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Books > Money & Finance > Public finance > General

Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty - Evidence From South Africa (Hardcover, 1st ed. 2019):... Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty - Evidence From South Africa (Hardcover, 1st ed. 2019)
Eliphas Ndou, Thabo Mokoena
R2,671 Discovery Miles 26 710 Ships in 7 - 11 working days

This book focuses on income inequality, output-inflation trade-off and economic policy uncertainty in South Africa. Tight monetary and macroprudential policies raise income inequality. Income inequality transmits monetary policy and macroprudential policy shocks to real economic activity. Economic policy uncertainty influences the dynamics in the lending rate margins, inflation expectations, credit, pass-through of the repo rate to bank lending rates and companies' cash holdings. The trade-off between output and inflation and output growth persistence vary with inflation regimes. Stimulatory demand policy shocks are less effective in high inflation regime. High income inequality raises consumption inequality, which raises demand for credit, but price stability matters in this link. Increased bank concentration raises income inequality, lowers economic growth and employment rate. Elevated economic policy uncertainty lowers output growth, lowers capital formation, reduces credit and raises companies' cash holdings. Increased companies' cash holdings reduce capital formation and impact the transmission of expansionary monetary policy shocks to real economic activity. This book shows there is an inflation level within the target band below it which lowers income inequality, while raising GDP growth and employment. Thus price stability, economic policy uncertainty and income inequality matter for the efficient transmission of policy shocks.

The Economics of Evaluating Water Projects - Hydroelectricity Versus Other Uses (Hardcover, 2012 ed.): Per-Olov Johansson,... The Economics of Evaluating Water Projects - Hydroelectricity Versus Other Uses (Hardcover, 2012 ed.)
Per-Olov Johansson, Bengt Kristroem
R2,747 R2,265 Discovery Miles 22 650 Save R482 (18%) Ships in 10 - 15 working days

This book presents research on a kind of water use conflicts that is becoming more and more common and important: How to best manage moving water in times of increasing demand for electricity as well as environmental services. How should decisions be made between water use for electricity generation or for environmental and recreational benefits? The authors develop a simple general equilibrium model of a small open economy which is used to derive a cost-benefit rule that can be used to assess projects that divert water from electricity generation to recreational and other uses (or vice versa). The cost-benefit rule is then applied to the specific case of a proposed change at a Swedish hydropower plant. The book provides a manual for the evaluation of river regulations which can easily be replicated in other studies.

Public Finance and National Accounts in the European Context (Hardcover, 1st ed. 2018): Joaquim Miranda Sarmento Public Finance and National Accounts in the European Context (Hardcover, 1st ed. 2018)
Joaquim Miranda Sarmento
R2,397 Discovery Miles 23 970 Ships in 10 - 15 working days

This book offers an essential guide to Public Finance and National Accounts in the context of the European Union. Since the creation of the Eurozone, fiscal policy has been at the heart of economic (but also political/media) discussions in the EU. From the Stability and Growth Pact (1997) to the more recent Fiscal Treaty, EU and Eurozone, countries have been subject to various fiscal rules. The importance of these rules, and of the subsequent procedures that every Eurozone country has to adhere to, is unquestionable. The book provides the reader with an in-depth understanding of the complex EU rules concerning fiscal policy, breaking down the corresponding legal texts into simple and accessible language. It has a broad interdisciplinary appeal, and scholars and practitioners whose work involves these areas will find it of particular interest.

Emerging Issues in Islamic Finance Law and Practice in Malaysia (Hardcover): Umar A. Oseni, M. Kabir Hassan, Rusni Hassan Emerging Issues in Islamic Finance Law and Practice in Malaysia (Hardcover)
Umar A. Oseni, M. Kabir Hassan, Rusni Hassan
R1,831 Discovery Miles 18 310 Ships in 10 - 15 working days

