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3A1831651076.jsonld | ['Chapter 9. Assessing International Efficiency'] | ['This chapter is structured in three parts. The first part outlines the methodological steps, involving both theoretical and empirical work, for assessing whether an observed allocation of resources across countries is efficient. The second part applies the methodology to the long-run allocation of capital and consumption in a large cross section of countries. We find that countries that grow faster in the long run also tend to save more both domestically and internationally. These facts suggest that either the long-run allocation of resources across countries is inefficient, or that there is a systematic relation between fast growth and preference for delayed consumption. The third part applies the methodology to the allocation of resources across developed countries at the business cycle frequency. Here we discuss how evidence on international quantity comovement, exchange rates, asset prices, and international portfolio holdings can be used to assess efficiency. Overall, quantities and portfolios appear consistent with efficiency, while evidence from prices is difficult to interpret using standard models. The welfare costs associated with an inefficient allocation of resources over the business cycle can be significant if shocks to relative country permanent income are large. In those cases partial financial liberalization can lower welfare.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651076'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 9. Assessing International Efficiency']
### Abstract:
['This chapter is structured in three parts. The first part outlines the methodological steps, involving both theoretical and empirical work, for assessing whether an observed allocation of resources across countries is efficient. The second part applies the methodology to the long-run allocation of capital and consumption in a large cross section of countries. We find that countries that grow faster in the long run also tend to save more both domestically and internationally. These facts suggest that either the long-run allocation of resources across countries is inefficient, or that there is a systematic relation between fast growth and preference for delayed consumption. The third part applies the methodology to the allocation of resources across developed countries at the business cycle frequency. Here we discuss how evidence on international quantity comovement, exchange rates, asset prices, and international portfolio holdings can be used to assess efficiency. Overall, quantities and portfolios appear consistent with efficiency, while evidence from prices is difficult to interpret using standard models. The welfare costs associated with an inefficient allocation of resources over the business cycle can be significant if shocks to relative country permanent income are large. In those cases partial financial liberalization can lower welfare.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651076']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831651084.jsonld | ['Chapter 8. Exchange Rates and Interest Parity'] | ['This chapter surveys recent theoretical and empirical contributions on foreign exchange rate determination. The chapter first examines monetary models under uncovered interest parity and rational expectations, and then considers deviations from UIP/rational expectations: foreign exchange risk premium, private information, near-rational expectations, and peso problems.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651084'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 8. Exchange Rates and Interest Parity']
### Abstract:
['This chapter surveys recent theoretical and empirical contributions on foreign exchange rate determination. The chapter first examines monetary models under uncovered interest parity and rational expectations, and then considers deviations from UIP/rational expectations: foreign exchange risk premium, private information, near-rational expectations, and peso problems.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651084']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831651092.jsonld | ['Chapter 7. International Prices and Exchange Rates'] | ['We survey the recent empirical and theoretical developments in the literature on the relation between prices and exchange rates. After updating some of the major findings in the empirical literature, we present a simple framework to interpret this evidence. We review theoretical models that generate insensitivity of prices to exchange rate changes through variable markups, both under flexible prices and nominal rigidities, first in partial equilibrium and then in general equilibrium.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651092'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 7. International Prices and Exchange Rates']
### Abstract:
['We survey the recent empirical and theoretical developments in the literature on the relation between prices and exchange rates. After updating some of the major findings in the empirical literature, we present a simple framework to interpret this evidence. We review theoretical models that generate insensitivity of prices to exchange rate changes through variable markups, both under flexible prices and nominal rigidities, first in partial equilibrium and then in general equilibrium.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651092']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831651106.jsonld | ['Chapter 6. International Trade Agreements'] | ['In this chapter I survey the recent theoretical and empirical advances in the economics of international trade agreements, focusing on three main topics: the motives for trade agreements; the design of rules and institutions for trade policy; and regional trade agreements.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651106'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 6. International Trade Agreements']
### Abstract:
['In this chapter I survey the recent theoretical and empirical advances in the economics of international trade agreements, focusing on three main topics: the motives for trade agreements; the design of rules and institutions for trade policy; and regional trade agreements.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651106']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831651114.jsonld | ['Chapter 5. Domestic Institutions as a Source of Comparative Advantage'] | ['Domestic institutions can have profound effects on international trade. This chapter reviews the theoretical and empirical underpinnings of this insight. Particular attention is paid to contracting institutions and to comparative advantage, where the bulk of the research has been concentrated. We also consider the reverse causation running from comparative advantage to domestic institutions.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651114'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 5. Domestic Institutions as a Source of Comparative Advantage']
### Abstract:
['Domestic institutions can have profound effects on international trade. This chapter reviews the theoretical and empirical underpinnings of this insight. Particular attention is paid to contracting institutions and to comparative advantage, where the bulk of the research has been concentrated. We also consider the reverse causation running from comparative advantage to domestic institutions.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651114']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A1831651130.jsonld | ['Chapter 3. Gravity Equations: Workhorse,Toolkit, and Cookbook'] | ['This chapter focuses on the estimation and interpretation of gravity equations for bilateral trade. This necessarily involves a careful consideration of the theoretical underpinnings since it has become clear that naive approaches to estimation lead to biased and frequently misinterpreted results. There are now several theory-consistent estimation methods and we argue against sole reliance on any one method and instead advocate a toolkit approach. One estimator may be preferred for certain types of data or research questions but more often the methods should be used in concert to establish robustness. In recent years, estimation has become just a first step before a deeper analysis of the implications of the results, notably in terms of welfare. We try to facilitate diffusion of best-practice methods by illustrating their application in a step-by-step cookbook mode of exposition.'] | ['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651130'] | ['Welthandel', 'Weltwirtschaft'] | Document
### Title: ['Chapter 3. Gravity Equations: Workhorse,Toolkit, and Cookbook']
### Abstract:
['This chapter focuses on the estimation and interpretation of gravity equations for bilateral trade. This necessarily involves a careful consideration of the theoretical underpinnings since it has become clear that naive approaches to estimation lead to biased and frequently misinterpreted results. There are now several theory-consistent estimation methods and we argue against sole reliance on any one method and instead advocate a toolkit approach. One estimator may be preferred for certain types of data or research questions but more often the methods should be used in concert to establish robustness. In recent years, estimation has become just a first step before a deeper analysis of the implications of the results, notably in terms of welfare. We try to facilitate diffusion of best-practice methods by illustrating their application in a step-by-step cookbook mode of exposition.']
### GND ID:
['gnd:4065365-1', 'gnd:4065468-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651130']
### GND class:
['Welthandel', 'Weltwirtschaft']
<|eot_id|> |
3A183165122X.jsonld | ['Chapter 22. Strategic Interactions Between Modern Law and Custom'] | ['The question of the role of statutory law in social environments permeated by custom and traditional norms is particularly important when the state law aims to correct social inequalities embedded in the custom. The conventional view is that modern law often fails to take root in custom-driven poor societies, especially when the formal law conflicts with the custom. Based on a simple, static analytical model, we argue that from the low activity of modern courts we cannot infer that the statutory law is ineffectual. Indeed, there may be an effective indirect impact exerted through a ‘magnet’ effect of the formal law on the informal rulings of customary authorities. We highlight various factors impinging on this effect and illustrate their operation with a number of examples drawn from the existing literature, as well as from the authors’ own field experience. Another striking result is that pro-poor radicalism may defeat its own purpose: under certain conditions, a moderate law better serves the interests of the poor than a radical law. The same conclusion can actually be reached with the help of a more complex model in which the size of the community subject to customary mediation is itself endogenous, and the benefits and costs of remaining within the customary jurisdiction relative to those of going to the formal court depend themselves on community size. The purpose of the chapter is therefore to open to the instruments of micro-economic analysis a new field: interactions between modern statutory law and custom in the context of developing countries subject to strong and sometimes inegalitarian social norms. It will be argued that the economist’s tools can shed useful light on certain empirical facts and observations of legal anthropologists and other social scientists.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165122X'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 22. Strategic Interactions Between Modern Law and Custom']
### Abstract:
['The question of the role of statutory law in social environments permeated by custom and traditional norms is particularly important when the state law aims to correct social inequalities embedded in the custom. The conventional view is that modern law often fails to take root in custom-driven poor societies, especially when the formal law conflicts with the custom. Based on a simple, static analytical model, we argue that from the low activity of modern courts we cannot infer that the statutory law is ineffectual. Indeed, there may be an effective indirect impact exerted through a ‘magnet’ effect of the formal law on the informal rulings of customary authorities. We highlight various factors impinging on this effect and illustrate their operation with a number of examples drawn from the existing literature, as well as from the authors’ own field experience. Another striking result is that pro-poor radicalism may defeat its own purpose: under certain conditions, a moderate law better serves the interests of the poor than a radical law. The same conclusion can actually be reached with the help of a more complex model in which the size of the community subject to customary mediation is itself endogenous, and the benefits and costs of remaining within the customary jurisdiction relative to those of going to the formal court depend themselves on community size. The purpose of the chapter is therefore to open to the instruments of micro-economic analysis a new field: interactions between modern statutory law and custom in the context of developing countries subject to strong and sometimes inegalitarian social norms. It will be argued that the economist’s tools can shed useful light on certain empirical facts and observations of legal anthropologists and other social scientists.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165122X']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651246.jsonld | ['Chapter 20. National Culture as Value Orientations: Consequences of Value Differences and Cultural Distance'] | ['This chapter presents my theory of seven cultural value orientations and applies it to understanding relations of culture to significant societal phenomena. The first section explicates my conception of culture – a conception of the normative value system that underlies social practices and institutions. I then derive seven value orientations that are useful for describing and comparing societies. Next, the chapter discusses the conceptual underpinnings for measuring the cultural value orientations. It then presents the survey methods developed for this purpose, and the empirical validation of the content of the value orientations and of the structure of relations among them. This is based on analyses of data across 77 national groups in 75 countries. Brief comparisons of these value orientations with two other dimensional approaches to culture are followed by an analysis that justifies treating countries as cultural units. The middle section of the chapter uses the seven validated cultural orientations to generate a worldwide graphic mapping of national cultures. This map permits comparison of national cultures with one another on each orientation. It reveals eight distinct world cultural regions that reflect the influence of geographic proximity, history, language, and other factors. To illustrate the meaningfulness of the cultural map, I discuss the distinctive cultural profiles of each world cultural region. The final third of the chapter examines associations between culture, measured by the value orientations, and a variety of variables of economic significance: the socioeconomic level of countries, their level of corruption, the social net they provide to citizens, their level of democracy, and the competitiveness of their market systems. It discusses the reciprocal causal processes that may account for these associations. Finally, the chapter analyzes how distance between countries on cultural value orientations affects the flow of investment around the world. The current approach differs from well-known theories of cultural dimensions (e.g. Inglehart and Baker, 2000; Hofstede, 2001 ) in deriving the constructs to measure culture from a priori theorizing and then testing the fit of these constructs to empirical data. Moreover, whereas other approaches seek orthogonal dimensions, I assume that correlated dimensions capture culture better because they can express the interdependence of cultural elements. My theory of culture specifies a coherent, integrated system of relations among the seven cultural orientations. These orientations form three correlated bipolar dimensions. Empirical measures of the seven orientations support the coherence of culture by revealing that the cultural profiles of societies rarely exhibit incompatible value emphases.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651246'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 20. National Culture as Value Orientations: Consequences of Value Differences and Cultural Distance']
### Abstract:
['This chapter presents my theory of seven cultural value orientations and applies it to understanding relations of culture to significant societal phenomena. The first section explicates my conception of culture – a conception of the normative value system that underlies social practices and institutions. I then derive seven value orientations that are useful for describing and comparing societies. Next, the chapter discusses the conceptual underpinnings for measuring the cultural value orientations. It then presents the survey methods developed for this purpose, and the empirical validation of the content of the value orientations and of the structure of relations among them. This is based on analyses of data across 77 national groups in 75 countries. Brief comparisons of these value orientations with two other dimensional approaches to culture are followed by an analysis that justifies treating countries as cultural units. The middle section of the chapter uses the seven validated cultural orientations to generate a worldwide graphic mapping of national cultures. This map permits comparison of national cultures with one another on each orientation. It reveals eight distinct world cultural regions that reflect the influence of geographic proximity, history, language, and other factors. To illustrate the meaningfulness of the cultural map, I discuss the distinctive cultural profiles of each world cultural region. The final third of the chapter examines associations between culture, measured by the value orientations, and a variety of variables of economic significance: the socioeconomic level of countries, their level of corruption, the social net they provide to citizens, their level of democracy, and the competitiveness of their market systems. It discusses the reciprocal causal processes that may account for these associations. Finally, the chapter analyzes how distance between countries on cultural value orientations affects the flow of investment around the world. The current approach differs from well-known theories of cultural dimensions (e.g. Inglehart and Baker, 2000; Hofstede, 2001 ) in deriving the constructs to measure culture from a priori theorizing and then testing the fit of these constructs to empirical data. Moreover, whereas other approaches seek orthogonal dimensions, I assume that correlated dimensions capture culture better because they can express the interdependence of cultural elements. My theory of culture specifies a coherent, integrated system of relations among the seven cultural orientations. These orientations form three correlated bipolar dimensions. Empirical measures of the seven orientations support the coherence of culture by revealing that the cultural profiles of societies rarely exhibit incompatible value emphases.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651246']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651270.jsonld | ['Chapter 17. Trade and Cultural Diversity'] | ['This chapter surveys the recent economic literature on the relationships between globalization and cultural diversity. We first review the different channels through which international integration interacts with cultural diversity across individuals, communities, and nations. We then present some recent formal economic models of cultural transmission and cultural evolution, and show how these models can be embedded into standard economic frameworks to analyze the links between globalization and cultural diversity. The chapter then presents various applications from trade in cultural goods, foreign direct investment in tourism to cultural integration of foreign migrants. Finally, normative implications and the relationships between cultural policy and international policies are also discussed.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651270'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 17. Trade and Cultural Diversity']
### Abstract:
['This chapter surveys the recent economic literature on the relationships between globalization and cultural diversity. We first review the different channels through which international integration interacts with cultural diversity across individuals, communities, and nations. We then present some recent formal economic models of cultural transmission and cultural evolution, and show how these models can be embedded into standard economic frameworks to analyze the links between globalization and cultural diversity. The chapter then presents various applications from trade in cultural goods, foreign direct investment in tourism to cultural integration of foreign migrants. Finally, normative implications and the relationships between cultural policy and international policies are also discussed.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651270']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651297.jsonld | ['Chapter 15. Cultural Products in the International Trading System'] | ['Debate about the linkages between globalization and cultural diversity is not limited to the well-known dispute about the effects of international economic integration in promoting or reducing the plurality of cultural expressions, but extends to the possible role of cultural diversity in explaining comparative advantage and trade or in generating market access barriers that can reduce the intensity of bilateral economic interactions. This chapter presents an overview of recent theoretical contributions, aimed at better understanding the linkages between trade and culture. The main common insight is that imperfect competition and network externalities in consumption define a framework in which international economic integration can lead to market concentration and cultural homogenization. In some cases, and under specific qualifications, some forms of ‘efficient protection’ of the cultural sector may increase economic welfare. In other cases, free trade remains the optimal policy, even if it entails some costs in terms of cultural diversity. Heterogeneous cultural preferences may be considered among the exogenously defined determinants of market equilibrium. Alternatively, their evolution may be modeled as the endogenous result of market adjustment to trade liberalization. The normative sections of this chapter discuss from different perspectives the options faced by the international community to improve the governance of cultural policies. Although bilateral and regional preferential trade agreements are becoming more relevant, a comprehensive and consistent solution of the trade-and-culture controversy is needed at the multilateral level. The 2005 UN Educational, Scientific and Cultural Organization (UNESCO) Convention on Cultural Diversity is an important achievement, but cannot solve this problem. A coherent and credible balance between the different positions can only be found by improving the World Trade Organization (WTO) regime. In the context of the digital revolution, the complementarity between the two global public goods of cultural plurality and international economic integration, and their role in sustaining the progress of societies, is hopefully becoming more evident.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651297'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 15. Cultural Products in the International Trading System']
### Abstract:
['Debate about the linkages between globalization and cultural diversity is not limited to the well-known dispute about the effects of international economic integration in promoting or reducing the plurality of cultural expressions, but extends to the possible role of cultural diversity in explaining comparative advantage and trade or in generating market access barriers that can reduce the intensity of bilateral economic interactions. This chapter presents an overview of recent theoretical contributions, aimed at better understanding the linkages between trade and culture. The main common insight is that imperfect competition and network externalities in consumption define a framework in which international economic integration can lead to market concentration and cultural homogenization. In some cases, and under specific qualifications, some forms of ‘efficient protection’ of the cultural sector may increase economic welfare. In other cases, free trade remains the optimal policy, even if it entails some costs in terms of cultural diversity. Heterogeneous cultural preferences may be considered among the exogenously defined determinants of market equilibrium. Alternatively, their evolution may be modeled as the endogenous result of market adjustment to trade liberalization. The normative sections of this chapter discuss from different perspectives the options faced by the international community to improve the governance of cultural policies. Although bilateral and regional preferential trade agreements are becoming more relevant, a comprehensive and consistent solution of the trade-and-culture controversy is needed at the multilateral level. The 2005 UN Educational, Scientific and Cultural Organization (UNESCO) Convention on Cultural Diversity is an important achievement, but cannot solve this problem. A coherent and credible balance between the different positions can only be found by improving the World Trade Organization (WTO) regime. In the context of the digital revolution, the complementarity between the two global public goods of cultural plurality and international economic integration, and their role in sustaining the progress of societies, is hopefully becoming more evident.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651297']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651319.jsonld | ['Chapter 13. The Pricing of Art and the Art of Pricing: Pricing Styles in the Concert Industry'] | ['We document the existence of pricing styles in the concert industry. Artists differ in the extent to which they rely on second- and third-degree price discrimination, and in the probability of their concerts selling out. Most strikingly, artists who use multiple seating categories are more likely to vary prices across markets and less likely to sell out concerts. These patterns are difficult to explain within a standard profit maximization paradigm. The hypothesis that artists differ in their willingness to exploit market power provides a plausible framework for explaining these patterns in artist pricing style.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651319'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 13. The Pricing of Art and the Art of Pricing: Pricing Styles in the Concert Industry']
### Abstract:
['We document the existence of pricing styles in the concert industry. Artists differ in the extent to which they rely on second- and third-degree price discrimination, and in the probability of their concerts selling out. Most strikingly, artists who use multiple seating categories are more likely to vary prices across markets and less likely to sell out concerts. These patterns are difficult to explain within a standard profit maximization paradigm. The hypothesis that artists differ in their willingness to exploit market power provides a plausible framework for explaining these patterns in artist pricing style.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651319']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651327.jsonld | ['Chapter 12. Digitization, Copyright, and the Flow of New Music Products'] | ['Copyright protection grants creators monopolies – with their attendant harms – in order to provide incentives for continued creation. File sharing, which exploded with Napster’s appearance in 1999, effectively weakened copyright protection. Researchers have documented depressing effects of file sharing on demand, but what is arguably more important are the possibly curtailed incentives to bring new creative products to market. At the same time that technological change has weakened effective copyright protection, other innovations have reduced the costs of production, promotion, and distribution, making it unclear how recent technological changes, on balance, would affect the flow of new music products. This chapter reviews the emerging evidence on the quality and service flow of new recorded music products since Napster.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651327'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 12. Digitization, Copyright, and the Flow of New Music Products']
