Financial and Monetary Policy Studies – serie
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94 produkter
94 produkter
Inbunden, Engelska, 1989
1 125 kr
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The present volume contains the texts of the papers and criti cal commentary presented at the one-day conference "Financing the world economy in the nineties" at Tilburg University (23 March 1988). This conference was organized by the Post-graduate School of Banking and Finance of "The Tilburg Institute of Advanced Studies" (T .I.A.S.) which is closely associated to Tilburg University. It should be borne in mind that all the chapters were written before March 1988. Although some were revised later, none of the authors has been asked to include develop ments which have occurred since. To achieve a better understanding of the current financial imbalances in the world economy and its consequences and to discuss the alternatives to correct these imbalances, this conference brought to gether outstanding authorities from the academic world, from the inter national supervisors, and from the industrial companies and the banks. After the editor's introduction about the external disequilib ria in the world economy and the burden of economic adjustment, Chapter 1 is the text of the opening address by Dr. Witteveen. He calls atten tion to the central issue, which financing needs that we can see now may persist into the nineties and how can they be met? In this context he mentions the U.S.-current account deficit, the need for stable exchange rates and the international debt problem.
Inbunden, Engelska, 1990
1 125 kr
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Some years ago, when Principal and Professor of Economics at the infant Univer sity of Buckingham, Britain's only independent university, I was intrigued to receive an application, supported by strong recommendations from a Signora Ilde Rizzo, who wished to take some courses in public finance. As she was already an of Catania, noted for its expertise in the economics of Assistant at the University public finance, my colleagues and I brushed aside her modest request to attend undergraduate courses and enrolled her in our new graduate course. We also hoped that she might, in time, be able to gain experience in teaching and writing in English. Dr. Rizzo exceeded our highest expectations. She presented the first D. Phil thesis ever at Buckingham and defended it with consummate success. This work is a revised and extended version of her thesis, and it is a pleasure to congratu late Dr. Rizzo on its appearance, and also her publisher for recognizing its qUality. It will come as no surprise to the reader that Dr. Rizzo has already published extensively in Italian and also in English, but this is her first book in the latter language. I am glad to think that Dr. Rizzo's thesis arose out of our mutual interest in the question as to whether debt financing offered governments a major opportunity for maintaining the growth of public spending.
Del 20 - Financial and Monetary Policy Studies
Financial Institutions in Europe under New Competitive Conditions
Inbunden, Engelska, 1990
1 125 kr
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The papers collected in this volume are those presented at the fifteenth Colloquium arranged by the Societe Universitaire Europeenne de Recherches Financieres (SUERF), which took place in Nice in October 1989. The Society is supported by a large number of central banks and commercial banks, by other financial and business institutions and by personal subs criptions from academics and others interested in monetary and financial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, r~esearch results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloquia for which volumes of the collected papers were published are noted on the last page of this volume. Volumes were not produced for Colloquia held at Tarragona, Spain in October 1970 under the title 'Monetary Policy and New Developments in Banking' and at Strasbourg, France in January 1972 under the title 'Aspects of European Monetary Union'.
Inbunden, Engelska, 1992
2 466 kr
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The papers collected in this volume are those presented at the sixteenth Colloquium arranged by the Societe Universitaire Europeenne de Re cherches Financieres (SUERF), which took place in Lisbon in May 1991. The Society is supported by a large number of central banks and commer cial banks, by other financial and business institutions, and by personal subscriptions from academics and others interested in monetary and financial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, research results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloquia for which volumes of the collected papers were published are noted on the last page of this volume. Volumes were not produced for Colloquia held at Tarragona, Spain in October 1970 under the title 'Monetary Policy and New Developments in Banking' and at Strasbourg, France in January 1972 under the title 'Aspects of European Monetary Union'.
Inbunden, Engelska, 1992
901 kr
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The co-ordination of regulations in Europe is a process characterized by a huge amount of information in different forms (decisions, regulations, directives, recommendations and opinions), at various stages of consideration. While current developments are debated in the influential media, no coherent overview is offered of the European Community co-ordination efforts as a whole, nor of relationships with other international regulations produced, for example, in the framework of the Bank for International Settlements (BIS). Such an overview is essential in order to gain a proper understanding of the consequences for the various countries. "Financial Integration in Europe" provides an overview of the core of European and BIS regulations insofar as these have been published in the "Official Journal of the European Communities (OJEC)" and in official BIS documents up to April 1, 1992. This publication covers the liberalization of capital movements in Europe and co-ordination efforts on credit institutions, investment firms, the securities market, undertakings for collective investment in transferable securities, insurance companies and pension funds.
