2,045 results on '"European Central Bank"'
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2. Balance of Power : Central Banks and the Fate of Democracies
- Author
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Éric Monnet and Éric Monnet
- Subjects
- Banks and banking, Central--Political aspects, Welfare state, Monetary policy
- Abstract
Central banks now stand between societies and collapse, but are they still democratic? Two decades of financial crises have dramatically expanded central banks'powers. In 2008, and then again in 2020, unelected banking officials found themselves suddenly responsible for the public welfare—not just because it was necessary but based on an idea that their independence from political systems would insulate them from the whims of populism. Now, as international crises continue and the scope of monetary interventions grows in response, these bankers have become increasingly powerful. In Balance of Power, economist and historian Éric Monnet charts the rise of central banks as the nominally independent—but unavoidably political—superpowers of modern societies. This trajectory, Monnet argues, is neither inevitable nor unstoppable. By embracing the political natures of today's central banks, we can construct systems of accountability for how they interact with states and societies. Monnet shows that this effort will do more than guard against unjust power; it will put the banks to work for greater, more democratic ends. With existential challenges looming and the work of the Federal Reserve and European Central Bank more important than ever, Balance of Power offers a trenchant case for what this century's central banks can—and must—become.
- Published
- 2024
3. From EMS to EMU: 1979 to 1999 and Beyond
- Author
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David Cobham, George Zis, David Cobham, and George Zis
- Subjects
- International business enterprises, Europe—Politics and government, Economics
- Abstract
How did Europe get to monetary union in 1999 and how will EMU work out? Are the member countries starting in good shape and is the European Central Bank going to be a success? Should the UK enter EMU too, and if so when and how? This book provides a stocktaking of the process of European monetary integration as of early 1999 - at the start of European Monetary Union and twenty years after the creation of the European Monetary System. Based upon the first academic conference on the subject since the start of EMU by the Money, Macro and Finance Research Group and bringing together leading academics, researchers and policy-makers - including members of the European Central Bank - the book assesses recent experiences and evaluates likely future developments.
- Published
- 2016
4. Money, Currency and Crisis : In Search of Trust, 2000 BC to AD 2000
- Author
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R.J. van der Spek, Bas van Leeuwen, R.J. van der Spek, and Bas van Leeuwen
- Subjects
- Financial crises--History, Money--History, Economic history
- Abstract
Money is a core feature in all discussions of economic crisis, as is clear from the debates about the responses of the European Central Bank and the Federal Reserve Bank of the United States to the 2008 economic crisis.This volume explores the role of money in economic performance, and focuses on how monetary systems have affected economic crises for the last 4,000 years. Recent events have confirmed that money is only a useful tool in economic exchange if it is trusted, and this is a concept that this text explores in depth. The international panel of experts assembled here offers a long-range perspective, from ancient Assyria to modern societies in Europe, China and the US.This book will be of interest to students and researchers of economic history, and to anyone who seeks to understand the economic crises of recent decades, and place them in a wider historical context.
- Published
- 2018
5. The Role of Employer Associations and Labour Unions in the EMU : Institutional Requirements for European Economic Policies
- Author
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Gerhard Huemer, Franz Traxler, Michael Mesch, Gerhard Huemer, Franz Traxler, and Michael Mesch
- Subjects
- Industrial relations--European Union countries--Congresses, Employers' associations--European Union countries--Congresses, Labor unions--European Union countries--Congresses
- Abstract
First published in 1999, this volume recognises that in the course of European integration, national economic policy makers lose some effective policy instruments. Contributors to this omnibus volume analyse the'room for maneuvering'available to national and EU economic and social policies under the conditions of the Economic and Monetary Union (EMU). They explore the possibilities for European coordination and discuss the tasks of employers'associations and labour unions on the national and EU level in wage, employment and macroeconomic policies. Section 1 of the book deals with the strengths and weaknesses of the EU in the context of global competition. In spite of national differences, many of the EU member countries share important characteristics. Section 2 addresses the need for and the feasibility of policy coordination in the EMU. With the start of the EMU, wage policy will have to bear the main burden of absorbing asymmetrical economic shocks. The authors from the DIW argue that a wage policy favourable to economic growth, employment and convergence has to be guided by the inflation target set by the European Central Bank (ECB) and by the long-term increase of productivity in individual countries. A precondition for this kind of wage policy is coordination between the main actors of EU economic policy (ECB, EcoFin, social partners).
- Published
- 2018
6. Macroeconomics in Context : A European Perspective
- Author
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Sebastian Dullien, Neva Goodwin, Jonathan Harris, Julie Nelson, Brian Roach, Mariano Torras, Sebastian Dullien, Neva Goodwin, Jonathan Harris, Julie Nelson, Brian Roach, and Mariano Torras
- Subjects
- Macroeconomics
- Abstract
Macroeconomics in Context: A European Perspective lays out the principles of macroeconomics in a manner that is thorough, up to date, and relevant to students. With a clear presentation of economic theory throughout, this latest addition to the bestselling'In Context'set of textbooks is written with a specific focus on European data, institutions, and historical events, offering engaging treatment of high-interest topics, including sustainability, Brexit, the euro crisis, and rising inequality. Policy issues are presented in context (historical, institutional, social, political, and ethical), and always with reference to human well-being. This book is divided into four parts, covering the following key issues: The context of economic analysis, including basic macroeconomic statistics and tools; The basics of macroeconomic measurements, including GDP, inflation, and unemployment, as well as alternative measures of well-being, and the particular structures of the European economies; Methods for analyzing monetary and fiscal policy, including an in-depth coverage of the instruments and approaches of the European central bank and some coverage of an open economy; The application of the tools learnt to selected macroeconomic issues, such as the euro crisis, the global financial crisis, public debt, global development, and environmental sustainability. Far more than any other existing macroeconomic textbook, this book combines real-world relevance of the topics covered with a strong focus on European institutions and structures within an approach that explains multiple economic paradigms. This combination helps to raise students'interest in macroeconomics as well as enhance their understanding of the power and limitation of macroeconomic analysis.Visit http://www.bu.edu/eci/education-materials/textbooks/macroeconomics-in-context-a-european-perspective/ for online resources for both lecturers and students. A video of a panel discussion about the book can be found at https://youtu.be/xjHJrW9WP44.
