The potential failure of a large bank presents vexing questions for policymakers. It poses significant risks to other financial institutions, to the financial system as a whole, and possibly to the economic and social order. Because of such fears, policymakers in many countries—developed and less developed, democratic and autocratic—respond by protecting bank creditors from all or some of the losses they otherwise would face. Failing banks are labeled "too big to fail" (or TBTF). This important new book examines the issues surrounding TBTF, explaining why it is a problem and discussing ways of dealing with it more effectively. Gary Stern and Ron Feldman, officers with the Federal Reserve, warn that not enough has been done to reduce creditors' expectations of TBTF protection. Many of the existing pledges and policies meant to convince creditors that they will bear market losses when large banks fail are not credible, resulting in significant net costs to the economy. The authors recommend that policymakers enact a series of reforms to reduce expectations of bailouts when large banks fail.
Explains why the government¿s response to the 2007-08 financial turmoil, although justified, expanded the safety net and exacerbated the too big to fail (TBTF) problem. A larger TBTF problem is costly, having the capability to sow the seeds of future financial crises. Therefore, we should begin now to develop a new approach to manage TBTF. Their recommendations to address TBTF would effectively address the safety net expansion and position policymakers to respond more effectively to ¿the next Bear Stearns.¿ They explain their recommendations in terms of their relevance in today¿s environment. Concludes with excerpts from their 2004 book, ¿Too Big To Fail: The Hazards of Bank Buyout,¿ which summarize their arguments in more detail.
In the wake of the Great Recession of 2008–09, economists feared that protectionist policies might sweep the world economy, echoing the wave of tariff escalations during the Great Depression of the 1930s. To some surprise, officials were more restrained and largely avoided traditional forms of protection (tariffs and quotas), leading some observers to underestimate the incidence of new protectionism. In fact, policymakers increasingly turned to more opaque behind-the-border nontariff barriers (NTBs). Using a combination of statistical analysis and case studies, the authors show that local content requirements (LCRs), a form of NTB, have become increasingly popular. How much was global trade actually reduced on account of LCRs? A conservative estimate might be $93 billion. Case studies featured cover the healthcare sector in Brazil, wind turbines in Canada, the automobile industry in China, solar cells and modules in India, oil and gas in Nigeria, and “Buy American” restrictions on government procurement in the United States.
The fourth edition of Clinical Nuclear Medicine highlights the continued growth in clinical applications for PET and other aspects of molecular imaging. With its problem-oriented clinical approach, the book presents relevant topics of current importance to the practicing clinician rather than providing a comprehensive review of all technical and basic science aspects. An initial section covers the broad principles and scope of important areas that are considered to have impacted more significantly on current and future clinical practice since the last edition. The second section covers all the clinical systems where nuclear medicine helps current clinical practice, while a third section covers a number of relevant technical topics.
This manual examines 900 nonpublic US enterprises, including large industrial and service corporations like Milliken & Company and PricewaterhouseCoopers; hospitals and health-care organizations such as Blue Cross; charitable and membership organizations, including the Ford Foundation; mutual and co-operative organizations such as IGA; joint ventures such as Motiva; government-owned corporations such as the United States Postal Service; and major university systems, including The University of Texas System.
In 2006, a team led by the English economist Sir Nicholas Stern issued a striking report that analyzed the economic dimensions of global climate change and called for immediate collective action to reduce greenhouse gas (GHG) emissions. This seminal report poses the critical question of how much emissions should be reduced within specific timeframes. To answer the challenge of finding a best-practices approach, Global Warming and the World Trading System looks at the economic aspects of GHG emissions and seeks a policy method to reduce them without adversely affecting global trade. The book begins with a survey of relevant data—such as emissions reports per sector—and evaluates current US climate policy options, focusing on the intricacies of specific Congressional bills. In this vein, this study examines whether the competitiveness provisions now under consideration are compatible with the rules of the World Trade Organization (WTO) and explores the pragmatic opportunities the WTO should capitalize on in order to accomplish two goals simultaneously: ensure "policy space" for countries to limit national GHG emissions without sacrificing the competitive position of their own industries and preserve an open trading system relatively free of discrimination and opportunistic protectionist measures. Should governments use trade measures to encourage other countries to cooperate in the adoption of environmental policies? The authors anticipate the potential negative environmental and economic outcomes as well as the disputes over violation of GATT articles. This book addresses how to avoid serious setbacks in an effort to reduce emissions without compromising the status of both domestic and international carbon-intensive industries. Most importantly, the book considers what can be done by environmental organizations to head off conflict with the WTO.
