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Books > Money & Finance
COVID-19 has spread around the world, causing tremendous structural
change, and severely affecting global supply chains and financial
operations. As such there is a need for analytic tools help deal
with the impact of the pandemic on the world's economies; these
tools are not panaceas and certainly won't cure the problems faced,
but they offer a means to aid governments, firms, and individuals
in coping with specific problems. This book provides an overview of
the COVID-19 pandemic and evaluates its effect on financial and
supply chain operations. It then discusses epidemic modeling,
presenting sources of quantitative and text data, and describing
how models are used to illustrate the pandemic impact on supply
chains, macroeconomic performance on financial operations. It
highlights the specific experiences of the banking system, which
offers predictions of the impact on the Swedish banking sector.
Further, it examines models related to pandemic planning, such as
evaluation of financial contagion, debt risk analysis, and health
system efficiency performance, and addresses specific models of
pandemic parameters. The book demonstrates various tools using
available data on the ongoing COVID-19 pandemic. While it includes
some citations, it focuses on describing the methods and explaining
how they work, rather than on theory. The data sets and software
presented were all selected on the basis of their widespread
availability to any reader with computer links.
Commenting on the quality of the contributors when opening the
conference on which these books are based, the former Governor of
the Bank of England, Sir Edward George, said 'I cannot remember
ever before having had such a galaxy of academic economist and
central banking superstars gathered together under one roof!''
Celebrating the contribution that Charles Goodhart has made to
monetary economics and policy, this unique compendium of original
papers draws together a highly respected group of international
academics, central bankers and financial market regulators covering
a broad range of issues in modern monetary economics. Topics
discussed include: * central bank independence * credibility and
transparency * the inflation forecast and the loss function *
monetary policy experiences in the US and the UK * the implications
of Goodhart's Law * the benefits of single versus multiple
currencies * money, near monies and credit. Each chapter of the
volume relates to subjects that have been research projects in
Charles Goodhart's wide-ranging portfolio, and all are
interconnected. Through these, the book offers a summary of current
thinking and insights into monetary controversies. Covering recent
thinking on monetary theory, central banking, financial regulation
and international finance, academic and professional economists
alike will find this book an invaluable source of information. The
companion volume examines monetary history, exchange rates and
financial markets.
For the first time the complete financial history of Berkshire
Hathaway is available under one cover in chronological format.
Beginning at the origins of the predecessor companies in the
textile industry, the reader can examine the development of the
modern-day conglomerate year-by-year and decade-by-decade, watching
as the struggling textile company morphs into what it has become
today. This comprehensive analysis distils over 10,000 pages of
research material, including Buffett's Chairman's letters,
Berkshire Hathaway annual reports and SEC filings, annual meeting
transcripts, subsidiary financials, and more. The analysis of each
year is supplemented with Buffett's own commentary where relevant,
and examines all important acquisitions, investments, and other
capital allocation decisions. The appendices contain balance
sheets, income statements, statements of cash flows, and key ratios
dating back to the 1930s, materials brought together for the first
time. The structure of the book allows the new student to follow
the logic, reasoning, and capital allocation decisions made by
Warren Buffett and Charlie Munger from the very beginning. Existing
Berkshire shareholders and long-time observers will find new
information and refreshing analysis, and a convenient reference
guide to the decades of financial moves that built the modern-day
respected enterprise that is Berkshire Hathaway.
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Willem Heeringa, Paul Hilbers, Rob Nijskens
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This book analyzes the impact of Basel Accord in Bangladesh. More
specifically, it focuses on the credit risk homogenization under
standardized approach of Basel Accord where External Credit Rating
Agencies (ECAIs) are allowed to rate the exposures, the potential
risk of allowing sub-ordinated debt (Sub-debt) as Tier 2 capital,
and multiple bank distress cases as a real-world scenarios. In
doing so, the book explores why the ECAIs rating fail to capture
the real credit risk of exposure and to what extent sub-debt is
reliable as regulatory capital. With that, the book's scope is
categorized into three tracts (i) analyzes the ECAIs incentive and
sanction issues from institutional economics perspective (ii)
discusses the ill-impact of Naive adoption of sub-ordinated debt as
regulatory capital and its associated risk on financial system, and
(iii) providing readers an empirical illustrations of bank distress
when an economy tapped into institutional failures in the
above-mentioned tracts (i) and (ii).
This four-set volume covers the case for and against banking
regulation, touching upon the design of an optimal regulatory
framework. It also covers deposit insurance, examining the
arguments for and against its adoption and the problems encountered
in its implementation.
This book critically explores past and present principles of
central banking, and outlines a new framework for future
stabilization policy. Through compact and concise chapters, it
demonstrates why a constant long-term interest rate would be the
most beneficial target for monetary policy to follow. A novel set
of policy tools and institutional arrangements suitable to reliably
meet this target are developed. It is argued that the proposed
framework would be clearly superior to conventional policies in
preventing financial market crises, maintaining high employment,
and keeping the economy at or near potential. The merits and
shortcomings of alternative theories such as Modern Monetary Theory
are also discussed. This book will be relevant to researchers and
policymakers as well as professional investors, analysts, and
commentators of financial markets and the economy at large.
This original book is the first serious study investigating the
crowdfunding phenomenon, which has developed deep meaning for
various stakeholders benefiting from this funding collection
mechanism and its innovative new role, especially in the processes
of business creation and spread of entrepreneurship. The actors
involved -promoters, supporters, and the platforms through which
the campaigns are launched - constitute an ecosystem in continuous
evolution, which has grown dramatically and allows for its further
development. Irini Liakopoulou has conducted with the "multiple
paper thesis" method in which original and innovative contributions
are presented, applying new techniques and methodologies. The
book's goal is to foster debate about crowdfunding, an
under-researched topic whose implications are not fully understood
but will be a vital part of social and economic life in the future.
