Starting point of this book is the observation that an increase in public debt must be accompanied by a rise in the primary surplus of the government to guarantee sustainability of public debt. The book first elaborates on that principle from a theoretical point of view and then tests whether...

This contributed volume combines approaches of the current inequality debate with aspects of finance based on profound macroeconomic model analyses. Research on inequality has had a long tradition in economics. With the financial crisis from 2007, not only output decreased tremendously, but also...

Chapter 1 Managing, Inducing, and Preventing Regime Shifts: A Review of the Literature -- Chapter 2 Institutional change, education and population growth: lessons from dynamic modelling -- Chapter 3 Poverty Traps and Disaster Insurance in a Bi-Level Decision Framework -- Chapter 4 Rationally...

This book examines sustainable wealth formation and dynamic decision-making. The global economy experienced a veritable meltdown of asset markets in the years 2007-9, where many funds were overexposed to risky returns and suffered considerable losses. On the other hand, the long-term upswing in...

Editorial -- Market Dynamics With Heterogeneous Agents: Allocative Efficiency and Traders' Protection Under Zero Intelligence Behavior -- Using Software Agents to Supplement Tests Conducted by Human Subjects -- Diversification Effect of Heterogeneous Beliefs -- Can Investors Benefit from Using...

This book deals with the application of wavelet and spectral methods for the analysis of nonlinear and dynamic processes in economics and finance. It reflects some of the latest developments in the area of wavelet methods applied to economics and finance. The topics include business cycle...

Interactions between Economy and Climate: Climate Change and Technical Progress: Impact of Informational Constraints -- Environmental Policy in a Dynamic Model with Heterogeneous Agents and Voting -- Optimal Environmental Policy in the Presence of Multiple Equilibria and Reversible Hysteresis --...