Wichita was founded in 1870 at the junction of the Little and Big Arkansas Rivers in south central Kansas. From the very beginning, the rivers have been a focus for social and recreational activity. Parks, both public and private, were established along these waterways near downtown to capitalize on this natural asset and have gone through many changes. Some of these parks are now over 100 years old, but one no longer exists, having literally been dug up and hauled away in wheelbarrows in ...

First published in 1998. A profound transformation of the commercial banking industry has occurred in recent years. The consolidation of local, independent banks into multi-bank holding company structures has altered the landscape of commercial banking. The Transformation of Commercial Banking in the United States, 1956-1991 focuses on the effect of restrictive state branch banking laws on the consolidation of commercial banks in the United States. The central thesis of this study is that ...

Most commonly used in economic and public policy decisions, benefit-cost analysis traditionally attempts to calculate a bottom line by assigning monetary values to all factors associated with a proposed project or action. By contrast, multiple account benefit-cost analysis recognizes that all values are complex and that not all consequences can be expressed in monetary terms or incorporated into one summary measure of net benefit.In this textbook, designed for practitioners as well...

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...

This book discusses the causes of slow growth in the developed world after the early 1990s from a Modern Monetary Theory perspective. Policy proposals from MMT proponents that aim to rejuvenate the labour market without causing a resurgence of inflation will be examined.Modern Monetary Theory is an outgrowth of the heterodox post-Keynesian school of economics, and the overall scope of the theory is often obscured, or mangled, in popular discussions. This text outlines its key conce...

The asymmetry of responsibilities between management and corporate governance both for day-to-day operations and the board’s monthly or quarterly review and evaluation remains an unresolved challenge. Expertise in the area of risk management is a fundamental requirement for effective corporate governance, if not by all, certainly by some board members. This means that along with board committees such as "compensation", "audit", "strategy" and several others, "risk management" committees mu...

"Clear explanations and concrete examples of how the behavioral orientation in economics can contribute to the world of cost/benefit policy formulation." — ChoiceThe White House Office of Information and Regulatory Affairs (OIRA) is the United States' regulatory overseer. In Valuing Life, New York Times–bestselling author and legal scholar Cass R. Sunstein draws on his firsthand experience as the Administrator of OIRA from 2009 to 2012 to ...

In the 11 articles in this first of two parts, top scholars summarize and analyze recent scholarship in corporate finance. Covering subjects from corporate taxes to behavioral corporate finance and econometric issues, their articles reveal how specializations resonate with each other and indicate likely directions for future research. By including both established and emerging topics, Volume 2 will have the same long shelf life and high citations that characterize Volume 1 (2003). - Presen...

The financial crisis has been blamed on reckless bankers, irrational exuberance, government support of mortgages for the poor, financial deregulation, and expansionary monetary policy. Specialists in banking, however, tell a story with less emotional resonance but a better correspondence to the evidence: the crisis was sparked by the international regulatory accords on bank capital levels, the Basel Accords.In one of the first studies critically to examine the Basel Accords, En...

This is a much-needed work in the financial literature, and it is the first book ever to analyse the use of Special Purpose Acquisition Companies (SPACs) from a theoretical and practical perspective. By the end of 2020, more than 240 SPACs were listed in the US (on NASDAQ or the NYSE), raising a record $83 billion. The SPAC craze has been shaking the US for months, mainly because of its simplicity: a bunch of investors decides to buy shares at a fixed price in a company that initially has ...

Japan’s weak economic performance in the 1990s has had implications not only for its own people, but for the world economy more generally, given Japan’s importance as a trading partner and supplier of capital. Therefore, it is essential that Japan unlock its growth potential. The IMF has worked with the Japanese authorities to identify the policies needed to bring Japan’s economy out of its recent slump. This book contributes to this ongoing debate, whose major topics include the need for an ...

Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact on allocation of savings, financing of investment, economic growth, the stability of the financial system and the transmission of monetary policy.This collection of research contributions includes evaluations of trends in the European financial service industry and examinations of the driving forces of efficiency, competitio...