- Published
- 2017
7. Banking and Monetary Policies in a Changing Financial Environment : A Regulatory Approach
- Author
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Wassim Shahin, Elias El-Achkar, Wassim Shahin, and Elias El-Achkar
- Subjects
- Banking law, Banks and banking--State supervision, Monetary policy, Financial institutions--Government policy
- Abstract
The 21st century witnessed major changes in the financial environment surrounding bank regulators and banks. Banking and Monetary Policies in a Changing Financial Environment delves into three of these developments and challenges. The first change in the financial environment relates to the rise in the number and sophistication of financial and economic crimes which shaped the international regulatory architecture. New rules and regulations led to the creation of new strategies to combat these crimes, especially those concerning the spread of more advanced money laundering methods and techniques, terrorist financing after the 9/11 attacks, and the proliferation of weapons of mass destruction. The second development concerns the global financial crisis of 2008 which drastically affected the regulatory environment of various international and domestic financial authorities causing major changes in bank lending and corporate governance policies, and in the development of the Basel III accord on capital adequacy for bank supervision. The third development manifests itself in the creation of a major European monetary union without a fiscal union and a giant European central bank impacting the conduct of monetary policy. This book combines theory, policy, regulation and institutional approaches with empirical testing, analyzing applications and case studies of various international regulatory authorities and administrations, countries and jurisdictions, central banks and commercial banks. This volume is suitable for those who study international finance, Banking and white collar crime.
- Published
- 2017
8. Banking in Portugal
- Author
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Anabela Sérgio and Anabela Sérgio
- Subjects
- Banks and banking--Portugal--History
- Abstract
This book explains how banking institutions in Portugal were able to maintain their strength and solubility while undergoing a demanding Program of Financial Assistance from the International Monetary Fund, the European Central Bank and the European Commission from May 2011 and May 2014.
- Published
- 2016
9. The First Decade of Living with the Global Crisis : Economic and Social Developments in the Balkans and Eastern Europe
- Author
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Anastasios Karasavvoglou, Zoran Aranđelović, Srđan Marinkovič, Persefoni Polychronidou, Anastasios Karasavvoglou, Zoran Aranđelović, Srđan Marinkovič, and Persefoni Polychronidou
- Subjects
- Agriculture--Economic aspects--Europe, Eastern, Social capital (Sociology)--Europe, Eastern, Social capital (Sociology)--Balkan Peninsula, Agriculture--Economic aspects--Balkan Peninsula, International economic relations
- Abstract
This volume sheds new light on economic developments in several countries of Southeast Europe. The European Union and especially the eurozone continue to experience rhythms of fiscal crisis, as can most clearly be seen in the debt crisis in the South Periphery. Despite the fact that several measures and decisions have been taken to deal with the crisis (banking union, liquidity support from the European Central Bank), proposals to reform Europe's strategic policy in order to find a way out of the crisis have been put forward.This book explores the respective roles that specific sectors, e.g. the agricultural sector, social capital, tax policies and labour immigration, can play in this regard. The importance of international economic relations (exports, imports, FDI, exchange rates) is analysed, in order to illustrate the nature of the economic developments and the major economic difficulties these countries face.
- Published
- 2016
10. Monetary Analysis at Central Banks
- Author
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David Cobham and David Cobham
- Subjects
- Monetary policy, Banks and banking, Central
- Abstract
Whatever happened to the money supply? This book explains how the analysis of monetary and credit aggregates is undertaken at the Bank of England, the European Central Bank and (as an example of a developing country) the Bank of Tanzania. The book also explores how this analysis relates to these central banks'monetary policy strategies and how it feeds into policymaking. An editorial introduction provides the intellectual and historical background – from the contributions of key economists such as Milton Friedman and Jacques Polak, to monetary targeting and inflation targeting – and argues that central banks and policy analysts would be foolish to neglect the insights monetary analysis can offer. The papers compiled in Monetary Analysis at Central Banks demonstrate just how useful and varied those insights are.
- Published
- 2016
11. Lending, Investments and the Financial Crisis
- Author
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Elena Beccalli, Federica Poli, Elena Beccalli, and Federica Poli
- Subjects
- Credit, Bank loans, Business enterprises--Finance, Financial crises, Investments
- Abstract
This book features contributions from leading researchers into the effect of the recent financial crisis on lending in the banking sector. They explore the emergence of alternative methods of firm financing, including crowdfunding, firm network financing and venture capital, and analyse the performance of listed European innovative firms. The book discusses related topics such as the role of loan dynamics and structure for Central and Eastern European economic growth, the liquidity policy of the European Central Bank during the Euro crisis, sovereign pensions and social security reserve funds. Lending, Investments and the Financial Crisis addresses the ways in which the strategies of institutional investors have been impacted by the crisis. The study focuses on Western, Central and Eastern Europe, while providing a wider context in terms of comparison with the Chinese banking system.
- Published
- 2015
12. Stabilising Capitalism : A Greater Role for Central Banks
- Author
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Pierluigi Ciocca and Pierluigi Ciocca
- Subjects
- Capitalism--Europe, Banks and banking, Central--Europe, Monetary policy--Europe
- Abstract
The role of central banks as a hinge on which the financial system rests has returned to the top of the political agenda in recent years. The global financial crisis has resulted in many changes for central banks, including renewed power in financial supervision and reduced restrictions in their implementation of monetary policies. This book argues that central banks play a key role in financial systems, presenting the European Central Bank as a specific example of an institution that uses its uniquely independent position and wide margins of discretion to provide an array of important functions. It illustrates how central banks promote the security and efficiency of payment systems, pursue price stability, and accommodate the optimal utilization of the resources, labour and capital available to an economy. Stabilising Capitalism demonstrates how these institutions also aid in dealing with the risk of financial collapse and permit the continuity of public expenditure when the government is unable to place securities in the bond market. The author concludes by suggesting that although many consider the idea of this role for central banks to be outdated, these institutions form the root of the capitalist market economy and act as a bastion against financial instability.
- Published
- 2015
13. Organisation of Banking Regulation
- Author
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Alexander Wellerdt and Alexander Wellerdt
- Subjects
- Banking law
- Abstract
This book illustrates the interaction of banking regulators and discusses with it related legal and economic challenges. First, the importance of administrative organisations for the implementation of regulatory law towards banks and financial institutions is shown. On this basis five model types of administrative organisations in the field of banking regulation are derived. Thereby, banking regulators can be classified due to their influence on regulatory decisions. Their influence runs from preparation across enforcement to control of regulatory decisions. In particular, the cooperation of the European Central Bank with national banking regulators is analysed. Finally, the main legal and economic arguments of Banking Regulation in the Economic and Monetary Union are discussed.
- Published
- 2015
14. Currency Wars
- Author
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Hilary White, Laura Alfaro, Hilary White, and Laura Alfaro
- Abstract
In February 2013, the G-20 finance ministers met in Moscow, Russia to discuss the rising anxieties over a potential international currency war. It was speculated that certain countries were purposely devaluing their currencies in order to improve their competitiveness in global markets. Emerging markets contended that the expansionary monetary policies of the major central banks, such as the US Federal Reserve, European Central Bank, and the Bank of England, were causing significant and detrimental spillover effects, such as currency appreciation, declining exports, and rising inflation, in less developed economies. Conversely, the major central banks insisted that such policies were necessary for reviving economic growth both domestically and internationally. Would these policies successfully create a resurgence of growth? Can expansionary monetary policies be considered'beggar-thy-neighbor'actions by emerging markets? How should developing nations respond?
