Michael W. Foley and Dean R. Hoge
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780195188707
- eISBN:
- 9780199785315
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195188707.001.0001
- Subject:
- Religion, Religion and Society
This book assesses the role of local worship communities — churches, mosques, temples, and others — in promoting civic engagement among recent immigrants to the United States. The product of a ...
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This book assesses the role of local worship communities — churches, mosques, temples, and others — in promoting civic engagement among recent immigrants to the United States. The product of a three-year study of immigrant worship communities in the Washington, D.C. area, the study looked at churches, mosques, temples, and other communities of immigrants from Korea, China, India, West Africa, the Muslim world, and El Salvador. The researchers surveyed 200 of these communities and studied twenty in depth. Communities vary widely in how much they build social capital, provide social services to immigrants, develop the civic skills of members, and shape immigrants' identities. Local leadership and group characteristics much more than ethnic origin or religious tradition shape the level and kind of civic engagement that the communities foster. Particularly, where leaders are civically engaged, they provide personal and organizational links to the wider American society and promote civic engagement by members. Homeland causes and a strong sense of religious and ethnic identity, far from alienating immigrants from American society, promote higher levels of civic engagement in immigrant communities.Less
This book assesses the role of local worship communities — churches, mosques, temples, and others — in promoting civic engagement among recent immigrants to the United States. The product of a three-year study of immigrant worship communities in the Washington, D.C. area, the study looked at churches, mosques, temples, and other communities of immigrants from Korea, China, India, West Africa, the Muslim world, and El Salvador. The researchers surveyed 200 of these communities and studied twenty in depth. Communities vary widely in how much they build social capital, provide social services to immigrants, develop the civic skills of members, and shape immigrants' identities. Local leadership and group characteristics much more than ethnic origin or religious tradition shape the level and kind of civic engagement that the communities foster. Particularly, where leaders are civically engaged, they provide personal and organizational links to the wider American society and promote civic engagement by members. Homeland causes and a strong sense of religious and ethnic identity, far from alienating immigrants from American society, promote higher levels of civic engagement in immigrant communities.
Phillippe Aghion and Abhijit Banerjee
- Published in print:
- 2005
- Published Online:
- January 2007
- ISBN:
- 9780199248612
- eISBN:
- 9780191714719
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199248612.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
One of the core assumptions of the neoclassical model is that there is a single market interest rate and every firm invests to the point where their marginal product is equal to this rate. There is a ...
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One of the core assumptions of the neoclassical model is that there is a single market interest rate and every firm invests to the point where their marginal product is equal to this rate. There is a large body of research showing that this neoclassical postulate often does a very poor job of describing reality. It is shown that there seems to be clear evidence that the typical firm, at least in the developing world, has a marginal product which is substantially above the market interest rate. This suggests that the firm cannot borrow as much as it wants at the going market rate. In other words, the supply curve of capital to the firm must be upward sloping, or even vertical (a hard limit on how much the firm can borrow). A simple model is sketched that explains why lenders impose limits on how much firms can borrow.Less
One of the core assumptions of the neoclassical model is that there is a single market interest rate and every firm invests to the point where their marginal product is equal to this rate. There is a large body of research showing that this neoclassical postulate often does a very poor job of describing reality. It is shown that there seems to be clear evidence that the typical firm, at least in the developing world, has a marginal product which is substantially above the market interest rate. This suggests that the firm cannot borrow as much as it wants at the going market rate. In other words, the supply curve of capital to the firm must be upward sloping, or even vertical (a hard limit on how much the firm can borrow). A simple model is sketched that explains why lenders impose limits on how much firms can borrow.
Fred Luthans, Carolyn M. Youssef, and Bruce J. Avolio
- Published in print:
- 2006
- Published Online:
- September 2007
- ISBN:
- 9780195187526
- eISBN:
- 9780199789863
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195187526.001.0001
- Subject:
- Business and Management, Organization Studies
This book draws from a foundation of positive psychology and recently emerging positive organizational behavior (POB). Its purpose is to introduce the untapped human resource capacity of ...
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This book draws from a foundation of positive psychology and recently emerging positive organizational behavior (POB). Its purpose is to introduce the untapped human resource capacity of psychological capital, or simply PsyCap. This PsyCap goes beyond traditionally recognized human and social capital and must meet the scientific criteria of theory, research, and valid measurement. To distinguish from other constructs in positive psychology and organizational behavior, to be included in PsyCap the resource capacity must also be “state-like” and thus open to development (as opposed to momentary states or fixed traits) and have performance impact. The positive psychological resource capacities that meet these PsyCap criteria — efficacy (confidence), hope, optimism, and resilience — are covered in separate chapters. These four resource capacities are conceptually and empirically distinct, but also have underlying common processes for striving to succeed and when in combination contribute to a higher-order, core construct of psychological capital. Besides these four, other potential positive constructs such as creativity, wisdom, well being, flow, humor, gratitude, forgiveness, emotional intelligence, spirituality, authenticity, and courage are covered in Chapters 6 and 7. The concluding Chapter 8 summarizes and presents the research demonstrating the performance impact of PsyCap, the PsyCap questionnaire (PCQ) for measurement and the PsyCap Intervention (PCI) for development. Utility analysis indicates that investing in the development of PsyCap can result in a very substantial return. In total, this book provides the theory, research, measure, and method of application for the new resource of Psychological Capital that can be developed and sustained for competitive advantage.Less
This book draws from a foundation of positive psychology and recently emerging positive organizational behavior (POB). Its purpose is to introduce the untapped human resource capacity of psychological capital, or simply PsyCap. This PsyCap goes beyond traditionally recognized human and social capital and must meet the scientific criteria of theory, research, and valid measurement. To distinguish from other constructs in positive psychology and organizational behavior, to be included in PsyCap the resource capacity must also be “state-like” and thus open to development (as opposed to momentary states or fixed traits) and have performance impact. The positive psychological resource capacities that meet these PsyCap criteria — efficacy (confidence), hope, optimism, and resilience — are covered in separate chapters. These four resource capacities are conceptually and empirically distinct, but also have underlying common processes for striving to succeed and when in combination contribute to a higher-order, core construct of psychological capital. Besides these four, other potential positive constructs such as creativity, wisdom, well being, flow, humor, gratitude, forgiveness, emotional intelligence, spirituality, authenticity, and courage are covered in Chapters 6 and 7. The concluding Chapter 8 summarizes and presents the research demonstrating the performance impact of PsyCap, the PsyCap questionnaire (PCQ) for measurement and the PsyCap Intervention (PCI) for development. Utility analysis indicates that investing in the development of PsyCap can result in a very substantial return. In total, this book provides the theory, research, measure, and method of application for the new resource of Psychological Capital that can be developed and sustained for competitive advantage.