Law and regulation are becoming increasingly important in any discourse involving the Islamic financial services industry. This important aspect comprises both the legal and Shari'ah aspects from the pre-contract stage up to the post-execution phase, and even post-contract termination phase. Emerging Issues in Islamic Finance Law and Practice in Malaysia focuses on emerging legal, Shari'ah and regulatory issues in the Islamic finance industry in Malaysia. Through the lens of the Malaysian legal framework, financial experts Umar A. Oseni, M. Kabir Hassan, and Rusni Hassan and their expert contributors raise and discuss issues that cut across borders and, as such, can be transposed to other Islamic finance jurisdictions. With the different perspectives and approaches adopted by various chapters, Emerging Issues is specifically designed to meet the needs of academics and practitioners of Islamic finance law to provide general legal and Shari'ah guidance on the emerging issues identified. In Emerging Issues, Oseni, Hassan and Hassan provide rigorous research for curious minds who seek to ascertain the position of Islamic law on certain new issues, such as the application of Fintech in Islamic finance and the regulation of digital currencies. Readers will also benefit from the case studies included, which are based on the Malaysian legal and Shari'ah framework since Malaysia is generally considered a model for other Islamic finance jurisdictions.

Efficiency in Business and Economics - Proceedings from the 7th International Conference on Efficiency as a Source of the... Efficiency in Business and Economics - Proceedings from the 7th International Conference on Efficiency as a Source of the Wealth of Nations (ESWN), Wroclaw 2017 (Paperback, Softcover reprint of the original 1st ed. 2018)
Tadeusz Dudycz, Grazyna Osbert-Pociecha, Bogumila Brycz
R4,218 Discovery Miles 42 180 Ships in 7 - 11 working days

This volume offers a collection of studies on problem of organization's efficiency, criteria for evaluating the efficiency, tools and methods for measuring the efficiency. The articles included present an interdisciplinary look at efficiency, its essence and the principles of its measurement. The contributions also identify a broad spectrum of conditions for achieving efficiency in various types of organizations and systems (e.g. public institution, non-profit organizations), representing various industries. The book collects selected papers presented at the 7th International Conference "Efficiency as a Source of the Wealth of Nations", held in Wroclaw, Poland, in May 2017.

Procyclical Fiscal Policy (Paperback, 1st ed. 2018): Toshihiro Ihori, Keigo Kameda Procyclical Fiscal Policy (Paperback, 1st ed. 2018)
Toshihiro Ihori, Keigo Kameda
R1,370 R1,229 Discovery Miles 12 290 Save R141 (10%) Ships in 10 - 15 working days

Conventional wisdom dictates that a fiscal policy should be counter-cyclical. However, contrary to this conventional views, recent research has demonstrated that fiscal policy is actually procyclical in most developing countries. In this book, we attempt to propose a new interpretation of this procyclicality after reviewing theoretical and empirical evolution of the research. In particular, by incorporating the political effort behavior of private agents into a weak government model, we explore how income fluctuations affect the optimal budget deficits in a political economy. If the government can control the political behavior, normally, the optimal budget deficit should rise in a recession as a first-best case; however, interestingly, a recession does not necessarily prompt an increase in the budget deficits in a second-best political economy. The response of the budget deficits to income fluctuations mainly depends on the efficiency of political effort, which may correspond to the degree of democracy and bureaucratic efficiency of the governments. We test the prediction of the pro-cyclical fiscal policy and find it applicable for democratic countries with semi-efficient governments including Japan.

Severance Payment and Labor Mobility - A Comparative Study of Taiwan and Japan (Hardcover, 1st ed. 2018): Tatsuo Hatta, Shinya... Severance Payment and Labor Mobility - A Comparative Study of Taiwan and Japan (Hardcover, 1st ed. 2018)
Tatsuo Hatta, Shinya Ouchi
R2,752 R2,599 Discovery Miles 25 990 Save R153 (6%) Ships in 10 - 15 working days

This book compares legally allowed dismissal conditions in employment contracts in Taiwan and Japan and then examines the possibility of introducing the Taiwan-style severance payment system into Japanese employment contracts. A significant difference exists between employment regulations of Japan and Taiwan. In Japan, dismissal of an employee on the grounds of ability is not easily upheld in a court of law, and a set rule for dismissals with severance payment does not exist. On the other hand, in Taiwan, where regulations do not allow dismissal at will, an employee can still be dismissed with severance payment, as long as due process is followed. Written by labor lawyers and labor economists from both Taiwan and Japan, this book describes the procedures that must be followed in the dismissal process in the two countries. It also shows that this difference in dismissal conditions between the two countries explains the low labor mobility in Japan and high labor mobility in Taiwan, and that this difference in labor mobility, in turn, caused the shift of IT production from Japan to Taiwan in the 1990s. The final chapter of the book elucidates the need for introducing the Taiwan-style severance payment before carrying out further deregulation in Japan.

