The Walras Pareto Lectures
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The Walras-Pareto Lectures
Author | : Ecole des hautes études commerciales (Lausanne, Suisse). |
Publisher | : |
Total Pages | : 0 |
Release | : 1994 |
Genre | : |
ISBN | : |
Barriers to Riches
Author | : Stephen L. Parente |
Publisher | : MIT Press |
Total Pages | : 188 |
Release | : 2002-01-25 |
Genre | : Business & Economics |
ISBN | : 9780262264082 |
Why isn't the whole world as rich as the United States? Conventional views holds that differences in the share of output invested by countries account for this disparity. Not so, say Stephen Parente and Edward Prescott. In Barriers to Riches, Parente and Prescott argue that differences in Total Factor Productivity (TFP) explain this phenomenon. These differences exist because some countries erect barriers to the efficient use of readily available technology. The purpose of these barriers is to protect industry insiders with vested interests in current production processes from outside competition. Were this protection stopped, rapid TFP growth would follow in the poor countries, and the whole world would soon be rich. Barriers to Riches reflects a decade of research by the authors on this question. Like other books on the subject, it makes use of historical examples and industry studies to illuminate potential explanations for income differences. Unlike these other books, however, it uses aggregate data and general equilibrium models to evaluate the plausibility of alternative explanations. The result of this approach is the most complete and coherent treatment of the subject to date.
The Prudential Regulation of Banks
Author | : Mathias Dewatripont |
Publisher | : |
Total Pages | : 0 |
Release | : 1994-12 |
Genre | : Banking law |
ISBN | : 9780262513869 |
The Prudential Regulation of Banks applies modern economic theory to prudential regulation of financial intermediaries. Dewatripont and Tirole tackle the key problem of providing the right incentives to management in banks by looking at how external intervention by claimholders (holders of equity or debt) affects managerial incentives and how that intervention might ideally be implemented. Their primary focus is the regulation of commercial banks and S&Ls, but many of the implications of their theory are also valid for other intermediaries such as insurance companies, pension funds, and securities funds. Observing that the main concern of the regulation of intermediaries is solvency (the relation between equity, debt, and asset riskiness), the authors provide institutional background and develop a case for regulation as performing the monitoring functions (screening, auditing, convenant writing, and intervention) that dispersed depositors are unable or unwilling to perform. They also illustrate the dangers of regulatory failure in a summary of the S&L crisis of the 1980s. Following a survey of banking theory, Dewatripont and Tirole develop their model of the capital structure of banks and show how optimal regulation can be achieved using capital adequacy requirements and external intervention when banks are violated. They explain how regulation can be designed to minimize risks of accounting manipulations and to insulate bank managers from macroeconomic shocks, which are beyond their control. Finally, they provide a detailed evaluation of the existing regulation and of potential alternatives, such as rating agencies, private deposit insurance, and large private depositors. They show that these reforms are, at best, a complement, rather than a substitute, to the existing regulation which combines capital ratios with external intervention in case of insolvency. The Prudential Regulation of Banks is part of the Walras Pareto Lectures, from the Universiy of Lausanne.
Pricing the Priceless
Author | : H. Spencer Banzhaf |
Publisher | : Cambridge University Press |
Total Pages | : 299 |
Release | : 2023-10-31 |
Genre | : Business & Economics |
ISBN | : 1108853064 |
Historians of social science will benefit from the detailed examination of how economics expanded into new areas like the environment. Environmental historians will benefit from an understanding of how economics claimed to be 'on the side' of the environment. Environmental economists will benefit from the contextualization of their field.
Polarized America
Author | : Nolan McCarty |
Publisher | : MIT Press |
Total Pages | : 253 |
Release | : 2006-06-16 |
Genre | : Political Science |
ISBN | : 0262134640 |
An analysis of how the increasing polarization of American politics has been accompanied and accelerated by greater income inequality, rising immigration, and other social and economic changes.
Pricing the Priceless
Author | : Joseph P. Newhouse |
Publisher | : Mit Press |
Total Pages | : 258 |
Release | : 2002 |
Genre | : Business & Economics |
ISBN | : 9780262640589 |
A study of medical care pricing and its social, political, and economic consequences.
The Failure of Judges and the Rise of Regulators
Author | : Andrei Shleifer |
Publisher | : |
Total Pages | : 0 |
Release | : 2012 |
Genre | : Administrative procedure |
ISBN | : 9780262016957 |
Government regulation is ubiquitous today in rich and middle-income countries--present in areas that range from workplace conditions to food processing to school curricula--although standard economic theories predict that it should be rather uncommon. In this book, Andrei Shleifer argues that the ubiquity of regulation can be explained not so much by the failure of markets as by the failure of courts to solve contract and tort disputes cheaply, predictably, and impartially. When courts are expensive, unpredictable, and biased, the public will seek alternatives to dispute resolution. The form this alternative has taken throughout the world is regulation. The Failure of Judges and the Rise of Regulators gathers Shleifer's influential writings on regulation and adds to them a substantial introductory essay in which Shleifer critiques the standard theories of economic regulation and proposes "the Enforcement Theory of Regulation," which sees regulation as the more efficient strategy for social control of business. Subsequent chapters present the theoretical and empirical case against the efficiency of courts, make the historical and theoretical case for the comparative efficiency of regulation, and offer two empirical studies suggesting circumstances in which regulation might emerge as an efficient solution to social problems. Shleifer does not offer an unconditional endorsement of regulation and its expansion but rather argues that it is better than its alternatives, particularly litigation.
The History of Economic Thought: A Reader
Author | : Steven G Medema |
Publisher | : Routledge |
Total Pages | : 674 |
Release | : 2004-02-24 |
Genre | : Business & Economics |
ISBN | : 1134627033 |
This new reader in the history of economic thought is edited by two of the most respected figures in the field. With clearly written summaries putting each selection into context, this book will be of great use to students and lecturers of the history of economic thought as it goes beyond the simple reprinting of articles. Selections and discussions include such thinkers as Aristotle, John Locke, François Quesnay, David Hume, Jean-Baptiste Say, Karl Marx, William Stanley Jevons, Irving Fisher and Thorstein Veblen. The History of Economic Thought: A Reader can be used as a core textbook or as a supplementary text on courses in economic thought and philosophy, and will provide readers with a good foundation in the different schools of thought that run through economics.