Ivana Markova (ed.)
- Published in print:
- 2004
- Published Online:
- January 2012
- ISBN:
- 9780197263136
- eISBN:
- 9780191734922
- Item type:
- book
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197263136.001.0001
- Subject:
- Psychology, Social Psychology
The ten chapters in this book are concerned with theoretical and empirical analyses of trust and distrust in post-Communist Europe after the collapse of the Soviet bloc in 1989. The contributors come ...
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The ten chapters in this book are concerned with theoretical and empirical analyses of trust and distrust in post-Communist Europe after the collapse of the Soviet bloc in 1989. The contributors come from different disciplines, ranging from history, economics, and political science to social psychology and sociology, and they show, above all, that the Soviet ‘bloc’ was in fact a rich spectrum of different countries with diverse histories, cultures, and traditions, and–not surprisingly–with different expectations for the future. Like other social concepts, trust never makes sense in isolation but only within the network of other concepts–in this case, social capital, faith, belief, solidarity, reciprocity, and security. ‘Trust’ is a highly polysemic term. Differences between meanings of trust in countries with democratic traditions and in post-totalitarian countries raise questions about the ways in which history, culture, and social psychology shape the nature and development of political phenomena. These questions include: antinomies such as trust versus risk, and trust versus fear; the co-existence of rural and urban systems; legitimacy of different political regimes; and the arbitrariness of decisions and the abuse of common sense in totalitarianism. The transition period in many post-Communist countries has now been completed and in others it is likely to be completed in the near future. Yet the chapters show that while political and economic changes can have rapid effects, cultural and psychological changes may linger and influence the quality of political trust and representations of democracy.Less
The ten chapters in this book are concerned with theoretical and empirical analyses of trust and distrust in post-Communist Europe after the collapse of the Soviet bloc in 1989. The contributors come from different disciplines, ranging from history, economics, and political science to social psychology and sociology, and they show, above all, that the Soviet ‘bloc’ was in fact a rich spectrum of different countries with diverse histories, cultures, and traditions, and–not surprisingly–with different expectations for the future. Like other social concepts, trust never makes sense in isolation but only within the network of other concepts–in this case, social capital, faith, belief, solidarity, reciprocity, and security. ‘Trust’ is a highly polysemic term. Differences between meanings of trust in countries with democratic traditions and in post-totalitarian countries raise questions about the ways in which history, culture, and social psychology shape the nature and development of political phenomena. These questions include: antinomies such as trust versus risk, and trust versus fear; the co-existence of rural and urban systems; legitimacy of different political regimes; and the arbitrariness of decisions and the abuse of common sense in totalitarianism. The transition period in many post-Communist countries has now been completed and in others it is likely to be completed in the near future. Yet the chapters show that while political and economic changes can have rapid effects, cultural and psychological changes may linger and influence the quality of political trust and representations of democracy.
J. R. Hicks
- Published in print:
- 1987
- Published Online:
- November 2003
- ISBN:
- 9780198772873
- eISBN:
- 9780191596438
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198772874.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Capital and Growth by John Hicks was published in 1965 and rapidly established itself as a landmark in economic theory. This book takes earlier work and examines it critically for its ...
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Capital and Growth by John Hicks was published in 1965 and rapidly established itself as a landmark in economic theory. This book takes earlier work and examines it critically for its present-day value. The theme, now more clearly identified, is a comparative study of the economics of change, and brings in many of Hicks's subsequent developments and refinements — in particular a ‘neo-Austrian’ theory of capital which he developed in Capital and Time (1973). A new chapter on Keynes's methods has been added. This book presents a complete classification of the family of models appropriate for analysing dynamic economics.Less
Capital and Growth by John Hicks was published in 1965 and rapidly established itself as a landmark in economic theory. This book takes earlier work and examines it critically for its present-day value. The theme, now more clearly identified, is a comparative study of the economics of change, and brings in many of Hicks's subsequent developments and refinements — in particular a ‘neo-Austrian’ theory of capital which he developed in Capital and Time (1973). A new chapter on Keynes's methods has been added. This book presents a complete classification of the family of models appropriate for analysing dynamic economics.
