Alfredo Bellen and Marino Zennaro
- Published in print:
- 2003
- Published Online:
- September 2007
- ISBN:
- 9780198506546
- eISBN:
- 9780191709609
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198506546.001.0001
- Subject:
- Mathematics, Numerical Analysis
The main purpose of the book is to introduce the numerical integration of the Cauchy problem for delay differential equations (DDEs) and of the neutral type. Comparisons between DDEs and ordinary ...
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The main purpose of the book is to introduce the numerical integration of the Cauchy problem for delay differential equations (DDEs) and of the neutral type. Comparisons between DDEs and ordinary differential equations (ODEs) are made using examples illustrating some unexpected and often surprising behaviours of the true and numerical solutions. The book briefly reviews the various approaches existing in the literature and develops an error and well-posedness analysis for general one-step and multistep methods. The continuous extensions of Runge-Kutta methods are presented in detail, which are useful for more general problems such as dense output and discontinuous equations. Some deeper insight into convergence and superconvergence is then carried out for DDEs with various kinds of delays. The stepsize control mechanism is developed on a firm mathematical basis. Classical results and an unconventional analysis of stability with respect to forcing term are reviewed for ODEs in view of the subsequent stability analysis for DDEs. Moreover, an exhaustive description of stability domains for some test DDEs is carried out and the corresponding investigations for the numerical methods are made. Reformulations of DDEs as partial differential equations and subsequent semi-discretization are described and compared with the classical approach. A list of available codes is provided.Less
The main purpose of the book is to introduce the numerical integration of the Cauchy problem for delay differential equations (DDEs) and of the neutral type. Comparisons between DDEs and ordinary differential equations (ODEs) are made using examples illustrating some unexpected and often surprising behaviours of the true and numerical solutions. The book briefly reviews the various approaches existing in the literature and develops an error and well-posedness analysis for general one-step and multistep methods. The continuous extensions of Runge-Kutta methods are presented in detail, which are useful for more general problems such as dense output and discontinuous equations. Some deeper insight into convergence and superconvergence is then carried out for DDEs with various kinds of delays. The stepsize control mechanism is developed on a firm mathematical basis. Classical results and an unconventional analysis of stability with respect to forcing term are reviewed for ODEs in view of the subsequent stability analysis for DDEs. Moreover, an exhaustive description of stability domains for some test DDEs is carried out and the corresponding investigations for the numerical methods are made. Reformulations of DDEs as partial differential equations and subsequent semi-discretization are described and compared with the classical approach. A list of available codes is provided.
Peter J. Burke and Jan E. Stets
- Published in print:
- 2009
- Published Online:
- May 2012
- ISBN:
- 9780195388275
- eISBN:
- 9780199943937
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195388275.001.0001
- Subject:
- Sociology, Social Psychology and Interaction
The concept of identity has become widespread within the social and behavioral sciences in recent years, cutting across disciplines from psychiatry and psychology to political science and sociology. ...
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The concept of identity has become widespread within the social and behavioral sciences in recent years, cutting across disciplines from psychiatry and psychology to political science and sociology. All individuals claim particular identities given their roles in society, groups they belong to, and characteristics that describe themselves. Introduced almost thirty years ago, identity theory is a social psychological theory that attempts to understand identities, their sources in interaction and society, their processes of operation, and their consequences for interaction and society from a sociological perspective. This book describes identity theory, its origins, the research that supports it, and its future direction. It covers the relation between identity theory and other related theories, as well as the nature and operation of identities. In addition, the book discusses the multiple identities individuals hold from their multiple positions in society and organizations as well as the multiple identities activated by many people interacting in groups and organizations. Finally, it covers the manner in which identities offer both stability and change to individuals. Step by step, the book makes the full range of this powerful new theory understandable.Less
The concept of identity has become widespread within the social and behavioral sciences in recent years, cutting across disciplines from psychiatry and psychology to political science and sociology. All individuals claim particular identities given their roles in society, groups they belong to, and characteristics that describe themselves. Introduced almost thirty years ago, identity theory is a social psychological theory that attempts to understand identities, their sources in interaction and society, their processes of operation, and their consequences for interaction and society from a sociological perspective. This book describes identity theory, its origins, the research that supports it, and its future direction. It covers the relation between identity theory and other related theories, as well as the nature and operation of identities. In addition, the book discusses the multiple identities individuals hold from their multiple positions in society and organizations as well as the multiple identities activated by many people interacting in groups and organizations. Finally, it covers the manner in which identities offer both stability and change to individuals. Step by step, the book makes the full range of this powerful new theory understandable.
