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Macroeconomic Responses to the COVID-19 Pandemic: Policies from Southeast Europe
by Neven Vidaković Ivan LovrinovićThis book examines economic policies utilized within Southeast Europe in response to the COVID-19 pandemic. Covering countries both within and outside the European Union, the human and economic cost of the pandemic is calculated using macroeconomic models from a short and longer term perspective. The economic policies used during the pandemic are analyzed, alongside crisis management approaches, to highlight the effectiveness of monetary policy, fiscal policies and potential future economic solutions for the post COVID-19 period. This book aims to provide policy recommendations based on findings from Southeast Europe. It is relevant to researchers and policymakers involved in economic policy and the political economy, as well as anyone interested in the responses to the COVID-19 pandemic.
Macroeconomic Variables And Security Prices In India During The Liberalized Period
by Tarak Nath SahuThe liberalization of the Indian economy and consequent strengthening of the relationship between the Indian financial system and the rest of the world has made India more vulnerable to macro issues. This book provides a comprehensive analysis of the dynamic relationship between macroeconomic variables and stock prices in India. A wide range of statistical models are used to estimate and interpret the relationships between Indian stock prices and eleven macroeconomic variables during the liberalized period. While the author finds that the Indian stock market is sensitive to changes in macroeconomic fundamentals in the long run, in the short run only a few macroeconomic variables (such as consumer price index, foreign trade, and exchange rate) affect stock prices. The study also observes that the Indian stock market is approaching informational inefficiency in the long run. Research findings and policy implications discussed here provide insight into other emerging economies as well.
Macroeconomics: Macroeconomics And Social Policy In Memory Of William S. Vickrey
by Rubb SumnerCreated specifically for the economics course as taught in business schools, Economic Principles: A Business Perspective covers the fundamentals of economics in the context of today's globalized business world, with strong examples, integrated technology, and practical pedagogy. <P><P>Integrated business and policy briefs, in-depth case studies, chapter-ending business applications, thoroughly explained graphs and a battery of simple but useful learning tools support the intersection of theory and practice. <P><P>It's accompanied by a robust media component, SaplingPlus, which combines Sapling's acclaimed online homework with a complete e-book and all interactive features for the text.
Macroeconomics as Systems Theory: Transcending the Micro-Macro Dichotomy
by Richard E. WagnerThis book examines macroeconomic theory from an analytical framework provided by theories of complex systems, in contrast to conventional theories founded on aggregation. The resulting difference in analytical perspectives is huge: the macro level of society is not pursued through aggregation over micro entities. To the contrary, the micro-macro relation is treated as one of parts-to-whole, and this relation is approached from within an ecological scheme of thought. A society is a complex ecology of plans. That ecology, however, is not reducible to a single plan. Conventional macro theory presents a national economy as a collection of such aggregate variables as output, employment, investment, and a price level, and seeks to develop theoretical relationships among those variables. In contrast, the social-theoretic approach to macro or social theory in this book treats the standard macro variables as having been shaped through social institutions, conventions, and processes that in turn are generated through interaction among economizing persons. The object denoted as macro is thus of a higher order of complexity than the object denoted as micro.
Macroeconomics in Times of Liquidity Crises: Searching for Economic Essentials
by Guillermo A. CalvoSince the subprime mortgage crisis that began in 2007, advanced economies have felt a nagging sense of insecurity. In parallel, the profession has witnessed phenomena that are alien to mainstream macroeconomic models. Financial crises are systemic, occurring simultaneously in different economies. In this book, Guillermo Calvo focuses on liquidity factors as a commonality in financial crises. Specifically, he examines the role of "liquidity crunch" in triggering crises. He also identifies a fundamental (but overlooked) idea in Keynes's General Theory, termed by Calvo the price theory of money, to rationalize the resiliency of the U.S. dollar when other dollar-backed assets suffered a devastating liquidity crunch.Calvo shows that a sharp focus on liquidity reveals some characteristics of liquid assets that are easy to miss otherwise. He argues for liquidity's centrality, presenting what he calls the Liquidity Approach. He shows that simple extensions of standard monetary models help rationalize the implications of the liquidity crunch, and then examines slightly more technical models that highlight liquidity issues. He explores the empirical effects of liquidity crunch by studying systemic sudden stops (of capital inflows), presuming that they are triggered by liquidity crunch-type phenomena.