Tyler Beck Goodspeed
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199846658
- eISBN:
- 9780199950126
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199846658.001.0001
- Subject:
- Economics and Finance, Economic Systems
While standard accounts of the theoretical debates in 1930s economic thought invariably pit John Maynard Keynes against Friedrich von Hayek, this reflexive dichotomy is in many respects exceedingly ...
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While standard accounts of the theoretical debates in 1930s economic thought invariably pit John Maynard Keynes against Friedrich von Hayek, this reflexive dichotomy is in many respects exceedingly superficial. It is the argument of this book that both Keynes and Hayek developed their respective theories of the business cycle within the tradition of Swedish economist Knut Wicksell, and that this shared genealogy manifested itself in significant theoretical affinities between the two apparent antagonists. The salient features of Wicksell’s work, namely, the importance of money, the role of uncertainty, coordination failures, and the element of time in capital accumulation, all motivate the Keynesian and Hayekian theories of economic fluctuations, and contributed, The author argues to a fundamental convergence between the two economists during the course of the 1930s. Moreover, this shared, “Wicksellian” vision of the economic problem points to a very different research agenda from that of the Walrasian-style, general equilibrium analysis that has dominated postwar macroeconomics. The book aims not only to deconstruct some of the historical misconceptions of the Keynes versus Hayek debate but also to suggest how the insights thus uncovered can inform and instruct modern theory. While much of the analysis is quite technical, it does not assume previous knowledge of 1930s economic theory and thus should be accessible to economists, political scientists, and historians with general economics training, as well as to graduate students in these fields.Less
While standard accounts of the theoretical debates in 1930s economic thought invariably pit John Maynard Keynes against Friedrich von Hayek, this reflexive dichotomy is in many respects exceedingly superficial. It is the argument of this book that both Keynes and Hayek developed their respective theories of the business cycle within the tradition of Swedish economist Knut Wicksell, and that this shared genealogy manifested itself in significant theoretical affinities between the two apparent antagonists. The salient features of Wicksell’s work, namely, the importance of money, the role of uncertainty, coordination failures, and the element of time in capital accumulation, all motivate the Keynesian and Hayekian theories of economic fluctuations, and contributed, The author argues to a fundamental convergence between the two economists during the course of the 1930s. Moreover, this shared, “Wicksellian” vision of the economic problem points to a very different research agenda from that of the Walrasian-style, general equilibrium analysis that has dominated postwar macroeconomics. The book aims not only to deconstruct some of the historical misconceptions of the Keynes versus Hayek debate but also to suggest how the insights thus uncovered can inform and instruct modern theory. While much of the analysis is quite technical, it does not assume previous knowledge of 1930s economic theory and thus should be accessible to economists, political scientists, and historians with general economics training, as well as to graduate students in these fields.
George J. Benston, Michael Bromwich, Robert E. Litan, and Alfred Wagenhofer
- Published in print:
- 2006
- Published Online:
- February 2006
- ISBN:
- 9780195305838
- eISBN:
- 9780199783342
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195305833.001.0001
- Subject:
- Economics and Finance, Financial Economics
This book provides readers with reasonably concise descriptions of the state of global markets, the benefits and limitations of financial accounting and accounting/auditing standards, and the ...
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This book provides readers with reasonably concise descriptions of the state of global markets, the benefits and limitations of financial accounting and accounting/auditing standards, and the development, status, and current policy issues of corporate financial reporting in major countries and the European Union. The globalization of financial markets has contributed to a growing consensus that national financial reporting standards should give way to a single, harmonized set of global reporting standards. This book takes a more practical approach and reaches a different conclusion: that global standards are unlikely to be achieved, and in any event, are not likely to remain unified in the face of continued changes in markets and financial practices. National accounting standards are likely to continue to be relevant for the foreseeable future, and for that reason, the book discusses the national systems and their origins in some detail. The authors also consider a range of other substantive reporting issues, notably the debate over the issue of “fair value” measurement of assets and liabilities, which the authors reject in favor of a system that marks to market only those assets with deep traded markets, coupled with additional disclosures, where relevant.Less
This book provides readers with reasonably concise descriptions of the state of global markets, the benefits and limitations of financial accounting and accounting/auditing standards, and the development, status, and current policy issues of corporate financial reporting in major countries and the European Union. The globalization of financial markets has contributed to a growing consensus that national financial reporting standards should give way to a single, harmonized set of global reporting standards. This book takes a more practical approach and reaches a different conclusion: that global standards are unlikely to be achieved, and in any event, are not likely to remain unified in the face of continued changes in markets and financial practices. National accounting standards are likely to continue to be relevant for the foreseeable future, and for that reason, the book discusses the national systems and their origins in some detail. The authors also consider a range of other substantive reporting issues, notably the debate over the issue of “fair value” measurement of assets and liabilities, which the authors reject in favor of a system that marks to market only those assets with deep traded markets, coupled with additional disclosures, where relevant.
Curtis J. Milhaupt and Mark D. West
- Published in print:
- 2004
- Published Online:
- August 2004
- ISBN:
- 9780199272112
- eISBN:
- 9780191601316
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199272115.001.0001
- Subject:
- Economics and Finance, Financial Economics
Using an institutional and empirical approach, this book analyses the role of formal rules (law and regulations) and informal rules (norms, practices, and shared beliefs) in the Japanese economy. ...