Dermot Hodson
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199572502
- eISBN:
- 9780191728860
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199572502.001.0001
- Subject:
- Political Science, Political Economy, European Union
Can the euro area survive without a centralized economic policy? What lessons can be drawn from Economic and Monetary Union (EMU) about new modes of policymaking in the European Union? Have euro area ...
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Can the euro area survive without a centralized economic policy? What lessons can be drawn from Economic and Monetary Union (EMU) about new modes of policymaking in the European Union? Have euro area members spoken with one voice on the international stage and what does this mean for the European Union's ambitions to be a global actor? This book explores these key questions through an in-depth study of euro area governance from the launch of the single currency in 1999 to the sovereign debt crisis of 2010. Drawing insights from the study of European Union politics, comparative political economy, and international political economy, it examines: Economic and Monetary Union's break from the European Union's traditional modus operandi, the Community method; the European Central Bank's ambivalence about ever closer union; the Eurogroup's rise and fall as a forum for coordination; the interplay between national institutions and the stability and growth pact; the Broad Economic Policy Guidelines' failure to apply peer pressure; the European Union's influence within the G20 and the International Monetary Fund at the height of the global financial crisis; euro diplomacy towards China and other rising powers; and debates about the fate of EMU and the reform of euro area governance in the aftermath of the global financial crisis. The book's conclusions challenge claims that the euro area is in crisis because of its decentralized approach to decision-making alone and the corollary that the euro can be saved only through a further transfer of sovereignty to the supranational level.Less
Can the euro area survive without a centralized economic policy? What lessons can be drawn from Economic and Monetary Union (EMU) about new modes of policymaking in the European Union? Have euro area members spoken with one voice on the international stage and what does this mean for the European Union's ambitions to be a global actor? This book explores these key questions through an in-depth study of euro area governance from the launch of the single currency in 1999 to the sovereign debt crisis of 2010. Drawing insights from the study of European Union politics, comparative political economy, and international political economy, it examines: Economic and Monetary Union's break from the European Union's traditional modus operandi, the Community method; the European Central Bank's ambivalence about ever closer union; the Eurogroup's rise and fall as a forum for coordination; the interplay between national institutions and the stability and growth pact; the Broad Economic Policy Guidelines' failure to apply peer pressure; the European Union's influence within the G20 and the International Monetary Fund at the height of the global financial crisis; euro diplomacy towards China and other rising powers; and debates about the fate of EMU and the reform of euro area governance in the aftermath of the global financial crisis. The book's conclusions challenge claims that the euro area is in crisis because of its decentralized approach to decision-making alone and the corollary that the euro can be saved only through a further transfer of sovereignty to the supranational level.
Yung Chul Park
- Published in print:
- 2005
- Published Online:
- February 2006
- ISBN:
- 9780199276776
- eISBN:
- 9780191603051
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199276773.003.0025
- Subject:
- Economics and Finance, South and East Asia
China’s growing influence has become a concern in terms of its role and potential dominance in East Asian integration. The key to a successful new paradigm for East Asia involves taking elements from ...
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China’s growing influence has become a concern in terms of its role and potential dominance in East Asian integration. The key to a successful new paradigm for East Asia involves taking elements from both the pre-crisis and Anglo-American models resulting in better policy coordination, more efficient regional cooperative agreements, and deeper integration.Less
China’s growing influence has become a concern in terms of its role and potential dominance in East Asian integration. The key to a successful new paradigm for East Asia involves taking elements from both the pre-crisis and Anglo-American models resulting in better policy coordination, more efficient regional cooperative agreements, and deeper integration.
Stefano Atzeni and Jürgen Meyer-ter-Vehn
- Published in print:
- 2004
- Published Online:
- January 2008
- ISBN:
- 9780198562641
- eISBN:
- 9780191714030
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198562641.001.0001
- Subject:
- Physics, Nuclear and Plasma Physics
The book is devoted to targets for nuclear fusion by inertial confinement and to the various branches of physics involved. It first discusses fusion reactions and general requirements for fusion ...
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The book is devoted to targets for nuclear fusion by inertial confinement and to the various branches of physics involved. It first discusses fusion reactions and general requirements for fusion energy production. It then introduces and illustrates the concept of inertial confinement fusion by spherical implosion, followed by detailed treatments of the physics of fusion ignition and burn, and of energy gain. The next part of the book is mostly devoted to the underlying physics involved in inertial fusion, and covers hydrodynamics, hydrodynamic stability, radiative transport and equations-of-state of hot dense matter, laser and ion beam interaction with plasma. It discusses different approaches to inertial fusion (direct-drive by laser, indirect-drive by laser or ion beams), including recent developments in fast ignition. The goal of the book is to give an introduction to this subject, and also to provide practical results even when derived on the basis of simplified models.Less
The book is devoted to targets for nuclear fusion by inertial confinement and to the various branches of physics involved. It first discusses fusion reactions and general requirements for fusion energy production. It then introduces and illustrates the concept of inertial confinement fusion by spherical implosion, followed by detailed treatments of the physics of fusion ignition and burn, and of energy gain. The next part of the book is mostly devoted to the underlying physics involved in inertial fusion, and covers hydrodynamics, hydrodynamic stability, radiative transport and equations-of-state of hot dense matter, laser and ion beam interaction with plasma. It discusses different approaches to inertial fusion (direct-drive by laser, indirect-drive by laser or ion beams), including recent developments in fast ignition. The goal of the book is to give an introduction to this subject, and also to provide practical results even when derived on the basis of simplified models.
