Jerome L. Stein
- Published in print:
- 2006
- Published Online:
- May 2006
- ISBN:
- 9780199280575
- eISBN:
- 9780191603501
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199280576.001.0001
- Subject:
- Economics and Finance, Financial Economics
This book focuses on the interaction between equilibrium real exchange rates, optimal external debt, endogenous optimal growth, and current account balances in a world of uncertainty. The theoretical ...
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This book focuses on the interaction between equilibrium real exchange rates, optimal external debt, endogenous optimal growth, and current account balances in a world of uncertainty. The theoretical parts result from interdisciplinary research between economics and state of the art applied mathematics. From the economic theory and the mathematics of stochastic optimal control, benchmarks are derived for the optimal debt and equilibrium real exchange rate in an environment where both the return on capital and the real rate of interest are stochastic variables. The theoretically derived equilibrium real exchange rate — the natural real exchange rate (NATREX) — is where the real exchange rate is heading. These benchmarks are applied to answer the following questions: What is a theoretically based empirical measure of a “misaligned” exchange rate that increases the probability of a significant depreciation or a currency crisis? What is a theoretically based empirical measure of an “excess” debt that increases the probability of a debt crisis? What is the interaction between an excess debt and a misaligned exchange rate? The theory is applied to evaluate the Euro exchange rate, the exchange rates of the transition economies of Eastern Europe, the sustainability of U.S. current account deficits, and derives warning signals of the Asian crises, defaults, and debt crises in emerging markets.Less
This book focuses on the interaction between equilibrium real exchange rates, optimal external debt, endogenous optimal growth, and current account balances in a world of uncertainty. The theoretical parts result from interdisciplinary research between economics and state of the art applied mathematics. From the economic theory and the mathematics of stochastic optimal control, benchmarks are derived for the optimal debt and equilibrium real exchange rate in an environment where both the return on capital and the real rate of interest are stochastic variables. The theoretically derived equilibrium real exchange rate — the natural real exchange rate (NATREX) — is where the real exchange rate is heading. These benchmarks are applied to answer the following questions: What is a theoretically based empirical measure of a “misaligned” exchange rate that increases the probability of a significant depreciation or a currency crisis? What is a theoretically based empirical measure of an “excess” debt that increases the probability of a debt crisis? What is the interaction between an excess debt and a misaligned exchange rate? The theory is applied to evaluate the Euro exchange rate, the exchange rates of the transition economies of Eastern Europe, the sustainability of U.S. current account deficits, and derives warning signals of the Asian crises, defaults, and debt crises in emerging markets.
David Armstrong
- Published in print:
- 1993
- Published Online:
- November 2003
- ISBN:
- 9780198275282
- eISBN:
- 9780191598739
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198275285.001.0001
- Subject:
- Political Science, International Relations and Politics
This study examines the impact of revolutionary states upon international society. These states have always posed major problems for the achievement of world order: revolution is often accompanied by ...
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This study examines the impact of revolutionary states upon international society. These states have always posed major problems for the achievement of world order: revolution is often accompanied by international as well as civil conflict, while revolutionary doctrines have proven to be highly disruptive of the existing structure of international politics. Conversely, the prevailing international order presents fundamental difficulties for some revolutionary states. The belief system on which its revolution was founded and which legitimized the assumption of state power by the revolutionary elite is certain to run counter to the prevailing political doctrines of many other states. David Armstrong asks whether revolutionary states are ‘socialized’ into adopting acceptable patterns of international behaviour, or whether it is the international society that is forced to change when these new states appear. He looks in detail at the French, American, and Russian revolutions and at several post‐1945 revolutionary states. He also examines the relationship between revolutionary states and the principal ordering devices of an international society: international law, diplomacy, and the balance of power. His book is a significant contribution to the ‘English School’ literature, whose central concept is that of an international society. It shows how the interaction between revolutionary states and the established norms, rules, and institutions of international society works to produce change in both the revolutionary state and international society itself. As such it elucidates the dynamic aspects of international society.Less
This study examines the impact of revolutionary states upon international society. These states have always posed major problems for the achievement of world order: revolution is often accompanied by international as well as civil conflict, while revolutionary doctrines have proven to be highly disruptive of the existing structure of international politics. Conversely, the prevailing international order presents fundamental difficulties for some revolutionary states. The belief system on which its revolution was founded and which legitimized the assumption of state power by the revolutionary elite is certain to run counter to the prevailing political doctrines of many other states. David Armstrong asks whether revolutionary states are ‘socialized’ into adopting acceptable patterns of international behaviour, or whether it is the international society that is forced to change when these new states appear. He looks in detail at the French, American, and Russian revolutions and at several post‐1945 revolutionary states. He also examines the relationship between revolutionary states and the principal ordering devices of an international society: international law, diplomacy, and the balance of power. His book is a significant contribution to the ‘English School’ literature, whose central concept is that of an international society. It shows how the interaction between revolutionary states and the established norms, rules, and institutions of international society works to produce change in both the revolutionary state and international society itself. As such it elucidates the dynamic aspects of international society.
