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The Economics of Target Balances - From Lehman to Corona (Paperback, 1st ed. 2020): Hans-Werner Sinn The Economics of Target Balances - From Lehman to Corona (Paperback, 1st ed. 2020)
Hans-Werner Sinn
R636 R500 Discovery Miles 5 000 Save R136 (21%) Ships in 7 - 11 working days

Target balances are the largest single item in some of the balance sheets of the Eurosystem's national central banks (NCBs), and yet very little is known about them by the general public and even by economists. This book shows that Target balances measure overdraft credits between the NCBs that resemble ordinary fiscal credit and which have grown disproportionately, exceeding one billion euros. There is, however, no parliamentary legitimation for the Target balances. The book sheds light on the economic significance of the balances, questions their limitlessness, and addresses controversial views that have been expressed regarding them. It uses the Target statistics to analyze the course of the euro crisis and the ECB's policy reactions from the time of the Lehman bankruptcy up to the outbreak of the Corona crisis. It analyses the credit risks involved for the Eurosystem and concludes with a reform proposal. This book will be of interest to non-specialist economists and policy makers.

The Euro Trap - On Bursting Bubbles, Budgets, and Beliefs (Hardcover): Hans-Werner Sinn The Euro Trap - On Bursting Bubbles, Budgets, and Beliefs (Hardcover)
Hans-Werner Sinn
R847 Discovery Miles 8 470 Ships in 10 - 15 working days

This book offers a critical assessment of the history of the euro, its crisis, and the rescue measures taken by the European Central Bank and the community of states. The euro induced huge capital flows from the northern to the southern countries of the Eurozone that triggered an inflationary credit bubble in the latter, deprived them of their competitiveness, and made them vulnerable to the financial crisis that spilled over from the US in 2007 and 2008. As private capital shied away from the southern countries, the ECB helped out by providing credit from the local money-printing presses. The ECB became heavily exposed to investment risks in the process, and subsequently had to be bailed out by intergovernmental rescue operations that provided replacement credit for the ECB credit, which itself had replaced the dwindling private credit. The interventions stretched the legal strictures stipulated by the Maastricht Treaty which, in the absence of a European federal state, had granted the ECB a very limited mandate. These interventions created a path dependency that effectively made parliaments vicarious agents of the ECB's Governing Council. This book describes what the author considers to be a dangerous political process that undermines both the market economy and democracy, without solving southern Europe's competitiveness problem. It argues that the Eurozone has to rethink its rules of conduct by limiting the role of the ECB, exiting the regime of soft budget constraints and writing off public and bank debt to help the crisis countries breathe again. At the same time, the Eurosystem should become more flexible by offering its members the option of exiting and re-entering the euro - something between the dollar and the Bretton Woods system - until it eventually turns into a federation with a strong political power centre and a uniform currency like the dollar.

The Euro Trap - On Bursting Bubbles, Budgets, and Beliefs (Paperback): Hans-Werner Sinn The Euro Trap - On Bursting Bubbles, Budgets, and Beliefs (Paperback)
Hans-Werner Sinn
R630 Discovery Miles 6 300 Ships in 10 - 15 working days

This book offers a critical assessment of the history of the euro, its crisis, and the rescue measures taken by the European Central Bank and the community of states. The euro induced huge capital flows from the northern to the southern countries of the Eurozone that triggered an inflationary credit bubble in the latter, deprived them of their competitiveness, and made them vulnerable to the financial crisis that spilled over from the US in 2007 and 2008. As private capital shied away from the southern countries, the ECB helped out by providing credit from the local money-printing presses. The ECB became heavily exposed to investment risks in the process, and subsequently had to be bailed out by intergovernmental rescue operations that provided replacement credit for the ECB credit, which itself had replaced the dwindling private credit. The interventions stretched the legal structures stipulated by the Maastricht Treaty which, in the absence of a European federal state, had granted the ECB a very limited mandate. These interventions created a path dependency that effectively made parliaments vicarious agents of the ECB's Governing Council. This book describes what the author considers to be a dangerous political process that undermines both the market economy and democracy, without solving southern Europe's competitiveness problem. It argues that the Eurozone has to rethink its rules of conduct by limiting the role of the ECB, exiting the regime of soft budget constraints and writing off public and bank debt to help the crisis countries breathe again. At the same time, the Eurosystem should become more flexible by offering its members the option of exiting and re-entering the euro - something between the dollar and the Bretton Woods system - until it eventually turns into a federation with a strong political power centre and a uniform currency like the dollar.