The New Dynamic Public Finance (Hardcover): Narayana R. Kocherlakota The New Dynamic Public Finance (Hardcover)
Narayana R. Kocherlakota
R1,212 R968 Discovery Miles 9 680 Save R244 (20%) Ships in 10 - 15 working days

Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance.

An important book for advanced PhD courses in public finance and macroeconomics, "The New Dynamic Public Finance" provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research.

Thomas Robert Malthus (Hardcover, 1st ed. 2018): David Reisman Thomas Robert Malthus (Hardcover, 1st ed. 2018)
David Reisman
R2,509 R2,325 Discovery Miles 23 250 Save R184 (7%) Ships in 10 - 15 working days

Thomas Robert Malthus (1766-1834) was a leading figure in the British classical school of economics, best-known for extending the insights of Adam Smith at a time of revolutionary improvements in agriculture and industry. This book explores the way in which he accounted for the tendency to overpopulation, the exhaustion of arable land and the deficiency of effective demand. Malthus relied on historical and empirical evidence in the spirit of Bacon and Hume, but also backed up his data with a priori hypotheses that link him to his contemporary, David Ricardo. Malthus was strongly in favour of free trade, the minimal State, the gold standard and the abolition of poverty relief. Always a pragmatist, however, he was just as much in favour of public education, contra-cyclical public works and a safety net of tariffs and bounties to encourage national self-sufficiency with regard to food. He was both an economist and a clergyman and saw the two roles as interconnected. Malthus believed that a benevolent Deity had created vice and misery in order to shake human beings out of their natural indolence that would otherwise have condemned them to still greater distress. This title provides a clear and comprehensive examination of Malthus's economic and social thought. It will be of interest to students and scholars alike.

Economics and Ageing - Volume II: Policy and Applied (Paperback, 1st ed. 2018): Jose Luis Iparraguirre Economics and Ageing - Volume II: Policy and Applied (Paperback, 1st ed. 2018)
Jose Luis Iparraguirre
R1,765 R1,623 Discovery Miles 16 230 Save R142 (8%) Ships in 10 - 15 working days

This upper level textbook provides a coherent introduction to the economic implications of individual and population ageing. Placing economic considerations into a wider social sciences context, this is ideal reading not only for advanced undergraduate and masters students in economics, health economics and the economics of ageing, but also policy makers, students, professionals and practitioners in gerontology, sociology, health-related sciences and social care. This volume discusses the fiscal implications of ageing, health economics and long-term care. Fiscal policy issues include generational accounting and national transfer accounts, the relationship between ageing, public expenditure and fiscal policy, the age profiles of public expenditures and taxes, and the relationship between ageing, capital and labour taxation. Health economics with regard to ageing comprises healthy and disability-free life expectancy, the relationship between health inequalities and age, the macroeconomic implications of population health, the socio-economic determinants of health, the interaction between ageing and both individual and aggregate health expenditure, and economic approaches to valuing later life. This volume closes with an exposition of the economics of formal and informal care, as well as questions around insurance, risk and the so-called `sandwich generation'.

Keynesian Macroeconomics Beyond the IS-LM Model (Hardcover, 1st ed. 2019): Chandana, Ghosh, Ambar Nath Ghosh Keynesian Macroeconomics Beyond the IS-LM Model (Hardcover, 1st ed. 2019)
Chandana, Ghosh, Ambar Nath Ghosh
R2,392 Discovery Miles 23 920 Ships in 7 - 11 working days

