Author : Taranza T. Ganziro
Publisher : Emerald Group Publishing
Page : 281 pages
File Size : 23,27 MB
Release : 2016-01-06
Category : Business & Economics
ISBN : 1785606409
This economic and political science work is a rigorous analysis that demonstrates that although it is a privilege and a benefit for the US to have its currency, the dollar, as the leading world reserve currency, the privilege also proves to be a very significant economic and security burden imposed on the nation.
Author : Michael Pettis
Publisher : Princeton University Press
Page : 257 pages
File Size : 45,31 MB
Release : 2014-10-26
Category : Business & Economics
ISBN : 1400852269
How trade imbalances spurred on the global financial crisis and why we aren't out of trouble yet China's economic growth is sputtering, the Euro is under threat, and the United States is combating serious trade disadvantages. Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that distorted the savings and consumption patterns of certain nations. Pettis examines the reasons behind these destabilizing policies, and he predicts severe economic dislocations that will have long-lasting effects. Demonstrating how economic policies can carry negative repercussions the world over, The Great Rebalancing sheds urgent light on our globally linked economic future.
Author : Matthew C. Klein
Publisher : Yale University Press
Page : 292 pages
File Size : 25,19 MB
Release : 2020-01-01
Category : Business & Economics
ISBN : 0300244177
"This is a very important book."--Martin Wolf, Financial TimesA provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award "Worth reading for [the authors'] insights into the history of trade and finance."--George Melloan, Wall Street Journal Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace--and what we can do about it.
Author : Maurice Obstfeld
Publisher :
Page : 64 pages
File Size : 42,52 MB
Release : 2004
Category : Balance of trade
ISBN :
"Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can amount to significant fractions of GDP. These fluctuations in asset values render the national income and product account measure of the current account balance increasingly inadequate as a summary of the change in a country's net foreign assets. Nonetheless, unusually large current account imbalances, especially deficits, should remain high on policymakers' list of concerns, even for the richer and less credit-constrained countries. Extreme imbalances signal the need for large and perhaps abrupt real exchange rate changes in the future, changes that might have undesired political and financial consequences given the incompleteness of domestic and international asset markets. Furthermore, of the two sources of the change in net foreign assets -- the current account and the capital gain on the net foreign asset position -- the former is better understood and more amenable to policy influence. Systematic government attempts to manipulate international asset values in order to change the net foreign asset position could have a destabilizing effect on market expectations"--NBER website
Author : Shima Baradaran Baughman
Publisher : Cambridge University Press
Page : 331 pages
File Size : 28,45 MB
Release : 2018
Category : Law
ISBN : 1107131367
Examines the causes for mass incarceration of Americans and calls for the reform of the bail system. Traces the history of bail, how it has come to be an oppressive tool of the courts, and makes recommendations for reforming the bail system and alleviating the mass incarceration problem.
Author : Eswar S. Prasad
Publisher : Princeton University Press
Page : 438 pages
File Size : 28,14 MB
Release : 2015-08-25
Category : Business & Economics
ISBN : 0691168520
Why the dollar is—and will remain—the dominant global currency The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.
Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
Page : 235 pages
File Size : 49,81 MB
Release : 2018-03-01
Category : Medical
ISBN : 0309468086
Thanks to remarkable advances in modern health care attributable to science, engineering, and medicine, it is now possible to cure or manage illnesses that were long deemed untreatable. At the same time, however, the United States is facing the vexing challenge of a seemingly uncontrolled rise in the cost of health care. Total medical expenditures are rapidly approaching 20 percent of the gross domestic product and are crowding out other priorities of national importance. The use of increasingly expensive prescription drugs is a significant part of this problem, making the cost of biopharmaceuticals a serious national concern with broad political implications. Especially with the highly visible and very large price increases for prescription drugs that have occurred in recent years, finding a way to make prescription medicinesâ€"and health care at largeâ€"more affordable for everyone has become a socioeconomic imperative. Affordability is a complex function of factors, including not just the prices of the drugs themselves, but also the details of an individual's insurance coverage and the number of medical conditions that an individual or family confronts. Therefore, any solution to the affordability issue will require considering all of these factors together. The current high and increasing costs of prescription drugsâ€"coupled with the broader trends in overall health care costsâ€"is unsustainable to society as a whole. Making Medicines Affordable examines patient access to affordable and effective therapies, with emphasis on drug pricing, inflation in the cost of drugs, and insurance design. This report explores structural and policy factors influencing drug pricing, drug access programs, the emerging role of comparative effectiveness assessments in payment policies, changing finances of medical practice with regard to drug costs and reimbursement, and measures to prevent drug shortages and foster continued innovation in drug development. It makes recommendations for policy actions that could address drug price trends, improve patient access to affordable and effective treatments, and encourage innovations that address significant needs in health care.
