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The second edition of an innovative undergraduate textbook in Comparative Economic Systems that goes beyond the traditional dichotomies.
A conceptual and analytical framework for understanding economic institutions and institutional change. Markets are one of the most salient institutions produced by humans, and economists have traditionally analyzed the workings of the market mechanism. Recently, however, economists and others have begun to appreciate the many institution-related events and phenomena that have a significant impact on economic performance. Examples include the demise of the communist states, the emergence of Silicon Valley and e-commerce, the European currency unification, and the East Asian financial crises. In this book Masahiko Aoki uses modern game theory to develop a conceptual and analytical framework for understanding issues related to economic institutions. The wide-ranging discussion considers how institutions evolve, why their overall arrangements are robust and diverse across economies, and why they do or do not change in response to environmental factors such as technological progress, global market integration, and demographic change.
The paper reviews the recent conduct of monetary policy and the central bank's rule-based behavior in Russia. Using different policy rules, we test whether the Bank of Russia reacts to changes in inflation, the output gap and the exchange rate in a consistent and predictable manner. Our results indicate that, during the period from 1993 to 2004, the Bank of Russia used monetary aggregates as the main policy instrument. Some estimations provide evidence that the Bank of Russia was more concerned with reducing inflation before 1995, while the priorities shifted towards exchange rate stabilization after 1995.
A comprehensive reevaluation of the nature of economic systems across the globe, A New View of Comparative Economic Systems is today's choice for today's world. This exciting text is not merely a re-treading of an obsolete Soviet-oriented text, but a fresh, new, and comprehensive reappraisal of the nature and study of economic systems. A New View of Comparative Economic Systems defines a new approach and will set the standard for years to come in Comparative Economic courses.
Hollander investigates the relation of Malthusian economics to that of the other great classicists - particularly Smith, Ricardo, J.B. Say, and the French physiocrats. He redefines our common perception of Malthus's method and character.
This is a book about how 21st-century capitalism really works. Modern economics strips away social, historical, and political context from analysis of 'the economic', but the economy is far too important to leave exclusively to the economists. Comparative Political Economy (CPE) is a much broader, richer intellectual undertaking which 're-embeds' the analysis of the economic within the social and political realm. This is at the heart of how to think like a political economist. This text maps the terrain and evolution of CPE, providing the analytical tools to explore the many variants of capitalism, unearthing their roots in competing visions of the desirable distribution of the fruits of growth. Connecting CPE systematically to the subfield of International Political Economy (IPE), the book explains how these visions generate ongoing political struggles over how to regulate and manage capitalism. This is the perfect introduction to the field for all students of CPE and IPE. New to this Edition: - Fully revised and updated throughout to take into account the latest empirical and theoretical developments in this fast-moving field - A brand New chapter on the political economy of inequality, populism, Trump & Brexit - New expanded 'how to use this book' aimed at student readers - More coverage of the types of economies covered, to move from an exclusively Western focus to cover developing and emerging global economies
This book comprises key essays on comparative regionalism and, more broadly, on regional conflict and cooperation by Professor Etel Solingen. The study of regionalism, a subject pioneered by Solingen in the 1990s, is now an established field of inquiry, with a large community of scholars and practitioners around the world. This book provides a window into an evolving conceptual framework for comparing regional arrangements, with a special emphasis on non-European regions. Framed by a comprehensive, previously unpublished introduction, the chapters provide a broad spectrum of analysis on domestic political economy, democracy, regional institutions, and global forces as they shape different regional outcomes and trajectories in economics and security. Themes as different as the regional effects of democratization in the Middle East and East Asia, the rise of China, Euro-Mediterranean relations, and regional nuclear trajectories are traced back to a common analytical core. The nature of domestic ruling coalitions serves as the pivotal analytical anchor explaining the effects of globalization and economic reform on different regional arrangements. This collection provides a focal point that brings this work together in a new light and will be of much interest to students of regionalism, international relations theory, international and comparative political economy, international history and grand strategy.
Since the Middle Ages, literature has portrayed the economic world in poetry, drama, stories and novels. The complexity of human realities highlights crucial aspects of the economy. The nexus linking characters to their economic environment is central in a new genre, the "economic novel", that puts forth economic choices and events to narrate social behavior, individual desires, and even non-economic decisions. For many authors, literary narration also offers a means to express critical viewpoints about economic development, for example in regards to its ecological or social ramifications. Conflicts of economic interest have social, political and moral causes and consequences. This book shows how economic and literary texts deal with similar subjects, and explores the ways in which economic ideas and metaphors shape literary texts, focusing on the analogies between economic theories and narrative structure in literature and drama. This volume also suggests that connecting literature and economics can help us find a common language to voice new, critical perspectives on crises and social change. Written by an impressive array of experts in their fields, Economics and Literature is an important read for those who study history of economic thought, economic theory and philosophy, as well as literary and critical theory.
As an empirical science, economics employs theoretical models to describe economic phenomena and processes. These models are then used to generate testable propositions. Comparative statics analysis facilitates the derivation of such propositions. This book is a self-contained introduction to comparative statics analysis which is appropriate for a first year PhD course in mathematics for economists. The demands that modern economic analysis places upon the student renders an incremental approach to learning essential. This permits students' intuition to develop as mathematical tools are employed in problem solving. In this book, students learn comparative statics by doing comparative statics in progressively more sophisticated models. Repeated application of the basic technique allows the student to gain competence in comparative statics analysis with minimal distraction.