Author: Sebastian Edwards
Publisher: Princeton University Press
ISBN: 0691196044
Category : Business & Economics
Languages : en
Pages : 288

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Book Description
The untold story of how FDR did the unthinkable to save the American economy.

Author: Jerome E. Roos
Publisher: Princeton University Press
ISBN: 0691184933
Category : Business & Economics
Languages : en
Pages : 413

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Book Description
How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy.

Author: Martin G. Gilman
Publisher: MIT Press
ISBN: 0262014653
Category : Business & Economics
Languages : en
Pages : 355

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Book Description
Review: "In 1998, President Boris Yeltsin's government defaulted on its domestic debt and Russia experienced a financial meltdown that brought it to the brink of disaster. In No Precedent, No plan, Martin Gilman offers an insider's view of Russia's financial crisis. As the International Monetary Fund's senior person in Moscow, Gilman was in the eye of the storm. Russia's policy response to the economic collapse stemming from the disintegration of the Soviet Union was chaotic. Fiscal deficits loomed in anticipation of future budget revenue that never seemed to materialize--despite repeated promises to the IMF. The rapid buildup of sovereign debt would have challenged even a competent government. In the new Russia, with its barely functioning government and no consensus on the path toward democratic and economic transformation, domestic politics trumped economic common sense." "Gilman argues that the debt default, although avoidable, actually spurred Russia to integrate its economy with the rest of the world. In analyzing the ordeal of the 1998 crisis, Gilman suggests that the IMF helped Russia avoid an even greater catastrophe. He details the IMF's involvement and underscores the unique challenge that Russia presented to the IMF. There really was no precedent, even if economist Joseph Stiglitz and others argued otherwise. In recounting Russia's emergence from the IMF's tutelage, Gilman explains how the shell-shocked Russian public turned to Vladimir Putin in search of stability after the trauma of 1998. And although Russia's own prospects are favorable, Gilman expresses concern that the 1998 Russian default could serve as an unfortunate precedent for sovereign defaults in the future with the IMF once again playing a similar role." "No Precedent, No Plan offers a definitive account--the first from an insider's perspective--of Russia's painful transition to a market economy."--BOOK JACKET

Author: Anne Marie Le Gloannec
Publisher: Cornell University Press
ISBN: 1501716689
Category : History
Languages : en
Pages : 281

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Book Description
Introduction : geopolitics without power politics -- From a strategy by default to a grand strategy? : in the beginning was enlargement -- The limits of enlargement : the end of certainties -- Peace, war, and confetti : an elusive security policy -- Boundaries and borderlands : from inside out? -- A crisis in the making? : the refugee crisis -- Competitive decadence? : Russia and the EU -- Conclusion : the waning geography of influence

Author: Philippe Bénéton
Publisher: Intercollegiate Studies Institute
ISBN:
Category : History
Languages : en
Pages : 248

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Book Description
Philippe Beneton, a prominent French religious conservative, has long meditated on Tocqueville, and Equality by Default is Tocquevillian in that it does not offer a partisan polemic, but rather paints a picture of contemporary life-a picture that is also a guide for discernment for those who have a difficult time "seeing" contemporary liberalism for what it is. Artfully translated by Ralph Hancock, Equality by Default offers a unique and strikingly insightful account of the late-modern mind.

Author: Carmen M. Reinhart
Publisher: Princeton University Press
ISBN: 0691152640
Category : Business & Economics
Languages : en
Pages : 513

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Book Description
An empirical investigation of financial crises during the last 800 years.

Author: Michael A. Stegman
Publisher: DIANE Publishing
ISBN: 0788131311
Category :
Languages : en
Pages : 135

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Book Description
A research & commentary on the critical policy issue of whether or not racial discrimination exists in the home mortgage lending industry. A collection of essays on this topic by experts such as John Yinger, Stephen Ross, & George Galster. Also includes commentaries on mortgage performance & housing market discrimination, default rates & their place in the controversy, & the role of FHA data in the lending discrimination discussion. Graphs, charts.

Author: Mark Aguiar
Publisher: Princeton University Press
ISBN: 0691189242
Category : Business & Economics
Languages : en
Pages : 200

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Book Description
An integrated approach to the economics of sovereign default Fiscal crises and sovereign default repeatedly threaten the stability and growth of economies around the world. Mark Aguiar and Manuel Amador provide a unified and tractable theoretical framework that elucidates the key economics behind sovereign debt markets, shedding light on the frictions and inefficiencies that prevent the smooth functioning of these markets, and proposing sensible approaches to sovereign debt management. The Economics of Sovereign Debt and Default looks at the core friction unique to sovereign debt—the lack of strong legal enforcement—and goes on to examine additional frictions such as deadweight costs of default, vulnerability to runs, the incentive to “dilute” existing creditors, and sovereign debt’s distortion of investment and growth. The book uses the tractable framework to isolate how each additional friction affects the equilibrium outcome, and illustrates its counterpart using state-of-the-art computational modeling. The novel approach presented here contrasts the outcome of a constrained efficient allocation—one chosen to maximize the joint surplus of creditors and government—with the competitive equilibrium outcome. This allows for a clear analysis of the extent to which equilibrium prices efficiently guide the government’s debt and default decisions, and of what drives divergences with the efficient outcome. Providing an integrated approach to sovereign debt and default, this incisive and authoritative book is an ideal resource for researchers and graduate students interested in this important topic.

Author: Philippe Besnard
Publisher: Springer Science & Business Media
ISBN: 3662056895
Category : Computers
Languages : en
Pages : 221

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Book Description
This book is written for those who are interested in a fonnalization of human reasoning, especially in order to build "intelligent" computer systems. Thus, it is mainly designed for the Artificial Intelligence community, both students and researchers, although it can be useful for people working in related fields like cognitive psychology. The major theme is not Artificial Intelligence applications, although these are discussed throughout in sketch fonn. Rather, the book places a heavy emphasis on the fonnal development of default logic, results and problems. Default logic provides a fonnalism for an important part of human reasoning. Default logic is specifically concerned with common sense reasoning, which has recently been recognized in the Artificial Intelligence literature to be of fundamental importance for knowledge representation. Previously, fonnalized reasoning systems failed in real world environments, though succeeding with an acceptable ratio in well-defined environments. This situation enabled empirical explorations and the design of systems without theoretical justification. In particular, they could not be compared since there was no basis to judge their respective merits. Default logic turned out to be very fruitful by proving the correctness of some of them. We hope that this book will initiate other successful developments in default logic.

Author: Pat Tucker
Publisher: Simon and Schuster
ISBN: 1593093144
Category : Fiction
Languages : en
Pages : 370

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Book Description
Roxanne's husband, Parker Redman, is shocked when he's arrested for delinquent child support, especially since the devoted husband hasn't fathered any children. The Parkers' best friends, James and Serena, are in the final stages of a bitter divorce. Just when James thinks his nightmare is over, he learns his daughter has a different daddy. For the love of money, single mom Lachez Baker is a ghetto-fabulous mother of three who seems to have it all, thanks to money from her children's fathers. But soon, her life of designer clothes, endless parties, and steady cash collides with the man who's been the target of her carefully crafted paternity fraud. From author Pat Tucker comes a drama-filled tale of lies, schemes and consequences as these men discover the importance of knowing the paternity laws in your state.