Download or read book Losing Out Marbles in the New Century written by Christopher M. Meisner and published by . This book was released on 2006 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Great attention is now being paid to global imbalances, the growing U.S. current account deficit financed by growing surpluses in the rest of the world. How can the issue be understood in a more historical perspective? We seek a meaningful comparison between the two eras of globalization: "then" (the period 1870 to 1913) and "now" (the period since the 1970s). We look at the two hegemons in each era: Britain then, and the United States now. And adducing historical data to match what we know from the contemporary record, we proceed in the tradition of New Comparative Economic History to see what lessons the past might have for the present. We consider two of the most controversial and pressing questions in the current debate. First, are current imbalances being sustained, at least in part, by return differentials? And if so, is this reassuring? Second, how will adjustment take place? Will it be a hard or soft landing? Pessimistically, we find no historical evidence that return differentials last forever, even for hegemons. Optimistically, we find that adjustments to imbalances in the past have generally been smooth, even under a regime as hard as the gold standard.
Download or read book The Great Unraveling Losing Our Way in the New Century written by Paul Krugman and published by W. W. Norton & Company. This book was released on 2004-08-17 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Paul Krugman is a hero of mine. Read his book."—Al Franken No one has more authority to call the shots the way they really are than award-winning economist Paul Krugman, whose provocative New York Times columns are keenly followed by millions. One of the world's most respected economists, Krugman has been named America's most important columnist by the Washington Monthly and columnist of the year by Editor and Publisher magazine. A major bestseller, this influential and wide-ranging book has been praised by BusinessWeek as Krugman's "most provocative and compelling effort yet," the New York Review of Books as "refreshing," and Library Journal as "thought-provoking...even funny." The American Prospect put it in vivid terms: "In a time when too few tell it like it is...[Krugman] has taken on the battle of our time." Built from Paul Krugman's influential Op-Ed columns for the New York Times, this book galvanized the reading public. With wit, passion, and a unique ability to explain complex issues in plain English, Krugman describes how the nation has been misled by a dishonest administration. In this long-awaited work containing Krugman's most influential columns along with new commentary, he chronicles how the boom economy unraveled: how exuberance gave way to pessimism, how the age of corporate heroes gave way to corporate scandals, how fiscal responsibility collapsed. From his account of the secret history of the California energy crisis to his devastating dissections of dishonesty in the Bush administration, from the war in Iraq to the looting of California to the false pretenses used to sell an economic policy that benefits only a small elite, Krugman tells the uncomfortable truth like no one else. And he gives us the road map we will need to follow if we are to get the country back on track. The paperback edition features a new introduction as well as new writings.
Download or read book One from Many written by Meissner and published by Oxford University Press. This book was released on 2023-11-03 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amid a recent surge in arguments that the global economy has begun to "de-globalize," a question has emerged: will globalization survive? In One From the Many: The Global Economy Since 1850, Christopher M. Meissner argues that based on the long-run of history, globalization will not be easily vanquished. However, globalization can only survive if humanity continues to recognize its common interests and the amazing untapped potential of further integration. At the same time, the potential adverse effects of greater integration must be acknowledged, mitigated, and minimized.
Download or read book Untangling the US Deficit written by Richard A. Iley and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book would be a good companion text for an undergraduate class in international finance or open-economy macroeconomics. Catherine L. Mann, Journal of Economic Literature Untangling the US Deficit is a unique and well-researched book and will be of great interest to academic economists and postgraduates. Policymakers, business and market economists will also find it an enlightening and challenging analysis. sirreadalot.org The book is written in a very accessible fashion, even though the authors strive to accommodate competing and complex views on the causes and cures of the US external deficit, which makes for enjoyable and informative reading. Their reliance on data, charts and bibliography result in persuasive arguments. Recommended. General readers; upper-division undergraduates through practitioners. A. Sharma, Choice What are the causes of the US current account deficit? Are the problems made in the US or the rest of the world? Are these deficits sustainable, at what level? These are the types of questions the authors set out to answer, and in essence conclude that the answers do not matter for global stability as long as imbalances are left to market forces and the US can avoid large net income outflows. The beauty of this book, however, is watching the authors (the unusual combination of a business economist and an academic economist) arrive at this conclusion. They provide insights that can come only from years of practical and theoretical experience. William E. Becker, Indiana University Bloomington, US As the US current account deficit has expanded to a record level of $811 billion in 2006, debate about the deficit s causes and consequences has also grown. Is the deficit a product of American profligacy or a glut of savings in the rest of the world? Is it a serious problem or essentially benign? Untangling the US Deficit charts a course between the competing explanations in a systematic and rigorous approach, incorporating the latest academic research and market data. Particular attention is given to the China United States trade imbalance and to the special role of the US dollar and US capital markets in global finance. This unique and well-researched book will be of great interest to academic economists and postgraduates. Policy-makers, business and market economists will also find it to be an enlightening and challenging account.
