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This book challenges the mainstream paradigm with the introduction of a new methodology. Economies are represented realistically in a fully articulated system of national income and flow of funds accounts. The authors study how flows of income, expenditure and…

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This comprehensive textbook introduces readers to the principal ideas and applications of game theory, in a style that combines rigor with accessibility. Steven Tadelis begins with a concise description of rational decision making, and goes on to discuss…

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Many individuals proclaim that global capitalism is here to stay. Unfettered markets, they argue, now drive the world, and all countries must adjust, no matter how painful this may be for some. Robert Gilpin, author of the widely acclaimed Political Economy of…

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Into the Red explores the emergence of a credit card market in post-Soviet Russia during the formative period from 1988 to 2007. In her analysis, Alya Guseva locates the dynamics of market building in the social structure, specifically the creative use of social…

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Conventional wisdom holds that all nations must repay debt. Regardless of the legitimacy of the regime that signs the contract, a country that fails to honor its loan obligations damages its reputation, inviting still greater problems down the road. Yet difficult…

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In the summer of 2008, a conflict that appeared to have begun in the breakaway Georgian territory of South Ossetia rapidly escalated to become the most significant crisis in European security in a decade. The implications of the Russian-Georgian war will be…

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The practical importance of auction theory is widely recognized. Indeed, economists have been recognized for their contribution to the design of several auction-like mechanisms, such as the U. S. Federal Communications Commission spectrum auctions, the 3G…

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Dynamic stochastic general equilibrium (DSGE) models have become one of the workhorses of modern macroeconomics and are extensively used for academic research as well as forecasting and policy analysis at central banks. This book introduces readers to…

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Whether you're a full-time trader looking to make a living or a part-time trader looking to make some extra money, the foreign exchange (forex) market has what you desire--the potential to make sizeable profits and 24/7 accessibility. But to make it in today's…

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Defenders of capitalism claim that its inequality is the necessary price of the freedom that it guarantees. In that defense of capitalist inequality, freedom is self-ownership, the right of each person to do as he wishes with himself. The author shows that…

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A collection of papers discussing the  important contemporary economic issues pertaining to South Asia, this record is organized around four major themes: accelerating rural frowth and empowering the rural poor; investing in the social sector; improving the…

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First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.