Alicia Hinarejos
- Published in print:
- 2009
- Published Online:
- May 2010
- ISBN:
- 9780199569960
- eISBN:
- 9780191721977
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199569960.001.0001
- Subject:
- Law, EU Law
The EU's activity under its intergovernmental pillars — The Common Foreign and Security Policy and Justice and Home Affairs — has traditionally been beyond the scope of judicial control offered by ...
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The EU's activity under its intergovernmental pillars — The Common Foreign and Security Policy and Justice and Home Affairs — has traditionally been beyond the scope of judicial control offered by the central EC legal system. The increasing importance of this activity, and its growing intrusion into the lives of individuals, has led to a sense that the level of judicial oversight and protection is insufficient and that the constitutional balance of the Union stands in urgent need of reform. While the need for reform is widely recognised, wholesale constitutional change has been stalled by the failure to ratify the Constitutional Treaty and the delay in ratifying the Treaty of Lisbon. This book charts the attempts to develop more satisfactory judicial control over the intergovernmental pillars in the face of such constitutional inertia. It examines the leading role played by the European Court of Justice in reforming its own jurisdiction, and analyses the ECJ's development as a constitutional court in comparison with more established constitutional adjudicators. Throughout the book the current constitutional position is compared extensively to the reforms introduced by the Treaty of Lisbon, offering a timely snapshot of the EU's federal structure in a state of flux.Less
The EU's activity under its intergovernmental pillars — The Common Foreign and Security Policy and Justice and Home Affairs — has traditionally been beyond the scope of judicial control offered by the central EC legal system. The increasing importance of this activity, and its growing intrusion into the lives of individuals, has led to a sense that the level of judicial oversight and protection is insufficient and that the constitutional balance of the Union stands in urgent need of reform. While the need for reform is widely recognised, wholesale constitutional change has been stalled by the failure to ratify the Constitutional Treaty and the delay in ratifying the Treaty of Lisbon. This book charts the attempts to develop more satisfactory judicial control over the intergovernmental pillars in the face of such constitutional inertia. It examines the leading role played by the European Court of Justice in reforming its own jurisdiction, and analyses the ECJ's development as a constitutional court in comparison with more established constitutional adjudicators. Throughout the book the current constitutional position is compared extensively to the reforms introduced by the Treaty of Lisbon, offering a timely snapshot of the EU's federal structure in a state of flux.
Valerie Tiberius
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199202867
- eISBN:
- 9780191707988
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199202867.001.0001
- Subject:
- Philosophy, Moral Philosophy
How should you live? Should you devote yourself to perfecting a single talent or try to live a balanced life? Should you lighten up and have more fun, or buckle down and try to achieve greatness? ...
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How should you live? Should you devote yourself to perfecting a single talent or try to live a balanced life? Should you lighten up and have more fun, or buckle down and try to achieve greatness? Should you try to be a better friend? Should you be self-critical or self-accepting? And how should you decide among the possibilities open to you? Should you consult experts, listen to your parents, or should you do lots of research? Should you make lists of pros and cons, or go with your gut? These are not questions that can be answered in general or in the abstract. Rather, these questions are addressed to the first person point of view, to the perspective each of us occupies when we reflect on how to live without knowing exactly what we're aiming for. To answer them, this book focuses on the process of living one's life from the inside, rather than on defining goals from the outside. Drawing on traditional philosophical sources as well as literature and recent work in social psychology, this book argues that to live well, we need to develop reflective wisdom: to care about things that will sustain us and give us good experiences, to have perspective on our successes and failures, and to be moderately self-aware and cautiously optimistic about human nature. Further, we need to know when to think about our values, character, and choices, and when not to. A crucial part of wisdom, the book maintains, is being able to shift perspectives: to be self-critical; to be realistic; to examine life when reflection is appropriate, but not when we should lose ourselves in experience.Less
How should you live? Should you devote yourself to perfecting a single talent or try to live a balanced life? Should you lighten up and have more fun, or buckle down and try to achieve greatness? Should you try to be a better friend? Should you be self-critical or self-accepting? And how should you decide among the possibilities open to you? Should you consult experts, listen to your parents, or should you do lots of research? Should you make lists of pros and cons, or go with your gut? These are not questions that can be answered in general or in the abstract. Rather, these questions are addressed to the first person point of view, to the perspective each of us occupies when we reflect on how to live without knowing exactly what we're aiming for. To answer them, this book focuses on the process of living one's life from the inside, rather than on defining goals from the outside. Drawing on traditional philosophical sources as well as literature and recent work in social psychology, this book argues that to live well, we need to develop reflective wisdom: to care about things that will sustain us and give us good experiences, to have perspective on our successes and failures, and to be moderately self-aware and cautiously optimistic about human nature. Further, we need to know when to think about our values, character, and choices, and when not to. A crucial part of wisdom, the book maintains, is being able to shift perspectives: to be self-critical; to be realistic; to examine life when reflection is appropriate, but not when we should lose ourselves in experience.