### Abstract:
['Copyright protection grants creators monopolies – with their attendant harms – in order to provide incentives for continued creation. File sharing, which exploded with Napster’s appearance in 1999, effectively weakened copyright protection. Researchers have documented depressing effects of file sharing on demand, but what is arguably more important are the possibly curtailed incentives to bring new creative products to market. At the same time that technological change has weakened effective copyright protection, other innovations have reduced the costs of production, promotion, and distribution, making it unclear how recent technological changes, on balance, would affect the flow of new music products. This chapter reviews the emerging evidence on the quality and service flow of new recorded music products since Napster.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651327']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651335.jsonld | ['Chapter 11. Cultural Innovation by Cultural Organizations'] | ['This chapter assesses the theories and related empirical evidence regarding the factors that explain cultural innovation by cultural organizations. It begins by defining key concepts, including what is meant by a cultural organization, cultural innovation, and the innovation referent. The chapter identifies two main disciplines that have been interested in cultural innovation or innovative programming by cultural organizations: sociology and economics. The focus, contributions, and overlap of these two disciplinary approaches to cultural innovation are discussed, and the chapter concludes by identifying some gaps and putting forward some suggestions for future research.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651335'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 11. Cultural Innovation by Cultural Organizations']
### Abstract:
['This chapter assesses the theories and related empirical evidence regarding the factors that explain cultural innovation by cultural organizations. It begins by defining key concepts, including what is meant by a cultural organization, cultural innovation, and the innovation referent. The chapter identifies two main disciplines that have been interested in cultural innovation or innovative programming by cultural organizations: sociology and economics. The focus, contributions, and overlap of these two disciplinary approaches to cultural innovation are discussed, and the chapter concludes by identifying some gaps and putting forward some suggestions for future research.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651335']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A183165136X.jsonld | ['Chapter 8. Bestsellers and Blockbusters: Movies, Music, and Books'] | ['This chapter is a survey on the economics of blockbusters and bestsellers in popular entertainment and culture, with a particular focus on empirical methods and applications to movies, music, and books. We first survey various conceptual models on the economics of superstars and the winner-take-all nature of product success. We then survey the range of statistical methodologies that can be used to quantify formally the winner-take-all nature of the distribution of success while estimating the correlates of success across competing titles. In separate subsections for movies, music, and books, we survey the empirical literature that relates to the blockbuster phenomenon. The final section discusses specific current topics related to the distribution of success, focusing on issues that appear to be fruitful areas for future research.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165136X'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 8. Bestsellers and Blockbusters: Movies, Music, and Books']
### Abstract:
['This chapter is a survey on the economics of blockbusters and bestsellers in popular entertainment and culture, with a particular focus on empirical methods and applications to movies, music, and books. We first survey various conceptual models on the economics of superstars and the winner-take-all nature of product success. We then survey the range of statistical methodologies that can be used to quantify formally the winner-take-all nature of the distribution of success while estimating the correlates of success across competing titles. In separate subsections for movies, music, and books, we survey the empirical literature that relates to the blockbuster phenomenon. The final section discusses specific current topics related to the distribution of success, focusing on issues that appear to be fruitful areas for future research.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165136X']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651378.jsonld | ['Chapter 7. The Use of Stated Preference Methods to Value Cultural Heritage'] | ['This chapter briefly defines cultural heritage, before considering the relative merits of stated preference methods in relation to revealed preference in deriving economic values for cultural goods. Section 7.2 outlines the distinction between contingent valuation (CV) and discrete choice experiment (CE) methods, before outlining some applications of CV methods in estimating consumer surplus and maximum revenue for cultural goods. Section 7.3 outlines choice experiments, experimental design, and the random utility theory underlying CEs. Section 7.4 presents the standard conditional logit and multinomial logit models, and discusses their use in valuing cultural heritage. The restrictive assumptions of these two models are described as a prelude to presentations of other choice experiment models that relax some or all of these assumptions. These models are: the nested logit, covariance-heterogeneity, heteroscedastic extreme value, mixed logit random parameter, error component, multinomial probit, and latent class or finite mixture models. Applications of each of these models to cultural heritage are provided. Section 7.5 considers how price and economic values are derived from utility estimates. It discusses values directly derived in willingness to pay space, and the importance of calculating market share and of identifying those who are willing to pay for an improvement to the status quo level of a cultural good. Section 7.6 explores how CE models can be extended or enhanced by the consideration of: interaction effects between the attributes of a cultural good; controlling for choice complexity; addressing non-attendance of attributes in respondent’s choices; considering the scale problem; asymmetry between willingness to pay and willingness to accept compensation for the equivalent loss of a cultural good; the issue of utility maximization or regret minimization; the importance of considering respondents’ attitudes in choice models; and models combining revealed and stated preference to include what people actually demand, as well as what they say they would demand, in evaluating preferences and values for cultural goods. The conclusion in Section 7.7 briefly summarizes the chapter and provides some thoughts for future research.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651378'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 7. The Use of Stated Preference Methods to Value Cultural Heritage']
### Abstract:
['This chapter briefly defines cultural heritage, before considering the relative merits of stated preference methods in relation to revealed preference in deriving economic values for cultural goods. Section 7.2 outlines the distinction between contingent valuation (CV) and discrete choice experiment (CE) methods, before outlining some applications of CV methods in estimating consumer surplus and maximum revenue for cultural goods. Section 7.3 outlines choice experiments, experimental design, and the random utility theory underlying CEs. Section 7.4 presents the standard conditional logit and multinomial logit models, and discusses their use in valuing cultural heritage. The restrictive assumptions of these two models are described as a prelude to presentations of other choice experiment models that relax some or all of these assumptions. These models are: the nested logit, covariance-heterogeneity, heteroscedastic extreme value, mixed logit random parameter, error component, multinomial probit, and latent class or finite mixture models. Applications of each of these models to cultural heritage are provided. Section 7.5 considers how price and economic values are derived from utility estimates. It discusses values directly derived in willingness to pay space, and the importance of calculating market share and of identifying those who are willing to pay for an improvement to the status quo level of a cultural good. Section 7.6 explores how CE models can be extended or enhanced by the consideration of: interaction effects between the attributes of a cultural good; controlling for choice complexity; addressing non-attendance of attributes in respondent’s choices; considering the scale problem; asymmetry between willingness to pay and willingness to accept compensation for the equivalent loss of a cultural good; the issue of utility maximization or regret minimization; the importance of considering respondents’ attitudes in choice models; and models combining revealed and stated preference to include what people actually demand, as well as what they say they would demand, in evaluating preferences and values for cultural goods. The conclusion in Section 7.7 briefly summarizes the chapter and provides some thoughts for future research.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651378']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651386.jsonld | ['Chapter 6. The Economics of Cultural Awards'] | ['This chapter considers the economic dimensions of prizes and awards in the arts. It first treats the role of awards in the markets for artistic goods: their effect on sales, earnings, and consumer demand, and their function as judgment devices or quality signals. Also discussed are the costs of mounting an awards program, and the economics of awards administration and presentation. The chapter then takes up a broader set of economic considerations, beyond those of commerce as such, discussing the role of prizes as a form of symbolic capital in the economy of prestige. This symbolic role includes their reputation effects and relation to cultural branding; their function as a form of incentive for artists; their capacity to predict or determine an eventual canon of esteemed works; and their value within an increasingly international system of cultural status hierarchies. Having surveyed the existing literature, the chapter concludes by noting economists’ narrow and excessive emphasis on the material consequences of prizes, and the many fundamental areas of inquiry that remain wide open for future research. These include the economics of sponsorship, particularly philanthropic sponsorship; the role of social capital and the system of exchange and reciprocity involving judges, recipients, and administrators; and the economics of the awards industry as a whole, its global dispersion, and its large-scale functions and effects within the creative economy.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651386'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 6. The Economics of Cultural Awards']
### Abstract:
['This chapter considers the economic dimensions of prizes and awards in the arts. It first treats the role of awards in the markets for artistic goods: their effect on sales, earnings, and consumer demand, and their function as judgment devices or quality signals. Also discussed are the costs of mounting an awards program, and the economics of awards administration and presentation. The chapter then takes up a broader set of economic considerations, beyond those of commerce as such, discussing the role of prizes as a form of symbolic capital in the economy of prestige. This symbolic role includes their reputation effects and relation to cultural branding; their function as a form of incentive for artists; their capacity to predict or determine an eventual canon of esteemed works; and their value within an increasingly international system of cultural status hierarchies. Having surveyed the existing literature, the chapter concludes by noting economists’ narrow and excessive emphasis on the material consequences of prizes, and the many fundamental areas of inquiry that remain wide open for future research. These include the economics of sponsorship, particularly philanthropic sponsorship; the role of social capital and the system of exchange and reciprocity involving judges, recipients, and administrators; and the economics of the awards industry as a whole, its global dispersion, and its large-scale functions and effects within the creative economy.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651386']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651408.jsonld | ['Chapter 5. Values of Music'] | ['In this chapter I survey the kinds of value that music can have, or the variety of ways in which music can be valued, and the relationships and correlations among those values or ways of valuing. First and foremost is music’s musical value, or the value of music as music, which is a species of artistic value, itself closely related to but not identical with aesthetic value. Yet music clearly has value beyond its purely musical value. Music obviously has economic value, whether as a commodity, a service, or a skill. More generally, music has, or can have, various sorts of practical value. Notable among the practical values of music would be social value, entertainment value, therapeutic value, functioning-enhancement value, and self-affirmation value. The relation between the practical or instrumental values that a piece of music can possess and its musical or artistic value is complicated, and will vary from case to case.'] | ['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651408'] | ['Kulturwirtschaft', 'Kunstökonomie'] | Document
### Title: ['Chapter 5. Values of Music']
### Abstract:
['In this chapter I survey the kinds of value that music can have, or the variety of ways in which music can be valued, and the relationships and correlations among those values or ways of valuing. First and foremost is music’s musical value, or the value of music as music, which is a species of artistic value, itself closely related to but not identical with aesthetic value. Yet music clearly has value beyond its purely musical value. Music obviously has economic value, whether as a commodity, a service, or a skill. More generally, music has, or can have, various sorts of practical value. Notable among the practical values of music would be social value, entertainment value, therapeutic value, functioning-enhancement value, and self-affirmation value. The relation between the practical or instrumental values that a piece of music can possess and its musical or artistic value is complicated, and will vary from case to case.']
### GND ID:
['gnd:4268059-1', 'gnd:4315813-4', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651408']
### GND class:
['Kulturwirtschaft', 'Kunstökonomie']
<|eot_id|> |
3A1831651548.jsonld | ['Chapter 27. The Economics of Migration in the Gulf Cooperation Council Countries'] | ['The GCC countries are among the top destinations for foreign workers from neighboring Arab and Asian countries. The Gulf region is also the top remitter in the world. This chapter discusses the reasons that placed the GCC countries at the heart of the migration debate. To better understand the movements of people, the chapter presents a brief history of migration to the region with an analysis of labor market data. The chapter also examines the consequences of migration on the local and regional economies. The current challenges to the region are also discussed.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651548'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 27. The Economics of Migration in the Gulf Cooperation Council Countries']
### Abstract:
['The GCC countries are among the top destinations for foreign workers from neighboring Arab and Asian countries. The Gulf region is also the top remitter in the world. This chapter discusses the reasons that placed the GCC countries at the heart of the migration debate. To better understand the movements of people, the chapter presents a brief history of migration to the region with an analysis of labor market data. The chapter also examines the consequences of migration on the local and regional economies. The current challenges to the region are also discussed.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651548']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831651580.jsonld | ['Chapter 23. Regional Studies : Latin America and the Caribbean'] | ['This chapter offers an overview of migration and remittance flows with respect to the Latin American and Caribbean region from the colonial period to the present. Themes that cross history are highlighted as are the reversals of trends. Emphasis is given to south–south migration, to the factors that have motivated the out-migration of Latin Americans to the United States and Europe, and to the different attitudes concerning migratory movements that have been expressed by governments in both source and receiving nations.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651580'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 23. Regional Studies : Latin America and the Caribbean']
### Abstract:
['This chapter offers an overview of migration and remittance flows with respect to the Latin American and Caribbean region from the colonial period to the present. Themes that cross history are highlighted as are the reversals of trends. Emphasis is given to south–south migration, to the factors that have motivated the out-migration of Latin Americans to the United States and Europe, and to the different attitudes concerning migratory movements that have been expressed by governments in both source and receiving nations.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651580']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831651645.jsonld | ['Chapter 17. Immigration and Entrepreneurship'] | ['Immigrants are widely perceived as being highly entrepreneurial and important for economic growth and innovation. This is reflected in immigration policies, and many developed countries have created special visas and entry requirements in an attempt to attract immigrant entrepreneurs. Not surprisingly, a large body of research on immigrant entrepreneurship has developed over the years. In this chapter we provide an overview of the economics literature with respect to some of the most fundamental immigrant entrepreneurship issues as well as the empirical methods and data used. The main themes we address are immigrant entrepreneurs’ contributions to the economy, entrepreneurship differences across groups, and group differences in entrepreneurial success.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651645'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 17. Immigration and Entrepreneurship']
### Abstract:
['Immigrants are widely perceived as being highly entrepreneurial and important for economic growth and innovation. This is reflected in immigration policies, and many developed countries have created special visas and entry requirements in an attempt to attract immigrant entrepreneurs. Not surprisingly, a large body of research on immigrant entrepreneurship has developed over the years. In this chapter we provide an overview of the economics literature with respect to some of the most fundamental immigrant entrepreneurship issues as well as the empirical methods and data used. The main themes we address are immigrant entrepreneurs’ contributions to the economy, entrepreneurship differences across groups, and group differences in entrepreneurial success.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651645']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831651661.jsonld | ['Chapter 15. Immigration and the Distribution of Incomes'] | ["We review research on the impact of immigration on income distribution, surveying studies from a variety of countries. Immigration may affect the skill composition of a country's residents and also, by changing relative factor supplies, its relative factor prices. As background, we provide evidence on immigration to the OECD countries and compare the distribution of native and immigrant educational attainment; we also examine the compositional effects of these changes in the United States. We then discuss the economic theory of the impact of immigration on factor prices, emphasizing substitution and complementarity between natives and immigrants in the labor market. Next, we review research methodologies, including structural and natural experiment approaches, used to estimate the impact of immigration on the native income distribution. We follow by considering the evidence on these questions for several countries, and also examine the impact of emigration on income distribution in the source country."] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651661'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 15. Immigration and the Distribution of Incomes']
### Abstract:
["We review research on the impact of immigration on income distribution, surveying studies from a variety of countries. Immigration may affect the skill composition of a country's residents and also, by changing relative factor supplies, its relative factor prices. As background, we provide evidence on immigration to the OECD countries and compare the distribution of native and immigrant educational attainment; we also examine the compositional effects of these changes in the United States. We then discuss the economic theory of the impact of immigration on factor prices, emphasizing substitution and complementarity between natives and immigrants in the labor market. Next, we review research methodologies, including structural and natural experiment approaches, used to estimate the impact of immigration on the native income distribution. We follow by considering the evidence on these questions for several countries, and also examine the impact of emigration on income distribution in the source country."]
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651661']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831651726.jsonld | ['Chapter 18. Calibration and Expert Testing'] | ['I survey and discuss the recent literature on testing experts or probabilistic forecasts, which I would describe as a literature on “strategic hypothesis testing” The starting point of this literature is some surprising results of the following type: suppose that a criterion forjudging probabilistic forecasts (which I will call a test) has the property that if data are generated by a probabilistic model, then forecasts generated by that model pass the test. It, then, turns out an agent who knows only the test by which she is going to be judged, but knows nothing about the data-generating process, is able to pass the test by generating forecasts strategically. The literature identifies a large number of tests that are vulnerable to strategic manipulation of uninformed forecasters, but also delivers some tests that cannot be passed without knowledge of the data-generating process. It also provides some results on philosophy of science and financial markets that are related to, and inspired by the results on testing experts.'] | ['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651726'] | ['Spieltheorie', 'Wirtschaftswissenschaften'] | Document
### Title: ['Chapter 18. Calibration and Expert Testing']
### Abstract:
['I survey and discuss the recent literature on testing experts or probabilistic forecasts, which I would describe as a literature on “strategic hypothesis testing” The starting point of this literature is some surprising results of the following type: suppose that a criterion forjudging probabilistic forecasts (which I will call a test) has the property that if data are generated by a probabilistic model, then forecasts generated by that model pass the test. It, then, turns out an agent who knows only the test by which she is going to be judged, but knows nothing about the data-generating process, is able to pass the test by generating forecasts strategically. The literature identifies a large number of tests that are vulnerable to strategic manipulation of uninformed forecasters, but also delivers some tests that cannot be passed without knowledge of the data-generating process. It also provides some results on philosophy of science and financial markets that are related to, and inspired by the results on testing experts.']
### GND ID:
['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651726']
### GND class:
['Spieltheorie', 'Wirtschaftswissenschaften']
<|eot_id|> |
3A1831651750.jsonld | ['Chapter 15. Theory of Combinatorial Games'] | ['Aim: To present a systematic development of the theory of combinatorial games from the ground up. Approach: Computational complexity. Combinatorial games are completely determined; the questions of interest are efficiencies of strategies. Methodology: Divide and conquer. Ascend from Nim to Chess and Go in small strides at a gradient that is not too steep. Presentation: Mostly informal; examples of combinatorial games sampled from various strategic viewing points along scenic mountain trails illustrate the theory. Add-on: Atasteof constraint logic , a new tool to prove intractabilities of games.'] | ['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651750'] | ['Spieltheorie', 'Wirtschaftswissenschaften'] | Document
### Title: ['Chapter 15. Theory of Combinatorial Games']
### Abstract:
['Aim: To present a systematic development of the theory of combinatorial games from the ground up. Approach: Computational complexity. Combinatorial games are completely determined; the questions of interest are efficiencies of strategies. Methodology: Divide and conquer. Ascend from Nim to Chess and Go in small strides at a gradient that is not too steep. Presentation: Mostly informal; examples of combinatorial games sampled from various strategic viewing points along scenic mountain trails illustrate the theory. Add-on: Atasteof constraint logic , a new tool to prove intractabilities of games.']
### GND ID:
['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651750']
### GND class:
['Spieltheorie', 'Wirtschaftswissenschaften']
<|eot_id|> |
3A1831651769.jsonld | ['Chapter 14. The Complexity of Computing Equilibria'] | ['In one of the most influential existence theorems in mathematics, John F. Nash proved in 1950 that any normal form game has an equilibrium. More than five decades later, it was shown that the computational task of finding such an equilibrium is intractable, that is, unlikely to be carried out within any feasible time limits for large enough games. This chapter develops the necessary background and formalism from the theory of algorithms and complexity developed in computer science, in order to understand this result, its context, its proof, and its implications.'] | ['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651769'] | ['Spieltheorie', 'Wirtschaftswissenschaften'] | Document
### Title: ['Chapter 14. The Complexity of Computing Equilibria']
### Abstract:
['In one of the most influential existence theorems in mathematics, John F. Nash proved in 1950 that any normal form game has an equilibrium. More than five decades later, it was shown that the computational task of finding such an equilibrium is intractable, that is, unlikely to be carried out within any feasible time limits for large enough games. This chapter develops the necessary background and formalism from the theory of algorithms and complexity developed in computer science, in order to understand this result, its context, its proof, and its implications.']
### GND ID:
['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651769']
### GND class:
['Spieltheorie', 'Wirtschaftswissenschaften']
<|eot_id|> |
3A1831651823.jsonld | ['Chapter 8. Combinatorial Auctions'] | ['Many auctions involve the sale of heterogenous indivisible objects. Examples are wireless spectrum, delivery routes and airport time slots. Because of complementarities or substitution effects between the objects, bidders have preferences not just over individual items but over subsets of them. For this reason, economic efficiency is enhanced if bidders are allowed to bid on bundles or combinations of different assets. This chapter surveys the state of knowledge about combinatorial auctions.'] | ['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651823'] | ['Spieltheorie', 'Wirtschaftswissenschaften'] | Document
### Title: ['Chapter 8. Combinatorial Auctions']
### Abstract:
['Many auctions involve the sale of heterogenous indivisible objects. Examples are wireless spectrum, delivery routes and airport time slots. Because of complementarities or substitution effects between the objects, bidders have preferences not just over individual items but over subsets of them. For this reason, economic efficiency is enhanced if bidders are allowed to bid on bundles or combinations of different assets. This chapter surveys the state of knowledge about combinatorial auctions.']
