What major insights have emerged from development economics in the past decade, and how do they matter for the World Bank? This challenging question was recently posed by World Bank Group President David Malpass to the staff of the Development Research Group. This paper assembles a set of 13...

The seemingly never ending scandals in the world of finance with their damaging effects on value and human welfare argue strongly for an addition to the current paradigm of financial economics. We summarize here our new theory of integrity that reveals integrity as a purely positive phenomenon...

Part I: Econometrics of Financial Markets -- Information Asymmetry, Liquidity and the Dynamic Volume-Return Relation in Panel Data Analysis -- Density forecasts of emerging markets’ exchange rates using Monte Carlo simulation with regime switching -- Determination of the own funds requirements...

Terms, definitions and short essays -- Deposit insurance schemes -- Gramm-Leach-Bailey Act: creating a new bank for a new millennium -- Comparative analysis of zero-coupon and coupon-pre-funded bonds -- Intertemporal risk and currency risk -- Credit derivatives -- international parity conditions...

This book gives readers the theoretical and empirical methods to analyze applied economics. They are institutional economics, information economics, environmental economics, international economics, financial economics, industrial organization, public economics, law and economics, and spatial...

1. What we know and what we don't know about the firm -- 2. The extent of the market process -- 3. The 'specialisation deadlock' -- 4. Entrepreneurship and integration -- 5. Authority and hierarchy -- 6. The volatile character of the firm -- 7. Financing, ownership, and boundaries of the firm --...

In light of the recent and ongoing surge of interest in Alfred Marshall's work, this new and original reference volume fills a gap in the literature through a detailed examination of his thought and of his contributions to economics and social science. The Companion places Alfred Marshall's...

A collection of papers from leading thinkers to celebrate the work of the late Wynne Godley, and his enormous contribution to the field of monetary economics. Chapters include in-depth discussions of the revolutionary economic modelling systems that Godley introduced, as well as his prescient...