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Three Essays On International Economics And Finance
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Book Synopsis The Theory of Money and Financial Institutions by : Martin Shubik
Download or read book The Theory of Money and Financial Institutions written by Martin Shubik and published by MIT Press. This book was released on 1999 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Book Synopsis Global Economics in Extraordinary Times by : C. Fred Bergsten
Download or read book Global Economics in Extraordinary Times written by C. Fred Bergsten and published by Peterson Institute. This book was released on 2012-11-15 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over five decades, John Williamson has written across an extraordinarily broad set of topics in international economics ranging from international monetary economics to development policy. The arc of his scholarship follows the main preoccupations of international economists during the second half of the 20th century and the first decade of the 21st. Bridging the scholarly literature and policy debates, his publications on the Washington Consensus, exchange rate policy, and international monetary reform have profoundly influenced public discourse, government policy, and the evolution of the economics discipline. As John marked his 75th birthday, his friends and colleagues prepared this collection of essays to celebrate these many contributions and reflect on their relevance to the challenges that confront the world economy in the wake of the 2008 09 global financial crisis and its current aftermath in Europe.
Book Synopsis Three Essays in International Finance by : Byong-Ju Lee
Download or read book Three Essays in International Finance written by Byong-Ju Lee and published by Stanford University. This book was released on 2011 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays on international finance. The first essay is "Exchange rates and Fundamentals". A new open interest rate parity condition that takes account of economic fundamentals is developed from stochastic discount factors (SDFs) of two countries. Through this parity condition, business cycles or fundamentals are linked to exchange rates. Key empirical findings from this parity condition are as follows. First, this model beats the random walk hypothesis: economic fundamentals explain exchange rate movements for high interest rate currencies. Exchange rates of low interest rate currencies act like a random walk because they are less correlated with fundamentals owing to their low risk. For example, U.S. business cycles explain the direction of changes in exchange rates against the dollar. The same thing is true for Japan. Second, this model resolves the forward premium puzzle: the forward premium puzzle is not a general characteristic as regarded in previous studies. It happens when the risk awareness of investors is low, during economic expansions and for low risk currencies. The second essay is "Carry Trade and Global Financial Instability". Carry trade, an opportunistic investment strategy that takes advantage of interest rate differential across countries, is identified the cause of the large-scale depreciations of peripheral currencies in the later half of 2008. A simultaneous equations model, which is derived from a conceptual partial equilibrium model for a local foreign exchange market, is estimated from a cross-sectional sample. The results suggest that the larger appreciation of the yen than the dollar was brought about by a lack of the local supply of the yen rather than a more severe crunch of yen credits. The third essay is "The Economic Origin of Letters of Credit". This essay discusses the economic origin of letters of credit, an instrument widely used in international trade. A game theoretical analysis shows that letters of credit improve efficiency in trade settlements, increasing returns in trade. A few notable facts on letters of credit are discussed. First, the new institution is adopted by merchant banks to maximize their profits and in the process, an improvement in efficiency of international transactions is obtained. Second, the organization established by the legacy institution, bills of exchange, played a critical role in adopting the new institution. Third, the legal enforcement is not essential in this economic institution. Finally, two drivers are identified that improve efficiency of transactions: concentration and projection.
Book Synopsis Three Essays in International Economics by : Gaofeng Han
Download or read book Three Essays in International Economics written by Gaofeng Han and published by . This book was released on 2001 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in International Economics by : Christopher Johann Kurz
Download or read book Three Essays in International Economics written by Christopher Johann Kurz and published by . This book was released on 2005 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Money, History, and International Finance by : Michael D. Bordo
Download or read book Money, History, and International Finance written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-12-01 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides a critical evaluation of Anna J. Schwartz's work and probes various facets of the immense contribution of her scholarship—How well has it stood the test of time? What critiques have been leveled against it? How has monetary research developed over the years, and how has her influence been manifested? Bordo has collected five conference papers presented by leading monetary scholars, discussants' comments, and closing remarks by Milton Friedman and Karl Brunner. Each of these insightful surveys extends Schwartz's work and makes its own contribution to the fields of monetary history, theory, and policy. The volume also contains a foreword by Martin Feldstein and a selected bibliography of publications by Anna Schwartz.
Book Synopsis Essays on the Great Depression by : Ben S. Bernanke
Download or read book Essays on the Great Depression written by Ben S. Bernanke and published by Princeton University Press. This book was released on 2009-01-10 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effects As chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930s—work for which he was later awarded the Nobel Prize. This influential work is collected in Essays on the Great Depression, an important account of the origins of the Depression and the economic lessons it teaches.
Book Synopsis Three Essays in International Economics by : Alan Glen Isaac
Download or read book Three Essays in International Economics written by Alan Glen Isaac and published by . This book was released on 1986 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dead Aid written by Dambisa Moyo and published by Macmillan. This book was released on 2009-03-17 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Moyo offers a bold new road map for financing development of the world's poorest countries.