The New Systems Competition (Paperback): Hans-Werner Sinn The New Systems Competition (Paperback)
Hans-Werner Sinn
R1,120 R1,031 Discovery Miles 10 310 Save R89 (8%) Ships in 10 - 15 working days

Competition between companies tends to be beneficial for the general public, but is this also true for competition between States in a world with global financial markets, low transport costs, and increasing migration? In this book, Sinn provides a solid economic analysis of the competitive forces at work and addresses how we should organize competition between systems so they will enhance the efficiency of these systems, as opposed to acting destructively on them.Provides a thorough economic analysis of the competitive forces at work between nations and governments.Analyzes a wide range of state activities, including taxation, public goods provision, income redistribution, environmental policy, safety standards, and competition policy.Addresses ways to organize competition so it will enhance the efficiency of these systems.

Casino Capitalism - How the Financial Crisis Came About and What Needs to be Done Now (Paperback): Hans-Werner Sinn Casino Capitalism - How the Financial Crisis Came About and What Needs to be Done Now (Paperback)
Hans-Werner Sinn
R751 Discovery Miles 7 510 Ships in 10 - 15 working days

In Casino Capitalism Hans-Werner Sinn examines the causes of the banking crisis, points out the flaws in the economic rescue packages, and presents a master plan for the reform of financial markets. Sinn argues that the crisis came about because limited liability induced both Wall Street and Main Street to gamble with real estate properties. He meticulously describes the process of lending to American homeowners and criticizes both the process of securitizing and selling mortgage claims to the world, as well as the poor job rating agencies did in providing transparency. He argues that the American Dream has ended because the world now realizes that this dream was built on loans that are never likely to be repaid.
Sinn also asserts that the banking crisis has not yet been resolved, because the necessary write-offs of toxic assets have largely been swept under the carpet. Comparing actual worldwide write-offs with those estimated by the IMF estimates, he concludes that substantial parts, if not most, of the true losses have yet to be revealed and that the banking systems of many countries are on the brink of insolvency.
In view of this, Sinn directs sharp criticism at the various economic rescue packages, arguing that the plans assume that banks have a liquidity problem while, in fact, they suffer from a solvency crisis. Sinn points out that the conflict between the goals of rescuing banks in the short term and inducing more prudent behaviour in the long term requires the government to help the banks, but not their shareholders, by becoming a temporary co-owner. In addition, he calls for higher equity requirements, a worldwide return to more cautious accounting methods, a ban on extremely speculative short selling, and strict regulations on conduits, hedge funds and credit default swaps.
This authoritative account provides an invaluable overview for academics, students, policymakers, politicians, and all those with an interest in the unprecedented 2008 banking crisis.

The New Systems Competition (Hardcover): Hans-Werner Sinn The New Systems Competition (Hardcover)
Hans-Werner Sinn
R2,341 R2,105 Discovery Miles 21 050 Save R236 (10%) Ships in 10 - 15 working days

Competition between companies tends to be beneficial for the general public, but is this also true for competition between States in a world with global financial markets, low transport costs, and increasing migration? In this book, Sinn provides a solid economic analysis of the competitive forces at work and addresses how we should organize competition between systems so they will enhance the efficiency of these systems, as opposed to acting destructively on them.Provides a thorough economic analysis of the competitive forces at work between nations and governments.Analyzes a wide range of state activities, including taxation, public goods provision, income redistribution, environmental policy, safety standards, and competition policy.Addresses ways to organize competition so it will enhance the efficiency of these systems.