Del 25 - Financial and Monetary Policy Studies
Design and Reform of Taxation Policy
Inbunden, Engelska, 1992
1 125 kr
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G. Galeotti* and M. Marrelli** *Universita di Perugia **Universita di Napoli 1. The economic analysis of optimal taxation has permitted considerable steps to be taken towards the understanding of a number of problems: the appropriate degree of progression, the balance between different taxes, the equity-efficiency trade-off etc .. Though at times considered as abstract and of little use in policy design, the issues it addresses are real ones and very much on the agenda of many countries. As usual in scientific debate, criticisms have contributed to the correct understanding of the theoretical problems involved and made clear that, at the present state of the art, definitive conclusions may be premature. A first well-taken criticism addresses the assumption, underlying optimal taxation models, of a competitive economy with perfect information on the part of individual agents and full market clearing. Once we leave the Arrow-Debreu world, it is no longer necessarily the case that taxes and transfers introduce distortions on otherwise efficient allocations.
Inbunden, Engelska, 1993
1 684 kr
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This work on the "new Europe" refers to two transitions. Eastern European economies, including CIS republics, are in the process of transition to a market economy. EC countries are on the way to implementing an economic and monetary union and many of them would welcome a political union. EC countries cannot be separated from EFTA member countries, nor Europe from the rest of the world. The two transitions are different in kind, and in some respects are opposed. While Western Europe is searching for more trade and monetary integration, ie for more globalization, Eastern economies are exposed to disintegration. At the same time the East is influenced by the West and both transitions have some common challenges: the search for a model of capitalism, intermediate between laissez-faire and interventionism; and the search for competition as a discipline and for efficiency. The book focuses on privatization, economic reform, relationships between banks and industry, the role of the State, the dynamics of banking and financial sectors, monetary reform, the independence of the central bank, the European monetary union, and East-West economic and financial relations.This collection of papers, authored by members of universities, financial institutions and international organisations, should be of interest for policy makers, executives and academics.
Inbunden, Engelska, 1994
1 125 kr
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Recently, De Nederlandsche Bank in coope:ration with the CentER for Economic Research of Tilburg University organised an international conference on monetary policy. This volume contains the papers, comments and speeches given on that occasion. The organisation of such a conference and the publication of this book were possible only through the efforts of a number of people. More in particular I would like to thank the organising committee (prof Onno de Beaufort Wijnholds, assoc prof Sylvester Eijffinger, dr Lex Hoogduin and Broos van der Werff) , Hans Haan the conference manager, Imelda Drubbel and Nicolette Ligtenberg who constituted the conference secretariat, Bert Groothoff who acted as press officer and Eric Schaling for their assistance. A special word of appreciation is due to mrs Bodil Andersen (Denmarks National Bank) and mr Kumiharu Shigehara (Organisation of Economic Cooperation and Development) who accepted the difficult task of chairing the meetings which they did most admirably. Of course, a conference cannot even take place without participants and cannot be a success without good participants.I am very pleased that we could be the host of the eminent group of people who in my view made the conference such a success. Before the conference I thought it would be a one-time-event. After the event I am not so sure.
Inbunden, Engelska, 1994
2 239 kr
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This text addresses key questions facing European financial markets today. It relates to the dramatic increase in competition between financial centres and institutions under the influence of several factors - the effect of innovation in financial products and technological processes, widespread deregulation and associated re-regulation (prudential rules), the implementation of the single market in Europe and the new strategies of institutions and national financial centres facing more competitive conditions. Major subjects include the transfer of fragility from the real economy to the financial sector, and vice versa, through such channels as booming financial activities, intense competition and greater risks, as in property lending, and also the more cautious policies adopted by financial intermediaries in response to losses in the recent recession. The papers were contributed by members of universities, the private financial sector, national and international policy making communities, and presented at the 18th Colloquium of the Societe Universitaire Europeenne de Recherches Financieres, in Dublin, May 1994.They should be of central importance to policy makers, bankers, financial executives and academics.
