From tools to theories: The emergence of modern financial economics

It is shown that early research in modern financial economics had substantially been driven by the application of the research strategy of economics and the use of newly developed mathematical methods. For this purpose the professionalization of business education as a consequence of changes in the U.S. economy after Word War II is presented. The emergence of professional Journals in financial economics, similar to the academic culture including the trend of applying abstract mathematical reasoning and during the war developed methods like linear programming are highlighted. Also the meaning of Milton Friedman's 1953 essay The Methodology of Positive Economics for the dominance of abstract and prediction driven research in modern financial economics gets discussed. Finally, the emergence of Harry Markowitz's paper Portfolio Selection (1952) is used to substantiate the hypothesis. --history of finance,portfolio theory,business schools,modern financial economics,modelling,theories of modern financial economics,risk management,positivism,professionalization,methodology of finance

Petroleum Industry's Economic Contribution to North Dakota in 2007

Environmental Economics and Policy, Financial Economics, Production Economics,

The conduct of monetary policy in Uganda: an assessment

Money supply, Liquidity, Cash flows, Demand and Price Analysis, Financial Economics, Institutional and Behavioral Economics, International Relations/Trade, Public Economics,

Review of Huerta de Soto´s `Money, Bank Credit, and Economic Cycles´

This article reviews the first English edition of Prof. Jesús Huerta de Soto´s book `Dinero, Crédito Bancario y Ciclos Económicos´ which first appeared in Spain in 1998.Business Cycle Theory; Law and Economics of Money and Banking; Austrian school; new institutional economics; financial markets; history of money; credit and banking; deregulation of financial institutions; economics of transition

Fiscal and trade distorting effects of capital gains tax on land sales - empirical evidence from agricultural land market in Finland

capital gains, taxes, land, trade, fiscal effects, Agricultural Finance, Financial Economics, Land Economics/Use,

Using Land Values to Predict Future Farm Income

land values, almon lag, farm profitability, Agribusiness, Agricultural Finance, Farm Management, Financial Economics, Production Economics,

Optimal Timing of Farmland Investment - An Experimental Study on Farmers' Decision Behavior -

Replaced with revised version of paper 5/26/11.Experimental Economics, Investment, Real Options, Agribusiness, Agricultural Finance, Farm Management, Financial Economics, Institutional and Behavioral Economics, Risk and Uncertainty, C91, D81, D92,

Money: A Market Microstructure Approach

The current discussion about the future of the financial system draws heavily on a set of theories known as the ‘New Monetary Economics’. The New Monetary Economics predicts that deregulation and financial innovation will lead to a moneyless world. This paper uses a market microstructure approach to show that a common medium of exchange that serves as unit of account will remain a necessary instrument to reduce transaction costs. This finding is supported by empirical evidence from foreign exchange markets.New monetary economics, monetary separation, market microstructure theory, monetary theory, moneyless world, financial innovation