### GND ID:
['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651823']
### GND class:
['Spieltheorie', 'Wirtschaftswissenschaften']
<|eot_id|> |
3A1831651866.jsonld | ['Chapter 5. Coalition Formation'] | ['This chapter surveys a sizable and growing literature on coalition formation. We refer to theories in which one or more groups of agents (“coalitions”) deliberately get together to jointly determine within-group actions, while interacting noncooperatively across groups. The chapter describes a variety of solution concepts, using an umbrella model that adopts an explicit real-time approach. Players band together, perhaps disband later and re-form in shifting alliances, all the while receiving payoffs at each date according to the coalition structure prevailing at the time. We use this model to nest two broad approaches to coalition formation, one based on cooperative game theory, the other based on noncooperative bargaining. Three themes that receive explicit emphasis are agent farsightedness, the description of equilibrium coalition structures, and the efficiency implications of the various theories.'] | ['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651866'] | ['Spieltheorie', 'Wirtschaftswissenschaften'] | Document
### Title: ['Chapter 5. Coalition Formation']
### Abstract:
['This chapter surveys a sizable and growing literature on coalition formation. We refer to theories in which one or more groups of agents (“coalitions”) deliberately get together to jointly determine within-group actions, while interacting noncooperatively across groups. The chapter describes a variety of solution concepts, using an umbrella model that adopts an explicit real-time approach. Players band together, perhaps disband later and re-form in shifting alliances, all the while receiving payoffs at each date according to the coalition structure prevailing at the time. We use this model to nest two broad approaches to coalition formation, one based on cooperative game theory, the other based on noncooperative bargaining. Three themes that receive explicit emphasis are agent farsightedness, the description of equilibrium coalition structures, and the efficiency implications of the various theories.']
### GND ID:
['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651866']
### GND class:
['Spieltheorie', 'Wirtschaftswissenschaften']
<|eot_id|> |
3A1831651882.jsonld | ['Chapter 3. Games on Networks'] | ['We provide an overview and synthesis of the literatures analyzing games in which players are connected via a network structure. We discuss, in particular, the impact of the structure of the network on individuals’ behaviors. We focus on game theoretic modeling, but also include some discussion of analyses of peer effects, as well as applications to diffusion, employment, crime, industrial organization, and education.'] | ['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651882'] | ['Spieltheorie', 'Wirtschaftswissenschaften'] | Document
### Title: ['Chapter 3. Games on Networks']
### Abstract:
['We provide an overview and synthesis of the literatures analyzing games in which players are connected via a network structure. We discuss, in particular, the impact of the structure of the network on individuals’ behaviors. We focus on game theoretic modeling, but also include some discussion of analyses of peer effects, as well as applications to diffusion, employment, crime, industrial organization, and education.']
### GND ID:
['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651882']
### GND class:
['Spieltheorie', 'Wirtschaftswissenschaften']
<|eot_id|> |
3A1831651890.jsonld | ['Chapter 2. Advances in Zero-Sum Dynamic Games'] | ['The survey presents recent results in the theory of two-person zero-sum repeated games and their connections with differential and continuous-time games. The emphasis is made on the following (1) A general model allows to deal simultaneously with stochastic and informational aspects. (2) All evaluations of the stage payoffs can be covered in the same framework (and not only the usual Cesàro and Abel means). (3) The model in discrete time can be seen and analyzed as a discretization of a continuous time game. Moreover, tools and ideas from repeated games are very fruitful for continuous time games and vice versa. (4) Numerous important conjectures have been answered (some in the negative). (5) New tools and original models have been proposed. As a consequence, the field (discrete versus continuous time, stochastic versus incomplete information models) has a much more unified structure, and research is extremely active.'] | ['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651890'] | ['Spieltheorie', 'Wirtschaftswissenschaften'] | Document
### Title: ['Chapter 2. Advances in Zero-Sum Dynamic Games']
### Abstract:
['The survey presents recent results in the theory of two-person zero-sum repeated games and their connections with differential and continuous-time games. The emphasis is made on the following (1) A general model allows to deal simultaneously with stochastic and informational aspects. (2) All evaluations of the stage payoffs can be covered in the same framework (and not only the usual Cesàro and Abel means). (3) The model in discrete time can be seen and analyzed as a discretization of a continuous time game. Moreover, tools and ideas from repeated games are very fruitful for continuous time games and vice versa. (4) Numerous important conjectures have been answered (some in the negative). (5) New tools and original models have been proposed. As a consequence, the field (discrete versus continuous time, stochastic versus incomplete information models) has a much more unified structure, and research is extremely active.']
### GND ID:
['gnd:4056243-8', 'gnd:4066528-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831651890']
### GND class:
['Spieltheorie', 'Wirtschaftswissenschaften']
<|eot_id|> |
3A183165203X.jsonld | ['Chapter 13. Undocumented Immigration and Human Trafficking'] | ['Border and interior enforcement, legal penalties, and the market for smugglers distinguish undocumented migration from legal migration and introduce a number of challenges for migrants, employers, law enforcement, and policymakers. This chapter reviews the theoretical models and empirical evidence on the determinants of undocumented migration and its nature and prevalence around the world. Stricter enforcement vis-à-vis undocumented migration leads to unintended consequences, such as reduced circular migration and greater demand for smugglers. Although recent trends are generally toward stricter enforcement and more punitive sanctions for undocumented migrants and smugglers, there have been periods in recent history when undocumented immigration has been viewed with benign neglect. We review the costs and benefits of undocumented migration from a number of angles, including destination and origin countries, firms, consumers, taxpayers, native-born workers, and migrants themselves. We discuss the long-run impact of undocumented status on immigrants and their families, including the detrimental effect on integration and the limited extent of access to public benefits, such as health care and public pensions. We consider the tradeoffs of regularization programs, which may have economic benefits in the short run but may lead to increased undocumented immigration in the long run. Finally, we turn to human trafficking, which involves coercion, and review models and empirical evidence on human trafficking and policy responses.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165203X'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 13. Undocumented Immigration and Human Trafficking']
### Abstract:
['Border and interior enforcement, legal penalties, and the market for smugglers distinguish undocumented migration from legal migration and introduce a number of challenges for migrants, employers, law enforcement, and policymakers. This chapter reviews the theoretical models and empirical evidence on the determinants of undocumented migration and its nature and prevalence around the world. Stricter enforcement vis-à-vis undocumented migration leads to unintended consequences, such as reduced circular migration and greater demand for smugglers. Although recent trends are generally toward stricter enforcement and more punitive sanctions for undocumented migrants and smugglers, there have been periods in recent history when undocumented immigration has been viewed with benign neglect. We review the costs and benefits of undocumented migration from a number of angles, including destination and origin countries, firms, consumers, taxpayers, native-born workers, and migrants themselves. We discuss the long-run impact of undocumented status on immigrants and their families, including the detrimental effect on integration and the limited extent of access to public benefits, such as health care and public pensions. We consider the tradeoffs of regularization programs, which may have economic benefits in the short run but may lead to increased undocumented immigration in the long run. Finally, we turn to human trafficking, which involves coercion, and review models and empirical evidence on human trafficking and policy responses.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165203X']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831652048.jsonld | ['Chapter 12. The Refugee/Asylum Seeker'] | ['This chapter discusses the research in economics on refugees and asylum seekers. Section 1 describes the trends in asylum seeking by source and host country. Section 2 presents a conceptual framework on why refugees might differ from other types of immigrants, and provides a new analysis comparing refugees to other immigrants in the United States using a sample of immigrants recently granted legal permanent residency. Section 3 describes a conceptual framework on why investments in host-country-specific human capital might differ between refugees and other immigrants, and presents a new analysis of refugee economic integration in the United States using synthetic panel data. Section 4 synthesizes the literature on the impact of refugees on sending and receiving communities. Section 5 discusses some political economy issues surrounding refugees, and their implications for modeling host nations’ asylum policy choices. The chapter closes in Section 6 with suggestions for further research.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652048'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 12. The Refugee/Asylum Seeker']
### Abstract:
['This chapter discusses the research in economics on refugees and asylum seekers. Section 1 describes the trends in asylum seeking by source and host country. Section 2 presents a conceptual framework on why refugees might differ from other types of immigrants, and provides a new analysis comparing refugees to other immigrants in the United States using a sample of immigrants recently granted legal permanent residency. Section 3 describes a conceptual framework on why investments in host-country-specific human capital might differ between refugees and other immigrants, and presents a new analysis of refugee economic integration in the United States using synthetic panel data. Section 4 synthesizes the literature on the impact of refugees on sending and receiving communities. Section 5 discusses some political economy issues surrounding refugees, and their implications for modeling host nations’ asylum policy choices. The chapter closes in Section 6 with suggestions for further research.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652048']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831652056.jsonld | ['Chapter 11. High-Skilled Immigration in a Globalized Labor Market'] | ['The economics literature on the international migration of skilled workers is reviewed and recent policy trends are evaluated. The theoretical implications of skilled migration are discussed within the context of the benefits to the skilled immigrant, the sending country, and the receiving country. The types of immigrant selection mechanisms are also detailed, with emphasis on their advantages and disadvantages. The recent immigration policies of a number of major immigrant-receiving countries such as Canada, the US, and Australia are critically evaluated. The expanded use of skilled temporary foreign workers and international students is discussed, as is and the recent emergence of two-step immigration policies that favor temporary migrants already in the country as sources of permanent immigration. An overview of key results in the literature on the economic performance of skilled immigrants is presented with a particular focus on the wage returns to skill both in terms of regulated and unregulated occupations. The implications of competition among the growing number of countries with skilled immigration policies are considered.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652056'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 11. High-Skilled Immigration in a Globalized Labor Market']
### Abstract:
['The economics literature on the international migration of skilled workers is reviewed and recent policy trends are evaluated. The theoretical implications of skilled migration are discussed within the context of the benefits to the skilled immigrant, the sending country, and the receiving country. The types of immigrant selection mechanisms are also detailed, with emphasis on their advantages and disadvantages. The recent immigration policies of a number of major immigrant-receiving countries such as Canada, the US, and Australia are critically evaluated. The expanded use of skilled temporary foreign workers and international students is discussed, as is and the recent emergence of two-step immigration policies that favor temporary migrants already in the country as sources of permanent immigration. An overview of key results in the literature on the economic performance of skilled immigrants is presented with a particular focus on the wage returns to skill both in terms of regulated and unregulated occupations. The implications of competition among the growing number of countries with skilled immigration policies are considered.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652056']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831652072.jsonld | ['Chapter 9. From Aliens to Citizens : The Political Incorporation of Immigrants'] | ['This chapter deals with the political incorporation of immigrants in host societies. Political incorporation is discussed with regard to the regulation of legal status, rights, opportunities, and acquisition of citizenship. We give examples of the legal regulation and policies from several countries in the world, showing thereby the diversity of approaches to political incorporation but also similarities to the regulation of access to residence, rights, and citizenship. We highlight changes in this regard since the Second World War and discuss more recent trends. Moreover, we discuss different factors explaining the variation in incorporation policies. Also, this chapter traces different dimensions of political participation of immigrants, and, finally, we address the expected effects on wider integration of citizenship acquisition.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652072'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 9. From Aliens to Citizens : The Political Incorporation of Immigrants']
### Abstract:
['This chapter deals with the political incorporation of immigrants in host societies. Political incorporation is discussed with regard to the regulation of legal status, rights, opportunities, and acquisition of citizenship. We give examples of the legal regulation and policies from several countries in the world, showing thereby the diversity of approaches to political incorporation but also similarities to the regulation of access to residence, rights, and citizenship. We highlight changes in this regard since the Second World War and discuss more recent trends. Moreover, we discuss different factors explaining the variation in incorporation policies. Also, this chapter traces different dimensions of political participation of immigrants, and, finally, we address the expected effects on wider integration of citizenship acquisition.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652072']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831652102.jsonld | ['Chapter 6. Immigrants and Immigrant Health'] | ['Using the National Health Interview Survey (1989–2011), we document the Healthy Immigrant Effect (HIE)—immigrants are in better health upon arrival in the United States than their native counterparts, but this health advantage erodes over time—irrespective of the health measure, race/ethnicity, or gender. Further, most immigrant groups arrive lighter than natives and then converge towards their native counterparts, suggesting acculturation plays a role in explaining the HIE. Finally, we show that constraining the period effects to be the same for natives and immigrants may lead one to conclude there is no evidence of unhealthy assimilation, particularly if the rates at which natives and immigrants are becoming unhealthy differ from each other and change across time periods.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652102'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 6. Immigrants and Immigrant Health']
### Abstract:
['Using the National Health Interview Survey (1989–2011), we document the Healthy Immigrant Effect (HIE)—immigrants are in better health upon arrival in the United States than their native counterparts, but this health advantage erodes over time—irrespective of the health measure, race/ethnicity, or gender. Further, most immigrant groups arrive lighter than natives and then converge towards their native counterparts, suggesting acculturation plays a role in explaining the HIE. Finally, we show that constraining the period effects to be the same for natives and immigrants may lead one to conclude there is no evidence of unhealthy assimilation, particularly if the rates at which natives and immigrants are becoming unhealthy differ from each other and change across time periods.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652102']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831652110.jsonld | ['Chapter 5. International Migration and the Economics of Language'] | ["This chapter reports on the “economics of language” for immigrants—that is, the influence of language on the choice of destination among international migrants, the determinants among immigrants of destination language proficiency, and the labor market consequences of that proficiency, as expressed in their earnings. Immigrants tend to take language differences across countries into account when deciding whether to migrate and in the choice of the destination. The propensity to migrate to a particular destination, other variables being the same, is greater the smaller the “linguistic distance” between the migrant's language skills and the dominant language in the destination. The determinants of destination language proficiency are shown to be consistent with a model based on the Exposure to the destination language in the origin and the destination, Efficiency in acquiring destination language proficiency, including education, age at migration and linguistic distance, among other variables, and Economic incentives, including the effects of higher earnings and a longer expected duration of residence. This model is shown to be robust for the several immigrant receiving countries studied. Earnings among immigrants are shown to be greater among those more proficient in the destination language, other variables being the same. The earnings payoff tends to be high, yet this underestimates the total returns as it does not include the social, cultural, and political benefits of destination proficiency or the complementarity of destination language skills and investments in other forms of human capital. The chapter closes with a discussion of some policy issues."] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652110'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 5. International Migration and the Economics of Language']
### Abstract:
["This chapter reports on the “economics of language” for immigrants—that is, the influence of language on the choice of destination among international migrants, the determinants among immigrants of destination language proficiency, and the labor market consequences of that proficiency, as expressed in their earnings. Immigrants tend to take language differences across countries into account when deciding whether to migrate and in the choice of the destination. The propensity to migrate to a particular destination, other variables being the same, is greater the smaller the “linguistic distance” between the migrant's language skills and the dominant language in the destination. The determinants of destination language proficiency are shown to be consistent with a model based on the Exposure to the destination language in the origin and the destination, Efficiency in acquiring destination language proficiency, including education, age at migration and linguistic distance, among other variables, and Economic incentives, including the effects of higher earnings and a longer expected duration of residence. This model is shown to be robust for the several immigrant receiving countries studied. Earnings among immigrants are shown to be greater among those more proficient in the destination language, other variables being the same. The earnings payoff tends to be high, yet this underestimates the total returns as it does not include the social, cultural, and political benefits of destination proficiency or the complementarity of destination language skills and investments in other forms of human capital. The chapter closes with a discussion of some policy issues."]
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652110']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831652129.jsonld | ['Chapter 4. The Human Capital (Schooling) of Immigrants in America'] | ['This chapter deals with several salient issues about immigrants to the US and their education. These issues include a comparison of the schooling accomplishments of immigrants and the native-born that emphasizes the considerable diversity in the schooling accomplishments among different immigrant subgroups and between legal and undocumented migrants. I also examine the role of the foreign-born who come to the United States for post-secondary schooling. Finally, I show that the educational generational progress among all groups of immigrants to the United States has been quite impressive during the nineteenth and twentieth centuries.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652129'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 4. The Human Capital (Schooling) of Immigrants in America']
### Abstract:
['This chapter deals with several salient issues about immigrants to the US and their education. These issues include a comparison of the schooling accomplishments of immigrants and the native-born that emphasizes the considerable diversity in the schooling accomplishments among different immigrant subgroups and between legal and undocumented migrants. I also examine the role of the foreign-born who come to the United States for post-secondary schooling. Finally, I show that the educational generational progress among all groups of immigrants to the United States has been quite impressive during the nineteenth and twentieth centuries.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652129']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831652137.jsonld | ['Chapter 3. The Adjustment of Immigrants in the Labor Market'] | ['This chapter explores immigrant labor market adjustment by first describing methodological and theoretical considerations central to the analysis of earnings growth and occupational mobility. When no restrictions are placed on entry earnings or earnings growth, an inverse relationship between immigrant entry earnings and earnings growth emerges. An implication of this relationship is that the popular method for controlling for cohort effects developed by Borjas, and used in almost all recent studies of immigrant adjustment, is flawed. Recent US immigrants have low initial earnings, relative to natives and earlier immigrant cohorts, but high earnings growth, a pattern consistent with high levels of human capital investment. Why immigrants invest more in human capital than natives, and why investment patterns vary across immigrant groups, is explored. Important individual attributes include how easily immigrants’ source-country human capital transfers to the host country and how permanently attached immigrants are to the host country. Economic and social contexts, beyond the individual, are highlighted. Labor market adjustment from a family perspective is examined, with light shed on the controversy surrounding the Family Investment Hypothesis. The chapter concludes with a framework for examining immigrant adjustment across the labor markets of major immigrant-host countries and with directions for future research.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652137'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 3. The Adjustment of Immigrants in the Labor Market']
### Abstract:
['This chapter explores immigrant labor market adjustment by first describing methodological and theoretical considerations central to the analysis of earnings growth and occupational mobility. When no restrictions are placed on entry earnings or earnings growth, an inverse relationship between immigrant entry earnings and earnings growth emerges. An implication of this relationship is that the popular method for controlling for cohort effects developed by Borjas, and used in almost all recent studies of immigrant adjustment, is flawed. Recent US immigrants have low initial earnings, relative to natives and earlier immigrant cohorts, but high earnings growth, a pattern consistent with high levels of human capital investment. Why immigrants invest more in human capital than natives, and why investment patterns vary across immigrant groups, is explored. Important individual attributes include how easily immigrants’ source-country human capital transfers to the host country and how permanently attached immigrants are to the host country. Economic and social contexts, beyond the individual, are highlighted. Labor market adjustment from a family perspective is examined, with light shed on the controversy surrounding the Family Investment Hypothesis. The chapter concludes with a framework for examining immigrant adjustment across the labor markets of major immigrant-host countries and with directions for future research.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652137']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831652153.jsonld | ['Chapter 1. Migration Theory'] | ['This chapter provides a comprehensive expository survey and synthesis of the theoretical determinants of migration. Early work beginning with Adam Smith, running through the pioneering research of Larry Sjaastad in the 1960s, and continuing through the end of the twentieth century established the broad themes that persist in the literature. Migration is an act of human capital investment. Whether migration occurs across internal or international borders is largely irrelevant from a theoretical standpoint, as both types of flows are primarily driven by a desire to exploit geographic variation in the return to labor. We go on to show that while the earliest models treated migration as a static decision determined by exogenous wages that vary across different levels of human capital, more recent models emphasize the endogenous and dynamic nature of the migration decision and wages. We conclude the chapter with suggestions of further extensions of the human capital/migration model.'] | ['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652153'] | ['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt'] | Document
### Title: ['Chapter 1. Migration Theory']
### Abstract:
['This chapter provides a comprehensive expository survey and synthesis of the theoretical determinants of migration. Early work beginning with Adam Smith, running through the pioneering research of Larry Sjaastad in the 1960s, and continuing through the end of the twentieth century established the broad themes that persist in the literature. Migration is an act of human capital investment. Whether migration occurs across internal or international borders is largely irrelevant from a theoretical standpoint, as both types of flows are primarily driven by a desire to exploit geographic variation in the return to labor. We go on to show that while the earliest models treated migration as a static decision determined by exogenous wages that vary across different levels of human capital, more recent models emphasize the endogenous and dynamic nature of the migration decision and wages. We conclude the chapter with suggestions of further extensions of the human capital/migration model.']
### GND ID:
['gnd:4069332-6', 'gnd:4120730-0', 'gnd:4501977-0', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652153']
### GND class:
['Berufliche Integration', 'Migration', 'Internationaler Arbeitsmarkt']
<|eot_id|> |
3A1831652323.jsonld | ['Author Index'] | ['This chapter lists the terms that have contributed to the book, Handbooks in Economics , such as altruism, ambivalence, amenities, and others. These terms have been mentioned along with the page numbers in which they appear in the bookfor the ease of the reader.'] | ['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652323'] | ['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm'] | Document
### Title: ['Author Index']
### Abstract:
['This chapter lists the terms that have contributed to the book, Handbooks in Economics , such as altruism, ambivalence, amenities, and others. These terms have been mentioned along with the page numbers in which they appear in the bookfor the ease of the reader.']
