The price adjustment process is crucial to almost any macroeconomic issue. Anderson provides here a comprehensive and unified analysis of why prices may fail to adjust instantly, integrating the existing literature with his own new work on asymmetric information and imperfect competition. This unified treatment will allow readers to understand the mechanisms at work without becoming lost in technical details. This volume covers both real and nominal price ridigidites and integrates existing results from the literature with new results on causes for failures of price adjustment. Andersen's own...

This comprehensive survey of key welfare policy issues, in an age of globalization and ageing populations, draws on comparative OECD data and case studies from Scandinavia. Torben Andersen and Per Molander provide a forceful analysis of the main challenges to the traditional public sector welfare state and explore the principal policy options open to governments in advanced economies. They assess the advantages and disadvantages of alternative welfare regimes with less reliance on public sector involvement.

Growth theory is currently changing directions - the orthodox neoclassical approach is being modified and extended by models of endogenous growth. Along with fresh contributions from the field, this volume provides a survey of the topic.
Endogenous Growth covers aspects such as growth effects of different trade, tax and public investment policies, as well as lobbying activities. Moreover, the relationships between growth, talent and income distribution are explored from different perspectives. The emphasis is on the effects of egalitarianism both within and across generation.

This volume examines the causes of the very volatile financial markets and exchange rate crises recently experienced, particularly in a number of European countries, and considers the implications for business cycle fluctuations and economic policy. It will attempt to clarify whether these developments can be attributed to further capital market liberalization, financial innovations, etc., or whether they are the product of business cycle changes in combination with shifts in the focus of economic policy towards less activism and low inflation. Issues related to the functioning of financial...

This comprehensive survey of key welfare policy issues, in an age of globalization and ageing populations, draws on comparative OECD data and case studies from Scandinavia. Torben Andersen and Per Molander provide a forceful analysis of the main challenges to the traditional public sector welfare state and explore the principal policy options open to governments in advanced economies. They assess the advantages and disadvantages of alternative welfare regimes with less reliance on public sector involvement.