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During the recession in the years 2008-2009, the most severe for mature economies in the post-war period, housing markets were often mentioned as having a special responsibility. The objective of this book is to shed light on the cyclical behaviour of the housing markets, its fundamental determinants in terms of supply and demand characteristics, and its relationship with the overall business cycle. The co-movements of house prices across countries are also considered, as well as the channel of transmission of house price changes to the rest of the economy. Particular attention is paid to the effects on private consumption, through possible wealth effects. The book is a compilation of original papers produced by economists and researchers from the four main national central banks in the euro area, also with the participation of leading academics.
"Is the business cycle obsolete?" This often cited title of a book edited by Bronfenbren ner with the implicit affirmation of the question reflected the attitude of mainstream macroeconomics in the Sixties regarding the empirical relevance of cyclic motions of an economy. The successful income policies, theoretically grounded in Keynesian macroec onomics, seemed to have eased or even abolished the fluctuations in West,ern economies which motivated studies of many classical and neoclassical economists for more than 100 years. The reasoning behind the conviction that business cycles would increasingly become irrelevant was rather simple: if an economy fluctuates for whatever reason, then it is almost always possible to neutralize these cyclic motions by means of anti-cyclic demand policies. From the 1950's until the mid-Sixties business cycle theory had often been consid ered either as an appendix to growth theory or as an academic exercise in dynamical economics. The common business cycle models were essentially multiplier-accelerator models whose sensitive dependence on parameter values (in order to be called busi ness cycle models) suggested a rather improbable occurrence of continuing oscillations. The obvious success in compensating business cycles in those days prevented intensive concern with the occurrence of cycles. Rather, business cycle theory turned into sta bilization theory which investigated theoretical possibilities of stabilizing a fluctuating economy. Many macroeconomic textbooks appeared in the Sixties which consequently identified business cycle theory with inquiries on the possibilities to stabilize economies 2 Introduction by means of active fiscal or monetary policies.
This book is a case study of Vietnam's efforts to fight poverty using market-oriented land reforms. In the 1980s and 1990s, the country undertook major institutional reforms, and an impressive reduction in poverty followed. But what role did the reforms play? Did the efficiency gains from reform come at a cost to equity? Were there both winners and losers? Was rising rural landlessness in the wake of reforms a sign of success or failure? 'Land in Transition' investigates the impacts on living standards of the two stages of land law reform: in 1988, when land was allocated to households administratively and output markets were liberalized; and in 1993, when official land titles were introduced and land transactions were permitted for the first time since communist rule began. To fully assess the poverty impacts of these changes, the authors' analysis of household surveys is guided by both economic theory and knowledge of the historical and social contexts. The book delineates lessons from Vietnam's experience and their implications for current policy debates in China and elsewhere.
Psychologists, economists, historians, computer scientists, sociologists, philosophers, and legal scholars explore the conscious choice not to seek information. The history of intellectual thought abounds with claims that knowledge is valued and sought, yet individuals and groups often choose not to know. We call the conscious choice not to seek or use knowledge (or information) deliberate ignorance. When is this a virtue, when is it a vice, and what can be learned from formally modeling the underlying motives? On which normative grounds can it be judged? Which institutional interventions can promote or prevent it? In this book, psychologists, economists, historians, computer scientists, sociologists, philosophers, and legal scholars explore the scope of deliberate ignorance.
Software engineering, is widely recognized as one of today's most exciting, stimulating, and profitable research areas, with a significant practical impact on the software industry and academia. The LASER school, held annually since 2004 on Elba Island, Italy, is intended for professionals from industry (engineers and managers) as well as university researchers, including PhD students. This book contains selected lecture notes from the LASER summer schools 2008-2010, which focused on concurrency and correctness in 2008, software testing in 2009, and empirical software engineering, in 2010.