### GND ID:
['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652323']
### GND class:
['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm']
<|eot_id|> |
3A1831652358.jsonld | ['Contributors'] | ['This chapter lists the names of the people who have contributed to the book, Handbook of Social Economics, such as Lawrence E. Blume, William A. Brock, Steven N. Durlauf, and others. Their names have been mentioned along with their addressfor reference to the reader.'] | ['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652358'] | ['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm'] | Document
### Title: ['Contributors']
### Abstract:
['This chapter lists the names of the people who have contributed to the book, Handbook of Social Economics, such as Lawrence E. Blume, William A. Brock, Steven N. Durlauf, and others. Their names have been mentioned along with their addressfor reference to the reader.']
### GND ID:
['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652358']
### GND class:
['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm']
<|eot_id|> |
3A1831652374.jsonld | ['Chapter 25. Neighborhood Effects And Housing'] | ['This chapter focuses on neighborhood effects in housing markets. Households in effect choose neighborhood effects, or more generally social interactions, via their location decisions, which renders them endogenous. Across several classes of models that it examines, it emphasizes how we may detect empirically the presence of neighborhood effects when they may be priced by housing markets and be capitalized into housing values and rents. The chapter focuses on models that are empirically relevant and help identify neighborhood effects, and discusses actual empirical findings. The first class of models examined involves models of choice over discrete sets of individual dwelling units that allow for a multidimensional bundle of characteristics. These models extend the BerryLevisohnPakes characteristics-based approach and allow for endogenous contextual effects. The chapter develops in detail a specific application that also endogenizes contextual effects at a low level of dimensionality. The chapter examines neighborhood choice, with endogenous and contextual neighborhood effects, and housing demand (with housing being measured as a scalar) as joint decisions. This approach utilizes individual and neighborhood-level data at several levels of aggregation. The chapter next examines neighborhood effects within the canonical AlonsoMillsMuth urban model with a well-defined spatial structure. Finally, the chapter reviews hierarchical models of neighborhood location in the presence of social interactions. These models describe communities in terms of a low-dimensional vector of attributes that are aggregated into a public good whose consumption is nonrival. Such approaches are designed to utilize community-level data, along with information on the community-specific distributions of various sociodemographicsociodemographic characteristics of individuals.'] | ['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652374'] | ['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm'] | Document
### Title: ['Chapter 25. Neighborhood Effects And Housing']
### Abstract:
['This chapter focuses on neighborhood effects in housing markets. Households in effect choose neighborhood effects, or more generally social interactions, via their location decisions, which renders them endogenous. Across several classes of models that it examines, it emphasizes how we may detect empirically the presence of neighborhood effects when they may be priced by housing markets and be capitalized into housing values and rents. The chapter focuses on models that are empirically relevant and help identify neighborhood effects, and discusses actual empirical findings. The first class of models examined involves models of choice over discrete sets of individual dwelling units that allow for a multidimensional bundle of characteristics. These models extend the BerryLevisohnPakes characteristics-based approach and allow for endogenous contextual effects. The chapter develops in detail a specific application that also endogenizes contextual effects at a low level of dimensionality. The chapter examines neighborhood choice, with endogenous and contextual neighborhood effects, and housing demand (with housing being measured as a scalar) as joint decisions. This approach utilizes individual and neighborhood-level data at several levels of aggregation. The chapter next examines neighborhood effects within the canonical AlonsoMillsMuth urban model with a well-defined spatial structure. Finally, the chapter reviews hierarchical models of neighborhood location in the presence of social interactions. These models describe communities in terms of a low-dimensional vector of attributes that are aggregated into a public good whose consumption is nonrival. Such approaches are designed to utilize community-level data, along with information on the community-specific distributions of various sociodemographicsociodemographic characteristics of individuals.']
### GND ID:
['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652374']
### GND class:
['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm']
<|eot_id|> |
3A1831652382.jsonld | ['Chapter 24. Risk Sharing Between Households'] | ['This chapter reviews the literature identifying the different roles that family and kinship networks play in sharing risk. After a brief overview of efficient risk sharing, we discuss the channels by which households pool risk and the motives for entering in binding informal arrangements. Informal risk sharing arrangements are often thought to be enforced via reciprocal repeated relationships that are not family or kin specific. Other explanations draw from behavioral psychology and evolutionary biology and emphasize the link between gene transmission, family ties, and altruism. Next, we turn to the formation of risk sharing arrangements, either as partially overlapping networks or as risk sharing groups. We find that both types of arrangements often coexist and complement each other. The nature of strategic interactions among individuals and households has been shown to affect the stability of the resulting risk sharing equilibria. We finish with a discussion of the available evidence on strategic link and group formation.'] | ['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652382'] | ['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm'] | Document
### Title: ['Chapter 24. Risk Sharing Between Households']
### Abstract:
['This chapter reviews the literature identifying the different roles that family and kinship networks play in sharing risk. After a brief overview of efficient risk sharing, we discuss the channels by which households pool risk and the motives for entering in binding informal arrangements. Informal risk sharing arrangements are often thought to be enforced via reciprocal repeated relationships that are not family or kin specific. Other explanations draw from behavioral psychology and evolutionary biology and emphasize the link between gene transmission, family ties, and altruism. Next, we turn to the formation of risk sharing arrangements, either as partially overlapping networks or as risk sharing groups. We find that both types of arrangements often coexist and complement each other. The nature of strategic interactions among individuals and households has been shown to affect the stability of the resulting risk sharing equilibria. We finish with a discussion of the available evidence on strategic link and group formation.']
### GND ID:
['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652382']
### GND class:
['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm']
<|eot_id|> |
3A1831652404.jsonld | ['Chapter 22. Labor Markets and Referrals'] | ['The use of social networks and personal referrals in the labor market is very widespread. Both firms and workers may find it beneficial to use these informal channels to produce successful matches between job seekers and vacancies. This Chapter discusses the existing literature and highlights the most robust results. It describes the theoretical literature on the use of informal search methods, both in a micro and in a macro setting, as well as the empirical findings in this area. The empirical evidence comes both from direct surveys of workers and firms and from indirect estimates that exploit structural modeling as well as natural experiments. Finally, the Chapter discusses open questions and possible avenues for future research.'] | ['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652404'] | ['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm'] | Document
### Title: ['Chapter 22. Labor Markets and Referrals']
### Abstract:
['The use of social networks and personal referrals in the labor market is very widespread. Both firms and workers may find it beneficial to use these informal channels to produce successful matches between job seekers and vacancies. This Chapter discusses the existing literature and highlights the most robust results. It describes the theoretical literature on the use of informal search methods, both in a micro and in a macro setting, as well as the empirical findings in this area. The empirical evidence comes both from direct surveys of workers and firms and from indirect estimates that exploit structural modeling as well as natural experiments. Finally, the Chapter discusses open questions and possible avenues for future research.']
### GND ID:
['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652404']
### GND class:
['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm']
<|eot_id|> |
3A1831652412.jsonld | ['Chapter 21. The Importance of Segregation, Discrimination, Peer Dynamics, and Identity in Explaining Trends in the Racial Achievement Gap'] | ['After decades of narrowing, the achievement gap between black and white school children widened in the 1990s a period when the labor market rewards for education were increasing. This presents an important puzzle for economists. In this chapter, I investigate the extent to which economic models of segregation, information-based discrimination, peer dynamics, and identity can explain this puzzle. Under a reasonable set of assumptions, models of peer dynamics and identity are consistent with the time-series data. Segregation and models of discrimination both contradict the trends in important ways.'] | ['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652412'] | ['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm'] | Document
### Title: ['Chapter 21. The Importance of Segregation, Discrimination, Peer Dynamics, and Identity in Explaining Trends in the Racial Achievement Gap']
### Abstract:
['After decades of narrowing, the achievement gap between black and white school children widened in the 1990s a period when the labor market rewards for education were increasing. This presents an important puzzle for economists. In this chapter, I investigate the extent to which economic models of segregation, information-based discrimination, peer dynamics, and identity can explain this puzzle. Under a reasonable set of assumptions, models of peer dynamics and identity are consistent with the time-series data. Segregation and models of discrimination both contradict the trends in important ways.']
### GND ID:
['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652412']
### GND class:
['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm']
<|eot_id|> |
3A1831652420.jsonld | ['Chapter 20. Peer Effects in Education : A Survey of the Theory and Evidence'] | ['We survey the theoretical and empirical literature on peer effects in education. Theoretical models of peer effects are first summarized. Models of educational provision regimes in which peer effects play a central role are then discussed. Next we discuss the identification issues in estimating peer effects and strategies used to resolve them. Last we survey the empirical evidence on and channels of peer effects in education.'] | ['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652420'] | ['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm'] | Document
### Title: ['Chapter 20. Peer Effects in Education : A Survey of the Theory and Evidence']
### Abstract:
['We survey the theoretical and empirical literature on peer effects in education. Theoretical models of peer effects are first summarized. Models of educational provision regimes in which peer effects play a central role are then discussed. Next we discuss the identification issues in estimating peer effects and strategies used to resolve them. Last we survey the empirical evidence on and channels of peer effects in education.']
### GND ID:
['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652420']
### GND class:
['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm']
<|eot_id|> |
3A1831652439.jsonld | ['Chapter 19. Econometric Methods for the Analysis of Assignment Problems in the Presence of Complementarity and Social Spillovers'] | ['Concern over the distributional effects of policies which induce changes in peer group structure, or associational redistributions (Durlauf, 1996c), motivates a substantial body of theoretical and empirical research in economics, sociology, psychology, and education. A growing collection of econometric methods for characterizing the effects of such policies are now available. This chapter surveys these methods. I discuss the identification and estimation of the distributional effects of partner reassignment in one-on-one matching models, the average outcome and inequality effects of segregation, and treatment response in the presence of spillovers.'] | ['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652439'] | ['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm'] | Document
### Title: ['Chapter 19. Econometric Methods for the Analysis of Assignment Problems in the Presence of Complementarity and Social Spillovers']
### Abstract:
['Concern over the distributional effects of policies which induce changes in peer group structure, or associational redistributions (Durlauf, 1996c), motivates a substantial body of theoretical and empirical research in economics, sociology, psychology, and education. A growing collection of econometric methods for characterizing the effects of such policies are now available. This chapter surveys these methods. I discuss the identification and estimation of the distributional effects of partner reassignment in one-on-one matching models, the average outcome and inequality effects of segregation, and treatment response in the presence of spillovers.']
### GND ID:
['gnd:4027266-7', 'gnd:4066514-8', 'gnd:4079351-5', 'gnd:4120990-4', 'gnd:4132883-8', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652439']
### GND class:
['Interaktion', 'Wirtschaftssoziologie', 'Wirtschaftstheorie', 'Bekundete Präferenz', 'Soziale Norm']
<|eot_id|> |
3A1831652536.jsonld | ['Chapter 14. Choice Under Uncertainty: Empirical Methods and Experimental Results'] | ['This chapter is concerned with the empirical exploration and experimental investigation of the numerous theories of decision making under uncertainty proposed in the earlier chapters of this handbook. This chapter begins with static theories of behavior under risk ; then we look at dynamic theories under risk; and finally look at decision making under ambiguity (the theory of which is largely static at this point in time). As we proceed through the chapter we will come across a number of methodological issues concerning the conduct of experiments, and relating to the econometric analysis of the data. These issues will be elaborated further in the concluding subsections of the appropriate sections and in a concluding section at the end of the chapter.'] | ['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652536'] | ['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit'] | Document
### Title: ['Chapter 14. Choice Under Uncertainty: Empirical Methods and Experimental Results']
### Abstract:
['This chapter is concerned with the empirical exploration and experimental investigation of the numerous theories of decision making under uncertainty proposed in the earlier chapters of this handbook. This chapter begins with static theories of behavior under risk ; then we look at dynamic theories under risk; and finally look at decision making under ambiguity (the theory of which is largely static at this point in time). As we proceed through the chapter we will come across a number of methodological issues concerning the conduct of experiments, and relating to the econometric analysis of the data. These issues will be elaborated further in the concluding subsections of the appropriate sections and in a concluding section at the end of the chapter.']
### GND ID:
['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652536']
### GND class:
['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit']
<|eot_id|> |
3A1831652544.jsonld | ['Chapter 13. Ambiguity and Ambiguity Aversion'] | ['The phenomena of ambiguity and ambiguity aversion , introduced in Daniel Ellsberg’s seminal 1961 article, are ubiquitous in the real world and violate both the key rationality axioms and classic models of choice under uncertainty. In particular, they violate the hypothesis that individuals’ uncertain beliefs can be represented by subjective probabilities (sometimes called personal probabilities or priors ). This chapter begins with a review of early notions of subjective probability and Leonard Savage’s joint axiomatic formalization of expected utility and subjective probability. It goes on to describe Ellsberg’s classic urn paradoxes and the extensive experimental literature they have inspired. It continues with analytical descriptions of the numerous (primarily axiomatic) models of ambiguity aversion which have been developed by economic theorists, and concludes with a discussion of some current theoretical topics and newer examples of ambiguity aversion.'] | ['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652544'] | ['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit'] | Document
### Title: ['Chapter 13. Ambiguity and Ambiguity Aversion']
### Abstract:
['The phenomena of ambiguity and ambiguity aversion , introduced in Daniel Ellsberg’s seminal 1961 article, are ubiquitous in the real world and violate both the key rationality axioms and classic models of choice under uncertainty. In particular, they violate the hypothesis that individuals’ uncertain beliefs can be represented by subjective probabilities (sometimes called personal probabilities or priors ). This chapter begins with a review of early notions of subjective probability and Leonard Savage’s joint axiomatic formalization of expected utility and subjective probability. It goes on to describe Ellsberg’s classic urn paradoxes and the extensive experimental literature they have inspired. It continues with analytical descriptions of the numerous (primarily axiomatic) models of ambiguity aversion which have been developed by economic theorists, and concludes with a discussion of some current theoretical topics and newer examples of ambiguity aversion.']
### GND ID:
['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652544']
### GND class:
['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit']
<|eot_id|> |
3A1831652579.jsonld | ['Chapter 10. Environmental Risk and Uncertainty'] | ['Environmental risks may comprise the most important policy-related application of the economics of risk and uncertainty. Many biases in risk assessment and regulation, such as the conservatism bias in risk assessment and the stringent regulation of synthetic chemicals, reflect a form of ambiguity aversion. Nevertheless, there is evidence that people can learn from warnings and risk information, such as Toxics Release Inventory data, consistent with Bayesian models. The fundamental uncertainties with respect to environmental risks are coupled with irreversibilities, making sequential decisions and adaptive behavior desirable. Uncertainties over the benefits and costs of mitigating environmental risks pose challenges for any regulator, but insights drawn from the instrument choice literature can inform the design and implementation of welfare-maximizing environmental pollution control policies. The problem of mitigating climate change risks motivates a series of illustrations of how uncertainty affects policy.'] | ['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652579'] | ['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit'] | Document
### Title: ['Chapter 10. Environmental Risk and Uncertainty']
### Abstract:
['Environmental risks may comprise the most important policy-related application of the economics of risk and uncertainty. Many biases in risk assessment and regulation, such as the conservatism bias in risk assessment and the stringent regulation of synthetic chemicals, reflect a form of ambiguity aversion. Nevertheless, there is evidence that people can learn from warnings and risk information, such as Toxics Release Inventory data, consistent with Bayesian models. The fundamental uncertainties with respect to environmental risks are coupled with irreversibilities, making sequential decisions and adaptive behavior desirable. Uncertainties over the benefits and costs of mitigating environmental risks pose challenges for any regulator, but insights drawn from the instrument choice literature can inform the design and implementation of welfare-maximizing environmental pollution control policies. The problem of mitigating climate change risks motivates a series of illustrations of how uncertainty affects policy.']
### GND ID:
['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652579']
### GND class:
['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit']
<|eot_id|> |
3A1831652595.jsonld | ['Chapter 8. Economic Analysis of Risk and Uncertainty Induced by Health Shocks: A Review and Extension'] | ['We review and extend the economic analysis of mitigating risks in the presence of health shocks. The existing literature is mainly focused on how shocks affect consumption, for example through their impact on medical spending. We argue that this focus is limited in that shocks to health itself, rather than consumption, may be more damaging. Since human capital is not transferrable, health risk—unlike medical spending risk—cannot be pooled through traditional insurance. Instead, medical innovation is the main method of achieving smoothing in health across disease states. We explore the welfare implications of this “health insurance” view of medical R&D . We also review the evidence on how FDA regulations affect overall health risk, as regulations lower health risks of products ex post but raise risk ex ante by discouraging medical innovation. More analysis seems warranted on the relative value of programs aimed at mitigating shocks to health itself by stimulating innovation versus health insurance reforms aimed mainly at consumption smoothing.'] | ['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652595'] | ['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit'] | Document
### Title: ['Chapter 8. Economic Analysis of Risk and Uncertainty Induced by Health Shocks: A Review and Extension']
### Abstract:
['We review and extend the economic analysis of mitigating risks in the presence of health shocks. The existing literature is mainly focused on how shocks affect consumption, for example through their impact on medical spending. We argue that this focus is limited in that shocks to health itself, rather than consumption, may be more damaging. Since human capital is not transferrable, health risk—unlike medical spending risk—cannot be pooled through traditional insurance. Instead, medical innovation is the main method of achieving smoothing in health across disease states. We explore the welfare implications of this “health insurance” view of medical R&D . We also review the evidence on how FDA regulations affect overall health risk, as regulations lower health risks of products ex post but raise risk ex ante by discouraging medical innovation. More analysis seems warranted on the relative value of programs aimed at mitigating shocks to health itself by stimulating innovation versus health insurance reforms aimed mainly at consumption smoothing.']
### GND ID:
['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652595']
### GND class:
['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit']
<|eot_id|> |
3A1831652617.jsonld | ['Chapter 6. Uncertainty and Imperfect Information in Markets'] | ['This chapter deals with uncertainty and incomplete information in markets. It first considers situations in which the contract proposer is the ignorant party with the problem of designing a mechanism that induces the counter party, who is exogenously endowed with his information, to reveal that information in such a way that maximizes the contract proposer’s expected payoff. In contrast to settings of symmetric information, inefficiencies will tend to arise in equilibrium. Also considered is the situation when each side of the transaction is endowed with his or her own payoff-relevant information. Here the focus is on whether and how a social planner could design a contract to achieve efficiency. The following section assumes it is the contract proposer who is endowed with the payoff-relevant information. The quintessential example of this is a seller who knows the quality of the good she seeks to sell. Because she cannot commit fully to not deceive her counter party, inefficiencies arise. The last section examines the problems that arise if the asymmetry of information arises endogenously, because one party’s prior-to-trade actions provide him or her payoff-relevant information.'] | ['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652617'] | ['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit'] | Document
### Title: ['Chapter 6. Uncertainty and Imperfect Information in Markets']
### Abstract:
['This chapter deals with uncertainty and incomplete information in markets. It first considers situations in which the contract proposer is the ignorant party with the problem of designing a mechanism that induces the counter party, who is exogenously endowed with his information, to reveal that information in such a way that maximizes the contract proposer’s expected payoff. In contrast to settings of symmetric information, inefficiencies will tend to arise in equilibrium. Also considered is the situation when each side of the transaction is endowed with his or her own payoff-relevant information. Here the focus is on whether and how a social planner could design a contract to achieve efficiency. The following section assumes it is the contract proposer who is endowed with the payoff-relevant information. The quintessential example of this is a seller who knows the quality of the good she seeks to sell. Because she cannot commit fully to not deceive her counter party, inefficiencies arise. The last section examines the problems that arise if the asymmetry of information arises endogenously, because one party’s prior-to-trade actions provide him or her payoff-relevant information.']
### GND ID:
['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652617']
### GND class:
['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit']
<|eot_id|> |
3A1831652625.jsonld | ['Chapter 5. Insurance and Insurance Markets'] | ['Kenneth Arrow and Karl Borch published several important articles in the early 1960s that can be viewed as the beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and adverse selection. It then turns to financial pricing models of insurance and to analyses of price volatility and underwriting cycles; insurance price regulation; insurance company capital adequacy and capital regulation; the development of insurance securitization and insurance-linked securities; and the efficiency, distribution, organizational form, and governance of insurance organizations.'] | ['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652625'] | ['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit'] | Document
### Title: ['Chapter 5. Insurance and Insurance Markets']
### Abstract:
['Kenneth Arrow and Karl Borch published several important articles in the early 1960s that can be viewed as the beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and adverse selection. It then turns to financial pricing models of insurance and to analyses of price volatility and underwriting cycles; insurance price regulation; insurance company capital adequacy and capital regulation; the development of insurance securitization and insurance-linked securities; and the efficiency, distribution, organizational form, and governance of insurance organizations.']
