The Currency And Its Connection With National Distress By Η Θ

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Exchange Rate Economics

Author : Ronald MacDonald
Publisher : Routledge
Page : 419 pages
File Size : 51,9 Mb
Release : 2002-09-26
Category : Business & Economics
ISBN : 9781134838219

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Exchange Rate Economics by Ronald MacDonald Pdf

'In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.' "Journal of International Economics"

Preventing Currency Crises in Emerging Markets

Author : Sebastian Edwards,Jeffrey A. Frankel
Publisher : University of Chicago Press
Page : 720 pages
File Size : 48,5 Mb
Release : 2009-02-15
Category : Business & Economics
ISBN : 9780226185057

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Preventing Currency Crises in Emerging Markets by Sebastian Edwards,Jeffrey A. Frankel Pdf

Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. In this timely and important volume, distinguished academics, officials in multilateral organizations, and public and private sector economists explore the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion (transmission of currency crises across countries), the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector (including the multilaterals), capital controls, bank supervision and weaknesses, and the roles of cronyism, corruption, and large players (including hedge funds). Ably balancing detailed case studies, cross-country comparisons, and theoretical concerns, this book will make a major contribution to ongoing efforts to understand and prevent international currency crises.

Central Banks as Fiscal Players

Author : Willem Buiter
Publisher : Cambridge University Press
Page : 229 pages
File Size : 42,6 Mb
Release : 2020-11-12
Category : Business & Economics
ISBN : 9781108842822

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Central Banks as Fiscal Players by Willem Buiter Pdf

It is well known that the balance sheets of most major central banks significantly expanded in the aftermath of the financial crisis of 2007-2011, but the consequences of this expansion are not well understood. This book develops a unified framework to explain how and why central bank balance sheets have expanded and what this shift means for fiscal and monetary policy. Buiter addresses a number of key issues in monetary economics and public finance, including how helicopter money works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal theory of the price level is a fallacy and how to escape from the zero lower bound.

The Monetary Geography of Africa

Author : Paul R. Masson,Catherine Pattillo
Publisher : Rowman & Littlefield
Page : 248 pages
File Size : 47,5 Mb
Release : 2004-11-30
Category : Political Science
ISBN : 0815797532

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The Monetary Geography of Africa by Paul R. Masson,Catherine Pattillo Pdf

Africa is working toward the goal of creating a common currency that would serve as a symbol of African unity. The advantages of a common currency include lower transaction costs, increased stability, and greater insulation of central banks from pressures to provide monetary financing. Disadvantages relate to asymmetries among countries, especially in their terms of trade and in the degree of fiscal discipline. More disciplined countries will not want to form a union with countries whose excessive spending puts upward pressure on the central bank's monetary expansion. In T he Monetary Geography of Africa, Paul Masson and Catherine Pattillo review the history of monetary arrangements on the continent and analyze the current situation and prospects for further integration. They apply lessons from both experience and theory that lead to a number of conclusions. To begin with, West Africa faces a major problem because Nigeria has both asymmetric terms of trade—it is a large oil exporter while its potential partners are oil importers—and most important, large fiscal imbalances. Secondly, a monetary union among all eastern or southern African countries seems infeasible at this stage, since a number of countries suffer from the effects of civil conflicts and drought and are far from achieving the macroeconomic stability of South Africa. Lastly, the plan by Kenya, Tanzania, and Uganda to create a common currency seems to be generally compatible with other initiatives that could contribute to greater regional solidarity. However, economic gains would likely favor Kenya, which, unlike the other two countries, has substantial exports to its neighbors, and this may constrain the political will needed to proceed. A more promising strategy for monetary integration would be to build on existing monetary unions—the CFA franc zone in western and central Africa and the Common Monetary Area in southern Africa. Masson and Pattillo argue that the goal of a creating a single African currency is probably beyond reach. Economic realities suggest that grand new projects for African monetary unions are unlikely to be successful. More important for Africa's economic well-being will be to attack the more fundamental problems of corruption and governance.

Inside and Outside Liquidity

Author : Bengt Holmstrom,Jean Tirole
Publisher : MIT Press
Page : 263 pages
File Size : 48,5 Mb
Release : 2013-01-11
Category : Business & Economics
ISBN : 9780262518536

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Inside and Outside Liquidity by Bengt Holmstrom,Jean Tirole Pdf

Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.

The Chicago Plan Revisited

Author : Mr.Jaromir Benes,Mr.Michael Kumhof
Publisher : International Monetary Fund
Page : 71 pages
File Size : 43,5 Mb
Release : 2012-08-01
Category : Business & Economics
ISBN : 9781475505528

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The Chicago Plan Revisited by Mr.Jaromir Benes,Mr.Michael Kumhof Pdf

At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.

Government Guarantees

Author : Timothy Irwin
Publisher : World Bank Publications
Page : 230 pages
File Size : 43,5 Mb
Release : 2007
Category : Business & Economics
ISBN : 9780821368596

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Government Guarantees by Timothy Irwin Pdf

The book considers when governments should give guarantees to private investors. After describing the history of guarantees, and the challenges the politics and psychology create for good decisions, the book sets out a principles for allocating risk (and therefore guarantees), techniques for valuing guarantees, and rules to encourage good decisions.