Alfred Greiner and Willi Semmler
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195328233
- eISBN:
- 9780199869985
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195328233.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter describes scientific knowledge concerning greenhouse gas (GHG) emissions and the change in global average surface temperature. It considers the climate system of the Earth is in terms of ...
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This chapter describes scientific knowledge concerning greenhouse gas (GHG) emissions and the change in global average surface temperature. It considers the climate system of the Earth is in terms of its global energy balance using so-called energy balance models (EBM).Less
This chapter describes scientific knowledge concerning greenhouse gas (GHG) emissions and the change in global average surface temperature. It considers the climate system of the Earth is in terms of its global energy balance using so-called energy balance models (EBM).
Takashi Fujimoto
- Published in print:
- 2004
- Published Online:
- September 2007
- ISBN:
- 9780198530282
- eISBN:
- 9780191713149
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198530282.001.0001
- Subject:
- Physics, Nuclear and Plasma Physics
This book presents a theoretical framework of plasma spectroscopy, in which the observed spectral line intensities or the populations of excited levels of atoms or ions immersed in plasma are ...
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This book presents a theoretical framework of plasma spectroscopy, in which the observed spectral line intensities or the populations of excited levels of atoms or ions immersed in plasma are interpreted in terms of the characteristics of the plasma. Following a review of important atomic processes in plasma, the rate equation governing the populations in excited levels and the ground state is solved in the collisional-radiative model. In this model, plasmas are classified into the ionizing plasma and the recombining plasma. Various features of these plasmas are examined. Ionization and recombination of atoms and ions are also treated in the model. An emission-line intensity is proportional to the ionization flux or to the recombination flux, and thus the ionization-balance plasma produces less intense emission lines. The recombination continuum intensity continues smoothly to the series lines, originating from levels in local thermodynamic equilibrium, so that the Boltzmann plot of the population of these levels is extended to the continuum-state electrons. Line broadening mechanisms are discussed, including the Stark broadening. Radiation transport gives rise to a modification to the emission line profile and to an effective decrease in the transition probability; the latter problem is treated in two alternative approaches. Phenomena characteristic of dense plasma are discussed, including the excitation and deexcitation processes of ions involving doubly excited levels and a modification to the Saha relationship.Less
This book presents a theoretical framework of plasma spectroscopy, in which the observed spectral line intensities or the populations of excited levels of atoms or ions immersed in plasma are interpreted in terms of the characteristics of the plasma. Following a review of important atomic processes in plasma, the rate equation governing the populations in excited levels and the ground state is solved in the collisional-radiative model. In this model, plasmas are classified into the ionizing plasma and the recombining plasma. Various features of these plasmas are examined. Ionization and recombination of atoms and ions are also treated in the model. An emission-line intensity is proportional to the ionization flux or to the recombination flux, and thus the ionization-balance plasma produces less intense emission lines. The recombination continuum intensity continues smoothly to the series lines, originating from levels in local thermodynamic equilibrium, so that the Boltzmann plot of the population of these levels is extended to the continuum-state electrons. Line broadening mechanisms are discussed, including the Stark broadening. Radiation transport gives rise to a modification to the emission line profile and to an effective decrease in the transition probability; the latter problem is treated in two alternative approaches. Phenomena characteristic of dense plasma are discussed, including the excitation and deexcitation processes of ions involving doubly excited levels and a modification to the Saha relationship.
Jerome L. Stein
- Published in print:
- 2006
- Published Online:
- May 2006
- ISBN:
- 9780199280575
- eISBN:
- 9780191603501
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199280576.003.0004
- Subject:
- Economics and Finance, Financial Economics
The NATREX is a model of the equilibrium real exchange rate, which is where the real exchange rate is heading. The NATREX model has two components: the long-run equilibrium real exchange rate and the ...