Am I sure of going to heaven?" This is the most important question that anyone could ever ask. The only thing that ultimately matters is whether we are ready for heaven. We need assurance of our salvation. Gary Johnson has prepared a simple workbook depicting the process of salvation centered around four main steps: repentance, trusting, obedience, and perseverance. The book is based entirely on scripture, all of which is provided for your easy reference. Read the verses in each section, pray over them, and answer the series of questions based on the truth God has revealed to you. You may then compare your answers to the suggested answers provided in the text. The two sections titled "God's Part in Salvation" and "Man's Part in Salvation" will bring special illumination to your spiritual understanding. See how God plays an interactive part with man in bringing about our eternal deliverance. Am I Really Saved? is an ideal study tool for individuals, group settings, and church-sponsored Bible studies.
These sculptures reflect the Blisses' wide-ranging tastes and extraordinary connoisseurship. About a quarter are Greco-Roman; nearly two-thirds of the rest are Late Antique, mostly limestone carvings from Early Byzantine Egypt. Sculpture from the Middle Byzantine period is very rare, making the four pieces in this collection especially significant.
Most of the world's people live in "developing" economies, as do most of the world's poor. The predominant means of economic development is economic growth. In this book Gary Fields asks to what extent and in what circumstances economic growth improves the material standard of living of a country's people. Most development economists agree that economic growth raises the incomes of people in all parts of the income distribution and lowers the poverty rate. At the same time, some groups lose out because of changes accompanying economic growth. Fields examines these beliefs, asking what variables should be measured to determine whether progress is being made and what policies and circumstances cause some countries to do better than others. He also shows how the same data can be interpreted to reach different, even conflicting, conclusions. Using both theoretical and empirical approaches, Fields defines and examines inequality, poverty, income mobility, and economic well-being. Finally, he considers various policies for broad-based growth. Copublished with the Russell Sage Foundation.
Economic sanctions continue to play an important role in the response to terrorism, nuclear proliferation, military conflicts, and other foreign policy crises. But poor design and implementation of sanctions policies often mean that they fall short of their desired effects. This landmark study, first published in 1985, delves into the rich experience of sanctions in the 20th century to harvest lessons on how to use sanctions more effectively. This volume is the updated third edition of this widely cited study. It chronicles and examines 170 cases of economic sanctions imposed since World War I. Fifty of these cases were launched in the 1990s and are new to this edition. Special attention is paid to new developments arising from the end of the Cold War and increasing globalization of the world economy. Analyzing a range of economic and political factors that can influence the success of a sanctions episode, the authors distill a set of commandments to guide policymakers in the effective use of sanctions.
The NIV Application Commentary helps you communicate and apply biblical text effectively in today’' context. To bring the ancient messages of the Bible into today's world, each passage is treated in three sections: Original Meaning. Concise exegesis to help readers understand the original meaning of the biblical text in its historical, literary, and cultural context. Bridging Contexts. A bridge between the world of the Bible and the world of today, built by discerning what is timeless in the timely pages of the Bible. Contemporary Significance. This section identifies comparable situations to those faced in the Bible and explores relevant application of the biblical messages. The author alerts the readers of problems they may encounter when seeking to apply the passage and helps them think through the issues involved. This unique, award-winning commentary is the ideal resource for today's preachers, teachers, and serious students of the Bible, giving them the tools, ideas, and insights they need to communicate God's Word with the same powerful impact it had when it was first written.