- Published
- 2013
15. Monetary Policy Instruments for European Monetary Union
- Author
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Lukas Menkhoff and Lukas Menkhoff
- Subjects
- Macroeconomics, Economics, Finance
- Abstract
Taking the Bundesbank's instruments as a starting point, this book discusses monetary policy instruments of a future European Central Bank. The book offers a systematic analysis of the issue, considering general theoretical arguments as well as the institutional situation in European countries.
- Published
- 2013
16. Schuman Report on Europe : State of the Union 2012
- Author
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Foundation Schuman and Foundation Schuman
- Subjects
- Economic policy, Europe—Economic integration, Macroeconomics, Law and economics
- Abstract
The Schuman 2012 Report on the State of the Union is both a reference and a tool. A reference: bringing together contributions from leading specialists, including an interview with Jean-Claude Trichet, former President of the European Central Bank. This Report proposes a novel analytical framework, so that everyone can form his/her opinion on a series of key questions: The European Union and the Crisis : between doubts and necessity Facing the Economic and Financial Crisis: strategy for growth and employment Europe and the New World (Im)balance A tool: with its thirty original colour maps it brings together essential information. The summary of political Europe: analysis of European elections 2011, calendar of the elections in 2012, political and economic representation of women in Europe, normative production of the Union in 2011, European Opinion in 2011 Europe in Figures: a new series of statistics and maps, covering all major current issues (growth, purchasing power, economic policy, demography, immigration, energy, environment, globalization, European policies,...). The key to understanding the European dynamic. Under the direction of T. Chopin and M. Foucher, the following people have contributed to this book: J-C. Trichet, J. P. Jouyet, M.Barnier, A. Lamassoure, C.Coelho, J. Bitterlich, J-P. Herteman, W. Martens, J-D. Giuliani, P.Hassner, C. de Boissieu, S.Hill, M.Lemoine, N.Gnesotto, L. Martinez, P. Joannin, S. de Corte, B.Aguilera-Barchet, C. Deloy, P-A. Molina, F. Lirzin, S. Paulo.
- Published
- 2012
17. Aspects of Central Bank Policy Making
- Author
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Zvi Eckstein and Zvi Eckstein
- Subjects
- Banks and banking, Central--Congresses
- Abstract
This volume is a collection of papers which were presented and discussed at a conference on'Aspects of Central Bank Policy Making'which took place in January 1990 at the Bank of Israel and Tel Aviv University. The conference marked the tenth anniversary of the passing of David Horowitz who was the first governor of the Bank of Israel. The conference was sponsored by the Bank of Israel and the David Horowitz Institute for the Research of Developing Countries at Tel Aviv University. Eitan Berglas, Zvi Eckstein and Mordechai Fraenkel served as organizing committee. The volume has three parts. The first part deals with the rules and the constraints that are fundamental for central bank policy making. It starts with a critical review of 75 years of monetary policy of the U.S. Federal Reserve Bank, followed by several studies directed at the issues concerning the establishment of a European central bank. The second part deals with the insurance, regulation and safety of commercial banks. The last part contains analysis of monetary policies in Germany and Israel. Part of the research included in this volume is the result of a two years research project on'Central Bank Policies, Disinflation and the Macroeconomy'conducted at the David Horowitz Institute. The contributors to this project were: the Bundesbank, the Bank of England, the Bank of Italy, the Bank of Israel, the Bank for International Settlements and the Bank of the Netherlands.
- Published
- 2012
18. Can the Eurozone Survive?
- Author
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Dante Roscini, Jonathan Schlefer, Dante Roscini, and Jonathan Schlefer
- Abstract
The sovereign debt crisis that took Greece by storm in 2010 began to spread to other European markets. Within a few months Ireland and Portugal had also lost access to the sovereign debt markets and had to rely on supranational loans for their financing. The risk of further contagion was clear and present. Political leaders continued to seek measures to stem the crisis and to avoid the larger economies of Spain and Italy becoming involved. The European financial system became strained. Banks were found to be undercapitalized and began to ration credit to the economy. The European Central Bank intervened to provide liquidity to the system in order to avoid a credit crunch. Could the eurozone survive the storm?
- Published
- 2012
19. The Greek Crisis: Tragedy or Opportunity?
- Author
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Dante Roscini, Jonathan Schlefer, Konstantinos Dimitriou, Dante Roscini, Jonathan Schlefer, and Konstantinos Dimitriou
- Abstract
After its 2009-2010 fiscal crisis shook the euro, could the Greek government stabilize debt, avoid default, and stay on the euro? This case looks at the Greek social and political road to fiscal crisis; the economics of that crisis and efforts to recover from it; the danger the crisis posed to the euro; cooperation and conflict among European states, the European Central Bank, and the International Monetary Fund to try to help Greece emerge from crisis; and the role financial markets played in these events.
- Published
- 2011
20. Steering Monetary Policy Through Unprecedented Crises
- Author
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Cole Bolton, David A. Moss, Cole Bolton, and David A. Moss
- Abstract
In early April 2008, economic conditions in Europe appeared to be deteriorating on almost all fronts: sales figures were falling, business and consumer confidence were slumping, forecasts for European growth were being revised downward, and inflation was rising. In fact, figures for the month of March revealed that inflation had reached an annualized rate of 3.5%, Europe's highest level since 1992. On top of these broad economic problems, the European financial sector-indeed, the financial sector worldwide-was in turmoil. By April 2008, global financial institutions had written down the value of their mortgage-related investments and other assets by at least $230 billion, and businesses around the world were complaining that it was ever more difficult to secure credit. In America, meanwhile, consumer confidence was falling, consumer spending had slowed to a near halt, and inflation had crept above 4%. In reaction to these dismal economic conditions, the Federal Reserve had steadily cut interest rates over a seven-month period, most recently lowering its key rate to 2.25% on March18. In sharp contrast to the Fed, the European Central Bank (ECB) had long held its key rate at 4%, where it stood when the ECB's Governing Council reconvened on April 10, 2008. Given both the market turmoil and the evident inflationary pressure, members of the ECB's Governing Council would have to weigh the available data extremely carefully as they decided whether to raise, lower, or maintain their benchmark interest rate. The significance of this decision could hardly be overstated, since it had the potential to send a strong signal about the nature of European monetary policy and the priorities of the ECB going forward.