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Using an institutional and empirical approach, this book analyses the role of formal rules (law and regulations) and informal rules (norms, practices, and shared beliefs) in the Japanese economy. Through in‐depth studies of corporate governance and finance, mergers and acquisitions, financial regulation, organized crime, and markets for everything from venture capital to legal talent, Professors Milhaupt and West show that institutions play a crucial and heretofore overlooked role in the structure of the Japanese economy, which often is portrayed as being governed exclusively by interpersonal relations and bureaucratic fiat. As these rules change, Japanese actors are responding, reshaping corporate governance and financial markets, while eroding the bureaucracy's power.Less
Using an institutional and empirical approach, this book analyses the role of formal rules (law and regulations) and informal rules (norms, practices, and shared beliefs) in the Japanese economy. Through in‐depth studies of corporate governance and finance, mergers and acquisitions, financial regulation, organized crime, and markets for everything from venture capital to legal talent, Professors Milhaupt and West show that institutions play a crucial and heretofore overlooked role in the structure of the Japanese economy, which often is portrayed as being governed exclusively by interpersonal relations and bureaucratic fiat. As these rules change, Japanese actors are responding, reshaping corporate governance and financial markets, while eroding the bureaucracy's power.
Paul Windolf
- Published in print:
- 2002
- Published Online:
- January 2010
- ISBN:
- 9780199256976
- eISBN:
- 9780191719639
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199256976.001.0001
- Subject:
- Business and Management, Organization Studies
Corporate networks form part of the institutional structure of markets and the business environment, enabling firms to coordinate their behaviour and regulate competition. Networks perform a number ...
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Corporate networks form part of the institutional structure of markets and the business environment, enabling firms to coordinate their behaviour and regulate competition. Networks perform a number of economic functions: they reduce information asymmetries and uncertainty, and facilitate the redistribution of risk between banks, firms, and investors. Within these networks, firms collectively monitor one another and owners supervise their managers. This book analyses comparative data on interlocking directorates and capital networks between large corporations in the United States and five countries in Europe: Germany, Great Britain, France, Switzerland, and the Netherlands. The structure of corporate networks is shaped by the traditions, culture, and institutions of a country. Corporate networks may be considered as a configuration of firms that are connected to one another by managers (interlocks), or as a configuration of managers who meet each other on the board of directors (network of the economic elite). The resources on which the dominance of the economic elite is based are bureaucratic power, property rights, and social capital. Bureaucratic control over a company is linked with property rights in the context of specific network configurations that vary between countries and lead to differing forms of managerial control. In the transitional economies, the type of capitalism that is evolving somewhat resembles Western managerial capitalism, but with certain significant differences. Privatization created a relatively high concentration of ownership. There is no clear-cut separation of ownership and control, but rather a balance of power between managers and owners.Less
Corporate networks form part of the institutional structure of markets and the business environment, enabling firms to coordinate their behaviour and regulate competition. Networks perform a number of economic functions: they reduce information asymmetries and uncertainty, and facilitate the redistribution of risk between banks, firms, and investors. Within these networks, firms collectively monitor one another and owners supervise their managers. This book analyses comparative data on interlocking directorates and capital networks between large corporations in the United States and five countries in Europe: Germany, Great Britain, France, Switzerland, and the Netherlands. The structure of corporate networks is shaped by the traditions, culture, and institutions of a country. Corporate networks may be considered as a configuration of firms that are connected to one another by managers (interlocks), or as a configuration of managers who meet each other on the board of directors (network of the economic elite). The resources on which the dominance of the economic elite is based are bureaucratic power, property rights, and social capital. Bureaucratic control over a company is linked with property rights in the context of specific network configurations that vary between countries and lead to differing forms of managerial control. In the transitional economies, the type of capitalism that is evolving somewhat resembles Western managerial capitalism, but with certain significant differences. Privatization created a relatively high concentration of ownership. There is no clear-cut separation of ownership and control, but rather a balance of power between managers and owners.
Beth A. Berkowitz
- Published in print:
- 2006
- Published Online:
- February 2006
- ISBN:
- 9780195179194
- eISBN:
- 9780199784509
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195179196.001.0001
- Subject:
- Religion, Religion and Society
Execution and Invention: Death Penalty Discourse in Early Rabbinic and Christian Cultures argues that ancient rabbis and Christians used death penalty discourse to invent themselves as ...
