An integrated approach to the economics of sovereign default Fiscal crises and sovereign default repeatedly threaten the stability and growth of economies around the world. Mark Aguiar and Manuel Amador provide a unified and tractable theoretical framework that elucidates the key economics behind sovereign debt markets, shedding light on the frictions and inefficiencies that prevent the smooth functioning of these markets, and proposing sensible approaches to sovereign debt management. The Economics of Sovereign Debt and Default looks at the core friction unique to sovereign debt—the lack of strong legal enforcement—and goes on to examine additional frictions such as deadweight costs of default, vulnerability to runs, the incentive to “dilute” existing creditors, and sovereign debt’s distortion of investment and growth. The book uses the tractable framework to isolate how each additional friction affects the equilibrium outcome, and illustrates its counterpart using state-of-the-art computational modeling. The novel approach presented here contrasts the outcome of a constrained efficient allocation—one chosen to maximize the joint surplus of creditors and government—with the competitive equilibrium outcome. This allows for a clear analysis of the extent to which equilibrium prices efficiently guide the government’s debt and default decisions, and of what drives divergences with the efficient outcome. Providing an integrated approach to sovereign debt and default, this incisive and authoritative book is an ideal resource for researchers and graduate students interested in this important topic.
Marine ecosystems, a very wide topic, includes many different processes, groups of organisms and geographical peculiarities. The objective of this book is to present various topics of great importance for understanding the marine ecosystems, what they are, how they work and how we can model them in order to forecast their behaviour under changing conditions. They have been thoroughly reviewed and accepted for publication. The chapters cover aspects such as: Threats to ultraoligotrophic marine ecosystems (Ch. 1); Modelling the pelagic ecosystem dynamics: the NW Mediterranean (Ch. 2); The marine ecosystem of the Sub-antarctic, Prince Edward Islands (Ch. 3); Meiofauna as a tool for marine ecosystem biomonitoring (Ch. 4); Chemical interactions in Antarctic marine benthic ecosystems (Ch. 5); An Interdisciplinary Approach on Erosion Mitigation for Coral Reef Protection- A Case Study from the Eastern Caribbean (Ch. 6); A revisit to the evolution and ecophysiology of the Labyrinthulomycetes (Ch. 7); Seabed mapping and marine spatial planning: a case-study from a Swedish marine protected area (Ch. 8); Management strategies to limit the impact of bottom trawling on VMEs in the High Seas of the SW Atlantic (Ch. 9); Hydrocarbon contamination and the swimming behavior of the estuarine copepod Eurytemora affinis (Ch. 10), and Interactions between marine ecosystems and tourism on the Adriatic and Mediterranean (Ch. 11).
An integrated approach to the economics of sovereign default Fiscal crises and sovereign default repeatedly threaten the stability and growth of economies around the world. Mark Aguiar and Manuel Amador provide a unified and tractable theoretical framework that elucidates the key economics behind sovereign debt markets, shedding light on the frictions and inefficiencies that prevent the smooth functioning of these markets, and proposing sensible approaches to sovereign debt management. The Economics of Sovereign Debt and Default looks at the core friction unique to sovereign debt—the lack of strong legal enforcement—and goes on to examine additional frictions such as deadweight costs of default, vulnerability to runs, the incentive to “dilute” existing creditors, and sovereign debt’s distortion of investment and growth. The book uses the tractable framework to isolate how each additional friction affects the equilibrium outcome, and illustrates its counterpart using state-of-the-art computational modeling. The novel approach presented here contrasts the outcome of a constrained efficient allocation—one chosen to maximize the joint surplus of creditors and government—with the competitive equilibrium outcome. This allows for a clear analysis of the extent to which equilibrium prices efficiently guide the government’s debt and default decisions, and of what drives divergences with the efficient outcome. Providing an integrated approach to sovereign debt and default, this incisive and authoritative book is an ideal resource for researchers and graduate students interested in this important topic.