Economic Policy 62 - Financial Crisis Issue (Paperback): Georges de Menil, Richard Portes, Hans-Werner Sinn, Tullio Jappelli,... Economic Policy 62 - Financial Crisis Issue (Paperback)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Tullio Jappelli, Philip/Lane, …
R780 R453 Discovery Miles 4 530 Save R327 (42%) Ships in 10 - 15 working days

Crisis Issue: The papers in this title have been written in response to the global financial and economic crisis that has been ongoing since Summer 2007.

Top economists provide a concise and accessible evaluation of major developments in trade and trade policy."Economic Policy" has earned a reputation around the world as the one publication that always identifies current and emerging policy topics earlyPapers are specially commissioned from first-class economists and experts in the policy fieldThe editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economistsThis unique approach guarantees incisive debate and alternative interpretations of the evidence

Economic Policy 57 (Paperback, New): Georges de Menil, Richard Portes, Hans-Werner Sinn, Tullio Jappelli, Philip/Lane, Philippe... Economic Policy 57 (Paperback, New)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Tullio Jappelli, Philip/Lane, …
R1,248 Discovery Miles 12 480 Ships in 7 - 11 working days

Top economists provide a concise and accessible evaluation of major developments in trade and trade policy.
"Economic Policy" has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early
Papers are specially commissioned from first-class economists and experts in the policy field
The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists
This unique approach guarantees incisive debate and alternative interpretations of the evidence

Economic Policy 53 (Paperback, 2008): Georges de Menil, Richard Portes, Hans-Werner Sinn, Giuseppe Bertola, Philippe Martin,... Economic Policy 53 (Paperback, 2008)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Giuseppe Bertola, Philippe Martin, …
R1,230 Discovery Miles 12 300 Ships in 7 - 11 working days

Top economists provide a concise and accessible evaluation of major developments in trade and trade policy.* They examine the key issues pertinent to the multinational trading system, as well as regional trade arrangements and policy developments at the national level* Provides up-to-date assessments of the World Trade Organization's current Trade Policy Reviews*Economic Policy is written for all those with an informed interest in economic policy problems* All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members

Economic Policy 51 (Paperback, 2007): Georges de Menil, Richard Portes, Hans-Werner Sinn, Giuseppe Bertola, Philippe Martin,... Economic Policy 51 (Paperback, 2007)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Giuseppe Bertola, Philippe Martin, …
R1,225 Discovery Miles 12 250 Ships in 7 - 11 working days

"

Economic Policy" is written for all those with an informed interest in economic policy problems. All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members.
"Economic Policy" has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early
Papers are specially commissioned from first-class economists and experts in the policy field
The editors are all based at top European economic institutions
This unique approach guarantees incisive debate and alternative interpretations of the evidence

Economic Policy 49 (Paperback, New): Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola,... Economic Policy 49 (Paperback, New)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, …
R1,321 Discovery Miles 13 210 Ships in 7 - 11 working days

Top economists provide a concise and accessible evaluation of major developments in trade and trade policy. Examination of key issues pertinent to the multinational trading system, as well as regional trade arrangements and policy developments at the national level. Provides up-to-date assessments of the World Trade Organization's current Trade Policy Reviews.
"Economic Policy" has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early.
Papers are specially commissioned from first-class economists and experts in the policy field.
The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists.
This unique approach guarantees incisive debate and alternative interpretations of the evidence.

