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Record Nr. |
UNINA9910828231303321 |
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Autore |
Gwartney James D. |
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Titolo |
Economics : private and public choice / / James D. Gwartney, Richard Stroup, with the assistance of A. H. Studenmund |
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Pubbl/distr/stampa |
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New York, New York ; ; London, England : , : Academic Press, , 1980 |
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©1980 |
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ISBN |
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Edizione |
[2nd ed.] |
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Descrizione fisica |
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1 online resource (936 p.) |
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Disciplina |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di contenuto |
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Front Cover; Economics: Private and Public Choice; Copyright Page; Table of Contents; MYTHS OF ECONOMICS; OUTSTANDING ECONOMISTS; PERSPECTIVES IN ECONOMICS; SUGGESTED OUTLINES FOR ONE-SEMESTER COURSES; PREFACE; ACKNOWLEDGMENTS; PART ONE: THE ECONOMIC WAY OF THINKING - AN INTRODUCTION; CHAPTER 1. THE ECONOMIC APPROACH; WHAT IS ECONOMICS ABOUT?; THE ECONOMIC WAY OF THINKING; POSITIVE ECONOMICS; NORMATIVE ECONOMICS; PITFALLS OF POSITIVE ECONOMICS; WHAT DO ECONOMISTS DO?; CHAPTER 2. SOME TOOLS OF THE ECONOMIST; OPPORTUNITY COST IS THE HIGHEST VALUED OPPORTUNITY LOST |
THE PRODUCTION POSSIBILITIES CURVETRADE TIPS AND COMPARATIVE ADVANTAGE; THREE ECONOMIZING DECISIONS FACING ALL NATIONS: WHAT, HOW, AND FOR WHOM?; TWO METHODS OF MAKING DECISIONS-THE MARKET AND GOVERNMENT PLANNING; CHAPTER 3. SUPPLY, DEMAND, AND THE MARKET PROCESS; SCARCITY NECESSITATES RATIONING; CONSUMER CHOICE AND THE LAW OF DEMAND; PRODUCER CHOICE AND THE LAW OF SUPPLY; MARKETS AND THE COORDINATION OF SUPPLY AND DEMAND; THE COMMUNICATING, COORDINATING, AND MOTIVATING FUNCTIONS OF THE MARKET; CHAPTER 4. A BIRD'S-EYE VIEW OF THE PUBLIC SECTOR; IDEAL ECONOMIC EFFICIENCY |
WHY MIGHT THE INVISIBLE HAND FAIL?GOVERNMENT-A POTENTIAL VEHICLE FOR GAIN; THE MARKET AND THE PUBLIC SECTOR-TWO METHODS OF ECONOMIC ORGANIZATION; CONFLICTS BETWEEN GOOD |
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ECONOMICS AND GOOD POLITICS; CHAPTER 5. TAXES AND GOVERNMENT SPENDING; WHAT DO FEDERAL, STATE, AND LOCAL GOVERNMENTS BUY?; HOW BIG IS GOVERNMENT?; THE GROWTH OF GOVERNMENT; TAXES TO PAY FOR A GROWING GOVERNMENT; POLITICS, TAX INCIDENCE, AND THE STRUCTURE OF TAXES; WHO PAYS THE TAX BILL?; THE TAXES PAID IN OTHER COUNTRIES; TAXES AND POLITICS-A FINAL WORD; PART TWO: MACROECONOMICS; CHAPTER 6. TAKING THE NATION'S ECONOMIC PULSE |
THE CONCEPT OF THE GNPTHE CIRCULAR FLOW OF EXPENDITURES AND RESOURCE COSTS; TWO WAYS OF MEASURING GNP; THE EXPENDITURE APPROACH; THE RESOURCE COST-INCOME APPROACH; GROSS NATIONAL PRODUCT OR GROSS NATIONAL COST?; FIVE PROBLEMS WITH GNP AS A MEASURING ROD; WHAT GNP DOES NOT MEASURE; THE GREAT CONTRIBUTION OF GNP; OTHER RELATED INCOME MEASURES; THE REAL INCOME-REAL OUTPUT LINK; CHAPTER 7. UNEMPLOYMENT, INFLATION, AND BUSINESS CYCLES; MICRO- AND MACROECONOMICS; SWINGS IN THE ECONOMIC PENDULUM; THREE DIFFERENT VIEWS OF THE BUSINESS CYCLE; EMPLOYMENT FLUCTUATIONS IN A DYNAMIC ECONOMY |
WHAT IS FULL EMPLOYMENT?A CLOSER LOOK AT THE EMPLOYMENT STATISTICS; THE ECONOMICS OF INFLATION; THE COST OF INFLATION; THE ECONOMIC WAY OF THINKING-DISCUSSION QUESTIONS; CHAPTER 8. AGGREGATE EQUILIBRIUM AND A SIMPLE KEYNESIAN MODEL; TOOLS OF THE MODERN KEYNESIAN ANALYSIS; SAVING, INVESTMENT, AND THE CIRCULAR FLOW ANALYSIS; KEYNES AND THE VIEW OF CLASSICAL ECONOMISTS; THE DETERMINANTS OF CONSUMPTION; THE DETERMINANTS OF INVESTMENT; EQUILIBRIUM AND THE KEYNESIAN MODEL; LEAKAGES AND INJECTIONS-ANOTHER WAY OF LOOKING AT EQUILIBRIUM; THE MAJOR MESSAGE OF KEYNES |
