Hedge funds have become important players in the U.S. & global capital markets. These largely unregulated funds use: a variety of complex trading strategies & instruments, in their liberal use of leverage, in their opacity to outsiders, & in their convex compensation structure. These differences can exacerbate market failures associated with agency problems, externalities, & moral hazard. Counterparty credit risk mgmt. (CCRM) practices are the first line of defense against market disruptions with potential systemic consequences. This article examines how the unique nature of hedge funds may generate market failures that make CCRM for exposures to the funds intrinsically more difficult to manage, both for regulated institutions & for policymakers. Ill.
The simple message of Eatwell & Milgate's Fall and Rise of Keynesian Economics is that it was inevitable that Keynesian economics would rise again when circumstances conspired to make it apparent that conventional macroeconomic thinking had lost its way and was unable to explain satisfactorily the most outstanding feature of our actual experience: financial instabilty and its effect on real economic activity.
Twenty-nine practitioners combine their expertise to bring clarity to an issue that is at the forefront of discussion-home health care. The field is emerging and is growing faster than most professionals and their patients can keep up with. Here is a text in which the authors make every effort to provide readers with the latest thinking and technology that can better the home health care field. Spiralling costs have forced all aspects of illnesses to be closely scrutinized for possible home care applications and financial savings. The industry is growing rapidly, fueled by increasing service and constant technological breakthroughs, but the overriding philosophy must be focused on cost containment with maintenance of high quality care. This book is directed at providing highly practical, up-to-date information that health care professionals can use in their daily practices.
Managing Credit Risk, Second Edition opens with a detailed discussion of today’s global credit markets—touching on everything from the emergence of hedge funds as major players to the growing influence of rating agencies. After gaining a firm understanding of these issues, you’ll be introduced to some of the most effective credit risk management tools, techniques, and vehicles currently available. If you need to keep up with the constant changes in the world of credit risk management, this book will show you how.
This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1955.
Capitalism has lost its glamor. In just three decades since it "defeated" a totalitarian Soviet Union, capitalism is today blamed for slowing growth, a dangerously changing climate, inequality, social misery, and a rise in nationalist populism. How did capitalism fall so far from grace? Capitalism for All show how, quite simply, the governments of the world’s wealthiest countries have forgotten capitalism’s initial purpose. It was born out of a liberal philosophy that values the competition of ideas and goods in the service of social progress while respecting the individual and preventing excessive power. Yet, with the aid of governments, giant corporations, or "MegaCorps," have usurped power, dominated markets, and reduced competition. The result is not liberal capitalism but what Neil E. Harrison and John Mikler term "CorpoCapitalism," which results in an unhappy populace seeking radical political change while challenges like climate change continue to race forward largely unchecked. Capitalism for All explores how CorpoCapitalism came to be, argues that it is not inevitable, and explains how governments can wrest back power and create a capitalism for all.
Now more streamlined and focused than ever before, the 6th edition of CT and MRI of the Whole Body is a definitive reference that provides you with an enhanced understanding of advances in CT and MR imaging, delivered by a new team of international associate editors. Perfect for radiologists who need a comprehensive reference while working on difficult cases, it presents a complete yet concise overview of imaging applications, findings, and interpretation in every anatomic area. The new edition of this classic reference — released in its 40th year in print — is a must-have resource, now brought fully up to date for today’s radiology practice. Includes both MR and CT imaging applications, allowing you to view correlated images for all areas of the body. Coverage of interventional procedures helps you apply image-guided techniques. Includes clinical manifestations of each disease with cancer staging integrated throughout. Over 5,200 high quality CT, MR, and hybrid technology images in one definitive reference. For the radiologist who needs information on the latest cutting-edge techniques in rapidly changing imaging technologies, such as CT, MRI, and PET/CT, and for the resident who needs a comprehensive resource that gives a broad overview of CT and MRI capabilities. Brand-new team of new international associate editors provides a unique global perspective on the use of CT and MRI across the world. Completely revised in a new, more succinct presentation without redundancies for faster access to critical content. Vastly expanded section on new MRI and CT technology keeps you current with continuously evolving innovations.
The stability of the financial system and the potential for systemic events to alter its function have long been critical issues for central bankers and researchers. Recent events suggest that older models of systemic shocks might no longer capture all of the possible paths of such disturbances or account for the increasing complexity of the financial system. To help assess these concerns, the Federal Reserve Bank of New York and the NRC cosponsored a conference that brought together engineers, scientists, economists, and financial market experts to promote better understanding of systemic risk in a variety of fields. The book presents an examination of tools used in ecology and engineering to study systemic collapse in those areas; a review of current trends in economic research on systemic risk, the payments system, and the market of interbank funds; and for context, descriptions of how systemic risk in the financial system affects trading activities.
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