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The NATREX is a model of the equilibrium real exchange rate, which is where the real exchange rate is heading. The NATREX model has two components: the long-run equilibrium real exchange rate and the dynamics of adjustment of the medium-run equilibrium to the long-run equilibrium. In the medium-run equilibrium, the ratio of the external debt/GDP is predetermined, and the real exchange rate is associated with both internal and external balance. The real exchange rate and debt ratio are endogenous variables. In full stock-flow equilibrium, the long run equilibrium real exchange rate and external debt ratio depend upon the vector of time varying fundamentals, which are productivity and thrift in the country relative to the rest of the world.Less
The NATREX is a model of the equilibrium real exchange rate, which is where the real exchange rate is heading. The NATREX model has two components: the long-run equilibrium real exchange rate and the dynamics of adjustment of the medium-run equilibrium to the long-run equilibrium. In the medium-run equilibrium, the ratio of the external debt/GDP is predetermined, and the real exchange rate is associated with both internal and external balance. The real exchange rate and debt ratio are endogenous variables. In full stock-flow equilibrium, the long run equilibrium real exchange rate and external debt ratio depend upon the vector of time varying fundamentals, which are productivity and thrift in the country relative to the rest of the world.
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:
- 10.1093/0199288143.003.0007
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter looks at exchange rate management and other policy options for an open economy. It begins with an introductory discussion of overall macroeconomic management for open economies, ...
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This chapter looks at exchange rate management and other policy options for an open economy. It begins with an introductory discussion of overall macroeconomic management for open economies, including the issues of internal and external balance and inflation targeting. It then examines how countries can attempt to manage the exchange rate. Topics covered in this section include the benefits of maintaining an undervalued exchange rate in some developing countries, government interventions to smooth out exchange rate fluctuations, and the trade-off between stability and flexibility when choosing an exchange rate regime. The chapter concludes with an analysis of other policy options in open economies, including heterodox microeconomic interventions, public sector liability management, and debt restructuring.Less
This chapter looks at exchange rate management and other policy options for an open economy. It begins with an introductory discussion of overall macroeconomic management for open economies, including the issues of internal and external balance and inflation targeting. It then examines how countries can attempt to manage the exchange rate. Topics covered in this section include the benefits of maintaining an undervalued exchange rate in some developing countries, government interventions to smooth out exchange rate fluctuations, and the trade-off between stability and flexibility when choosing an exchange rate regime. The chapter concludes with an analysis of other policy options in open economies, including heterodox microeconomic interventions, public sector liability management, and debt restructuring.
Erich Vranes
- Published in print:
- 2009
- Published Online:
- May 2009
- ISBN:
- 9780199562787
- eISBN:
- 9780191705366
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199562787.003.0001
- Subject:
- Law, Public International Law, EU Law
This introductory chapter provides an overview of the main questions examined in this book. It argues that there are three sets of questions which demarcate the so-called ‘trade and environment’ ...
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This introductory chapter provides an overview of the main questions examined in this book. It argues that there are three sets of questions which demarcate the so-called ‘trade and environment’ nexus: The first set of questions concerns the relationship between WTO law, multilateral environmental agreements, and non-WTO law more generally. This brings into play the issue of conflict of norms, the legal status of the lex specialis principle and similar legal maxims, and the concepts jurisdiction and applicable law in WTO dispute settlement. A second set of questions is related to the disputed concepts of extraterritorial jurisdiction and unilateral state action. A third group of issues concerns the scope and contents of relevant WTO disciplines. In this respect, this book examines the basic principles governing the General Agreement on Tariffs and Trade (GATT) and the Agreement on Technical Barriers to Trade (TBT Agreement).Less
This introductory chapter provides an overview of the main questions examined in this book. It argues that there are three sets of questions which demarcate the so-called ‘trade and environment’ nexus: The first set of questions concerns the relationship between WTO law, multilateral environmental agreements, and non-WTO law more generally. This brings into play the issue of conflict of norms, the legal status of the lex specialis principle and similar legal maxims, and the concepts jurisdiction and applicable law in WTO dispute settlement. A second set of questions is related to the disputed concepts of extraterritorial jurisdiction and unilateral state action. A third group of issues concerns the scope and contents of relevant WTO disciplines. In this respect, this book examines the basic principles governing the General Agreement on Tariffs and Trade (GATT) and the Agreement on Technical Barriers to Trade (TBT Agreement).
Andreas Osiander
- Published in print:
- 1994
- Published Online:
- October 2011
- ISBN:
- 9780198278870
- eISBN:
- 9780191684258
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198278870.001.0001
- Subject:
- Political Science, International Relations and Politics
This book looks at the four major European peace congresses: Munster and Osnabrück (1644–1648), Utrecht (1712–1715), Vienna (1814–1815), and Paris (1919–1920) and shows how a prevailing consensus on ...
