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Curled Metal Inc.--Engineered Products Division
by Benson P. Shapiro Frank V. CespedesCurled Metal Incorporated has declining sales, but has developed a new product (curled metal pile driver pads) that, in field tests, deliver customer benefits that are many times CMI's manufacturing costs. Joseph Fernandez and Rajiv Sanwal of CMI's Engineered Products Division are responsible for formulating a strategy for the new product. A key issue is the price to charge for the pads. The case raises issues of analyzing market potential, aligning price with business strategy, and the implications of a price on development and execution of integrated strategic options.
The Curmudgeon's Guide to Getting Ahead: Dos and Don'ts of Right Behavior, Tough Thinking, Clear Writing, and Living a Good Life
by Charles MurrayFor those starting out in their careers--and those who wish to advance more quickly--this is a delightfully fussy guide to the hidden rules of the road in the workplace and in life. As bestselling author and social historian Charles Murray explains, at senior levels of an organization there are curmudgeons everywhere, judging your every move. Yet it is their good opinion you need to win if you hope to get ahead. Among the curmudgeon's day-to-day tips for the workplace: * Excise the word "like" from your spoken English * Don't suck up * Stop "reaching out" and "sharing" * Rid yourself of piercings, tattoos, and weird hair colors * Make strong language count His larger career advice includes: * What to do if you have a bad boss * Coming to grips with the difference between being nice and being good * How to write when you don't know what to say * Being judgmental (it's good, and you don't have a choice anyway) And on the great topics of life, the curmudgeon urges us to leave home no matter what, get real jobs (not internships), put ourselves in scary situations, and watch Groundhog Day repeatedly (he'll explain). Witty, wise, and pulling no punches, The Curmudgeon's Guide to Getting Ahead is an indispensable sourcebook for living an adult life.From the Hardcover edition.
Currencies, Capital, and Central Bank Balances
by John H. Cochrane, PhD; Kyle Palermo; John B. TaylorDrawing from their 2018 conference, the Hoover Institution brings together leading academics and monetary policy makers to share ideas about the practical issues facing central banks today. The expert contributors discuss U.S. monetary policy at individual central banks and reform of the international monetary and financial system. The discussion is broken down into seven key areas: 1) International Rules of the Monetary Game; 2) Banking, Trade and the Making of the Dominant Currency; 3) Capital Flows, the IMF's Institutional View and Alternatives; 4) Payments, Credit and Asset Prices; 5) Financial Stability, Regulations and the Balance Sheet; 6) The Future of the Central Bank Balance Sheet; and 7) Monetary Policy and Reform in Practice. With in-depth discussions of the volatility of capital flows and exchange rates, and the use of balance sheet policy by central banks, they examine relevant research developments and debate policy options.
Currencies, Capital Flows and Crises: A Post Keynesian Analysis of Exchange Rate Determination (Routledge Advances In Heterodox Economics Ser. #2)
by John T. HarveyBreaking from conventional wisdom, this book provides an explanation of exchange rates based on the premise that it is financial capital flows and not international trade that represents the driving force behind currency movements. John T. Harvey combines analyses rooted in the scholarly traditions of John Maynard Keynes and Thorstein Veblen with that of modern psychology to produce a set of new theories to explain international monetary economics, including not only exchange rates but also world financial crises. In the book, the traditional approach is reviewed and critiqued and the alternative is then built by studying the psychology of the market and balance of payments questions. The central model has at its core Keynes’ analysis of the macroeconomy and it assumes neither full employment nor balanced trade over the short or long run. Market participants’ mental model, which they use to forecast future exchange rate movements, is specified and integrated into the explanation. A separate but related discussion of currency crises shows that three distinct tension points emerge in booming economies, any one of which can break and signal the collapse. Each of the models is compared to post-Bretton Woods history and the reader is shown exactly how various shifts and adjustments on the graphs can explain the dollar’s ups and downs and the Mexican (1994) and Asian (1987) crises.
Currencies, Commodities and Consumption
by Kenneth W. ClementsCurrency values, prices, consumption and incomes are at the heart of the economic performance of all countries. In order to make a meaningful comparison between one economy and another, economists routinely make use of purchasing power parity (PPP) exchange rates, but while PPP rates are widely used and well understood, they take a lot of effort to produce and suffer from publication delays. Currencies, Commodities and Consumption analyses the strengths and weaknesses of two alternatives to PPP. Firstly, the so-called Big Mac Index, which uses hamburger prices as a standard of measurement, and second, a less well known technique which infers incomes across countries based on the proportion of consumption devoted to food. Kenneth W. Clements uses international macroeconomics, microeconomic theory and econometrics to provide researchers and policy makers with insights into alternatives to PPP rates and make sense of the ongoing instability of exchange rates and commodity prices.