Häftad, Engelska, 1994
1 123 kr
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Recently, De Nederlandsche Bank in coope:ration with the CentER for Economic Research of Tilburg University organised an international conference on monetary policy. This volume contains the papers, comments and speeches given on that occasion. The organisation of such a conference and the publication of this book were possible only through the efforts of a number of people. More in particular I would like to thank the organising committee (prof Onno de Beaufort Wijnholds, assoc prof Sylvester Eijffinger, dr Lex Hoogduin and Broos van der Werff) , Hans Haan the conference manager, Imelda Drubbel and Nicolette Ligtenberg who constituted the conference secretariat, Bert Groothoff who acted as press officer and Eric Schaling for their assistance. A special word of appreciation is due to mrs Bodil Andersen (Denmarks National Bank) and mr Kumiharu Shigehara (Organisation of Economic Cooperation and Development) who accepted the difficult task of chairing the meetings which they did most admirably. Of course, a conference cannot even take place without participants and cannot be a success without good participants.I am very pleased that we could be the host of the eminent group of people who in my view made the conference such a success. Before the conference I thought it would be a one-time-event. After the event I am not so sure.
Inbunden, Engelska, 1995
900 kr
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This work offers a review of liberalization of capital movements in Europe, from the time that the Treaty of Rome was written in the 1950s to the complete abolition of restrictions in the latter half of the 1980s and early 1990s in the run up to Economic and Monetary Union. The process is described mainly from an institutional angle, with special reference to the far-reaching discussions in the Monetary Committee and the role of the European Commission. Related topics are also dealt with, such as monetary co-operation, the working of the European Monetary System, taxation and supervision issues. The book highlights the motives which drove countries in their desire to maintain or abolish restrictions. The eventual abolition of restrictions had important consequences for the financial structure in member states and for the transition to the use of indirect instruments of monetary policy by the national central banks. The work should be of interest to anyone who is professionally involved in European integration issues, and in monetary and financial policy.
Inbunden, Engelska, 1996
1 123 kr
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This work covers important monetary issues in the transition towards an economic and monetary union in Europe, containing contributions from renowned experts in relevant research and policy areas. Among other things, the contributions discuss the scope for inflation targeting, monetary interdependencies within the "core" ERM countries, money demand within the European Union, the difference between the monetary transmission mechanisms in the various European countries, and the preferred exchange rate policy in Stage Two of EMU. The book provides an overview of current issues for readers interested in monetary policy in a converging Europe.
Inbunden, Engelska, 1996
1 681 kr
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The rapidly changing structure of financial markets is leading to a radical shift in the way in which private-sector financial institutions and firms, and public regulators, are coping with risk. Faced with innovation and volatility, the task of risk management is being passed to the private sector. Following assessments of the extent of market volatility and risk in financial markets, this volume presents examples of how private institutions are developing new risk-management techniques and case studies from specific markets, including securities markets and retail banking. In addition, senior central bankers discuss their changing attitude to risk and regulation and the implications for exchange-rate and monetary policies. The papers are written by authors from a large number of countries covering a wide range of country experiences: by players in leading banks and companies; by public officials; and by academics, providing three differing perspectives on the financial markets of the 1990s. The four main sections address central bank perspectives, volatility and risk, institutional issues and practices, and the policy implications.The volume includes the 1995 Prix Marjolin essay and concludes with the 1995 Marjolin Lecture, given at the 19th Colloquium of the Societe Universitaire Europeenne de Recherches Financieres (SUERF) in Thun, Switzerland, from which the papers are selected. The contributions are intended for those in banks, securities houses, company treasuries, central banks and regulatory bodies, as well as to academics.
Inbunden, Engelska, 1997
1 681 kr
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The papers in this volume were presented in Budapest at the 20th Colloquium of the Societe Universitaire Europeenne de Recherches Financieres (SUERF), arranged in association with the Robert Triffin-Szirak Foundation. Each paper deals with a different aspect of the characteristics of and trends in corporate governance. The three main topics are: corporate governance of financial institutions; corporate governance as exerted by financial institutions; financial instutions as participants in the transfer of corporate governance. The structure of financial markets and institutions has a significant impact on the ways in which the power to manage corporate resources is allocated. The relative roles of different types of owners and the legal framework within which they operate are currently in a state of flux throughout Europe. Financial integration in the European Union, the transition to open market economies in Central and Eastern Europe and privatization, have a profound effect on the behaviour and influence of different enterprises.This collection of papers demonstrates the range of aspects of corporate governance in a world characterized by rapid technological, political and institutional change which is currently concerning researchers and practitioners. The authors come from a wide number of countries and disciplines, and include people from banks and corporations, public officials and academics, providing different perspectives on corporate governance, financial markets and global convergence in eastern and western Europe. Their contributions should be of considerable interest to academics in the fields of finance and banking, monetary economics and macro-economics, and also to professionals in banks, securities houses, corporate treasuries, pension funds, consultancies, law firms, central banks and regulatory bodies.
