Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.
Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.
Nathan Soderblom (1866-1931), was not only a profoundly influential figure in Swedish church history, but also one of the great pioneers of the modern ecumenical movement. Elected Archbishop of Uppsala, the head of the Lutheran church in Sweden, in 1914, he was a ceaseless advocate for peace during the first world war. His collaboration with George Bell laid the foundations for intercommunion between the Church of Sweden and the Church of England. Finally, in the year before he died, he was awarded the Nobel Peace Prize. Despite this, until this landmark biography he was largely neglected by historians, the subject of only a few partial studies. In Nathan Soderblom: His Life and Work, Bengt Sundkler corrects this, with new analysis of Soderblom's meticulously preserved correspondence and interviews with his family, friends and former students. The resulting image is of a man deeply committed to his leadership of ecumenical projects, most significantly his movement of 'Life and Work', btu also of a complex and fascinating personality.
In this book the emergence of schools in urban Sweden between the seventeenth and the nineteenth century provides the framework for a history of children and of childhood. It is a study through the lens of the changes in early modern education, spatial aspect of the life of children and systems of governance in the early modern Swedish state. Educational systems defined the spatial aspects of childhood—where children were supposed to grow up, in the home, the school, the streets and alleys, or the place of work—over a period of about two hundred years. Schools and education represent both a mental and a physical space; an abstract place for children as well as a local and concrete place for them, which stood out against the alternative spatial aspects of the life of children. It is also a study of how different cultural systems influence the definitions of childhood and schools, in the context of church and home instruction, poor relief, policing, surveillance, and the question of why children went to schools. It examines the role of the school as childcare and as a provider of food, shelter and welfare, and as governance.
This book is a collection of essays by Swedish and American academics begins by putting into its historical perspective the classic definition of Swedish foreign policy as freedom from alliance in peace, aiming for neutrality in war and it helps to gain new insights on the Sweden's foreign policy.
The Ethiopian Evangelical Lutheran Church (EELC) was formed in 1960 as a fruit of the mission work of Swedish Mission Bibeltrogna Vänner (SMBV), founded in 1911, its roots dating back to the evangelical revival that swept across Sweden in the 19th century. The main goal of the society was to reach the Oromo people in Ethiopia with the Gospel. In 1911 mission work began in Eritrea and in 1921 the first SMBV missionaries reached Addis Ababa, from where work was expanded into the cities of Harar and Dire-Dawa as well as into the Arsi province. When EELC was founded, members were few, estimated to around 500. Since then the church has grown and today has a membership of about 25,000. This book covers the first part of EELC:s history, describing the development from 1921 to 1935, ultimately leading up to the establishment of the church in 1960. As a background the development leading to the establishment of SMBV and the mission work of SMBV in Eritrea are described
One of the most influential Swedish theologians of the twentieth century, Gustaf Wingren's career spanned more than forty years of upheaval both in his field and around the globe. Provocative and challenging, Wingren revelled in a good argument and this attitude set the tone for much of his scholarship. A Swedish Lutheran, he made his name through his research into the theology of Martin Luther, breaking away from both traditional interpretations of Luther and the theology of his famous teachers, Karl Barth and Anders Nygren, before shifting his focus onto systematic theology. In a fresh take, Bengt Kristensson Uggla delves into the influence of Wingren's second wife, Greta Hofsten, on the direction of his theology. Hofsten, a left-wing political activist who was searching for a new language of faith, wove Wingren's work together with her own political philosophy to create an unusual kind of Christian socialism. Her thinking had a profound effect on Wingren, causing him to recontextualise his older work entirely. In Becoming Human Again, Uggla examines how Wingren's combative nature often served him well as a theologian, driving him to engage with innovations in the field and re-examine his older views.
Structure and Function of Glutathione S-Transferases provides some of the latest information available on a variety of structural and functional components of glutathione S-transferases, a family of isozymes involved in many endogenous and exogenous functions in cells. Molecular studies presented in the book focus on the regulation of these enzymes and identify important response elements. X-ray crystallographic structures show detailed information on the structural aspects of these proteins. Metabolism of a number of carcinogens and drugs is covered in detail, and the role that these enzymes play in governing drug resistance at the preclinical and clinical levels is discussed. The book will be excellent for biochemists, pharmacologists, oncologists, experimental therapeutic specialists, and others interested in glutathione S-transferases.
The story of Raoul Wallenberg - the Swedish businessman who, at immense personal risk, rescued many of Budapest's Jews from the Holocaust and subsequently disappeared into the Soviet prison system - is one of the most fascinating episodes of World War II. Yet the complete story of his life and fate can only be told now - and for the first time in this book - following access to the Russian and Swedish archival sources, previously not used. Born into a wealthy Swedish family, Wallenberg was a moderately successful businessman when he was recruited by the War Refugee Board to manage the rescue mission of thousands of Hungarian Jews. Once in Budapest, he created and distributed so called 'protective passports' (or Schutz-Pass) among the Jewish population, thus managing to save up to 8,000 people. Through the 'safe houses' and clandestine networks that he established around the city, many thousands more were saved from the concentration camps. Yet, when Budapest was liberated by the Red Army in January 1945, Wallenberg was arrested and taken to Moscow. One of the reasons for his arrest was that the Soviets could not understand the nature of his mission: formally he was a Swedish diplomat but he worked for an American agency. On the basis of previously unseen Soviet sources, Jangfeldt has been able to reconstruct the events surrounding Wallenberg's arrest almost hour by hour and, for the first time, he presents a highly plausible theory about the reasons why Wallenberg was arrested and what happened to him after he disappeared. With access to previously unpublished material, Bengt Jangfeldt provides the first complete account of Wallenberg's life - from his childhood in Sweden to his disappearance in a Russian jail - and sheds important new light on one of the greatest heroes of World War II. This is a thrilling tale of intrigue, espionage and heroism which will captivate all readers of modern European history.
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