- xiii, 556 pages : black and white illustrations ; 24 cm
- Additional Authors
- Guzman, Martin,
- Contents: Introduction / Martin Guzman -- Inequality -- A firm-level perspective on the role of rents in the rise in inequality / Jason Furman and Peter Orszag -- Parents, children, and luck : equality of opportunity and equality of outcome / Ravi Kanbur -- The middle muddle : conceptualizing and measuring the global middle class / Arun Jayadev, Rahul Lahoti, and Sanjay Reddy -- Microeconomics -- Companies are seldom as good or as bad as they seem at the time / Gary Smith -- What's so special about two-sided markets? / Benjamin E. Hermalin and Michael L. Katz -- Missing money and missing markets : application to electricity markets / David Newbery -- Macroeconomics -- Thoughts on DSGE macroeconomics : matching the moment, but missing the point? / Anton Korinek -- The "Schumpeterian" and the "Keynesian" Stiglitz : learning, coordination hurdles, and growth trajectories / Giovanni Dosi and Maria Enrica Virgillito -- Deleterious effects of sustained deficit spending / Edmund Phelps -- The rediscovery of financial market imperfections / John C. Williams -- Ambiguity and international risk-sharing / Brian Hill and Tomasz Michalski -- Networks -- Use and abuse of network effects / Hal Varian -- Financial contagion revisited / Franklin Allen and Douglas Gale -- The economics of information and financial networks / Stefano Battiston -- Development -- Joseph Stiglitz and China's transition success / Justin Yifu Lin -- The sources of Chinese economic growth since 1978 / Lawrence J. Lau -- Knowledge as a global common and the crisis of the learning economy / Ugo Pagano -- Law and economics -- Conservatism and switcher's curse / Aaron Edlin -- The "inner logic" of institutional evolution : towards a theory of the relationship between formal and informal law / Antara Haldar -- Public policies -- Joe stiglitz and representative and equitable global governance / Jos? Antonio Ocampo -- The ghost budget: how America hid the cost of the wars in Iraq and Afghanistan / Linda J. Bilmes -- It works in practice, but would it work in theory? : Joseph Stiglitz's contribution to our understanding of income contingent loans / Bruce Chapman -- The public economics of long-term care / Pierre Piesteau and Gregory Ponthiere -- Jomo E. Stiglitz : Kenya's first nobel laureate in economics / Celestin Monga -- List of contributors -- Index.Includes bibliographical references and index.Summary: This collection of essays reflects how modern economics has been shaped by Joseph Stiglitz, one of the world's greatest economists. The contributions to this volume, all penned by high-profile authors who have been guided by or collaborated with Stiglitz over the last five decades, span microeconomics, macroeconomics, inequality, development, law and economics, and public policy, touching on many of the central debates and discoveries of the field and providing insights on the directions that academic economics could take in the future.