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AbstractIn this article, we examine the effects of economic policy uncertainty (EPU) on insider trading. Two hypotheses predict that EPU is positively related to insider trading volume and profitability: (1) the private benefits hypothesis, which states that insiders exploit their information advantage to realize abnormal profits, and (2) the signaling hypothesis, which states that insiders trade to signal private information to stock market participants. We find that EPU is positively and significantly related to the profitability of insider purchases, and that insiders purchase more frequently during high‐EPU periods. Additional analysis provides strong support for the signaling hypothesis but no support for the private benefits hypothesis.

The hypothesis presented is that the ideological radicalization of the Cuban Revolution (which gained momentum in 1966 & reached a climax in 1968 with the so-called Revolutionary Offensive) has negatively affected economic performance, growth, & popular support. These phenomena may in turn halt or reverse the process of radicalization. Data come from Cuban statistics, legislation, speeches of the political leaders, radio broadcasts, newspapers, & articles in technical journals. Quantification is prevalent in measuring the economic performance while qualitative interpretation is mainly used when evaluating the radicalization process. In trying to predict the feasibility of the Cuban model, comparisons are made with some antecedents such as "War Communism" in the USSR, the "Great Leap Forward" & the "Great Proletarian Cultural Revolution" in China. The hypothesis is tentatively accepted, although additional data & time are necessary to draw more solid conclusions. The radicalization process seems to have induced a decline in sugar production, nonsugar agriculture, & mining (except nickel) output, & GNP in both absolute figures & per capita. Domestically, this has forced an expansion of rationing & mass mobilization for productive activities. Externally it has resulted in a widening deficit in the balance of trade. There are also signs of deterioration in the political consensus. Although the Cuban blueprint for the future society & "New Man" is very appealing to the sociologist, there are serious doubts whether the economic performance of the nation will permit the continuation of the process. Modified AA.

This book assesses the distributional impact of a number of economic policies on the distribution of income by examining several examples from Colombia. It provides a better base for quantitative comparisons of the effects of different policies.

No one in England would claim that the radical readjustments of the national economy necessitated by the Second World War had yet been completed. Nevertheless, it is undoubtedly true that much progress has been made, in many ways even beyond the pre-war level of attainment, since the fighting came to an end; and certainly the past five and a half years have been a period of intense activity, aimed perhaps not so much at reconstruction of a former economic system but rather at building a structure which should be more in accord with popular aspirations than the kind of economy that prevailed before the war.This interpretation of fundamental objectives is supported by a quick review of the tasks confronting Great Britain as she emerged from the war. First, and of immediate concern, was the delicate process of transition to a peace economy, involving the innumerable interlocking problems of switching manpower and physical resources back from war service to the purposes of a more peaceable way of life. Then there were more deep-seated problems to be faced, such as the replacement of physical assets, both social and economic, destroyed during the war or rendered obsolescent while the economic system had been concentrated upon the overriding purposes of war production. Along with these went a whole network of complicated problems of monetary reorganization, arising largely from the facts that in process of financing war requirements Britain's international position had been dramatically changed, from the status of a creditor country to that of a debtor, that her international reserves had been heavily reduced, and that her export trade had been ruthlessly sacrificed as part of the larger strategy of war. Finally, and underlying all these, was the widespread demand for the establishment of an economic system which should serve the needs of the people more effectively and more equitably than in times past, above all, one which should guarantee to every willing and competent citizen the continuous opportunity of remunerative employment. Naturally, there was wide disagreement about the best means of securing all these ends; but the ends themselves were generally accepted as necessary and worthy objectives.

Intro -- Ludwig von Mises, Economic Policy -- Front Matter -- Title Page -- Copyright Details -- Table of Contenst, p. vii -- Introduction, p. ix -- Foreword, p. xiii -- Economic Policy -- First Lecture. Capitalism, p. 1 -- Second Lecture. Socialism, p. 12 -- Third Lecture. Interventionism, p. 27 -- Fourth Lecture. Inflation, p. 40 -- Fifth Lecture. Foreign Investment, p. 54 -- Sixth Lecture. Politics and Ideas, p. 66 -- Index, p. 77.

We analyse a game theoretical model in which policy makers have superior knowledge about the working of the economy relative to voters. We show that parties increase their chances of reelection by basing their policies on the model that best fits in with their preferences. Moreover, we show that if parties care much about holding office, they may deliberately base their policies on a model that is electorally attractive, even if this model does not describe the working of the economy correctly. Our paper provides an explanation for the observation that different political parties subscribe to different economic philosophies.

