The Great Financial Crisis, which started in 2007-08, was originally called the 'sub-prime' crisis because its origins could be traced to excessive lending in the real estate sector in the US, concentrated mostly in sunbelt states like Nevada, Florida and California. There were similar pockets of excess lending for housing in Europe, notably in Ireland and Spain. But a key difference emerged later: in Ireland and Spain, the local banking systems almost collapsed and the governments experienced severe financial stress with large macroeconomic costs. Nothing similar happened in the US. The local financial system remained fully functional and the local governments did not experience increased financial stress in the states with the biggest real estate booms, like Nevada or Florida. This book illustrates how the structure of the US banking market and the existence of federal institutions allowed regional financial shocks to be absorbed at the federal level in the US, thus avoiding local financial crisis. The authors argue that the experience of the US shows the importance of a 'banking union' to avoid severe regional (national) financial dislocation in the wake of regional boom and bust cycles. They also discuss the extent to which the institutions of the partial banking union, now in the process of being created for the euro area, should be able to increase its capacity to deal with future regional boom and bust cycles, thereby stabilising the single currency.

The Great Financial Crisis, which started in 2007-08, was originally called the 'sub-prime' crisis because its origins could be traced to excessive lending in the real estate sector in the US, concentrated mostly in sunbelt states like Nevada, Florida and California. There were similar pockets of excess lending for housing in Europe, notably in Ireland and Spain. But a key difference emerged later: in Ireland and Spain, the local banking systems almost collapsed and the governments experienced severe financial stress with large macroeconomic costs. Nothing similar happened in the US. The local financial system remained fully functional and the local governments did not experience increased financial stress in the states with the biggest real estate booms, like Nevada or Florida. This book illustrates how the structure of the US banking market and the existence of federal institutions allowed regional financial shocks to be absorbed at the federal level in the US, thus avoiding local financial crisis. The authors argue that the experience of the US shows the importance of a 'banking union' to avoid severe regional (national) financial dislocation in the wake of regional boom and bust cycles. They also discuss the extent to which the institutions of the partial banking union, now in the process of being created for the euro area, should be able to increase its capacity to deal with future regional boom and bust cycles, thereby stabilising the single currency.

The creation of an economic and monetary union (EMU) in Europe is among the most important_and controversial_developments of the 1990s. This clear and balanced book brings together economists and political scientists to explain why the creation of a European monetary union is so contentious; how the debate has affected the political determination to construct a monetary union; and how it will influence the functioning of EMU into the next century. Focusing on how economics and politics interact both in the prelude to unification and in its aftermath, the authors provide an innovative analysis of a spectrum of related issues: how EMU relates to Europe's unemployment crisis, how it will affect the process of economic adjustment, what convergence means for the performance of the member states separately, and how the member states will decide both whether to participate themselves and whom else to admit to the monetary club.

Analyzing the key problems facing the transition countries in Central and Eastern Europe, this book describes the legacy of the central planners and the need for radical reforms. It documents the outstanding successes and failures, and demonstrates how some countries have graduated from "transition" to "integration" through membership in the European Union. The study concludes by indicating how the EU could help the poor performers through inclusion in a continent-wide integrated economic area. The book appeals to students in economics, comparative politics and area studies.

Analyzing the key problems facing the transition countries in Central and Eastern Europe, this book describes the legacy of the central planners and the need for radical reforms. It documents the outstanding successes and failures, and demonstrates how some countries have graduated from "transition" to "integration" through membership in the European Union. The study concludes by indicating how the EU could help the poor performers through inclusion in a continent-wide integrated economic area. The book appeals to students in economics, comparative politics and area studies.

This book provides a much-needed accessible and non-technical account of a highly topical issue - European Monetary Union. It is a coherent and authoritative statement of the view of the Commission of the European Communities by its chief economist. The book has already been written about in the Financial Times, and it should attract much media attention on publication.

This Is A New Release Of The Original 1795 Edition.