### GND ID:
['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652625']
### GND class:
['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit']
<|eot_id|> |
3A1831652633.jsonld | ['Chapter 4. Assessment and Estimation of Risk Preferences'] | ['This chapter surveys the rapidly growing literature in which risk preferences are measured and manipulated in laboratory and field experiments. The most commonly used measurement instruments are: an investment task for allocations between a safe and risky asset, a choice menu task for eliciting probability indifference points, and a pricing task for eliciting certainty equivalents of a lottery. These methods are compared in a manner that will help the practitioner decide which one to use, and how to deal with methodological issues associated with incentives, stakes, and the structure of choice menus. Applications involve using inferred risk preferences to document demographic effects, e.g. gender, and to explain the effects of risk aversion on observed behavior in economic in settings, e.g. bargaining, auctions, and contests. Some suggestions for evaluating the separate effects of utility curvature and probability weighting are provided.'] | ['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652633'] | ['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit'] | Document
### Title: ['Chapter 4. Assessment and Estimation of Risk Preferences']
### Abstract:
['This chapter surveys the rapidly growing literature in which risk preferences are measured and manipulated in laboratory and field experiments. The most commonly used measurement instruments are: an investment task for allocations between a safe and risky asset, a choice menu task for eliciting probability indifference points, and a pricing task for eliciting certainty equivalents of a lottery. These methods are compared in a manner that will help the practitioner decide which one to use, and how to deal with methodological issues associated with incentives, stakes, and the structure of choice menus. Applications involve using inferred risk preferences to document demographic effects, e.g. gender, and to explain the effects of risk aversion on observed behavior in economic in settings, e.g. bargaining, auctions, and contests. Some suggestions for evaluating the separate effects of utility curvature and probability weighting are provided.']
### GND ID:
['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652633']
### GND class:
['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit']
<|eot_id|> |
3A1831652641.jsonld | ['Chapter 3. The Theory of Risk and Risk Aversion'] | ['Risk and risk aversion are important concepts when modeling how to choose from or rank a set of random variables. This chapter reviews and summarizes the definitions and related findings concerning risk aversion and risk in both a mean-variance and an expected utility decision model context.'] | ['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652641'] | ['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit'] | Document
### Title: ['Chapter 3. The Theory of Risk and Risk Aversion']
### Abstract:
['Risk and risk aversion are important concepts when modeling how to choose from or rank a set of random variables. This chapter reviews and summarizes the definitions and related findings concerning risk aversion and risk in both a mean-variance and an expected utility decision model context.']
### GND ID:
['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652641']
### GND class:
['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit']
<|eot_id|> |
3A1831652668.jsonld | ['Chapter 1. Axiomatic Foundations of Expected Utility and Subjective Probability'] | ['This chapter provides a critical review of the theories of decision making under risk and under uncertainty and the notion of choice-based subjective probabilities. It includes formal statements and discussions of the various models, including their analytical frameworks, the corresponding axiomatic foundations, and the representations.'] | ['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652668'] | ['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit'] | Document
### Title: ['Chapter 1. Axiomatic Foundations of Expected Utility and Subjective Probability']
### Abstract:
['This chapter provides a critical review of the theories of decision making under risk and under uncertainty and the notion of choice-based subjective probabilities. It includes formal statements and discussions of the various models, including their analytical frameworks, the corresponding axiomatic foundations, and the representations.']
### GND ID:
['gnd:4050133-4', 'gnd:4070864-0', 'gnd:4120934-5', 'gnd:4135592-1', 'gnd:4186957-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652668']
### GND class:
['Risikoverhalten', 'Entscheidung bei Unsicherheit', 'Asymmetrische Information', 'Risikotheorie', 'Unsicherheit']
<|eot_id|> |
3A1831652757.jsonld | ['Chapter 9. Forecasting Real Estate Prices'] | ['This chapter reviews the evidence of predictability in U.S. residential and commercial real estate markets. First, we highlight the main methodologies used in the construction of real estate indices, their underlying assumptions and their impact on the stochastic properties of the resultant series. We then survey the key empirical findings in the academic literature, including short-run persistence and long-run reversals in the log changes of real estate prices. Next, we summarize the ability of local as well as aggregate variables to forecast real estate returns. We illustrate a number of these results by relying on six aggregate indexes of the prices of unsecuritized (residential and commercial) real estate and REITs. The effect of leverage and monetary policy is also discussed.'] | ['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652757'] | ['Wirtschaft', 'Prognoseverfahren'] | Document
### Title: ['Chapter 9. Forecasting Real Estate Prices']
### Abstract:
['This chapter reviews the evidence of predictability in U.S. residential and commercial real estate markets. First, we highlight the main methodologies used in the construction of real estate indices, their underlying assumptions and their impact on the stochastic properties of the resultant series. We then survey the key empirical findings in the academic literature, including short-run persistence and long-run reversals in the log changes of real estate prices. Next, we summarize the ability of local as well as aggregate variables to forecast real estate returns. We illustrate a number of these results by relying on six aggregate indexes of the prices of unsecuritized (residential and commercial) real estate and REITs. The effect of leverage and monetary policy is also discussed.']
### GND ID:
['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652757']
### GND class:
['Wirtschaft', 'Prognoseverfahren']
<|eot_id|> |
3A1831652765.jsonld | ['Chapter 8. Forecasting the Price of Oil'] | ['We address some of the key questions that arise in forecasting the price of crude oil. What do applied forecasters need to know about the choice of sample period and about the tradeoffs between alternative oil price series and model specifications? Are real and nominal oil prices predictable based on macroeconomic aggregates? Does this predictability translate into gains in out-of-sample forecast accuracy compared with conventional no-change forecasts? How useful are oil futures prices in forecasting the spot price of oil? How useful are survey forecasts? How does one evaluate the sensitivity of a baseline oil price forecast to alternative assumptions about future oil demand and oil supply conditions? How does one quantify risks associated with oil price forecasts? Can joint forecasts of the price of oil and of U.S. real GDP growth be improved upon by allowing for asymmetries?'] | ['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652765'] | ['Wirtschaft', 'Prognoseverfahren'] | Document
### Title: ['Chapter 8. Forecasting the Price of Oil']
### Abstract:
['We address some of the key questions that arise in forecasting the price of crude oil. What do applied forecasters need to know about the choice of sample period and about the tradeoffs between alternative oil price series and model specifications? Are real and nominal oil prices predictable based on macroeconomic aggregates? Does this predictability translate into gains in out-of-sample forecast accuracy compared with conventional no-change forecasts? How useful are oil futures prices in forecasting the spot price of oil? How useful are survey forecasts? How does one evaluate the sensitivity of a baseline oil price forecast to alternative assumptions about future oil demand and oil supply conditions? How does one quantify risks associated with oil price forecasts? Can joint forecasts of the price of oil and of U.S. real GDP growth be improved upon by allowing for asymmetries?']
### GND ID:
['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652765']
### GND class:
['Wirtschaft', 'Prognoseverfahren']
<|eot_id|> |
3A1831652773.jsonld | ['Chapter 7. Forecasting Interest Rates'] | ['This chapter discusses what the asset-pricing literature concludes about the forecastability of interest rates. It outlines forecasting methodologies implied by this literature, including dynamic, no-arbitrage term structure models and their macro-finance extensions. It also reviews the empirical evidence concerning the predictability of future yields on Treasury bonds and future excess returns to holding these bonds. In particular, it critically evaluates theory and evidence that variables other than current bond yields are useful in forecasting.'] | ['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652773'] | ['Wirtschaft', 'Prognoseverfahren'] | Document
### Title: ['Chapter 7. Forecasting Interest Rates']
### Abstract:
['This chapter discusses what the asset-pricing literature concludes about the forecastability of interest rates. It outlines forecasting methodologies implied by this literature, including dynamic, no-arbitrage term structure models and their macro-finance extensions. It also reviews the empirical evidence concerning the predictability of future yields on Treasury bonds and future excess returns to holding these bonds. In particular, it critically evaluates theory and evidence that variables other than current bond yields are useful in forecasting.']
### GND ID:
['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652773']
### GND class:
['Wirtschaft', 'Prognoseverfahren']
<|eot_id|> |
3A1831652781.jsonld | ['Chapter 6. Forecasting Stock Returns'] | ['We survey the literature on stock return forecasting, highlighting the challenges faced by forecasters as well as strategies for improving return forecasts. We focus on U.S. equity premium forecastability and illustrate key issues via an empirical application based on updated data. Some studies argue that, despite extensive in-sample evidence of equity premium predictability, popular predictors from the literature fail to outperform the simple historical average benchmark forecast in out-of-sample tests. Recent studies, however, provide improved forecasting strategies that deliver statistically and economically significant out-of-sample gains relative to the historical average benchmark. These strategies – including economically motivated model restrictions, forecast combination, diffusion indices, and regime shifts – improve forecasting performance by addressing the substantial model uncertainty and parameter instability surrounding the data-generating process for stock returns. In addition to the U.S. equity premium, we succinctly survey out-of-sample evidence supporting U.S. cross-sectional and international stock return forecastability. The significant evidence of stock return forecastability worldwide has important implications for the development of both asset pricing models and investment management strategies.'] | ['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652781'] | ['Wirtschaft', 'Prognoseverfahren'] | Document
### Title: ['Chapter 6. Forecasting Stock Returns']
### Abstract:
['We survey the literature on stock return forecasting, highlighting the challenges faced by forecasters as well as strategies for improving return forecasts. We focus on U.S. equity premium forecastability and illustrate key issues via an empirical application based on updated data. Some studies argue that, despite extensive in-sample evidence of equity premium predictability, popular predictors from the literature fail to outperform the simple historical average benchmark forecast in out-of-sample tests. Recent studies, however, provide improved forecasting strategies that deliver statistically and economically significant out-of-sample gains relative to the historical average benchmark. These strategies – including economically motivated model restrictions, forecast combination, diffusion indices, and regime shifts – improve forecasting performance by addressing the substantial model uncertainty and parameter instability surrounding the data-generating process for stock returns. In addition to the U.S. equity premium, we succinctly survey out-of-sample evidence supporting U.S. cross-sectional and international stock return forecastability. The significant evidence of stock return forecastability worldwide has important implications for the development of both asset pricing models and investment management strategies.']
### GND ID:
['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652781']
### GND class:
['Wirtschaft', 'Prognoseverfahren']
<|eot_id|> |
3A183165279X.jsonld | ['Chapter 5. Forecasting and Policy Making'] | ['Policymakers use forecasts to project the consequences of particular policy decisions for certain policy targets. This chapter investigates the use of economic forecasting in policy making by discussing practical examples, providing new empirical evidence and computing forecasts using different macroeconomic models. First, a theoretical framework is presented to differentiate the role of forecasts in simple feedback rules, optimal control policies, and forecast targeting. Then, we review institutional details of the forecasting process at fiscal authorities and central banks. We provide empirical evidence that central bank policy rate decisions in the United States and the Euro area are well described by interest rate rules responding to forecasts of inflation and economic activity rather than recent outcomes. Next, we provide a detailed exposition of methods for producing forecasts. We review forecasting models and provide practical applications. In particular, we illustrate how to use economic structure in interpreting forecasts and how to implement different conditioning assumptions regarding certain planned policy initiatives. Finally, we evaluate the accuracy of central bank and expert forecasts and investigate the interaction between forecasting and policy making by evaluating the performance and robustness of forecast-based policy rules under model uncertainty.'] | ['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165279X'] | ['Wirtschaft', 'Prognoseverfahren'] | Document
### Title: ['Chapter 5. Forecasting and Policy Making']
### Abstract:
['Policymakers use forecasts to project the consequences of particular policy decisions for certain policy targets. This chapter investigates the use of economic forecasting in policy making by discussing practical examples, providing new empirical evidence and computing forecasts using different macroeconomic models. First, a theoretical framework is presented to differentiate the role of forecasts in simple feedback rules, optimal control policies, and forecast targeting. Then, we review institutional details of the forecasting process at fiscal authorities and central banks. We provide empirical evidence that central bank policy rate decisions in the United States and the Euro area are well described by interest rate rules responding to forecasts of inflation and economic activity rather than recent outcomes. Next, we provide a detailed exposition of methods for producing forecasts. We review forecasting models and provide practical applications. In particular, we illustrate how to use economic structure in interpreting forecasts and how to implement different conditioning assumptions regarding certain planned policy initiatives. Finally, we evaluate the accuracy of central bank and expert forecasts and investigate the interaction between forecasting and policy making by evaluating the performance and robustness of forecast-based policy rules under model uncertainty.']
### GND ID:
['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165279X']
### GND class:
['Wirtschaft', 'Prognoseverfahren']
<|eot_id|> |
3A1831652803.jsonld | ['Chapter 4. Now-Casting and the Real-Time Data Flow'] | ['The term now-casting is a contraction for now and forecasting and has been used for a long time in meteorology and recently also in economics. In this chapter we survey recent developments in economic now-casting with special focus on those models that formalize key features of how market participants and policymakers read macroeconomic data releases in real-time, which involves monitoring many data, forming expectations about them and revising the assessment on the state of the economy whenever realizations diverge sizeably from those expectations.'] | ['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652803'] | ['Wirtschaft', 'Prognoseverfahren'] | Document
### Title: ['Chapter 4. Now-Casting and the Real-Time Data Flow']
### Abstract:
['The term now-casting is a contraction for now and forecasting and has been used for a long time in meteorology and recently also in economics. In this chapter we survey recent developments in economic now-casting with special focus on those models that formalize key features of how market participants and policymakers read macroeconomic data releases in real-time, which involves monitoring many data, forming expectations about them and revising the assessment on the state of the economy whenever realizations diverge sizeably from those expectations.']
### GND ID:
['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652803']
### GND class:
['Wirtschaft', 'Prognoseverfahren']
<|eot_id|> |
3A1831652811.jsonld | ['Chapter 3. Forecasting Output'] | ['This chapter surveys the recent literature on output forecasting, and examines the real-time forecasting ability of several models for U.S. output growth. In particular, it evaluates the accuracy of short-term forecasts of linear and nonlinear structural and reduced-form models, and judgmental forecasts of output growth. Our emphasis is on using solely the information that was available at the time the forecast was being made, in order to reproduce the forecasting problem facing forecasters in real-time. We find that there is a large difference in forecast performance across business cycle phases. In particular, it is much harder to forecast output growth during recessions than during expansions. Simple linear and nonlinear autoregressive models have the best accuracy in forecasting output growth during expansions, although the dynamic stochastic general equilibrium model and the vector autoregressive model with financial variables do relatively well. On the other hand, we find that most models do poorly in forecasting output growth during recessions. The autoregressive model based on the nonlinear dynamic factor model that takes into account asymmetries between expansions and recessions displays the best real time forecast accuracy during recessions. Even though the Blue Chip forecasts are comparable, the dynamic factor Markov switching model has better accuracy, particularly with respect to the timing and depth of output fall during recessions in real time. The results suggest that there are large gains in considering separate forecasting models for normal times and models especially designed for periods of abrupt changes, such as during recessions and financial crises.'] | ['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652811'] | ['Wirtschaft', 'Prognoseverfahren'] | Document
### Title: ['Chapter 3. Forecasting Output']
### Abstract:
['This chapter surveys the recent literature on output forecasting, and examines the real-time forecasting ability of several models for U.S. output growth. In particular, it evaluates the accuracy of short-term forecasts of linear and nonlinear structural and reduced-form models, and judgmental forecasts of output growth. Our emphasis is on using solely the information that was available at the time the forecast was being made, in order to reproduce the forecasting problem facing forecasters in real-time. We find that there is a large difference in forecast performance across business cycle phases. In particular, it is much harder to forecast output growth during recessions than during expansions. Simple linear and nonlinear autoregressive models have the best accuracy in forecasting output growth during expansions, although the dynamic stochastic general equilibrium model and the vector autoregressive model with financial variables do relatively well. On the other hand, we find that most models do poorly in forecasting output growth during recessions. The autoregressive model based on the nonlinear dynamic factor model that takes into account asymmetries between expansions and recessions displays the best real time forecast accuracy during recessions. Even though the Blue Chip forecasts are comparable, the dynamic factor Markov switching model has better accuracy, particularly with respect to the timing and depth of output fall during recessions in real time. The results suggest that there are large gains in considering separate forecasting models for normal times and models especially designed for periods of abrupt changes, such as during recessions and financial crises.']
### GND ID:
['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652811']
### GND class:
['Wirtschaft', 'Prognoseverfahren']
<|eot_id|> |
3A183165282X.jsonld | ['Chapter 2. DSGE Model-Based Forecasting'] | ['Dynamic stochastic general equilibrium (DSGE) models use modern macroeconomic theory to explain and predict comovements of aggregate time series over the business cycle and to perform policy analysis. We explain how to use DSGE models for all three purposes – forecasting, story-telling, and policy experiments – and review their forecasting record. We also provide our own real-time assessment of the forecasting performance of the Smets and Wouters (2007) model data up to 2011, compare it with Blue Chip and Greenbook forecasts, and show how it changes as we augment the standard set of observables with external information from surveys (nowcasts, interest rates, and long-run inflation and output growth expectations). We explore methods of generating forecasts in the presence of a zero-lower-bound constraint on nominal interest rates and conditional on counterfactual interest rate paths. Finally, we perform a post-mortem of DSGE model forecasts of the Great Recession, and show that forecasts from a version of the Smets–Wouters model augmented by financial frictions and with interest rate spreads as an observable compare well with Blue Chip forecasts.'] | ['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165282X'] | ['Wirtschaft', 'Prognoseverfahren'] | Document
### Title: ['Chapter 2. DSGE Model-Based Forecasting']
### Abstract:
['Dynamic stochastic general equilibrium (DSGE) models use modern macroeconomic theory to explain and predict comovements of aggregate time series over the business cycle and to perform policy analysis. We explain how to use DSGE models for all three purposes – forecasting, story-telling, and policy experiments – and review their forecasting record. We also provide our own real-time assessment of the forecasting performance of the Smets and Wouters (2007) model data up to 2011, compare it with Blue Chip and Greenbook forecasts, and show how it changes as we augment the standard set of observables with external information from surveys (nowcasts, interest rates, and long-run inflation and output growth expectations). We explore methods of generating forecasts in the presence of a zero-lower-bound constraint on nominal interest rates and conditional on counterfactual interest rate paths. Finally, we perform a post-mortem of DSGE model forecasts of the Great Recession, and show that forecasts from a version of the Smets–Wouters model augmented by financial frictions and with interest rate spreads as an observable compare well with Blue Chip forecasts.']
### GND ID:
['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165282X']
### GND class:
['Wirtschaft', 'Prognoseverfahren']
<|eot_id|> |
3A1831652838.jsonld | ['Chapter 1. Forecasting Inflation'] | ['This chapter discusses recent developments in inflation forecasting. We perform a horse-race among a large set of traditional and recently developed forecasting methods, and discuss a number of principles that emerge from this exercise. We find that judgmental survey forecasts outperform model-based ones, often by a wide margin. A very simple forecast that is just a glide path between the survey assessment of inflation in the current-quarter and the long-run survey forecast value turns out to be competitive with the actual survey forecast and thereby does about as well or better than model-based forecasts. We explore the strengths and weaknesses of some specific prediction methods, including forecasts based on the Phillips curve and based on dynamic stochastic general equilibrium models, in greater detail. We also consider measures of inflation expectations taken from financial markets and the tradeoff between forecasting aggregates and disaggregates.'] | ['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652838'] | ['Wirtschaft', 'Prognoseverfahren'] | Document
### Title: ['Chapter 1. Forecasting Inflation']
### Abstract:
['This chapter discusses recent developments in inflation forecasting. We perform a horse-race among a large set of traditional and recently developed forecasting methods, and discuss a number of principles that emerge from this exercise. We find that judgmental survey forecasts outperform model-based ones, often by a wide margin. A very simple forecast that is just a glide path between the survey assessment of inflation in the current-quarter and the long-run survey forecast value turns out to be competitive with the actual survey forecast and thereby does about as well or better than model-based forecasts. We explore the strengths and weaknesses of some specific prediction methods, including forecasts based on the Phillips curve and based on dynamic stochastic general equilibrium models, in greater detail. We also consider measures of inflation expectations taken from financial markets and the tradeoff between forecasting aggregates and disaggregates.']