Author : Barry Eichengreen
Publisher : Brookings Institution Press
Page : 401 pages
File Size : 11,89 MB
Release : 2015-02-11
Category : Political Science
ISBN : 0815726120
A Brookings Institution Press and Asian Development Bank Institute publication Meet the next global currency: the Chinese renminbi, or the "redback." Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter-national role for its currency akin to the international role currently played by the U.S. dollar. Renminbi internationalization is a hot topic, for good reason. It is, essentially, a window onto the Chinese government's aspirations and the larger process of economic and financial transformation. Making the renminbi a global currency requires rebalancing the Chinese economy, developing the country's financial markets and opening them to the rest of the world, and moving to a more flexible exchange rate. In other words, the internationalization of the renminbi is a monetary and financial issue with much broader supra-monetary and financial implications. This book offers a new perspective on the larger issues of economic, financial, and institutional change in what will eventually be the world's largest economy.
Author : Richard H. Clarida
Publisher : University of Chicago Press
Page : 518 pages
File Size : 21,85 MB
Release : 2007-11-01
Category : Business & Economics
ISBN : 0226107280
The current account deficit of the United States is more than six percent of its gross domestic product—an all-time high. And the rest of the world, including other G7 countries such as Japan and Germany, must collectively run current account surpluses to finance this deficit. How long can such unevenness between imports and exports be sustained, and what form might their eventual reconciliation take? Putting forth scenarios ranging from a gradual correction to a crash landing for the dollar, G7 Current Account Imbalances brings together economists from around the globe to consider the origins, status, and future of those disparities. An esteemed group of collaborators here examines the role of the bursting of the dot-com bubble, the history of previous episodes of current account adjustments, and the possibility of the Euro surpassing the dollar as the leading international reserve currency. Though there are areas of broad agreement—that the imbalances will ultimately decline and that currency revaluations will be part of the solution—many areas of contention remain regarding both the dangers of imbalances and the possible forms of adjustment. This volume will be of tremendous value to economists, politicians, and business leaders alike as they look to the future of the G7 economies.
Author : Shenggen Fan
Publisher : OUP Oxford
Page : 757 pages
File Size : 30,12 MB
Release : 2014-10-30
Category : Business & Economics
ISBN : 0191030236
China's rise as an economic powerhouse raises a number of questions that are the subject of lively debate. How did the country do it? How applicable are the lessons of China's economic reform of the past thirty years to the challenges it faces in the next three decades? What does the detailed pattern of China's success and challenges look like at the sub-sectoral and sub-national levels, and what does this mean for future policy? How will China's role as a global economic player evolve? The Oxford Companion to the Economics of China presents an original collection of perspectives on the Chinese economy's past, present, and future: 99 entries written by the leading China analysts of our time. The topics covered include: the China model, future prospects for China , China and the global economy, trade and the Chinese economy, macroeconomics and finance, urbanisation, industry and markets, agriculture and rural development, land, infrastructure, and environment, population and labour, dimensions of wellbeing and inequality, health and education, gender equity, regional divergence in China, and a selection of perspectives on some of China's provinces. The Editors are four global leaders in Chinese economic analysis and policy who between them have held or hold the following positions: Director General, International Food Policy Research Institute; Co-Editor, China Economic Review; President Chinese Economists Society; Assistant Director of Research at the IMF; Principal Adviser to the Chief Economist of the World Bank; and Professors of Economics at Ivy League Universities.