Download or read book The Handbook of Historical Economics written by Alberto Bisin and published by Academic Press. This book was released on 2021-04-21 with total page 1004 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Historical Economics guides students and researchers through a quantitative economic history that uses fully up-to-date econometric methods. The book's coverage of statistics applied to the social sciences makes it invaluable to a broad readership. As new sources and applications of data in every economic field are enabling economists to ask and answer new fundamental questions, this book presents an up-to-date reference on the topics at hand. - Provides an historical outline of the two cliometric revolutions, highlighting the similarities and the differences between the two - Surveys the issues and principal results of the "second cliometric revolution" - Explores innovations in formulating hypotheses and statistical testing, relating them to wider trends in data-driven, empirical economics
Download or read book Keeping Their Marbles written by Tiffany Jenkins and published by Oxford University Press. This book was released on 2018-02-08 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the past two centuries and more, the West has acquired the treasures of antiquity to fill its museums, so that visitors to the British Museum in London, the Louvre in Paris and the Metropolitan in New York - to name but a few - can wonder at the ingenuity of humanity throughout the ages. However, in the opinion of most people, many of these items are looted property and should be returned immediately. In 'Keeping Their Marbles', Tiffany Jenkins tells the intriguing and sometimes bloody story of how the West came to acquire these treasures. Originally published: 2016.
Download or read book Conference Series written by Federal Reserve Bank of Boston and published by . This book was released on 1969 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of International Economics written by Gita Gopinath and published by Elsevier. This book was released on 2014-02-22 with total page 773 pages. Available in PDF, EPUB and Kindle. Book excerpt: What conclusions can be drawn from recent advances in international trade and international macroeconomics? New datasets, theoretical models, and empirical studies have resulted in fresh questions about the world trade and payment system. These chapters--six on trade and six on international macroeconomics--reveal the richness that researchers have uncovered in recent years. The chapters on foreign trade present, among other subjects, new integrated multisector analytical frameworks, the use of gravity equations for the estimation of trade flows, the role of domestic institutions in shaping comparative advantage, and international trade agreements. On international macroeconomics, chapters explore the relation between exchange rates and other macroeconomic variables; risk sharing, allocation of capital across countries, and current account dynamics; and sovereign debt and financial crises. By addressing new issues while enabling deeper and sharper analyses of old issues, this volume makes a significant contribution to our understanding of the global economy. - Systematically illuminates and interprets recent developments in research on international trade and international macroeconomics - Focuses on newly developing questions and opportunities for future research - Presents multiple perspectives on ways to understand the global economy
Download or read book The Euro At Ten written by Jean Pisani-Ferry and published by Columbia University Press. This book was released on 2009-06-15 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the first ten years of its existence, the euro has proved to be more than a powerful symbol of collective identity. It has provided price stability to previously inflation-prone countries; it has offered a shelter against currency crises; and it has by and large been conducive to budgetary discipline. The eurozone has attracted five new members in addition to the initial eleven, and many countries in Europe wish to adopt it. The euro has also been successful internationally. Even though research presented in this volume confirms that it has not rivaled the dollar's world currency status, it has certainly become a strong regional currency in Europe and the Mediterranean region. Some countries in the region have de facto adopted it, several peg to it, and many have become at least partially euroized. However, the euro's impressive first decade is likely to be followed by a much more difficult period. The present financial crisis is posing at least two important challenges: real economic adjustment within the euro area and maintenance of fiscal and financial stability without a central government authority capable of taking appropriate financial and fiscal decisions in difficult times. The papers and remarks in this volume demonstrate that the euro has proved to be attractive as a fair weather currency for countries and investors well beyond its borders. But it remains to be seen whether it is equipped to also succeed as a stormy weather currency.
