day, the authors observe that little Alnoor Ebrahim drawing on theory, experience and hard, has changed. They balance broad Virginia Polytechnic Institute and State University scientific evidence from the several interpretations and recommendations for The organizational dynamics of non- hundred projects in twenty nations and reform with fine detail of particular cases, governmental organizations (NGOs) have five continents that illustrate the book. insightful analysis of contemporary become increasingly complex as they have Accessibly written, it will be the practices and dissection of the pervading evolved from small local groups into standard reference for students, scholars, commercial rhetoric. This revised edition sophisticated multinational organizations planners, economists, auditors, includes an examination of the recent HIH with global networks. Alnoor Ebrahim’s politicians and interested citizens for and One.Tel collapses and shows that the study analyses the organizational evolution many years to come. cult of the individual in media coverage has of NGOs as a result of their increased Advance praise: masked serious endemic problems in the profile as bilateral partners in delivering system of reporting financial information. aid. The book combines original case ‘Megaprojects and Risk provides a Corporate Collapse is essential reading for studies and research with an extensive fascinating look at the pervasiveness of professional accountants and auditors, review of literature from organizational and misinformation in the planning of company directors and managers, development studies and advances our major construction projects and the regulators, corporate lawyers, investors and understanding of management and systematic bias of such misinformation everyone aspiring to join their ranks. organizational change in the non-profit toward justifying project sector. implementation. The power of its Reviews of the first edition: 2003 228 x 152 mm 200pp 6 line diagrams analysis is vastly reinforced by the range ‘Corporate Collapse should be read by 7 tables 3 graphs 1 map of cases examined, extending over 0 521 82486 9 Hardback c. £40.00 seventy years and five continents. An anyone with an interest in financial Publication July 2003 matters.’ extraordinary accomplishment, it will Times Higher Education Supplement doubtless serve as the standard reference on this topic for many years to come.’ 2003 228 x 152 mm 344pp Alan Altshuler, Kennedy School of 0 521 82684 5 Hardback c. £50.00 Government, Harvard University 0 521 53426 7 Paperback c. £18.95 Publication April 2003 Management and Marketing 33

‘I will use this book for many years to New making skills. It is grounded in well- established theory, yet the wide ranging come in my urban planning classes … Finding a Common Interest Anyone concerned with public works international examples used to illustrate its The Story of Dick Dusseldorp and Lend application offer a fresh approach to what projects, planning, and ethics in public Lease policy making should read this book. It is becoming an essential weapon in the Lindie Clark armoury of the informed manager. The provides a genuinely original Dusseldorp Skills Forum perspective.’ book is accessibly written, explaining in This important book demonstrates how simple terms the underlying mathematics Martin Wachs, University of California, businesses can operate both profitably and Berkeley behind games of skill, before moving on to ethically – by finding a common interest more sophisticated topics such as zero-sum ‘This book is a warning against the between all those involved in their games, mixed-motive games, and multi- betrayal of public trust when hubris and operations. It does so through the example person games, coalitions and power. Clear profit come together. It shows that some of Dick Dusseldorp, founder of Lend examples and helpful diagrams are used decisions are too important to be left Lease, one of Australia’s most admired throughout, and the mathematics is kept to only to the accredited experts; that there blue-chip corporations. Arriving in postwar a minimum. Written for managers, is no substitute for a post-normal Australia with only one construction students and decision makers in any field. science involving citizens’ active contract and a handful of workers on his 2003 247 x 174 mm 200pp 39 line diagrams participation … We should all learn the company’s books, Dusseldorp built Lend 57 tables Lease into a billion dollar property 0 521 81462 6 Hardback c. £24.95 lesson brought home by this book, and Publication February 2003 never accept uncritically the experts’ development and financial services ‘magic numbers’ that are used to justify concern. Widely respected for his business Textbook megaprojects.’ success, Dusseldorp was equally well Quantitative Models in Marketing Silvio Funtowicz and Jerry Ravetz, known for his commitment to sharing the Research fruits of that success with the workers, authors of Uncertainty and Quality of Philip Hans Franses Science for Policy shareholders, and clients of Lend Lease, and the communities where the company Erasmus Universiteit Rotterdam 2003 228 x 152 mm 198pp 13 line diagrams conducted its business. Not only does this and Richard Paap 10 tables book tell the story of Lend Lease and its Erasmus Universiteit Rotterdam 0 521 80420 5 Hardback c. £40.00 0 521 00946 4 Paperback c. £14.95 founder, through them it demonstrates Presents the most important and practically Publication February 2003 how business can be done inclusively – and relevant quantitative models used for so provides a workable model for corporate marketing research. Each model is New governance. presented in detail with a self-contained 2003 228 x 152 mm 308pp 25 half-tones discussion, which includes: a International Business Risk 0 521 82531 8 Hardback £45.00 demonstration of the mechanics of the A Handbook for the Asia-Pacific Region Publication January 2003 model, empirical analysis, real world Edited by Darryl Jarvis New examples, and interpretation of results and University of Sydney Decision Making using Game findings. International Business Risk is an attempt to Contents: 1. Introduction and outline of help investors and students of Theory An Introduction for Managers the book; 2. Features of marketing research contemporary Asian affairs navigate the data; 3. A continuous dependent variable; risk environments of Asia. Using the most Anthony Kelly University of Southampton 4. A binomial dependent variable; 5. An up-to-date information and analytical unordered-multinomial dependent variable; techniques, the volume analyses the 6. An ordered-multinomial dependent political, economic, regulatory, and security variable; 7. A limited dependent variable; environments of 12 Asian countries. Each 8. A duration dependent variable; country is assessed for its political and Appendix. economic trends, investment risks, and 2001 247 x 174 mm 220pp 25 tables 28 figures opportunities in a way that is clear, concise 0 521 80166 4 Hardback £35.00 and easily accessible. The handbook conveys forecast information through a Textbook series of charts, graphs, and boxed Management Decision Making summaries of data, making it a handy Spreadsheet Modeling, Analysis, and reference guide for business professionals as Application well as teaching and research professionals George E. Monahan engaged in international relations, University of Illinois, Urbana-Champaign international business and trade with Asia. Management Decision Making is a 2002 247 x 174 mm 496pp 110 graphs 13 maps spreadsheet-based introduction to the tools 0 521 82194 0 Hardback £65.00 Publication December 2002 and techniques of modern managerial decision making. Throughout, the goal is to understand how business decisions are Game theory is a key element in most reached, what tradeoffs are made, and how decision making processes involving two or outcomes depend on the underlying data. more people or organisations. This book A CD-ROM containing decision analysis explains how game theory can predict the software is included. outcome of complex decision making processes, and how it can help you to improve your own negotiation and decision

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Contents: 1. The science of managerial information-based economy. The Forthcoming decision making; Part I. Decision Making combination of Air Touch with Business History around the World Using Deterministic Models: Vodafone in 1999, and Vodafone with 2. Introduction to linear programming at the Turn of the Twenty-First Mannesmann in Europe in 2000 has Century models; 3. Developing model formulation created the largest wireless business in skills; 4. More advanced linear decision the world. Vodafone also formed a joint Edited by Franco Amatori problems; 5. Output analysis I: small venture with Bell Atlantic to create the Università Commerciale Luigi Bocconi, Milan changes; 6. Output analysis II: large largest wireless company in America. and Geoffrey Jones Reading University changes; 7. Integer linear programs; 2002 228 x 152 mm 320pp 6 line diagrams Part II. Decision Making Under 6 half-tones This book offers the first in-depth Uncertainty: 8. Introduction to probability 0 521 81616 5 Hardback £25.00 international survey of current research and models; 9. Decision making under New debates in business history. Historians are uncertainty; 10. Decision trees; documenting and analyzing the evolution of 11. Management of congested service Russia’s Economic Transitions a wide range of important companies, their systems; 12. Monte Carlo simulation; From Late Tsarism to the New Millennium patterns of innovation, production, and Appendix – an Excel primer. Nicolas Spulber distribution, their financial affairs, their 2000 247 x 174 mm 752pp 100 tables Indiana University political activities, and their social impact. 158 exercises 258 figures 0 521 78118 3 Hardback £37.50 Russia’s Economic Transitions examines the Comparative Perspectives in Business History three major transformations that the 2003 228 x 152 mm 350pp 1 line diagram 1 table country underwent from the early 1860s to 0 521 82107 X Hardback c. £40.00 Economic History 2000. The first transition, under Tsarism, Publication June 2003 involved the partial breakup of the feudal New framework of land ownership and the New move toward capitalist relations. The International Financial History in Anytime, Anywhere second, following the Communist the Twentieth Century Entrepreneurship and the Creation of a revolution of 1917, brought to power a System and Anarchy Wireless World system of state ownership and Edited by Marc Flandreau Louis Galambos administration – a sui generis type of war- Institut d’Etudes Politiques, Paris The Johns Hopkins University economy state capitalism – subjecting the Carl-Ludwig Holtfrerich and Eric John Abrahamson economy’s development to central Freie Universität Berlin The Prologue Group commands. The third, started in the early and Harold James 1990s and still unfolding, is aiming at Princeton University, New Jersey reshaping the inherited economic fabric on The essays in this book, written by some of the basis of private ownership. The three the leading experts in the field, examine the transitions originated within different long-run history of the international settings, but with a similar primary goal, financial system in the terms of the current namely the changing of the economy’s debate about globalization and its limits. ownership pattern in the hopes of Publications of the German Historical Institute providing a better basis for subsequent 2003 228 x 152 mm 288pp development. The treatment’s originality, 0 521 81995 4 Hardback c. £35.00 impartiality, and historical breadth have Publication April 2003 cogent economic, social, and political Forthcoming relevance. Globalization and the American ‘The book is a massive undertaking, Century covering almost two centuries. Spulber Alfred E. Eckes is attempting to look at the three major Ohio University transitions of Russian economic history and Thomas W. Zeiler Wireless entrepreneurs are transforming – the decision to ‘modernize’ after the University of Colorado, Boulder the way people live and work around Crimean War, the Soviet Revolutionary improvements in American the globe. In the process they have industrialization drive and ensuing technology have combined with the created some of the fastest growing modernization of the Soviet Union, and leadership elite’s enthusiasm for de- companies on the planet. This book tells the Russian transition after 1991. It is a regulation of markets and free trade to fuel the story of the birth and explosion of monumental scholarly effort. No one American-style globalization. However, the cellular and wireless communications as else has tried such a project, so it will tragic events of September 2001 and the seen through the eyes of one of the stand alone.’ growing volatility of global finance, now industry’s pioneers, Sam Ginn. As Paul R. Gregory, University of Houston, raise questions about whether the era of deregulation and privatization swept the Texas American-led globalization is sustainable. globe, Ginn and his team at Air Touch 2003 228 x 152 mm 432pp 11 line diagrams 2003 228 x 152 mm 350pp 10 half-tones Communications fought for and won 95 tables 13 tables licenses on several continents. They 0 521 81699 8 Hardback £55.00 0 521 80409 4 Hardback c. £35.00 Publication January 2003 0 521 00906 5 Paperback c. £12.95 built an amazingly successful business Publication May 2003 using strategic partnerships and joint ventures. In the process they demonstrated a new model for global entrepreneurship in a high-tech, Economic History 35

