Money, stock prices and central banks

a cointegrated VAR analysis

This contribution applies the cointegrated vector autoregressive (CVAR) model to analyze the long-run behavior and short-run dynamics of stock markets across five developed and three emerging economies. The main objective is to check whether liquidity conditions play an important role in stock market developments. As ...

Regional cohesion

effectiveness of network structures

This book presents an interdisciplinary analysis of EU regional cohesion based on a network and clusters approach. The author explores the question if and how the presence of network structures supports the effectiveness of transformation in EU regions, in particular with a focus on non-pecuniary ...

The dynamics of complex urban systems

an interdisciplinary approach

The present book outlines a conceptual framework for modelling and forecasting the dynamics of both growth- limited cities and megacities bringing together experts from several disciplines. The interdisciplinary point of view is particularly stressed. The contributions presented reflect the various interdependencies between structural (physics and ...

Risk-sharing in the pharmaceutical industry

the case of out-licensing

The costs of developing a new drug have reached record levels in the pharmaceutical industry. As any failure of a new drug candidate can lead to significant losses, many pharmaceutical companies are looking for new approaches to reduce their exposure to R and D risks ...

Agent-based computational modelling

applications in demography social, economic and environmental sciences

Table of Contents: F.C. Billari et al.: Agent-based Computational Modelling: An Introduction * A. Pyka, T. Grebel: Agent-based Modelling - A Methodology for the Analysis of Qualitative Development Processes * M. Franke et al.: On the Analysis of Asymmetric Directed Communication Structures in Electronic Election Markets * M ...

The european labour market

regional dimensions

This book brings together up-to-date findings on the regional dimensions of European labour markets. It provides a conceptual and empirical study of the interactions between the European economy and its regions, paying particular attention to the issue of the transition of Central and Eastern European ...

Economic nfoundation of asset price processes

Econometric modelling of European money demand

aggregation, cointegration, identification

The introduction of a single European currency constitutes a remarkable instance of internationalization of monetary policy. Whether a concomitant internationalization can be detected also in the econometric foundations of monetary policy is the problem dealt with in this book. Its basic theoretical ingredients comprise a ...

Business cycles in the contemporary world

description, causes, aggregation, and synchronization

Contents: 1. Introduction PART I. METHODOLOGY 2. General Considerations and Historiography 3. The Analysis of Cyclical Dynamics PART II. NATIONAL, SUPRA- AND INTERNATIONAL CYCLES 4. The G7 and Euro15 Economies: 1960-2000 5. Mode-Locking and the Global Cycle PART III. THE SECTORAL CONSTITUTION OF MACRO-CYCLES 6 ...

Utility and production

a theory and applications

This microeconomics text presents the traditional economic theories about utility and production, as well as the main alternative theories of consumer and company behaviour. It contains new theoretical functions created from specific optimisation procedures. Moreover, it details clearly the common function expression forms such as ...

A mathematical theory of arguments for statistical evidence

The subject of this book is the reasoning under uncertainty based on statistical evidence. The concepts are developed, explained and illustrated in the context of the mathematical theory of hints, which is a variant of the Dempster-Shafer theory of evidence. In the first two chapters ...

The incomplete european market for financial services

International trade, wage inequality and the developing economy

A general equilibrium approach

This book deals with the impact that international trade is likely to have on the skilled-unskilled wage gap in a typical developing economy. This is the first theoretical monograph on this particular issue which has already generated substantial debate and voluminous work for the developed ...

Money demand in Europe

an empirical approach

The EURO has now been in place for more than two years, but only the future will tell if the ECB can manage the EURO currency in the long- term. This book discusses the economic principals underlying the demand for money, and the possibilities to ...

The dynamics of the price structure and the business cycle

the Italian evidence from 1945-2000

By exploring the price dynamics and business cycle of the Italian economy with reference to the most important international events, this text sheds new light on the country's current situation. Using a long- term analytical framework underpinned by principal theoretical approaches, the analysis places ...

Public debt and endogenous growth

This book considers public debt dynamics in various endogenous growth models, namely the AK model and explicit models of innovation and human capital accumulation. Furthermore, the closed economy, the small open economy and a two-country world are analysed. In the closed economy model, the focus ...

Empirical modeling of the economy and the environment

Eds. Cristoph Böhringer abd Andreas Löscher The papers presented in this volume address a wide range of policy themes in the context of environmental regulation. Investigated issues include the interaction between environmental regulation and economic growth, international competitiveness, structural change, pollution leakage, technological innovation, tax ...

New strategies for financial services firms

the Life-Cycle-Solution approach

The German financial services market is in deep crisis. Deregulation and the new means of communication have fostered competition and made the market a transparent level playing field. Moreover, customers increasingly demand individualized solutions to their financial problems. Many financial services providers reacted by merging ...

Fuzzy mathematics in economics and engineering

The book aims at surveying results in the application of fuzzy sets and fuzzy logic to economics and engineering. New results include fuzzy non- linear regression, fully fuzzified linear programming, fuzzy multi- period control, fuzzy network analysis, each using an evolutionary algorithm; fuzzy queuing decision ...

General Equilibrium and Welfare

This overview of competitive general equilibrium theory and welfare economy adopts a methodological approach of a closed and inter-related system where all variables are simultaneously determined. By using theorems of fixed point, revealed preference and local and global stability, the author proves the existence of ...