- Published
- 2011
21. 希腊危机:悲剧还是契机?
- Author
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Dante Roscini, Jonathan Schlefer, Konstantinos Dimitriou, Dante Roscini, Jonathan Schlefer, and Konstantinos Dimitriou
- Abstract
After its 2009-2010 fiscal crisis shook the euro, could the Greek government stabilize debt, avoid default, and stay on the euro? This case looks at the Greek social and political road to fiscal crisis; the economics of that crisis and efforts to recover from it; the danger the crisis posed to the euro; cooperation and conflict among European states, the European Central Bank, and the International Monetary Fund to try to help Greece emerge from crisis; and the role financial markets played in these events.
- Published
- 2011
22. Uncovering Changing Relations in Financial and Monetary Economics
- Author
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Barbara Meller and Barbara Meller
- Abstract
In her doctoral thesis, Barbara Meller compiles her work on applied econometrics focusing on policy decision making in financial and monetary economics.In the first part of the book, the effect of financial globalization on the volatility of economic growth is empirically examined in a large sample of countries. The analysis provides clear criteria which countries should fulfill in order to benefit from financial globalization in terms of reduced volatility. In general, financial globalization is more favorable for countries with a higher ability to repay debt. The focus of the second part of the book is inflation persistence which is measured using long-memory techniques. As inflation persistence is one of the most crucial parameters affecting monetary policy, the analyses have important implications for the evaluation and conduct of monetary policy. In particular, the impact of the formation of the European Central Bank on inflation persistence is analyzed using panel fractional integration estimation. It is concluded that inflation persistence has decreased probably as a result of the more effective monetary policy of the ECB. Moreover, a new test to find a break in long-run persistence at unknown timing is introduced. Applied to US inflation rate, the test indicates that persistence has increased in 1973 and decreased in 1980.
- Published
- 2011
23. Inflation Expectations
- Author
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Peter J. N. Sinclair and Peter J. N. Sinclair
- Subjects
- Inflation (Finance), Rational expectations (Economic theory)
- Abstract
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
- Published
- 2010
24. Regional Monetary Policy
- Author
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Carlos Javier Rodriguez Fuentes and Carlos Javier Rodriguez Fuentes
- Subjects
- Monetary policy, Regional economics
- Abstract
With the final phase of the European Monetary Union underway, concern has been raised over the regional implications of the European Central Bank (ECB) Monetary Policy. Departing from the standard approach utilized by the ECB, this book provides a comprehensive theoretical framework to explore the ways through which money and monetary policy may affect regions.Carlos Rodriguez Fuentes, the rising star of Spanish economics, has produced a work of impressive clarity which analyzes the effects of regional monetary policy - with particular reference to European Monetary Union. Here, he examines the role that the banking system and the liquidity preference of economic agents play in the transmission of central banks monetary policy decisions to regions within a country or countries within a currency union. Rodriguez Fuentes utilizes a unique framework built upon the basic principle of the Post-Keynsian monetary theory which enables the identification of a new way for money and monetary policy to have a regional impact; the behavioural effect. This book, with it's combination of literary and empirical approach will prove essential reading for all students of economics and politics, as well as readers who interested in the development of the European Union.
- Published
- 2005
25. Regional Integration in Europe and Latin America : Monetary and Financial Aspects
- Author
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Pierre van der Haegen and Pierre van der Haegen
- Subjects
- HC241
- Abstract
Originally published in 2004. This comprehensive collection provides an innovative analysis and a comparison between economic and financial integration in Europe and Latin America, addressed from a global, regional and country-specific perspective. It constitutes a valuable overview focusing on three topics: regional integration and monetary cooperation in Europe and Latin America, exchange rate strategies and financial sector structure. The collection is the outcome of a Workshop and high-level Seminar organized by the Banco de España and the European Central Bank that brought together senior European and Latin American central bankers, as well as senior representatives from international institutions. The 31 contributors presented high quality papers, allowing the reader to take advantage of a rigorous economic analysis that uses first-hand information and draws useful lessons for the future.
- Published
- 2004
26. Business Ethics: Ethical Decision Making and Social Responsibility
- Author
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Adamou, Maria, Henry Davies, Adamou, Maria, and Henry Davies
- Abstract
Provides a comprehensive coverage of the theories of business Ethics and emphasises the importance of ethical principles in overcoming moral dilemmas in the business world. The book aims at enhancing the ethical awareness and decision-making skills of business managers and will assist them in addressing their concerns. This book helps readers to develop the Reasoning and Analytical skills needed to apply ethical concepts to business. This book not only intends to serve the students of management, but also be useful for scholars, researchers and practitioners, economists, policy makers and social scientists.
- Published
- 2025
27. Digital Financial Inclusion : Towards Inclusive and Sustainable Finance for All
- Author
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Peter Goldfinch and Peter Goldfinch
- Subjects
- Electronic funds transfers, Finance--Technological innovations, Finance--Technological innovations--Social aspects
- Abstract
With the arrival of the ‘Internet of Things'(IoT), smartphones, real-time payments systems, plus FinTech activity, Financial Inclusion services can now be integrated into a country's National Payment System (NPS), which means there should be no systemic barriers to transitioning the socio-economic pyramid, as actors build their financial status. This, however, is not the case. This book is a comprehensive guide to understanding the transition of financial services from cash-based to digital-based systems, with a focus on Financial Inclusion.It explores the success of Financial Inclusion programs in promoting economic activity and lifting people out of poverty. It does not concentrate on a single deployment or approach, rather, it takes a broader view. The book surveys the technology and infrastructure required to build digital payment systems, as well as the regulatory and governance frameworks that enable their operation, however, the major focus is on the incorporation of these financial services within communities in order to deliver social outcomes. The book opens the conversation, proposing a new method of measuring Financial Inclusion. It takes a critical but constructive look at the field over the last 20+ years and discusses the key learnings. It examines the Kenya mobile money approach to Financial Inclusion, compared with the Indian bank lead approach, and delivers a broad-based plan on how the programs can be more effective in the future.Financial Inclusion requires a pathway to progress, through a period of technology transformation. The foundation is provided by this book and the reader, on finishing it, will have a comprehensive appreciation of the subject matter.