This book makes an original and significant contribution to Keynesian macroeconomics. The IS-LM model is a basic workhorse of Keynesian macroeconomics. However, its financial aspects are extremely rudimentary and the link between the real and the financial sector is extremely tenuous. Hence, neither the IS-LM model nor IS-LM-based models can be applied to the major economic issues facing today's world. This book develops alternative models in the Keynesian tradition that incorporate financial institutions and make explicit the intimate link between the processes of generation of income, saving, credit and expenditure. It subsequently uses these models to address the major current macroeconomic issues that India and the rest of the world are confronted with. In the Indian context, it focuses on the issues of unemployment, growth, recession, bank performance, banking sector reforms and corruption. It also seeks to identify the causes of economic crises in Greece and the US. The analysis reveals a common trend in the economies considered here: the policy framework within which they function is recessionary, exploitative and fosters unemployment, inequality and poverty. Further, this framework is leading these economies farther away from the goal that every civilized society should strive to achieve, namely, providing all citizens with suitably gainful jobs and adequate access to quality food, clothing, shelter, education and health care. The book seeks to identify the cause of this malady, and puts forward policies to remedy it. It thus contains takeaways for academia, think tanks as well as policy makers.

State Failure and Distorted Urbanisation in Post-Mao's China, 1993-2012 (Hardcover, 1st ed. 2018): Yazhuo Zheng, Kent Deng State Failure and Distorted Urbanisation in Post-Mao's China, 1993-2012 (Hardcover, 1st ed. 2018)
Yazhuo Zheng, Kent Deng
R1,263 R1,043 Discovery Miles 10 430 Save R220 (17%) Ships in 10 - 15 working days

This book examines failure in the urbanisation of Northwest China as a result of government industrial policies that have impacted on the economic development of the region. By looking at the under-researched provinces of Gansu, Qinghai and Inner Mongolia, which make up a quarter of China's territory, Zheng and Deng challenge the common story of China's miracle growth and reveal the dark side of the country's pursuit of modernity. Severe weather conditions, chronic drought, permanent lack of oxygen and unforgiving terrain in the Northwest make farming, manufacture and services difficult simply because people tend not to stay. Yet, China's current political system forces growth to take place even though basic conditions and prerequisites for market-based growth are missing. This volume analyses 'ghost cities' and social tension in the process of 'forced urbanisation' in which huge amount of resources are wasted, the local environment is systematically damaged and ordinary people's basic rights are brutally violated in the name of higher GDP and greater government glory.

Honest Numbers and Democracy - Social Policy Analysis in the White House, Congress, and the Federal Agencies (Paperback):... Honest Numbers and Democracy - Social Policy Analysis in the White House, Congress, and the Federal Agencies (Paperback)
Walter Williams
R585 R518 Discovery Miles 5 180 Save R67 (11%) Ships in 10 - 15 working days

In "Honest Numbers and Democracy," Walter Williams offers a revealing history of policy analysis in the federal government and a scorching critique of what's wrong with social policy analysis today. Williams, a policy insider who witnessed the birth of domestic policy analysis during the Johnson administration, contends that the increasingly partisan U.S. political environment is vitiating both "honest numbers" -- the data used to direct public policy -- and, more importantly, honest analysts, particularly in the White House.

Drawing heavily on candid off-the-record interviews with political executives, career civil servants, elected officials and Washington-based journalists, Williams documents the steady deformation of social policy analysis under the pressure of ideological politics waged by both the executive and legislative branches. Beginning with the Reagan era and continuing into Clinton's tenure, Williams focuses on the presidents' growing penchant to misuse and hide numbers provided by their own analysts to assist in major policy decisions.

"Honest Numbers and Democracy" is the first book to examine in-depth the impact of the electronic revolution, its information overload, and rampant public distrust of the federal government's data on the practice of policy analysis.

A hard-hitting account of the factors threatening the credibility of the policymaking process, this book will be required reading for policy professionals, presidential watchers, and anyone interested in the future of U.S. democracy.

An Ontology for Unconventional Conflict (Hardcover, 1st ed. 2018): Dean S. Hartley III An Ontology for Unconventional Conflict (Hardcover, 1st ed. 2018)
Dean S. Hartley III
R3,515 R2,894 Discovery Miles 28 940 Save R621 (18%) Ships in 10 - 15 working days

This book describes the ontology structure, types of actors, their potential actions, and ways that actions can affect the things that are part of the conflict. An ontology of unconventional conflict supports the understanding of unconventional conflict in general. It also provides a tool for understanding and investigating a particular unconventional conflict. The ontology specifies the relations among the elements and supports creating a description of a particular situation. Unconventional conflict spans the range from natural disasters through human disagreements to irregular warfare (up to conventional war). Unconventional conflict involves damage to things and injuries to people; however, the critical factors are the actions, reactions, and opinions of people, including political, military, economic, social, infrastructure, and information components. This ontology supports and will appeal to military strategists, political scientists, economists, and politicians in understanding their planning for, and managing of these conflicts.