Tommaso Padoa-Schioppa
- Published in print:
- 2004
- Published Online:
- July 2005
- ISBN:
- 9780199270569
- eISBN:
- 9780191602542
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199270562.001.0001
- Subject:
- Economics and Finance, Financial Economics
This book presents eight essays on financial regulation, focusing on the European context. Essay one examines the concept of market-friendly regulation. Essay two discusses the need for stronger bank ...
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This book presents eight essays on financial regulation, focusing on the European context. Essay one examines the concept of market-friendly regulation. Essay two discusses the need for stronger bank licensing principles. Essay three explores the changing attitude towards banking competition. Essay four discusses self-regulation by financial institutions. Essay five explores the increasing links between banking and securities activities. Essay six examines the organisational structure of financial regulatory and supervisory functions. Essays seven and eight discuss the abandonment of the coincidence between the jurisdiction of monetary policy and the jurisdiction of banking supervision, and the important role of central banks in financial stability, respectively.Less
This book presents eight essays on financial regulation, focusing on the European context. Essay one examines the concept of market-friendly regulation. Essay two discusses the need for stronger bank licensing principles. Essay three explores the changing attitude towards banking competition. Essay four discusses self-regulation by financial institutions. Essay five explores the increasing links between banking and securities activities. Essay six examines the organisational structure of financial regulatory and supervisory functions. Essays seven and eight discuss the abandonment of the coincidence between the jurisdiction of monetary policy and the jurisdiction of banking supervision, and the important role of central banks in financial stability, respectively.
David McKay
- Published in print:
- 1999
- Published Online:
- October 2011
- ISBN:
- 9780198296775
- eISBN:
- 9780191685279
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198296775.001.0001
- Subject:
- Political Science, European Union
This book examines the decision to adopt European Monetary Union (EMU) as a federal bargain by the European Union, designed to provide the countries of Europe with a bulwark against the volatility of ...
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This book examines the decision to adopt European Monetary Union (EMU) as a federal bargain by the European Union, designed to provide the countries of Europe with a bulwark against the volatility of the international economy. Although the precise motives of the participants varied from country to country, all were agreed that only federal-like political and economic arrangements would provide a guarantee of economic and political stability. The book provides a coherent theoretical framework for understanding the decisions taken at Maastricht and later. By making comparisons with other federations, the book also examines the political and economic conditions under which federations succeed or fail. It concludes that EMU will only be politically sustainable if novel ways are found to limit centrally imposed fiscal and spending policies.Less
This book examines the decision to adopt European Monetary Union (EMU) as a federal bargain by the European Union, designed to provide the countries of Europe with a bulwark against the volatility of the international economy. Although the precise motives of the participants varied from country to country, all were agreed that only federal-like political and economic arrangements would provide a guarantee of economic and political stability. The book provides a coherent theoretical framework for understanding the decisions taken at Maastricht and later. By making comparisons with other federations, the book also examines the political and economic conditions under which federations succeed or fail. It concludes that EMU will only be politically sustainable if novel ways are found to limit centrally imposed fiscal and spending policies.
Michio Morishima
- Published in print:
- 1963
- Published Online:
- November 2003
- ISBN:
- 9780198281450
- eISBN:
- 9780191596650
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198281455.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book brings together papers that were published by the author in several journals, and which have been revised and contain some new material. The main model carried through the whole book is ...
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This book brings together papers that were published by the author in several journals, and which have been revised and contain some new material. The main model carried through the whole book is Leontief's input–output system, which is dynamized from various points of view. Chapter 1 discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system. Chapter 2 is concerned with the stability of the mixed Walras–Leontief system. Chapters 3 and 4 are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. Chapters 5 and 6 are devoted to an analysis of the von Neumann model of economic expansion, which may be considered as a variant of the dynamic Leontief system. Finally, an Appendix generalizes the classical theorems on non‐negative matrices to systems of non‐linear and homogeneous functions.Less
This book brings together papers that were published by the author in several journals, and which have been revised and contain some new material. The main model carried through the whole book is Leontief's input–output system, which is dynamized from various points of view. Chapter 1 discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system. Chapter 2 is concerned with the stability of the mixed Walras–Leontief system. Chapters 3 and 4 are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. Chapters 5 and 6 are devoted to an analysis of the von Neumann model of economic expansion, which may be considered as a variant of the dynamic Leontief system. Finally, an Appendix generalizes the classical theorems on non‐negative matrices to systems of non‐linear and homogeneous functions.