Currencies of Imagination: Channeling Money and Chasing Mobility in Vietnam
by Ivan V. SmallIn Vietnam, international remittances from the Vietnamese diaspora are quantitatively significant and contribute important economic inputs. Yet beyond capital transfer, these diasporic remittance economies offer insight into an unfolding transformation of Vietnamese society through the extension of imaginations and ontological possibilities that accompany them. Currencies of Imagination examines the complex role of remittances as money and as gifts that flow across, and mediate between, transnational kinship networks dispersed by exile and migration.Long distance international gift exchanges and channels in a neoliberal political economy juxtapose the increasing cross-border mobility of remittance financial flows against the relative confines of state bounded bodies. In this contradiction Ivan V. Small reveals a creative space for emergent imaginaries that disrupt local structures and scales of desire, labor and expectation. Furthermore, the particular characteristics of remittance channels and mediums in a global economy, including transnational mobility and exchangeable value, affect and reflect the relations, aspirations, and orientations of the exchange participants. Small traces a genealogy of how this phenomenon has shifted through changing remittance forms and transfer infrastructures, from material and black market to formal bank and money services. Transformations in the affective and institutional relations among givers, receivers, and remittance facilitators accompany each of these shifts, illustrating that the socio-cultural work of remittances extends far beyond the formal economic realm they are usually consigned to.
Currency Board Arrangements Issues and Experiences
by Charles Enoch Toms J. T. BalioA report from the International Monetary Fund.
Currency Conflict and Trade Policy: A New Strategy for the United States
by C. Fred Bergsten Joseph GagnonConflicts over currency valuations are a recurrent feature of the modern global economy. To strengthen their international competitiveness, many countries resort to buying foreign currencies to make their exports cheaper and their imports more expensive. In the first decade of the twenty-first century, for example, China's currency manipulation practices were so flagrant that they produced a backlash in the United States and other trading partners, prompting threats of retaliation. How damaging is the practice of currency manipulation—and how extensive is the problem? This book by C. Fred Bergsten and Joseph E. Gagnon—two leading experts on trade, investment, and the effects of currency manipulation—traces the history, causes, and effects of currency manipulation and analyzes a range of policy responses that the United States could adopt. The book is an indispensable guide to a complex and serious problem and what might be done to solve it.
Currency Convertibility: The Gold Standard and Beyond (Routledge Explorations in Economic History #Vol. 3)
by Jorge Braga de Macedo Barry Eichengreen Jaime ReisThe spread of currency convertibility is one of the most dramatic trends of the late twentieth century. It reflects the desire of policymakers to integrate their economies into the global trading system and to attract financial capital and direct investment from abroad.In this book a team of leading international economists and economic historians look at parallel situations in the history of the international monetary system, focusing in particular on the gold standard. The concluding chapter uses a case study of modern Portugal to draw out implications for modern international monetary relations in Europe and for the rest of the world.
Currency Convertibility and the Transformation of Centrally Planned Economies
by Joshua E. Greene Peter IsardThis paper examines the problems in establishing currency convertibility- and the optimal timing- in formerly planned economies making the transition to market-oriented systems.
Currency Convertibility in the Economic Community of West African States
by John B Mclenaghan Saleh M. Nsouli Klaus-Walter RiechelOne of the principal aims of the effort to integrate the economies of the 16 member countries of the Economic Community of West African States (ECOWAS) is to expand intra-Community trade. This objective is to be achieved partly through the elimination of quantitive and other restrictions on trade.
Currency Cooperation in East Asia (Financial and Monetary Policy Studies #38)
by Frank Rövekamp Hanns Günther HilpertThis book explores the opportunities and limits of currency cooperation in East Asia. Currency issues play an important role in the region. The Asian crisis of the late 90s was rooted in deficient currency arrangements. The Chinese RMB is not freely convertible yet, but policymakers in China nevertheless aim for a more international role of the Chinese currency. The recent change of direction in Japanese monetary policy caused a drastic depreciation of the Yen and led to warnings against a possible "currency war", thus demonstrating that currency issues can also easily lead to political frictions. Most trade in and with the East Asian zone on the other hand is still conducted in US $. Against this background different modes of currency cooperation serve the goal of smoothing exchange rate fluctuations and capital flows. They are an important element to promote financial stability and to reduce the transaction cost for foreign trade or investment. The contributions of this book analyze the environment and design of currency cooperation in East Asia and their effects from a macro-and microeconomic viewpoint.