- Published
- 2025
28. Safe Assets in the Global Economy : Supply, Demand and Financial Stability
- Author
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Joanna Bogołębska, Ewa Feder-Sempach, Ewa Stawasz-Grabowska, Joanna Bogołębska, Ewa Feder-Sempach, and Ewa Stawasz-Grabowska
- Subjects
- Financial institutions--Investments, Financial instruments, International finance, Investment analysis
- Abstract
Safe assets constitute an essential component of the contemporary, international financial system and are vital to its stability. As they are perceived as risk-free assets, they are a special type of financial instrument. Although the vast majority of safe assets are issued by governments, due to the increasing interdependence of economies, resulting from the liberalisation of capital flows, financial openness and the ineffectiveness of the international monetary system, issues relating to their significance, creation and allocation are global. This book combines theoretical threads by systematising the concept and characteristics of safe assets against the background of alternative financial instruments with empirical analyses that present trends in shaping demand, supply, price conditions and various interdependencies in the financial markets. It shows the position and role of safe assets in the global financial sector, in the context of ongoing challenges, such as the evolution of forms of money and the processes of currency competition, the outbreak of financial and economic crises, the accumulation of foreign exchange reserves, financial innovations, the scale of securitisation and monetary integration. Although safe assets are not a new category of financial assets, they are inherently connected with the evolution of money. Thus, this book examines the determinants of their creation, motives of holding and the consequences of a shortage – all within the changing nature of the international financial system. Historical, political and institutional backgrounds are taken into account. This book will appeal to researchers, scholars and advanced students of macroeconomics, international finance and economics, investment analysis, financial economics and econometrics.
- Published
- 2025
29. Identity Economics : Multidisciplinary Insights Into Decision-Making Behavior
- Author
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Meral Uzunöz Altan, Meltem İnce Yenilmez, Oğuzhan Altınkoz, Sinem Bağçe, Meral Uzunöz Altan, Meltem İnce Yenilmez, Oğuzhan Altınkoz, and Sinem Bağçe
- Subjects
- Decision making, Identity (Psychology)--Economic aspects, Group identity--Economic aspects, Economics--Sociological aspects, Economics--Psychological aspects
- Abstract
Critics contend that identity economics overemphasizes social identities as drivers of economic activity, potentially obscuring other elements including personal preferences, incentives, and market pressures. Identity-related notions are challenging to measure and quantify meaningfully and rigorously, which is one of the most common criticisms. Identity economics has long been debated by economic scientists and practitioners, but it is still considered to be in its infancy, which also draws attention to the absence of a clear consensus and solid empirical support. This book fills that gap by providing an in-depth analysis of the main claims made in favour of identity economics.It explores the reliability of identity-based explanations, the difficulties with measurement and quantification, concerns about overgeneralization and essentialism, the function of economic institutions, policy implications, a lack of agreement and empirical evidence, and considerations of intersectionality and multidimensionality. The book considers three interrelated aims. Firstly, it familiarizes readers with the concept of Identity Economics. Secondly, and essentially, it persuades a larger audience of the relevance and creativity of this sector, and thirdly, it advocates for the applicability of the approach to the field of knowledge. The focus of the examination centres around these three objectives. Few would argue that identity impacts our decisions but given that solid theory is predicated on good abstraction, the real question is whether we lose anything by excluding identity from the theory.The book skilfully weaves together the literature from several disciplines including regional, gender, labour, social areas of studies, thus academics, students, and researchers in these fields will find the individual contributions useful for their respective areas of study.
- Published
- 2025
30. International Economics Vol 2
- Author
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Katz, Steven, Simon Katz, Katz, Steven, and Simon Katz
- Abstract
'International Economics provides information about fundamental institutions and relationships that affect quality of life and provides a framework for thinking through and understanding the process of decision making. The text is designed as a primary text for an introduction to basic economics or principles of economics and offers a balanced presentation of macroeconomics and microeconomics. Can be used in international relations, development policy, and international business programs, making it accessible to a large audience across disciplines This book provides a valuable resource for individuals in the corporate world, professionals, and students studying international economics.'
- Published
- 2025
31. International Finance: Theory and Policy
- Author
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Cox, Sarah, Albert Allen, Cox, Sarah, and Albert Allen
- Abstract
It provides engaging, balanced coverage of the key concepts and practical applications of the discipline. An intuitive introduction to international finance theory is followed by detailed coverage of policy applications. The text presents a balance of theoretical and practical coverage of international finance. The book will be of interest to students, teachers and professional engaged in the field of economics, finance, management, commerce and marketing.
- Published
- 2025
32. International Business: Competing in The Global Marketplace
- Author
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Wilson, Adam, Henry James, Wilson, Adam, and Henry James
- Abstract
It is a comprehensive textbook with examples and cases from across the world. The subject matter is presented in a lucid and succinct style so that even those who do not have a prerequisite knowledge of the subject can easily understand it. It is intended to help students learn by means of practical examples and is an easy-to-use text for self-tuition. The book is primarily intended for the undergraduate and postgraduate students of management and commerce. Besides, it will also prove useful for the postgraduate students of economics.
- Published
- 2025
33. The Economics of Russia’s War in Ukraine : Impact Analysis of Economic Policy and Finance
- Author
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Nataliya Struk, Maryana Prokop, Oleksandra Struk, Nataliya Struk, Maryana Prokop, and Oleksandra Struk
- Subjects
- Russian Invasion of Ukraine, 2022
- Abstract
The Economics of Russia's War in Ukraine provides a thorough analysis of the Russo-Ukrainian war, tracing its historical roots and exploring its multifaceted dimensions. This book emphasizes economic, geopolitical, and humanitarian impacts, highlighting Ukraine's resilience amid challenges. At the same time, this study examines the EU's dynamic responses to economic crises and energy transition, the consequences of the war on global trade dynamics, and the significant influence of geopolitical events on financial markets. It underscores the EU's commitment to aiding Ukraine, enhancing its security, and increasing defence spending in response to evolving geopolitical complexities. The impact of the invasion on financial markets and the vulnerabilities of the banking sector are closely examined, highlighting the complex relationship between geopolitics and the global economy. Findings suggest that the priorities for the post-war reconstruction of Ukraine include addressing human capital and demographics, employment opportunities, environmental protection, infrastructure and housing reconstruction, security and mine clearance, waste recycling, agriculture and food security, digital transformation, social protection and healthcare, and education and research. This book therefore argues that a comprehensive, integrated approach with international support is crucial for Ukraine's recovery and sustainable economic growth.The Economics of Russia's War in Ukraine will be useful for scholars, students, professionals, policy makers, all interested in economics, international relations, security, and global studies, as well as all those wishing to have a thorough and clear understanding of the backdrop of Russia's invasion of Ukraine in February 2022 and its influence on Europe.
