Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The success of development programs, including water resource projects, depends on two key factors: the role of underlying institutions and the impact synergies from other closely related programs. Existing methodologies have limitations in accounting for these critical factors. This paper fills this gap by developing a methodology, which quantifies both the roles that institutions play in impact generation and the extent of impact synergies that flows from closely related programs within a unified framework. The methodology is applied to the Kala Oya Basin in Sri Lanka in order to evaluate the impacts of three water-related programs and the roles of 11 institutions in the context of food security. The results provide considerable insights on the relative role of institutions and the flow of development synergies both within and across different impact pathways. The methodology can also be used to locate slack in impact chains and identify policy options to enhance the impact flows.

Agriculture --- Climate Change --- Development policy --- E-Business --- Econometric Analysis --- Econometric models --- Economic implications --- Economic Theory and Research --- Environment --- Equations --- Externalities --- Food and Beverage Industry --- Industry --- Macroeconomics and Economic Growth --- Political economy --- Poverty Reduction --- Private Sector Development --- Rural Development --- Rural Poverty Reduction --- Trade policy --- Utility maximization

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

"The concept of general equilibrium, one of the central components of economic theory, explains the behavior of supply, demand, and prices by showing that supply and demand exist in balance through pricing mechanisms. The mathematical tools and properties for this theory have developed over time to accommodate and incorporate developments in economic theory, from multiple markets and economic agents to theories of production.Yves Balasko offers an extensive, up-to-date look at the standard theory of general equilibrium, to which he has been a major contributor. This book explains how the equilibrium manifold approach can be usefully applied to the general equilibrium model, from basic consumer theory and exchange economies to models with private ownership of production. Balasko examines properties of the standard general equilibrium model that are beyond traditional existence and optimality. He applies the theory of smooth manifolds and mappings to the multiplicity of equilibrium solutions and related discontinuities of market prices. The economic concepts and differential topology methods presented in this book are accessible, clear, and relevant, and no prior knowledge of economic theory is necessary.The General Equilibrium Theory of Value offers a comprehensive foundation for the most current models of economic theory and is ideally suited for graduate economics students, advanced undergraduates in mathematics, and researchers in the field"--

Microeconomics --- Value --- Equilibrium (Economics) --- AA / International- internationaal --- 330.01 --- 380.1 --- Theorie van het economisch evenwicht. --- Waardeleer. --- Standard of value --- Cost --- Economics --- Exchange --- Wealth --- Prices --- Supply and demand --- DGE (Economics) --- Disequilibrium (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- SDGE (Economic theory) --- Statics and dynamics (Social sciences) --- Theorie van het economisch evenwicht --- Waardeleer --- E-books --- Value. --- Jacobian matrix. --- Slutsky matrices. --- Walras law. --- aggregate excess demand. --- budget constraint. --- classical consumer theory. --- competitive markets. --- constant returns. --- constrained utility maximization. --- consumer demand. --- consumer preferences. --- consumer theory. --- consumers. --- consumption. --- decreasing returns. --- demand functions. --- demand. --- economic agents. --- economic theory. --- economy. --- equilibrium manifold. --- equilibrium solutions. --- exchange model. --- firm. --- firms. --- general equilibrium model. --- general equilibrium models. --- general equilibrium. --- global coordinate system. --- linear spaces. --- maximization. --- modern economies. --- natural projection. --- net supply correspondence. --- no-trade equilibria. --- no-trade equilibrium. --- prices. --- pricing mechanisms. --- private owership. --- private ownership. --- privately owned firms. --- production set. --- production. --- profits. --- properness. --- regular economies. --- revealed preferences. --- scale firms. --- scale forms. --- smooth manifold. --- smooth manifolds. --- smooth production. --- standard model. --- supply functions. --- supply. --- utility functions. --- utility maximization.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

What is the welfare effect of a price change? This simple question is one of the most relevant and controversial questions in microeconomic theory and its different answers can lead to severe heterogeneity in empirical results. This paper returns to this question with the objective of providing a general framework for the use of theoretical contributions in empirical works, with a particular focus on poor people and poor countries. Welfare measures (such as Equivalent Variation or Consumer's Surplus) and computational methods (such as Taylor's approximations or the Vartia method) are compared to test how these choices result in different welfare measurement under different price shock scenarios. As a rule of thumb and irrespective of parameter choices, welfare measures converge to approximately the same result for price changes below 10 percent. Above this threshold, these measures start to diverge significantly. Budget shares play an important role in explaining such divergence, whereas the choice of demand system has a minor role. Under standard utility assumptions, the Laspeyers and Paasche variations are always the outer bounds of welfare estimates and consumer surplus is always the median estimate. The paper also introduces a new simple welfare approximation, clarifies the relation between Taylor's approximations and the income and substitution effects, and provides an example for treating nonlinear pricing. Stata codes for all computations are provided in annex.

Access to Markets --- Agriculture --- Choice --- Consumer Demand --- Consumer Preferences --- Consumer Surplus --- Consumers --- Consumption --- Cost of Living --- Data --- Demand --- Demand Curves --- Demand Function --- Developing Countries --- Distribution --- E-Business --- Econometrics --- Economic Research --- Economic Theory & Research --- Economics Literature --- Elasticity --- Electricity --- Emerging Markets --- Engel Curve --- Equity --- Exchange --- Expenditure --- Food Price --- Free Market --- Government Revenues --- Income --- Income Effects --- Index Numbers --- Information --- Interest --- International Economics & Trade --- Lorenz Curve --- Macroeconomics and Economic Growth --- Market Prices --- Markets & Market Access --- Money --- Nominal Income --- Normal Good --- Open Access --- Outputs --- Particular Country --- PC --- Price --- Price Adjustments --- Price Change --- Price Decreases --- Price Elasticity --- Price Increases --- Price Schedule --- Price Structure --- Price Variation --- Price_Index --- Pricing --- Private Sector Development --- Product --- Productivity --- Real Income --- Reliability --- Results --- Sales --- Savings --- Subsidies --- Substitute --- Substitute Goods --- Substitution --- Surplus --- Tax --- Tax Systems --- Transactions --- Utility --- Utility Function --- Utility Maximization --- Value --- Variables --- Wages --- Web --- Welfare --- Welfare Economics