Currency, Credit and Crisis: Central Banking in Ireland and Europe (Studies in Macroeconomic History)
by Patrick HonohanThe global financial crisis in 2008 brought central banking to the centre stage, prompting questions about the role of national central banks and - in Europe - of the multi-country European Central Bank. What can central banks do, and what are their limitations? How have they performed? Currency, Credit and Crisis seeks to provide a coherent perspective on the functions of a central bank in a small country by assessing the way in which Ireland's financial crisis from 2010 to 2013 was handled. Drawing on his experiences as Governor of the Central Bank of Ireland and in research and policy work at the World Bank, Patrick Honohan offers a detailed analytical narrative of the origins of the crisis and of policy makers' conduct during its most fraught moments.
Currency Crises
by Brian P. Irwin Robert E. KennedyBriefly describes six historical currency crises. Presents actual data on 11 disguised countries and asks students to consider which is most likely to experience a crisis.
Currency Futures: Currency Risk Management (Glenlake Series in Risk Management)
by Brian CoyleFirst Published in 2001. Routledge is an imprint of Taylor & Francis, an informa company.
Currency Hedging for International Portfolios
by Jochen M. SchmittmannA report from the International Monetary Fund.
Currency Internationalization and Macro Financial Risk Control
by International Monetary InstituteThis book collects expert opinions, research, and risk assessments from within the Chinese financial policy establishment on prospects for the internationalization of the renminbi as a reserve currency around the world. As China's economy diversifies in the acquisition of global assets, the renminbi may partially displace the dollar or yen as a reserve currency, with unpredictable and profound potential consequences. This book, presenting for the first time in English, the Chinese perspective on the internationalization of the Chinese currency will be of great value to central bankers, financiers, and students of international finance.
The Currency of Confidence: How Economic Beliefs Shape the IMF’s Relationship with Its Borrowers (Cornell Studies In Money Ser.)
by Stephen C. NelsonThe IMF is a purposive actor in world politics, primarily driven by a set of homogenous economic ideas, Stephen C. Nelson suggests, and its professional staff emerged from an insular set of American-trained economists. The IMF treats countries differently depending on whether that staff trusts the country's top officials; that trust in turn depends on the educational credentials of the policy team that Fund officials face across the negotiating table. Intellectual differences thus lead to lasting economic effects for the citizens of countries seeking IMF support. Based on deep archival research in IMF archives and personnel files, Nelson argues that the IMF has been the Johnny Appleseed of neoliberalism: neoliberal policymakers sprout and take root in countries that have spent recent decades living under the Fund’s conditional lending arrangements. Nelson supports his argument through quantitative measures and illustrates the dynamics of relations between the Fund and client countries in a detailed examination of newly available archives of four periods in Argentina’s long and often bitter relations with the IMF. The Currency of Confidence ends with Nelson’s examination of how the IMF emerged from the global financial crisis as an unexpected victor. 02 The IMF is a purposive actor in world politics, primarily driven by a set of homogenous economic ideas, Stephen C. Nelson suggests in The Currency of Confidence, and its professional staff emerged from an insular set of American-trained economists
The Currency of Empire: Money and Power in Seventeenth-Century English America
by Jonathan BarthIn The Currency of Empire, Jonathan Barth explores the intersection of money and power in the early years of North American history, and he shows how the control of money informed English imperial action overseas.The export-oriented mercantile economy promoted by the English Crown, Barth argues, directed the plan for colonization, the regulation of colonial commerce, and the politics of empire. The imperial project required an orderly flow of gold and silver, and thus England's colonial regime required stringent monetary regulation. As Barth shows, money was also a flash point for resistance; many colonists acutely resented their subordinate economic station, desiring for their local economies a robust, secure, and uniform money supply. This placed them immediately at odds with the mercantilist laws of the empire and precipitated an imperial crisis in the 1670s, a full century before the Declaration of Independence.The Currency of Empire examines what were a series of explosive political conflicts in the seventeenth century and demonstrates how the struggle over monetary policy prefigured the patriot reaction to the Stamp Act and so-called Intolerable Acts on the eve of American independence.Thanks to generous funding from the Arizona State University and George Mason University, the ebook editions of this book are available as Open Access (OA) volumes from Cornell Open (cornellopen.org) and other Open Access repositories.
The Currency of Justice: Fines and Damages in Consumer Societies
by Pat O'MalleyFines and monetary damages account for the majority of legal sanctions across the whole spectrum of legal governance. Money is, in key respects, the primary tool law has to achieve compliance. Yet money has largely been ignored by social analyses of law, and especially by social theory. The Currency of Justice examines the differing rationalities, aims and assumptions built into money’s deployment in diverse legal fields and sanctions. This raises major questions about the extent to which money appears as an abstract universal or whether it takes on more particular meanings when deployed in various areas of law. Indeed, money may be unique in that it can take on the meanings of punishment, compensation, denunciation or regulation. The Currency of Justice examines the implications of the ‘monetization of justice’ as life is increasingly regulated through this single medium. Money not only links diverse domains of law; it also links legal sanctions to other monetary techniques which govern everyday life. Like these, the concern with monetary sanctions is not who pays, but that money is paid. Money is perhaps the only form of legal sanction where the burden need not be borne by the wrongdoer. In this respect, this book explores the view that contemporary governance is less concerned with disciplining individuals and more concerned with regulating distributions and flows of behaviours and the harms and costs linked with these.