Del 35 - Financial and Monetary Policy Studies
Preparation of Monetary Policy
Essays on a Multi-Model Approach
Inbunden, Engelska, 2000
1 123 kr
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Standard macroeconomic monographs often discuss the mechanism of monetary transmission, usually ending by highlighting the complexities and uncertainties involved in this mechanism. Conversely, The Preparation of Monetary Policy takes these uncertainties as a starting point, analytically investigating their nature and spelling out their consequences for the monetary policy maker. The second innovative aspect of this book is its focus on policy preparation instead of well-covered topics such as monetary policy strategy, tactics, and implementation. Thirdly, a general, multi-model framework for preparing monetary policy is proposed, which is illustrated by case studies stressing the role of international economic linkages and of expectations. Written in a self-contained fashion, these case studies are of interest by themselves. The book is written for an audience that is interested in the art and science of monetary policy making, which includes central bankers, academics, and (graduate) students in the field of monetary economics, macroeconomics, international economics and finance.
Inbunden, Engelska, 2000
1 681 kr
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Europe has a rich monetary history. Until recently, its many central banks assigned divergent priorities and pursued policy objectives via different routes. As a result, Europe's past provides fertile ground for those seeking practical guidance to the art ofcentral banking. The importance of this past gained a new dimension with the prospect of Economic and Monetary Union in 1999, as the participating countries were faced with the challenge of bridging their differences and forging a common monetary policy strategy that would apply throughout the new currency area. At the same time, these countries sought to build forth on the theretofore most successful central bank strategies, thereby maintaining a certain degree of policy continuity. Monetary policy strategy is at the core of central banking. This strategy determines how incoming information on economic developments is translated into monetary policy actions and how these policy actions are communicated to the public at large. In other words, the strategy fulfils the dual role ofimposing a structure on the internal policy-making process and ofproviding a vehicle for the external communication of this process. The design of a monetary policy strategy thus brings together key elements such as consistency and transparency - that together determine the effectiveness and credibility ofmonetary policy.
Inbunden, Engelska, 1996
1 681 kr
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Coping with Financial Fragility and Systemic Risk identifies and discusses the sources of perceived fragility in financial institutions and markets and its potential consequences throughout the economy. It then examines private sector solutions for dealing with systemic risk and mitigating the consequences. Finally, the book examines regulatory solutions to these problems.
Häftad, Engelska, 2010
1 683 kr
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for many years been heavily dependent on bank financing, and this situation has not changed fundamentally. In his paper on stock exchange governance in the European Union Guido Ferrarini discusses the relative merits of member and investor ownership and compares stock exchange regulation in a number of EU countries. Faced with increasing competition amongst themselves and against other enterprises that offer transaction services, such as proprietary trading systems, it is essential for European stock exchanges to improve their efficiency and to generate volume. Large investments in new information technology are necessary in order to preserve competitiveness in agIobaI financial market. The implementation of the ISD has accelerated cross-border transaction activity of member firms and investors and strengthened the pressure for convergence of national stock exchange laws in the EU. In their paper, Francesco Giavazzi and Marco Battaglini look at the role played by banks in privatization processes. Banks can be involved in such processes in several ways. They may themselves be the objects of privatization since in many countries a significant fraction of the banking industry is publicly owned. This is the case in France, Spain and Italy. But banks can also be important buyers of the equity of industrial firms sold by the government if they are allowed to do so. The authors characterize privatizations as a very good opportunity to set up the right environment for the development of new financial intermediaries and in general for asound corporate governance system.
Del 35 - Financial and Monetary Policy Studies
Preparation of Monetary Policy
Essays on a Multi-Model Approach
Häftad, Engelska, 2010
1 123 kr
Skickas inom 10-15 vardagar
Standard macroeconomic monographs often discuss the mechanism of monetary transmission, usually ending by highlighting the complexities and uncertainties involved in this mechanism. Conversely, The Preparation of Monetary Policy takes these uncertainties as a starting point, analytically investigating their nature and spelling out their consequences for the monetary policy maker. The second innovative aspect of this book is its focus on policy preparation instead of well-covered topics such as monetary policy strategy, tactics, and implementation. Thirdly, a general, multi-model framework for preparing monetary policy is proposed, which is illustrated by case studies stressing the role of international economic linkages and of expectations. Written in a self-contained fashion, these case studies are of interest by themselves. The book is written for an audience that is interested in the art and science of monetary policy making, which includes central bankers, academics, and (graduate) students in the field of monetary economics, macroeconomics, international economics and finance.
