Download or read book Global Shocks written by Nicholas P. Sargen and published by Springer. This book was released on 2016-10-05 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, which is written from a practitioner’s perspective, fills the void by providing the reader with a toolkit and guiding principles to manage money when markets are in turmoil. It features ten case studies beginning with the breakdown of the Bretton Woods fixed exchange rate system through the current situation in which investors are assessing whether China could become the next bubble. Each chapter discusses how the respective crisis or bubble unfolded at the time, the way policymakers and markets responded, and the optimal strategy for positioning portfolios. The goal is to share these experiences and the lessons from them, so investors will be better prepared for future shocks. The opening chapter explores whether there are common patterns in movements of interest rates and exchange rates that investors can exploit. A conceptual framework is presented that helps explain why this is the case for traditional currency crises, but less so for asset bubbles. The concluding chapter ties the episodes together and considers how the nature of financial crises has evolved since the collapse of Bretton Woods. We cite factors that make it difficult for policymakers and investors to detect problems in advance of an asset bubble. The good news is investors get a second chance to outperform when markets are over-sold; however, they need to formulate a strategy to limit the damage during the sell-off phase and to capitalize on the eventual recovery.
Download or read book The Shock of the Global written by Niall Ferguson and published by Belknap Press. This book was released on 2011 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title examines the large-scale structural upheaval of the 1970s by transcending the standard frameworks of national borders and superpower relations. It reveals an international system in the throes of enduring transformations.
Download or read book OECD Reviews of Risk Management Policies Future Global Shocks Improving Risk Governance written by OECD and published by OECD Publishing. This book was released on 2011-08-04 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides strategic advice on preparing for and responding to potential global shocks.
Download or read book The Shifts and the Shocks written by Martin Wolf and published by Penguin UK. This book was released on 2014-09-04 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Shifts and the Shocks, Martin Wolf - one of the world's most influential economic commentators and author of Why Globalization Works - presents his controversial and highly original analysis of the economic course of the last seven years There have been many books that have sought to explain the causes and courses of the financial and economic crisis which began in 2007-8. The Shifts and the Shocks is not another detailed history of the crisis, but the most persuasive and complete account yet published of what the crisis should teach us us about modern economies and economics. The book identifies the origin of the crisis in the complex interaction between globalization, hugely destabilizing global imbalances and our dangerously fragile financial system. In the eurozone, these sources of instability were multiplied by the tragically defective architecture of the monetary union. It also shows how much of the orthodoxy that shaped monetary and financial policy before the crisis occurred was complacent and wrong. In doing so, it mercilessly reveals the failures of the financial, political and intellectual elites who ran the system. The book also examines what has been done to reform the financial and monetary systems since the worst of the crisis passed. 'Are we now on a sustainable course?' Wolf asks. 'The answer is no.' He explains with great clarity why 'further crises seem certain' and why the management of the eurozone in particular 'guarantees a huge political crisis at some point in the future.' Wolf provides far more ambitious and comprehensive plans for reform than any currently being implemented. Written with all the intellectual command and trenchant judgement that have made Martin Wolf one of the world's most influential economic commentators, The Shifts and the Shocks matches impressive analysis with no-holds-barred criticism and persuasive prescription for a more stable future. It is a book no-one with an interest in global affairs will want to neglect. MARTIN WOLF is Associate Editor and Chief Economics Commentator at the Financial Times, London. He is the recipient of many awards for financial journalism, for which he was also made a CBE in 2000. His previous books include Why Globalization Works and Fixing Global Finance. "We have been inundated with books about the 'financial' aspects of the crisis. There have also been many books about specific institutions or memoirs by retired policy-makers. We need something different. There are two dimensions of the crisis that have received surprisingly little treatment. One is the link between developments in the macro-economy and the behaviour of the financial sector. The other is the global dimension of the crisis. Both these lie at the heart of Martin Wolf's analysis of the causes of the crisis and of his proposals to reduce the risk of another crisis. For these two reasons this is an important book that will be influential. Most important of all, it is in my view the right analysis and remedy" Mervyn King "To think straight about the causes and solutions of the financial crisis we must reject orthodox assumptions that more finance and global financial integration are limitlessly beneficial. The Shifts and the Shocks does just that, providing an intellectually sparkling and vital account of why the crisis occurred, and of the radical reforms needed if we are to avoid a future repeat" Adair Turner "Martin Wolf is unsurpassed in the world of economic journalists. His superb book may be the best of all those spawned by the Great Recession. It is analytical and rigorous without ever succumbing to fatalism or complacency" Lawrence Summers
