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Foreword; Contents; Acknowledgments; Theory and Practice in a Sensible Economic Policy Mix:A Glance at Willi Semmler' Contributions to EmpiricalMacroeconomics; 1 Teaching; 2 Research; 3 Mentorship; 4 How This Book Is Organized; 5 Final Remarks; Iran's Nuclear Program and the West's Response: A Game Theoretic Approach; 1 Introduction; 2 Review of Iran's Nuclear Program and Sanctions Against Iran; 2.1 Iran's Nuclear Program; 2.2 The History of Sanctions Against Iran; 3 A Game Theoretic Approach; 3.1 Notation and Parameter Values; 4 Solving the Game
5 Extension: Iran's First Step: Nuclear Program or Not6 Conclusions and Policy Implications; Appendix; References; From the Great Divergence to the Great Convergence; 1 Introduction; 2 The Separation of West from the Rest of the World: Forces Facilitating the Great Divergence in the Nineteenth Century; 3 Post-War Golden Era of World Economic Development. The Origins of Convergence Between the Developing and Developed Countries; 3.1 Economic Growth of High-Income Countries; 3.2 Economic Growth of Middle-Income Countries
3.3 The Reasons for the Emergence of New Conditions, Facilitating Rapid Growth of Developing Countries with Low Per Capita Income4 Transition to Fifth BKC and the Start of Real Convergence; 4.1 Developed Economies Shift to Evolutional Development; 4.2 Vanguard Countries of Developing World (BRICS) Perform Breakthrough; 5 Possible Results of the Ongoing Global Convergence; References; Borrowing Constraints and Monetary Policy: The Inflation Tax-Net Worth Channel; 1 Introduction; 2 The Model Set Up; 2.1 The Farmer/Borrower; 2.2 The Gatherer/Lender; 3 Equilibrium; 4 Dynamics
4.1 Steady States and Their Properties4.2 Monetary Policy, Net Worth and the Inflation Tax; 4.3 Is There an Output Maximizing Inflation Rate?; 4.4 Inflation, the Allocation of Land and Social Welfare; 5 The Effects of an Unexpected Productivity Shock; 6 The Effects of an Unexpected Monetary Shock; 7 Conclusions; Appendix 1: The Farmer's Maximization Problem; Appendix 2: The Gatherer's Maximization Problem; References; Modeling Climate Change Effects on Renewable and Non-Renewable Resources; 1 Introduction; 2 Literature Review; 3 Stylized Facts; 4 Theoretical Model; 5 Final Remarks; Appendix
5 Extension: Iran's First Step: Nuclear Program or Not6 Conclusions and Policy Implications; Appendix; References; From the Great Divergence to the Great Convergence; 1 Introduction; 2 The Separation of West from the Rest of the World: Forces Facilitating the Great Divergence in the Nineteenth Century; 3 Post-War Golden Era of World Economic Development. The Origins of Convergence Between the Developing and Developed Countries; 3.1 Economic Growth of High-Income Countries; 3.2 Economic Growth of Middle-Income Countries
3.3 The Reasons for the Emergence of New Conditions, Facilitating Rapid Growth of Developing Countries with Low Per Capita Income4 Transition to Fifth BKC and the Start of Real Convergence; 4.1 Developed Economies Shift to Evolutional Development; 4.2 Vanguard Countries of Developing World (BRICS) Perform Breakthrough; 5 Possible Results of the Ongoing Global Convergence; References; Borrowing Constraints and Monetary Policy: The Inflation Tax-Net Worth Channel; 1 Introduction; 2 The Model Set Up; 2.1 The Farmer/Borrower; 2.2 The Gatherer/Lender; 3 Equilibrium; 4 Dynamics
4.1 Steady States and Their Properties4.2 Monetary Policy, Net Worth and the Inflation Tax; 4.3 Is There an Output Maximizing Inflation Rate?; 4.4 Inflation, the Allocation of Land and Social Welfare; 5 The Effects of an Unexpected Productivity Shock; 6 The Effects of an Unexpected Monetary Shock; 7 Conclusions; Appendix 1: The Farmer's Maximization Problem; Appendix 2: The Gatherer's Maximization Problem; References; Modeling Climate Change Effects on Renewable and Non-Renewable Resources; 1 Introduction; 2 Literature Review; 3 Stylized Facts; 4 Theoretical Model; 5 Final Remarks; Appendix