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Books > Business & Economics > Economics > Macroeconomics

Monetary Chaos in Europe - The End of an Era (Hardcover): Brendan Brown Monetary Chaos in Europe - The End of an Era (Hardcover)
Brendan Brown
R2,853 Discovery Miles 28 530 Shipped within 7 - 12 working days

First published in 1988, this reissue reconstructs the reaction of financial markets to war, defeat, and revolution in Europe, from the assassination of Archduke Franz Ferdinand in June 1914, to the bankruptcy of Germany in July 1931. Dr. Brown demonstrates how the contemporary investor can improve the wisdom of his decisions by gaining an understanding of the financial history of these years. He also demonstrates how the skilled investor might project different political and economic realities and estimate their probability of recurrence.
In his reconstruction work, Brendan Brown has undertaken extensive research into the financial press in the various European countries, seeing this as a prime clue to the mood in markets at the time. The findings will interest not just economists and financial specialists, but also readers keen to improve their understanding of the political and social events of the period.

The Economics of Deflation (Hardcover): Pierre L. Siklos The Economics of Deflation (Hardcover)
Pierre L. Siklos
R11,361 Discovery Miles 113 610 Shipped within 7 - 12 working days

This collection of seminal papers examines how economies behave under deflationary conditions. The volumes cover both theoretical and empirical aspects of this important subject. The editor presents articles exploring whether, and under what conditions, deflation can lead to beneficial economic outcomes, and also articles emphasizing that deflation should be avoided at all costs. Further sections examine specialized topics of the economics of deflation; including wage rigidities, the liquidity trap, and the zero lower bound of interest rates. A selection of important case studies of economies in deflation completes this comprehensive collection.

The Phenomenon of Money (Hardcover): Thomas Crump The Phenomenon of Money (Hardcover)
Thomas Crump
R2,857 Discovery Miles 28 570 Shipped within 7 - 12 working days

First published in 1981, this book concerns itself with the different ways in which money is used, the relationships which then arise, and the institutions concerned in maintaining its various functions. Thomas Crump examines the emergence of institutions with familiar and distinctive monetary roles: the state, the market and the banking system. However, other uses of money - such as for gambling or the payment of fines - are also taken into account, in an exhaustive, encyclopedic treatment of the subject, which extends far beyond the range of conventional treatises on money.

Open Economy Macroeconomics (Hardcover): Norman C. Miller Open Economy Macroeconomics (Hardcover)
Norman C. Miller
R9,459 Discovery Miles 94 590 Shipped within 7 - 12 working days

For this two-volume set the editor has selected the key contributions to the field of open economy macroeconomics which have been made over the past half century and more. The articles selected cover traditional open economy models, first generation intertemporal open economy models, the structure of open economy macro-models, some controversies and puzzles, and second generation intertemporal models. Norman Miller has written an authoritative introduction to each volume, which both summarizes and offers a critical appraisal of the major ideas which have shaped macroeconomics during the last fifty years. This collection will be of particular interest to specialists and graduate students in the fields of international finance and open economy macroeconomics.

The Future of the International Monetary System (Hardcover, illustrated edition): Marc Uzan The Future of the International Monetary System (Hardcover, illustrated edition)
Marc Uzan
R2,720 Discovery Miles 27 200 Shipped within 7 - 12 working days

Is the international financial architecture debate over? Not according to leading experts gathered together in this impressive volume who try to identify the key trends that will fashion the international financial system in the years ahead. As history has shown, the evolution of the international monetary system is a slow process. However, the authors argue that we may be entering a new era in which a combination of factors will have lasting consequences on the functioning of the international monetary system and the future role of the IMF. This book combines the thoughts and opinions of distinguished contributors from academia, the private sector and central banks. In light of the financial crises of the 1990s, it provides a first attempt to reflect on debates surrounding the current state of the international financial system and predict some possible future scenarios. The authors examine several broad areas including: * the evolution of the international monetary and financial system * prospective sources of finance for the developing world and the future of the sovereign debt market * the evolving debate on capital account liberalization * exchange rate regimes and future monetary arrangements * the aftermath of the sovereign debt restructuring mechanism debate * governance of the international financial system. This important overview of the controversies surrounding the future design and development of the international financial system will be welcomed by academics and professional economists interested in banking, monetary economics and international finance. It will also be of great value to finance ministries, supervisory authorities, central banks and financial institutions.

