This chapter presents a critical survey and an interpretation of recent exchange rate research. It focuses on empirical results for exchange rates among major industrialized countries. The expectations of future exchange rate changes are a key determinant of asset demands, and therefore of the...

The book interprets nature and the environment as a scarce resource. It offers a theoretical study of the allocation problem and describes different policy approaches to the environmental problem. The entire spectrum of the allocation issue is studied: The use of the environment in a static...

The book interprets nature and the environment as a scarce resource. It offers a theoretical study of the allocation problem and describes different policy approaches to the environmental problem. The entire spectrum of the allocation issue is studied: The use of the environment in a static...

This book interprets nature and the environment as a scarce resource. It offers a theoretical study of the allocation problem and describes differentpolicy approaches to the environmental problem. The entire spectrum of the allocation issue is studied: the use of the environment in a static...

I Introduction -- 1 The Problem -- 2 Using the Environment—An Allocation Problem -- II Static Allocation Aspect -- 3 Production Theory and Transformation Space -- 4 Optimal Environmental Use -- 5 Environmental Quality as a Public Good -- 6 Property-Rights Approach to the Environmental Problem...