### GND ID:
['gnd:4066399-1', 'gnd:4358095-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652838']
### GND class:
['Wirtschaft', 'Prognoseverfahren']
<|eot_id|> |
3A1831652897.jsonld | ['Chapter 10. Financing in Developing Countries'] | ['This chapter reviews and synthesizes theoretical and empirical research on the role of finance in developing countries. First, the paper presents the stylized facts about firms in developing nations as well as the legal, financial, and broader institutional framework in which these firms operate. Next, the paper focuses on the financing choices available to small and medium firms in developing countries and highlights areas needing additional research.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652897'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 10. Financing in Developing Countries']
### Abstract:
['This chapter reviews and synthesizes theoretical and empirical research on the role of finance in developing countries. First, the paper presents the stylized facts about firms in developing nations as well as the legal, financial, and broader institutional framework in which these firms operate. Next, the paper focuses on the financing choices available to small and medium firms in developing countries and highlights areas needing additional research.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652897']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831652919.jsonld | ['Chapter 8. A Survey of Venture Capital Research'] | ['This survey reviews the growing body of academic work on venture capital. It lays out the major data sources used. It examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment services, and exits. The survey considers recent work on organizational structures of venture capital firms, and the relationship between general and limited partners. It discusses the work on the returns to venture capital investments. It also examines public policies, and the role of venture capital in the economy at large.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652919'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 8. A Survey of Venture Capital Research']
### Abstract:
['This survey reviews the growing body of academic work on venture capital. It lays out the major data sources used. It examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment services, and exits. The survey considers recent work on organizational structures of venture capital firms, and the relationship between general and limited partners. It discusses the work on the returns to venture capital investments. It also examines public policies, and the role of venture capital in the economy at large.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652919']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831652943.jsonld | ['Chapter 5. Behavioral Corporate Finance: An Updated Survey'] | ['We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The managerial biases approach studies the direct effects of managers’ biases and nonstandard preferences on their decisions. We review relevant psychology, economic theory and predictions, empirical challenges, empirical evidence, new directions such as behavioral signaling, and open questions.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652943'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 5. Behavioral Corporate Finance: An Updated Survey']
### Abstract:
['We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The managerial biases approach studies the direct effects of managers’ biases and nonstandard preferences on their decisions. We review relevant psychology, economic theory and predictions, empirical challenges, empirical evidence, new directions such as behavioral signaling, and open questions.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652943']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831652951.jsonld | ['Chapter 4. Executive Compensation: Where We Are, and How We Got There'] | ['In this study, I summarize the current state of executive compensation, discuss measurement and incentive issues, document recent trends in executive pay in both U.S. and international firms, and analyze the evolution of executive pay over the past century. Most recent analyses of executive compensation have focused on efficient-contracting or managerial-power rationales for pay, while ignoring or downplaying the causes and consequences of disclosure requirements, tax policies, accounting rules, legislation, and the general political climate. A major theme of this study is that government intervention has been both a response to and a major driver of time trends in executive compensation over the past century, and that any explanation for pay that ignores political factors is critically incomplete.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652951'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 4. Executive Compensation: Where We Are, and How We Got There']
### Abstract:
['In this study, I summarize the current state of executive compensation, discuss measurement and incentive issues, document recent trends in executive pay in both U.S. and international firms, and analyze the evolution of executive pay over the past century. Most recent analyses of executive compensation have focused on efficient-contracting or managerial-power rationales for pay, while ignoring or downplaying the causes and consequences of disclosure requirements, tax policies, accounting rules, legislation, and the general political climate. A major theme of this study is that government intervention has been both a response to and a major driver of time trends in executive compensation over the past century, and that any explanation for pay that ignores political factors is critically incomplete.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652951']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A183165296X.jsonld | ['Chapter 3. Do Taxes Affect Corporate Decisions? A Review'] | ['This chapter reviews tax research related to whether corporate and personal taxes affect domestic and multinational capital structure, debt maturity, payout policy, compensation policy, risk management, earnings management, leasing, pensions, R&D partnerships, tax shelters, transfer pricing, repatriation of foreign profits, and organizational form. For each topic, theory related to how taxes can affect corporate decision making and firm value is reviewed, followed by a summary of the related empirical evidence and a discussion of unresolved issues. Tax research generally supports the hypothesis that high-tax rate firms make policy choices in response to tax incentives. Many issues remain unresolved, however, including understanding whether tax effects are of first-order importance, why firms do not pursue tax benefits more aggressively, and measuring the effect of investor-level taxes on corporate actions.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165296X'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 3. Do Taxes Affect Corporate Decisions? A Review']
### Abstract:
['This chapter reviews tax research related to whether corporate and personal taxes affect domestic and multinational capital structure, debt maturity, payout policy, compensation policy, risk management, earnings management, leasing, pensions, R&D partnerships, tax shelters, transfer pricing, repatriation of foreign profits, and organizational form. For each topic, theory related to how taxes can affect corporate decision making and firm value is reviewed, followed by a summary of the related empirical evidence and a discussion of unresolved issues. Tax research generally supports the hypothesis that high-tax rate firms make policy choices in response to tax incentives. Many issues remain unresolved, however, including understanding whether tax effects are of first-order importance, why firms do not pursue tax benefits more aggressively, and measuring the effect of investor-level taxes on corporate actions.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165296X']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831652978.jsonld | ['Chapter 2. Dynamic Security Design and Corporate Financing*'] | ['This essay considers dynamic security design and corporate financing, with particular emphasis on informational microfoundations. The central idea is that firm insiders must retain an appropriate share of firm risk, either to align their incentives with those of outside investors (moral hazard) or to signal favorable information about the quality of the firm’s assets. Informational problems lead to inevitable inefficiencies—imperfect risk sharing, the possibility of bankruptcy, investment distortions, etc. The design of contracts that minimize these inefficiencies is a central question. This essay explores the implications of dynamic security design on firm operations and asset prices.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652978'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 2. Dynamic Security Design and Corporate Financing*']
### Abstract:
['This essay considers dynamic security design and corporate financing, with particular emphasis on informational microfoundations. The central idea is that firm insiders must retain an appropriate share of firm risk, either to align their incentives with those of outside investors (moral hazard) or to signal favorable information about the quality of the firm’s assets. Informational problems lead to inevitable inefficiencies—imperfect risk sharing, the possibility of bankruptcy, investment distortions, etc. The design of contracts that minimize these inefficiencies is a central question. This essay explores the implications of dynamic security design on firm operations and asset prices.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652978']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831652986.jsonld | ['Chapter 1. Securitization'] | ['We survey the literature on securitization and lay out a research program for its open questions. Securitization is the process by which loans, previously held to maturity on the balance sheets of financial intermediaries, are sold in capital markets. Securitization has grown from a small amount in 1990 to a pre-crisis issuance amount that makes it one of the largest capital markets. In 2005 the amount of non-mortgage asset-backed securities issued in US capital markets exceeded the amount of US corporate debt issued, and these securitized bonds—even those unrelated to subprime mortgages—were at center of the recent financial crisis. Nevertheless, despite the transformative effect of securitization on financial intermediation, the literature is still relatively small and many fundamental questions remain open.'] | ['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652986'] | ['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)'] | Document
### Title: ['Chapter 1. Securitization']
### Abstract:
['We survey the literature on securitization and lay out a research program for its open questions. Securitization is the process by which loans, previously held to maturity on the balance sheets of financial intermediaries, are sold in capital markets. Securitization has grown from a small amount in 1990 to a pre-crisis issuance amount that makes it one of the largest capital markets. In 2005 the amount of non-mortgage asset-backed securities issued in US capital markets exceeded the amount of US corporate debt issued, and these securitized bonds—even those unrelated to subprime mortgages—were at center of the recent financial crisis. Nevertheless, despite the transformative effect of securitization on financial intermediation, the literature is still relatively small and many fundamental questions remain open.']
### GND ID:
['gnd:4269795-5', 'gnd:4508395-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831652986']
### GND class:
['Corporate Finance', 'Mikrostrukturtheorie (Kapitalmarkttheorie)']
<|eot_id|> |
3A1831653079.jsonld | ['Chapter Sixteen. Equity in Health and Health Care'] | ['We discuss the conceptual foundations of measuring (in)equity in health and health care. After an overview of the recent developments in the measurement of socioeconomic inequalities and in racial disparities, we show how these partial approaches can be seen as special cases of the more general social choice approach to fair allocation and equality of opportunity. We suggest that this latter framework offers many new analytical possibilities and is sufficiently rich to accommodate various ethical views. We emphasize that horizontal and vertical equity are intricately linked to each other. We then argue that a focus on overall well-being is necessary to put the partial results on health (care) inequity into a broader perspective, and we discuss the pros and cons of various methods to evaluate the joint distribution of health and income: multidimensional inequality indices, dominance approaches, the use of happiness measures, and finally the concept of equivalent income. Throughout the chapter the theoretical analysis is complemented with an overview of recent empirical results.'] | ['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653079'] | ['Gesundheitsökonomie'] | Document
### Title: ['Chapter Sixteen. Equity in Health and Health Care']
### Abstract:
['We discuss the conceptual foundations of measuring (in)equity in health and health care. After an overview of the recent developments in the measurement of socioeconomic inequalities and in racial disparities, we show how these partial approaches can be seen as special cases of the more general social choice approach to fair allocation and equality of opportunity. We suggest that this latter framework offers many new analytical possibilities and is sufficiently rich to accommodate various ethical views. We emphasize that horizontal and vertical equity are intricately linked to each other. We then argue that a focus on overall well-being is necessary to put the partial results on health (care) inequity into a broader perspective, and we discuss the pros and cons of various methods to evaluate the joint distribution of health and income: multidimensional inequality indices, dominance approaches, the use of happiness measures, and finally the concept of equivalent income. Throughout the chapter the theoretical analysis is complemented with an overview of recent empirical results.']
### GND ID:
['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653079']
### GND class:
['Gesundheitsökonomie']
<|eot_id|> |
3A1831653087.jsonld | ['Chapter Fifteen. Public and Private Sector Interface'] | ['A major feature of the health sector is the existence of health insurance, either public or private. Often both coexist in the same country. Public health insurance is often accompanied by public provision of health care. We consider two main areas of public–private interface: in funding of health care expenditures and in provision of health care. Within each area, both positive and normative views are explored. On funding issues, the role of three main sources of funds—public health insurance, private health insurance, and out-of-pocket payments—and their interactions are addressed. Topics covered in provision of health care include interaction of public and private providers, dual practice, and public–private partnerships. Empirical evidence is also reviewed.'] | ['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653087'] | ['Gesundheitsökonomie'] | Document
### Title: ['Chapter Fifteen. Public and Private Sector Interface']
### Abstract:
['A major feature of the health sector is the existence of health insurance, either public or private. Often both coexist in the same country. Public health insurance is often accompanied by public provision of health care. We consider two main areas of public–private interface: in funding of health care expenditures and in provision of health care. Within each area, both positive and normative views are explored. On funding issues, the role of three main sources of funds—public health insurance, private health insurance, and out-of-pocket payments—and their interactions are addressed. Topics covered in provision of health care include interaction of public and private providers, dual practice, and public–private partnerships. Empirical evidence is also reviewed.']
### GND ID:
['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653087']
### GND class:
['Gesundheitsökonomie']
<|eot_id|> |
3A1831653109.jsonld | ['Chapter Thirteen. Intellectual Property, Information Technology, Biomedical Research, and Marketing of Patented Products'] | ['Intellectual property rights are viewed as essential to medical innovation, but very often involve social costs due to patent monopolies and other inefficiencies. We review the positive theory of innovation in health care, as it relates to the determination of innovation demand and supply. The positive theory is related to a host of competing normative models of intellectual property, including patent races, cumulative or sequential innovation, and the implications of health insurance. We also discuss how intellectual property can be used to solve a variety of production externalities that afflict health care, including network externalities, underprovision of marketing, and inefficient provision of diagnostic information. Finally, we discuss novel approaches to protecting intellectual property, including rewards, innovation subsidies, and publicly provided health insurance.'] | ['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653109'] | ['Gesundheitsökonomie'] | Document
### Title: ['Chapter Thirteen. Intellectual Property, Information Technology, Biomedical Research, and Marketing of Patented Products']
### Abstract:
['Intellectual property rights are viewed as essential to medical innovation, but very often involve social costs due to patent monopolies and other inefficiencies. We review the positive theory of innovation in health care, as it relates to the determination of innovation demand and supply. The positive theory is related to a host of competing normative models of intellectual property, including patent races, cumulative or sequential innovation, and the implications of health insurance. We also discuss how intellectual property can be used to solve a variety of production externalities that afflict health care, including network externalities, underprovision of marketing, and inefficient provision of diagnostic information. Finally, we discuss novel approaches to protecting intellectual property, including rewards, innovation subsidies, and publicly provided health insurance.']
### GND ID:
['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653109']
### GND class:
['Gesundheitsökonomie']
<|eot_id|> |
3A1831653133.jsonld | ['Chapter Ten. Health Care Markets, Regulators, and Certifiers'] | ['Economists have devoted considerable attention to the question of whether market transactions, contracts, and/or regulation can generate efficient outcomes. The chapter presents a discussion on efficient outcomes for health care services markets. The chapter begins with an analysis of whether health care markets are different from textbook markets. Arrow argues that the conditions facilitating an optimal state are often missing in health care. This chapter discusses and examines these conditions and pays particular attention to asymmetric information about quality. The chapter also reviews the empirical evidence on the performance of competitive health care markets. At one time the conventional wisdom was that competition led to higher prices, an idea captured by the theory of the Medical Arms Race. With the growth of selective contracting between providers and payers, competition is now associated with lower prices. The chapter also discusses regulatory approaches to containing prices. Theory suggests that a mixed payment scheme combining a fixed prepayment with partial cost sharing should outperform either pure prepayment or pure cost-based payment. The chapter also includes another quality assurance mechanismthird party certification embodied by health care report cards. Despite widely cited unanticipated and undesirable consequences, report cards for health insurers and providers seem to offer several benefits: they move market share away from the worst sellers, encourage all sellers to improve quality, and facilitate matching between severely ill patients and the best providers. The chapter also explores pay for performance schemes, which combine elements of incentive contracts and quality certification.'] | ['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653133'] | ['Gesundheitsökonomie'] | Document
### Title: ['Chapter Ten. Health Care Markets, Regulators, and Certifiers']
### Abstract:
['Economists have devoted considerable attention to the question of whether market transactions, contracts, and/or regulation can generate efficient outcomes. The chapter presents a discussion on efficient outcomes for health care services markets. The chapter begins with an analysis of whether health care markets are different from textbook markets. Arrow argues that the conditions facilitating an optimal state are often missing in health care. This chapter discusses and examines these conditions and pays particular attention to asymmetric information about quality. The chapter also reviews the empirical evidence on the performance of competitive health care markets. At one time the conventional wisdom was that competition led to higher prices, an idea captured by the theory of the Medical Arms Race. With the growth of selective contracting between providers and payers, competition is now associated with lower prices. The chapter also discusses regulatory approaches to containing prices. Theory suggests that a mixed payment scheme combining a fixed prepayment with partial cost sharing should outperform either pure prepayment or pure cost-based payment. The chapter also includes another quality assurance mechanismthird party certification embodied by health care report cards. Despite widely cited unanticipated and undesirable consequences, report cards for health insurers and providers seem to offer several benefits: they move market share away from the worst sellers, encourage all sellers to improve quality, and facilitate matching between severely ill patients and the best providers. The chapter also explores pay for performance schemes, which combine elements of incentive contracts and quality certification.']
### GND ID:
['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653133']
### GND class:
['Gesundheitsökonomie']
<|eot_id|> |
3A1831653168.jsonld | ['Chapter Seven. Theoretical Issues Relevant to the Economic Evaluation of Health Technologies'] | ['Medical cost-effectiveness analysis (CEA) is perhaps the most widely applied tool to guide policy decisions concerning the use of health care resources. This chapter first reviews the rationale for and common practice of medical cost-effectiveness analysis. It seeks to place CEA within a conventional microeconomic framework. Methodological controversies in CEA are then discussed within this framework. They include: the decision-making perspective of the analysis; incorporating equity concerns; the treatment of joint costs and benefits; and the treatment of time horizon and discounting.'] | ['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653168'] | ['Gesundheitsökonomie'] | Document
### Title: ['Chapter Seven. Theoretical Issues Relevant to the Economic Evaluation of Health Technologies']
### Abstract:
['Medical cost-effectiveness analysis (CEA) is perhaps the most widely applied tool to guide policy decisions concerning the use of health care resources. This chapter first reviews the rationale for and common practice of medical cost-effectiveness analysis. It seeks to place CEA within a conventional microeconomic framework. Methodological controversies in CEA are then discussed within this framework. They include: the decision-making perspective of the analysis; incorporating equity concerns; the treatment of joint costs and benefits; and the treatment of time horizon and discounting.']
### GND ID:
['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653168']
### GND class:
['Gesundheitsökonomie']
<|eot_id|> |
3A1831653176.jsonld | ['Chapter Six. Who Ordered That? The Economics of Treatment Choices in Medical Care'] | ['In the United States, two patients with the same medical condition can receive drastically different treatments. In addition, the same patient can walk into two physicians’ offices and receive equally disparate treatments. This chapter attempts to understand why. It focuses on three areas: the patient, the physician, and the clinical situation. Specifically, the chapter surveys patient or demand-side factors such as price, income, and preferences; physician or supply-side factors such as specialization, financial incentives, and professionalism; and situational factors including behavioral influences and systems-level factors that play a role in clinical decision making. This chapter reviews theory and evidence, borrowing heavily from the clinical literature.'] | ['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653176'] | ['Gesundheitsökonomie'] | Document
### Title: ['Chapter Six. Who Ordered That? The Economics of Treatment Choices in Medical Care']
### Abstract:
['In the United States, two patients with the same medical condition can receive drastically different treatments. In addition, the same patient can walk into two physicians’ offices and receive equally disparate treatments. This chapter attempts to understand why. It focuses on three areas: the patient, the physician, and the clinical situation. Specifically, the chapter surveys patient or demand-side factors such as price, income, and preferences; physician or supply-side factors such as specialization, financial incentives, and professionalism; and situational factors including behavioral influences and systems-level factors that play a role in clinical decision making. This chapter reviews theory and evidence, borrowing heavily from the clinical literature.']
### GND ID:
['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653176']
### GND class:
['Gesundheitsökonomie']
<|eot_id|> |
3A1831653184.jsonld | ['Chapter Five. Demand for Health Insurance'] | ['This chapter reviews topics related to the demand for health insurance, including the question of how choice of health insurance should be structured for consumers. After the first section summarizes some of the institutional features of health insurance in high- and middle-income countries, a second section synthesizes the normative and empirical literature on demand-side cost sharing in health insurance, integrating new developments in multiple goods, consumer errors in valuing health care and “offset effects” with the traditional risk protection-appropriate incentives trade-off. The practice of selective contracting on the supply side is an alternative to demand-side cost sharing. A third section proposes a theory of selective contracting and relates this supply-side policy to the question of optimal demand-side cost sharing. We observe two distinct approaches to structuring choice of health insurance in the US, private employers who severely limit choice, and public payers’ (and individual insurance markets’) market-determined choices. A fourth section reviews the pluses and minuses of these alternatives, and discusses the implications for structuring health insurance markets in the US.'] | ['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653184'] | ['Gesundheitsökonomie'] | Document
### Title: ['Chapter Five. Demand for Health Insurance']
### Abstract:
['This chapter reviews topics related to the demand for health insurance, including the question of how choice of health insurance should be structured for consumers. After the first section summarizes some of the institutional features of health insurance in high- and middle-income countries, a second section synthesizes the normative and empirical literature on demand-side cost sharing in health insurance, integrating new developments in multiple goods, consumer errors in valuing health care and “offset effects” with the traditional risk protection-appropriate incentives trade-off. The practice of selective contracting on the supply side is an alternative to demand-side cost sharing. A third section proposes a theory of selective contracting and relates this supply-side policy to the question of optimal demand-side cost sharing. We observe two distinct approaches to structuring choice of health insurance in the US, private employers who severely limit choice, and public payers’ (and individual insurance markets’) market-determined choices. A fourth section reviews the pluses and minuses of these alternatives, and discusses the implications for structuring health insurance markets in the US.']