J. Mohan Rao, Ethan B. Kapstein, and Amartya Sen
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780195130522
- eISBN:
- 9780199867363
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195130529.003.0004
- Subject:
- Economics and Finance, Public and Welfare
Economic and cultural globalization seem to have ushered in an awkward and potentially unstable period of transition for the world. Even if one supposes that free trade and unrestricted capital ...
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Economic and cultural globalization seem to have ushered in an awkward and potentially unstable period of transition for the world. Even if one supposes that free trade and unrestricted capital mobility can eventually result in global factor price equalization and international equality, the transition may take decades if not centuries. At stake are questions of how to distribute the costs incurred, and the benefits to be derived, by cooperative action to create global public goods or minimize global public bads. Questions of equity are also implicated in the origin of the global problems themselves. International negotiations are influenced by unequal economic and bargaining strengths and the diverse stages of development at which nations find themselves.The basic argument of this chapter is that equity and distributional criteria must be at the core of a global public goods framework for international cooperation. There are several reasons behind this. First, equity and justice promote cooperative behavior, itself needed for the provision of public goods. Second, when the system is perceived to be fair and equitable, nations will participate in it willingly. Third, global equity is itself a public good that, without cooperation or coercion (i.e., in a decentralized setting), may be undersupplied. The undersupply may be because, e.g., there is no private market through which nations or individuals may meet their need to give.Thus, the first section of this chapter sets the stage by outlining the continuing role of inequality among nations in shaping the world. The second section considers the potential instrumental value of social cohesion in public goods supply (equity for public goods). After that, the chapter considers how distributional factors affect the demand and supply of public goods. Then, it pursues the proposition (originally from Thurow, 1971) that the distribution of income is itself a public good. The final section offers conclusions. The rest of the chapter illustrates the value of equity for the production of public goods, in the distribution of public goods, and as a public good itself.Less
Economic and cultural globalization seem to have ushered in an awkward and potentially unstable period of transition for the world. Even if one supposes that free trade and unrestricted capital mobility can eventually result in global factor price equalization and international equality, the transition may take decades if not centuries. At stake are questions of how to distribute the costs incurred, and the benefits to be derived, by cooperative action to create global public goods or minimize global public bads. Questions of equity are also implicated in the origin of the global problems themselves. International negotiations are influenced by unequal economic and bargaining strengths and the diverse stages of development at which nations find themselves.
The basic argument of this chapter is that equity and distributional criteria must be at the core of a global public goods framework for international cooperation. There are several reasons behind this. First, equity and justice promote cooperative behavior, itself needed for the provision of public goods. Second, when the system is perceived to be fair and equitable, nations will participate in it willingly. Third, global equity is itself a public good that, without cooperation or coercion (i.e., in a decentralized setting), may be undersupplied. The undersupply may be because, e.g., there is no private market through which nations or individuals may meet their need to give.
Thus, the first section of this chapter sets the stage by outlining the continuing role of inequality among nations in shaping the world. The second section considers the potential instrumental value of social cohesion in public goods supply (equity for public goods). After that, the chapter considers how distributional factors affect the demand and supply of public goods. Then, it pursues the proposition (originally from Thurow, 1971) that the distribution of income is itself a public good. The final section offers conclusions. The rest of the chapter illustrates the value of equity for the production of public goods, in the distribution of public goods, and as a public good itself.
Franklin M. Fisher
- Published in print:
- 2006
- Published Online:
- January 2009
- ISBN:
- 9780199298839
- eISBN:
- 9780191711480
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199298839.003.0010
- Subject:
- Economics and Finance, History of Economic Thought
This chapter draws attention to the topic of stability in the 21st century, for it has not yet reached a ‘satisfactory’ conclusion. When rummaging into the equations of a theory — be it simple supply ...