Cambridge Medieval Textbooks Forthcoming New 2002 216 x 138 mm 274pp The Escape from Hunger and British Trade Unions since 1933 0 521 45260 0 Hardback £40.00 Premature Death, 1700–2100 Chris Wrigley 0 521 45893 5 Paperback £14.95 Robert W. Fogel University of Nottingham New This book consolidates Robert Fogel’s Ellen This textbook summarises the history of The Rise of Commercial Empires McArthur lectures, which examine the British trade unions between 1933 and England and the Netherlands in the Age of importance of nutrition in economic 2000. The book discusses the key themes Mercantilism, 1650–1770 history. In these lectures, Professor Fogel and controversies surrounding trade unions, David Ormrod discusses the use of evidence of life including their economic impact and their University of Kent at Canterbury influence on government. It gives students a expectancy and physical stature to examine The Rise of Commercial Empires is a work of lucid and up-to-date introduction to the broad themes in modern history, and to major importance for the economic history recent history of British trade unionism. highlight the need for public policy debate. of both Europe and North America. It is He considers errors in previous New Studies in Economic and Social History, 46 an analysis of a crucial transformation in explanations of secular trends in health and 2002 216 x 138 mm 114pp 0 521 57231 2 Hardback £25.00 the history of trade, as London became the longevity, and analyses from an economic centre of a new kind of world economy. perspective the future prospects for Just Taxes Cambridge Studies in Modern Economic longevity. This collection will appeal to The Politics of Taxation in Britain, History, 10 public policy experts, demographers, and 1914–1979 2003 228 x 152 mm 404pp 10 half-tones 33 tables 15 figures 1 map scholars of economic and medical history. Martin Daunton Cambridge Studies in Population, Economy and 0 521 81926 1 Hardback c. £50.00 University of Cambridge Publication February 2003 Society in Past Time Professor Martin Daunton’s major work of 2003 228 x 152 mm 200pp New 0 521 80878 2 Hardback c. £47.50 original synthesis explores the politics of 0 521 00488 8 Paperback c. £17.95 taxation in the twentieth century. The History of Family Business, Publication June 2003 Combining new research with a 1850–2000 Forthcoming comprehensive survey of existing Andrea Colli knowledge, this lucid and wide-ranging Università Commerciale Luigi Bocconi, Milan Poverty, Progress and Population book examines the complex financial This book gives a historical and E. A. Wrigley relationship between the State and its comparative perspective on family business, University of Cambridge citizens in modern Britain. examining through time the different Our understanding of what constituted the 2002 228 x 152 mm 422pp 23 tables 9 graphs 0 521 81400 6 Hardback £45.00 relationships within family businesses and industrial revolution has changed among family enterprises. It discusses the fundamentally in recent decades. Sir E. A. The Cambridge History of Western reasons for both the decline and persistence Wrigley, the leading historian of industrial Textiles of family business, its historical evolution, England, here sets out to expose the and its contribution to the growth of single Edited by David Jenkins inadequacy of what was once the received economies. wisdom and to suggest what he believes University of York New Studies in Economic and Social History, 47 should stand in its place. Textiles have been essential to the everyday 2002 216 x 138 mm 114pp 2003 228 x 152 mm 330pp lives of all societies. This authoritative 0 521 80028 5 Hardback £25.00 0 521 82278 5 Hardback c. £47.50 study brings together and extends current 0 521 80472 8 Paperback £9.95 0 521 52974 3 Paperback c. £17.95 Publication December 2002 Publication June 2003 knowledge on the production and uses of textiles, through the eyes of archaeologists, Textbook economic and social historians, historians National Cultures and of fashion and of dress, and museum International Competition Making History Count The Experience of Schering AG, 1851–1950 A Primer in Quantitative Methods for curators. Christopher Kobrak Historians 2003 247 x 174 mm 1500pp 280 half-tones 40 colour plates Charles H. Feinstein 0 521 34107 8 2 Volume Hardback Boxed Set This book is first and foremost a history of University of Oxford c. £250.00 Schering AG, one of Germany’s best and Mark Thomas known pharmaceutical companies, from its Introductory offer price of £200 until 3 University of Virginia months after publication. birth as a pharmacy in the middle of the nineteenth century to the first steps of its This authoritative guide to quantitative Publication March 2003 methods is designed to be used as the basic re-birth as a multinational in 1950. text for taught graduate courses, and Medieval Economic Thought Cambridge Studies in the Emergence of Global Enterprise upper-level students working on their own. Diana Wood Illustrated with tables, graphs and 2002 228 x 152 mm 412pp 16 half-tones 1 map University of East Anglia 0 521 81481 2 Hardback £40.00 diagrams, it introduces key topics, and supported by five specific historical data- This book studies medieval economic sets, available electronically in thought, from the twelfth to the fifteenth downloadable and manipulatable form. centuries, as it emerges from the works of 2002 247 x 174 mm 570pp 1 table 142 figures academic theologians and lawyers and a 0 521 80663 1 Hardback £65.00 variety of secular sources. Its aim is to 0 521 00137 4 Paperback £21.95 make accessible a relatively neglected subject, and to explore the relationship between theory and practice.

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2003 228 x 152 mm 340pp 8 tables 1 map Origins of the French Welfare 0 521 82094 4 Hardback c. £35.00 Forthcoming State 0 521 52783 X Paperback c. £14.95 A New Economic History of The Struggle for Social Reform in France, Publication April 2003 Argentina 1914–1947 New in Paperback Edited by Gerardo della Paolera Paul V. Dutton The American University of Paris Northern Arizona University The Monied Metropolis New York City and the Consolidation of the and Alan M. Taylor This is the first comprehensive analysis of American Bourgeoisie, 1850–1896 University of California, Davis public and private welfare in France Sven Beckert Not since the publication of Carlos Díaz available in English or French, which offers Harvard University, Massachusetts Alejandro’s Essays on the Economic History of a deeply-researched explanation of how the Argentine Republic in 1970 has there France’s welfare state came to be and why The first comprehensive history of the been a new standard reference for those the French are so attached to it. most powerful group in the nineteenth- century United States: New York City’s seeking a more quantitative understanding New Studies in European History economic elite. By the end of the Gilded of Argentina’s development. In the 2002 228 x 152 mm 266pp 4 tables 12 figures intervening years research in the ‘new 0 521 81334 4 Hardback £45.00 Age upper-class New Yorkers had consolidated themselves into a self- economic history’ has crafted a more Forthcoming conscious social class that put their stamp sophisticated interpretation of the past. on the major issues of the day. 2003 228 x 152 mm 300pp 37 line diagrams The French Economy in the 82 tables 2002 228 x 152 mm 512pp 15 line diagrams 0 521 82247 5 Hardback c. £40.00 Twentieth Century 32 half-tones 4 maps Publication August 2003 Jean-Pierre Dormois 0 521 52410 5 Paperback c. £17.95 Publication December 2002 Is France still an exception in Europe, or Nugget Coombs have the French come back into line? In New A Reforming Life this textbook, Jean Pierre Dormois surveys The Market, the State, and the Tim Rowse France’s spectacular economic Export-Import Bank of the United Australian National University, Canberra transformation over the past century. The States, 1934–2000 H. C. Coombs was one of the most book gives a general introduction to the William H. Becker influential Australians of the twentieth major transformation of French society and century. Born in 1906, he is best known as illustrates modern economic development. George Washington University, Washington DC and William McClenahan the governor of the central bank, but the New Studies in Economic and Social History breadth of his activities and his 2003 216 x 138 mm 110pp This is the first history of the Export- commitment to public life until his death 0 521 66092 0 Hardback c. £25.00 Import Bank of the United States (Ex-Im) is unsurpassed. 0 521 66787 9 Paperback c. £9.95 based on archival sources. Ex-Im has played Publication June 2003 2002 228 x 152 430pp 8 half-tones a part in all of the major events that 0 521 81783 8 Hardback £50.00 Forthcoming marked the growing involvement of the New Women at the Gates United States in the international economy. 2003 228 x 152 mm 384pp 4 tables Nation, State and the Economy in Gender and Industry in Stalin’s Russia 0 521 81143 0 Hardback £55.00 History Wendy Z. Goldman Publication April 2003 Carnegie Mellon University, Pennsylvania Edited by Alice Teichova Forthcoming University of Cambridge In the 1930s, the Soviet working class grew and Herbert Matis at an unprecedented rate, changing in size The Global Coffee Economy in Wirtschaftsuniversität Wien, Austria and social composition. Women at the Gates Africa, Asia, and Latin America, is the story of a world remade, from above 1500–1960 This book addresses the rarely-explored and from below, as women entered waged Edited by Steven Topik subject of the reciprocal relationships labor in unprecedented numbers. University of California, Irvine between nationalism, nation and state- 2002 228 x 152 mm 314pp 15 half-tones and William Clarence-Smith building, and economic change. Analysis of 25 tables School of Oriental and African Studies, University of the economic element in the building of 0 521 78064 0 Hardback £47.50 London nations and states cannot be confined to 0 521 78553 7 Paperback £17.95 This volume analyzes the creation and Europe, and therefore these diverse yet Forthcoming function of commodity, labor, and financial interlinked case-studies cover all markets; the role of race, ethnicity, gender, continents. The European Miracle 2003 228 x 152 mm 466pp Environments, Economies and Geopolitics in and class in the formation of coffee 0 521 79278 9 Hardback c. £50.00 the History of Europe and Asia societies; the interaction between Publication March 2003 Third edition technology and ecology; and the impact of Eric Jones colonial powers, nationalist regimes, and University of Reading the forces of the world economy in the Why did modern states and economies forging of economic development and develop first in the peripheral and late- political democracy. coming culture of Europe? Eric Jones sees 2003 228 x 152 mm 350pp 28 tables 10 maps 0 521 81851 6 Hardback c. £40.00 the economic condition forming where Publication April 2003 natural environments and political systems meet: Europe’s economic rise is explained as a favoured interaction between them, contrasting with the frustrating pattern of their interplay in the Ottoman empire, India and China. Economic Development and Growth 37

