This Research Review presents forty-six of the most important and influential journal articles by some of the leading scholars in the field and addresses some of the most problematic issues concerning the sustainability of the world economy. Subjects included are: an introduction to the economics of nonrenewable resources; theoretical foundations for the field; nonhomogeneous resources; exploration and uncertainty; market structure; taxation and global climate change. The collection concludes with a discussion of the empirical research and the extent to which nonrenewable resources constrain economic growth as well as the consistency of the theoretical predictions of Hotelling-type models with actual economic outcomes. With an original introduction by the editor, this collection will be an important resource for students, academics and practitioners.
Torben G. Andersen and Tim Bollerslev
Volatility ranks among the most active and successful areas of research in econometrics and empirical asset pricing finance over the past three decades. This Research Review comprises some of the most influential published works from this burgeoning literature, both classic and contemporary. Topics covered include GARCH, stochastic and multivariate volatility models as well as forecasting, evaluation and high-frequency data. Together with an original introduction by the editors, this definitive compilation presents the most important milestones and contributions that helped pave the way to today’s understanding of volatility.
This Research Review presents a compilation of key papers chronicling the evolution of the economics of information into the economics of knowledge. It traces the unfolding of the fertile ambiguity and ambivalence of the notion of information with the identification and eventual separation of its two basic, quite distinct meanings: knowledge and signals. It documents the progressive understanding that it is not only necessary to search, screen and understand signals, but also to assess and select them so as to distinguish between true, false and fake ones. The capability to process signals and transform them into actual information stems from the stock of competence and knowledge that individuals and organizations possess and mobilize. Together with an original introduction by the editor, this collection will be an indispensable research tool for economists and scholars alike.