Title: Natural principles of rectitude, for the conduct of man in all states and situations of life: demonstrated and explained in a systematic treatise on moral philosophy ...Author: John Daniel GrosPublisher: Gale, Sabin Americana Description: Based on Joseph Sabin's famed bibliography, Bibliotheca Americana, Sabin Americana, 1500--1926 contains a collection of books, pamphlets, serials and other works about the Americas, from the time of their discovery to the early 1900s. Sabin Americana is rich in original accounts of discovery and exploration, pioneering and westward expansion, the U.S. Civil War and other military actions, Native Americans, slavery and abolition, religious history and more.Sabin Americana offers an up-close perspective on life in the western hemisphere, encompassing the arrival of the Europeans on the shores of North America in the late 15th century to the first decades of the 20th century. Covering a span of over 400 years in North, Central and South America as well as the Caribbean, this collection highlights the society, politics, religious beliefs, culture, contemporary opinions and momentous events of the time. It provides access to documents from an assortment of genres, sermons, political tracts, newspapers, books, pamphlets, maps, legislation, literature and more.Now for the first time, these high-quality digital scans of original works are available via print-on-demand, making them readily accessible to libraries, students, independent scholars, and readers of all ages.++++The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to insure edition identification: ++++SourceLibrary: Huntington LibraryDocumentID: SABCP01360700CollectionID: CTRG94-B4632PublicationDate: 17950101SourceBibCitation: Selected Americana from Sabin's Dictionary of books relating to AmericaNotes: With half title. Errors in pagination.Collation: xvi, 456 p.; 23 cm. (8vo)

1795. This work demonstrates and explains the natural principles of morality or righteousness in a systematic treatise on moral philosophy, comprehending the law of nature, ethics, natural jurisprudence, general economy, politics, and the law of nations. Due to the age and scarcity of the original we reproduced, some pages may be spotty, faded or difficult to read. Written in Old English.

1795. This work demonstrates and explains the natural principles of morality or righteousness in a systematic treatise on moral philosophy, comprehending the law of nature, ethics, natural jurisprudence, general economy, politics, and the law of nations. Due to the age and scarcity of the original we reproduced, some pages may be spotty, faded or difficult to read. Written in Old English.

This scarce antiquarian book is a facsimile reprint of the original. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions that are true to the original work.

Diplomarbeit aus dem Jahr 2004 im Fachbereich VWL - Geldtheorie, Geldpolitik, Note: 2,3, Johann Wolfgang Goethe-Universitat Frankfurt am Main (Lehrstuhl fur Theoriegeschichte), Sprache: Deutsch, Anmerkungen: Die Diplomarbeit befasst sich mit der Entstehung und Bewaltigung staatlicher Verschuldungskrisen in Schwellenlandern. Neben der ausfuhrlichen Darstellung der verschiedenen Verschuldungsmodelle werden die Probleme in den aktuellen Restrukturierungsprozessen thematisiert und neue Losungsstrategien (Collective Action Clauses und SDRM) besprochen. Als praxisbezogenes Fallbeispiel dient die aktuelle Zahlungsaussetzung Argentiniens (und deren Vorgeschichte)., Abstract: Die Schuldenkrisen, die nach seit den 1990er Jahren in Mexiko, Asien und Russland beobachtet werden konnten, werfen, ebenso wie die argentinische Zahlungsaussetzung, einige interessante Fragen auf, etwa nach den Ursachen der Krisen. Die genannten Ereignisse haben aber auch eine lebhafte Diskussion uber die bisherige Strategie zur Krisenbewaltigung und die damit verbundenen Probleme, sowie die Suche nach neuen Wegen der Krisenbewaltigung und einer verbesserten Krisenpravention, ausgelost. Gegenstand der vorliegenden Arbeit sind Schuldenkrisen von Staaten. Nach der Herausarbeitung der grundlegenden Unterschiede staatlicher und privatwirtschaftlicher Schuldenkrisen, betrachtet die Arbeit die Ursachen der Entstehung einer Schuldenkrisen bei Staaten. Die Bewaltigung solcher Krisen ist mit besonderen Problematiken (u.a. Moral Hazard) behaftet, die die Losung der Krise erschweren. Im Zuge der unbefriedigenden Losung von "Staatsbakrotten" durch die entsprechenden internationalen Institutionen (IWF, Paris Club) sind neue Losungswege wie die Collective Action Clauses (CAC) und der Sovereign Debt Restructuring Mechanism (SDRM) entstanden, die jeweils ausfuhrlich besprochen werden. Als aktuelles Fallbespiel dient die Schuldenkrise in Argentinien.