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This collection of articles focuses on some instruments that served to finance the expansion of private European trade and enabled the European intermediation of global commerce in the early modern period. Because they were distinct from those featured by the financial modernization of northern European economies -i.e. banks, bills and bonds, they have been conventionally assumed as archaic and lacking the efficiency and productivity gains of the modern vehicles and institutions. However, they coexisted, completed the financial architecture of Europe, and allowed a substantial extra-European commerce whose expansion was at the core of the Smithian growth of the period. Their persistence, scope and geographical reach were central for the expansion and integration of markets in the early modern globalization. Yet, their understanding is confined to micro-case studies of trades that reliant in cash payments and remittances were lagging in the innovations that revolutionized financial markets and long-distance commerce. This view also ignores their relevance even for the very European economy. Whilst the origins preceded the commercial expansion of Europe, research of the European trade finance has mostly focused on institutions of corporate models of trade finance and their institutional spillovers to bonds markets and banking infrastructure that developed exceptionally in some European economies. The alternative instrument common to these contribution was probably more ubiquitous than others more “modern” and persisted despite the flaws associated with its relative “archaism”.
In the United States stakeholders make rules for the allocation of deceased-donor transplant organs. More than 110,000 Americans are currently awaiting transplants and more than 1,200 die annually before they get transplants; more than 1,700 leave the waiting list annually because they've become too sick to receive transplants. Contributing to better organ transplantation policy is thus socially valuable with life and death consequences. In Negotiating Values, David Weimer deals with this important policy issue. He considers how well stakeholder rulemaking, an example of constructed collaboration, taps relevant expertise and he exploits the unusual opportunity it provides to study the implementation of a substantial planned organizational change. He also explores the implications of “street level” responses for the operation of systemwide allocation rules. Most broadly, Weimer contributes to our understanding of complex multigoal decisionmaking by explicating the interplay between values and evidence in responding to a demand for substantial policy change.
Every five years, the World Congress of the Econometric Society brings together scholars from around the world. Leading scholars present state-of-the-art overviews of their areas of research, offering newcomers access to key research in economics. Advances in Economics and Econometrics: Twelfth World Congress consist of papers and commentaries presented at the Twelfth World Congress of the Econometric Society. This two-volume set includes surveys and interpretations of key developments in economics and econometrics, and discussion of future directions for a variety of topics, covering both theory and application. The first volume addresses such topics as contract theory, industrial organization, health and human capital, as well as racial justice, while the second volume includes theoretical and applied papers on climate change, time series econometrics, and causal inference. These papers are invaluable for experienced economists seeking to broaden their knowledge or young economists new to the field.
This book aims, primarily, to introduce concepts in welfare economics and public economics and will be useful for students in these courses. It provides unified approaches to the evaluation of equality, depolarization, and tax progressivity, three highly important aspects of social wellness. Interconnections among the three seemingly unrelated welfare characteristics are rigorously analyzed in the book, while addressing the questions: What notions of progressivity ensure that an after-tax or post-subsidy income distribution is regarded as more equal than its before-tax or pre-subsidy counterpart? How can depolarization be related to this enquiry? The book takes a sharp and in-depth look also at the questions of equal sacrifice in taxation, incidence of taxation on deprivation, policy implications of alternative taxation schemes, and alternative economic allocation rules. In order to aid students to the best possible extent, it provides non-technical explanations and is enriched by analytical and numerical examples and graphical illustrations of important concepts.