Journal Journal Journal The Journal of Economic History Financial History Review International Review of Social Editors: Gavin Wright Editors: Youssef Cassis History Stanford University University of Grenoble II Executive Editor: Marcel van der Linden and C. Knick Harley and Philip Cottrell Internationaal Instituut voor Sociale Geschiedenis University of Western Ontario University of Leicester Published for the Internationaal Instituut Published for the Economic History Published for the European Association for voor Sociale Geschiedenis Association Banking History With a long-established reputation, The Journal of Economic History is devoted Financial History Review is an international International Review of Social History is to the interdisciplinary study of history and forum for scholars with interests in the widely regarded as one of the pioneering economics, and is of interest not only to development of banking, finance, and journals in its field. It is internationally economic historians but to social and monetary matters. Its editors deliberately renowned for the quality, depth and demographic historians, as well as seek to embrace the broadest approach to originality of its articles, and provides an economists in general. The journal has publishing research findings within this essential resource for scholars and broad coverage, in terms of both method growing historical specialism. The Review’s researchers across the discipline of social and geographic scope. Topics include chronological concern begins with the history. It also publishes book reviews, a money and banking, trade, manufacturing, emergence of market economies. Similarly, bibliography of social history titles, and an technology, transportation, industrial its geographical scope is global: annual supplement of specially organisation, labour, agriculture, servitude, international and comparative studies are commissioned essays on a current topic. demography, education, and the role of published alongside those focused upon Subscriptions government and regulation. In addition, an national, regional, and local affairs. Articles Volume 48 in 2003: April, August and extensive review section includes the latest address cultural and social aspects as well as December, plus supplement Institutions print and electronic: £95/$151 books in economic history and related the interrelations between politics and Institutions electronic only: £85/$135 fields. finance. Individuals print only: £42/$64 Subscriptions Subscriptions American Sociological Association, American Historical Volume 63 in 2003: March, June, Volume 10 in 2003: April and October Association, American Political Science Association: September and December Institutions print and electronic: £32/$51 Institutions print and electronic: £93/$144 £66/$109 Canadian Labour History Association, Australian Labour Institutions electronic only: £85/$129 Institutions electronic only: £60/$100 History Association, British Society for the Study of Special arrangements exist for members of Economic Individuals print only: £33/$53 Labour History, Subscribers to Labour/Le Travail: £23/$37 History Association. American Historical Association, American Political Print ISSN 0020-8590 Individuals members of the Journal Science Association: £18/$30 Electronic ISSN 1469-512X Special arrangements exist for members of European Journal Association for Banking History. Print ISSN 0968-5650 European Review of Economic Electronic ISSN 1474-0052 Economic History Journal Development and Editors: Stephen Broadberry University of Warwick International Labor and Working- Growth Giovanni Federico Class History Universita de Pisa Editors: Joshua Freeman New and Rainer Fremdling Queens College The Role of Social Capital in University of Groningen Michael Hanagan Development New School for Social Research Published for the European Historical An Empirical Assessment and Victoria Hattam Economics Society Edited by Christiaan Grootaert New School for Social Research European Review of Economic History The World Bank provides an important new source of ILWCH explores diverse topics from and Thierry van Bastelaer insight into European economic history, globalisation and workers’ rights to class University of Maryland, College Park which is accessible to readers from a variety and consumption, labour movements, class Foreword by Robert Puttnam of different backgrounds. The objective is identity, unions, and working-class politics. In recent years the role of social capital to further research, scholarship, and Comparative and cross-disciplinary, the – defined as the institutions and understanding of economic structure, journal is of interest to historians, networks of relationships between change, and economic development in sociologists, political scientists, and people, and the associated norms and Europe since early modern times. The students. values – in programs of poverty Review includes full-length articles, shorter Subscriptions alleviation and development has risen to articles, notes and comments, debates, Volumes 63-64 in 2003: Spring and Fall Institutions print and electronic: considerable prominence. Although survey articles, and review articles. £46/$70 development practitioners have long Subscriptions Institutions electronic only: £41/$62 Volume 7 in 2003: April, August and Individuals print only: £22/$33 suspected that social capital does affect December Special arrangements exist for members of Labor and the efficiency and quality of most Institutions print and electronic: £82/$131 Working Class History Association. development processes, this book is the Institutions electronic only: £74/$118 Print ISSN 0147-5479 first to provide the rigorous empirical Individuals print only: £38/$57 Electronic ISSN 1471-6445 American Historical Association, American Political results needed to confirm that Science Association: £26/$42 impression and translate it into effective Special arrangements exist for members of the and informed policymaking. It is based European Historical Economics Society. Print ISSN 1361-4916 on a large volume of newly collected Electronic ISSN 1474-0044 data, relying equally on quantitative and

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qualitative research methodologies to New Advance praise: establish new approaches for measuring India Working ‘Professor Huang is fast becoming one social capital and its impact. The book Essays on Society and Economy of the most influential voices in the documents the pervasive role of social Barbara Harriss-White American academy on the subject of the capital in accelerating poverty alleviation University of Oxford Chinese economy. This is a book that and rural development, facilitating the will have a major impact on scholars provision of goods and services, and and indeed on investors, and maybe easing political transition and recovery even on China itself. It will surely from civil conflicts. change the way that contemporary 2002 228 x 152 mm 382pp 3 line diagrams Chinese political economy is studied 87 tables 5 graphs 0 521 81291 7 Hardback £45.00 and taught in universities.’ William Kirby, Harvard University Forthcoming Benefit-Cost Analysis ‘A fresh and fascinating perspective on the role of foreign investment in China. Financial and Economic Appraisal using Spreadsheets Huang counters the praise common in Harry Campbell discussions of Chinese development by University of Queensland arguing that high levels of foreign and Richard Brown investment arise, in part, from the University of Queensland failure of the Chinese state to allocate domestic savings efficiently. The book is This text offers the perfect introduction to sure to provoke debate over Chinese social benefit-cost analysis. The first part By drawing on her extensive fieldwork in development model as the country deals with the basic theory and procedures. moves toward full membership in the In Part Two some more advanced material, India and on the adjacent theoretical literature, Barbara Harriss-White describes World Trade Organization.’ mainly dealing with the valuation of Susan Rose-Ackerman, Yale University internationally tradeable goods and projects the working of the Indian economy that affect market prices, is presented. Part through its most important social Cambridge Modern China Series Three introduces a number of special structures of accumulation. Successive 2003 228 x 152 mm 400pp 5 line diagrams topics including the treatment of risk and chapters explore a range of topics including 25 tables labour, capital, the state, gender, religious 0 521 81428 6 Hardback £40.00 uncertainty, income distributional effects Publication February 2003 and the valuation of non-marketed goods. plurality, caste and space. The author’s Throughout the text the emphasis is on intimate knowledge of the country enables New applications, and a worked case study is the reader to experience the Indian local scene and to engage with the Taxation without Representation progressively undertaken as an illustration in Contemporary Rural China of the analytical principles in operation. precariousness of daily life. Her conclusion Thomas P. Bernstein The volume has several unique features: the challenges the prevailing notion that Columbia University, New York close integration of spreadsheet analysis liberalisation releases the economy from and Xiaobo Lü with analytical principles; the spreadsheet political interference and leads to a Barnard College, New York approach provides an invaluable cross- postscript on the economic base for fascism check on the accuracy of the appraisal; and in India. the book is structured in a way that allows Contemporary South Asia, 8 readers to choose the level of analysis which 2003 228 x 152 mm 336pp is relevant to their own purposes. 0 521 80979 7 Hardback £45.00 0 521 00763 1 Paperback £16.95 2003 247 x 174 mm 352pp 0 521 82146 0 Hardback c. £60.00 New Publication June 2003 Selling China Foreign Direct Investment During the Reform Era Yasheng Huang Harvard Business School The book proposes a radically different perspective on China’s integration in the world economy. Most economists view China’s large foreign direct investment (FDI) inflows as a result of China’s economic success. This book views the The financial burden imposed upon the same phenomenon as a function of the Chinese farmer by local taxes has become a imperfections in the Chinese economic major source of discontent in the Chinese system. It uses economic theory to explain countryside and a worrisome source of FDI to a greater extent than previous political and social instability for the studies on the same topic. The book also Chinese government. Bernstein and Lü presents comparative FDI data of a number examine the forms and sources of heavy, of countries while most of the previous informal taxation, and shed light on how studies only contained data on China. peasants defend their interests by adopting strategies of collective resistance Economic Development and Growth 39

