Abstract The Real Business Cycle (RBC) research program has grown specularly over the
last decade, as its concepts and methods have diffused into mainstream macroeconomics …

This chapter surveys research on agent-based models used in finance. It will concentrate on
models where the use of computational tools is critical for the process of crafting models …

This lecture focuses on the costs of public debt when safe interest rates are low. I develop
four main arguments. First, I show that the current US situation, in which safe interest rates …

This profound book is a powerful yet balanced critique of mainstream economics that makes
a forceful plea for taking economics out of its secular and occident-centred cocoon. It …

Human well-being relies critically on ecosystem services provided by nature. Examples
include water and air quality regulation, nutrient cycling and decomposition, plant pollination …

This book is an ambitious effort by three well-known and well-respected scholars to fill an
acknowledged void in the literature—a text covering the burgeoning field of empirical …

Restrictions that a class of general equilibrium models place upon the average returns of
equity and Treasury bills are found to be strongly violated by the US data in the 1889–1978 …

The basic paradigm of asset pricing is in vibrant flux. The purely rational approach is being
subsumed by a broader approach based upon the psychology of investors. In this approach …

Abstract Shareholders of a Regional Bell Operating Company (RBOC) tend to live in the
area which it serves, and an RBOC's customers tend to hold its shares rather than other …

We study asset prices in an economy where investors derive direct utility not only from
consumption but also from fluctuations in the value of their financial wealth. They are loss …