The study of intuition and its relation to thoughtful reasoning is a burgeoning research topic in psychology and beyond. While the area has the potential to radically transform our conception of the mind and decision making, the procedures used for establishing empirical conclusions have often been vaguely formulated and obscure. This book fills a gap in the field by providing a range of methods for exploring intuition experimentally and thereby enhancing the collection of new data. The book begins by summarizing current challenges in the study of intuition and gives a new foundation for intuition research. Going beyond classical dual-process models, a new scheme is introduced to classify the different types of processes usually collected under the label of intuition. These new classifications range from learning approaches to complex cue integration models. The book then goes on to describe the wide variety of behavioural methods available to investigate these processes, including information search tracing, think aloud protocols, maximum likelihood methods, eye-tracking, and physiological and non-physiological measures of affective responses. It also discusses paradigms to investigate implicit associations and causal intuitions, video-based approaches to expert research, methods to induce specific decision modes as well as questionnaires to assess individual preferences for intuition or deliberation. By uniquely providing the basis for exploring intuition by introducing the different methods and their applications in a step-by-step manner, this text is an invaluable reference for individual research projects. It is also very useful as a course book for advanced decision making courses, and could inspire experimental explorations of intuition in psychology, behavioural economics, empirical legal studies and clinical decision making.
A typical characterization of EuroSPI is reflected in a statement made by a c- pany: “. . . the biggest value of EuroSPI lies in its function as a European knowledge and experience exchange mechanism for SPI and innovation. ” Since its beginning in 1994 in Dublin, the EuroSPI initiative has outlined that there is not a single silver bullet to solve SPI issues, but that you need to understand a c- bination of different SPI methods and approaches to achieve concrete benefits. The- fore each proceedings volume covers a variety of different topics, and at the conf- ence we discuss potential synergies and the combined use of such methods and - proaches. These proceedings contain selected research papers for five topics: Section I: SPI Tools Section II: SPI Methods Section III: SPI in SMEs Section IV: Economic Aspects of SPI Section V: The Future of SPI Section I presents studies on SPI tools. The authors provide an insight into new tools which can be used for SPI. Willem Bekkers et al. present a new assessment method and tool for software product management. Ismael Edrei-Espinosa-Curiel et al. illustrate a graphical approach to support the teaching of SPI. Paul Clarke and coworkers deal with an analysis and a tool to help real adoption of standards like ISO 12207 and they focus on SPI implementation and practices. Esparanca Amengual et al. present a new team-based assessment method and tool.
This book constitutes the refereed proceedings of the 8th International IFIP WG 2.13 Conference on Open Source Systems, OSS 2012, held in Hammamet, Tunisia, in September 2012. The 15 revised full papers presented together with 17 lightning talks, 2 tool demonstration papers, 6 short industry papers, 5 posters and 2 workshop papers were carefully reviewed and selected from 63 submissions. The papers are organized in topical sections on collaboration and forks in OSS projects, community issues, open education and peer-production models, integration and architecture, business ecosystems, adoption and evolution of OSS, OSS quality, OSS in different domains, product development, and industrial experiences.
Industrial Ecology (IE) is an emerging multidisciplinary field. University departments and higher education programs are being formed on the subject following the lead of Yale University, The Norwegian University of Science and Technology (NTNU), Leiden University, University of Michigan at Ann Arbor, Carnegie Mellon University, University of California at Berkeley, Institute for Superior Technology in Lisbon, Eidgenössische Technische Hochschule (ETH) Zürich, and The University of Tokyo. IE deals with stocks and flows in interconnected networks of industry and the environment, which relies on a basic framework for analysis. Among others, Input-Output Analysis (IOA) is recognized as a key conceptual and analytical framework for IE. A major challenge is that the field of IOA manifests a long history since the 1930s with two Nobel Prize Laureates in the field and requires considerable analytical rigor. This led many instructors and researchers to call for a high-quality publication on the subject which embraces both state-of-the-art theory and principles as well as practical applications.
Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This volume brings together the collected contributions on the theme of robust mechanism design and robust implementation that Dirk Bergemann and Stephen Morris have been working on for the past decade. The collection is preceded by a comprehensive introductory essay, specifically written for this volume with the aim of providing the readers with an overview of the research agenda pursued in the collected papers.The introduction selectively presents the main results of the papers, and attempts to illustrate many of them in terms of a common and canonical example, namely a single unit auction with interdependent values. It is our hope that the use of this example facilitates the presentation of the results and that it brings the main insights within the context of an important economic mechanism, namely the generalized second price auction.