In this collection of 16 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. - Presents coherent summaries of CGE theories that inform major model types - Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results - Shows how CGE modeling has made a contribution to economic policy
Control over education has been a keenly contested area since the Justice and Development Party (AKP) came to power in Turkey. Central to this contest has been the question of whose values would be passed down to future generations, with the inculcation of gender segregation in primary schools a key marker in ongoing cultural battles over Turkey's secularist founding principles and the growing dominance of Islamist political movements. This book offers an in-depth analysis of gender inequality in action in the Turkish schooling system by examining changes in education provision and culture in the years since 2012. Based on two school ethnographies conducted in an AKP-dominated district of Istanbul where the author worked as a teacher and researcher, it examines neoliberal education policies and their co-option by the AKP and other Islamist movements to promote their own agendas, while also considering the effects of the struggle between rival Islamist groups. Grounding its theoretical approach with empirical evidence of ideology in action, it provides an important analysis of the way in which boys and girls are socialized in Turkey's public schooling system.
Handbook of Macroeconomics surveys all major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues. It courageously examines why existing models failed during the financial crisis, and also addresses well-deserved criticism head on. With contributions from the world's chief macroeconomists, its reevaluation of macroeconomic scholarship and speculation on its future constitute an investment worth making. - Serves a double role as a textbook for macroeconomics courses and as a gateway for students to the latest research - Acts as a one-of-a-kind resource as no major collections of macroeconomic essays have been published in the last decade
The economic influence of central banks has received ever more attention given their centrality during the financial crises that led to the Great Recession, strains in the European Union, and the challenges to the Euro. The Oxford Handbook of the Economics of Central Banking reflects the state of the art in the theory and practice and covers a wide range of topics that will provide insight to students, scholars, and practitioners. As an up to date reference of the current and potential challenges faced by central banks in the conduct of monetary policy and in the search for the maintenance of financial system stability, this Oxford Handbook covers a wide range of essential issues. The first section provides insights into central bank governance, the differing degrees of central bank independence, and the internal dynamics of their decision making. The next section focuses on questions of whether central banks can ameliorate fiscal burdens, various strategies to affect monetary policy, and how the global financial crisis affected the relationship between the traditional focus on inflation targeting and unconventional policy instruments such as quantitative easing (QE), foreign exchange market interventions, negative interest rates, and forward guidance. The next two sections turn to central bank communications and management of expectations and then mechanisms of policy transmission. The fifth part explores the challenges of recent developments in the economy and debates about the roles central banks should play, focusing on micro- and macro-prudential arguments. The implications of recent developments for policy modeling are covered in the last section. The breadth and depth enhances understanding of the challenges and opportunities facing central banks.
Global crises are very rare events. After the Great Depression and the Great Stagflation, new macroeconomic paradigms associated with a new policy regime emerged. This book addresses how some macroeconomic ideas have failed, and examines which theories researchers should preserve and develop. It questions how the field of economics Ð still reeling from the global financial crisis initiated in the summer of 2007 Ð will respond. The contributors, nine highly-renowned macroeconomists, highlight the virtues of eclectic macroeconomics over an authoritarian normative approach, and illustrate that macroeconomic reasoning can still be a useful tool for carrying out practical policy analysis. As for emerging research programmes, their wide-ranging chapters remind us that there are positive approaches to and reasons to believe in old-fashioned macroeconomics. This challenging and thought-provoking book will prove a stimulating read for researchers, academics and students of economics, as well as for professional economists.
Prepared by an international team of eminent atmospheric scientists, Mechanisms of Atmospheric Oxidation of the Oxygenates is an authoritative source of information on the role of oxygenates in the chemistry of the atmosphere. The oxygenates, including the many different alcohols, ethers, aldehydes, ketones, acids, esters, and nitrogen-atom containing oxygenates, are of special interest today due to their increased use as alternative fuels and fuel additives. This book describes the physical properties of oxygenates, as well as the chemical and photochemical parameters that determine their reaction pathways in the atmosphere. Quantitative descriptions of the pathways of the oxygenates from release or formation in the atmosphere to final products are provided, as is a comprehensive review and evaluation of the extensive kinetic literature on the atmospheric chemistry of the different oxygenates and their many halogen-atom substituted analogues. This book will be of interest to modelers of atmospheric chemistry, environmental scientists and engineers, and air quality planning agencies as a useful input for development of realistic modules designed to simulate the atmospheric chemistry of the oxygenates, their major oxidation products, and their influence on ozone and other trace gases within the troposhere.
In recent years nonlinearities have gained increasing importance in economic and econometric research, particularly after the financial crisis and the economic downturn after 2007. This book contains theoretical, computational and empirical papers that incorporate nonlinearities in econometric models and apply them to real economic problems. It intends to serve as an inspiration for researchers to take potential nonlinearities in account. Researchers should be aware of applying linear model-types spuriously to problems which include non-linear features. It is indispensable to use the correct model type in order to avoid biased recommendations for economic policy.
An integrated analysis of how financial frictions can be accounted for in macroeconomic models built to study monetary policy and macroprudential regulation. Since the global financial crisis, there has been a renewed effort to emphasize financial frictions in designing closed- and open-economy macroeconomic models for monetary and macroprudential policy analysis. Drawing on the extensive literature of the past decade as well as his own contributions, in this book Pierre-Richard Age&́nor provides a unified set of theoretical and quantitative macroeconomic models with financial frictions to explore issues that have emerged in the wake of the crisis. These include the need to understand better how the financial system amplifies and propagates shocks originating elsewhere in the economy; how it can itself be a source of aggregate fluctuations; the extent to which central banks should account for financial stability considerations in the conduct of monetary policy; whether national central banks and regulators should coordinate their policies to promote macroeconomic and financial stability; and how much countercyclical macroprudential policies should be coordinated at the international level to mitigate financial spillovers across countries.
Offering an authoritative study of the plural religious landscape in modern Syria and of the diverse Christian and Muslim communities that have cohabited the country for centuries, this volume considers a wide range of cultural, religious and political issues that have impacted the interreligious dynamic, putting them in their local and wider context. Combining fieldwork undertaken within government-held areas during the Syrian conflict with critical historical and Christian theological reflection, this research makes a significant contribution to understanding Syria’s diverse religious landscape and the multi-layered expressions of Christian-Muslim relations. It discusses the concept of sectarianism and how communal dynamics are crucial to understanding Syrian society. The complex wider issues that underlie the relationship are examined, including the roles of culture and religious leadership; and it questions whether the analytical concept of sectarianism is adequate to describe the complex communal frameworks in the Middle Eastern context. Finally, the study examines the contributions of contemporary Eastern Christian leaders to interreligious discourse, concluding that the theology and spirituality of Eastern Christianity, inhabiting the same cultural environment as Islam, is uniquely placed to play a major role in interreligious dialogue and in peace-making. The book offers an original contribution to knowledge and understanding of the changing Christian-Muslim dynamic in Syria and the region. It should be a key resource to students, scholars and readers interested in religion, current affairs and the Middle East.
We examine the role of global and domestic shocks in driving macroeconomic fluctuations for Ghana. We are able to study the impact of exogenous shocks including productivity, credit supply, and commodity price shocks. We identify the shocks with a combination of sign and recursive restrictions within Bayesian VAR models. As a benchmark we provide results for South Africa to document the difference between two economies with similar structures but different levels of development. We find that global shocks play a more dominant role in South Africa than in Ghana. These shocks operate through three channels: trade, credit and commodity prices.