Public Finance (Paperback, 3rd Revised edition): Ambar Ghosh, Chandana, Ghosh Public Finance (Paperback, 3rd Revised edition)
Ambar Ghosh, Chandana, Ghosh
R567 Discovery Miles 5 670 Ships in 10 - 15 working days

The objective of the theory of public finance is to determine the optimal scales of government interventions or expenditures in different areas and the optimum modes of financing these expenditures. The theories continuously search for better, more acceptable and easier-to-implement solutions to the problems encountered. This book, in its third edition, continues to present, in detail, the theories of public finance, fundamental principles, and decisions taken by the Government on the basis of the guidelines yielded by these theories. This book exposes the students to various facets of public finance which develops analytical frameworks to: Address the issues of efficient allocation of resources between private, public and mixed goods Ensure equitable distribution of tax burden among individuals Find ways of minimizing inefficiency of the tax structure Study the statutory and economic incidence of different types of taxes Examine the implications of government borrowing Develop the rationale of distributing economic or fiscal responsibilities and tax powers among different tiers of government. The book makes the comprehension of the subject easier by developing simple mathematical models to derive the major results in each of the above areas, and by explaining the economic intuition of the results in detail. The concepts are illustrated with the help of simple examples taken from the Indian economy. Moreover, the book assesses India's economic policies in the light of the theories discussed. Another distinguishing feature of the book is that it contains a large number of review questions and numerical problems on every topic discussed, to help the students apply the tools and techniques learnt, and thereby, develop a sound understanding of the subject. This textbook is designed to serve the needs of undergraduate and postgraduate students of economics for the paper Public Finance/Public Economics. NEW TO THE THIRD EDITION: Introduces a new Chapter 11 on Goods and Services Tax (GST) Incorporates updated data (in the tables) throughout, including the newly revised tax slabs.

Living with Debt - How to Limit the Risks of Sovereign Finance, Economic and Social Progress in Latin America, 2007 Report... Living with Debt - How to Limit the Risks of Sovereign Finance, Economic and Social Progress in Latin America, 2007 Report (Paperback)
Inter-amer Dev Inter-amer Dev
R665 Discovery Miles 6 650 Ships in 10 - 15 working days

"Living with Debt" focuses on how to manage sovereign debt safely and effectively. The report traces the history of sovereign borrowing in Latin America, releases a new data set on public debt, and analyzes the evolution of debt, highlighting the recent trend toward higher levels of domestic debt and lower external borrowing. The report also includes a detailed study of the costs of sovereign defaults such as those that have affected some Latin American countries in recent years.

Drawing from in-depth country studies, the report notes the development of domestic debt markets, which have the potential to increase the availability of finance for the private sector and enhance financial markets' stability more generally. However, the report concludes that safely managing domestic debt presents somewhat different--but not necessarily simpler--challenges. In particular, the broader range of debt instruments interacts with the variety of shocks to which economies are exposed, requiring a more comprehensive approach to debt sustainability analysis, which the report outlines.

Fiscal Administration (Hardcover, 10th edition): John Mikesell Fiscal Administration (Hardcover, 10th edition)
John Mikesell
R2,012 R1,671 Discovery Miles 16 710 Save R341 (17%) Ships in 15 - 25 working days

FISCAL ADMINISTRATION, Tenth Edition, gives you the power to understand public finances as a participant who can put the process together, not just as a bystander. With U.S. federal, state, and local budgets, financial reports, and other documents, you can see how policymakers and administrators operate and learn skills needed to function in those systems. Chapters illustrate concepts and issues with case studies from the private and nonprofit sector as well as from government finance.