Macroeconomics in Times of Liquidity Crises: Searching for Economic Essentials (Ohlin Lectures)
by Guillermo A. CalvoAn examination of Liquidity Crunch in triggering and characterizing financial crises.Since the subprime mortgage crisis that began in 2007, advanced economies have felt a nagging sense of insecurity. In parallel, the profession has witnessed phenomena that are alien to mainstream macroeconomic models. Financial crises are systemic, occurring simultaneously in different economies. In this book, Guillermo Calvo focuses on liquidity factors as a commonality in financial crises. Specifically, he examines the role of “liquidity crunch” in triggering crises. He also identifies a fundamental (but overlooked) idea in Keynes's General Theory, termed by Calvo the price theory of money, to rationalize the resiliency of the U.S. dollar when other dollar-backed assets suffered a devastating liquidity crunch.Calvo shows that a sharp focus on liquidity reveals some characteristics of liquid assets that are easy to miss otherwise. He argues for liquidity's centrality, presenting what he calls the Liquidity Approach. He shows that simple extensions of standard monetary models help rationalize the implications of the liquidity crunch, and then examines slightly more technical models that highlight liquidity issues. He explores the empirical effects of liquidity crunch by studying systemic sudden stops (of capital inflows), presuming that they are triggered by liquidity crunch-type phenomena.
The Macroeconomics of Corruption: Governance and Growth (Springer Texts in Business and Economics)
by Maksym Ivanyna Alex Mourmouras Peter RangazasThis textbook examines corruption through a macroeconomic lens, exploring the relationship between corruption, fiscal policy, and political economy. It merges macroeconomic growth models with elements of political economic theory to address important applied topics such as income inequality within and across countries, growth slowdowns, and fiscal crises. Revised and updated to include new research findings and recent policy discussions, the second edition contains 15 new sections and 2 new chapters on topics such as public defaults, the wage elasticity of work and the interest elasticity of saving, and the economic and fiscal impact of the 2020 pandemic. Most of the basic ideas are illustrated using a two-period model of government investment that captures the future cost of policies that favor the present. The more subtle and advanced issues are illustrated and, in some cases, quantified, using the overlapping-generations model of economic growth. The models used to illustrate the mechanisms of economic growth are extended to incorporate politics and the behavior of public official. The text concludes with a thorough discussion of policy reforms designed to address the issues discussed in earlier chapters. Intended for students familiar with intermediate-level economics, the second edition contains a technical appendix, expanded end-of-chapter questions and problems, and a complete solutions manual. The second edition also offers updated resources for instructors, including sample syllabi and over 550 multiple choice questions. Offering a unified explanation for the causes and consequences of government failure, fiscal crisis, and needed policy reforms, this text is appropriate for advanced undergraduate and beginning graduate courses in macroeconomics, political economy, and public policy.
The Macroeconomics of Medium-Term Aid Scaling-Up Scenarios
by Andrew Berg Jan Gottschalk Rafael Portillo Luis-Felipe ZannaA report from the International Monetary Fund.
The Macroeconomics of Scaling Up Aid: The Gleneagles Initiative for Benin
by Joannes Mongardini Issouf SamakeA report from the International Monetary Fund.
The Macroeconomics of Scaling Up Aid Lessons from Recent Experience
by Andrew Berg Shekhar Aiyar Mumtaz Hussain Shaun Roache Tokhir Mirzoev Amber MahoneThis study analyzes key issues associated with large increases in aid, including absorptive capacity, Dutch disease, and inflation. The authors develop a framework that emphasizes the different roles of monetary and fiscal policy and apply it to the recent experience of five countries: Ethiopia, Ghana, Mozambique, Tanzania, and Uganda. These countries have often found it difficult to coordinate monetary and fiscal policy in the face of conflicting objectives, notably to spend the aid money on domestic goods and to avoid excessive exchange rate appreciation.
Macroeconomics, Trade, and Social Welfare
by Michihiro OhyamaThis book develops new, original methods of welfare comparison and comparative dynamics between distinct and discretely positioned (rather than continuously related) socioeconomic situations. These methods are not only realistic but also extremely relevant to serious economic problems. Using them, the book sheds illuminating new light on the theoretical analysis of Keynesian economics and other important issues of political economy. For instance, it shows that the principle of effective demand applies exactly as Keynes put it to the unemployment equilibrium in the short run. It also shows that the equilibrium may change along the expansion path as the government chooses to vary its expenditure to maximize national welfare. The same methods are effectively employed theoretically to investigate modern trade policy issues such as gains from trade, the theory of tariffs, free trade agreements, and the role of the WTO. Those methods are also used to study the welfare and efficiency of various socioeconomic situations.
