As countries recover from the coronavirus pandemic, they are confronted with an even more challenging debt crisis. Xavier Debrun argues in the foreword that in deciding where we go from here that there is no longer a consensus regarding the optimum design and enforcement of fiscal rules. Rather we must address a series of questions and challenges to the conventional wisdom. This book provides an opportunity for scholars to explore these questions from an international perspective, with ref...

The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period. Why the magnitude of that ratio has changed over time is the subject of Michael D. Bordo and Lars Jonung's classic study, originally published as The Long-Run Behavior of the Velocity of Circulation. Supported by statistical data, econometric estimation techniques, and meticu...

The impact of Swedish economists on the development of modern economic analysis has been profound. This volume contains twelve essays dealing with various aspects of the development of economics and economic thought from the mid 18th century to the middle of the 20th century. Most of the essays cover the golden age of Swedish economics, the early decades of the 20th century, and deal with such figures as Knut Wicksell, Gustav Cassel, Eli Heckscher, Bertil Ohlin, Erik Lindahl and Erik Lundb...

As the new Russian state struggles with the transition to a market economy, the need for radical monetary reform becomes increasingly urgent. The choice of reform is crucial, for it will largely determine Russia's future economic performance. In order to break free of the lingering effects of Soviet central planning, the new Russian state needs a stable, convertible currency. Steve H. Hanke, Lars Jonung and Kurt Schuler propose that Russia establishes a currency board which would issue a R...

First Published in 2008. With contributions from a range of leading experts in this rapidly changing field, the book will be of particular value to economists, national and international institutes, banks and other financial institutions and the academic world. For ease of reference, the text is supported with charts and table, and there is a complete index.

From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effectsAs chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the eco...

The definitive guide to the history of economic thought, fully revised twenty years after first publicationRoger Backhouse's definitive guide takes the story of economic thinking from the ancient world to the present day, with a brand-new chapter on the twenty-first century and updates throughout to reflect the latest scholarship.Covering topics including globalisation, inequality, financial crises and the environment, Backhouse brings his breadth of expert...

The truth behind the rise of China and whether or not it will be able to maintain itHow did China transform itself so quickly? In Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise, Revised Edition Carl Walter and Fraser Howie go deep inside the Chinese financial machine to illuminate the social and political consequences of the unique business model that propelled China to economic powerhouse status, and question whether this r...

Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six cou...

The 800 years of scientific breakthroughs that will help salvage your retirement plansPhysics, Chemistry, Astronomy, Biology; every field has its intellectual giants who made breakthrough discoveries that changed the course of history. What about the topic of retirement planning? Is it a science? Or is retirement income planning just a collection of rules-of-thumb, financial products and sales pitches? In The 7 Most Important Equations for Your Retirement...And...

Marx's Capital is one of the most important texts of the modern era. The three volumes, published between 1867 and 1883, changed the destiny of countries, politics and people across the world - and continue to resonate today. In this book, David Harvey lays out their key arguments.In clear and concise language, Harvey describes the architecture of capital according to Marx, placing his observations in the context of capitalism in the second half of the nineteenth century. ...

The rise of the renminbi and what it means for forex marketsChinese authorities have ambitious plans to "internationalize" the renminbi, transforming it from a tightly controlled domestic legal tender into a global currency for international trade, held by both private and public sector asset managers. The Offshore Renminbi examines this impending currency revolution, outlining why the emergence of China as a major economic power will likely soon be matche...