Download or read book Global Shocks and the New Global and Regional Financial Architecture written by Naoyuki Yoshino and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asian economies continue to be subject to new shocks: US monetary policy tightening, the adoption of negative-interest-rate policies by central banks all over the world, the slowdown of the People's Republic of China, and the sharp drop in oil and other commodity prices. All these highlight the vulnerability of the region to volatile trade and capital flows even as the global and Asian regional financial architecture evolves. This volume analyzes the vulnerabilities of Asian economies to external economic and financial shocks and assesses the performance of Asian regional institutions in financial surveillance and cooperation. It also evaluates ongoing reforms of the global financial architecture, including the International Monetary Fund (IMF), the Financial Stability Board, and reviews the experience of the "Troika" (European Commission, European Central Bank, and the IMF) in managing the European sovereign debt and banking crisis. Based on these, the book develops valuable recommendations to strengthen the Asian regional financial architecture and improve cooperation with global multilateral institutions.
Download or read book The Shock Doctrine written by Naomi Klein and published by Metropolitan Books. This book was released on 2010-04-01 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: The bestselling author of No Logo shows how the global "free market" has exploited crises and shock for three decades, from Chile to Iraq In her groundbreaking reporting, Naomi Klein introduced the term "disaster capitalism." Whether covering Baghdad after the U.S. occupation, Sri Lanka in the wake of the tsunami, or New Orleans post-Katrina, she witnessed something remarkably similar. People still reeling from catastrophe were being hit again, this time with economic "shock treatment," losing their land and homes to rapid-fire corporate makeovers. The Shock Doctrine retells the story of the most dominant ideology of our time, Milton Friedman's free market economic revolution. In contrast to the popular myth of this movement's peaceful global victory, Klein shows how it has exploited moments of shock and extreme violence in order to implement its economic policies in so many parts of the world from Latin America and Eastern Europe to South Africa, Russia, and Iraq. At the core of disaster capitalism is the use of cataclysmic events to advance radical privatization combined with the privatization of the disaster response itself. Klein argues that by capitalizing on crises, created by nature or war, the disaster capitalism complex now exists as a booming new economy, and is the violent culmination of a radical economic project that has been incubating for fifty years.
Download or read book Climate Shock written by Gernot Wagner and published by Princeton University Press. This book was released on 2016-04-19 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: How knowing the extreme risks of climate change can help us prepare for an uncertain future If you had a 10 percent chance of having a fatal car accident, you'd take necessary precautions. If your finances had a 10 percent chance of suffering a severe loss, you'd reevaluate your assets. So if we know the world is warming and there's a 10 percent chance this might eventually lead to a catastrophe beyond anything we could imagine, why aren't we doing more about climate change right now? We insure our lives against an uncertain future—why not our planet? In Climate Shock, Gernot Wagner and Martin Weitzman explore in lively, clear terms the likely repercussions of a hotter planet, drawing on and expanding from work previously unavailable to general audiences. They show that the longer we wait to act, the more likely an extreme event will happen. A city might go underwater. A rogue nation might shoot particles into the Earth's atmosphere, geoengineering cooler temperatures. Zeroing in on the unknown extreme risks that may yet dwarf all else, the authors look at how economic forces that make sensible climate policies difficult to enact, make radical would-be fixes like geoengineering all the more probable. What we know about climate change is alarming enough. What we don't know about the extreme risks could be far more dangerous. Wagner and Weitzman help readers understand that we need to think about climate change in the same way that we think about insurance—as a risk management problem, only here on a global scale. With a new preface addressing recent developments Wagner and Weitzman demonstrate that climate change can and should be dealt with—and what could happen if we don't do so—tackling the defining environmental and public policy issue of our time.
