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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.
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