The New Evolutionary Economics (Hardcover): Kurt Dopfer, Jason Potts The New Evolutionary Economics (Hardcover)
Kurt Dopfer, Jason Potts
R14,682 Discovery Miles 146 820 Shipped within 7 - 12 working days

This three volume set gathers together selected key articles in evolutionary economics, ordering these into the domains of micro analysis (concerned with agents), meso analysis (concerned with rule populations and trajectories) and macro analysis (concerned with the structure and development of the whole economy). This authoritative collection, with an original introduction by the editors, will be of interest to scholars and researchers seeking to understand how evolutionary economics fits together and to advance such an integrated approach.

German Europe (Hardcover, New): Ulrich Beck German Europe (Hardcover, New)
Ulrich Beck; Translated by Rodney Livingstone
R369 R304 Discovery Miles 3 040 Save R65 (18%) Shipped within 7 - 13 working days

The euro crisis is tearing Europe apart. But the heart of the matter is that, as the crisis unfolds, the basic rules of European democracy are being subverted or turned into their opposite, bypassing parliaments, governments and EU institutions. Multilateralism is turning into unilateralism, equality into hegemony, sovereignty into the dependency and recognition into disrespect for the dignity of other nations. Even France, which long dominated European integration, must submit to Berlin's strictures now that it must fear for its international credit rating. How did this happen? The anticipation of the European catastrophe has already fundamentally changed the European landscape of power. It is giving birth to a political monster: a German Europe. Germany did not seek this leadership position - rather, it is a perfect illustration of the law of unintended consequences. The invention and implementation of the euro was the price demanded by France in order to pin Germany down to a European Monetary Union in the context of German unification. It was a quid pro quo for binding a united Germany into a more integrated Europe in which France would continue to play the leading role. But the precise opposite has happened. Economically the euro turned out to be very good for Germany, and with the euro crisis Chancellor Angela Merkel became the informal Queen of Europe. The new grammar of power reflects the difference between creditor and debtor countries; it is not a military but an economic logic. Its ideological foundation is `German euro nationalism' - that is, an extended European version of the Deutschmark nationalism that underpinned German identity after the Second World War. In this way the German model of stability is being surreptitiously elevated into the guiding idea for Europe. The Europe we have now will not be able to survive in the risk-laden storms of the globalized world. The EU has to be more than a grim marriage sustained by the fear of the chaos that would be caused by its breakdown. It has to be built on something more positive: a vision of rebuilding Europe bottom-up, creating a Europe of the citizen. There is no better way to reinvigorate Europe than through the coming together of ordinary Europeans acting on their own behalf.

Reinventing Functional Finance - Transformational Growth and Full Employment (Paperback, New edition): Edward J. Nell, Mathew... Reinventing Functional Finance - Transformational Growth and Full Employment (Paperback, New edition)
Edward J. Nell, Mathew Forstater
R1,054 Discovery Miles 10 540 Shipped within 7 - 12 working days

This ambitious book seeks both to revive and revise the idea of `functional finance'. Followers of this doctrine believe that government budgets should concentrate solely on their macroeconomic impact on the economy, rather than reflecting a concern for sound finance and budgetary discipline. Reinventing Functional Finance examines the origins of this idea and then considers it in a modern context. The authors explore the concept of NAIRU and argue that modern economies can operate at the level of full employment without provoking unmanageable inflation. They also contend that budget deficits do not have the deleterious effects commonly ascribed to them; the belief that they do rests on a misunderstanding of modern money. In this context, they highlight the relevance of Abba Lerner's famous dictum, `money is a creature of the State'. The authors also debate the merits of various proposals for `Employer of Last Resort' programs, which combine automatic stabilizers with the buffer stock principle. The book boasts an array of eminent contributors which includes, amongst others, James Duesenberry, Robert Eisner, Robert Heilbroner, Richard Musgrave, Edward Nell and Randall Wray. Financial economists, politicians, policymakers and bankers will welcome this provocative and refreshing book which challenges established economic thinking.