CHAPTER 9. THE MULTIPLIER, THE ACCELERATOR, AND A KEYNESIAN VIEW OF THE BUSINESS CYCLE |
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2. |
Record Nr. |
UNINA9910968724703321 |
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Titolo |
The microstructure of foreign exchange markets / / edited by Jeffrey A. Frankel, Giampaolo Galli, and Alberto Giovannini |
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Pubbl/distr/stampa |
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Chicago, Ill., : University of Chicago Press, c1996 |
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ISBN |
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9786612069840 |
9781282069848 |
1282069845 |
9780226260235 |
0226260232 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (x, 346 pages) : illustrations |
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Collana |
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A National Bureau of Economic Research conference report |
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Altri autori (Persone) |
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FrankelJeffrey A |
GalliG |
GiovanniniAlberto |
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Disciplina |
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Soggetti |
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Foreign exchange |
Banks and banking, International |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Papers from a conference sponsored by the Bank of Italy, the National Bureau of Economic Research of Cambridge, USA, and the Centre for Economic Policy Research of London, UK, was held at S.A.DI.BA., the Banca d'Italia's conference center in Perugia, Italy, on July 1-2, 1994. |
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Nota di bibliografia |
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Includes bibliographical references and indexes. |
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Nota di contenuto |
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Frontmatter -- Contents -- Preface -- Introduction -- 1. Risk and Thrnover in the Foreign Exchange Market -- 2. Bid-Ask Spreads in Foreign Exchange Markets: Implications for Models of Asymmetric Information -- 3. Interdealer Trade and Information Flows in a Decentralized Foreign Exchange Market -- 4. One Day in June 1993: A Study of the Working of the Reuters 2000-2 Electronic Foreign Exchange Trading System -- 5. Foreign Exchange Volume: Sound and Fury Signifying Nothing? -- 6. Dynamic Hedging and the Interest Rate Defense -- 7. Heterogeneous Behavior in Exchange Rate Crises -- 8. Exchange Rate Economics: What's Wrong with the Conventional Macro Approach? -- 9. Is There a Safe Passage to EMU? Evidence on Capital Controls and·a Proposal -- Contributors -- Author Index -- Subject Index |
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Sommario/riassunto |
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The foreign exchange market is the largest, fastest-growing financial market in the world. Yet conventional macroeconomic approaches do not explain why people trade foreign exchange. At the same time, they fail to explain the short-run determinants of the exchange rate. These nine innovative essays use a microstructure approach to analyze the workings of the foreign exchange market, with special emphasis on institutional aspects and the actual behavior of market participants. They examine the volume of transactions, heterogeneity of traders, the time of day and location of trading, the bid-ask spread, and the high level of exchange rate volatility that has puzzled many observers. They also consider the structure of the market, including such issues as nontransparency, asymmetric information, liquidity trading, the use of automated brokers, the relationship between spot and derivative markets, and the importance of systemic risk in the market. This timely volume will be essential reading for anyone interested in the economics of international finance. |
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