Seminar paper from the year 2010 in the subject Economics - Monetary theory and policy, grade: 1,0, University of Mannheim, course: Wirtschaftspolitik, language: English, abstract: Financial regulation has played an unfavorable role in the financial crisis. Many reform proposals conclude from its failure that there is a need for more and tougher rules (Group G30 2009).Consolidating existing regulatory bodies and a centralization of authorities seem to be the ubiquitous answer of many politicians. In the European Union (EU), a reform proposal has gained support by the European parliament (EP) and the European Commission (EC), which would mean additional competences and staff for European bureaucracies. Because it would centralize large parts of regulation and supervision, political arguments focus on the allocation of competences and power. However, it is not sure if the proposed changes would have any effect in preventing future crises. The structure of this paper follows a systematic approach to demonstrate problems with this proposal. At first, I show in chapter 2 that the role of regulation and governments in the financial crisis is ambiguous. What is viewed as market failure was sometimes only a rational response to incentives set by regulation. It is often stated that markets did not work efficiently, and the obvious solution is to rely on governments and regulators to fix the problems. I check if international comparison provides support for consolidating regulatory bodies. In Chapter 3, I assess in detail the proposed EU reform that focuses on establishing new bureaucracies and implementing more rules. I will use a structured Public Choice approach to evaluate the reform proposal and assess special interests of involved political parties. Chapter 4 examines the role of the EU Council and voter preferences. Considerable power in the EU decision-making process rests with parties that support centralization and more regulation. With various approaches, it is tried to shed light on the position of the Council as the representation of member states. While European institutions might embrace additional power and competences, rational voters in the member states should oppose harmful, excessive regulation and centralization. However, a detailed analysis of government and voter preferences reveals that both are likely to have biased preferences in favor of too much regulation.
This book provides an introduction to probability theory and its applications. The emphasis is on essential probabilistic reasoning, which is illustrated with a large number of samples. The fourth edition adds material related to mathematical finance as well as expansions on stable laws and martingales. From the reviews: "Almost thirty years after its first edition, this charming book continues to be an excellent text for teaching and for self study." -- STATISTICAL PAPERS
Seminar paper from the year 2010 in the subject Economics - Monetary theory and policy, grade: 1,0, University of Mannheim, course: Wirtschaftspolitik, language: English, abstract: Financial regulation has played an unfavorable role in the financial crisis. Many reform proposals conclude from its failure that there is a need for more and tougher rules (Group G30 2009).Consolidating existing regulatory bodies and a centralization of authorities seem to be the ubiquitous answer of many politicians. In the European Union (EU), a reform proposal has gained support by the European parliament (EP) and the European Commission (EC), which would mean additional competences and staff for European bureaucracies. Because it would centralize large parts of regulation and supervision, political arguments focus on the allocation of competences and power. However, it is not sure if the proposed changes would have any effect in preventing future crises. The structure of this paper follows a systematic approach to demonstrate problems with this proposal. At first, I show in chapter 2 that the role of regulation and governments in the financial crisis is ambiguous. What is viewed as market failure was sometimes only a rational response to incentives set by regulation. It is often stated that markets did not work efficiently, and the obvious solution is to rely on governments and regulators to fix the problems. I check if international comparison provides support for consolidating regulatory bodies. In Chapter 3, I assess in detail the proposed EU reform that focuses on establishing new bureaucracies and implementing more rules. I will use a structured Public Choice approach to evaluate the reform proposal and assess special interests of involved political parties. Chapter 4 examines the role of the EU Council and voter preferences. Considerable power in the EU decision-making process rests with parties that support centralization and more regulation. With various approaches, it is tri
How to Do Public Policy offers a guide to students and practitioners on how to improve problem-solving with policies in a political world. It integrates insights from applied policy analysis and studies of the policy process to develop a framework that conceives policy-making as structured by two spheres of action - the 'engine room' of specialists and experts in government agencies, NGOs, research organizations etc., on the one hand, and the political 'superstructure' of politicians, key public stakeholders and the public, on the other hand. Understanding the different logics of the engine room and the superstructure is key for successful policy-making. The dual structure of policy-making provides a perspective on policy-analysis (interactive policy analysis) and policy-making (actor-centred policy-making) that moves from the focus on individual and specific measures, towards understanding and shaping the relation and interaction between policy interventions, the institutional context and the stakeholders involved or affected. Part I of the book presents the basic analytical concepts needed to understand the policy process and the structures and dynamics involved in it, as well as to understand how and why actors behave the way they do-and how to engage with different types of actors. Part II moves further into the nuts and bolts of policy-making, including policy design, implementation, and evaluation. Part III introduces and explores three key aspects of the capacity to make good policies: engagement with stakeholders, the process of policy coordination in a context of interdependence, and the role of institutions.
The Electrical Engineer's Handbook is an invaluable reference source for all practicing electrical engineers and students. Encompassing 79 chapters, this book is intended to enlighten and refresh knowledge of the practicing engineer or to help educate engineering students. This text will most likely be the engineer’s first choice in looking for a solution; extensive, complete references to other sources are provided throughout. No other book has the breadth and depth of coverage available here. This is a must-have for all practitioners and students! The Electrical Engineer's Handbook provides the most up-to-date information in: Circuits and Networks, Electric Power Systems, Electronics, Computer-Aided Design and Optimization, VLSI Systems, Signal Processing, Digital Systems and Computer Engineering, Digital Communication and Communication Networks, Electromagnetics and Control and Systems. About the Editor-in-Chief... Wai-Kai Chen is Professor and Head Emeritus of the Department of Electrical Engineering and Computer Science at the University of Illinois at Chicago. He has extensive experience in education and industry and is very active professionally in the fields of circuits and systems. He was Editor-in-Chief of the IEEE Transactions on Circuits and Systems, Series I and II, President of the IEEE Circuits and Systems Society and is the Founding Editor and Editor-in-Chief of the Journal of Circuits, Systems and Computers. He is the recipient of the Golden Jubilee Medal, the Education Award, and the Meritorious Service Award from the IEEE Circuits and Systems Society, and the Third Millennium Medal from the IEEE. Professor Chen is a fellow of the IEEE and the American Association for the Advancement of Science. * 77 chapters encompass the entire field of electrical engineering. * THOUSANDS of valuable figures, tables, formulas, and definitions. * Extensive bibliographic references.
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