Economic and Monetary Union in Europe - Theory, Evidence and Practice (Paperback, New edition): Mark Baimbridge, Philip Whyman Economic and Monetary Union in Europe - Theory, Evidence and Practice (Paperback, New edition)
Mark Baimbridge, Philip Whyman
R729 Discovery Miles 7 290 Shipped within 7 - 12 working days

The introduction of a single currency within the European Union in its present form is without precedent in world history and will have far-reaching consequences for the future prosperity of the continent. Economic and Monetary Union in Europe brings together contributions from leading specialists which explain and evaluate the most important implications of economic and monetary union. The book examines theoretical aspects of monetary integration, illustrates the historical lessons to be learned from these and discusses the resulting policy consequences. This book will be essential reading for undergraduates studying European monetary integration and will prove to be a key source of reference for academics and post graduates working in this area.

From Keynesianism to Monetarism - The evolution of UK macroeconometric models (Hardcover): Peter Kenway From Keynesianism to Monetarism - The evolution of UK macroeconometric models (Hardcover)
Peter Kenway
R2,536 Discovery Miles 25 360 Shipped within 7 - 12 working days

Originally published in 1994, this book, divided into three parts, examines macroeconomic models in a non-technical way. Part I discusses the importance of macroeconomic modelling; Part II examines the rise and fall of Keynesian income-expenditure models; and part III evaluates the evidence and presents a critique of how we can learn from these models now and in the future.

The Future of Global Currency - The Euro Versus the Dollar (Hardcover): Benjamin J Cohen The Future of Global Currency - The Euro Versus the Dollar (Hardcover)
Benjamin J Cohen
R2,644 Discovery Miles 26 440 Shipped within 7 - 12 working days

Can the euro challenge the supremacy of the U.S. dollar as a global currency? From the time Europe's joint money was born, many have predicted that it would soon achieve parity with the dollar or possibly even surpass it. In reality, however, the euro has remained firmly planted in the dollar's shadow. The essays collected in this volume explain why. Because of America's external deficits and looming foreign debt, the dollar can never be as dominant as it once was. But Europe's money is unable to mount an effective challenge. The euro suffers from a number of critical structural deficiencies, including an anti-growth bias that is built into the institutions of the monetary union and an ambiguous governance structure that sows doubts among prospective users. As recent events have demonstrated, members of the euro zone remain vulnerable to financial crisis. Moreover, lacking a single voice, the bloc continues to punch below its weight in monetary diplomacy. The world seems headed toward a leaderless monetary order, with several currencies in contention but none clearly dominant. This collection distils the views of one of the world's leading scholars in global currency, and will be of considerable interest to students and scholars of international finance and international political economy.

Resistance to Change in the Soviet Economic System - A property rights approach (Hardcover): Jan Winiecki Resistance to Change in the Soviet Economic System - A property rights approach (Hardcover)
Jan Winiecki
R2,323 Discovery Miles 23 230 Shipped within 7 - 12 working days

First published in 1991, this book uses a property rights perspective to analyse why there is such widespread resistance to change in the Soviet Economic System. Many within the ruling stratum benefit considerably from their positions, particularly in terms of access to goods and services. In an original conclusion Jan Winiecki argues that a cost-effective way of removing the resistance of the parasitic ruling stratum would be a system of compensatory payments.