Häftad, Engelska, 2010
1 681 kr
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Coping with Financial Fragility and Systemic Risk identifies and discusses the sources of perceived fragility in financial institutions and markets and its potential consequences throughout the economy. It then examines private sector solutions for dealing with systemic risk and mitigating the consequences. Finally, the book examines regulatory solutions to these problems.
Häftad, Engelska, 2011
1 092 kr
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Monetary Policy in a Converging Europe covers the most important monetary issues in the transition towards an Economic and Monetary Union in Europe, containing contributions from renowned experts in relevant research and policy areas. Among other things, the contributions discuss the scope for inflation targeting, monetary interdependencies within the `core' ERM countries, money demand within the European Union, the difference between the monetary transmission mechanisms in the various European countries, and the preferred exchange rate policy in Stage Two of EMU. The book provides an excellent overview of current issues for anyone interested in monetary policy in a converging Europe.
Häftad, Engelska, 2013
1 794 kr
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intense competition on banks and other financial institutions, as a period of oligopoly ends: more rather than less innovation is needed to help share undi versifiable risks, with more attention to correlations between different risks. Charles Goodhart of the London School of Economics (LSE), while ques tioning the idea that volatility has increased, concludes that structural changes have made regulation more problematic and calls for improved information availability on derivatives transactions. In a thirteen country case study of the bond market turbulence of 1994, Bo rio and McCauley of the BIS pin the primary causes of the market decline on the market's own dynamics rather than on variations in market participants' apprehensions about economic fundamentals. Colm Kearney of the Univer sity of Western Sydney, after a six country study of volatility in economic and financial variables, concludes that more international collaboration in man aging financial volatility (other than in foreign exchange markets) is needed in Europe. Finally, Stokman and Vlaar of the Dutch central bank investigate the empirical evidence for the interaction between volatility and international transactions in real and financial assets for the Netherlands, concluding that such influence depends on the chosen volatility measure. The authors sug gest that there are no strong arguments for international restrictions to reduce volatility. INSTITUTIONAL ISSUES AND PRACTICES The six papers in Part C focus on what market participants are doing to manage risk.
Häftad, Engelska, 2012
1 681 kr
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Europe has a rich monetary history. Until recently, its many central banks assigned divergent priorities and pursued policy objectives via different routes. As a result, Europe's past provides fertile ground for those seeking practical guidance to the art ofcentral banking. The importance of this past gained a new dimension with the prospect of Economic and Monetary Union in 1999, as the participating countries were faced with the challenge of bridging their differences and forging a common monetary policy strategy that would apply throughout the new currency area. At the same time, these countries sought to build forth on the theretofore most successful central bank strategies, thereby maintaining a certain degree of policy continuity. Monetary policy strategy is at the core of central banking. This strategy determines how incoming information on economic developments is translated into monetary policy actions and how these policy actions are communicated to the public at large. In other words, the strategy fulfils the dual role ofimposing a structure on the internal policy-making process and ofproviding a vehicle for the external communication of this process. The design of a monetary policy strategy thus brings together key elements such as consistency and transparency - that together determine the effectiveness and credibility ofmonetary policy.
Del 47 - Financial and Monetary Policy Studies
Public Finance and National Accounts in the European Context
Inbunden, Engelska, 2019
1 205 kr
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This book offers an essential guide to Public Finance and National Accounts in the context of the European Union. Since the creation of the Eurozone, fiscal policy has been at the heart of economic (but also political/media) discussions in the EU. From the Stability and Growth Pact (1997) to the more recent Fiscal Treaty, EU and Eurozone, countries have been subject to various fiscal rules. The importance of these rules, and of the subsequent procedures that every Eurozone country has to adhere to, is unquestionable. The book provides the reader with an in-depth understanding of the complex EU rules concerning fiscal policy, breaking down the corresponding legal texts into simple and accessible language. It has a broad interdisciplinary appeal, and scholars and practitioners whose work involves these areas will find it of particular interest.