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Execution and Invention: Death Penalty Discourse in Early Rabbinic and Christian Cultures argues that ancient rabbis and Christians used death penalty discourse to invent themselves as figures of authority. This approach runs counter to much previous scholarship on the subject, which claims that ancient Jews opposed the death penalty and would have abolished it if not for its presence in the Bible. The book explores this scholarship and shows it to have been fueled by modern anti-Semitism, polemics with the the Jewish Enlightenment’s inheritance of anti-rabbinism, as well as controversy in the United States over capital punishment and its abolition. The book moves beyond this “humanitarianism” approach, inviting us instead to see the problem of building and maintaining authority as the crux around which ancient death penalty discourse developed. Drawing on ritual theory, postcolonial theory, and scholarship on criminal execution in other historical contexts, Execution and Invention asks new questions of the ancient texts: How and why do ancient western religions talk about killing criminals? What are the social consequences of this kind of violent talk? What kind of authority is imagined by these texts, and What strategies do the texts use to make this authority seem compelling? Combining the contemporary theory with classical source critical approaches, the book closely reads a variety of ancient texts describing criminal executions. It newly interprets these texts, showing that their descriptions of violent deaths have a complex social function. In the process, the book spins out the social implications of capital punishment and overturns enduring stereotypes of Judaism and Christianity.Less
Execution and Invention: Death Penalty Discourse in Early Rabbinic and Christian Cultures argues that ancient rabbis and Christians used death penalty discourse to invent themselves as figures of authority. This approach runs counter to much previous scholarship on the subject, which claims that ancient Jews opposed the death penalty and would have abolished it if not for its presence in the Bible. The book explores this scholarship and shows it to have been fueled by modern anti-Semitism, polemics with the the Jewish Enlightenment’s inheritance of anti-rabbinism, as well as controversy in the United States over capital punishment and its abolition. The book moves beyond this “humanitarianism” approach, inviting us instead to see the problem of building and maintaining authority as the crux around which ancient death penalty discourse developed. Drawing on ritual theory, postcolonial theory, and scholarship on criminal execution in other historical contexts, Execution and Invention asks new questions of the ancient texts: How and why do ancient western religions talk about killing criminals? What are the social consequences of this kind of violent talk? What kind of authority is imagined by these texts, and What strategies do the texts use to make this authority seem compelling? Combining the contemporary theory with classical source critical approaches, the book closely reads a variety of ancient texts describing criminal executions. It newly interprets these texts, showing that their descriptions of violent deaths have a complex social function. In the process, the book spins out the social implications of capital punishment and overturns enduring stereotypes of Judaism and Christianity.
Dale W. Jorgenson and Kun-Young Yun
- Published in print:
- 1991
- Published Online:
- November 2003
- ISBN:
- 9780198285939
- eISBN:
- 9780191596490
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198285930.001.0001
- Subject:
- Economics and Finance, Public and Welfare
The concept of ‘cost of capital’ was introduced almost thirty years ago and quickly became an indispensable tool for modelling the impact of tax policy on investment behaviour. In the 1980s it ...
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The concept of ‘cost of capital’ was introduced almost thirty years ago and quickly became an indispensable tool for modelling the impact of tax policy on investment behaviour. In the 1980s it assumed a central role in tax reform debates through the closely related concept of the marginal effective tax rate. This book provides a comprehensive treatment of the cost of capital approach to tax policy analysis. In order to make the approach as accessible as possible, the analytical level of the book has been kept to an absolute minimum. The complexities are introduced in a step-by-step fashion, leading up to a representation of tax systems for capital income that is suitable for tax policy analysis. The success of the cost of capital approach is due in large part to its ability to assimilate a virtually unlimited amount of descriptive detail on alternative tax policies. In order to provide guidance to students and practitioners, the book contains a full implementation of the approach for the USA, including an analysis of the alternative proposals that culminated in the highly influential Tax Reform Act of 1986. The chapters of the book are the first in a series of Lectures in Monetary and Fiscal Policy given at Uppsala University in honour of Erik Lindahl, the Swedish economist who was a professor there from 1942 to 1958.Less
The concept of ‘cost of capital’ was introduced almost thirty years ago and quickly became an indispensable tool for modelling the impact of tax policy on investment behaviour. In the 1980s it assumed a central role in tax reform debates through the closely related concept of the marginal effective tax rate. This book provides a comprehensive treatment of the cost of capital approach to tax policy analysis. In order to make the approach as accessible as possible, the analytical level of the book has been kept to an absolute minimum. The complexities are introduced in a step-by-step fashion, leading up to a representation of tax systems for capital income that is suitable for tax policy analysis. The success of the cost of capital approach is due in large part to its ability to assimilate a virtually unlimited amount of descriptive detail on alternative tax policies. In order to provide guidance to students and practitioners, the book contains a full implementation of the approach for the USA, including an analysis of the alternative proposals that culminated in the highly influential Tax Reform Act of 1986. The chapters of the book are the first in a series of Lectures in Monetary and Fiscal Policy given at Uppsala University in honour of Erik Lindahl, the Swedish economist who was a professor there from 1942 to 1958.
J. R. Hicks
- Published in print:
- 1987
- Published Online:
- November 2003
- ISBN:
- 9780198772866
- eISBN:
- 9780191596414
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198772866.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This book, first published in 1973, takes up an important approach to capital which had gone out of fashion. There has been some recent renewed interest in this approach. The ‘Austrian’ theory of ...
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This book, first published in 1973, takes up an important approach to capital which had gone out of fashion. There has been some recent renewed interest in this approach. The ‘Austrian’ theory of capital concentrates on the inputs and outputs in the productive process, and has an advantage over more modern theories of economic dynamics in that it is more naturally expressible in economic terms: the production process over time is taken as a whole, rather than disintegrated. However, this approach had been largely abandoned because it seemed to be unable to deal with fixed capital. The book overcomes this problem here by allowing for a sequence of outputs, and the consequences for dynamic economics are profound and novel.Less
This book, first published in 1973, takes up an important approach to capital which had gone out of fashion. There has been some recent renewed interest in this approach. The ‘Austrian’ theory of capital concentrates on the inputs and outputs in the productive process, and has an advantage over more modern theories of economic dynamics in that it is more naturally expressible in economic terms: the production process over time is taken as a whole, rather than disintegrated. However, this approach had been largely abandoned because it seemed to be unable to deal with fixed capital. The book overcomes this problem here by allowing for a sequence of outputs, and the consequences for dynamic economics are profound and novel.