The Measurement of Individual Well-Being and Group Inequalities - Essays in Memory of Z. M. Berrebi (Hardcover): Joseph... The Measurement of Individual Well-Being and Group Inequalities - Essays in Memory of Z. M. Berrebi (Hardcover)
Joseph Deutsch, Jacques Silber
R2,655 Discovery Miles 26 550 Shipped within 7 - 12 working days

Although most traditional economic theory puts the individual at the centre of analysis, more recent approaches have acknowledged the importance of a wider sense of identity as a determinant of individual behaviour. Whether it is ethnicity, religion or gender, group membership is a central part of human life. This book presents new advances in areas which consider both the individual and the group when measuring inequalities and well-being. The first part of the book covers topics such as relative deprivation and happiness, domains where even economists have now recognized the importance of reference groups in the assessment of individuals' well-being. The second part is devoted to the concept of polarization, a growing field of inquiry among economists. The third part looks at income and wage intra-generational mobility, while the fourth part reports on recent advances in measuring the significant differences between and within groups. The book concludes with several chapters devoted to poverty and social exclusion, stressing in particular the need for a multidimensional approach to these topics. This collection offers a fresh look at the way individual well-being should be measured, by emphasizing the role of reference groups and the idea of polarization, as well as stressing the impact on well-being of changes over time to the relative position of individuals. This book should be of interest to graduate students and researchers working in the field of development economics, inequality and poverty.

Regional Currency Areas in Financial Globalization (Hardcover, illustrated edition): Andre Cartapanis, Florence Legros, Patrick... Regional Currency Areas in Financial Globalization (Hardcover, illustrated edition)
Andre Cartapanis, Florence Legros, Patrick Artus
R2,787 Discovery Miles 27 870 Shipped within 7 - 12 working days

This book is an up-to-date, authoritative and comprehensive analysis of the key issues and challenges facing regional currency area projects in the context of financial globalization. The authors focus on several central issues that emerged during the experiences of the 1990s and 2000s: exchange-rate regimes and optimal currency area theory; exchange-rate regimes in emerging countries, international capital markets and regional currency areas; EMU and the euro; exchange-rate regimes in Central and Eastern Europe; Asia and Latin America; dollarization and the coordination of macroeconomic policies in the presence of regional currency areas. Regional Currency Areas in Financial Globalization will have wide appeal to scholars and researchers of money and finance, and international economics, as well as economists working in international financial institutions or development banks, and bankers.

Problems of Economic Policy (Hardcover): Keith Hartley Problems of Economic Policy (Hardcover)
Keith Hartley
R2,537 Discovery Miles 25 370 Shipped within 7 - 12 working days

First published in 1977, this is an applied economics text, in which the basic theory of any introductory economics couurse is applied to a whole range of UK macro- and micro-economic policy issues. The book is designed specifically for first and second year university students, with the aim of demonstrating the relevance of theory to policy, how theory can be applied to policy problems and, in the process, to improve their understanding of the theory itself.

British Macroeconomic Policy since 1940 (Hardcover): Jim Tomlinson British Macroeconomic Policy since 1940 (Hardcover)
Jim Tomlinson
R2,537 Discovery Miles 25 370 Shipped within 7 - 12 working days

Originally published in1985, Jim Tomlinson charters the route of British macroeconomic policy in the post-war era. This book argues that the objectives of macroeconomic policy have not been constant; that the emphasis has shifted from one item to another over time; and that this uncertainty and inconsistency over objectives goes a long way to explaining why macroeconomics management has not been a startling success.