Download or read book Aftershocks written by Colin Kahl and published by St. Martin's Press. This book was released on 2021-08-24 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two of America's leading national security experts offer a definitive account of the global impact of COVID-19 and the political shock waves it will have on the United States and the world order in the 21st Century. “Informed by history, reporting, and a truly global perspective, this is an indispensable first draft of history and blueprint for how we can move forward.” —Ben Rhodes The COVID-19 pandemic killed millions, infected hundreds of millions, and laid bare the deep vulnerabilities and inequalities of our interconnected world. The accompanying economic crash was the worst since the Great Depression, with the International Monetary Fund estimating that it will cost over $22 trillion in global wealth over the next few years. Over two decades of progress in reducing extreme poverty was erased, just in the space of a few months. Already fragile states in every corner of the globe were further hollowed out. The brewing clash between the United States and China boiled over and the worldwide contest between democracy and authoritarianism deepened. It was a truly global crisis necessitating a collective response—and yet international cooperation almost entirely broke down, with key world leaders hardly on speaking terms. Colin Kahl and Thomas Wright's Aftershocks offers a riveting and comprehensive account of one of the strangest and most consequential years on record. Drawing on interviews with officials from around the world and extensive research, the authors tell the story of how nationalism and major power rivalries constrained the response to the worst pandemic in a century. They demonstrate the myriad ways in which the crisis exposed the limits of the old international order and how the reverberations from COVID-19 will be felt for years to come.
Download or read book Development Co operation Report 2020 Learning from Crises Building Resilience written by OECD and published by OECD Publishing. This book was released on 2020-12-22 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The devastating impacts of coronavirus (COVID-19) on developing countries have tested the limits, ingenuity and flexibility of development co-operation while also uncovering best practices. This 58th edition of the Development Co-operation Report draws out early insights from leaders, OECD members, experts and civil society on the implications of coronavirus (COVID-19) for global solidarity and international co-operation for development in 2021 and beyond.
Download or read book Global Shocks and their Impacton Low Income Countries written by Hans Weisfeld and published by International Monetary Fund. This book was released on 2011-02-01 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-run effects of the 2007-09 global financial crisis on growth in (mainly non-fuel exporting) low-income countries (LICs). Four conclusions stand out. First, for many individual LICs, 2009 was not extraordinarily calamitous; however, aggregate LIC output declined sharply because LICs were unusually synchronized. Second, the growth declines are on average well explained by the decline in export demand. Third, if the external environment facing LICs improves as forecast, their growth should rebound sharply. Finally, and contrary to received wisdom, there are few robust relationships between the cross-country growth variation and the policy and structural environment; the main exceptions are reserve coverage and labor-market flexibility.
Download or read book Learning from SARS written by Institute of Medicine and published by National Academies Press. This book was released on 2004-04-26 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of severe acute respiratory syndrome (SARS) in late 2002 and 2003 challenged the global public health community to confront a novel epidemic that spread rapidly from its origins in southern China until it had reached more than 25 other countries within a matter of months. In addition to the number of patients infected with the SARS virus, the disease had profound economic and political repercussions in many of the affected regions. Recent reports of isolated new SARS cases and a fear that the disease could reemerge and spread have put public health officials on high alert for any indications of possible new outbreaks. This report examines the response to SARS by public health systems in individual countries, the biology of the SARS coronavirus and related coronaviruses in animals, the economic and political fallout of the SARS epidemic, quarantine law and other public health measures that apply to combating infectious diseases, and the role of international organizations and scientific cooperation in halting the spread of SARS. The report provides an illuminating survey of findings from the epidemic, along with an assessment of what might be needed in order to contain any future outbreaks of SARS or other emerging infections.