The Currency of Politics: The Political Theory of Money from Aristotle to Keynes
by Stefan EichMoney in the history of political thought, from ancient Greece to the Great Inflation of the 1970sIn the wake of the 2008 financial crisis, critical attention has shifted from the economy to the most fundamental feature of all market economies—money. Yet despite the centrality of political struggles over money, it remains difficult to articulate its democratic possibilities and limits. The Currency of Politics takes readers from ancient Greece to today to provide an intellectual history of money, drawing on the insights of key political philosophers to show how money is not just a medium of exchange but also a central institution of political rule.Money appears to be beyond the reach of democratic politics, but this appearance—like so much about money—is deceptive. Even when the politics of money is impossible to ignore, its proper democratic role can be difficult to discern. Stefan Eich examines six crucial episodes of monetary crisis, recovering the neglected political theories of money in the thought of such figures as Aristotle, John Locke, Johann Gottlieb Fichte, Karl Marx, and John Maynard Keynes. He shows how these layers of crisis have come to define the way we look at money, and argues that informed public debate about money requires a better appreciation of the diverse political struggles over its meaning.Recovering foundational ideas at the intersection of monetary rule and democratic politics, The Currency of Politics explains why only through greater awareness of the historical limits of monetary politics can we begin to articulate more democratic conceptions of money.
Currency Options: Currency Risk Management (Glenlake Series in Risk Management)
by Brian CoyleFirst Published in 2001. Routledge is an imprint of Taylor & Francis, an informa company.
Currency Politics: The Political Economy of Exchange Rate Policy
by Jeffry A. FriedenThe politics surrounding exchange rate policies in the global economyThe exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates.Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil.With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
Currency Power
by Benjamin J. CohenMonetary rivalry is a fact of life in the world economy. Intense competition between international currencies like the US dollar, Europe's euro, and the Chinese yuan is profoundly political, going to the heart of the global balance of power. But what exactly is the relationship between currency and power, and what does it portend for the geopolitical standing of the United States, Europe, and China? Popular opinion holds that the days of the dollar, long the world's dominant currency, are numbered. By contrast, Currency Power argues that the current monetary rivalry still greatly favors America's greenback. Benjamin Cohen shows why neither the euro nor the yuan will supplant the dollar at the top of the global currency hierarchy.Cohen presents an innovative analysis of currency power and emphasizes the importance of separating out the various roles that international money might have. After systematically exploring the links between currency internationalization and state power, Cohen turns to the state of play among today's top currencies. The greenback, he contends, is the "indispensable currency"--the one that the world can't do without. Only the dollar is backed by all the economic and political resources that make a currency powerful. Meanwhile, the euro is severely handicapped by structural defects in the design of its governance mechanisms, and the yuan suffers from various practical limitations in both finance and politics.Contrary to today's growing opinion, Currency Power demonstrates that the dollar will continue to be the leading global currency for some time to come.
Currency Statecraft: Monetary Rivalry and Geopolitical Ambition
by Benjamin J. CohenAt any given time, a limited number of national currencies are used as instruments of international commerce, to settle foreign trade transactions or store value for investors and central banks. How countries whose currencies gain international appeal choose to use this status forms their strategy of currency statecraft. In different circumstances, issuing governments may welcome and promote the internationalization of their currency, tolerate it, or actively oppose it. Benjamin J. Cohen offers a provocative explanation of the strategic policy choices at play. In a comprehensive review that ranges from World War II to the present, Cohen convincingly argues that one goal stands out as the primary motivation for currency statecraft: the extent of a country’s geopolitical ambition, or how driven it is to build or sustain a prominent place in the international community. When a currency becomes internationalized, it generally increases the power of the nation that produces it. In the persistent contestation that characterizes global politics, that extra edge can matter greatly, making monetary rivalry an integral component of geopolitics. Today, the major example of monetary rivalry is the emerging confrontation between the US dollar and the Chinese renminbi. Cohen describes how China has vigorously promoted the international standing of its currency in recent years, even at the risk of exacerbating relations with the United States, and explains how the outcome could play a major role in shaping the broader geopolitical engagement between the two superpowers.