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A comprehensive introduction to contract theory, emphasizing common themes and methodologies as well as applications in key areas. Despite the vast research literature on topics relating to contract theory, only a few of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fills the need for a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels. It covers the areas of agency theory, information economics, and organization theory, highlighting common themes and methodologies and presenting the main ideas in an accessible way. It also presents many applications in all areas of economics, especially labor...
Sovereign wealth funds (SWFs) are state-owned investment funds with combined asset holdings that are fast approaching four trillion dollars. Recently emerging as a major force in global financial markets, SWFs have other distinctive features besides their state-owned status: they are mainly located in developing countries and are intimately tied to energy and commodities exports, and they carry virtually no liabilities and have little redemption risk, which allows them to take a longer-term investment outlook than most other institutional investors. Edited by a Nobel laureate, a respected academic at the Columbia Business School, and a longtime international banker and asset manager, this vo...
The international Catholic weekly.
Reducing carbon emissions is the most complex political and economic problem humanity has ever confronted. Coping with the Climate Crisis brings together leading experts from academia and policy circles to explore issues related to the implementation of the COP21 Paris Agreement and the challenges of accelerating the transition toward sustainable development. The book synthesizes the key insights that emerge from the latest research in climate-change economics in an accessible and useful guide for policy makers and researchers. Contributors consider a wide range of issues, including the economic implications and realities of shifting away from fossil fuels, the role of financial markets in i...
Coping with a diagnosis of autism can be a troubling and confusing experience for parents. Ignorance of this bewildering disorder can provoke difficult decision-making for parents and physicians alike. What causes autism? What happens to children with autism when they grow up? Does autism run in families? What kind of educational setting is best? In this accessible, comprehensive book, the authors have discovered the questions on the minds of parents and professionals, and have attempted to answer them. Autism is a puzzling disorder. It begins in early childhood, and disrupts many aspects of development, leaving the child unable to form social relationships or communicate in the usual way. This fascinating book explains in a clear, straightforward manner what is known about the condition. Helpful appendices identify organizations and resource providers concerned with autism. Written first and foremost as a guide for parents, but required reading for interested professionals, it covers the recognition and diagnosis of autism, its biological and physiological causes, and the various treatments and educational techniques available.
This edited collection brings together a selection of papers originally presented at the Legal Services Research Centre's tenth anniversary international research conference. The papers, drawn from three continents, provide an insight into how people experience the law, the extent of impact of legal problems, the reasons people sometimes take no action to resolve problems, methods of service delivery, the integration of legal and health services and forms of funding legal services.
As long as there have been financial markets, there have been bubbles—those moments in which asset prices inflate far beyond their intrinsic value, often with ruinous results. Yet economists are slow to agree on the underlying forces behind these events. In this book José A. Scheinkman offers new insight into the mystery of bubbles. Noting some general characteristics of bubbles—such as the rise in trading volume and the coincidence between increases in supply and bubble implosions—Scheinkman offers a model, based on differences in beliefs among investors, that explains these observations. Other top economists also offer their own thoughts on the issue: Sanford J. Grossman and Patrick Bolton expand on Scheinkman's discussion by looking at factors that contribute to bubbles—such as excessive leverage, overconfidence, mania, and panic in speculative markets—and Kenneth J. Arrow and Joseph E. Stiglitz contextualize Scheinkman's findings.
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The Legal Department and the Institute of the IMF held their ninth biennial seminar for legal advisors of IMF member countries’ central banks, and the papers published in this volume are based on presentations made by officials attending this seminar. The seminar covered a broad range of topics, including sovereign debt restructuring, money laundering and the financing of terrorism, financial system and banking supervision, conflicts of interest and market discipline in the financial sector, insolvency, and other issues related to central banking.