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This chapter draws attention to the topic of stability in the 21st century, for it has not yet reached a ‘satisfactory’ conclusion. When rummaging into the equations of a theory — be it simple supply and demand equation — one always wants to know its stability properties in order to know the predictive power of models for scientific appraisals. Samuelson likened stability behavior to the soul and mind of business. It encompasses both statics and dynamics analyses, that is, instantaneous or timeless determination of economic variables by mutually interdependent relations. There is a formal dependence between comparative statics and dynamics, namely, the Correspondence Principle. Stability concerns are here to stay. All models of reality call upon them to assess their compatibility. Samuelson has grounded stability in dynamics, which is promising for the 21st century economics.Less
This chapter draws attention to the topic of stability in the 21st century, for it has not yet reached a ‘satisfactory’ conclusion. When rummaging into the equations of a theory — be it simple supply and demand equation — one always wants to know its stability properties in order to know the predictive power of models for scientific appraisals. Samuelson likened stability behavior to the soul and mind of business. It encompasses both statics and dynamics analyses, that is, instantaneous or timeless determination of economic variables by mutually interdependent relations. There is a formal dependence between comparative statics and dynamics, namely, the Correspondence Principle. Stability concerns are here to stay. All models of reality call upon them to assess their compatibility. Samuelson has grounded stability in dynamics, which is promising for the 21st century economics.
Brigitte Granville
- Published in print:
- 2013
- Published Online:
- October 2017
- ISBN:
- 9780691145402
- eISBN:
- 9781400846443
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691145402.003.0006
- Subject:
- Business and Management, Finance, Accounting, and Banking
This chapter examines the relation between monetary and financial stability, looking at possible chains of cause and effect running in both directions between them—from the possibility that an ...
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This chapter examines the relation between monetary and financial stability, looking at possible chains of cause and effect running in both directions between them—from the possibility that an unexpected tightening of monetary policy increases the mean probability of financial system distress, to the general risk of monetary stability being undermined by financial instability. The idea that monetary stability encourages financial instability is controversial. Inflation is often the root cause of financial instability by distorting information flows between lenders and borrowers, leading to asset bubbles and over investment. Most empirical evidence tends to support the view that monetary stability should promote financial stability in the long run and not the other way around. But while monetary stability is a necessary condition for financial stability, it is not a sufficient one. In other words, financial instability can still occur even with the inflation rate under control.Less
This chapter examines the relation between monetary and financial stability, looking at possible chains of cause and effect running in both directions between them—from the possibility that an unexpected tightening of monetary policy increases the mean probability of financial system distress, to the general risk of monetary stability being undermined by financial instability. The idea that monetary stability encourages financial instability is controversial. Inflation is often the root cause of financial instability by distorting information flows between lenders and borrowers, leading to asset bubbles and over investment. Most empirical evidence tends to support the view that monetary stability should promote financial stability in the long run and not the other way around. But while monetary stability is a necessary condition for financial stability, it is not a sufficient one. In other words, financial instability can still occur even with the inflation rate under control.
Joseph V. Femia
- Published in print:
- 1987
- Published Online:
- October 2011
- ISBN:
- 9780198275435
- eISBN:
- 9780191684128
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198275435.001.0001
- Subject:
- Political Science, Political Theory
The unifying idea of Antonio Gramsci's famous Prison Notebooks is the concept of hegemony. In this study of these fragmentary writings this book elucidates the precise character of this concept, ...
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The unifying idea of Antonio Gramsci's famous Prison Notebooks is the concept of hegemony. In this study of these fragmentary writings this book elucidates the precise character of this concept, explores its basic philosophical assumptions, and sets out its implications for Gramsci's explanation of social stability and his vision of the revolutionary process. A number of prevalent and often contradictory myths are demolished, and, moreover, certain neglected aspects of his thought are stressed, including the predominant role he attributed to economic factors, the importance he gave to ‘contradictory consciousness’, and the close connection between his political thinking and his fundamental philosophical premises. The book concludes by critically examining Gramsci's novel solutions to three long-standing problems for Marxist theory: the reasons why the Western working class has not carried out its revolutionary mission; determining the appropriate strategy for a Marxist party working within an advanced capitalist framework; and what are the reasons behind the failure of existing socialist states in their task of liberation?Less
The unifying idea of Antonio Gramsci's famous Prison Notebooks is the concept of hegemony. In this study of these fragmentary writings this book elucidates the precise character of this concept, explores its basic philosophical assumptions, and sets out its implications for Gramsci's explanation of social stability and his vision of the revolutionary process. A number of prevalent and often contradictory myths are demolished, and, moreover, certain neglected aspects of his thought are stressed, including the predominant role he attributed to economic factors, the importance he gave to ‘contradictory consciousness’, and the close connection between his political thinking and his fundamental philosophical premises. The book concludes by critically examining Gramsci's novel solutions to three long-standing problems for Marxist theory: the reasons why the Western working class has not carried out its revolutionary mission; determining the appropriate strategy for a Marxist party working within an advanced capitalist framework; and what are the reasons behind the failure of existing socialist states in their task of liberation?