### GND ID:
['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653184']
### GND class:
['Gesundheitsökonomie']
<|eot_id|> |
3A1831653192.jsonld | ['Chapter Four. Improving Health in Developing Countries : Evidence from Randomized Evaluations'] | ['We summarize evidence from the growing body of randomized evaluations on health in developing countries from the perspective of the human capital investment model, cost-effectiveness analysis, and behavioral economics. Many cost-effective methods of infectious disease prevention have limited uptake. Contributing factors include externalities from infectious disease prevention, public goods problems, liquidity constraints, and behavioral factors, such as present bias and limited attention. Across a variety of contexts, consumer use of cost-effective products for prevention and non-acute care is highly sensitive to price and convenience. Health education has a mixed record, often working in combination with incentives and functioning through increasing salience rather than delivering information. The quality of health services in many developing countries is very poor, with weak incentives for public sector health workers. Reforms that strengthen incentives show promise but institutional details matter. Programs based on this more nuanced understanding of health decision making can save millions of lives.'] | ['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653192'] | ['Gesundheitsökonomie'] | Document
### Title: ['Chapter Four. Improving Health in Developing Countries : Evidence from Randomized Evaluations']
### Abstract:
['We summarize evidence from the growing body of randomized evaluations on health in developing countries from the perspective of the human capital investment model, cost-effectiveness analysis, and behavioral economics. Many cost-effective methods of infectious disease prevention have limited uptake. Contributing factors include externalities from infectious disease prevention, public goods problems, liquidity constraints, and behavioral factors, such as present bias and limited attention. Across a variety of contexts, consumer use of cost-effective products for prevention and non-acute care is highly sensitive to price and convenience. Health education has a mixed record, often working in combination with incentives and functioning through increasing salience rather than delivering information. The quality of health services in many developing countries is very poor, with weak incentives for public sector health workers. Reforms that strengthen incentives show promise but institutional details matter. Programs based on this more nuanced understanding of health decision making can save millions of lives.']
### GND ID:
['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653192']
### GND class:
['Gesundheitsökonomie']
<|eot_id|> |
3A1831653206.jsonld | ['Chapter Three. The Economics of Risky Health Behaviors'] | ['Risky health behaviors such as smoking, drinking alcohol, drug use, unprotected sex, and poor diets and sedentary lifestyles (leading to obesity) are a major source of preventable deaths. This chapter overviews the theoretical frameworks for, and empirical evidence on, the economics of risky health behaviors. It describes traditional economic approaches emphasizing utility maximization that, under certain assumptions, result in Pareto-optimal outcomes and a limited role for policy interventions. It also details non-traditional models (e.g. involving hyperbolic time discounting or bounded rationality) that even without market imperfections can result in suboptimal outcomes for which government intervention has greater potential to increase social welfare. The chapter summarizes the literature on the consequences of risky health behaviors for economic outcomes such as medical care costs, educational attainment, employment, wages, and crime. It also reviews the research on policies and strategies with the potential to modify risky health behaviors, such as taxes or subsidies, cash incentives, restrictions on purchase and use, providing information, and restricting advertising. The chapter concludes with suggestions for future research.'] | ['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653206'] | ['Gesundheitsökonomie'] | Document
### Title: ['Chapter Three. The Economics of Risky Health Behaviors']
### Abstract:
['Risky health behaviors such as smoking, drinking alcohol, drug use, unprotected sex, and poor diets and sedentary lifestyles (leading to obesity) are a major source of preventable deaths. This chapter overviews the theoretical frameworks for, and empirical evidence on, the economics of risky health behaviors. It describes traditional economic approaches emphasizing utility maximization that, under certain assumptions, result in Pareto-optimal outcomes and a limited role for policy interventions. It also details non-traditional models (e.g. involving hyperbolic time discounting or bounded rationality) that even without market imperfections can result in suboptimal outcomes for which government intervention has greater potential to increase social welfare. The chapter summarizes the literature on the consequences of risky health behaviors for economic outcomes such as medical care costs, educational attainment, employment, wages, and crime. It also reviews the research on policies and strategies with the potential to modify risky health behaviors, such as taxes or subsidies, cash incentives, restrictions on purchase and use, providing information, and restricting advertising. The chapter concludes with suggestions for future research.']
### GND ID:
['gnd:4130935-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653206']
### GND class:
['Gesundheitsökonomie']
<|eot_id|> |
3A1831653257.jsonld | ['Chapter 7. The Chinese Growth Miracle'] | ['This chapter provides a review of China’s economic growth since 1978. Studying China’s economic success may shed new light on the political economy of growth, the impacts of the ascent of large countries on the rest of the world, and the relationship between inequality and economic growth. The chapter starts with a review of the characteristics of China’s economic growth and compares it with those of several similar economies. Then it shows how China’s economic success has been created by innovative institutional arrangements as well as adherence to the policy advice prescribed by neoclassical economics. After that, the chapter describes China’s export-led growth model and analyzes its causes and the structural imbalances associated with it. Lastly, the chapter presents data for income inequality in China and discusses how inequality may affect China’s prospect of avoiding the middle-income trap.'] | ['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653257'] | ['Wachstumstheorie'] | Document
### Title: ['Chapter 7. The Chinese Growth Miracle']
### Abstract:
['This chapter provides a review of China’s economic growth since 1978. Studying China’s economic success may shed new light on the political economy of growth, the impacts of the ascent of large countries on the rest of the world, and the relationship between inequality and economic growth. The chapter starts with a review of the characteristics of China’s economic growth and compares it with those of several similar economies. Then it shows how China’s economic success has been created by innovative institutional arrangements as well as adherence to the policy advice prescribed by neoclassical economics. After that, the chapter describes China’s export-led growth model and analyzes its causes and the structural imbalances associated with it. Lastly, the chapter presents data for income inequality in China and discusses how inequality may affect China’s prospect of avoiding the middle-income trap.']
### GND ID:
['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653257']
### GND class:
['Wachstumstheorie']
<|eot_id|> |
3A1831653265.jsonld | ['Chapter 6. Growth and Structural Transformation'] | ['Structural transformation refers to the reallocation of economic activity across the broad sectors agriculture, manufacturing, and services. This review article synthesizes and evaluates recent advances in the research on structural transformation. We begin by presenting the stylized facts of structural transformation across time and space. We then develop a multi-sector extension of the one-sector growth model that encompasses the main existing theories of structural transformation. We argue that this multi-sector model serves as a natural benchmark to study structural transformation and that it is able to account for many salient features of structural transformation. We also argue that this multi-sector model delivers new and sharper insights for understanding economic development, regional income convergence, aggregate productivity trends, hours worked, business cycles, wage inequality, and greenhouse gas emissions. We conclude by suggesting several directions for future research on structural transformation.'] | ['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653265'] | ['Wachstumstheorie'] | Document
### Title: ['Chapter 6. Growth and Structural Transformation']
### Abstract:
['Structural transformation refers to the reallocation of economic activity across the broad sectors agriculture, manufacturing, and services. This review article synthesizes and evaluates recent advances in the research on structural transformation. We begin by presenting the stylized facts of structural transformation across time and space. We then develop a multi-sector extension of the one-sector growth model that encompasses the main existing theories of structural transformation. We argue that this multi-sector model serves as a natural benchmark to study structural transformation and that it is able to account for many salient features of structural transformation. We also argue that this multi-sector model delivers new and sharper insights for understanding economic development, regional income convergence, aggregate productivity trends, hours worked, business cycles, wage inequality, and greenhouse gas emissions. We conclude by suggesting several directions for future research on structural transformation.']
### GND ID:
['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653265']
### GND class:
['Wachstumstheorie']
<|eot_id|> |
3A1831653273.jsonld | ['Chapter 5. The Growth of Cities'] | ['Why do cities grow in population, surface area, and income per person? Which cities grow faster and why? To these questions, the urban growth literature has offered a variety of answers. Within an integrated framework, this chapter reviews key theories with implications for urban growth. It then relates these theories to empirical evidence on the main drivers of city growth, drawn primarily from the United States and other developed countries. Consistent with the monocentric city model, fewer roads and restrictions on housing supply hinder urban growth. The fact that housing is durable also has important effects on the evolution of cities. In recent decades, cities with better amenities have grown faster. Agglomeration economies and human capital are also important drivers of city growth. Although more human capital, smaller firms, and a greater diversity in production foster urban growth, the exact channels through which those effects percolate are not clearly identified. Finally, shocks also determine the fate of cities. Structural changes affecting the broader economy have left a big footprint on the urban landscape. Small city-specific shocks also appear to matter, consistent with the recent wave of random growth models.'] | ['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653273'] | ['Wachstumstheorie'] | Document
### Title: ['Chapter 5. The Growth of Cities']
### Abstract:
['Why do cities grow in population, surface area, and income per person? Which cities grow faster and why? To these questions, the urban growth literature has offered a variety of answers. Within an integrated framework, this chapter reviews key theories with implications for urban growth. It then relates these theories to empirical evidence on the main drivers of city growth, drawn primarily from the United States and other developed countries. Consistent with the monocentric city model, fewer roads and restrictions on housing supply hinder urban growth. The fact that housing is durable also has important effects on the evolution of cities. In recent decades, cities with better amenities have grown faster. Agglomeration economies and human capital are also important drivers of city growth. Although more human capital, smaller firms, and a greater diversity in production foster urban growth, the exact channels through which those effects percolate are not clearly identified. Finally, shocks also determine the fate of cities. Structural changes affecting the broader economy have left a big footprint on the urban landscape. Small city-specific shocks also appear to matter, consistent with the recent wave of random growth models.']
### GND ID:
['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653273']
### GND class:
['Wachstumstheorie']
<|eot_id|> |
3A1831653303.jsonld | ['Chapter 2. Technology Diffusion: Measurement, Causes, and Consequences'] | ['This chapter discusses different approaches pursued to explore three broad questions related to technology diffusion: what general patterns characterize the diffusion of technologies, and how have they changed over time?; what are the key drivers of technology?; and what are the macroeconomic consequences of technology? We prioritize in our discussion unified approaches to these three questions that are based on direct measures of technology.'] | ['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653303'] | ['Wachstumstheorie'] | Document
### Title: ['Chapter 2. Technology Diffusion: Measurement, Causes, and Consequences']
### Abstract:
['This chapter discusses different approaches pursued to explore three broad questions related to technology diffusion: what general patterns characterize the diffusion of technologies, and how have they changed over time?; what are the key drivers of technology?; and what are the macroeconomic consequences of technology? We prioritize in our discussion unified approaches to these three questions that are based on direct measures of technology.']
### GND ID:
['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653303']
### GND class:
['Wachstumstheorie']
<|eot_id|> |
3A1831653389.jsonld | ['Chapter 8. Institutions and Economic Growth in Historical Perspective'] | ['This chapter surveys the historical evidence on the role of institutions in economic growth and points out weaknesses in a number of stylized facts widely accepted in the growth literature. It shows that private-order institutions have not historically substituted for public-order ones in enabling markets to function; that parliaments representing wealth holders have not invariably been favorable for growth; and that the Glorious Revolution of 1688 in England did not mark the sudden emergence of either secure property rights or economic growth. Economic history has been used to support both the centrality and the irrelevance of secure property rights to growth, but the reason for this is conceptual vagueness. Secure property rights require much more careful analysis, distinguishing between rights of ownership, use, and transfer, and between generalized and particularized variants. Similar careful analysis would, we argue, clarify the growth effects of other institutions, including contract-enforcement mechanisms, guilds, communities, serfdom, and the family. Greater precision concerning institutional effects on growth can be achieved by developing sharper criteria of application for conventional institutional labels, endowing institutions with a scale of intensity or degree, and recognizing that the effects of each institution depend on its relationship with other components of the wider institutional system.'] | ['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653389'] | ['Wachstumstheorie'] | Document
### Title: ['Chapter 8. Institutions and Economic Growth in Historical Perspective']
### Abstract:
['This chapter surveys the historical evidence on the role of institutions in economic growth and points out weaknesses in a number of stylized facts widely accepted in the growth literature. It shows that private-order institutions have not historically substituted for public-order ones in enabling markets to function; that parliaments representing wealth holders have not invariably been favorable for growth; and that the Glorious Revolution of 1688 in England did not mark the sudden emergence of either secure property rights or economic growth. Economic history has been used to support both the centrality and the irrelevance of secure property rights to growth, but the reason for this is conceptual vagueness. Secure property rights require much more careful analysis, distinguishing between rights of ownership, use, and transfer, and between generalized and particularized variants. Similar careful analysis would, we argue, clarify the growth effects of other institutions, including contract-enforcement mechanisms, guilds, communities, serfdom, and the family. Greater precision concerning institutional effects on growth can be achieved by developing sharper criteria of application for conventional institutional labels, endowing institutions with a scale of intensity or degree, and recognizing that the effects of each institution depend on its relationship with other components of the wider institutional system.']
### GND ID:
['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653389']
### GND class:
['Wachstumstheorie']
<|eot_id|> |
3A1831653400.jsonld | ['Chapter 6. Twentieth Century Growth'] | ['This paper surveys the experience of economic growth in the 20th century with a focus on technological change at the frontier together with issues related to success and failure in catch-up growth. A detailed account of growth performance based on historical national accounts data is given and is accompanied by a review of growth accounting evidence on the sources of economic growth. The key features of our analysis of divergence in growth outcomes are an emphasis on the importance of “directed” technical change, of institutional quality, and of geography. We provide brief case studies of the experience of individual countries to illustrate these points.'] | ['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653400'] | ['Wachstumstheorie'] | Document
### Title: ['Chapter 6. Twentieth Century Growth']
### Abstract:
['This paper surveys the experience of economic growth in the 20th century with a focus on technological change at the frontier together with issues related to success and failure in catch-up growth. A detailed account of growth performance based on historical national accounts data is given and is accompanied by a review of growth accounting evidence on the sources of economic growth. The key features of our analysis of divergence in growth outcomes are an emphasis on the importance of “directed” technical change, of institutional quality, and of geography. We provide brief case studies of the experience of individual countries to illustrate these points.']
### GND ID:
['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653400']
### GND class:
['Wachstumstheorie']
<|eot_id|> |
3A1831653419.jsonld | ['Chapter 5. The Industrial Revolution'] | ['The Industrial Revolution decisively changed economywide productivity growth rates. For successful economies, measured efficiency growth rates increased from close to zero to close to 1% per year in the blink of an eye, in terms of the long history of humanity, seemingly within 50 years of 1800 in England. Yet the Industrial Revolution has defied simple economic explanations or modeling. This paper seeks to set out the empirical parameters of the Industrial Revolution that any economic theory must encompass, and illustrate why this makes explaining the Industrial Revolution so difficult within the context of standard economic models and narratives.'] | ['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653419'] | ['Wachstumstheorie'] | Document
### Title: ['Chapter 5. The Industrial Revolution']
### Abstract:
['The Industrial Revolution decisively changed economywide productivity growth rates. For successful economies, measured efficiency growth rates increased from close to zero to close to 1% per year in the blink of an eye, in terms of the long history of humanity, seemingly within 50 years of 1800 in England. Yet the Industrial Revolution has defied simple economic explanations or modeling. This paper seeks to set out the empirical parameters of the Industrial Revolution that any economic theory must encompass, and illustrate why this makes explaining the Industrial Revolution so difficult within the context of standard economic models and narratives.']
### GND ID:
['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653419']
### GND class:
['Wachstumstheorie']
<|eot_id|> |
3A1831653427.jsonld | ['Chapter 4. Family Ties'] | ['We study the role of the most primitive institution in society: the family. Its organization and relationship between generations shape values formation, economic outcomes, and influences national institutions. We use a measure of family ties, constructed from the World Values Survey, to review and extend the literature on the effect of family ties on economic behavior and economic attitudes. We show that strong family ties are negatively correlated with generalized trust; they imply more household production and less participation in the labor market of women, young adult, and elderly. They are correlated with lower interest and participation in political activities and prefer labor market regulation and welfare systems based upon the family rather than the market or the government. Strong family ties may interfere with activities leading to faster growth, but they may provide relief from stress, support to family members, and increased well-being. We argue that the values regarding the strength of family relationships are very persistent over time, more so than institutions like labor market regulation or welfare systems.'] | ['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653427'] | ['Wachstumstheorie'] | Document
### Title: ['Chapter 4. Family Ties']
### Abstract:
['We study the role of the most primitive institution in society: the family. Its organization and relationship between generations shape values formation, economic outcomes, and influences national institutions. We use a measure of family ties, constructed from the World Values Survey, to review and extend the literature on the effect of family ties on economic behavior and economic attitudes. We show that strong family ties are negatively correlated with generalized trust; they imply more household production and less participation in the labor market of women, young adult, and elderly. They are correlated with lower interest and participation in political activities and prefer labor market regulation and welfare systems based upon the family rather than the market or the government. Strong family ties may interfere with activities leading to faster growth, but they may provide relief from stress, support to family members, and increased well-being. We argue that the values regarding the strength of family relationships are very persistent over time, more so than institutions like labor market regulation or welfare systems.']
### GND ID:
['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653427']
### GND class:
['Wachstumstheorie']
<|eot_id|> |
3A1831653435.jsonld | ['Chapter 3. Long-Term Barriers to Economic Development'] | ['What obstacles prevent the most productive technologies from spreading to less developed economies from the world’s technological frontier? In this paper, we seek to shed light on this question by quantifying the geographic and human barriers to the transmission of technologies. We argue that the intergenerational transmission of human traits, particularly culturally transmitted traits, has led to divergence between populations over the course of history. In turn, this divergence has introduced barriers to the diffusion of technologies across societies. We provide measures of historical and genealogical distances between populations, and document how such distances, relative to the world’s technological frontier, act as barriers to the diffusion of development and of specific innovations. We provide an interpretation of these results in the context of an emerging literature seeking to understand variation in economic development as the result of factors rooted deep in history.'] | ['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653435'] | ['Wachstumstheorie'] | Document
### Title: ['Chapter 3. Long-Term Barriers to Economic Development']
### Abstract:
['What obstacles prevent the most productive technologies from spreading to less developed economies from the world’s technological frontier? In this paper, we seek to shed light on this question by quantifying the geographic and human barriers to the transmission of technologies. We argue that the intergenerational transmission of human traits, particularly culturally transmitted traits, has led to divergence between populations over the course of history. In turn, this divergence has introduced barriers to the diffusion of technologies across societies. We provide measures of historical and genealogical distances between populations, and document how such distances, relative to the world’s technological frontier, act as barriers to the diffusion of development and of specific innovations. We provide an interpretation of these results in the context of an emerging literature seeking to understand variation in economic development as the result of factors rooted deep in history.']
