The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. The direct interaction between individuals, firms and banks does not simply produce imperfections in the functioning of the economy but is the very basis of the functioning of a modern economy. This book su...

This book focuses on how important massive information is and how sensitive outcomes are to information. In this century humans now are coming up against the massive utilization of information in various contexts. The advent of super intelligence is drastically accelerating the evolution of the socio-economic system. Our traditional analytic approach must therefore be radically reformed in order to adapt to an information-sensitive framework, which means giving up myopic purification and t...

This book is open access under a CC BY-NC 4.0 license.This collected volume represents the final outcome of the COST Action IS1104 “The EU in the new complex geography of economic systems: models, tools and policy evaluation”.Visualizing the EU as a complex and multi-layered network, the book is organized in three parts, each of them dealing with a different level of analysis: At the macro-level, Part I considers the interactions within large economic systems (regions or co...

This book provides an in-depth investigation of the link between human capital and economic growth. The authors take an innovative approach, examining the determinants of economic growth through a historical overview of the concept of human capital.The text fosters a deep understanding of the connection between human capital and economic growth through the exploration of different theoretical approaches, a review of the literature, and the application of nonlinear estimation techni...

Just as we learn from, influence, and are influenced by others, our social interactions drive economic growth in cities, regions, and nations--determining where households live, how children learn, and what cities and firms produce. From Neighborhoods to Nations synthesizes the recent economics of social interactions for anyone seeking to understand the contributions of this important area. Integrating theory and empirics, Yannis Ioannides explores theoretical and empirical tools ...

This book was first published in 1977. Urban economics is a relatively young field of economics; hardly existing except perhaps in real estate and land economics curricula-before the 1960s. Within the last few years, especially after 1 971, there has been a growth of interest in urban economic theory, strong enough even to attract the attention of general economic theorists. These new theoretical writings have been named the 'New Urban Economics'-NUE for short. The aim of this monograph is...

This important textbook offers a comprehensive look into the two main traditions in contemporary macroeconomics –- New Classical and Keynesian –- and examines the work of economists who have drawn on principles from both traditions to form a new, integrated approach known as New Neoclassical Synthesis. Importantly, this provides the theoretical foundation for much of current mainstream economics and the work done by central banks around the world. With a dual focus on research methods and ...

This book investigates the interaction of effective goods demand with the wage-price spiral, and the impact of monetary policy on financial and the real markets from a Keynesian perspective. Endogenous business fluctuations are studied in the context of long-run distributive cycles in an advanced, rigorously formulated and quantitative setup. The material is developed by way of self-contained chapters on three levels of generality, an advanced textbook level, a research-oriented applied le...

This edited collection, first published in 1987, provides a comparative analysis of different approaches to urban modelling, and lays the foundations for the possibility of integration and a more unified field. The first part contextualises the development of the field of urban systems modelling, focusing on the variety of approaches and possible implications of this on the future of research and methodology. Next, the editors consider economic and ‘non-economic’ approaches, followed by an...

The book offers an interdisciplinary perspective on finance, with a special focus on stock markets. It presents new methodologies for analyzing stock markets’ behavior and discusses theories and methods of finance from different angles, such as the mathematical, physical and philosophical ones. The book, which aims at philosophers and economists alike, represents a rare yet important attempt to unify the externalist with the internalist conceptions of finance.

Although most traditional economic theory puts the individual at the centre of analysis, more recent approaches have acknowledged the importance of a wider sense of identity as a determinant of individual behaviour. Whether it is ethnicity, religion or gender, group membership is a central part of human life. This book presents new advances in areas which consider both the individual and the group when measuring inequalities and well-being.The first part of the book covers topics s...

This volume gathers together key new contributions on the subject of the relationship, both empirical and theoretical, between economic oscillations, growth and structural change. Employing a sophisticated level of mathematical modelling, the collection contains articles from, amongst others, William Baumol, Katsuhito Iwai and William Brock.