Book Synopsis Three Essays in International Macroeconomics and Finance by : Enrique Martinez-Garcia
Download or read book Three Essays in International Macroeconomics and Finance written by Enrique Martinez-Garcia and published by . This book was released on 2007 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis World Finance and Economic Stability by : James Tobin
Download or read book World Finance and Economic Stability written by James Tobin and published by Edward Elgar Publishing. This book was released on 2003 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel Prize winner James Tobin has made outstanding contributions to modern macroeconomics. In this final collection of his work he examines the economic policies of the United States and its relations with other major economies after 1990. In James Tobin's view, the welfare of populations depends uniquely on these policies and it is important to be aware of their impact. This book brings together James Tobin's recent work, both published and unpublished, on finance and globalization, currency crises and bailouts. Emphasis is placed on international economic relations and policies, and on the IMF and World Bank. In particular, economic and monetary relations among nations, exchange rate problems and policies and the 'Tobin Tax' - popular in Europe but much misunderstood - are discussed. Professor Tobin also examines the impact of his earlier work on recent US fiscal policy. The Clinton administration followed a tight fiscal policy leading to budget surpluses, and this enabled Alan Greenspan at the Federal Reserve to follow an 'easy', low interest rate, monetary policy. This mix was advocated back in the 1950s and 1960s by Paul Samuelson and James Tobin. The memo Professor Tobin wrote for the J.F. Kennedy campaign of 1960 is published for the first time. The policy was not applied until 30-35 years later. Presenting a framework for understanding monetary and fiscal policies and how they determine full employment and growth, the book will prove invaluable to students and scholars of macroeconomics, as well as economists wishing to gain an insight into Professor Tobin's unique contribution to economics.
Book Synopsis There's No Such Thing as "The Economy" by : Samuel A. Chambers
Download or read book There's No Such Thing as "The Economy" written by Samuel A. Chambers and published by punctum books. This book was released on 2018 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every Economics textbook today teaches that questions of values and morality lie outside of, are in fact excluded from, the field of Economics and its proper domain of study, "the economy." Yet the dominant cultural and media narrative in response to major economic crisis is almost always one of moral outrage. How do we reconcile this tension or explain this paradox by which Economics seems to have both everything and nothing to do with values? The discipline of modern economics hypostatizes and continually reifies a domain it calls "the economy"; only this epistemic practice makes it possible to falsely separate the question of value from the broader inquiry into the economic. And only if we have first eliminated value from the domain of economics can we then transform stories of financial crisis or massive corporate corruption into simple tales of ethics. But if economic forces establish, transform, and maintain relations of value then it proves impossible to separate economics from questions of value, because value relations only come to be in the world by way of economic logics. This means that the "positive economics" spoken of so fondly in the textbooks is nothing more than a contradiction in terms, and as this book demonstrates, there's no such thing as "the economy." To grasp the basic logic of capital is to bring into view the unbreakable link between economics and value.
Book Synopsis Political Economy and International Economics by : Jagdish N. Bhagwati
Download or read book Political Economy and International Economics written by Jagdish N. Bhagwati and published by MIT Press. This book was released on 1996 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt: Political Economy and International Economics is the fifth volume of collected essays by the noted economist Jagdish Bhagwati.
Book Synopsis Three Essays in International Economics by : Maxwell Oteng
Download or read book Three Essays in International Economics written by Maxwell Oteng and published by . This book was released on 2002 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Macroeconomics, Finance and Money by : Giuseppe Fontana
Download or read book Macroeconomics, Finance and Money written by Giuseppe Fontana and published by Springer. This book was released on 2010-03-11 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume focuses on current issues of debate in the area of modern macroeconomics and money, written from (a broadly interpreted) post Keynesian perspective. The papers connect with Philip Arestis' contributions to macroeconomics and money, and pay tribute to his distinguished career.
Book Synopsis Contours of the World Economy 1-2030 AD by : Angus Maddison
Download or read book Contours of the World Economy 1-2030 AD written by Angus Maddison and published by OUP Oxford. This book was released on 2007-09-20 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book seeks to identify the forces which explain how and why some parts of the world have grown rich and others have lagged behind. Encompassing 2000 years of history, part 1 begins with the Roman Empire and explores the key factors that have influenced economic development in Africa, Asia, the Americas and Europe. Part 2 covers the development of macroeconomic tools of analysis from the 17th century to the present. Part 3 looks to the future and considers what the shape of the world economy might be in 2030. Combining both the close quantitative analysis for which Professor Maddison is famous with a more qualitative approach that takes into account the complexity of the forces at work, this book provides students and all interested readers with a totally fascinating overview of world economic history. Professor Maddison has the unique ability to synthesise vast amounts of information into a clear narrative flow that entertains as well as informs, making this text an invaluable resource for all students and scholars, and anyone interested in trying to understand why some parts of the World are so much richer than others.
Book Synopsis Essays in Political Economy and International Public Finance by : Áron Kiss
Download or read book Essays in Political Economy and International Public Finance written by Áron Kiss and published by Peter Lang. This book was released on 2009 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coalitions and political accountability -- Divisive politics and accountability -- Minimum taxes and repeated tax competition -- Summary in German.
