This is the second of three volumes containing edited versions of papers and a commentary presented at invited symposium sessions of the Ninth World Congress of the Econometric Society, held in London in August 2005. The papers summarize and interpret key developments, and they discuss future directions for a wide variety of topics in economics and econometrics. The papers cover both theory and applications. Written by leading specialists in their fields, these volumes provide a unique survey of progress in the discipline.

"The sponsorship of the Econometric Society attests to this volume's high quality. Experts from all corners of the world discuss many of the recent developments and ongoing research in economic and econometrics."
Technometrics

"The papers contain extensive lists of references, which make them ideal study material for students and researchers alike."
Paul Embrechts, Swiss Federal Institute of Technology, Journal of the American Statistical Association

"The papers contain extensive lists of references, which make them ideal study material for students and researchers alike."
Paul Embrechts, Journal of the American Statistical Association