Exchange-Rate Regimes and Currency Unions - Proceedings of a conference held by the Confederation of European Economic... Exchange-Rate Regimes and Currency Unions - Proceedings of a conference held by the Confederation of European Economic Associations at Frankfurt, Germany, 1990 (Hardcover)
Ernst Baltensperger, Hans-Werner Sinn
R4,546 Discovery Miles 45 460 Ships in 7 - 11 working days

This volume contains the proceedings of a conference held in 1990 on the theme of Exchange Rate Regimes and Currency Unions. The papers are all devoted to theoretical and empirical analyses of systems of fixed and flexible exchange rates, to the role of central bank behaviour and other government policies in such systems, to the prospects, workings and effects of a European monetary system, and to topics of capital mobility and economic integration in general.

Economic Decisions Under Uncertainty (Paperback, 2nd ed. 1989): Hans-Werner Sinn Economic Decisions Under Uncertainty (Paperback, 2nd ed. 1989)
Hans-Werner Sinn
R2,479 Discovery Miles 24 790 Ships in 7 - 11 working days

The Fundamental Issues Involved Why do we need a theory of uncertainty? It is a fact that almost all man's economic decisions are made under conditions of uncertainty, but this fact alone does not provide a strong enough argument for making the effort necessary to generalize ordinary preference theory designed for a world of perfect certainty. In accordance with Occam's Razor, the mathematician may well welcome a generalization of assumptions even if it does not promise more than a restatement of known results. The economist, however, will only be well disposed towards making the effort if he can expect to achieve new insights and interesting results, for he is interested in the techniques necessary for the generalization only as means to an end, not as ends in themselves. A stronger reason for developing a theory of uncertainty, therefore, seems to be the fact that there are kinds of economic activities to which the non-stochastic preference theory has no access or has access only through highly artificial constructions. Such activities include portfolio decisions of wealth holders, speculation, and insurance. These will be considered in detail in the last chapter of the book. The main purpose of this book, however, is not to apply a theory of uncertainty to concrete economic problems, the purpose rather is to formulate such a theory.

Economic Policy 63 (Paperback, New): Georges de Menil, Richard Portes, Hans-Werner Sinn, Tullio Jappelli, Philip/Lane, Philippe... Economic Policy 63 (Paperback, New)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Tullio Jappelli, Philip/Lane, …
R756 R429 Discovery Miles 4 290 Save R327 (43%) Ships in 10 - 15 working days

Top economists provide a concise and accessible evaluation of major developments in trade and trade policy. * Economic Policy has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early * Papers are specially commissioned from first-class economists and experts in the policy field * The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists * This unique approach guarantees incisive debate and alternative interpretations of the evidence

Yesil Paradoks - Kuresel Isinmaya Arz Yanli Yaklasim (Turkish, Paperback): Hans-Werner Sinn Yesil Paradoks - Kuresel Isinmaya Arz Yanli Yaklasim (Turkish, Paperback)
Hans-Werner Sinn; Translated by Mehmet Evren Dincer
R581 Discovery Miles 5 810 Ships in 7 - 11 working days
Volkswirtschaftliche Probleme Der Deutschen Vereinigung - 401. Sitzung Am 13. April 1994 in Dusseldorf (German, Paperback, 1996... Volkswirtschaftliche Probleme Der Deutschen Vereinigung - 401. Sitzung Am 13. April 1994 in Dusseldorf (German, Paperback, 1996 ed.)
Hans-Werner Sinn
R1,696 Discovery Miles 16 960 Ships in 7 - 11 working days
Exchange-Rate Regimes and Currency Unions - Proceedings of a conference held by the Confederation of European Economic... Exchange-Rate Regimes and Currency Unions - Proceedings of a conference held by the Confederation of European Economic Associations at Frankfurt, Germany, 1990 (Paperback, 1st ed. 1992)
Ernst Baltensperger, Hans-Werner Sinn
R4,062 Discovery Miles 40 620 Ships in 7 - 11 working days

The contributions are concerned with the theoretical and empirical analyses of fixed and flexible exchange rate systems, the role of central bank and other government policies in such systems, the prospects, workings and effects of a European Monetary System, and capital mobility and economic integration.

