This paper explores long wave theory, including Kondratieff's theory of cycles in production and relative prices; Kuznets's theory of cycles arising from infrastructure investments; Schumpeter's theory of cycles due to waves of technological innovation; Goodwin's theory of cyclical growth based...

Recent history suggests that many boom–bust cycles are naturally driven by linkages between the credit market and asset prices. Additionally, new structured securities have been developed, e.g., MBS, CDOs, and CDS, which have acted as instruments of risk transfer. We show that there is a...

This authoritative collection of key papers provides an overview of the subject from its beginnings through to current scholarship in this area.

This text analyzes the macroeconomics of global warming, especially the economics of possible preventative measures, various policy changes, and potential effects of climate change on developing and developed nations.

This edited volume, with contributions by area experts, offers discussions on a range of evolving topics in economics and social development. At center are important issues central to sustainable development, economic growth, technological change, the economics of climate change, commodity...

This paper responds to the development policy debate involving the World Bank and the IMF on the use of fiscal policy not only for economic stabilization but also to promote economic growth and increase per capita income. A key issue in this debate relates to the effect of the composition of...

Frontmatter -- Contents -- Preface and Acknowledgments -- Symbols -- Part 1 . On Theories of Competition and Their Empirical Predictions -- Chapter 1. Introduction and Overview -- Chapter 2. On Theories of Competition -- Part 2. Empirical Evidence on Industrial and Corporate Pricing and...

In this paper we construct a model of stock market, interest rate and output interaction which is a generalization of the well known 1981 model of Blanchard. We allow for imperfect substitutability between stocks and bonds in the asset market and for lagged portfolio adjustment. The reaction of...