(both peaceful and violent). Bernstein and The Institutional Economics of Macroeconomic Policies of Lü also explain why the central government, while often siding with the Foreign Aid Developed Democracies peasants, has not been able to solve the Bertin Martens Robert J. Franzese, Jr burden problem by instituting a sound, European Commission University of Michigan, Ann Arbor reliable financial system in the countryside. Uwe Mummert This book synthesizes and extends modern While the regime has, to some extent, Max Planck Institute, Jena political-economic theory to explain the sought to empower farmers to defend their Peter Murrell postwar evolution of macroeconomic interests – by informing them about tax University of Maryland, College Park policy in developed democracies. Chapters rules, expanding the legal system, and and Paul Seabright II–IV study transfers, debt, and instituting village elections, for example, Université de Toulouse monetary/wage policy-making and these attempts have not yet generated Foreword by Elinor Ostrom outcomes. enough power from ‘below’ to counter This book is about the institutions, Cambridge Studies in Comparative Politics powerful, local official agencies. incentives and constraints that guide the 2002 228 x 152 mm 332pp 69 line diagrams Cambridge Modern China Series behaviour of people and organizations 20 tables 0 521 80294 6 Hardback £55.00 2003 228 x 152 mm 304pp 15 line diagrams involved in the implementation of foreign 0 521 00441 1 Paperback £19.95 18 tables aid programmes. While traditional 0 521 81318 2 Hardback c. £45.00 Publication February 2003 performance studies tend to focus almost Health Policy in a Globalising exclusively on the policies and institutions World New in recipient countries, this book looks at Edited by Kelley Lee incentives in the entire chain of Banking in Modern China London School of Hygiene and Tropical Medicine organizations involved in the delivery of Entrepreneurs, Enterprises, and the Kent Buse foreign aid, from donor governments and Development of Chinese Banks, 1897–1937 Yale University, Connecticut agencies to consultants, experts and other Linsun Cheng and Suzanne Fustukian intermediaries. Four aspects of foreign aid University of Massachusetts, Dartmouth Queen Margaret College, Edinburgh delivery are examined in detail: incentives This is the first book to document in inside donor agencies, the interaction of Increasing recognition of the impact that English the evolution of modern Chinese subcontractors with recipient organizations, globalisation may be having on public banking, from the establishment in 1897 incentives inside recipient country health has led to widespread concern about of the first Chinese bank along a Western institutions, and biases in aid performance the risks arising from emerging and re- model, to the abrupt interruption of monitoring systems. emerging diseases, environmental professional banking by the Japanese 2002 216 x 138 mm 212pp 15 line diagrams degradation and demographic change. This invasion in 1937. Drawing from original 0 521 80818 9 Hardback £40.00 book argues that health policy making is documents of major Chinese banks, Linsun being affected by globalisation and that Cheng explains how and why the banks New these effects are, in turn, contributing to were able, despite a succession of foreign Finance, Intermediaries, and the kind of global health issues being faced and domestic crises, to grow into viable Economic Development today. The book explores how the actors, and self-sustaining institutions in China. Edited by Stanley L. Engerman context, processes and content of health Rich with new, unpublished historical University of Rochester, New York policy are changing as a result of details, this book offers an original, Philip T. Hoffman globalisation, raising concerns about comprehensive narrative of the origins and California Institute of Technology growing differences in who can influence growth of professional banks. This book Jean-Laurent Rosenthal health policy, what priorities are set, what provides a critical missing piece in the University of California, Los Angeles interventions are deemed appropriate and literature on China’s economic history and and Kenneth L. Sokoloff ultimately who enjoys good and bad modernization in the pre-war period. University of California, Los Angeles health. Bringing together a distinguished, Cheng also recounts early experiences with international group of contributors, this This volume includes ten essays dealing Chinese banking reform that resonate book covers a comprehensive range of with financial and other forms of economic today as useful lessons to Chinese topics and geographic regions and will be intermediation in Europe, Canada, and the policymakers assessing options for financial invaluable for all those interested in health, United States since the seventeenth reform. social and public policy and globalisation. century. Each relates the development of Cambridge Modern China Series 2002 228 x 152 mm 362pp 9 line diagrams 2003 228 x 152 mm 300pp 16 half-tones institutions to economic change and 14 tables 43 tables describes their evolution over time, as well 0 521 80419 1 Hardback £47.50 0 521 81142 2 Hardback £47.50 as discussing several different forms of 0 521 00943 X Paperback £17.95 Publication March 2003 intermediation, and deals with significant economic and historical issues. 2003 228 x 152 mm 335pp 28 line diagrams 1 half-tone 42 tables 0 521 82054 5 Hardback c. £35.00 Publication March 2003

Visit our website at www.cambridge.org 40 Economic Systems

Crony Capitalism Journal Economic Systems Corruption and Development in South Korea Journal of Latin American Studies and the Philippines Editors: Paul Cammack Forthcoming Textbook David C. Kang University of Manchester Dartmouth College, New Hampshire Economic Transition in Central and James Dunkerley and Eastern Europe Why has the literature on Asian University of London Daniel Gros development not addressed the issue of Associate Editor: Rachel Sieder Centre for European Policy Studies, Brussels money politics in Korea? How can we University of London reconcile the view of an efficient and Alfred Steinherr With over 30 years of continuous developmental state in Korea before 1997 Universita di Bolzano publication, Journal of Latin American with reports of massive corruption and Analysing the key problems facing the Studies presents recent research in the field inefficiency in that same country in 1998 transition countries in Central and of Latin American studies in economics, and 1999? Eastern Europe, this accessible book geography, politics, international relations, describes the legacy of the central Cambridge Studies in Comparative Politics sociology, social anthropology, economic planners, the progress achieved so far 2002 228 x 152 mm 220pp 11 line diagrams history and cultural history. Regular 56 tables and the need for further reforms. It features include articles on contemporary 0 521 80817 0 Hardback £40.00 documents the outstanding successes themes, specially commissioned 0 521 00408 X Paperback £14.95 and failures, and analyses why certain commentaries and an extensive section of approaches to transition have worked State and Market in Post-Mao book reviews. There is no commitment to and other have not. It tests where any political viewpoint or ideology. China transition is over and shows how some Subscriptions The Competitive Advantage of Firms After countries have graduated from Communism Volume 35 in 2003: February, May, ‘transition’ to ‘integration’ through their Yi-min Lin August and November Institutions print and electronic: £136/$212 efforts to join the European Union Hong Kong University of Science and Technology Institutions electronic only: £122/$190 (EU). It discusses the costs and benefits State and Market in Post-Mao China Individuals print only: £52/$80 Students: £29/$45 of the eastern enlargement of the EU. examines how the decline of central Society for Latin American Studies, Asociacion de The specific experiences of German planning was related to the rise of two Historiadores Latinamericanstas: £32/$50 unification, the Soviet Union’s markets: an economic market for the Special arrangements exist for members of the Latin disintegration, and Russia’s complex exchange of products and factors, and a American Studies Association. Print ISSN 0022-216X reforms are examined, as are the specific political market for the diversion to private Electronic ISSN 1469-767X issues that need to be addressed in the interests of state assets and authorities. Balkans. The book concludes by Structural Analysis in the Social Sciences, 18 Also of interest indicating how the expanding EU could 2002 228 x 152 mm 270pp 3 line diagrams Journal help the poor performers through 17 tables 0 521 77130 7 Hardback £45.00 inclusion in a continent-wide integrated The Journal of Modern African economic area. Studies Also of interest Editor: Christopher Clapham ‘…masterful analysis of the process of Cambridge University Centre transition to a market economy… of African Studies Journal essential reading..’ The Journal of Modern African Studies offers George Soros The China Quarterly a quarterly survey of developments in Editor: Julia Strauss modern African politics and society. Its Contents: Part I. The Rise and Decline School of Oriental and African Studies main emphasis is on current issues in of Communism: An Overview: 1. From Published for the School of Oriental and African politics, economies, societies and pre-war Russia to the fall of African Studies international relations. It is intended not Communism; 2. The obsession with only for students and academic specialists, growth; Part II. Transition: 1990–2000: The China Quarterly is the leading 3. Transition: the job; 4. Transition: ten scholarly journal in its field, covering all but also for general readers and practitioners with a concern for modern years later; 5. Transition: unfinished aspects of contemporary China including business; Part III: Extreme Cases for Taiwan. Its interdisciplinary approach Africa, living and working both inside and outside the continent. Editorial policy Reform: Scope for Disagreements: covers a range of subjects including 6. German unification: an example of anthropology/sociology, literature and the avoids commitment to any political viewpoint or ideology, but aims at a fair big-bang reform; 7. The disintegration arts, business/economics, geography, of the Soviet Union; 8. Russia: after a history, international affairs, law, and examination of controversial issues in order to promote a deeper understanding of what lost decade Phoenix rises from the politics. Edited to rigorous standards the ashes?; Part IV. The New Europe from journal publishes high-quality, authoritative is happening in Africa today. Subscriptions the Atlantic to the Urals: 9. Eastern research, keeping readers up to date with enlargement; 10. Saving the Balkans; events in China. Volume 41 in 2003: March, June, September and December 11. The outlook; Bibliography. Subscriptions Institutions print and electronic: £138/$216 2003 246 x 189 mm 400pp 11 half-tones Volumes 173-176 in 2003: March, June, Institutions electronic only: £124/$194 22 tables 23 graphs 4 maps September and December Individuals print only: £48/$76 0 521 82638 1 Hardback c. £55.00 Institutions print and electronic: £89/$147 Past contributors, African Studies Association: £32/$52 0 521 53379 1 Paperback c. £19.95 Institutions electronic only: £84/$139 Print ISSN 0022-278X Publication July 2003 Individuals print only: £40/$69 Electronic ISSN 1469-7777 Students: £20/$35 Print ISSN 0305-7410 Electronic ISSN 1468-2648 Environmental and Natural Resource Economics 41

