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Economics and Finance

Economics and Finance

Environmental Taxes and Fiscal Reform in the United States

Energy utilization, especially from fossil fuels, creates hidden costs in the form of pollution and environmental damages. The costs are well documented but are hidden in the sense that they occur outside the market, are not reflected in market prices, and are not taken into account by energy users. Double Dividend presents a novel method for designing environmental taxes that correct market prices so that they reflect the true cost of energy.

One lens through which to view global economic interdependence and the spillover of shocks is that of decoupling (and then recoupling). Decoupling between developed and developing countries can be seen in the strong economic performance of China and India relative to that of the United States and Europe in the early 2000s. Recoupling then took place as developing countries sank along with the developed world during the deepening financial crisis of 2008.

The Evolution of Legitimacy and Development in Modern States

Liberal internationalism has been the West’s foreign policy agenda since the Cold War, and the West has long occupied the top rung of a hierarchical system. In this book, Hilton Root argues that international relations, like other complex ecosystems, exists in a constantly shifting landscape, in which hierarchical structures are giving way to systems of networked interdependence, changing every facet of global interaction. Accordingly, policymakers will need a new way to understand the process of change.

Reconciling Air Quality, Climate, and Economic Goals

China’s carbon dioxide emissions now outstrip those of other countries and its domestic air quality is severely degraded, especially in urban areas. Its sheer size and its growing, fossil-fuel-powered economy mean that China’s economic and environmental policy choices will have an outsized effect on the global environmental future. Over the last decade, China has pursued policies that target both fossil fuel use and atmospheric emissions, but these efforts have been substantially overwhelmed by the country’s increasing energy demands.

Mapping Paths to Prosperity

Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society’s productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products.

What Reduces Offending?

Economists who bring the tools of economic analysis to bear on the study of crime and crime prevention contribute to current debates a normative framework and sophisticated quantitative methods for evaluating policy, the idea of criminal behavior as rational choice, and the connection of individual choices to aggregate outcomes. The contributors to this volume draw on all three of these approaches in their investigations and discuss the policy implications of their findings.

Solutions to odd-numbered prep questions, review questions, and exercises in an undergraduate econometric textbook designed to teach students regression analysis on one semester. 

A Self-Contained Approach

This unique introduction to econometrics provides undergraduate students with a command of regression analysis in one semester, enabling them to grasp the empirical literature and undertake serious quantitative projects of their own. It does not assume any previous exposure to probability and statistics but does discuss the concepts in these areas that are essential for econometrics. The bulk of the textbook is devoted to regression analysis, from simple to advanced topics.

An Indian Woman's American Journey

Padma Desai grew up in the 1930s in the provincial world of Surat, India, where she had a sheltered and strict upbringing in a traditional Gujarati Anavil Brahmin family. Her academic brilliance won her a scholarship to Bombay University, where the first heady taste of freedom in the big city led to tragic consequences—seduction by a fellow student whom she was then compelled to marry. In a failed attempt to end this disastrous first marriage, she converted to Christianity.

Voice of Reform in China

For more than thirty years, Wu Jinglian has been widely regarded as China’s most celebrated and influential economist. In the late 1970s, Wu (b. 1930) was one of a small group of economic thinkers who broke with Marxist concepts and learned the principles of a market economy. Since then he has been at the center of economic reform in China, moving seamlessly as an “insider outsider” between academic and policy roles.