The Global Financial Crisis (Hardcover): Mark P. Taylor, Richard H Clarida The Global Financial Crisis (Hardcover)
Mark P. Taylor, Richard H Clarida
R2,349 Discovery Miles 23 490 Shipped within 7 - 12 working days

The global financial crisis has sent shockwaves through the world's economies, and its effects have been deep and wide-reaching. This book brings together a range of applied studies, covering a range of international and regional experience in the area of finance in the context of the global downturn. The volume includes an exploration of the impact of the crisis on capital markets, and how corporate stakeholders need to be more aware of the decision-making processes followed by corporate executives, as well as an analysis of the policy changes instituted by the Fed and their effects. Other issues covered include research into the approach of solvent banks to toxic assets, the determinants of US interest rate swap spreads during the crisis, a new approach for estimating Value-at-Risk, how distress and lack of active trading can result in systemic panic attacks, and the dynamic interactions between real house prices, consumption expenditure and output. Highlighting the global reach of the crisis, there is also coverage of recent changes in the cross-currency correlation structure, the costs attached to global banking financial integration, the interrelationships among global stock markets, inter-temporal interactions between stock return differential relative to the US and real exchange rate in the two most recent financial crises, and research into the recent slowdown in workers' remittances. This book was published as a special issue of Applied Financial Economics.

A Guide to International Monetary Economics, Third Edition - Exchange Rate Theories, Systems and Policies (Hardcover, 3rd... A Guide to International Monetary Economics, Third Edition - Exchange Rate Theories, Systems and Policies (Hardcover, 3rd Revised edition)
Hans Visser
R2,421 Discovery Miles 24 210 Shipped within 7 - 12 working days

Now in its third incarnation, this widely acclaimed and popular text has again been fully updated and revised by the author. There is a bewildering array of models to explain the volatility of exchange rates since the collapse of the Bretton Woods system in the early 1970s. It is therefore invaluable that Hans Visser is able to bring method to this `model madness' by grouping the various theories according to the time period for which their explanation is relevant, and further subdividing them according to their assumptions as to price flexibility and international financial asset substitutability. A Guide to International Monetary Economics is a systematic overview of exchange rate theories, an analysis of exchange rate systems and a discussion of exchange rate policies including discussion of the obstacles that may confront policymakers while running any particular system. This third edition emphasises recent developments such as the creation and expansion of the euro and the radical solution of dollarisation. The book is a concise treatment of this complex field and does not encumber the reader with a surfeit of potentially distracting institutional details. As with previous editions, the emphasis is on the economic reasoning behind the formulae while introducing students to the mathematics that will enable them to pursue further reading. This book is aimed at postgraduate and advanced undergraduate students in general and international economics and international finance, as well as business management scholars and researchers specialising in finance. Professional economists wishing to bring up to date their knowledge of the subject will also find much within this book of value to them.

Modern Theories of Money - The Nature and Role of Money in Capitalist Economies (Paperback): Louis-Philippe Rochon, Sergio Rossi Modern Theories of Money - The Nature and Role of Money in Capitalist Economies (Paperback)
Louis-Philippe Rochon, Sergio Rossi
R1,236 Discovery Miles 12 360 Shipped within 7 - 12 working days

This book unites diverse heterodox traditions in the study of endogenous money - which until now have been confined to their own academic quarters - and explores their similarities and differences from both sides of the Atlantic. Bringing together perspectives from post-Keynesians, Circuitists and the Dijon School, the book continues the tradition of Keynes's and Kalecki's analysis of a monetary production economy, emphasising the similarities between the various approaches, and expanding the analytical breadth of the theory of endogenous money. The authors open new avenues for monetary research in order to fuel a renewed interest in the nature and role of money in capitalist economies, which is, the authors argue, one of the most controversial, and therefore fascinating, areas of economics. Providing new theoretical and empirical grounds for the construction of a general, policy oriented theory of money, this thought-provoking collection will appeal to academics, researchers and students interested in monetary economics. It will also be welcomed by monetary policymakers and central bank officials.