Michio Morishima
- Published in print:
- 1963
- Published Online:
- November 2003
- ISBN:
- 9780198281450
- eISBN:
- 9780191596650
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198281455.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book brings together papers that were published by the author in several journals, and which have been revised and contain some new material. The main model carried through the whole book is ...
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This book brings together papers that were published by the author in several journals, and which have been revised and contain some new material. The main model carried through the whole book is Leontief's input–output system, which is dynamized from various points of view. Chapter 1 discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system. Chapter 2 is concerned with the stability of the mixed Walras–Leontief system. Chapters 3 and 4 are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. Chapters 5 and 6 are devoted to an analysis of the von Neumann model of economic expansion, which may be considered as a variant of the dynamic Leontief system. Finally, an Appendix generalizes the classical theorems on non‐negative matrices to systems of non‐linear and homogeneous functions.Less
This book brings together papers that were published by the author in several journals, and which have been revised and contain some new material. The main model carried through the whole book is Leontief's input–output system, which is dynamized from various points of view. Chapter 1 discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system. Chapter 2 is concerned with the stability of the mixed Walras–Leontief system. Chapters 3 and 4 are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. Chapters 5 and 6 are devoted to an analysis of the von Neumann model of economic expansion, which may be considered as a variant of the dynamic Leontief system. Finally, an Appendix generalizes the classical theorems on non‐negative matrices to systems of non‐linear and homogeneous functions.
Jerome L. Stein and Polly Reynolds Allen
- Published in print:
- 1998
- Published Online:
- November 2003
- ISBN:
- 9780198293064
- eISBN:
- 9780191596940
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198293062.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics, International
The NATREX approach offers an alternative paradigm to the Purchasing Power Parity for equilibrium real exchange rates. NATREX is the acronym for NATural Real EXchange, referring to a medium‐run, ...
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The NATREX approach offers an alternative paradigm to the Purchasing Power Parity for equilibrium real exchange rates. NATREX is the acronym for NATural Real EXchange, referring to a medium‐run, inter‐cyclical equilibrium real exchange rate, determined by real, fundamental factors. Importantly, the NATREX is a moving equilibrium real exchange rate, responding to continual changes in exogenous and endogenous real fundamentals. In a world of high capital mobility, the fundamentals of thrift, productivity, capital intensity, and net debt to foreigners become particularly important, influencing desired long‐term capital flows and altering the equilibrium real exchange rate. The NATREX approach identifies and models the fundamental determinants of equilibrium real exchange rates, consistent with their recent empirical movements in various countries.The NATREX model is a dynamic stock‐flow growth model. The goal of the NATREX approach is primarily empirical – to explain movements of medium‐ to long‐run real exchange rates in terms of the fundamental real variables of thrift and productivity, assuming that real exchange rates do adjust toward their equilibrium level, although with a lag. A family of consistent general equilibrium models – of rational, optimizing behavior, determining medium‐run equilibrium real exchange rates – forms the core of the NATREX approach. These models provide logical economic justifications for the empirical results.Less
The NATREX approach offers an alternative paradigm to the Purchasing Power Parity for equilibrium real exchange rates. NATREX is the acronym for NATural Real EXchange, referring to a medium‐run, inter‐cyclical equilibrium real exchange rate, determined by real, fundamental factors. Importantly, the NATREX is a moving equilibrium real exchange rate, responding to continual changes in exogenous and endogenous real fundamentals. In a world of high capital mobility, the fundamentals of thrift, productivity, capital intensity, and net debt to foreigners become particularly important, influencing desired long‐term capital flows and altering the equilibrium real exchange rate. The NATREX approach identifies and models the fundamental determinants of equilibrium real exchange rates, consistent with their recent empirical movements in various countries.
The NATREX model is a dynamic stock‐flow growth model. The goal of the NATREX approach is primarily empirical – to explain movements of medium‐ to long‐run real exchange rates in terms of the fundamental real variables of thrift and productivity, assuming that real exchange rates do adjust toward their equilibrium level, although with a lag. A family of consistent general equilibrium models – of rational, optimizing behavior, determining medium‐run equilibrium real exchange rates – forms the core of the NATREX approach. These models provide logical economic justifications for the empirical results.
Alfred Greiner and Willi Semmler
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195328233
- eISBN:
- 9780199869985
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195328233.003.0007
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter presents some concluding remarks about the economic models presented in Chapters 2 to 5. An endogenous growth model was presented with public capital and pollution. The uniqueness of ...
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This chapter presents some concluding remarks about the economic models presented in Chapters 2 to 5. An endogenous growth model was presented with public capital and pollution. The uniqueness of this approach compared to the literature on environmental pollution and endogenous growth is the assumption that pollution only affects the utility of the household and not production possibilities directly. Analyses of the model demonstrated the effects of fiscal policy on the long-run balanced growth rate. Variations in both the income tax rate and the pollution tax rate were also shown to have either positive or negative growth effects.Less
This chapter presents some concluding remarks about the economic models presented in Chapters 2 to 5. An endogenous growth model was presented with public capital and pollution. The uniqueness of this approach compared to the literature on environmental pollution and endogenous growth is the assumption that pollution only affects the utility of the household and not production possibilities directly. Analyses of the model demonstrated the effects of fiscal policy on the long-run balanced growth rate. Variations in both the income tax rate and the pollution tax rate were also shown to have either positive or negative growth effects.