The Macroeconomy of Central America
by Robert Rennhack Erik OfferdalOpportunities for growth and investment in Central America could well improve in the coming years, as the region's ties with the world economy grow closer. This integration, however, also presents important challenges for economic policy to ensure that growth can be sustained and can benefit the poor. This book stresses the importance of keeping fiscal policy on a sustainable path, strengthening public investment in basic infrastructure and primary health care and primary and secondary education, and managing the risks associated with partial dollarization.
The Macron Régime: The Ideology of the New Right in France
by Charles DevellennesWhen Emmanuel Macron was elected President of the French Republic, it ended the long-standing political alternation between the mainstream right- and left-wing parties. This book examines Macron’s political career from his rise as a public figure to his time as a president. The book explores Macron’s political ideology and examines the enactment of the key notions of security, merit and hope during his time in office. By offering a close study of his actions and ideological commitment, this book argues that, despite claims of being ideologically neutral, Macron actually represents a new form of right-wing politics in France.
Macropolitics: Essays on the Philosophy and Science of Politics
by Friedrich MeineckeA selection of essays by a pioneer in the application of systems theory to political analysis, Macropolitics develops the author's concern with the philosophical foundations of political science, and with the extension of philosophical principles into the realm of empirical analysis. For this volume, Kaplan has written a long essay on the philosophical foundations of his work, which constitutes one of his most important statements. He develops and explains within a philosophical context his contention that values can be treated in an empirically meaningful fashion. Organized to expand or illustrate the major points raised in this introduction, the essays that follow deal with such topics as the nature and utility of systems theory, empirical treatment of historical explanations, the systemic and psychological foundations of values, and empirical applications of systems theory in analyzing international political systems. Enlarging the dialogue between conflicting viewpoints, Kaplan exposes the common roots of Western scientific thought and Marxist philosophy, emphasizing that both status quo and revolutionary philosophies are one-sided. In his new introduction, Ira Sharkansky sees this as a truly groundbreaking work: "thanks in considerable part to the contributions of Professor Kaplan, international relations theory is a major component of political sciencei?1/2a milestone on our quest for understanding i?1/2 a distinguished part of the ongoing record." When the book first appeared, William Welch in the American Political Science Review called it "excellent: his weighing against the evidence of competing hypotheses is truly exemplary i?1/2 thorough, careful, fair-minded."
The Macropolitics of Congress
by E. Scott Adler and John S. LapinskiHow do public laws, treaties, Senate confirmations, and other legislative achievements help us to gain insight into how our governmental system performs? This well-argued book edited by Scott Adler and John Lapinski is the first to assess our political institutions by looking at what the authors refer to as legislative accomplishment. The book moves beyond current research on Congress that focuses primarily on rules, internal structure, and the microbehavior of individual lawmakers, to look at the mechanisms that govern how policy is enacted and implemented in the United States. It includes essays on topics ranging from those dealing with the microfoundations of congressional output, to large N empirical analyses that assess current theories of lawmaking, to policy-centered case studies. All of the chapters take a Congress-centered perspective on macropolicy while still appreciating the importance of other branches of government in explaining policy accomplishment. The Macropolitics of Congress shines light on promising pathways for the exploration of such key issues as the nature of political representation. It will make a significant contribution to the study of Congress and, more generally, to our understanding of American politics. Contributors include E. Scott Adler, David Brady, Charles M. Cameron, Brandice Canes-Wrone, Robert S. Erikson, Grace R. Freedman, Valerie Heitshusen, John D. Huber, Ira Katznelson, Keith Krehbiel, John S. Lapinski, David Leblang, Michael B. MacKuen, David R. Mayhew, Nolan McCarty, Charles R. Shipan, James A. Stimson, and Garry Young.