Equity and Well-Being

Author : Hyun Hwa Son
Publisher : Routledge
Page : 292 pages
File Size : 43,9 Mb
Release : 2013-04-03
Category : Business & Economics
ISBN : 9781136579325

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Equity and Well-Being by Hyun Hwa Son Pdf

Equity is an abstract concept covering philosophical issues such as fairness and social justice, making its definition and measurement complex. This volume tackles these complexities head-on. The book is enriched with many empirical analyses and provides a comprehensive analysis of equity ranging from concepts and measurements to empirical illustrations and policy implications. After an extensive discussion on equity in the introduction, this volume begins with a chapter on well-being where the concepts of functioning and capability are discussed. This is followed by a few chapters on what an equitable distribution is and how equity can be measured. The volume then provides a definition and a methodology to measure equitable growth, examining the relationship between growth, inequality, and poverty. It also presents various empirical illustrations and country-specific experiences with three country case studies which assess whether publicly provided health and education services are equitable in developing Asia, examining the extent to which these social services favor the poor as well as the policy challenges to a more equitable delivery of these services. Finally, these country studies provide evidence–based policy recommendations to improve equity in social service delivery in developing countries. Achieving social equity has long been an important policy goal. There are relatively few studies on equity. This book aims to help fill this gap with an in-depth analysis of the issues associated with equity, covering its concept, measurement, and policy practices and implications.

The Barbarian's Beverage

Author : Max Nelson
Publisher : Routledge
Page : 224 pages
File Size : 52,9 Mb
Release : 2005-02-25
Category : Business & Economics
ISBN : 9781134386727

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The Barbarian's Beverage by Max Nelson Pdf

There has been a very long and rich European beer-making tradition which developed independently of any traditions in the Middle East or Egypt. This text demonstrates the important technological as well as ideological contributions made by the Europeans to the history of beer.

The Comedy of Protection

Author : Yves Guyot
Publisher : Unknown
Page : 368 pages
File Size : 47,5 Mb
Release : 1906
Category : Free trade
ISBN : PRNC:32101068318649

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The Comedy of Protection by Yves Guyot Pdf

The Mobility of Displaced Syrians

Author : World Bank
Publisher : World Bank Publications
Page : 278 pages
File Size : 55,7 Mb
Release : 2020-01-27
Category : Business & Economics
ISBN : 9781464814020

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The Mobility of Displaced Syrians by World Bank Pdf

The war in Syria, now in its eighth year, continues to take its toll on the Syrian people. More than half of the population of Syria remains displaced; 5.6 million persons are registered as refugees outside of the country and another 6.2 million are displaced within Syria's borders. The internally displaced persons include 2 million school-age children; of these, less than half attend school. Another 739,000 Syrian children are out of school in the five neighborhood countries that host Syria's refugees. The loss of human capital is staggering, and it will create permanent hardships for generations of Syrians going forward. Despite the tragic prospects for renewed fighting in certain parts of the country, an overall reduction in armed conflict is possible going forward. However, international experience shows that the absence of fighting is rarely a singular trigger for the return of displaced people. Numerous other factors—including improved security and socioeconomic conditions in origin states, access to property and assets, the availability of key services, and restitution in home areas—play important roles in shaping the scale and composition of the returns. Overall, refugees have their own calculus of return that considers all of these factors and assesses available options. The Mobility of Displaced Syrians: An Economic and Social Analysis sheds light on the 'mobility calculus' of Syrian refugees. While dismissing any policies that imply wrongful practices involving forced repatriation, the study analyzes factors that may be considered by refugees in their own decisions to relocate. It provides a conceptual framework, supported by data and analysis, to facilitate an impartial conversation about refugees and their mobility choices. It also explores the diversified policy toolkit that the international community has available—and the most effective ways in which the toolkit can be adapted—to maximize the well-being of refugees, host countries, and the people in Syria.

Program Or be Programmed

Author : Douglas Rushkoff
Publisher : OR Books
Page : 149 pages
File Size : 43,9 Mb
Release : 2010
Category : Computer programming
ISBN : 9781935928157

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Program Or be Programmed by Douglas Rushkoff Pdf

Is the internet good or bad? How can technology be directed? In this spirited, accessible poetics of new media, Rushkoff picks up where Marshall McLuhan left off, helping readers come to recognise programming as the new literacy of the digital age and as a template through which to see beyond social conventions and power structures that have vexed us for centuries. This is a friendly little book with a big and actionable message.

Policy and Choice

Author : William J. Congdon,Jeffrey R. Kling,Sendhil Mullainathan
Publisher : Brookings Institution Press
Page : 260 pages
File Size : 55,6 Mb
Release : 2011
Category : Business & Economics
ISBN : 9780815704980

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Policy and Choice by William J. Congdon,Jeffrey R. Kling,Sendhil Mullainathan Pdf

Argues that public finance--the study of the government's role in economics--should incorporate principles from behavior economics and other branches of psychology.