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

What is the welfare effect of a price change? This simple question is one of the most relevant and controversial questions in microeconomic theory and its different answers can lead to severe heterogeneity in empirical results. This paper returns to this question with the objective of providing a general framework for the use of theoretical contributions in empirical works, with a particular focus on poor people and poor countries. Welfare measures (such as Equivalent Variation or Consumer's Surplus) and computational methods (such as Taylor's approximations or the Vartia method) are compared to test how these choices result in different welfare measurement under different price shock scenarios. As a rule of thumb and irrespective of parameter choices, welfare measures converge to approximately the same result for price changes below 10 percent. Above this threshold, these measures start to diverge significantly. Budget shares play an important role in explaining such divergence, whereas the choice of demand system has a minor role. Under standard utility assumptions, the Laspeyers and Paasche variations are always the outer bounds of welfare estimates and consumer surplus is always the median estimate. The paper also introduces a new simple welfare approximation, clarifies the relation between Taylor's approximations and the income and substitution effects, and provides an example for treating nonlinear pricing. Stata codes for all computations are provided in annex.

Access to Markets --- Agriculture --- Choice --- Consumer Demand --- Consumer Preferences --- Consumer Surplus --- Consumers --- Consumption --- Cost of Living --- Data --- Demand --- Demand Curves --- Demand Function --- Developing Countries --- Distribution --- E-Business --- Econometrics --- Economic Research --- Economic Theory & Research --- Economics Literature --- Elasticity --- Electricity --- Emerging Markets --- Engel Curve --- Equity --- Exchange --- Expenditure --- Food Price --- Free Market --- Government Revenues --- Income --- Income Effects --- Index Numbers --- Information --- Interest --- International Economics & Trade --- Lorenz Curve --- Macroeconomics and Economic Growth --- Market Prices --- Markets & Market Access --- Money --- Nominal Income --- Normal Good --- Open Access --- Outputs --- Particular Country --- PC --- Price --- Price Adjustments --- Price Change --- Price Decreases --- Price Elasticity --- Price Increases --- Price Schedule --- Price Structure --- Price Variation --- Price_Index --- Pricing --- Private Sector Development --- Product --- Productivity --- Real Income --- Reliability --- Results --- Sales --- Savings --- Subsidies --- Substitute --- Substitute Goods --- Substitution --- Surplus --- Tax --- Tax Systems --- Transactions --- Utility --- Utility Function --- Utility Maximization --- Value --- Variables --- Wages --- Web --- Welfare --- Welfare Economics

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Written by one of the leading experts in the field, this book focuses on the interplay between model specification, data collection, and econometric testing of dynamic asset pricing models. The first several chapters provide an in-depth treatment of the econometric methods used in analyzing financial time-series models. The remainder explores the goodness-of-fit of preference-based and no-arbitrage models of equity returns and the term structure of interest rates; equity and fixed-income derivatives prices; and the prices of defaultable securities. Singleton addresses the restrictions on t

Capital assets pricing model. --- Pricing --- Econometric models. --- Arbitrage. --- Asymptotic distribution. --- Autocorrelation. --- Autocovariance. --- Autoregressive conditional heteroskedasticity. --- Bayesian inference. --- Bayesian probability. --- Bond Yield. --- Capital asset pricing model. --- Central limit theorem. --- Collateral Value. --- Conditional expectation. --- Conditional probability distribution. --- Conditional variance. --- Consistent estimator. --- Correlation and dependence. --- Covariance function. --- Covariance matrix. --- Credit risk. --- Credit spread (options). --- Discount function. --- Discrete time and continuous time. --- Doubly stochastic model. --- Dynamic pricing. --- Econometric model. --- Economic equilibrium. --- Economics. --- Equity premium puzzle. --- Ergodic process. --- Estimation theory. --- Estimation. --- Estimator. --- Expectations hypothesis. --- Expected value. --- Forecasting. --- Forward price. --- Forward rate. --- General equilibrium theory. --- Generalized method of moments. --- High-yield debt. --- Inference. --- Interest rate risk. --- Interest rate. --- Investment Horizon. --- Investment strategy. --- Investor. --- Joint probability distribution. --- LIBOR market model. --- Leverage (finance). --- Likelihood function. --- Liquidity premium. --- Liquidity risk. --- Margin (finance). --- Marginal rate of substitution. --- Marginal utility. --- Market Risk Premium. --- Market capitalization. --- Market liquidity. --- Market portfolio. --- Market price. --- Market value. --- Markov model. --- Markov process. --- Mathematical finance. --- Monetary policy. --- Objective Probability. --- Option (finance). --- Parameter. --- Partial equilibrium. --- Portfolio insurance. --- Precautionary savings. --- Predictability. --- Preference (economics). --- Present value. --- Price index. --- Pricing. --- Principal component analysis. --- Probability. --- Real interest rate. --- Repurchase agreement. --- Revaluation of fixed assets. --- Risk aversion. --- Risk management. --- Risk premium. --- Skewness. --- Special case. --- Standard deviation. --- State variable. --- Statistic. --- Stochastic differential equation. --- Stochastic volatility. --- Supply (economics). --- Time series. --- Underlying Security. --- Utility maximization problem. --- Utility. --- Variable (mathematics). --- Vector autoregression. --- Yield curve. --- Yield spread.