The Illicit American is a true story about Raymond Cass Archuleta. The story is propelled by intrigue, violence, love, hate, wanton sex, humor, and revenge. Cass, 28, is the Illicit American. A once honorable man, he is forced by poverty into smuggling illegal aliens to support his destitute family. Vowing to engage in the repugnant profession only until he is on his feet financially, he is seduced by power and greed culminating in the creation of the largest illegal alien smuggling ring in the U.S. from his base in San Diego from 1969 to 1972. Frustrated federal agents place Cass on the Ten Most Wanted list and his empire is eventually toppled by a quirk of fate. He served one year in prison and is now a respectable citizen. The book is co-authored by Dr. Manuel Vic Villalpando because of his many credentials and his doctoral dissertation on the subject of undocumented migrant workers. The epic is energized by the antics of Mario, Julio, and Will, Cass' childhood friends. Reader Reviews Stunning and riveting. I couldn't put it down until I read the last page. Gary Simpson, San Diego Dr. Villalpando's writing style is dynamic and captivating, and I hope that Mr. Archuleta has him write the sequel if one is planned. Dannez Hunter, Los Angeles Other than gasp from the shocking drama, I also laughed hysterically at the humorous repartee of the callous, but rather heroic and lovable smugglers. Frank Huttlinger, Orange County Villalpando's writing talent made Archuleta's horrific epic into a compelling read that not only entertained me, it also stirred my conscience on current immigration issues. Guadalupe Castaños, Yuma The Hispanic vernacular is right-on! It's the best I've read. Al Velasco, San Diego Gripping Panoramic A tour de force. Janet Keller, La Mesa Since my retirement as Director of the San Diego State University Office of Educational Opportunity/Ethnic Affairs, and being an avid reader, I have been indulging my love of literature at a voracious pace, and I just finished reading THE ILLICIT AMERICAN, one of the most compelling, riveting, stunning, and provocative nonfiction books I have ever read. The dramatic epic is so intriguing and shocking that, I thought I was reading an incredulous fictional story. It's a fabulous read. Gus Chavez This nonfictional saga is so beautifully detailed that, I felt as if I was watching a film instead of reading a book. It's a captivating page-turner that would make a great movie. Chris Feldman, La Jolla If someone is looking for a literary treat that evokes vivid imagery and breathless emotion, read THE ILLICIT AMERICAN. George Chandler, San Diego An illuminated portrait of human potential when man is pushed to the limits of desperation. THE ILLICIT AMERICAN is a work of stunning effect. Ed Sutton, San Diego
Américo Paredes (1915-1999) was a folklorist, scholar, and professor at the University of Texas at Austin who is widely acknowledged as one of the founding scholars of Chicano Studies. Born in Brownsville, Texas, along the southern U.S.-Mexico Border, Paredes’ early experiences impacted his writing during his later years as an academic. He grew up between two worlds—one written about in books, the other sung about in ballads and narrated in folktales. He attended a school system that emphasized conformity and Anglo values in a town whose population was 70 percent Mexican in origin. During World War II, he worked for the International American Red Cross and wrote for the Stars and Stripes army newspaper in the Far East. He returned to Texas with a new bride and a passion for continuing his formal education and his writing. Paredes did both at the University of Texas at Austin, where he completed his Ph.D. in 1956. With the publication of his dissertation, “With His Pistol in His Hand”: A Border Ballad and Its Hero in 1958, Paredes soon emerged as a challenger to the status quo. His book questioned the mythic nature of the Texas Rangers and provided an alternative counter-cultural narrative to the existing traditional narratives of Walter Prescott Webb and J. Frank Dobie, among others. For the next forty years he was a brilliant teacher and prolific writer who championed the preservation of border culture and history. He was a soft-spoken, at times temperamental, yet fearless professor. He was a co-founder in 1970 of the Center for Mexican American Studies at the University of Texas at Austin and is credited with introducing the concept of Greater Mexico, decades before its wider acceptance today among transnationalist scholars. He received numerous awards, including La Orden del Aguila Azteca, Mexico’s most prestigious service award to a foreigner. Paredes became a scholar of scholars, guiding many students to become academic leaders. Manuel F. Medrano interviewed Paredes over a five-year period before Paredes’ death in 1999, and also interviewed his family and colleagues. For many Mexican Americans, Paredes’ historical legacy is that he raised, carried, and defended their cultural flag with a dignity that both friends and foes respected.
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