Rein Taagepera
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199287741
- eISBN:
- 9780191713408
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199287741.003.0017
- Subject:
- Political Science, Democratization
We now expect to be able to fine-tune simple electoral laws to effect party systems and government stability positively, but we still need to be cautious. We should not expect to be able to tailor ...
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We now expect to be able to fine-tune simple electoral laws to effect party systems and government stability positively, but we still need to be cautious. We should not expect to be able to tailor complex electoral laws to desired goals. In institutional design, we need to consider marginal adjustments rather than flipping to completely different electoral laws. We should consider keeping the same electoral laws for at least three elections before changing them. Political science has been an intellectual field separate from politics, but the two may now start to connect, thanks to advances in the study of electoral systems and party systems.Less
We now expect to be able to fine-tune simple electoral laws to effect party systems and government stability positively, but we still need to be cautious. We should not expect to be able to tailor complex electoral laws to desired goals. In institutional design, we need to consider marginal adjustments rather than flipping to completely different electoral laws. We should consider keeping the same electoral laws for at least three elections before changing them. Political science has been an intellectual field separate from politics, but the two may now start to connect, thanks to advances in the study of electoral systems and party systems.
Joseph Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199288144
- eISBN:
- 9780191603884
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199288143.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book discusses the current debates on macroeconomics, capital market liberalization, and development, and develops a new framework within which one can assess alternative policies. The authors ...
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This book discusses the current debates on macroeconomics, capital market liberalization, and development, and develops a new framework within which one can assess alternative policies. The authors share the belief that the Washington consensus has advocated for narrow goals for development (with a focus on price stability), prescribed too few policy instruments (emphasizing monetary and fiscal policies), and places unwarranted faith in the role of markets. The new framework focuses on real stability and long-term sustainable and equitable growth, offers a variety of non-standard ways to stabilize the economy and promote growth, and accepts that market imperfections necessitate government interventions. Economists have traditionally divided their field into macroeconomics and microeconomics, with macroeconomics further divided into stabilization policy and growth. Since most policy discussions and much of the assignment of institutional responsibilities have followed these divisions, policy-makers have pursued stabilization goals with little concern for growth consequences, while trying to increase growth through structural reforms focused on improving economic efficiency. Moreover, structural policies, such as capital market liberalization, have had major consequences for economic stability. This book challenges these divisions by arguing that stabilization policy has important consequences for long-term growth and has often been implemented with adverse consequences. The first part of the book introduces the key questions and looks at the objectives of economic policy from different perspectives. The second part examines the central issues of macroeconomics, presenting an analysis of economic models and policy perspectives on stabilization from conservative, Keynesian, and heterodox perspectives. The third part presents a similar analysis for capital market liberalization (CML).Less
This book discusses the current debates on macroeconomics, capital market liberalization, and development, and develops a new framework within which one can assess alternative policies. The authors share the belief that the Washington consensus has advocated for narrow goals for development (with a focus on price stability), prescribed too few policy instruments (emphasizing monetary and fiscal policies), and places unwarranted faith in the role of markets. The new framework focuses on real stability and long-term sustainable and equitable growth, offers a variety of non-standard ways to stabilize the economy and promote growth, and accepts that market imperfections necessitate government interventions. Economists have traditionally divided their field into macroeconomics and microeconomics, with macroeconomics further divided into stabilization policy and growth. Since most policy discussions and much of the assignment of institutional responsibilities have followed these divisions, policy-makers have pursued stabilization goals with little concern for growth consequences, while trying to increase growth through structural reforms focused on improving economic efficiency. Moreover, structural policies, such as capital market liberalization, have had major consequences for economic stability. This book challenges these divisions by arguing that stabilization policy has important consequences for long-term growth and has often been implemented with adverse consequences. The first part of the book introduces the key questions and looks at the objectives of economic policy from different perspectives. The second part examines the central issues of macroeconomics, presenting an analysis of economic models and policy perspectives on stabilization from conservative, Keynesian, and heterodox perspectives. The third part presents a similar analysis for capital market liberalization (CML).
Gary A. Glatzmaier
- Published in print:
- 2013
- Published Online:
- October 2017
- ISBN:
- 9780691141725
- eISBN:
- 9781400848904
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691141725.003.0003
- Subject:
- Physics, Particle Physics / Astrophysics / Cosmology
This chapter describes a linear stability analysis (that is, solving for the critical Rayleigh number Ra and mode) that allows readers to check their linear codes against the analytic solution. For ...