Indonesia is the largest Muslim country in the world. Would a free trade agreement (FTA) with the country be beneficial both economically and politically to the United States? What kind of benefit could Indonesia expect? This book presents a case for improved trade relations between Indonesia and the United States and recommends advancing exploratory talks toward a US-Indonesia FTA. The authors present a detailed study of the stakes involved in the various areas of the proposed negotiation and estimate the FTA's potential for trade creation, trade diversion, and welfare under different scenarios.
It is not in the US interest to adopt tax and regulatory policies that would discourage global engagement by US multinational corporations (MNCs). Research presented in this book shows that the expansion of foreign affiliates of US MNCs is positively associated with more production, greater employment, higher exports, and more research and development (R&D) in the United States. These findings suggest that less investment abroad by US firms would weaken—not strengthen—the US economy. This analysis by no means implies that there are only winners and no losers from outward investment. Changing patterns of MNC investment, like changing patterns of technology and production more generally, contribute to job losses and dislocations for some workers and to new opportunities for others. To benefit the US economy and US workers most broadly, the United States will want to search for ways to strengthen the appeal of the United States as a base for the operations of international firms. High among the recommendations to accomplish this, the United States should adopt a territorial tax system, like the great majority of developed countries.
Bayesian Econometric Methods examines principles of Bayesian inference by posing a series of theoretical and applied questions and providing detailed solutions to those questions. This second edition adds extensive coverage of models popular in finance and macroeconomics, including state space and unobserved components models, stochastic volatility models, ARCH, GARCH, and vector autoregressive models. The authors have also added many new exercises related to Gibbs sampling and Markov Chain Monte Carlo (MCMC) methods. The text includes regression-based and hierarchical specifications, models based upon latent variable representations, and mixture and time series specifications. MCMC methods are discussed and illustrated in detail - from introductory applications to those at the current research frontier - and MATLAB® computer programs are provided on the website accompanying the text. Suitable for graduate study in economics, the text should also be of interest to students studying statistics, finance, marketing, and agricultural economics.
This Policy Analysis previews the case for more decisive US economic engagement of Pakistan and suggests that a US-Pakistan FTA could reinforce existing reforms and push the envelope in economic areas where Pakistan (and South Asia more generally) have lagged. In keeping with the Institute's extensive research agenda on prospective US FTAs, we present a detailed analysis of the costs and benefits of a US-Pakistan FTA for the signatory countries, for regional integration, and for the world trading system."--Preface.
The Doha Round marked its eighth birthday in November 2009, making it the longest running multilateral trade negotiation in the postwar era. Doha participants continue to disagree about prospective liberalization of agriculture and manufactures and have barely begun to consider reductions in barriers to trade in services. Negotiators have missed every deadline to conclude the talks, leading some to question the viability of the entire venture. After nearly nine years of inconclusive meetings, the trade talks are at a tipping point: A global trade deal is still possible with renewed political commitment to trade reform, but continued drift could result in the first outright failure of a multilateral trade round in the postwar era. This policy analysis shows that the Doha Round can still be successfully concluded with a concerted push by the major trading nations. Contrary to the Doha doomsayers, the potential gains from proposals now on the table are significant, albeit not sufficient to close a deal. The authors estimate the trade gains and GDP gains from a prospective Doha deal that "tops up" existing commitments to liberalize agriculture, manufactures, and services. They also suggest what each of the major trading nations needs to do to ensure the successful completion of a Doha package that is both ambitious and balanced between the interests of developed and developing countries.
With the decline of traditional Sunday school and education programs in recent years, many Christians have not learned the fundamental doctrinal content of the faith. In this text Gary Parrett and Steve Kang set forth a thoroughly biblical vision for intentional teaching of the Christian faith that attends to both the content and process of educational and formational ministries.
This will help us customize your experience to showcase the most relevant content to your age group
Please select from below
Login
Not registered?
Sign up
Already registered?
Success – Your message will goes here
We'd love to hear from you!
Thank you for visiting our website. Would you like to provide feedback on how we could improve your experience?
This site does not use any third party cookies with one exception — it uses cookies from Google to deliver its services and to analyze traffic.Learn More.