W. M. Gorman
C. Blackorby and A. F. Shorrocks (eds)
- Published in print:
- 1996
- Published Online:
- November 2003
- ISBN:
- 9780198285212
- eISBN:
- 9780191596322
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198285213.001.0001
- Subject:
- Economics and Finance, Microeconomics
W. M. (Terence) Gorman has been a major figure in the development of economics during the past 40 years. His publications on separability, aggregation, duality, and the modelling of consumer demand ...
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W. M. (Terence) Gorman has been a major figure in the development of economics during the past 40 years. His publications on separability, aggregation, duality, and the modelling of consumer demand are recognized as fundamental contributions to economic theory. Many of his unpublished papers have achieved similar status as privately circulated classics. This volume brings together, for the first time, all Gorman's important work on aggregation across commodities and agents, including separability, budgeting, representative agents, and the construction of capital and labour aggregates; much of this has never been published before. The 26 chapters are arranged in two parts: I. Separability and budgeting, and II. Aggregation across agents and firms. Each chapter (except the first) is preceded by an editorial introduction describing its origin and place within the literature, as well as the main results themselves. The book is of interest to academic economists interested in the foundations of consumer and producer theory, and in the interface between microeconomics and macroeconomics. A second volume of works, Modelling and Methodology, covers topics on duality, demand, trade, and welfare.Less
W. M. (Terence) Gorman has been a major figure in the development of economics during the past 40 years. His publications on separability, aggregation, duality, and the modelling of consumer demand are recognized as fundamental contributions to economic theory. Many of his unpublished papers have achieved similar status as privately circulated classics. This volume brings together, for the first time, all Gorman's important work on aggregation across commodities and agents, including separability, budgeting, representative agents, and the construction of capital and labour aggregates; much of this has never been published before. The 26 chapters are arranged in two parts: I. Separability and budgeting, and II. Aggregation across agents and firms. Each chapter (except the first) is preceded by an editorial introduction describing its origin and place within the literature, as well as the main results themselves. The book is of interest to academic economists interested in the foundations of consumer and producer theory, and in the interface between microeconomics and macroeconomics. A second volume of works, Modelling and Methodology, covers topics on duality, demand, trade, and welfare.
Eric Lesser and Lawrence Prusak (eds)
- Published in print:
- 2004
- Published Online:
- October 2005
- ISBN:
- 9780195165128
- eISBN:
- 9780199835751
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195165128.001.0001
- Subject:
- Economics and Finance, Financial Economics
The mid-1990s saw the rise of an important movement: a recognition that organizational knowledge, in its various forms and attributes, could be an important source of competitive advantage in the ...
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The mid-1990s saw the rise of an important movement: a recognition that organizational knowledge, in its various forms and attributes, could be an important source of competitive advantage in the marketplace. Knowledge management has become one of the core competencies in today's competitive environment, where so much value in companies resides in their people, systems, and processes. This book examines a variety of important knowledge-related topics, some of which has been previously published in such journals as the Harvard Business Review, California Management Review, and the Sloan Management Review, such as the use of informal networks, communities of practice, the impact of knowledge on successful alliances, social capital and trust, narrative and storytelling and the use of human intermediaries in the knowledge management process. The book includes contributions from such leading thinkers as Lawrence Prusak, Dorothy Leonard, Eric Lesser, Rob Cross, and David Snowden. This book synthesizes some of the best thinking by the IBM Institute for Knowledge-Based Organizations, a think tank whose research agenda focuses on the management methods for deriving tangible business value from knowledge management and their real-world application.Less
The mid-1990s saw the rise of an important movement: a recognition that organizational knowledge, in its various forms and attributes, could be an important source of competitive advantage in the marketplace. Knowledge management has become one of the core competencies in today's competitive environment, where so much value in companies resides in their people, systems, and processes. This book examines a variety of important knowledge-related topics, some of which has been previously published in such journals as the Harvard Business Review, California Management Review, and the Sloan Management Review, such as the use of informal networks, communities of practice, the impact of knowledge on successful alliances, social capital and trust, narrative and storytelling and the use of human intermediaries in the knowledge management process. The book includes contributions from such leading thinkers as Lawrence Prusak, Dorothy Leonard, Eric Lesser, Rob Cross, and David Snowden. This book synthesizes some of the best thinking by the IBM Institute for Knowledge-Based Organizations, a think tank whose research agenda focuses on the management methods for deriving tangible business value from knowledge management and their real-world application.
Tod Chambers
David E. Guinn (ed.)
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780195178739
- eISBN:
- 9780199784943
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195178734.003.0005
- Subject:
- Religion, Philosophy of Religion
Linguistic capital is what is at issue when we ask who can speak for a religion. But asking who has the linguistic capital to speak for a religious community in public policy forums is different from ...
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Linguistic capital is what is at issue when we ask who can speak for a religion. But asking who has the linguistic capital to speak for a religious community in public policy forums is different from asking who has linguistic capital within the religious community. The first question forces us to examine the acquisition of linguistic capital in three separate — yet overlapping — fields of social discourse: academia, religion, and government. Each of these requires distinctive ways of earning the necessary social capital to be authorized to speak. The issue of who has the status to speak for a religion in a political forum is essentially a question of what types of linguistic capital gained in one field are deemed legal tender within another field.Less
Linguistic capital is what is at issue when we ask who can speak for a religion. But asking who has the linguistic capital to speak for a religious community in public policy forums is different from asking who has linguistic capital within the religious community. The first question forces us to examine the acquisition of linguistic capital in three separate — yet overlapping — fields of social discourse: academia, religion, and government. Each of these requires distinctive ways of earning the necessary social capital to be authorized to speak. The issue of who has the status to speak for a religion in a political forum is essentially a question of what types of linguistic capital gained in one field are deemed legal tender within another field.