Download or read book Economic Shocks and Authoritarian Stability written by Victor C. Shih and published by . This book was released on 2020 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Economic Shocks and Authoritarian Stability hones in on the economic challenges facing authoritarian regimes through a set of comparative case studies, which include Iran, Iraq under Saddam Hussein, Malaysia, Indonesia, Russia, the Eastern bloc countries, China, and Taiwan, authored by the top experts in these countries. Through these comparative case studies, this volume provides readers with the analytical tools for assessing whether the current round of economic shocks will lead to political instability or even regime change among the world's autocracies. This volume identifies the duration of economic shocks, the regime's control over the financial system, and the strength of the ruling party as key variables to explain whether authoritarian regimes would maintain the status quo, adjust their support coalitions, or fall from power after economic shocks"--
Download or read book Understanding Inflation Dynamics The Role of Global Shocks in CEMAC written by Johanna Tiedemann and published by International Monetary Fund. This book was released on 2024-03-08 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: As in the rest of the world, inflation in CEMAC surged more quickly and persistently than expected during the 2021–23 period. This paper examines the drivers of inflation dynamics and the contribution of global shocks to inflation persistence in CEMAC. We use a Phillips curve framework combined with the local projections method. Our results confirm the prominent role of global factors in driving inflation dynamics. Global commodity food and oil price fluctuations, and shipping costs are the main factors explaining the large variability in headline inflation. Further, we find that global price shocks have sizable and persistent effects on domestic headline inflation, with differences in the magnitude and speed of pass-through. The pass-through from commodity food price fluctuations to headline inflation is higher and more persistent than that of other global price shocks, reflecting the large share of food in the consumption baskets, which makes inflation more vulnerable to direct effects of international food shocks, but also larger second-round effects.
Download or read book Export Spillovers from Global Shocks for the Middle East and Central Asia written by Mr.Alberto Behar and published by International Monetary Fund. This book was released on 2014-05-09 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper quantifies the effect of realized and potential global growth disappointments on export volumes from the Middle East, North Africa, the Caucasus, and Central Asia. Estimates of export elasticities with respect to trading partner GDP indicate non-oil export volumes are relatively responsive while service exports are less responsive. Downward revisions to global GDP growth for 2011–14 have impeded export performance, and the possibility of disappointing GDP growth in Europe and emerging markets presents further downside risks for exports. The Maghreb countries are particularly sensitive to developments in Europe, while CCA countries are more susceptible to growth in the BRICS.
Download or read book Living through Crises written by Rasmus Heltberg and published by World Bank Publications. This book was released on 2012-04-01 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together qualitative studies conducted during 2008-11 in communities in sixteen countries, with eight case studies that illustrate how people in specific localities were impacted by global shocks and what coping mechanisms they used.
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Download or read book Electoral Shocks written by Ed Fieldhouse and published by Oxford University Press. This book was released on 2020 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Electoral Shocks: The Volatile Voter in a Turbulent World offers a novel perspective on British elections, focusing on the role of electoral shocks in the context of increasing electoral volatility. It demonstrates and explains the long-term trend in volatility, how shocks have contributed to the level of electoral volatility, and also which parties have benefited from the ensuing volatility. It follows in the tradition of British Election Study books, providing a comprehensive account of specific election outcomes- the General Elections of 2015 and 2017-and a more general and novel approach to understanding electoral change. The authors examine five electoral shocks that affected the elections of 2015 and 2017: the rise in immigration after 2004, particularly from Eastern Europe; the Global Financial Crisis prior to 2010; the coalition government of the Conservatives and the Liberal Democrats between 2010 and 2015; the Scottish Independence Referendum in 2014; and the European Union Referendum in 2016. The focus on electoral shocks offers an overarching explanation for the volatility in British elections, alongside the long-term trends that have led to this point. It offers a way to understand the rise and fall of the UK Independence Party (UKIP), Labour's disappointing 2015 performance and its later unexpected gains, the collapse in support for the Liberal Democrats, the dramatic gains of the Scottish National Party (SNP) in 2015, and the continuing period of tumultuous politics that has followed the EU referendum and the General Election of 2017. It provides a new way of understanding electoral choice in Britain, and also beyond, and a better understanding of the outcomes of recent elections.