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This chapter describes a linear stability analysis (that is, solving for the critical Rayleigh number Ra and mode) that allows readers to check their linear codes against the analytic solution. For this linear analysis, each Fourier mode n can be considered a separate and independent problem. The question that needs to be addressed now is under what conditions—that is, what values of Ra, Prandtl number Pr, and aspect ratio a—will the amplitude of the linear solution grow with time for a given mode n. This is a linear stability problem. The chapter first introduces the linear equations before discussing the linear code and explaining how to find the critical Rayleigh number; in other words, the value of Ra for a and Pr that gives a solution that neither grows nor decays with time. It also shows how the linear stability problem can be solved using an analytic approach.Less
This chapter describes a linear stability analysis (that is, solving for the critical Rayleigh number Ra and mode) that allows readers to check their linear codes against the analytic solution. For this linear analysis, each Fourier mode n can be considered a separate and independent problem. The question that needs to be addressed now is under what conditions—that is, what values of Ra, Prandtl number Pr, and aspect ratio a—will the amplitude of the linear solution grow with time for a given mode n. This is a linear stability problem. The chapter first introduces the linear equations before discussing the linear code and explaining how to find the critical Rayleigh number; in other words, the value of Ra for a and Pr that gives a solution that neither grows nor decays with time. It also shows how the linear stability problem can be solved using an analytic approach.
Milada Anna Vachudova
- Published in print:
- 2005
- Published Online:
- April 2005
- ISBN:
- 9780199241194
- eISBN:
- 9780191602382
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199241198.003.0007
- Subject:
- Political Science, European Union
Once the EU developed its active leverage, noncompliance with EU membership requirements became visible and costly for governments in candidate states. This chapter illustrates the effectiveness of ...
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Once the EU developed its active leverage, noncompliance with EU membership requirements became visible and costly for governments in candidate states. This chapter illustrates the effectiveness of the EU’s active leverage in compelling Hungary to moderate its foreign policy towards neighbouring states, and it explores the EU’s vigorous attempts to improve the treatment of ethnic minorities in Romania and Slovakia. The EU’s active leverage was usually ineffective in directly pressuring ruling elites in Romania, Bulgaria, and Slovakia to change key domestic policies. But the relationship between the EU and credible future members gradually changed the domestic balance of power in illiberal states against rent-seeking elites by making the political systems more competitive. It did so by working through society to change the information environment and the institutional environment to the advantage of more liberal political forces. This helped undermine the ‘democratic monopoly’ that had allowed rent-seeking elites to use ethnic nationalism and economic populism to win and maintain power. In states where no united, organized liberal opposition existed before 1989, the EU’s active leverage—in cooperation with other international actors and in synergy with domestic forces—helped to create one, shaping the more liberal political parties that took power in 1996 in Romania, in 1997 in Bulgaria and in 1998 in Romania.Less
Once the EU developed its active leverage, noncompliance with EU membership requirements became visible and costly for governments in candidate states. This chapter illustrates the effectiveness of the EU’s active leverage in compelling Hungary to moderate its foreign policy towards neighbouring states, and it explores the EU’s vigorous attempts to improve the treatment of ethnic minorities in Romania and Slovakia. The EU’s active leverage was usually ineffective in directly pressuring ruling elites in Romania, Bulgaria, and Slovakia to change key domestic policies. But the relationship between the EU and credible future members gradually changed the domestic balance of power in illiberal states against rent-seeking elites by making the political systems more competitive. It did so by working through society to change the information environment and the institutional environment to the advantage of more liberal political forces. This helped undermine the ‘democratic monopoly’ that had allowed rent-seeking elites to use ethnic nationalism and economic populism to win and maintain power. In states where no united, organized liberal opposition existed before 1989, the EU’s active leverage—in cooperation with other international actors and in synergy with domestic forces—helped to create one, shaping the more liberal political parties that took power in 1996 in Romania, in 1997 in Bulgaria and in 1998 in Romania.
Joseph E. Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199288144
- eISBN:
- 9780191603884
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199288143.003.0003
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Despite progress in economic science, important disagreements remain about the conduct of macroeconomic policy. This chapter identifies three broad policy positions (‘conservative’ or ‘neoclassical’, ...
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Despite progress in economic science, important disagreements remain about the conduct of macroeconomic policy. This chapter identifies three broad policy positions (‘conservative’ or ‘neoclassical’, ‘standard Keynesian’, and ‘heterodox’) and looks at the theory and evidence behind each. The approaches differ not only on what they focus, but also in their assumptions concerning the structure and behavior of the economy and the behavior of government. The conservative approach focuses on inflation and deficits, which it attempts to address through tight monetary and restrictive fiscal policy. The standard Keynesian approach is more concerned with unemployment and stagnation, which it attempts to address through expansionary monetary and fiscal policy. The heterodox approach looks for non-standard ways (including the use of microeconomic interventions) to stabilize the economy, stimulate growth and employment, and contain inflation.Less
Despite progress in economic science, important disagreements remain about the conduct of macroeconomic policy. This chapter identifies three broad policy positions (‘conservative’ or ‘neoclassical’, ‘standard Keynesian’, and ‘heterodox’) and looks at the theory and evidence behind each. The approaches differ not only on what they focus, but also in their assumptions concerning the structure and behavior of the economy and the behavior of government. The conservative approach focuses on inflation and deficits, which it attempts to address through tight monetary and restrictive fiscal policy. The standard Keynesian approach is more concerned with unemployment and stagnation, which it attempts to address through expansionary monetary and fiscal policy. The heterodox approach looks for non-standard ways (including the use of microeconomic interventions) to stabilize the economy, stimulate growth and employment, and contain inflation.