Building Financial Resilience - Do Credit and Finance Schemes Serve or Impoverish Vulnerable People? (Hardcover, 1st ed. 2018):... Building Financial Resilience - Do Credit and Finance Schemes Serve or Impoverish Vulnerable People? (Hardcover, 1st ed. 2018)
Jerry Buckland
R2,886 R2,405 Discovery Miles 24 050 Save R481 (17%) Ships in 10 - 15 working days

This book examines how credit and finance schemes affect the financial lives of vulnerable people around the world. These schemes include payday lending, matched savings, and financial literacy in the Global North, and micro-credit and mobile banking in the Global South. Buckland sets these schemes within the context of financialization and seeks to identify strengths, weaknesses, and ways to enhance the well-being of vulnerable people. This book's coverage of a wide range of financial products and geographic regions makes for a unique and innovative perspective on this topic. It presents a balanced critique of credit and finance schemes under the assumption that reform is the most practical means to improve human well-being.

Sovereign Debt - From Safety to Default (Hardcover, New): Robert W Kolb Sovereign Debt - From Safety to Default (Hardcover, New)
Robert W Kolb
R1,988 R1,605 Discovery Miles 16 050 Save R383 (19%) Ships in 7 - 11 working days

An intelligent analysis of the dangers, opportunities, and consequences of global sovereign debt

Sovereign debt is growing internationally at a terrifying rate, as nations seek to prop up their collapsing economies. One only needs to look at the sovereign risk pressures faced by Greece, Spain, and Ireland to get an idea of how big this problem has become. Understanding this dilemma is now more important than ever, that's why Robert Kolb has compiled "Sovereign Debt." With this book as your guide, you'll gain a better perspective on the essential issues surrounding sovereign debt and default through discussions of national defaults, systemic risk, associated costs, and much more. Historical studies are also included to provide a realistic framework of reference.Contains up-to-date research and analysis on sovereign debt from today's leading practitioners and academicsDetails the dangers of defaults and their associated systemic risksExplores the past, present, and future of sovereign debt

The repercussions of a national default are all-encompassing as global markets are intricately interwoven in the modern world. "Sovereign Debt" examines what it will take to overcome the challenges of this market and how you can deal with the uncertainty surrounding it.

From Asian to Global Financial Crisis - An Asian Regulator's View of Unfettered Finance in the 1990s and 2000s... From Asian to Global Financial Crisis - An Asian Regulator's View of Unfettered Finance in the 1990s and 2000s (Hardcover)
Andrew Sheng
R1,851 Discovery Miles 18 510 Ships in 10 - 15 working days

This is a unique insider account of the new world of unfettered finance. The author, an Asian regulator, examines how old mindsets, market fundamentalism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the current global crisis of 2008 2009. This book shows how the Japanese zero interest rate policy to fight deflation helped create the carry trade that generated bubbles in Asia whose effects brought Asian economies down. The study s main purpose is to demonstrate that global finance is so interlinked and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated. The book explains how current financial policies and regulation failed to deal with a global bubble and makes recommendations on what must change.

The Friedman-Lucas Transition in Macroeconomics - A Structuralist Approach (Paperback): Peter Galbacs The Friedman-Lucas Transition in Macroeconomics - A Structuralist Approach (Paperback)
Peter Galbacs
R2,417 Discovery Miles 24 170 Ships in 7 - 11 working days

The Friedman-Lucas Transition in Macroeconomics: A Structuralist Approach considers how and to what extent monetarist and new classical theories of the business-cycle can be regarded as approximately true descriptions of a cycle's causal structure or whether they can be no more than useful predictive instruments. This book will be of interest to upper-division undergraduates, graduate students, researchers and professionals concerned with practical, theoretical and historical aspects of macroeconomics and business-cycle modeling.

Inflation Dynamics in South Africa - The Role of Thresholds, Exchange Rate Pass-through and Inflation Expectations on Policy... Inflation Dynamics in South Africa - The Role of Thresholds, Exchange Rate Pass-through and Inflation Expectations on Policy Trade-offs (Paperback, Softcover reprint of the original 1st ed. 2017)
Eliphas Ndou, Nombulelo Gumata
R3,850 Discovery Miles 38 500 Ships in 7 - 11 working days

This book offers a comprehensive empirical analysis of South African inflation dynamics, using a variety of techniques including counterfactual analysis. The authors elaborate the roles in inflation of thresholds, nonlinearities and asymmetries introduced by economic conditions such as the size of exchange rate changes and volatility, GDP growth, inflation, output gap, credit growth, sovereign spreads and fiscal policy, providing new policy evidence on the impact of these. Ndou and Gumata apply techniques to determine the prevalence of updating inflation expectations, and reconsider the propagation effects of a number of inflation risk factors. Asking to what extent the evidence points to a need to enforce price stability and the anchoring of inflation expectation, the book fills existing gaps in South African Policy, and maintains a clear argument that price stability is consistent with the 3 to 6 per cent inflation target range, and that threshold application should form an important aspect of policy analysis in periods of macroeconomic uncertainty. As such, the book serves as an excellent reference text for academic and policy discussions alike.