- Published
- 2025
34. G20 Economic Policy : A Balance of Payments Framework
- Author
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Marcello Minenna and Marcello Minenna
- Subjects
- Economic policy--International cooperation, International economic relations, Economic policy, Geopolitics, Economic development--International cooperation
- Abstract
This book examines the statistics of the G-20 members with the goal of providing an analysis of their economic policies, with a particular emphasis on the financial dynamics of each country's Balance of Payments, in order to offer a framework for better understanding where we are headed in an era of great economic and geopolitical reconfiguration.Furthermore, it delves into the current challenges to the US-led monopolar world that emerged after the collapse of the Soviet Union, beginning with the rise of China and India alongside Russia, and their potential role in reshaping the global financial system. The focus also extends to South America, where economies such as Brazil and Argentina are navigating complex relationships with traditional allies and emerging global powers. Africa's position in this evolving landscape is also analyzed, highlighting its growing autonomy as exemplified by the African Union's inclusion in the G-20. Furthermore, the Middle East is undergoing a remarkable geopolitical shift, undoubtedly representing another node of power in the emerging economic chessboard. These geopolitical dynamics are further complicated by major global events, including the 2008 global financial crisis, the Eurozone sovereign debt crisis, the COVID-19 pandemic in 2020, and the Russo-Ukrainian conflict in 2022. Pressing challenges are also posed by the climate emergency, highlighting its direct impact on productivity and migration patterns.Finally, this book seeks to contribute to a nuanced understanding of the current economic realities of key global actors and their complex interplay with geopolitical choices. Based on a scholarly approach, the analysis provides insights into the complex and evolving global order.
- Published
- 2025
35. Trust and Artificial Intelligence : Development and Application of AI Technology
- Author
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Joanna Paliszkiewicz, Jerzy Gołuchowski, Joanna Paliszkiewicz, and Jerzy Gołuchowski
- Subjects
- Artificial intelligence--Moral and ethical aspects, Artificial intelligence--Social aspects, Trust
- Abstract
Trust and Artificial Intelligence: Development and Application of AI Technology explores the crucial role of trust in the development and application of artificial intelligence (AI) technology. The book discusses the challenges and opportunities associated with building trust in AI systems and highlights the importance of transparency, accountability, and ethics in creating trustworthy AI. Drawing on the latest research and case studies, the book provides valuable insights and practical strategies for building trust in AI that can be applied by developers, policymakers, and end-users. It is a must-read for anyone interested in the intersection of technology and society and the future of artificial intelligence.Across its two distinct sections, the book delves deep into both theoretical frameworks and real-world applications. Section I,'Trust in Artificial Intelligence Technology,'comprises 12 insightful chapters, each shedding light on different aspects of trust in AI. From ethical considerations and the credibility of AI systems to the intricacies of blockchain technology and digital therapists, the book offers a kaleidoscope of perspectives, showcasing how trust shapes and is shaped by AI advancements. Section II,'Trust in Artificial Intelligence Technology Applications,'extends the discourse to practical implications and case studies. With 12 additional chapters, it scrutinizes the impact of AI on diverse sectors such as healthcare, agriculture, the labor market, and online shopping. It contemplates the trust dynamics in neural networks, public sector AI, and the burgeoning field of last-mile logistics.The book is more than just an academic text; it is a vital conversation starter in the ever-evolving discourse of AI. It challenges us to rethink our relationship with technology, underlining the critical role of trust in harnessing the full potential of AI for a better, more efficient, and ethically sound future.
- Published
- 2025
36. Accounting, Accountability and Crisis Management : Lessons From Italy's Pandemic Response
- Author
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Ericka Costa, Massimo Contrafatto, Lee Parker, Ericka Costa, Massimo Contrafatto, and Lee Parker
- Subjects
- Crisis management--Italy, Accounting--Italy, COVID-19 Pandemic, 2020---Economic aspects--Italy, Organizational resilience--Italy
- Abstract
Conventional economic and accounting systems have been exposed by the limitations of market-driven mechanisms, where public services, education and healthcare have been subordinated to profit, exacerbating the inequalities between people and countries. Italy was one of the earliest countries to be affected by the COVID-19 pandemic and also one of the hardest-hit. The successes and failures of the Italian response provides a blueprint for the factors determining the ability of institutions to meet these challenges. This book presents a multifaceted analysis and reflection of the challenges that various types of organisations - public, private and non-profit - have had to face during the pandemic.It contributes to the creation of robust strategies for institutions worldwide to be able to respond promptly and equitably to future emergencies and offers insights for developing policy and practice, with respect to global leaders'accountability for and management of exceptional events. It addresses three main subjects: extraordinary events and their challenges for business and organisations; the nature and roles of interdisciplinary accounting and accountability in a pandemic environment; and how the global pandemic is impacting accounting and accountability in diverse contexts, such as public services, healthcare, education, and NGOs.With a focus on institutional approaches to establishing, maintaining and discharging accountability throughout the pandemic, the insights of this book are invaluable to both students and practitioners seeking to bolster institutional resilience in an increasingly uncertain world. Both management and accounting communities can learn from this extraordinary global event to promote the process of transforming how business and societies operate.
- Published
- 2025
37. US Credit and Payments, 1800-1935, Part II Vol 6
- Author
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Ronnie J Phillips and Ronnie J Phillips
- Abstract
The volumes in this collection are organized thematically and examine the history of key financial institutions before and after the establishment of the Federal Reserve.
- Published
- 2024
38. Understanding Business: 2024 Release ISE
- Author
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NICKELS and NICKELS
- Subjects
- Business--Juvenile literature, Business--Vocational guidance--Juvenile litera
- Abstract
Nickels/McHugh/McHugh, Understanding Business is a market-leading product that meets the needs of nearly all classrooms, no matter the size, teaching modality or learning objectives. The content is unmatched in depth, breadth, currency and relevancy, and is presented in an extremely readable format for students with all learning styles. A wealth of technology solutions through McGraw Hill Connect engages students, enriches learning, furthers understanding, and simplifies instructors'assessment processes. Understanding Business is the Gold Standard in teaching resources with course supplements tightly aligned with chapter concepts to enhance retention and boost student engagement.
- Published
- 2024
39. US Credit and Payments, 1800–1935, Part I Vol 1
- Author
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Ronnie J Phillips and Ronnie J Phillips
- Abstract
The volumes in this collection are organized thematically and examine the history of key financial institutions before and after the establishment of the Federal Reserve.
- Published
- 2024
40. Financial Markets & Institutions
- Author
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Jeff Madura, Ohaness Paskelian, Jeff Madura, and Ohaness Paskelian
- Abstract
Develop a clear understanding of why financial markets exist, how financial institutions serve these markets and what services those institutions offer with Madura/Paskelian's best-selling FINANCIAL MARKETS & INSTITUTIONS, 14th Edition. Packed with real examples and practical applications, this engaging edition clarifies the management, performance and regulatory aspects of financial institutions. Explore the functions of the Federal Reserve System and the updated tools it uses to conduct monetary policy, major debt, equity security markets and the derivative security markets. Expanded coverage now discusses stock valuation, market microstructure strategies and liquidity in today's financial markets. In addition, a new chapter explains how financial technology is changing the role and functions of financial institutions and providing new popular sources of funding, such as crowdfunding.