Building Capitalism Environmental and Contents: Foreword David W. Pearce; The Transformation of the Former Soviet 1. Introduction; 2. Recreation: valuation Bloc Natural Resource methods; 3. Recreation: predicting Anders Aslund Economics values; 4. Recreation: predicting visits; Carnegie Endowment for International Peace, 5. Timber valuation; 6. Modelling and Washington DC mapping timber yield and value; New This book offers the most comprehensive 7. Modelling and valuing carbon empirical analysis of the economic Applied Environmental sequestration in trees, timber products transformation of the countries comprising Economics and forest soils; 8. Modelling the former Soviet bloc during the first A GIS Approach to Cost-benefit Analysis opportunity cost: agricultural output decade after communism. Ian J. Bateman values; 9. Cost benefit analysis using University of East Anglia GIS; 10. Conclusions and future ‘Building Capitalism has all the right Andrew A. Lovett directions. ingredients: it is on a critically University of East Anglia 2003 247 x 174 mm 360pp 35 line diagrams important issue; it is based on an and Julii S. Brainard 3 colour plates 67 tables extraordinarily detailed knowledge of 0 521 80956 8 Hardback c. £45.00 University of East Anglia Publication March 2003 economic and political history, pre- and post- the break-up of the former Soviet Forthcoming Union; and it displays a full Economic Theory and Global acquaintance with the literature, Anders Warming Aslund’s naturally exuberant style, and a clear point of view. Whether you agree Hirofumi Uzawa or disagree with the argument, you University of Tokyo should not be indifferent to this book. In this book, Professor Uzawa modifies and And by the end, you should extends the theoretical premises of fundamentally agree.’ orthodox economic theory to those Stanley Fischer, sufficiently broad enough to be capable of International Monetary Fund analyzing the phenomena related to environmental disequilibrium, particularly 2002 228 x 152 mm 528pp 13 line diagrams 62 tables global warming, and of finding 0 521 80139 7 Hardback £55.00 institutional arrangements and policy 0 521 80525 2 Paperback £19.95 measures that may bring about a more optimal state where natural and Forthcoming institutional components are harmoniously From Mao to Market blended. He constructs a theoretical The complex real world interactions Rent-Seeking, Local Protectionism, and framework in which three major problems between the economy and environment Marketization in China concerning global environmental issues form both the focus of and main barrier Andrew Wedeman may effectively addressed. First, all to applied research within the field of University of Nebraska, Lincoln phenomena involved with global environmental economics. However, environmental issues exhibit externalities of This book argues that China succeeded in geographical information systems (GIS) one kind or another. Secondly, global moving from a Maoist command economy allow economists to tackle such environmental issues involve international to a market economy because the central complexity head on by directly and intergenerational equity and justice. government failed to prevent local incorporating diverse data sets into Thirdly, global environmental issues governments from forcing prices to market applied research rather than resorting to concern the management of the levels. The ‘resource wars’ that resulted simplifying and often unrealistic atmosphere, the oceans, water, soil, and from partial price reform in the early 1980s assumptions. This innovative book other natural resources that have to be cleared the way for sweeping reforms. applies GIS techniques to spatial cost- decided by a consensus of all affected Cambridge Modern China Series benefit analysis of a complex and topical countries. 2003 228 x 152 mm 250pp 10 line diagrams land use change problem, the 4 tables 2003 228 x 152 mm 200pp 5 line diagrams 0 521 80960 6 Hardback c. £37.50 conversion of agricultural land to 3 tables Publication August 2003 multipurpose woodland, looking in 0 521 82386 2 Hardback c. £37.50 detail at issues such as opportunity Publication July 2003 costs, recreation, carbon storage, etc., and embracing cross cutting themes such as the evaluation of environmental preferences and the spatial transfer of benefit functions.

‘A fine example of economic valuation being put to imaginative and unique use by some of the most exciting practitioners of the art of economic valuation.’ David W. Pearce (from the Foreword)

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New drawn on all available data sources to New Public Participation in assess the benefits and costs of land-use Biodiversity, Sustainability and Sustainability Science change in the region. Moreover, key Human Communities A Handbook findings are presented without resort to Protecting Beyond the Protected Edited by Bernd Kasemir technical jargon, which guarantees that Edited by Tim O’Riordan Harvard University, Massachusetts the book’s impacts will be far-reaching.’ University of East Anglia Jill Jäger Douglas Southgate, and Susanne Stoll-Kleemann International Human Dimensions Programme, Bonn Ohio State University Potsdam Institute for Climate Impact Research Carlo C. Jaeger 2002 228 x 152 mm 281pp 2 half-tones 60 tables The rate at which the planet is losing its Potsdam Institute for Climate Impact Research 22 figures 1 map biodiversity, the implications of this loss, 0 521 81197 X Hardback £45.00 and Matthew T. Gardner and possible remedies are the subject of Biogen Inc. New much public and academic debate. Foreword by William C. Clark Biodiversity, Sustainability and Human Harvard University, Massachusetts Environmental Dilemmas and Policy Design Communities advocates the preservation of and Alexander Wokaun biodiversity through a mix of strict Paul Scherrer Institute, Viligen, Switzerland Huib Pellikaan protection, inclusive involvement of people The participation of citizens and other Rijksuniversiteit Leiden, The Netherlands inside and adjacent to reserves, and by stakeholders is increasingly important for and Robert J. van der Veen combining livelihoods and social well-being policy making on the environment and University of Amsterdam in all future biodiversity management. Case sustainable development. The contributors According to the logic of collective action, studies from regions around the world are to this book examine methods for mere awareness of the causes of examined and discussed, and the facilitating public participation on a local environmental degradation will not contributors include political scientists, and global level. The authors thus suggest motivate rational agents to reduce economists and ecologists. consultation procedures which integrate pollution. Yet some government policies 2002 228 x 152 mm 334pp 5 line diagrams scientific modelling with democratic aim to enlist citizens in schemes of 1 half-tone 26 tables 2 graphs 3 maps 0 521 81365 4 Hardback £45.00 decision-making processes. voluntary cooperation, drawing on an 0 521 89052 7 Paperback £16.95 2003 228 x 152 mm 302pp 21 figures ethos of collective responsibility. Are such 0 521 81818 4 Hardback c. £47.50 policies doomed to failure? This book New 0 521 52144 0 Paperback c. £17.95 Publication March 2003 provides a novel application of rational Sustaining Abundance choice theory to a large-scale survey of Environmental Perfomance in Industrial New environmental attitudes in The Democracies The Dynamics of Deforestation Netherlands. Its main findings are that Lyle Scruggs and Economic Growth in the rational citizens are motivated to cooperate University of Connecticut towards a less polluted environment to a Brazilian Amazon Attention to environmental problems in large extent, but that their willingness to the social sciences has brought some bold Lykke Andersen assume responsibility depends on the social generalizations about causes of good Catholic University of Bolivia, La Paz context of the collective action problem results, but almost no systematic cross- Clive W. J. Granger they face. This empirical study is an national studies that flesh out major University of California, San Diego important volume in the development of a theoretical arguments and test those claims Eustaquio J. Reis more consistent foundation for rational Institute for Applied Economic Research, Rio de Janeiro with data. This study makes a seminal choice theory in policy analysis, which contribution to that effort in two ways. Diana Weinhold seeks to clarify major theoretical issues London School of Economics and Political Science First, by taking environmental outcomes concerning the role of moral commitment, over the last thirty years as the central and Sven Wunder self-interest and reciprocity in Center for Development Research, Denmark dependent variable, it provides a basis for environmental behaviour. Presenting an economic perspective of evaluating national performance in deforestation in the Brazilian Amazon, the Advance praise: reducing environmental problems. Second, by developing a data set including authors make use of a uniquely rich set of ‘This is social science at its best. Instead performance in a number of countries and economic and ecological data spanning the of taking casual looks at very important elaborating on major explanations of whole of the Brazilian Amazon to examine concepts, they have teased apart an environmental performance found in the the extent to which land clearing promotes important foundation of modern social literature. economic activity and growth and at what science theory, and developed a large ecological cost. Their assessment of the data set that enables them to examine Cambridge Studies in Comparative Politics costs and benefits of deforestation in the 2003 228 x 152 mm 272pp 24 line diagrams piece by piece this important concept. 34 tables world’s largest rainforest have important What a gem!’ 0 521 81672 6 Hardback £40.00 policy implications and will be essential Elinor Ostrom, Indiana University 0 521 01692 4 Paperback £15.95 reading for all environmental and Publication February 2003 development economists, ecologists and Theories of Institutional Design policy-makers. 2002 228 x 152 mm 262pp 25 line diagrams 28 tables Advance praise: 0 521 62156 9 Hardback £47.50 0 521 62764 8 Paperback £16.95 A book on the Brazilian Amazon, the world’s largest tropical forest, always demands one’s attention and this volume is an especially worthy addition to the literature. The authors have Environmental and Natural Resource Economics 43