The Effects of Political Institutions on Varieties of Capitalism (Paperback, Softcover reprint of the original 1st ed. 2017):... The Effects of Political Institutions on Varieties of Capitalism (Paperback, Softcover reprint of the original 1st ed. 2017)
Matthew P. Arsenault
R3,158 Discovery Miles 31 580 Ships in 7 - 11 working days

This book identifies and explores the mechanisms linking political institutions and variation in capitalist systems. A strong correlation exists between varieties of political regimes and varieties of capitalism: majoritarian political regimes are correlated with liberal market economies (LMEs) and consensus political regimes are correlated with coordinated market economies (CMEs). Still, correlation is not causation. Empirical findings illustrate that partisanship and policy legacies, the number of political parties, electoral rules, and constitutional constraints are significant indicators of LMEs and CMEs. Arsenault finds that majoritarian institutions create an environment of adversarial politics and strong competition between actors, which makes credible commitment to nonmarket coordination mechanisms unlikely. Consensus institutions, on the other hand, promote an atmosphere of cooperation and coordination between actors, thus encouraging credible commitment to nonmarket coordination mechanisms. Qualitative case studies of Germany, Britain, and New Zealand confirm the quantitative findings and suggest that political regimes were instrumental in shaping the economic adjustment paths of these countries during the era of liberalization in the 1980s.

Enacting Dismal Science - New Perspectives on the Performativity of Economics (Paperback, 1st ed. 2016): Ivan Boldyrev,... Enacting Dismal Science - New Perspectives on the Performativity of Economics (Paperback, 1st ed. 2016)
Ivan Boldyrev, Ekaterina Svetlova
R699 Discovery Miles 6 990 Ships in 7 - 11 working days

In this book, sociologists, philosophers, and economists investigate the conceptual issues around the performativity of economics over a variety of disciplinary contexts and provide new case studies illuminating this phenomenon. In featuring the latest contributions to the performativity debate the book revives discussion of the fundamental questions: What precise meaning can we attribute to the notion of performativity? What empirical evidence can help us recognize economics as performative? And what consequences does performativity have for contemporary societies? The contributions demonstrate how performativity can serve as a powerful conceptual resource in dealing with economic knowledge, as an inspiring framework for investigating performative practices, and as an engine of discovery for thinking of the economic proper.

Finance, Society and Sustainability - How to Make the Financial System Work for the Economy, People and Planet (Hardcover, 1st... Finance, Society and Sustainability - How to Make the Financial System Work for the Economy, People and Planet (Hardcover, 1st ed. 2017)
Nick Silver
R906 Discovery Miles 9 060 Ships in 10 - 15 working days

This book is a critical analysis of the impact of the financial system on the economy, society and the natural environment. It cuts through the noise to looks at its purpose, its activities, and what it does in practice. Unlike other books that cover the last financial crisis and the risk of another one; this book is about the consequence of the financial system continuing in its current form. It argues that the financial system is a construct of flawed economic theories, designed in the hope that the market will efficiently allocate society's capital. Instead, the finance sector allocates savings and investment to maximize its own revenues, with resulting collateral damage to the economy, society and the environment. Although governments try to preserve and regulate the existing system, it is being replaced by a new system driven by technological innovation. The book describes the opportunities this presents for a renaissance of the financial system to actually meet the needs of society, and to re-engineer our economy to avoid environmental crisis. The book is for anyone who would like to understand the finance system's purpose, what it does in practice and its impact on the real world. For those working in the industry it provides an overview of the system, their place within it, and how to bring about change. For students and academics it provides a valuable critique of the financial system, and the theories on which it is based. For financial policymakers and regulators it identifies key challenges in their activities.

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