Public utilities supply a set of goods and services that are central to the workings of a modern economy. Their importance in the economy’s structure is matched by the interest and complexity of the problems they present for economic analysis.

The book provides substantial discussion of the model’s methodological background; returns to scale; the transformation surface and the fixed-factor-supply economy; existence, uniqueness, and stability of equilibria; the dynamics of market adjustments; methodological individualism and the theory...

On the premise that pension provision in Europe will dramatically change over the next few decades, this book concentrates on the funded component of pension wealth, and specifically on annuities – financial products that, on the basis of actuarial equivalence, allow the conversion of wealth...

International institutions and formal international organizations lie at the heart of the new global economy. International economic interactions occur within a framework of norms, rules and organizations, and an appreciation of this institutionalization is essential for understanding the...

This book explores the important role that economic performance measurement is playing in the regulation of network utilities in many countries today. The contributors to the book – researchers from academia, regulatory agencies and consulting firms – address the use of efficiency measures...

Introduction to Cost–Benefit Analysis is intended as a graduate and advanced undergraduate textbook. Nevertheless, economists and other practitioners involved in the economic evaluation of projects will also find the book extremely useful.

Monetary Theory and Monetary Policy is the second collection of essays by Karl Brunner – one of the most prominent economists of the twentieth century. It demonstrates the importance of economic analysis for the development of appropriate economic policies.

This authoritative book analyses the recent problems associated with the UK’s monetary system and suggests a long-term solution to control bank lending in the future. It draws on extensive historical material, discussions with former senior officials and politicians, and the perceptive...

Baumol’s Cost Disease is the inevitable escalation of the real costs that occur in labour-intensive industries like the arts, health care and education. The labour costs in these industries tend to increase at the same rate as other industries, but their scope for utilizing labour-saving...