The energy sector enables us to do business, manufacture products as well as enjoy a better quality of life. However, our current energy system depends heavily on fossil fuels. Currently 85 % of the world energy consumption stems from fossil fuel sources, which bring two main challenges: the limitation of resources and emissions of green house gases. From an economic perspective, a decline in the supply and non-decreasing consumption will lead to an increase in energy prices. Such an increase should lead to an increase in efficiency and a shift to alternative technologies, such as renewable energies. The first part of this dissertation tries to explore the energy market mechanism and answer the question whether energy prices lead to an improvement in efficiency levels as well as an increase in innovation activities for renewable energies. Evidence is found, supporting the theory that energy markets are shifting toward more carbon free technologies. The second part of the dissertations takes up the empirical findings, asking about the inhibiting determinants which accelerate the speed of technical and structural change toward a renewable era. Usually the political agenda is set in advance, but it can be still alternated in the case of two events: cases of natural disasters and intensive media coverage. Results show that accidents, such as nuclear reactor accidents, can highlight the risks of nuclear technologies and lead political leaders to support renewable energy with adequate policies. Additionally, mass media can impact the political agenda setting and promote more supportive policies for renewable energies. ; Der Energiesektor ermöglicht es uns, Geschäfte zu machen, Produkte herzustellen und eine bessere Lebensqualität zu genießen. Unser derzeitiges Energiesystem hängt jedoch stark von fossilen Brennstoffen ab. Derzeit stammen 85 % des weltweiten Energieverbrauchs aus fossilen Brennstoffen, was zwei große Herausforderungen mit sich bringt. Die Begrenzung von Ressourcen und Emissionen von Treibhausgasen. Aus wirtschaftlicher Sicht sollen ein Rückgang des Angebots und ein nicht abnehmender Verbrauch zu einem Anstieg der Energiepreise führen. Eine solche Erhöhung sollte zu einer Effizienzsteigerung und einer Umstellung auf alternative Technologien, wie beispielsweise erneuerbare Energien, führen. Der erste Teil dieser Dissertation versucht, den Energiemarktmechanismus zu erforschen und die Frage zu beantworten, ob die Energiepreise zu einer Verbesserung der Effizienz sowie zu einer Steigerung der Innovationsaktivitäten bei erneuerbaren Energien führen. Es werden Beweise gefunden, die die Theorie stützen, dass sich die Energiemärkte in Richtung kohlenstofffreier Technologien verschieben. Der zweite Teil der Dissertationen greift die empirischen Ergebnisse auf und fragt nach den hemmenden Determinanten, die die Geschwindigkeit des technischen und strukturellen Wandels in Richtung einer erneuerbaren Ära beschleunigen. In der Regel wird die politische Agenda im Voraus festgelegt, kann aber bei zwei Ereignissen noch abgeändert werden: bei Naturkatastrophen und intensiver Medienberichterstattung. Die Ergebnisse zeigen, dass Unfälle, wie z.B. Unfälle in Kernreaktoren, den Nutzen für erneuerbare Energien verdeutlichen können. Darüber hinaus können Massenmedien die Festlegung der politischen Agenda beeinflussen und zu einer unterstützenderen Politik für erneuerbare Energien beitragen.

The article shows that the policy of petroleum export limitation can be considered as a certain alternative of the macroeconomic policy of money supply sterilization. The "interests' compromise" method is proposed. It allows compensating petroleum companies losses emerging due to export limitation. The evaluation of positive and negative consequences of the proposed alternative is presented. It is argued that this alternative can be used in case of the abrupt growth of the world petroleum prices.

Abstract
Over the past forty years, stock exchanges have undergone a number of transformations (legal, organizational and technological). They resulted both from general external conditions (including technological progress) as well as were the expression of various economic (structural) policies. Two of which seem to be basic. The first implemented in France, based on optimal centralization of stock exchange trading. The second one, implemented in Germany and Spain, expressing the concept of a complementary and effective combination of the potentials of the main trading floor and regional exchanges. Promisingly, especially in this latter dimension of experience together with the Edinburgh 'stock market experiment' that has just begun, they may reveal yet another not yet fully recognized characteristics of the stock market - the institutional exemplification of the market economy.

The political decisions made by the founding fathers were crucial to the success of the early republic. But the economic decisions they made were just as pivotal, ensuring the general welfare and common defense of the United States for decades to come. Founding Choices explores these economic choices and their profound influence on American life, westward expansion, and influence abroad. Among the topics covered are finance, trade, and monetary and banking policy, with a focus on the factors guiding those policies and their end result. This book redresses the relative neglect of the economic achievements of the founders. It will be essential reading for historians and economists alike.