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Accomplishing State Budget Policy and Process Reforms  

Iris J. Lav

Print publication date:
Mar 2012
Online publication date:
Sep 2012
This article tackles the issue of comprehensive state budget reform. With structural deficits rampant, reform is needed to maintain the current level of programs that states and localities ... More

Achieving Fiscal Sustainability for State and Local Governments  

Robert B. Ward

Print publication date:
Mar 2012
Online publication date:
Sep 2012
Over the last decade, observers of state and local finances have been alarmed over an emerging picture of long-term, structural imbalances. This article examines the concept of fiscal ... More

Adam Smith on Value and Prices  

Nerio Naldi

Print publication date:
May 2013
Online publication date:
Jul 2013
This chapter considers the evolution of the way Smith presented his analysis of value and prices from the to and its importance to understand the structure that that analysis assumes in , where it ... More

Asia in Global Economic Governance  

Peter Petri and Wendy Dobson

Print publication date:
Jan 2014
Online publication date:
Feb 2014
Asia is gradually changing the landscape of regional and global economic cooperation. Institutional reforms are underway to respond to its growing economic clout and pluralism. External ... More

Asian Currencies in the Global Imbalance and Global Financial Crisis  

Eiji Ogawa and Chikafumi Nakamura

Print publication date:
Jan 2014
Online publication date:
Feb 2014
This chapter examines the behavior of the Asia Pacific region’s currencies through the lens of the global financial crisis of 2008-2009 and the global imbalances that have been a possible ... More

Asian Financial Crises  

Anne Krueger

Print publication date:
Jan 2014
Online publication date:
Feb 2014
This chapter analyzes and draws lessons from the Asian financial crisis of 1997-1998. It discusses the underlying factors that led to the crises, the differences from the previous balance ... More

Austrian Business Cycle Theory: A Modern Appraisal  

Andrew Young

Print publication date:
Nov 2015
Online publication date:
Dec 2015
Austrian business cycle theory (ABCT) is a body of hypotheses embodying particularly Austrian insights and assumptions. The canonical variant associated with Ludwig von Mises and Friedrich ... More

Bayesian Macroeconometrics  

Marco del Negro

Print publication date:
Sep 2011
Online publication date:
Nov 2012
This article presents the challenges that arise since macroeconomists often work in data-rich environments. It emphasizes multivariate models that can capture the co-movements of ... More

Bubbles in Asset Prices  

Burton G. Malkiel

Print publication date:
Apr 2012
Online publication date:
Nov 2012
This article addresses three topics. First, it describes what economists mean when they use the term “bubble,” and contrasts the behavioral finance view of asset pricing with the efficient ... More

The Cambridge Post-Keynesian School of Income and Wealth Distribution  

Mauro Baranzini and Amalia Mirante

Print publication date:
Sep 2013
Online publication date:
Oct 2013
This chapter reviews and assesses the genesis and development of the Cambridge post-Keynesian school of income and wealth distribution, the foundations of which were laid in particular by ... More

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