The Skeptical Environmentalist Navigating Social-Ecological Climate Change 2001: The Scientific Basis Measuring the Real State of the World Systems Contribution of Working Group I to the Third Assessment Report of the Intergovernmental Panel Bjørn Lomborg Building Resilience for Complexity and on Climate Change Aarhus Universitet, Denmark Change Edited by J. T. Houghton Edited by Fikret Berkes Co-Chair of Working Group I, IPCC ‘This is one of the most valuable books University of Manitoba, Canada Y. Ding on public policy – not merely on Johan Colding Co-Chair of Working Group I, IPCC D. J. Griggs environmental policy – to have been Beijer International Institute of Ecological Economics, Head of Technical Support Unit, Working Group I, IPCC Stockholm written for the intelligent reader in the M. Noguer past ten years … The Skeptical and Carl Folke Deputy Head of Technical Support Unit, Working Group I, IPCC Environmentalist is a triumph.’ Beijer International Institute of Ecological Economics, P. J. van der Linden The Economist Stockholm Project Administrator, Technical Support Unit, Working Group I, IPCC Drawing on complex systems theory, this ‘… a superbly documented and readable and x. Dai book investigates how linked social- Visiting Scientist, Technical Support Unit, Working Group I, book.’ ecological systems build capacity to adapt IPCC Wall Street Journal to uncertainty and change. This book 2001 279 x 215 mm 892pp 72 line diagrams merges forefront research from different 169 colour plates 75 tables ‘Lomborg’s book has drawn considerable 0 521 80767 0 Hardback £90.00 disciplines, with case studies from several 0 521 01495 6 Paperback £34.95 attention. Although it may cause geographic areas, cultures and resource problems for the more militant and Climate Change 2001: Mitigation types, into a common framework for new political environmentalists, it should be Contribution of Working Group III to the Third insights on sustainability. welcomed by anyone genuinely Assessment Report of the Intergovernmental Panel 2002 228 x 152 mm 416pp 5 line diagrams on Climate Change concerned about the environment. … 30 half-tones 13 tables 35 figures Edited by Bert Metz Lomborg’s book sheds needed light on 0 521 81592 4 Hardback £65.00 Co-chair, Working Group III of the IPCC, Head International the real state of the world. I recommend Environmental AssessmentsNational Institute of Public Health it to anyone interested in our global and Environment (RIVM), Netherlands Climate Change Ogunlade Davidson environment … It should be required Working Group III of the IPCC reading for all legislators, government Rob Swart bureaucrats and corporate executives New Working Group III of the IPCC who preside over the ever-increasing and Jiahua Pan Climate Change 2001: Synthesis Working Group III of the IPCC array of environmental regulations and Report 2001 279 x 215 mm 702pp 100 line diagrams politics. Third Assessment Report of the 15 half-tones 50 colour plates 75 tables John P. Bluemle, Geotimes Intergovernmental Panel on Climate Change 0 521 80769 7 Hardback £90.00 0 521 01502 2 Paperback £34.95 Edited by Robert T. Watson 2001 247 x 174 mm 540pp 9 tables 162 graphs 0 521 80447 7 Hardback £47.50 Intergovernmental Panel on Climate Change Climate Change 2001: Impacts, Adaptation, 0 521 01068 3 Paperback £17.95 The Climate Change 2001 volumes of the and Vulnerability Third Assessment Report of the IPCC Contribution of Working Group II to the Third New in Paperback Assessment Report of the Intergovernmental Panel provide the most comprehensive assessment on Climate Change Real Science of climate change since its second report, Edited by James J. McCarthy What it Is and What it Means Climate Change 1995. This Synthesis Report Museum of Comparative Zoology, Harvard University John Ziman provides a policy-relevant, but not policy- Osvaldo F. Canziani The National Universities of La Plata and Comahue, Argentina University of Bristol prescriptive, synthesis and integration of Neil A. Leary This systematic, carefully reasoned, but information contained within the Third IPCC Working Group II Technical Support Unit non-technical analysis of the nature and Assessment Report and also draws upon all David J. Dokken significance of scientific knowledge opens previously approved and accepted IPCC IPCC Working Group II Technical Support Unit and Kasey S. White the way to reconciliation in the ‘science reports that address a broad range of key IPCC Working Group II Technical Support Unit wars’. By describing how academic policy-relevant questions. For this reason it 2001 279 x 215 mm 1042pp 90 line diagrams scientists actually undertake research and will be especially useful for policy makers 28 colour plates 119 tables communicate their findings, it shows that and researchers, and as a main or 0 521 80768 9 Hardback £90.00 0 521 01500 6 Paperback £34.95 the philosophy, psychology and sociology supplementary student textbook for courses of science are inextricably entwined. in environmental studies, meteorology, Innovative Energy Strategies for 2002 228 x 152 mm 412pp 20 half-tones climatology, biology, ecology, and CO2 Stabilization 0 521 89310 0 Paperback £16.95 atmospheric chemistry. Edited by Robert G. Watts ‘… essential reading for anyone Tulane University, Louisiana interested in global environmental This book discusses the feasibility of change, either past, present, or future. increasingly efficient energy use and the … These volumes have a deservedly potential for supplying energy from sources high reputation.’ that do not introduce CO2. It will be Geological Magazine essential reading for engineers/physicists, and industrial leaders and politicians. It 2002 279 x 215 mm 408pp 107 colour plates 47 tables will also be used as a supplementary 0 521 80770 0 Hardback £75.00 textbook on advanced courses on energy. 0 521 01507 3 Paperback £27.95 2002 253 x 177 mm 468pp 102 line diagrams 3 half-tones 36 tables 0 521 80725 5 Hardback £60.00

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Journal agglomeration under Marshallian Regional Economics externalities; 9. Industrial agglomeration Environment and Development under monopolistic competition; Part IV. Economics Textbook Urban Systems and Regional Growth: Editor: Charles Perrings Economics of Agglomeration 10. Back to von Thünen: the formation of University of York Cities, Industrial Location, and Regional cities in a spatial economy; 11. On the Published in association with the Beijer Growth relationship between agglomeration and Institute of Ecological Economics, Royal Masahisa Fujita growth. Swedish Academy of Sciences Kyoto University, Japan 2002 228 x 152 mm 478pp 73 line diagrams and Jacques-Francois Thisse 0 521 80138 9 Hardback £60.00 This journal, firmly positioned at the Université Catholique de Louvain, Belgium 0 521 80524 4 Paperback £20.95 intersection of economics, environment and development, publishes original papers Textbook addressed to the research and policy An Introduction to Geographical communities, and is designed to be Economics accessible to a broad readership. The Editor Trade, Location and Growth and Associate Editors are supported by Steven Brakman distinguished panels of advisors from Rijksuniversiteit Groningen, The Netherlands around the world, who together ensure that Harry Garretsen the journal is a major forum for key University of Leiden, The Netherlands research conducted in low-income and Charles van Marrewijk countries as well as elsewhere, and for the Erasmus University, Rotterdam work of younger scholars. The journal is divided into two main sections, Theory and Applications and Policy Options. Subscriptions Volume 8 in 2003: February, May, July and October Institutions print and electronic: £133/$199 Institutions electronic only: £118/$179 This book provides the first unifying Individuals print only: £46/$69 Individuals in low-income countries: £25 treatment of the range of economic reasons International Society for Ecological Economics, European for the clustering of firms and households. Society for Ecological Economics, Association of Its goal is to explain further the trade-off Environmental and Resource Economists, European Association of Environmental and Resource Economists, between various forms of increasing returns African Studies Association: £36/$52 and different types of mobility costs. The Print ISSN 1355-770X main focus of the treatment is on cities, Electronic ISSN 1469-4395 but it also explores the formation of other agglomerations, such as commercial districts within cities, industrial clusters at the regional level, and the existence of imbalance between regions. It may be used in coursework for graduate students and An integrated, non-mathematical, first- talented upper-level undergraduates. principles textbook presenting geographical economics to advanced students. Never ‘This is a wonderfully informative book avoiding advanced concepts, its emphasis is on spatial economics, by two of the best on examples, diagrams, and empirical people in the field. I learned a lot that I evidence, making it the ideal starting point didn’t know, and so will you. Better before delving into monographic and than any book so far, this integrates journal material. concepts that range from ‘edge cities’ to Contents: 1. A first look at geography, global divergence into a single grand trade and development; 2. Geography and view.’ economic theory; 3. The core model of Paul Krugman, Princeton University geographical economics; 4. Solutions and Contents: 1. Agglomeration; Part I. simulations; 5. Geographical economics Fundamentals of Geographical Economics: and empirical evidence; 6. Refinements and 2. The breakdown of the price system in a extensions; 7. Cities and congestion: the spatial economy; 3. The von Thünen economics of Zipf’s Law; 8. Agglomeration model and land rent formation; and international business; 9. The structure 4. Increasing returns vs. transportation of international trade; 10. Dynamics and costs: the fundamental tradeoff of a spatial economic growth; 11. The policy economy; 5. Cities and the public sector; implications and value added of Part II. The Structure of Metropolitan geographical economics; References. Areas: 6. The spatial structure of cities 2001 247 x 174 mm 374pp 48 tables 89 figures 0 521 77039 4 Hardback £60.00 under communication externalities; 7. The 0 521 77967 7 Paperback £22.95 formation of urban centers under imperfect competition; Part III. Factor Mobility and Industrial Location: 8. Industrial Author and Title Index 45