Christopher Balding
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199842902
- eISBN:
- 9780199932498
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199842902.001.0001
- Subject:
- Economics and Finance, Financial Economics
Sovereign wealth funds are a dynamic and sizeable force in international finance. There is surprisingly little information about their history, economics, investments, and politics. This book seeks ...
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Sovereign wealth funds are a dynamic and sizeable force in international finance. There is surprisingly little information about their history, economics, investments, and politics. This book seeks to provide a better understanding of sovereign wealth funds beginning with their history and their evolution from small stabilization funds into major institutional investors. Then the book turns to the economics and finance of sovereign wealth funds seeking to understand the unique challenges facing states that establish sovereign wealth funds and how well they accomplish their task of stabilizing small oil dependent states and managing surplus capital reserves. Despite the focus on the potential for sovereign wealth funds to leverage their financial capital into foreign policy influence, the political ramifications of concentrated public wealth is demonstrated through distorted local economies and stunted domestic politics. Using a variety of case studies from major and unique sovereign wealth fund states coupled with an analysis of their historical, economic, and financial framework, this books lays out a framework of the challenges facing sovereign wealth funds and their founding states.Less
Sovereign wealth funds are a dynamic and sizeable force in international finance. There is surprisingly little information about their history, economics, investments, and politics. This book seeks to provide a better understanding of sovereign wealth funds beginning with their history and their evolution from small stabilization funds into major institutional investors. Then the book turns to the economics and finance of sovereign wealth funds seeking to understand the unique challenges facing states that establish sovereign wealth funds and how well they accomplish their task of stabilizing small oil dependent states and managing surplus capital reserves. Despite the focus on the potential for sovereign wealth funds to leverage their financial capital into foreign policy influence, the political ramifications of concentrated public wealth is demonstrated through distorted local economies and stunted domestic politics. Using a variety of case studies from major and unique sovereign wealth fund states coupled with an analysis of their historical, economic, and financial framework, this books lays out a framework of the challenges facing sovereign wealth funds and their founding states.
Steffen Hindelang
- Published in print:
- 2009
- Published Online:
- September 2009
- ISBN:
- 9780199572656
- eISBN:
- 9780191705540
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199572656.001.0001
- Subject:
- Law, EU Law
The book presents a coherent doctrinal construction of the EC Treaty provisions on free movement of capital in a third-country context with a focus on direct investment. The respective regime ...
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The book presents a coherent doctrinal construction of the EC Treaty provisions on free movement of capital in a third-country context with a focus on direct investment. The respective regime applicable to intra-Community capital movement serves as a point of reference and a benchmark and, thus, is also part of a substantial review. The central question of the study is: What rights does a private market participant, engaged in cross border direct investment originating from or directed to a non EC Member State, enjoy by virtue of Article 56 EC et seqq.? The book argues that in principle, the provisions on free movement of capital apply the same liberal standards irrespective of whether intra-Community or third country direct investment is involved. Hence, those who participate in third country direct investment enjoy essentially the same guarantees by virtue of the provisions on free movement of capital as those active in intra-Community direct investment. The book's subject matter is highly topical and of considerable relevance. Currently, neo protectionist ideas are on the rise within the Member States of the EC. The Member States face considerable problems in acclimating themselves to increasing inward direct investment originating from developing and emerging market countries. Scepticism increases, at times bordering on irrational blunt hostility, if an investment is placed by a so called sovereign wealth fund headquartered in an emerging market. Political opinion after a very emotional debate has been strong enough that some Member States have started tightening their regulatory framework on foreign direct investment. However, such protectionist regulatory measures restricting the admission and treatment of foreign direct investment cannot be imposed ad libitum. They must be measured against the freedom of capital movement.Less
The book presents a coherent doctrinal construction of the EC Treaty provisions on free movement of capital in a third-country context with a focus on direct investment. The respective regime applicable to intra-Community capital movement serves as a point of reference and a benchmark and, thus, is also part of a substantial review. The central question of the study is: What rights does a private market participant, engaged in cross border direct investment originating from or directed to a non EC Member State, enjoy by virtue of Article 56 EC et seqq.? The book argues that in principle, the provisions on free movement of capital apply the same liberal standards irrespective of whether intra-Community or third country direct investment is involved. Hence, those who participate in third country direct investment enjoy essentially the same guarantees by virtue of the provisions on free movement of capital as those active in intra-Community direct investment. The book's subject matter is highly topical and of considerable relevance. Currently, neo protectionist ideas are on the rise within the Member States of the EC. The Member States face considerable problems in acclimating themselves to increasing inward direct investment originating from developing and emerging market countries. Scepticism increases, at times bordering on irrational blunt hostility, if an investment is placed by a so called sovereign wealth fund headquartered in an emerging market. Political opinion after a very emotional debate has been strong enough that some Member States have started tightening their regulatory framework on foreign direct investment. However, such protectionist regulatory measures restricting the admission and treatment of foreign direct investment cannot be imposed ad libitum. They must be measured against the freedom of capital movement.