### GND ID:
['gnd:4128160-3', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653435']
### GND class:
['Wachstumstheorie']
<|eot_id|> |
3A1831653524.jsonld | ['Chapter 25. Monetary Policy in Emerging Markets'] | ['The characteristics that distinguish most developing countries, compared to large industrialized countries, include: greater exposure to supply shocks in general and trade volatility in particular, procyclicality of both domestic fiscal policy and international finance, lower credibility with respect to both price stability and default risk, and other imperfect institutions. These characteristics warrant appropriate models. Models of dynamic inconsistency in monetary policy and the need for central bank independence and commitment to nominal targets apply even more strongly to developing countries. But because most developing countries are price-takers on world markets, the small open economy model, with nontraded goods, is often more useful than the two-country two-good model. Contractionary effects of devaluation are also far more important for developing countries, particularly the balance sheet effects that arise from currency mismatch. The exchange rate was the favored nominal anchor for monetary policy in inflation stabilizations of the late 1980s and early 1990s. After the currency crises of 1994–2001, the conventional wisdom anointed inflation targeting as the preferred monetary regime in place of exchange rate targets. But events associated with the global crisis of 2007–2009 have revealed limitations to the choice of CPI for the role of price index. The participation of emerging markets in global finance is a major reason why they have by now earned their own large body of research, but it also means that they remain highly prone to problems of asymmetric information, illiquidity, default risk, moral hazard and imperfect institutions. Many of the models designed to fit emerging market countries were built around such financial market imperfections, and few economists thought this inappropriate. With the global crisis of 2007–2009, the tables have turned: economists should now consider drawing on the models of emerging market crises to try to understand the unexpected imperfections and failures of advanced-country financial markets.'] | ['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653524'] | ['Geldpolitik', 'Geldtheorie'] | Document
### Title: ['Chapter 25. Monetary Policy in Emerging Markets']
### Abstract:
['The characteristics that distinguish most developing countries, compared to large industrialized countries, include: greater exposure to supply shocks in general and trade volatility in particular, procyclicality of both domestic fiscal policy and international finance, lower credibility with respect to both price stability and default risk, and other imperfect institutions. These characteristics warrant appropriate models. Models of dynamic inconsistency in monetary policy and the need for central bank independence and commitment to nominal targets apply even more strongly to developing countries. But because most developing countries are price-takers on world markets, the small open economy model, with nontraded goods, is often more useful than the two-country two-good model. Contractionary effects of devaluation are also far more important for developing countries, particularly the balance sheet effects that arise from currency mismatch. The exchange rate was the favored nominal anchor for monetary policy in inflation stabilizations of the late 1980s and early 1990s. After the currency crises of 1994–2001, the conventional wisdom anointed inflation targeting as the preferred monetary regime in place of exchange rate targets. But events associated with the global crisis of 2007–2009 have revealed limitations to the choice of CPI for the role of price index. The participation of emerging markets in global finance is a major reason why they have by now earned their own large body of research, but it also means that they remain highly prone to problems of asymmetric information, illiquidity, default risk, moral hazard and imperfect institutions. Many of the models designed to fit emerging market countries were built around such financial market imperfections, and few economists thought this inappropriate. With the global crisis of 2007–2009, the tables have turned: economists should now consider drawing on the models of emerging market crises to try to understand the unexpected imperfections and failures of advanced-country financial markets.']
### GND ID:
['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653524']
### GND class:
['Geldpolitik', 'Geldtheorie']
<|eot_id|> |
3A1831653540.jsonld | ['Chapter 23. The Performance of Alternative Monetary Regimes'] | ["This paper compares the performance of economies with different monetary regimes during the last quarter century. The conclusions include: (1) There is little evidence that inflation targeting affects performance in advanced economies, but some evidence of benefits in emerging economies; (2) Europe's monetary union has increased intra-European trade and capital flows, but divergence in national price levels may destabilize output in the future; (3) The monetary analysis of the European Central Bank has little effect on the ECB's policy decisions; and (4) Countries with hard currency pegs experience unusually severe recessions when capital flight occurs."] | ['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653540'] | ['Geldpolitik', 'Geldtheorie'] | Document
### Title: ['Chapter 23. The Performance of Alternative Monetary Regimes']
### Abstract:
["This paper compares the performance of economies with different monetary regimes during the last quarter century. The conclusions include: (1) There is little evidence that inflation targeting affects performance in advanced economies, but some evidence of benefits in emerging economies; (2) Europe's monetary union has increased intra-European trade and capital flows, but divergence in national price levels may destabilize output in the future; (3) The monetary analysis of the European Central Bank has little effect on the ECB's policy decisions; and (4) Countries with hard currency pegs experience unusually severe recessions when capital flight occurs."]
### GND ID:
['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653540']
### GND class:
['Geldpolitik', 'Geldtheorie']
<|eot_id|> |
3A1831653559.jsonld | ['Chapter 22. Inflation Targeting'] | ['Inflation targeting is a monetary-policy strategy characterized by an announced numerical inflation target, an implementation of monetary policy that gives a major role to an inflation forecast that has been called forecast targeting, and a high degree of transparency and accountability. It was introduced in New Zealand in 1990, has been very successful in terms of stabilizing both inflation and the real economy, and as of 2010 has been adopted by about 25 industrialized and emerging-market economies. This chapter discusses the history, macroeconomic effects, theory, practice, and future of inflation targeting.'] | ['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653559'] | ['Geldpolitik', 'Geldtheorie'] | Document
### Title: ['Chapter 22. Inflation Targeting']
### Abstract:
['Inflation targeting is a monetary-policy strategy characterized by an announced numerical inflation target, an implementation of monetary policy that gives a major role to an inflation forecast that has been called forecast targeting, and a high degree of transparency and accountability. It was introduced in New Zealand in 1990, has been very successful in terms of stabilizing both inflation and the real economy, and as of 2010 has been adopted by about 25 industrialized and emerging-market economies. This chapter discusses the history, macroeconomic effects, theory, practice, and future of inflation targeting.']
### GND ID:
['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653559']
### GND class:
['Geldpolitik', 'Geldtheorie']
<|eot_id|> |
3A1831653575.jsonld | ['Chapter 20. Wanting Robustness in Macroeconomics'] | ['Robust control theory is a tool for assessing decision rules when a decision maker distrusts either the specification of transition laws or the distribution of hidden state variables or both. Specification doubts inspire the decision maker to want a decision rule to work well for a ∅ of models surrounding his approximating stochastic model. We relate robust control theory to the so-called multiplier and constraint preferences that have been used to express ambiguity aversion. Detection error probabilities can be used to discipline empirically plausible amounts of robustness. We describe applications to asset pricing uncertainty premia and design of robust macroeconomic policies.'] | ['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653575'] | ['Geldpolitik', 'Geldtheorie'] | Document
### Title: ['Chapter 20. Wanting Robustness in Macroeconomics']
### Abstract:
['Robust control theory is a tool for assessing decision rules when a decision maker distrusts either the specification of transition laws or the distribution of hidden state variables or both. Specification doubts inspire the decision maker to want a decision rule to work well for a ∅ of models surrounding his approximating stochastic model. We relate robust control theory to the so-called multiplier and constraint preferences that have been used to express ambiguity aversion. Detection error probabilities can be used to discipline empirically plausible amounts of robustness. We describe applications to asset pricing uncertainty premia and design of robust macroeconomic policies.']
### GND ID:
['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653575']
### GND class:
['Geldpolitik', 'Geldtheorie']
<|eot_id|> |
3A1831653583.jsonld | ['Chapter 19. Inflation Expectations, Adaptive Learning and Optimal Monetary Policy'] | ["This chapter investigates the implications of adaptive learning in the private sector's formation of inflation expectations for the conduct of monetary policy. We first review the literature that studies the implications of adaptive learning processes for macroeconomic dynamics under various monetary policy rules. We then analyze optimal monetary policy in the standard New Keynesian model, when the central bank minimizes an explicit loss function and has full information about the structure of the economy, including the precise mechanism generating private sector's expectations. The focus on optimal policy allows us to investigate how and to what extent a change in the assumption of how agents form their inflation expectations affects the principles of optimal monetary policy. It also provides a benchmark to evaluate simple policy rules. We find that departures from rational expectations increase the potential for instability in the economy, strengthening the importance of anchoring inflation expectations. We also find that the simple commitment rule under rational expectations is robust when expectations are formed in line with adaptive learning."] | ['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653583'] | ['Geldpolitik', 'Geldtheorie'] | Document
### Title: ['Chapter 19. Inflation Expectations, Adaptive Learning and Optimal Monetary Policy']
### Abstract:
["This chapter investigates the implications of adaptive learning in the private sector's formation of inflation expectations for the conduct of monetary policy. We first review the literature that studies the implications of adaptive learning processes for macroeconomic dynamics under various monetary policy rules. We then analyze optimal monetary policy in the standard New Keynesian model, when the central bank minimizes an explicit loss function and has full information about the structure of the economy, including the precise mechanism generating private sector's expectations. The focus on optimal policy allows us to investigate how and to what extent a change in the assumption of how agents form their inflation expectations affects the principles of optimal monetary policy. It also provides a benchmark to evaluate simple policy rules. We find that departures from rational expectations increase the potential for instability in the economy, strengthening the importance of anchoring inflation expectations. We also find that the simple commitment rule under rational expectations is robust when expectations are formed in line with adaptive learning."]
### GND ID:
['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653583']
### GND class:
['Geldpolitik', 'Geldtheorie']
<|eot_id|> |
3A1831653591.jsonld | ['Chapter 18. The Politics of Monetary Policy'] | ['In this paper we critically review the literature on the political economy of monetary policy, with an eye on the questions raised by the recent financial crisis. We begin with a discussion of rules versus discretion. We then examine the issue of the central bank’s independence (CBI) both in normal times and in times of crisis. Then we review the literature of electoral manipulation of policies. Finally we address international institutional issues concerning the feasibility, optimality, and political sustainability of currency unions in which more than one country shares the same currency. A brief review of the Euro experience concludes the paper.'] | ['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653591'] | ['Geldpolitik', 'Geldtheorie'] | Document
### Title: ['Chapter 18. The Politics of Monetary Policy']
### Abstract:
['In this paper we critically review the literature on the political economy of monetary policy, with an eye on the questions raised by the recent financial crisis. We begin with a discussion of rules versus discretion. We then examine the issue of the central bank’s independence (CBI) both in normal times and in times of crisis. Then we review the literature of electoral manipulation of policies. Finally we address international institutional issues concerning the feasibility, optimality, and political sustainability of currency unions in which more than one country shares the same currency. A brief review of the Euro experience concludes the paper.']
### GND ID:
['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653591']
### GND class:
['Geldpolitik', 'Geldtheorie']
<|eot_id|> |
3A1831653613.jsonld | ['Chapter 16. Optimal Monetary Policy in Open Economies'] | ['This chapter studies optimal monetary stabilization policy in interdependent open economies, by proposing a unified analytical framework systematizing the existing literature. In the model, the combination of complete exchange-rate pass-through (producer currency pricing) and frictionless asset markets ensuring efficient risk sharing, results in a form of openeconomy divine coincidence: in line with the prescriptions in the baseline New-Keynesian setting, the optimal monetary policy under cooperation is characterized by exclusively inward-looking targeting rules in domestic output gaps and GDP-deflator inflation. The chapter then examines deviations from this benchmark, when cross-country strategic policy interactions, incomplete exchange-rate pass-through (local currency pricing) and asset market imperfections are accounted for. Namely, failure to internalize international monetary spillovers results in attempts to manipulate international relative prices to raise national welfare, causing inefficient real exchange rate fluctuations. Local currency pricing and incomplete asset markets (preventing efficient risk sharing) shift the focus of monetary stabilization to redressing domestic as well as external distortions: the targeting rules characterizing the optimal policy are not only in domestic output gaps and inflation, but also in misalignments in the terms of trade and real exchange rates, and cross-country demand imbalances.'] | ['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653613'] | ['Geldpolitik', 'Geldtheorie'] | Document
### Title: ['Chapter 16. Optimal Monetary Policy in Open Economies']
### Abstract:
['This chapter studies optimal monetary stabilization policy in interdependent open economies, by proposing a unified analytical framework systematizing the existing literature. In the model, the combination of complete exchange-rate pass-through (producer currency pricing) and frictionless asset markets ensuring efficient risk sharing, results in a form of openeconomy divine coincidence: in line with the prescriptions in the baseline New-Keynesian setting, the optimal monetary policy under cooperation is characterized by exclusively inward-looking targeting rules in domestic output gaps and GDP-deflator inflation. The chapter then examines deviations from this benchmark, when cross-country strategic policy interactions, incomplete exchange-rate pass-through (local currency pricing) and asset market imperfections are accounted for. Namely, failure to internalize international monetary spillovers results in attempts to manipulate international relative prices to raise national welfare, causing inefficient real exchange rate fluctuations. Local currency pricing and incomplete asset markets (preventing efficient risk sharing) shift the focus of monetary stabilization to redressing domestic as well as external distortions: the targeting rules characterizing the optimal policy are not only in domestic output gaps and inflation, but also in misalignments in the terms of trade and real exchange rates, and cross-country demand imbalances.']
### GND ID:
['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653613']
### GND class:
['Geldpolitik', 'Geldtheorie']
<|eot_id|> |
3A183165363X.jsonld | ['Chapter 14. Optimal Monetary Stabilization Policy'] | ["This chapter reviews the theory of optimal monetary stabilization policy in New Keynesian models, with particular emphasis on developments since the treatment of this topic in Woodford (2003). The primary emphasis of the chapter is on methods of analysis that are useful in this area, rather than on final conclusions about the ideal conduct of policy (that are obviously model-dependent, and hence dependent on the stand that one might take on many issues that remain controversial), and on general themes that have been found to be important under a range of possible model specifications. 1 1 Practical lessons of the modern literature on monetary stabilization policy are developed in more detail in Chapter 15 by Taylor and Williams (2010) and Chapter 22 by Svensson (2010) in this Handbook . With regard to methodology, some of the central themes of this review will be the application of the method of Ramsey policy analysis to the problem of the optimal conduct of monetary policy, and the connection that can be established between utility maximization and linear-quadratic policy problems of the sort often considered in the central banking literature. With regard to the structure of a desirable decision framework for monetary policy deliberations, some of the central themes will be the importance of commitment for a superior stabilization outcome, and more generally, the importance of advance signals about the future conduct of policy, the advantages of history-dependent policies over purely forward-looking approaches, and the usefulness of a target criterion as a way of characterizing a central bank's policy commitment."] | ['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165363X'] | ['Geldpolitik', 'Geldtheorie'] | Document
### Title: ['Chapter 14. Optimal Monetary Stabilization Policy']
### Abstract:
["This chapter reviews the theory of optimal monetary stabilization policy in New Keynesian models, with particular emphasis on developments since the treatment of this topic in Woodford (2003). The primary emphasis of the chapter is on methods of analysis that are useful in this area, rather than on final conclusions about the ideal conduct of policy (that are obviously model-dependent, and hence dependent on the stand that one might take on many issues that remain controversial), and on general themes that have been found to be important under a range of possible model specifications. 1 1 Practical lessons of the modern literature on monetary stabilization policy are developed in more detail in Chapter 15 by Taylor and Williams (2010) and Chapter 22 by Svensson (2010) in this Handbook . With regard to methodology, some of the central themes of this review will be the application of the method of Ramsey policy analysis to the problem of the optimal conduct of monetary policy, and the connection that can be established between utility maximization and linear-quadratic policy problems of the sort often considered in the central banking literature. With regard to the structure of a desirable decision framework for monetary policy deliberations, some of the central themes will be the importance of commitment for a superior stabilization outcome, and more generally, the importance of advance signals about the future conduct of policy, the advantages of history-dependent policies over purely forward-looking approaches, and the usefulness of a target criterion as a way of characterizing a central bank's policy commitment."]
### GND ID:
['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A183165363X']
### GND class:
['Geldpolitik', 'Geldtheorie']
<|eot_id|> |
3A1831653648.jsonld | ['Chapter 13. The Optimal Rate of Inflation'] | ['Observed inflation targets around the industrial world are concentrated at two percent per year. This chapter investigates the extent to which the observed magnitudes of inflation targets are consistent with the optimal rate of inflation predicted by leading theories of monetary non-neutrality. We find that consistently those theories imply that the optimal rate of inflation ranges from minus the real rate of interest to numbers insignificantly above zero. Furthermore, we argue that the zero bound on nominal interest rates does not represent an impediment for setting inflation targets near or below zero. Finally, we find that central banks should adjust their inflation targets upward by the size of the quality bias in measured inflation only if hedonic prices are more sticky than nonquality-adjusted prices.'] | ['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653648'] | ['Geldpolitik', 'Geldtheorie'] | Document
### Title: ['Chapter 13. The Optimal Rate of Inflation']
### Abstract:
['Observed inflation targets around the industrial world are concentrated at two percent per year. This chapter investigates the extent to which the observed magnitudes of inflation targets are consistent with the optimal rate of inflation predicted by leading theories of monetary non-neutrality. We find that consistently those theories imply that the optimal rate of inflation ranges from minus the real rate of interest to numbers insignificantly above zero. Furthermore, we argue that the zero bound on nominal interest rates does not represent an impediment for setting inflation targets near or below zero. Finally, we find that central banks should adjust their inflation targets upward by the size of the quality bias in measured inflation only if hedonic prices are more sticky than nonquality-adjusted prices.']
### GND ID:
['gnd:4019902-2', 'gnd:4121333-6', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653648']
### GND class:
['Geldpolitik', 'Geldtheorie']
<|eot_id|> |
3A1831653656.jsonld | ['Series Editors'] | ['The series Handbooks in Economics produces handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. Each book provides self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists on various aspects of this branch of economics. These surveys summarize not only received results but also newer developments, from recent journal articles and discussion papers. Some original material is also included, but the main goal is to provide comprehensive and accessible surveys.'] | ['gnd:4006664-2', 'gnd:4036229-2', 'gnd:4112628-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653656'] | ['Bildungsökonomie', 'Lohn', 'Ausbildung'] | Document
### Title: ['Series Editors']
### Abstract:
['The series Handbooks in Economics produces handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students. Each book provides self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists on various aspects of this branch of economics. These surveys summarize not only received results but also newer developments, from recent journal articles and discussion papers. Some original material is also included, but the main goal is to provide comprehensive and accessible surveys.']
### GND ID:
['gnd:4006664-2', 'gnd:4036229-2', 'gnd:4112628-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653656']
### GND class:
['Bildungsökonomie', 'Lohn', 'Ausbildung']
<|eot_id|> |
3A1831653672.jsonld | ['Index'] | ['This chapter lists the terms that have contributed to the book Handbook of the Economics of Education Volume 4 , such as abecedarian program, aggregate incidence, arbitrariness, and others. These terms have been mentioned along with the page numbers in which they have appeared in the bookfor the ease of the reader.'] | ['gnd:4006664-2', 'gnd:4036229-2', 'gnd:4112628-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653672'] | ['Bildungsökonomie', 'Lohn', 'Ausbildung'] | Document
### Title: ['Index']
### Abstract:
['This chapter lists the terms that have contributed to the book Handbook of the Economics of Education Volume 4 , such as abecedarian program, aggregate incidence, arbitrariness, and others. These terms have been mentioned along with the page numbers in which they have appeared in the bookfor the ease of the reader.']
### GND ID:
['gnd:4006664-2', 'gnd:4036229-2', 'gnd:4112628-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653672']
### GND class:
['Bildungsökonomie', 'Lohn', 'Ausbildung']
<|eot_id|> |
3A1831653680.jsonld | ['Reflections on the Economics of Education'] | ['Modern research on the economics of education began in the 1950s with research by T. W. Schultz, Jacob Mincer, Sherwin Rosen and some others, although there are earlier precedents, including analyses by Adam Smith, Alfred Marshall, and Milton Friedman. This new literature treats education as an investment that has both costs and returns. The returns analyzed are principally the increase in earnings because of greater amounts of schooling. The costs included tuition, fees, and other direct expenses from schooling, and the earnings foregone by being in school rather than at work. Higher education has boomed throughout the world during the past three decades in many poorer and in all rich nations. An important part of the explanation for this development is that new technologies, such as computers and the Internet, increased the demand for persons with college education, because college graduates more easily utilize and adapt to these technologies. Other important developments explaining the greater incentives to get a higher education are the shift to high-skilled services, such as the education and health sectors, and away from manufacturing and increased globalization that helped spread the demand for these new technologies throughout the world.'] | ['gnd:4006664-2', 'gnd:4036229-2', 'gnd:4112628-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653680'] | ['Bildungsökonomie', 'Lohn', 'Ausbildung'] | Document
### Title: ['Reflections on the Economics of Education']
### Abstract:
['Modern research on the economics of education began in the 1950s with research by T. W. Schultz, Jacob Mincer, Sherwin Rosen and some others, although there are earlier precedents, including analyses by Adam Smith, Alfred Marshall, and Milton Friedman. This new literature treats education as an investment that has both costs and returns. The returns analyzed are principally the increase in earnings because of greater amounts of schooling. The costs included tuition, fees, and other direct expenses from schooling, and the earnings foregone by being in school rather than at work. Higher education has boomed throughout the world during the past three decades in many poorer and in all rich nations. An important part of the explanation for this development is that new technologies, such as computers and the Internet, increased the demand for persons with college education, because college graduates more easily utilize and adapt to these technologies. Other important developments explaining the greater incentives to get a higher education are the shift to high-skilled services, such as the education and health sectors, and away from manufacturing and increased globalization that helped spread the demand for these new technologies throughout the world.']
### GND ID:
['gnd:4006664-2', 'gnd:4036229-2', 'gnd:4112628-2', 'https://www.tib.eu/de/suchen/id/TIBKAT%3A1831653680']
### GND class:
['Bildungsökonomie', 'Lohn', 'Ausbildung']
<|eot_id|> |
Subsets and Splits