Business History around the World at the Dewar, James A., 30 Author and Title Turn of the Twenty-First Century, 34 Dewatripont, Mathias, 8, 9 Index Bussani, Mauro, 28 Differential Games in Economics and Byman, Daniel L., 25 Management Science, 12 Dijk, Dick van, 6 A C Ding, Y., 43 Abrahamson, Eric John, 34 Cambridge History of Western Textiles, Discrete Choice Methods with Simulation, Adamowicz, Wiktor, 7 The, 35 4 Advances in Economics and Econometrics: Campbell, Harry, 38 Divided Welfare State, The, 26 Theory and Applications, 8, 9 Canziani, Osvaldo F., 43 Dnes, Antony, 28 Alternatives for Welfare Policy, 25 Caprio, Gerard, 20 Dockner, Engelbert J., 12 Altug, Sumru, 16 Carroll, R. J., 5 Dokken, David J., 43 Amatori, Franco, 34 Cass, Deborah Z., 18 Dopfer, Kurt, 2 An Introduction to Economic Dynamics, Causality in Macroeconomics, 3 Dormois, Jean-Pierre, 36 11 Chacko, George, 21 Dow, Gregory K., 29 An Introduction to Geographical Chadha, Jagjit, 16 Drucker, Peter F., 31 Economics, 44 Champ, Bruce, 17 Dutton, Paul V., 36 Analysis of Panel Data, 9 Chan, Sylvia, 27 Dynamic Macroeconomic Analysis, 16 Andersen, Lykke, 42 Chang, Kelly, 16 Dynamics of Coercion, The, 25 Andersen, Torben M., 25 Chang, Sea-Jin, 18 Dynamics of Deforestation and Economic Angeloni, Ignazio, 14 Changing Face of Central Banking, The, Growth in the Brazilian Amazon, The, Antitrust Law, 28 15 42 Anytime, Anywhere, 34 Cheng, Linsun, 39 Aoki, Masanao, 11 China and the World Trading System, 18 E Applied Environmental Economics, 41 Clarence-Smith, William, 36 Ebrahim, Alnoor, 32 Applied Latent Class Analysis, 11 Clark, Lindie, 33 Eckes, Alfred E., 34 Appointing Central Bankers, 16 Clark, William C., 42 Econometric Analysis of Seasonal Time Aslund, Anders, 41 Clarke, F. L., 32 Series, The, 7 Assumption-Based Planning, 30 Climate Change 2001: Impacts, Econometric Foundations, 6 Asymmetric Information in Financial Adaptation, and Vulnerability, 43 Econometric Modelling of Financial Time Markets, 21 Climate Change 2001: Mitigation, 43 Series, The, 7 Climate Change 2001: Synthesis Report, Econometric Theory, 10 B 43 Econometrics of Qualitative Dependent Baldwin, John R., 30 Climate Change 2001: The Scientific Basis, Variables, 7 Banking in Modern China, 39 43 Economic Concepts for the Social Sciences, Barker, George, 18 Colding, Johan, 43 1 Barnett, William A., 17 Colli, Andrea, 35 Economic Crisis and Corporate Barr, Nicholas, 24 Computation and Complexity in Restructuring in Korea, 19 Barzel, Yoram, 25 Economic Behavior and Organization, 2 Economic Dynamics, 11 Bateman, Hazel, 24 Concise Introduction to Econometrics, A, Economic Policy in the International Bateman, Ian J., 41 5 Economy, 20 Baz, Jamil, 21 Corak, Miles, 13 Economic Theory and Global Warming, Bebczuk, Ricardo, 21 Corporate Collapse, 32 41 Becker, William H., 36 Corporate Entrepreneurship, 31 Economic Transition in Central and Beckert, Sven, 36 Corporate Insolvency Law, 27 Eastern Europe, 40 Beetsma, Roel, 16 Course in Financial Calculus, A, 22 Economics and the Theory of Games, 2 Benefit-Cost Analysis, 38 Course in Public Economics, A, 23 Economics of Agglomeration, 44 Berkes, Fikret, 43 Cramer, J. S., 4 Economics of Contracts, The, 27 Bernstein, Thomas P., 38 Crony Capitalism, 40 Economics of Exchange Rates, The, 14 Bichler, Martin, 29 Cutler, Claire, 26 Economics of Network Industries, The, 29 Biodiversity, Sustainability and Human Edwards, Lindy, 1 Communities, 42 D El Sheikh, Fath El Rahman Abdalla, 27 Blackhurst, Richard, 21 Dai, x., 43 Emergence of Entrepreneurship Policy, Blyth, Mark, 26 Data Analysis and Graphics Using R, 5 The, 13 Brainard, Julii S., 41 Daunton, Martin, 35 Engerman, Stanley L., 39 Brakman, Steven, 44 Davidson, Ogunlade, 43 Enste, Dominik H., 24 Braun, John, 5 Davis, Lance E., 20 Entertainment Industry Economics, 22 Breton, Albert, 26 de Bijl, Paul, 28 Environmental Dilemmas and Policy British Trade Unions since 1933, 35 de la Croix, David, 1 Design, 42 Brooks, Chris, 4 De Rond, Mark, 32 Escape from Hunger and Premature Death, Brousseau, Eric, 27 Dean, G. W., 32 1700–2100, The, 35 Brown, Richard, 38 Decision Making using Game Theory, 33 Essays in Econometrics, 9, 10 Bruzelius, Nils, 33 Decisions and Elections, 3 Essays in Panel Data Econometrics, 6 Building a Dynamic Europe, 13 della Paolera, Gerardo, 36 Etheridge, Alison, 22 Building Capitalism, 41 Dempster, M. A. H., 22 European Macroeconomic Policies after Buse, Kent, 39 Designing Inclusion, 25 Monetary Unification, 16

For monthly email alerts visit www.cambridge.org/eservices 46 Author and Title Index

European Miracle, The, 36 Gourieroux, Christian, 7 International Perspectives on Consumers' Evolutionary Foundations of Economics, Governing from Below, 26 Access to Justice, 28 The, 2 Governing the Firm, 29 Internet Revolution, The, 29 Evolving Financial Markets and Granger, Clive W. J., 9, 10, 42 Introductory Econometrics for Finance, 4 International Capital Flows, 20 Graziani, Augusto, 3 Great Transformations, 26 J F Greenwald, Bruce, 14 Jackson, John H., 21 Fact and Fiction in Economics, 2 Greve, Henrich R., 31 Jaeger, Carlo C., 42 Faith, Ron, 31 Griggs, D. J., 43 Jäger, Jill, 42 Favero, Carlo, 16 Grootaert, Christiaan, 37 James, Harold, 34 Feinstein, Charles H., 35 Gros, Daniel, 40 Jarvis, Darryl, 33 Finance, Intermediaries, and Economic Grossbard-Shechtman, Shoshana, 13 Jenkins, David, 35 Development, 39 Gual, Jordi, 13 Jones, Eric, 36 Financial Crisis and Transformation of Jones, Geoffrey, 34 Korean Business Groups, 18 H Jorgensen, Steffen, 12 Financial Derivatives, 21 Hacker, Jacob S., 26 Journal of Public Policy, 27 Financial Liberalization, 20 Hagenaars, Jacques A., 11 Judge, George G., 6 Financing Human Capital, 24 Haggard, Stephan, 19 Jurisprudence of GATT and the WTO, Finch, Vanessa, 27 Hanagan, Michael, 37 The, 21 Finding a Common Interest, 33 Hanel, Petr, 30 Just Taxes, 35 Flandreau, Marc, 34 Hansen, Lars Peter, 8, 9 Flannery, Brian P., 12 Harriss-White, Barbara, 38 K Flyvbjerg, Bent, 33 Hart, David M., 13 Kagami, Mitsuhiro, 29 Fogel, Robert W., 35 Hattam, Victoria, 37 Kang, David C., 40 Folke, Carl, 43 Health Policy in a Globalising World, 39 Kasemir, Bernd, 42 Forced Saving, 24 Helpman, Elhanan, 20 Kashyap, Anil, 15 Forces of Labor, 25 Hensher, David A., 7 Kelly, Anthony, 33 Franses, Philip Hans, 5, 6, 33 Heracleous, Loizos, 31 Kennedy, Daniel L. M., 20 Franzese, Jr, Robert J., 39 Hillman, Arye L., 23 Keuzenkamp, Hugo A., 4 Freeman, Joshua, 37 History of Family Business, 1850–2000, Kim, Euysung, 19 Freeman, Scott, 17 The, 35 Kim, In-Moo, 7 French Economy in the Twentieth Century, Hoda, Anwarul, 20 Kingston, Geoffrey, 24 The, 36 Hoffman, Philip T., 39 Klassen, Paul B., 7 From Mao to Market, 41 Holtfrerich, Carl-Ludwig, 34 Kobrak, Christopher, 35 Fuente, Angel de la, 12 Honohan, Patrick, 20 Kumbhakar, Subal C., 4 Fujita, Masahisa, 44 Hoover, Kevin D., 3, 17 Fustukian, Suzanne, 39 Houghton, J. T., 43 L Future of e-Markets, The, 29 How to Argue with an Economist, 1 Labor, Capital, and Finance, 20 Future of the American Labor Movement, Hsiao, Cheng, 9 Law and Economics of Marriage and The, 25 Huang, Yasheng, 38 Divorce, The, 28 Future of U.S. Capitalism, The, 25 Huff, Anne, 32 Leach, John, 23 Hylton, Keith N., 28 Leary, Neil A., 43 G Lee, Kelley, 39 Galambos, Louis, 34 I Legal Regime of Foreign Private Galeotti, Gianluigi, 26 IMF and Economic Development, The, 19 Investment in Sudan and Saudi Arabia, Gallman, Robert E., 20 India Working, 38 The, 27 Gardner, Matthew T., 42 Informality and Monetary Policy in Japan, LeRoy, Stephen F., 21 Garretsen, Harry, 44 15 Liberalism, Democracy and Development, Generalized Method of Moments Information Efficiency in Gambling 27 Estimation, 8 Markets, 13 Lim, Wonhyuk, 19 Generational Income Mobility in North Innovation and Knowledge Creation in an Lin, Yi-min, 40 America and Europe, 13 Open Economy, 30 Lines, Marji, 11 Ghysels, Eric, 7, 9, 10 Innovative Energy Strategies for CO2 Logit Models, 4 Gilbert, Christopher, 18 Stabilization, 43 Lomborg, Bjørn, 43 Giovannetti, Emanuele, 29 Institutional Economics of Foreign Aid, Long, Ngo Van, 12 Glachant, Jean-Michel, 27 The, 39 Louviere, Jordan J., 7 Global Capital, Political Institutions, and International Business Risk, 33 Lovell, C. A. Knox, 4 Policy Change in Developed Welfare International Financial Governance under Lovett, Andrew A., 41 States, 27 Stress, 19 Lü, Xiaobo, 39 Global Coffee Economy in Africa, Asia, International Financial History in the and Latin America, 1500–1960, The, 36 Twentieth Century, 34 M Globalization and the American Century, International Labor and Working-Class Machine Dreams, 1 34 History, 37 Macroeconomic Dynamics, 17 Globalization and the Poor, 18 International Law from Below, 28 Macroeconomic Policies of Developed Goldman, Wendy Z., 36 International Monetary Fund and its Democracies, 39 Gordon, Robert J., 15 Critics, The, 18 Macroeconomics for Emerging Markets, 16 Author and Title Index 47