MacTrump: A Shakespearean Tragicomedy of the Trump Administration, Part I
by Ian Doescher Jacopo della QuerciaFor readers craving a humorous antidote to the sound and the fury of American politics, this clever satire, written in iambic pentameter in the style of Shakespeare, wittily fictionalizes the events of the first two years of the Trump administration.No one thought that MacTrump—Lord of MacTrump Towers, Son of New York—would ascend to the highest position in the kingdom. Yet with the help of his unhappy but dutiful wife Lady MacTrump, his clever daughter Dame Desdivanka, and his coterie of advisers, MacTrump is comfortably ensconced in the White Hold as President of the United Fiefdoms, free to make proclamations to his subjects through his favorite messenger, McTweet.The Democrati, mourning the loss of their cherished leader O’Bama, won’t give up without a fight. They still remember the disastrous reign of George the Lesser, and they can see Putain’s dark influence on MacTrump. Their greatest hope is MacMueller, tasked with investigating the plot that empowered MacTrump’s rise to the throne.As Desdivanka schemes to overthrow her father’s councilors, and as Donnison and Ericson—trapped in their own Rosencrantz and Guildenstern-like storyline—prove useless to their father, MacTrump soon realizes he has no true allies. Will he be able to hold on to his throne? Only time will tell in this tragicomic tale of ambition, greed, and royal ineptitude.
Mad As Hell: Revolt at the Ballot Box
by Jack W. Germond Jules WitcoverAnalysis of the 1992 Presidential Election Campaign.
Mad As Hell: How the Tea Party Movement Is Fundamentally Remaking Our Two-Party System
by Scott Rasmussen Doug SchoenToday’s raucous revolt against Washington and Wall Street is a classic populist uprising. In Mad as Hell, political pollsters Scott Rasmussen and Doug Schoen discuss how the Tea Party movement is fundamentally remaking our two-party system and what it means for the future of American politics. For political junkies of every stripe—from both the left and the right side of the aisle—Mad as Hell is mandatory reading.
Mad, Bad and Dangerous: The Eccentricity of Tyrants
by Tom AmbroseA penetrating and incisive study of the fanaticism and foibles of some of history's most illustrious namesFrom Assad to Nero, Gaddafi to Ivan The Terrible, this work attempts a thorough illumination of the minds of some of the most powerful people in history. While leaving some room to describe the amusing incidents and eccentricities associated with a host of men and women of power, it also reaches into the terrifying depths and depravities of minds that shaped the destinies of peoples and nations. Using a unique combination of history, politics, and psychology, this book fully describes how power not only corrupts but deranges.
Mad Dog: The Rise and Fall of Johnny Adair and 'C Company'
by David Lister Hugh JordanA mindless sectarian psychopath or a loyalist folk hero who took the war to the IRA's front door? The name Johnny 'Mad Dog' Adair is synonymous with a killing spree by loyalist terrorists that took Northern Ireland to the brink of civil war.From humble beginnings as a rioter and glue-sniffer on Belfast's Shankill Road, Adair rose through the ranks of the outlawed Ulster Freedom Fighters to head its merciless killing machine, 'C Company'. Surrounded by a group of trusted friends, his reign of terror in the early 1990s claimed the lives of up to 40 Catholics, picked out at random as Adair's hitmen roamed Belfast. Determined to lead from the front, his men even fired a rocket at Sinn Fein's headquarters, writing themselves into loyalist mythology and embarrassing the IRA in its republican heartland. Its desperate attempts to kill Adair culminated in October 1993, when a bomb on the Shankill Road, intended for the loyalist godfather, claimed the lives of nine Protestant civilians. Mad Dog: The Rise and Fall of Johnny Adair and 'C Company' describes in graphic detail Adair's criminal empire and an egomaniac's bloody war against Catholics and anybody else who got in his way. Adair's friends and enemies talk for the first time about the murders he ordered, his sordid personal life, and his attempts - ultimately disastrous - to become Northern Ireland's supreme loyalist figurehead.
Mad Kings & Queens: History's Most Famous Raving Royals
by Alison Rattle Allison ValeA frank and fascinating history of forty of Europe’s most loony, deluded, and downright dangerous monarchs.In Mad Kings & Queens co-authors Alison Rattle and Allison Vale reveal a legion of kings and queens who have abused the pedestal of power in spectacular style. The respectability of the royal position is well and truly tossed aside by the whimsy and wanton depravity of these mad European monarchs, including:The queen who murdered her husband with a red-hot spit.The bloodthirsty monarch who impaled tens of thousands of his subjects.The vampiric ruler who bathed in the blood of young women.The king of excess who beheaded his wives.Mad Kings and Queens explores seven hundred years of royal eccentricity, detailing a catalogue of madness and exploring the finer intricacies of royal breeding that lay at its root.