This book considers and assesses essential financial issues by
utilizing data science and fuzzy multiple criteria decision making
(MCDM) methods. It introduces readers to a range of data science
methods, and demonstrates their application in the fields of
business, health, economics, finance and engineering. In addition,
it provides suggestions based on the assessment results on each
topic, which can help to enhance the efficiency of the financial
system and the sustainability of economic development. Given its
scope, the book will help readers broaden their perspective on the
assessment and evaluation of financial issues using data science
and MCDM approaches.
In this book, the authors outline how policymakers in advanced
countries have moved away from exclusive reliance on the public
sector in social service delivery, towards a more multi-faceted
approach that seeks to combine the strengths of public agencies,
private firms and voluntary organizations. This development raises
interesting and complex questions concerning the comparative
advantages of these respective groups in the delivery of goods and
services. The Political Economy of the Voluntary Sector adopts a
comparative institutions approach to assess the strengths and
weaknesses of the government, market and voluntary sectors as
alternative instruments for implementing social and economic
policies. The authors examine existing market failure, government
failure and supply-side models of non-profit organizations before
proposing a new leadership theory of the voluntary sector. They
then explore the interface between the voluntary sector and the
development of social capital. The book culminates in an
investigation of appropriate public policy approaches towards the
voluntary sector. This book will be warmly welcomed by academics,
students, and researchers working on alternative methods of public
policy program delivery, primarily from the disciplines of
economics, political science and public administration.
Practitioners drawn from the public and voluntary sectors, as well
as public policymakers in governments from around the world, will
also find this accessible book of great interest.
While paramount to the modern economy, understanding how the
banking system works has been usually cast aside from overall
economic education. Even in the aftermath of the recent financial
crisis, which has underlined the vital importance of banking in the
economy, the workings of the sector remain a black box. To this
end, this book provides a comprehensive and easy to read review of
the banking sector, covering all issues related to commercial and
investment banking and providing experienced as well as non-expert
readers the opportunity to expand their knowledge on these topics.
After going through the book, readers have the opportunity to gain
a deeper knowledge regarding the commercial and investment
functions of the banking sector and the ability to evaluate the
potential outcome of policy actions.
Under the direction of Nobel laureate Robert A. Mundell and Paul J.
Zak, eminent contributors to Monetary Stability and Economic Growth
offer a unique insight into the way that economists analyse the
causes of money (mis) management in the US, Latin America, Europe
and Japan, and prescribe stabilising reforms. Their lively
discussion provides answers to various questions including: How
does monetary stability affect economic growth? How can nations
best achieve monetary stability? When is monetary union desirable?
Which anchors for monetary stability are likely to be most
effective? How will the euro affect financial markets and the
international monetary system? Is international monetary reform
possible, and how can it be achieved? The mechanisms that link
monetary policy - including foreign exchange regimes and the
international monetary system - to economic performance are
examined, and the ways in which countries can stimulate economic
growth are explored. This superb narrative volume, brought alive by
the debate between leading economists, is contextualised by the
editors' excellent introduction. It will be of immense interest to
students, researchers and teachers of macroeconomics and financial
economics as well as professional economists.
This book invokes the Tawhidi ontological foundation of the
Qur'anic law and worldview, and is also a study of ta'wil, the
esoteric meaning of Qur'anic verses. It presents a comparative
analysis between the Tawhidi methodology and the contemporary
subject of Shari'ah. Masudul Alam Choudhury brings about a serious
criticism of the traditional understanding of Shari'ah as Islamic
law contrary to the holistic socio-scientific worldview of the
unity of knowledge arising from Tawhid as the law. A bold
repudiation of the Islamic traditional understanding and the school
of theocracy, Choudhury's critique is in full consonance with the
Qur'an and Sunnah. It is critical of the sectarian (madhab)
conception of relational independence of facts. Thus the
non-creative outlook of Shari'ah contrasts with universality and
uniqueness of Tawhid as the analytically established law explaining
the monotheistic organic unity of being and becoming in
'everything'. This wide and strict methodological development of
the Tawhidi worldview is articulated in this work. The only way
that Tawhid and Shari'ah can converge as law is in terms of
developing the Tawhidi methodology, purpose and objective of the
universal and unique law in consonance with the ontology of Tawhid.
Such a convergence in the primal ontological sense of Tawhid is
termed as maqasid as-shari'ah al-Tawhid.
In this book a distinguished group of contributors discuss the
changing political economy of pension reform. They focus on those
countries which have launched a significant reframing of their
pension system. Each chapter provides a detailed review of recent
pension reforms and offers institutional evidence of the extent to
which these reforms suggest a redirection of the welfare state
towards a more public-private mix of policies. The countries were
selected to represent the variety of new directions which mature
industrial countries as well as countries in transition have taken.
The book brings to light a number of surprising developments. These
include the observation that pension systems do not conform to pure
models of welfare system regimes; that a number of diverse
developments have contributed to the extension of private pensions;
that an emerging pattern of substituting private for public
pensions can be detected but public provision still dominates in
transition economies and that traditional employer-provided private
pension schemes are undergoing significant change. One conclusion
is that the design of the pension scheme may be more important than
the mix of public-private in preventing the growth of inequality
among the aged. This important book will be essential reading for
scholars of economics, public policy, political science and finance
as well as policymakers and practitioners involved in pension
system reform.
This book aims to bring the insights gained through this process to
the public. It not only promotes the idea of fair wealth itself but
also to gives a holistic view on how Chinese based companies are
doing regarding various aspects of Fair Wealth. It also explains
the theory foundation, methodology and rating system to help people
better understand the evaluation system itself.
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