Introduction to Dynamic Macroeconomic General Equilibrium Models

José Luis Torres Chacon, Universidad de Málaga, Spain

March 2014 / ISBN: 978-1-62273-007-0
Availability: In stock
282pp. ¦ $55 £40 €50

This book offers an introductory step-by-step course in Dynamic Stochastic General Equilibrium modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of Dynamic General Equilibrium (DGE) models. The book is intended for graduate students as an introductory course to DGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book’s homepage.

The National System of Political Economy

New Edition

Friedrich List

January 2014 / ISBN: 978-1-62273-010-0
Availability: In stock
386pp. ¦ $30 £22 €27

In The National System of Political Economy, List provides a critique of the ideas of Adam Smith and David Ricardo that continues to resonate with policy makers concerned with industrial policy and national economic development. List argues that in contrast with the stylized view of classical economics, real-world economies are organized along national lines and that policy makers can ignore this reality to their peril. The benefits from trade are conditional, rather than universal and the development of sophisticated industry requires carefully designed and sequentially planned state interventions. List provides an early recognition of the existence of distinct stages of economic development, and of the interplay between military power, industrial development and national prosperity. List's work had a formative influence on subsequent strands of thought such as institutional economics and 'national systems of innovation' perspectives and is considered an exemplar of work in the tradition of realist international political economy.

Technological Innovation Index

A novel innovation indicator and its implications for technology evaluation

Freddy Pachys

May 2014 / ISBN: 978-1-62273-008-7
Availability: In stock
164pp. ¦ $45 £34 €40

Not all innovations are equal. Though recent economic literature on the evaluation of technological change acknowledges this reality, actual evaluation methods suffer from numerous limitations. Technological Innovation Index uses patent citation analysis to highlight the enormous variation in the characteristics, importance and evolution of technology over time and outlines a set of sophisticated tools for its analysis. Prominent among them is “Patent Importance Technology Factor” (PITF), an improved algorithm for the calculation of patent impact using citation scores. The usefulness of PITF is illustrated by examining the evolution paths of high-impact innovations. The methods proposed have important implications for the measurement of technological change and would be of interest to a wide range of patent specialists, including economists, technology evaluators, finance and law professionals.

The Great Illusion

A Study of the Relation of Military Power to National Advantage

Norman Angell

December 2014 / ISBN: 978-1-62273-009-4
Availability: In stock
223pp. ¦ $30 £22 €27

International trade and the development of intertwined global markets makes inter-state war less profitable and probable. This is Norman Angell's simple hypothesis, vigorously defended in The Great Illusion and at the root of an enduring controversy, from the time of its initial publication - on the eve of the First World War - to this day. Well documented, logically argued and persuasive, The Great Illusion is a passionate defense of peace, attacking widely held, yet unquestioned assumptions about the gains from war and the costs of conquest.

The Knowledge Plexus

A Systemic View on the Economic Geography of Technological Knowledge

George Chorafakis, University of Barcelona, Spain

March 2015 / ISBN: 978-1-622-73-006-3
Availability: In stock
391pp. ¦ $60 £45 €55

This book is a collection of 5 essays on the economic geography of technological knowledge. Their common threads are: (i) the quest for a new paradigm in economic geography, termed ‘systemic’, as an alternative to the neoclassical, based on the epistemological premise of emergence and the theories of evolution and complexity; and (ii) the intent to explain the process of technological knowledge production as a systemic phenomenon occurring in relational space subject to emergence and co-evolutionary dynamics. In this theoretical framework, the author analyses various European knowledge networks, and examines their effects on the production of technological knowledge as sources of relational cognitive capital and economies of complexity. He then poses a number of questions on the direction and instrumentalities of the European research, technological development and innovation policies, and in particular on the issues of cohesion and dynamic efficiency of the European research system.

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