Economic Policy 38 (Paperback): Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, Paul... Economic Policy 38 (Paperback)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, …
R1,230 Discovery Miles 12 300 Out of stock

"Economic Policy" is written for all those with an informed interest in economic policy problems. All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members.
Economic Policy has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early.
Papers are specially commissioned from first-class economists and experts in the policy field.
The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists.
This unique approach guarantees incisive debate and alternative interpretations of the evidence.

Economic Policy 47 (Paperback): Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, Paul... Economic Policy 47 (Paperback)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, …
R1,213 Discovery Miles 12 130 Out of stock

Economic Policy is written for all those with an informed interest in economic policy problems. All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members.
Economic Policy has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early.
Papers are specially commissioned from first-class economists and experts in the policy field.
The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists.
This unique approach guarantees incisive debate and alternative interpretations of the evidence.

Economic Policy 31 (Paperback): Hans-Werner Sinn, David Begg, Charles Wyplosz, Richard Portes, Georges de Menil, Kai A. Konrad Economic Policy 31 (Paperback)
Hans-Werner Sinn, David Begg, Charles Wyplosz, Richard Portes, Georges de Menil, …
R1,254 Discovery Miles 12 540 Out of stock

"Economic Policy" has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early. It discusses key international issues when they matter and is invaluable for keeping track of important topics."Economic Policy" gives you hot topics, from the experts. Papers are specially commissioned from first-class economists and experts in the policy field. The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists. Their discussions are published at the end of each paper. This unique approach guarantees incisive debate and alternative interpretations of the evidence.

Economic Policy 39 (Paperback): Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, Paul... Economic Policy 39 (Paperback)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, …
R1,180 Discovery Miles 11 800 Out of stock

"Economic Policy" is written for all those with an informed interest in economic policy problems. All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members.
Economic Policy has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early.
Papers are specially commissioned from first-class economists and experts in the policy field.
The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists.
This unique approach guarantees incisive debate and alternative interpretations of the evidence.

Economic Policy 42 (Paperback): Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, Paul... Economic Policy 42 (Paperback)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, …
R1,194 Discovery Miles 11 940 Out of stock

Economic Policy is written for all those with an informed interest in economic policy problems. All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members.
Economic Policy has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early.
Papers are specially commissioned from first-class economists and experts in the policy field.
The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists.
This unique approach guarantees incisive debate and alternative interpretations of the evidence.
Economic Policy increases to 4 issues in 2005.

Economic Policy 44 (Paperback): Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, Paul... Economic Policy 44 (Paperback)
Georges de Menil, Richard Portes, Hans-Werner Sinn, Richard Baldwin, Giuseppe Bertola, …
R1,229 Discovery Miles 12 290 Out of stock

"

Economic Policy" is written for all those with an informed interest in economic policy problems. All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members.
Economic Policy has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early.
Papers are specially commissioned from first-class economists and experts in the policy field.
The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists.
This unique approach guarantees incisive debate and alternative interpretations of the evidence.

Economic Policy 29 (Paperback, 29): David Begg, Charles Wyplosz, Kai A. Konrad Economic Policy 29 (Paperback, 29)
David Begg, Charles Wyplosz, Kai A. Konrad; Georges de Menil, Hans-Werner Sinn, …
R1,150 Discovery Miles 11 500 Out of stock

For the past 11 years "Economic Policy" has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early. It discusses key international issues when they matter and is invaluable for keeping track of important topics. Articles are regularly quoted in the international press as well as in professional literature.

Economic Policy, No. 36 (Paperback): Georges de Menil, Richard Portes, Hans-Werner Sinn Economic Policy, No. 36 (Paperback)
Georges de Menil, Richard Portes, Hans-Werner Sinn
R1,156 Discovery Miles 11 560 Out of stock

"Economic Policy" is written for all those with an informed interest in economic policy problems. All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members.
Economic Policy has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early.
Papers are specially commissioned from first-class economists and experts in the policy field.
The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists.
This unique approach guarantees incisive debate and alternative interpretations of the evidence.

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