Maddala, G. S., 7 New Economic History of Argentina, A, Public Participation in Sustainability Mahadeva, Lavan, 15 36 Science, 42 Maindonald, John, 5 NGOs and Organizational Change, 32 Pure Economic Loss in Europe, 28 Mäki, Uskali, 2 Noguer, M., 43 Puttnam, Robert, 38 Making History Count, 35 Nolan, Charles, 16 Management Decision Making, 33 Non-Linear Time Series Models in Q Mandle, Jay R., 18 Empirical Finance, 6 Quantitative Models in Marketing Market, the State, and the Export-Import Nonlinear Dynamics, 11 Research, 33 Bank of the United States, 1934–2000, Nugget Coombs, 36 The, 36 Numerical Recipes Example Book (C++), R Marrewijk, Charles van, 44 12 Rajagopal, Balakrishnan, 28 Marriage and the Economy, 13 Numerical Recipes in C++, 12 Razin, Assaf, 20 Martens, Bertin, 39 Numerical Recipes Multi-Language Code Reaching the Interactive Customer, 31 Martin, Will, 19 CD ROM with LINUX or UNIX Single- Real Science, 43 Mathematical Methods and Models for Screen License, 12 Regulation and Entry into Economists, 12 Numerical Recipes Multi-Language Code Telecommunications Markets, 28 Matis, Herbert, 36 CD ROM with Windows, DOS, or Reis, Eustaquio J., 42 Matrix Calculus and Zero-One Matrices, 6 Macintosh Single-Screen License, 12 Reiter, Stanley, 2 Matyas, Laszlo, 8 Numerical Recipes Source Code in C and Rethinking Performance Measurement, 30 McAleer, Michael, 4 C++ CD ROM with Windows or Rickett, Charles E. F., 28 McCarthy, James J., 43 Macintosh Single-Screen License, 12 Rise of Commercial Empires, The, 35 McClenahan, William, 36 Risk Management, 22 McCutcheon, Allan L., 11 O Role of Social Capital in Development, Medieval Economic Thought, 35 O'Riordan, Tim, 42 The, 37 Medio, Alfredo, 11 Oliver, K. G., 32 Rose, Richard, 27 Megaprojects and Risk, 33 Open Corporation, The, 31 Rosenthal, Jean-Laurent, 39 Methodology of Empirical Options for Global Trade Reform, 19 Ross, Sheldon M., 12 Macroeconomics, The, 17 Organizational Learning from Performance Rothengatter, Werner, 33 Metz, Bert, 43 Feedback, 31 Rowse, Tim, 36 Meyer, Marshall W., 30 Origins of the French Welfare State, 36 Rowthorn, Robert, 28 Michel, Philippe, 2 Ormrod, David, 35 Ruppert, D., 5 Mieszkowski, Peter, 25 Osborn, Denise R., 7 Russia's Economic Transitions, 34 Miller, Douglas J., 6 Ostrom, Elinor, 39 Mills, Terence C., 7 S Mirowski, Philip, 1 P Saari, Donald G., 3 Missale, Alessandro, 16 Paap, Richard, 33 Sadka, Efraim, 20 Mittelhammer, Ron C., 6 Palacios, Miguel, 24 Salmon, Pierre, 26 Modeling Aggregate Behavior and Palm, Franz, 5 Sandler, Todd, 1 Fluctuations in Economics, 11 Palmer, Vernon, 28 Sarno, Lucio, 14 Modeling Monetary Economies, 17 Pan, Jiahua, 43 Sathe, Vijay, 31 Mojon, Benoit, 15 Pangestu, Mari, 19 Satisficing Games and Decision Making, Molander, Per, 25 Parker, Christine, 31 31 Monahan, George E., 33 Peitz, Martin, 28 Sauer, Jr., Raymond D., 13 Monetary Policy Transmission in the Euro Pellikaan, Huib, 42 Schneider, Friedrich, 24 Area, 14 Performance and Rewards Management, Scruggs, Lyle, 42 Monetary Theory of Production, The, 3 31 Seabright, Paul, 39 Monetary Transmission in Diverse Phelps, Edmund S., 25 Sell, Susan, 26 Economies, 15 Phillips, Peter C. B., 10 Sellers, Jefferey M., 26 Monied Metropolis, The, 36 Piggott, John, 24 Selling China, 38 Montiel, Peter J., 16 Political Economy of International Trade Semiparametric Regression, 5 Moore, Mike, 17 Law, The, 20 Semiparametric Regression for the Applied Mount, Kenneth R., 2 Political Extremism and Rationality, 26 Econometrician, 7 Moving Money, 24 Poverty, Progress and Population, 35 Shadow Economy, The, 24 Mueller, Dennis C., 22 Press, William H., 12 Shields, John, 31 Mummert, Uwe, 39 Principles of Financial Economics, 21 Shone, Ronald, 11 Murrell, Peter, 39 Private Power and Global Authority, 26 Shy, Oz, 29 Muscatelli, Anton, 16 Private Power, Public Law, 26 Siklos, Pierre L., 15 Probability in the Engineering and Silver, Beverly J., 25 N Informational Sciences, 12 Simplicity, Inference and Modelling, 4 Natale, Piergiovanna, 16 Probability Theory and Statistical Sinclair, Peter, 15 Nation, State and the Economy in History, Inference, 6 Skeptical Environmentalist, The, 43 36 Productivity Growth, Inflation, and Social Choice and the Mathematics of National Cultures and International Unemployment, 15 Manipulation, 26 Competition, 35 Pryor, Frederic L., 25 Sokoloff, Kenneth L., 39 Navigating Social-Ecological Systems, 43 Public Choice III, 22 Sorger, Gerhard, 12 Nerlove, Marc, 6 Public Finance and Public Policy, 23 Southwick, James D., 20

Visit our website at www.cambridge.org 48 Author and Title Index

Spanos, Aris, 6 W Spulber, Nicolas, 34 Wand, M. P., 5 State and Market in Post-Mao China, 40 Watson, Mark, 9 Stated Choice Methods, 7 Watson, Mark W., 10 States in the Global Economy, 26 Watson, Robert T., 43 Steinherr, Alfred, 40 Watts, Robert G., 43 Stiglitz, Joseph E., 14, 20 Waxman, Matthew C., 25 Stirling, Wynn, 31 Wedeman, Andrew, 41 Stochastic Frontier Analysis, 4 Weinhold, Diana, 42 Stoll-Kleemann, Susanne, 42 Weiss, Linda, 26 Strategic Alliances as Social Facts, 32 Werner, Jan, 21 Strategy and Organization, 31 Wheeler, Hoyt N., 25 Structural Econometric Time Series White, Kasey S., 43 Analysis Approach, The, 5 Williams, Brett G., 18 Sustaining Abundance, 42 Wintrobe, Ronald, 26 Swait, Joffre D., 7 Wokaun, Alexander, 42 Swank, Duane, 27 Women at the Gates, 36 Swanson, Norman R., 9, 10 Wood, Diana, 35 Swart, Rob, 43 World Trade Organization, 21 World Trade Review, 21 T World Without Walls, A, 17 Tariff Negotiations and Renegotiations Wrigley, Chris, 35 under the GATT and the WTO, 20 Wrigley, E. A., 35 Taxation without Representation in WTO Agreements on CD-ROM Issue 1, Contemporary Rural China, 38 21 Taylor, Alan D., 26 Wunder, Sven, 42 Taylor, Alan M., 36 Taylor, Mark, 14 Y Teichova, Alice, 36 Yatchew, Adonis, 7 Telfer, Thomas G. W., 28 Teukolsky, Saul A., 12 Z Theory of Economic Growth, A, 1 Zeiler, Thomas W., 34 Theory of the State, A, 25 Zellner, Arnold, 4, 5 Thisse, Jacques-Francois, 44 Zhang, Xiaoke, 19 Thomas, Mark, 35 Ziman, John, 43 Tirelli, Patrizio, 16 Zodrow, George R., 25 Tomsen, Mai-lan, 31 Topik, Steven, 36 Towards a New Paradigm in Monetary Economics, 14 Train, Kenneth E., 4 Tsuji, Masatsugu, 29 Turkington, Darrell A., 6 Turnovsky, Stephen J., 8, 9

U Underhill, Geoffrey R. D., 19 Unit Roots, Cointegration, and Structural Change, 7 United States Tax Reform in the 21st Century, 25 Uzawa, Hirofumi, 41

V van Bastelaer, Thierry, 38 van der Linden, P. J., 43 van Rixtel, Adrian, 15 Vaughan-Williams, Leighton, 13 Veen, Robert J. van der, 42 Vega-Redondo, Fernando, 2 Verdier, Daniel, 24 Vetterling, William T., 12 Vines, David, 19 Vogel, Harold L., 22 Vreeland, James R., 19 Customer Services Cambridge University Press Bookshop Booksellers Cambridge University Press Bookshop For order processing and customer service, please contact: occupies the historic site of 1 Trinity Street, Cambridge CB2 1SZ, where UK International the complete range of titles is on sale. Sarah Wylie Phone + 44 (0)1223 325566 Clive Harrison Phone + 44 (0)1223 325577 Bookshop Manager: Cathy Ashbee Fax + 44 (0)1223 325959 Fax + 44 (0)1223 325151 Email [email protected] Email [email protected] Phone + 44 (0)1223 333333 Fax + 44 (0)1223 332954 Your telephone call may be monitored for training purposes. Email [email protected] Account-holding booksellers can order online at www.cambridge.org/booktrade

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Printed in the United Kingdom at the University Press, Cambridge Are you a supporter of globalisation or not? Do you think the WTO makes a difference for the poor? Mike Moore’s book A World Without Walls gives a unique insider-account on his time as Director-General of the WTO discussing the challenges of globalisation and offering provocative proposals on how the multilateral system should develop. Mike Moore, the Director-General of the World Trade Organization from 1999-2002, is a former New Zealand Prime Minister. In a long and distinguished career in politics, he also served in a number of senior political positions, including as Minister of Overseas Trade and Marketing, Minister of Foreign Affairs, and Minister of External Relations and Trade.

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Stiglitz: Nobel Prize Winner 2001 Towards a New Paradigm in Monetary Economics by Joseph E. Stiglitz and Bruce Greenwald Written out of the authors’ original thoughts and empirical observations while serving in some renowned economic organizations, the book provides a pioneer treatment of critical topics in monetary economics and insightful policy implications, among which are the 1991 US recession, the liberalization of financial markets, and the East Asian Crisis.

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