Download or read book Currency Conflicts on the International Scene written by John Driffill and published by Emirates Center for Strategic Studies and Research. This book was released on 2012-07-12 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been discussion of ‘currency wars’ for a number of years. The longest-running recent issue has been the persistent US current account deficit and the matching surpluses elsewhere in the world, particularly China. These ‘global imbalances’ surfaced before 2000, and look set to continue for many years more, with little sign of the US deficit or Chinese surplus closing, despite some movement in the real exchange rate. The issue is wider than this. In 2011 Japan took steps to limit the rise of the yen. There was concerted action by several central banks after the major earthquake in north-east Japan on 11th March 2011, and late in October 2011 Japan took unilateral action to prevent the Yen from rising further. In September 2011, the Swiss Central Bank imposed a ceiling on the value of the Swiss franc and a number of emerging economies whose exchange rates float freely, or relatively freely, and whose capital markets are fairly open, have complained that their currencies have become overvalued because international capital, looking for returns, has flowed into their economies. Brazil has taken steps to limit the rise of the Real. Other South American countries, including Chile and Peru, have been intervening in the last year to prevent what they see as excessive appreciation. Global imbalances and currency wars are the subject of frequent analysis by the International Monetary Fund and they attract a great deal of attention in the financial press. Currency conflicts cover two different phenomena: one is disagreement about the level of a managed or pegged exchange rate, like the Chinese Yuan; another is the inappropriate level to which floating exchange rates are driven by market forces, as in the case of the Brazilian Real, the Japanese Yen, and the Swiss Franc. A different analysis of how exchange rates come about is required for each case. It reflects the fact that the international monetary system comprises a variety of different ways of determining exchange rates and carrying out monetary policy. Some countries float, some peg, and others are in between. The current international monetary system is not really a ‘system’ in the sense that the Gold Standard or the Bretton Woods regime was a system. Instead, it is an ad hoc, patchwork affair. This paper reviews the causes and consequences of these currency conflicts, the way they are likely to develop in the coming years, and some possible solutions.
Download or read book Fixing Global Finance written by Martin Wolf and published by JHU Press. This book was released on 2010-04-01 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 2008, when Fixing Global Finance was first published, the collapse of the housing and credit bubbles of the 2000s has crippled the world’s economy. In this updated edition, Financial Times columnist Martin Wolf explains how global imbalances helped cause the financial crises now ravaging the U.S. economy and outlines steps for ending this destructive cycle—of which this is the latest and biggest. An expanded conclusion recommends near- and long-term measures to stabilize and protect financial markets in the future. Reviewing global financial crises since 1980, Wolf lays bare the links between the microeconomics of finance and the macroeconomics of the balance of payments, demonstrating how the subprime lending crisis in the United States fits into a pattern that includes the economic shocks of 1997, 1998, and early 1999 in Latin America, Russia, and Asia. He explains why the United States became the “borrower and spender of last resort,” makes the case that this was an untenable arrangement, and argues that global economic security depends on radical reforms in the international monetary system and the ability of emerging economies to borrow sustainably in domestic currencies. Sharply and clearly argued, Wolf’s prescription for fixing global finance illustrates why he has been described as "the world's preeminent financial journalist."
Download or read book The Real Life of the Parthenon written by Patricia Vigderman and published by Mad Creek Books. This book was released on 2018 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ruminates on ancient remains and antiquities, illuminating an important element of contemporary cultural life: the dynamic between loss and delight.
Download or read book Measuring Wealth and Financial Intermediation and Their Links to the Real Economy written by Charles R. Hulten and published by University of Chicago Press. This book was released on 2015-02-05 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than half a decade has passed since the bursting of the housing bubble and the collapse of Lehman Brothers. In retrospect, what is surprising is that these events and their consequences came as such a surprise. What was it that prevented most of the world from recognizing the impending crisis and, looking ahead, what needs to be done to prevent something similar? Measuring Wealth and Financial Intermediation and Their Links to the Real Economy identifies measurement problems associated with the financial crisis and improvements in measurement that may prevent future crises, taking account of the dynamism of the financial marketplace in which measures that once worked well become misleading. In addition to advances in measuring financial activity, the contributors also investigate the effects of the crisis on households and nonfinancial businesses. They show that households’ experiences varied greatly and some even experienced gains in wealth, while nonfinancial businesses’ lack of access to credit in the recession may have been a more important factor than the effects of policies stimulating demand.
Download or read book The Chinese Economic Renaissance written by D. Das and published by Springer. This book was released on 2008-07-10 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the launch in China of economic reforms and the 'open door policy', a new era of economic growth and global integration dawned. In 2008, the thirtieth anniversary year, China completes three decades of broad-based market-oriented macroeconomic reforms and restructuring. This book traces China's economic renaissance.
Download or read book International Capital Flows and Debt Dynamics written by Mr.Martin D. Evans and published by International Monetary Fund. This book was released on 2012-07-01 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new model for studying international capital flows and debt dynamics that emphasizes the role played by expectations concerning future trade flows and returns. I use the model to estimate the drivers of the U.S. external position and capital flows between 1973 and 2008. The estimates show that most of the secular rise in U.S. international indebtedness is attributable to growing optimism about future returns on U.S. holdings of foreign equity and FDI assets. They also show that the transformation of world savings into risky assets by the U.S. had little effect on its external position, but the expected future real depreciation of the dollar allowed the U.S. to sustain a higher level of international debt after the 1990s.
Download or read book The New Century Perfect Speaker written by John Coulter and published by . This book was released on 1901 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trends Projections written by Standard and Poor's Corporation and published by . This book was released on 2004 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