Jacinta O'Hagan
- Published in print:
- 2004
- Published Online:
- January 2005
- ISBN:
- 9780199265206
- eISBN:
- 9780191601866
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199265208.003.0013
- Subject:
- Political Science, International Relations and Politics
Considers the relationship between culture and international society, a question that subtly permeates the work of the English School of International Relations. Begins by examining ideas among the ...
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Considers the relationship between culture and international society, a question that subtly permeates the work of the English School of International Relations. Begins by examining ideas among the first wave of English School authors about the role of culture in the formation of international society. Next, it considers assumptions about the relationship between culture and international society to be found among contemporary English School authors. The key issues addressed here include the role that culture plays in establishing order and stability in international society, the role that key institutions of international society play in managing cultural diversity (cultural pluralism), and the relationship between culture and perceptions of equity and justice within international society. Then seeks to draw together discussion of these three cultural issue areas to reflect on their implications for the functioning and cohesion of contemporary international society.Less
Considers the relationship between culture and international society, a question that subtly permeates the work of the English School of International Relations. Begins by examining ideas among the first wave of English School authors about the role of culture in the formation of international society. Next, it considers assumptions about the relationship between culture and international society to be found among contemporary English School authors. The key issues addressed here include the role that culture plays in establishing order and stability in international society, the role that key institutions of international society play in managing cultural diversity (cultural pluralism), and the relationship between culture and perceptions of equity and justice within international society. Then seeks to draw together discussion of these three cultural issue areas to reflect on their implications for the functioning and cohesion of contemporary international society.
Joseph E. Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199288144
- eISBN:
- 9780191603884
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199288143.003.0014
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter concludes the book by reviewing some of the key links between stabilization, liberalization, and growth. The first section reviews why instability is bad for the growth of the economy. ...
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This chapter concludes the book by reviewing some of the key links between stabilization, liberalization, and growth. The first section reviews why instability is bad for the growth of the economy. The second reviews the argument that an excessive focus on price stability, as opposed to stability of output or employment, can be bad for growth. The third argues that excess reliance on monetary policy as a tool for stabilization may be bad for long-run economic growth, and examines the long-run consequences of failing to maintain the economy at as close to full employment as possible. The fourth and final section brings together the various strands of argument put forward in this book by first looking at the issues of liberalization and macroeconomic policy through the lens of risk management, and then discussing the links between stabilization and liberalization, and between growth and poverty.Less
This chapter concludes the book by reviewing some of the key links between stabilization, liberalization, and growth. The first section reviews why instability is bad for the growth of the economy. The second reviews the argument that an excessive focus on price stability, as opposed to stability of output or employment, can be bad for growth. The third argues that excess reliance on monetary policy as a tool for stabilization may be bad for long-run economic growth, and examines the long-run consequences of failing to maintain the economy at as close to full employment as possible. The fourth and final section brings together the various strands of argument put forward in this book by first looking at the issues of liberalization and macroeconomic policy through the lens of risk management, and then discussing the links between stabilization and liberalization, and between growth and poverty.
Richard Youngs
- Published in print:
- 2004
- Published Online:
- January 2005
- ISBN:
- 9780199274468
- eISBN:
- 9780191602030
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199274460.003.0003
- Subject:
- Political Science, Democratization
This chapter examines the evolving positions and actions of multinational corporations in relation to democratic norms. The focus on core rights issues under the Corporate Social Responsibility ...
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This chapter examines the evolving positions and actions of multinational corporations in relation to democratic norms. The focus on core rights issues under the Corporate Social Responsibility agenda was stronger than concerns over democratic trends. Many companies prioritised the autocratic stability and autonomy of elite policymaking structure from civil society pressure, and new investments were not linked to improvements in political freedom.Less
This chapter examines the evolving positions and actions of multinational corporations in relation to democratic norms. The focus on core rights issues under the Corporate Social Responsibility agenda was stronger than concerns over democratic trends. Many companies prioritised the autocratic stability and autonomy of elite policymaking structure from civil society pressure, and new investments were not linked to improvements in political freedom.
