An empirical assessment of whether participatory governance reforms within the EU enhance or endanger democracy. Many consider allowing civil society to take an active role in EU policy-making to offer the most effective means of enhancing democracy in the EU, whereas others argue that such attempts deepen the EU's democratic deficit.

Uses a game theoretic approach to explore which economic policies are 'credible' and 'politically feasible', questions that had eluded traditional macroeconomic approaches.

Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains...

In the winter of 1933, the American financial and economic system collapsed. Since then economists, policy makers and financial analysts throughout the world have been haunted by the question of whether "It" can happen again. In 2008 "It" very nearly happened again as banks and mortgage lenders in the USA and beyond collapsed. The disaster sent economists, bankers and policy makers back to the ideas of Hyman Minsky – whose celebrated 'Financial Instability Hypothesis' is widely regarded as...

Trying to summarize the essentials of macroeconomic theory in the wake of the financial crisis that has shaken not only Western economies but also the macroeconomic profession is no easy task. In particular, the notion that markets are self-correcting and always in equilibrium appears to have taken a heavy blow. However, the jury is still out on which areas should be considered as failures and what which constitute the future of research.The overall aim of this text is to provide a...

The dramatic and well chronicled crisis of 2007/8 marked a watershed moment for all stakeholders in global capital markets. In the aftermath, financial markets have become even more tightly coupled as correlations in returns across multiple asset classes have been at historically elevated levels. Investors and fund managers are, to a much larger degree than previously and often much more than they realize, subject to the risk of severe wealth destruction. The ultimate hazard, which is not ...

This book contains the proceedings of a conference held in honor of Robert P. Flood Jr. Contributors to the conference were invited to address many of the topics that Robert Flood has explored including regime switching, speculative attacks, bubbles, stock market voloatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. The results, contained in this volume, include five papers on topics in international finance.

The UK's Brexit vote in 2016 and the inconclusive general election just 12 months later have unleashed a wave of chaos and uncertainty - on the eve of formal negotiations with the EU. Denis MacShane - former MP and Europe minister under Tony Blair - has a unique insider perspective on the events that led to the Brexit vote and ultimately to Theresa May's ill-fated election gamble of June 2017.He argues that Brexit will not mean full rupture with Europe and that British business wil...

This book presents a comparative perspective to the study of European politics, focusing on the unique and transformative effect of European Union on the politics of its member states - in effect, the Europeanization of European politics. For no other world region is there a similar intensity of Treaty and other obligations on a set of neighboring states, nor a comparable depth of of supranational governance. The concept of Europeanism as an evaluative theme is used to explore this unique,...

This is a collection of theoretical papers, including contributions by Partha Dasgupta and three Nobel prize-winning economists: Kenneth Arrow, Amartya Sen, and Joseph Stiglitz. Originally published in 1982.

Europe has not been so weak and divided for a long time. Buffeted by a succession of crises, it has shown a strong collective survival instinct but a poor capacity to deliver. In times when the tectonic plates are shifting and tension between global markets and national democracies is rising, can Europe hold together, under what termsand indeed for what purpose? The euro crisis has left big scars and is not over yet. Economic divergence has grown between and within countries, leading in tu...

This study combines an account of Blair, Chirac, Schröder and their attitudes towards European integration. It analyzes political discourses on 'national interests' and the EU, the frequently debated role of political discourse, the concept of national interest, and offers an alternative point of view on intergovernmental interaction.