East Asia's Monetary Future - Integration in the Global Economy (Hardcover, illustrated edition): Suthiphand Chirathivat,... East Asia's Monetary Future - Integration in the Global Economy (Hardcover, illustrated edition)
Suthiphand Chirathivat, Emil-Maria Claassen, Jurgen Schroeder
R2,190 Discovery Miles 21 900 Shipped within 7 - 12 working days

East Asia's Monetary Future is an illuminating and valuable work which uniquely focuses on a long-term monetary view of the region. There are multiple and varied future scenarios which can be applied to this region - an enlarged Singapore-Brunei currency area, a greater China monetary bloc and even a Northeast Asian bloc comprising Japan and Korea. Leading scholars from East Asia, Europe and the US contribute valuable new insights to the key questions facing the organization and future of the monetary system in East Asia. Central questions discussed and analysed in the book include, amongst others: should the region move towards monetary union? Should countries peg their exchange rates to the US dollar? Is complete dollarization an option for East Asia? The authors argue that, having realized price stability over the last twenty years, in contrast to Latin America and Africa, the next logical step would be the gradual formation of various currency blocs within the region. This comprehensive discussion of the fundamental issues at stake will ensure the book's appeal to academics and researchers of Asian studies and financial economics. Financial experts working in this area and policymakers will also find much of interest to them within this book.

New Thinking in Macroeconomics - Social, Institutional, and Environmental Perspectives (Paperback): Jonathan M Harris, Neva R.... New Thinking in Macroeconomics - Social, Institutional, and Environmental Perspectives (Paperback)
Jonathan M Harris, Neva R. Goodwin
R862 Discovery Miles 8 620 Shipped within 7 - 12 working days

Presenting new and innovative perspectives on macroeconomics at the national and international levels, the editors bring together contributions on a wide range of topics including: current issues of globalization; transitional economies; inequality; unemployment; national and international debt; and the relationship of macroeconomic policies to the environment. The contributors draw on expertise in a variety of areas to provide insight into debates on macroeconomic policy in the US and Europe, as well as in developing and transitional economies. Themes explored include: * disequilibrium in the macroeconomy: analysis of the roots of instability and crisis in national and global systems * the evolution of macroeconomic institutions to stabilize and guide economic growth * the paradoxes of globalization, the dangers of unrestricted financial flows, and the impacts of globalization on national institutional coherence * macro and institutional strategies for the transitional economies of Russia and Eastern Europe * distributional and equity issues, including employment, housing, and homelessness * the impact of macroeconomic policy and debt on the environment * long-term growth and its relationship to well-being and environmental sustainability. This collection is a valuable resource for researchers and students of macroeconomics, presenting numerous case studies and examples which bring to life some of the theoretical debates that will determine the future of macroeconomics. Policy professionals in a variety of fields including politics, political economy, and international relations will also find much of interest in this enlightening volume.

Re-Examining Monetary and Fiscal Policy for the 21st Century (Hardcover): Philip Arestis, Malcolm C. Sawyer Re-Examining Monetary and Fiscal Policy for the 21st Century (Hardcover)
Philip Arestis, Malcolm C. Sawyer
R1,967 Discovery Miles 19 670 Shipped within 7 - 12 working days

This book provides a much-needed re-examination of monetary and fiscal policies, their application in the real world and their potential for macroeconomic policy in the 21st century. It provides a detailed discussion and critique of the 'new consensus' in macroeconomics along with the monetary and fiscal policies encapsulated within it. The authors argue that monetary policy is an ineffective means of controlling inflation and, if not used properly, can also have detrimental effects on the supply-side of the economy. They further contend that fiscal policy remains a potent instrument for influencing aggregate demand. Using detailed analysis the authors emphasise the role of capacity constraints as possible inflation barriers and argue against the NAIRU as a labour market phenomenon. The book concludes by eritically examining the economic policies of the European Economic and Monetary Union. Written by two of the leading scholars in the field, this provocative new volume is concise, well argued and rich in new insights. It will interest all those concerned with the current problems and future development of monetary and fiscal policy.