Mad Politics
by Gina LoudonIf the definition of insanity is doing the same thing over and over and expecting a different result, America has been insane for decades. We've elected establishment politicians on both sides of the aisle; we've hoped for change; and we've been disappointed. But with the election of Donald Trump, America tried something new. So we have to ask ourselves: what if Trump isn't the crazy man that the media pretends he is? What if he's actually the cure for a country who's been going mad for years? In Mad Politics, Fox News commentator, radio host, and psychological analyst Dr. Gina Loudon diagnoses the problem with America's status quo politics. Loudon has unique insight into both the Trump campaign and the larger political landscape as a member of the president's 2020 media advisory board, a former surrogate for his campaign, the wife of a former Senator from Missouri, the co-host of a national Television show, a seasoned psychological analyst on FOX News, CNN and others, and a twice pedigreed Master and Ph.D. With authority and wit, Mad Politics exposes cultural patterns that have led to today's political narcissism. She scans the psychological literature and illuminates a formula to answer the question: How can we restore a sound mind to the body politic? The answer, Loudon concludes, may be in joining Trump in a complete rejection of political correctness.
Mad River, Marjorie Rowland, and the Quest for LGBTQ Teachers’ Rights (New Directions in the History of Education)
by Margaret A. Nash Karen L. GravesMad River, Marjorie Rowland, and the Quest for LGBTQ Teachers’ Rights addresses an important legal case that set the stage for today’s LGBTQ civil rights–a case that almost no one has heard of. Marjorie Rowland v. Mad River School District involves an Ohio guidance counselor fired in 1974 for being bisexual. Rowland’s case made it to the U.S. Supreme Court, but the justices declined to consider it. In a spectacular published dissent, Justice Brennan laid out arguments for why the First and Fourteenth Amendments apply to bisexuals, gays, and lesbians. That dissent has been the foundation for LGBTQ civil rights advances since. In the first in-depth treatment of this foundational legal case, authors Margaret A. Nash and Karen L. Graves tell the story of that case and of Marjorie Rowland, the pioneer who fought for employment rights for LGBTQ educators and who paid a heavy price for that fight. It brings the story of LGBTQ educators’ rights to the present, including commentary on Bostock v Clayton County, the 2020 Supreme Court case that struck down employment discrimination against LGBT workers.
Mad with Freedom: The Political Economy of Blackness, Insanity, and Civil Rights in the U.S. South, 1840–1940
by Élodie Edwards-GrossiThe use of race in studies of insanity in the 1840s and 1850s gave rise to politically charged theories on the differential biology and pathologies of brains in whites and Blacks. In Mad with Freedom, Élodie Edwards-Grossi explores the largely unknown social history of these racialized theories on insanity in the segregated South. She unites an institutional history of psychiatric spaces in the South that housed Black patients with an intellectual history of early psychiatric theories that defined the Black body as a locus for specific pathologies. Edwards-Grossi also reveals the subtle, localized techniques of resistance later employed by Black patients to confront medical power. Her work shows the continuous politicization of science and theories on insanity in the context of Reconstruction and the Jim Crow South.
Madagascar: Conflicts Of Authority In The Great Island (G - Reference, Information And Interdisciplinary Subjects Ser. #No. 98)
by Philip M. AllenThe world's fourth largest island, with a unique biological and physical endowment, Madagascar is home to an extraordinary insular civilization that has struggled for more than a century against external domination. In this sensitive introduction to the Indian Ocean's "great island," Philip Allen shows how family affinities and community loyalties at the foundation of Madagascar's culture have influenced Malagasy nationalism and forged islandwide traditions. These same principles have nonetheless engendered social cleavages and resistance to economic and political change. In chapters on modern Madagascar, Allen analyzes the inability of a series of regimes to maintain authority among a people deeply bound to rituals of communication with their spiritual environment. He demonstrates how the first Malagasy Republic became stigmatized by its lingering identification with French colonialism and how the nationalist revolution in 1972 soon hardened into autocratic radicalism. Allen explores the complex challenges facing Madagascar's resurgent democratic forces–including a need to conserve the island's irreplaceable biodiversity and to facilitate authentic participation in public affairs without offending ancestral customs and local precedents. Finally, he discusses efforts to end Madagascar's economic and political dependence and to improve living conditions for its tragically impoverished population.