- Published
- 2024
41. Entrepreneurship in the Arts
- Author
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Bonita M. Kolb and Bonita M. Kolb
- Subjects
- HB615
- Abstract
The need for artists, musicians, actors, singers, designers and other creative individuals to understand basic business concepts so they can successfully pursue their chosen creative profession has only grown since the publication of this textbook, now in its third edition. This popular book teaches business concepts in a way that is relevant to the way that creative students learn.Providing an understanding of the fundamental skills of entrepreneurship, this book enables creatives to launch new businesses, run for‑profit creative industries or manage nonprofit cultural organizations. The book leads the student through the entrepreneurial process starting with finding the right customers to pricing, distribution and promotion. This latest edition has been updated to account for significant changes in the creative industries that have been accelerated by the use of AI in the production of creative products, the challenge of pricing products within a range acceptable to consumers while accounting for the rising cost of production and the increasing need to use social listening skills and technology as a basis of consumer research.Weaving practical advice from successful creatives with pedagogical features such as'Questions to Consider,''Tasks to Complete'and'Visualization Exercises,'this textbook continues to be essential reading for creative students.
- Published
- 2024
42. Inequality: Economic and Social Issues
- Author
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Mats Lundahl, Daniel Rauhut, Neelambar Hatti, Mats Lundahl, Daniel Rauhut, and Neelambar Hatti
- Subjects
- Equality
- Abstract
Inequalities of opportunity affect a person's life expectancy and access to basic services and human rights through discrimination, abuse, and lack of access to justice. High levels of inequality of opportunity discourage skill accumulation, choke economic and social mobility, and, consequently, depress economic growth. Inequality also entrenches uncertainty, vulnerability, and insecurity; undermines trust in institutions and government, increases social discord and tensions, and triggers violence and conflicts. This book presents wide-ranging perspectives on economic inequality, as measured by differences in incomes and wealth. The contributors to the book explore how the economy is shaped in such a way as to generate differences in economic and social welfare between individuals, regions, and nations. But the book is not limited to economic perspectives: inequality is a many-faceted phenomenon that manifests itself in a number of ways.Thus, the book begins with a section which highlights some of the ‘standard'features of inequality: class, gender, and age. The second section explores the manifestation of inequality in terms of differences in income and wealth. The third section looks at some of the causes of inequality, exploring the effects of discrimination and plunder (by those in power). The final section serves to drive home the point that geographic and institutional factors have an important place as well when it comes to shedding light on what equality is, how it manifests itself, and what its consequences are.This book will be essential reading for anyone interested in the causes and consequences of economic inequality including those in economics, sociology, politics, and geography.
- Published
- 2024
43. Strategic International Marketing : Strategy Development and Implementation
- Author
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Carl Arthur Solberg, Håvard Huse, Carl Arthur Solberg, and Håvard Huse
- Subjects
- Marketing--Management, Marketing--Cross-cultural studies
- Abstract
Strategic International Marketing, 2e offers a uniquely adaptable strategy framework for firms of all sizes that are looking to internationalise their business, using Carl Arthur Solberg's tried and tested Nine Strategic Windows model.Compact and readable, this practical text offers the reader insights into the globalisation phenomenon, partner relations and strategic positioning in international markets. This 2nd edition has been fully updated to include coverage of the complex international business environment, consider how technological development has shaped buyer behaviour, channels of distribution and payments systems globally, and the impact of digitalisation on the global economy more broadly. New international case studies and examples are included throughout to demonstrate how the theory translated into practice.This text is strategic and applied, and an ideal introduction to international marketing for advanced undergraduates and postgraduates in Business and Management, as well as those studying for MBAs and executive qualifications. It also offers a pragmatic toolkit for managers and marketers that are seeking to expand their business into new territories. Supplementary online resources are available to aid instructors.
- Published
- 2024
44. Perspectives on Economics and Management : Essays in Honour of Anindya Sen
- Author
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Saibal Ghosh, Partha Ray, Saibal Ghosh, and Partha Ray
- Subjects
- Economics, Management, Managerial economics
- Abstract
The world of economics and management is being reshaped in more ways than one including rapid advancements in technology and business practices. This book weaves together a diverse set of issues such as consumption patterns, wealth disparities and the management, behaviour and financial health of businesses and consumers to analyse the effectiveness of economic and business strategies. Rapid technological advancements along with the need for cost-effectiveness and convenience are making service providers embrace technology as a partner rather than a tool in their economic journey. Relatedly, traditional management philosophy is coming under a scanner, with an increasing emphasis on holistic development of the organization, rather than a top-down approach, as has been the case in the past. Understanding major developments in economic and financial policymaking has perennially been a key concern of public policy, shaped by recent global and related developments, this has necessitated a relook at these issues, couched in a cross-cutting perspective. Viewed from this standpoint, the present volume, written to honour the rich academic work of the eminent economist Professor Anindya Sen intersects this triad of economics, finance and public policy that are integral to policy thinking and its formulation. The smorgasbord of research ideas, involving both theoretical analysis and empirical evidence, presented in this volume, provides useful perspectives on the drivers that are continually reshaping the dynamism in the world around us and, in the process, integrates a multidisciplinary perspective of focusing on several pertinent policy challenges.This book will be useful to researchers and students of economics, finance and public policy, economic theorists, microeconomics, and even to those with a broader canvass such as researchers in macroeconomics, international economics, business, management and marketing.
- Published
- 2024
45. Contemporary Economics : An Applications Approach
- Author
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Robert Carbaugh and Robert Carbaugh
- Subjects
- Economics
- Abstract
The ninth edition of Contemporary Economics continues to offer a clear, concise presentation of basic micro- and macroeconomic theory. Emphasizing how the discipline of economics connects to the world, the book takes a friendly and accessible tone, illustrating theory with applications.This new edition comes with updated applications and data to reflect the changing world events and contemporary issues since the previous edition was published. With a vast range of updated applications, the handbook uses real-world, globally relevant examples that make the subject easy to understand.Including a suite of digital resources including instructor's manual, lecture slides, and test bank, Contemporary Economics is suitable for both economics students and non-majors studying economics and economic issues at the introductory level.