Del 46 - Financial and Monetary Policy Studies
International Macroeconomics in the Wake of the Global Financial Crisis
Häftad, Engelska, 2018
1 349 kr
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This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position.Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Del 48 - Financial and Monetary Policy Studies
Future of Pension Plans in the EU Internal Market
Coping with Trade-Offs Between Social Rights and Capital Markets
Inbunden, Engelska, 2019
1 125 kr
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This edited volume takes a closer look at various European pension-plan models and the recent challenges, trends and predictions related to the design of such schemes. The contributors analyse new ideas, both from national governments and European institutions, and consider current debates on topics such as the Capital Markets Union (CMU) and the so-called ‘European Pillar of Social Rights’ – calling for a new approach to social policy at the European level in response to common challenges, such as ageing and the digital revolution.This interdisciplinary work embraces economic, financial and legal perspectives, while focusing on previously selected coherence aspects in order to ensure that the analyses are comprehensive and globally consistent.
Del 48 - Financial and Monetary Policy Studies
Future of Pension Plans in the EU Internal Market
Coping with Trade-Offs Between Social Rights and Capital Markets
Häftad, Engelska, 2020
1 125 kr
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This edited volume takes a closer look at various European pension-plan models and the recent challenges, trends and predictions related to the design of such schemes. The contributors analyse new ideas, both from national governments and European institutions, and consider current debates on topics such as the Capital Markets Union (CMU) and the so-called ‘European Pillar of Social Rights’ – calling for a new approach to social policy at the European level in response to common challenges, such as ageing and the digital revolution.This interdisciplinary work embraces economic, financial and legal perspectives, while focusing on previously selected coherence aspects in order to ensure that the analyses are comprehensive and globally consistent.
Del 49 - Financial and Monetary Policy Studies
Hungary and Other Emerging EU Countries in the Financial Storm
From Minor Turbulences to a Global Hurricane
Inbunden, Engelska, 2020
1 123 kr
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This book analyzes the banking crisis and the events surrounding it in Hungary and other emerging EU member countries in 2007-2013. Written by Júlia Király, a former policymaker, and the Deputy Governor of the Hungarian Central Bank at the time of the crisis, it also offers a firsthand account of the processes in and responses to the financial crisis. While there is extensive literature on the crisis, most of it focuses on the US or the Eurozone, sometimes mentioning the “emerging world” in passing. However, Central and Eastern Europe experienced the crisis very differently than other emerging countries. In the pre-crisis years, the region in accession to the EU attracted abundant fresh capital, but the seemingly unconstrained global liquidity fuelled credit bubbles. After the Lehman crisis, capital rapidly fled these countries. In this part of the world, the recession proved to be much worse than elsewhere, with double-digit growth soon turning into a double-digitdecline in GDP. Several countries had to turn to the IMF and the EU for stand-by credit. Based on her own inside experience as a top central banker, the author offers a personal yet professional analysis of the causes and consequences of the financial hurricane.
Del 49 - Financial and Monetary Policy Studies
Hungary and Other Emerging EU Countries in the Financial Storm
From Minor Turbulences to a Global Hurricane
Häftad, Engelska, 2021
1 123 kr
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This book analyzes the banking crisis and the events surrounding it in Hungary and other emerging EU member countries in 2007-2013. Written by Júlia Király, a former policymaker, and the Deputy Governor of the Hungarian Central Bank at the time of the crisis, it also offers a firsthand account of the processes in and responses to the financial crisis. While there is extensive literature on the crisis, most of it focuses on the US or the Eurozone, sometimes mentioning the “emerging world” in passing. However, Central and Eastern Europe experienced the crisis very differently than other emerging countries. In the pre-crisis years, the region in accession to the EU attracted abundant fresh capital, but the seemingly unconstrained global liquidity fuelled credit bubbles. After the Lehman crisis, capital rapidly fled these countries. In this part of the world, the recession proved to be much worse than elsewhere, with double-digit growth soon turning into a double-digitdecline in GDP. Several countries had to turn to the IMF and the EU for stand-by credit. Based on her own inside experience as a top central banker, the author offers a personal yet professional analysis of the causes and consequences of the financial hurricane.
Inbunden, Engelska, 2020
1 416 kr
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This book examines the challenges for the life insurance sector in Europe arising from new technologies, socio-cultural and demographic trends, and the financial crisis. It presents theoretical and applied research in all areas related to life insurance products and markets, and explores future determinants of the insurance industry’s development by highlighting novel solutions in insurance supervision and trends in consumer protection. Drawing on their academic and practical expertise, the contributors identify problems relating to risk analysis and evaluation, demographic challenges, consumer protection, product distribution, mortality risk modeling, applications of life insurance in contemporary pension systems, financial stability and solvency of life insurers. They also examine the impact of population aging on life insurance markets and the role of digitalization. Lastly, based on an analysis of early experiences with the implementation of the Solvency II system,the book provides policy recommendations for the development of life insurance in Europe.