Studies in Macroeconomic History - The Fed and Lehman Brothers: Setting the Record Straight on a Financial Disaster... Studies in Macroeconomic History - The Fed and Lehman Brothers: Setting the Record Straight on a Financial Disaster (Hardcover)
Laurence M. Ball
R456 R366 Discovery Miles 3 660 Save R90 (20%) Shipped within 7 - 11 working days

The bankruptcy of the investment bank Lehman Brothers was the pivotal event of the 2008 financial crisis and the Great Recession that followed. Ever since the bankruptcy, there has been heated debate about why the Federal Reserve did not rescue Lehman in the same way it rescued other financial institutions, such as Bear Stearns and AIG. The Fed's leaders from that time, especially former Chairman Ben Bernanke, have strongly asserted that they lacked the legal authority to save Lehman because it did not have adequate collateral for the loan it needed to survive. Based on a meticulous four-year study of the Lehman case, The Fed and Lehman Brothers debunks the official narrative of the crisis. It shows that in reality, the Fed could have rescued Lehman but officials chose not to because of political pressures and because they underestimated the damage that the bankruptcy would do to the economy. The compelling story of the Lehman collapse will interest anyone who cares about what caused the financial crisis, whether the leaders of the Federal Reserve have given accurate accounts of their actions, and how the Fed can prevent future financial disasters.

European Policies for a Knowledge Economy (Paperback, illustrated edition): Maria Joao Rodrigues European Policies for a Knowledge Economy (Paperback, illustrated edition)
Maria Joao Rodrigues
R688 Discovery Miles 6 880 Shipped within 7 - 12 working days

In 2000, the European Union adopted an overall strategy to effect transition to a knowledge economy. After coordinating the preparation of the Lisbon European Summit which launched this ten year strategy, Maria Joao Rodrigues provides a unique insight into the renewal of European economic and social policies. European Policies for a Knowledge Economy explores the information society and research and education policies which are being combined to build a stronger knowledge base, and enhance the growth potential of Europe via economic reforms, enterprise and innovation policies. The author ascertains that the European social model should be reformed by investing in people, improving welfare provision and fighting new forms of social exclusion. She goes on to argue that macroeconomic policies will help to advance these structural changes. The critical issues and underpinning debates that are highlighted include, amongst others: * reforms targeting the creation of more growth potential * macroeconomic policies which vitalise employment and structural change * policies for the information society aimed at improving standards of living * new priorities for national education policies towards lifelong learning * reforms of the labour markets for more and better jobs * implications of the Lisbon Strategy for the institutional reform of the European Union. Illustrating the challenges of a new strategic goal for European policies, this highly accessible book will be essential reading for a wide-ranging audience - scholars, public administrators, business people and anyone else with an interest in European policies and their implications for national agendas.

The Economics of an Ageing Population - Macroeconomic Issues (Hardcover, illustrated edition): Paolo Onofri The Economics of an Ageing Population - Macroeconomic Issues (Hardcover, illustrated edition)
Paolo Onofri
R2,869 Discovery Miles 28 690 Shipped within 7 - 12 working days

The Economics of an Ageing Population studies the effects of demographic transition on the economies of industrialised countries. The authors demonstrate that an ageing population does not necessarily lead to a reduction in growth, providing that the working population are more productive and save a greater percentage of their income. They look in detail at the examples of Italy and Japan, two countries which have the fastest ageing populations in Europe and the world respectively. The book begins by studying the past decade of stagflation in Japan. The authors argue that a reduction in innovation, shorter working hours and saturation of demand are to blame for the slow-down in growth, rather than demographic transition. They move on to investigate pension reforms in different countries and their macroeconomic effects on the redistribution of consumption between workers and retirees. They provide tools to compare different pension types (public pay-as-you-go versus privately funded) and argue that alternative pension systems should be evaluated according to their ability to increase potential output growth. Finally, the authors present an empirical model to simulate the impact on the world economy of interactions between countries in different phases of demographic transition. A rapidly ageing population is a problem which, before too long, will face most industrialised countries in the world. This book provides some of the answers to the difficult decisions governments and citizens will have to make. It will be required reading for academics and researchers with an interest in macroeconomics, demographics and public finance, and professional economists working in insurance houses, commercial banks and financial institutions.

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