- Published
- 2024
46. The Heart of Leadership
- Author
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Giovanni Battista Vacchi, Danilo Zatta, Giovanni Battista Vacchi, and Danilo Zatta
- Subjects
- Executive ability, Leadership
- Abstract
Squarely aimed at leaders and aspiring leaders, The Heart of Leadership, written by two renowned management experts, presents practical examples and engaging insights to answer the key question of how to be a successful leader.This book reveals the key characteristics of a great leader and shows you how to develop the skills needed to motivate your team and overcome challenges. Leadership means successfully taking your place at the head of an enterprise and is both a shared journey and an adventure over the course of a career. Using an engaging and accessible style throughout, the book maps out how to achieve tangible results. It presents portrayals of some of history's greatest leaders, from Gandhi to Steve Jobs, from Angela Merkel to Lisa Su, in order to inspire and help develop your own top leadership skills.This book is essential reading for CEOs, CFOs, HR managers, entrepreneurs, trainers, and those who are seeking a leadership position in an organization and want to understand how to succeed within it.
- Published
- 2024
47. Understanding Payments : A Whistle-Stop Tour Into What You Thought You Knew
- Author
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Neira Jones and Neira Jones
- Subjects
- Electronic funds transfers
- Abstract
This is the book for professionals in the payments industry. Written in an engaging and accessible style, it enables new and experienced payments practitioners alike to understand the fundamentals of the various payment ecosystems, and to quickly get up to speed on developments in the industry.From cards to bank and alternative payments, the jargon is debunked and myths are busted. For each ecosystem, a simple framework is used: mechanics, economics, risks, and future outlook, enabling comparison and the evaluation of the best applications in different scenarios. The book also provides an overview of the global regulatory landscape. Drawing on real examples throughout, it weaves together the underpinning ecosystem principles, legislation, and key stakeholders. It offers readers practical advice regarding, and insights into, the key disciplines and equips them with an understanding of the key issues and opportunities. Also including an extensive and comprehensive glossary of terms – the first of its kind in the payments industry – this book will be used as an essential reference for years to come. Understanding Payments will enable payments practitioners, private sector corporations, and regulators to keep up with a fast-evolving and extremely competitive industry. It can be used across businesses to help train staff and as part of continuing professional development, and will be useful to those involved in mergers and acquisitions, investors wanting to understand the industry, professional services firms, law firms and consultants, and policy makers.
- Published
- 2024
48. International Business : Perspectives From Developed and Emerging Markets
- Author
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K. Praveen Parboteeah, John B. Cullen, Sahrok Kim, K. Praveen Parboteeah, John B. Cullen, and Sahrok Kim
- Subjects
- International business enterprises--Management, Business planning
- Abstract
International Business: Perspectives from Developed and Emerging Markets provides students with a balanced perspective on business in a global environment, exploring implications for multinational companies in developed and emerging markets. This is the first text of its kind to emphasize strategic decision-making as the cornerstone of its approach while focusing on emerging markets.Traditional topics, like foreign exchange markets and global competition, are contrasted with emerging operations, like Chinese market intervention and Islamic finance, to provide students with an understanding of successful business strategy. Readers learn to develop and implement these strategies across cultures and across economic, legal, and religious institutions in order to cope with competitive players in the global landscape. Application-based chapters open with reading goals and conclude with case studies and discussion questions to encourage a practical understanding of strategy.This third edition has been thoroughly updated to reflect the latest developments in the field, and includes a host of new features, including: Regular boxed features on responding to crises Regular boxed features on diversity and inclusion New chapter on international entrepreneurship With in-depth analyses and recommended strategies, this edition provides students of international business with the skills they need for success on the global stage. A companion website features an instructor's manual, test bank, PowerPoint slides, and useful links for instructors as well as practice quizzes, flashcards, and web resources for students.
- Published
- 2024
49. Financialization and the Future of the American Economy
- Author
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William K Tabb and William K Tabb
- Subjects
- Financialization--United States
- Abstract
Financialization is a set of processes which has led to a financially driven and commodified economy with rising inequality, tax avoidance, and a lack of investment in the physical and social infrastructure. Given the influence of money politics, and the secular increase in the burden of debt, financialization has produced a deeply flawed economic system which mainstream economists are unable to address. This book discusses the causes and costs of financial crises, how financialization produces inequality and instability, and the patterns of value extraction it enables. It draws on key theoretical traditions, most prominently the writing of Marx, Keynes, and Minsky that illuminate much that is ignored and rejected in mainstream theorizing, including by many who identify as Keynesians. After decades of low interest rates and years of quantitative easing (QE), keeping borrowing costs near zero, many borrowers – households, businesses, banks, shadow banks, and governments – will not be able to finance their debt at the higher interest rates initiated by central banks to address inflation. The resulting stagflation will be global, producing a severe downturn that may be postponed through still greater debt creation but not avoided by conventional means. The book also explores the ways that standard financial criteria contribute to the climate emergency and the manner in which the commodification of nature proceeds from the desire to create new, marketable derivative products. It concludes with a discussion of what needs to be done to move away from a harmful regime of accumulation premised on financialization and to adopt a far better one. This book is essential reading for anyone interested in the causes and consequences of financialization and its impact on the economy.
- Published
- 2024
50. Compreendendo o Real Digital : uma análise do framework para funcionamento e aplicabilidade na realidade brasileira
- Author
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Paulo Vitor Jordão da Gama Silva, Natalia Alves Tavares, Letícia Herculano Magalhães Vieira, Paulo Vitor Jordão da Gama Silva, Natalia Alves Tavares, and Letícia Herculano Magalhães Vieira
- Abstract
Desde 2009, com a criação do conceito de criptoativos, houve uma inovação disruptiva no campo financeiro. Governos ao redor do mundo notaram uma oportunidade para o desenvolvimento de suas próprias moedas (no Brasil, com o Real Digital — DREX). Mas um ponto que carece de atenção é compreender as particularidades da adoção destas Central Bank Digital Currencies (CBDCs). Este livro tem como objetivo principal analisar a dinâmica de operacionalização da proposta da implementação do Real Digital analisando oportunidades, desafios e contexto dessa nova implementação. A proposta das CBDC iniciou nas Bahamas, após o furacão Dorian desestabilizar as estruturas de instituições financeiras, perdendo significativos valores monetários armazenados. O Sand Dollar, moeda digital de Bahamas e pioneira no mundo, foi oficialmente implementada em 2020 tendo certa aceitação da população. Até 2023, apenas quatro países já lançaram suas próprias CBDCs, que são: Bahamas, Nigéria, Jamaica e Caribe Oriental, todos eles passaram por testes-piloto antes da efetiva implementação. No Brasil, a proposta do Real Digital iniciou em 2020 e desde 2021 estão aprimorando as diretrizes para seu uso. Em julho de 2023, dezesseis instituições financeiras se cadastraram para participarem das simulações e há previsão de que ela seja inaugurada em 2025. Com esta leitura, espera-se contribuir para o crescimento da temática no meio acadêmico brasileiro por meio desta profunda revisão bibliográfica de caráter exploratório.
- Published
- 2024
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