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This book looks at the four major European peace congresses: Munster and Osnabrück (1644–1648), Utrecht (1712–1715), Vienna (1814–1815), and Paris (1919–1920) and shows how a prevailing consensus on certain structural concepts — such as the balance of power or national self-determination — has influenced the evolution of the system and determined its stability or lack of stability. It argues that the structure of the international system is neither a given quantity nor determined primarily by conflict between international actors, but essentially the result of a general agreement expressed in ‘consensus principles’; these influence the identity of the international actors, their relative status, and the distribution of populations and territories between them. The book concludes with a review of the period since 1920.Less
This book looks at the four major European peace congresses: Munster and Osnabrück (1644–1648), Utrecht (1712–1715), Vienna (1814–1815), and Paris (1919–1920) and shows how a prevailing consensus on certain structural concepts — such as the balance of power or national self-determination — has influenced the evolution of the system and determined its stability or lack of stability. It argues that the structure of the international system is neither a given quantity nor determined primarily by conflict between international actors, but essentially the result of a general agreement expressed in ‘consensus principles’; these influence the identity of the international actors, their relative status, and the distribution of populations and territories between them. The book concludes with a review of the period since 1920.
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/9780199287741.003.0004
- Subject:
- Political Science, Democratization
When some parties have many seats and some have few, we need a meaningful ‘effective’ number of parties so as to compare the effects of electoral systems on party systems. The standard way to express ...
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When some parties have many seats and some have few, we need a meaningful ‘effective’ number of parties so as to compare the effects of electoral systems on party systems. The standard way to express the effective number of parties is to convert to fractional seat shares, square them, add, and take the inverse. The same can be done with fractional vote shares. This method is not ideal, but all others are worse. Effective number of parties can be complemented by a measure of balance in party sizes.Less
When some parties have many seats and some have few, we need a meaningful ‘effective’ number of parties so as to compare the effects of electoral systems on party systems. The standard way to express the effective number of parties is to convert to fractional seat shares, square them, add, and take the inverse. The same can be done with fractional vote shares. This method is not ideal, but all others are worse. Effective number of parties can be complemented by a measure of balance in party sizes.
Andrew Kuper
- Published in print:
- 2004
- Published Online:
- November 2004
- ISBN:
- 9780199274901
- eISBN:
- 9780191601552
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199274908.001.0001
- Subject:
- Political Science, International Relations and Politics
Global organizations are exercising unprecedented power–from the hallowed halls of the UN to the closed boardrooms of multinational corporations. Yet their leaders are often scandalously ...
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Global organizations are exercising unprecedented power–from the hallowed halls of the UN to the closed boardrooms of multinational corporations. Yet their leaders are often scandalously unaccountable to the people they claim to serve. How can we ensure that global leaders act responsively, and effectively, in the interests of the world’s people? In this lucid and provocative book, Andrew Kuper develops persuasive and practical answers.Democracy Beyond Borders criticizes conventional theories of justice and democracy that focus almost exclusively on the state and its electoral cycles. Kuper shows how non-state actors, such as corporations and civil society advocates, can be brought into multi-level government as partners with states. He presents an original theory of representation to answer the problem of accountability. At the core of this vision is a new separation of powers, in which different global actors check and balance one another in a complex harmony. This innovative framework complements electoral accountability and enables Kuper to recommend far-reaching reforms to the World Courts, the UN, and advocacy agencies including Transparency International.Democracy Beyond Borders stands at the forefront of a new generation of political thought, for which globalization is the challenge and deepening democracy the solution.Less
Global organizations are exercising unprecedented power–from the hallowed halls of the UN to the closed boardrooms of multinational corporations. Yet their leaders are often scandalously unaccountable to the people they claim to serve. How can we ensure that global leaders act responsively, and effectively, in the interests of the world’s people? In this lucid and provocative book, Andrew Kuper develops persuasive and practical answers.Democracy Beyond Borders criticizes conventional theories of justice and democracy that focus almost exclusively on the state and its electoral cycles. Kuper shows how non-state actors, such as corporations and civil society advocates, can be brought into multi-level government as partners with states. He presents an original theory of representation to answer the problem of accountability. At the core of this vision is a new separation of powers, in which different global actors check and balance one another in a complex harmony. This innovative framework complements electoral accountability and enables Kuper to recommend far-reaching reforms to the World Courts, the UN, and advocacy agencies including Transparency International.Democracy Beyond Borders stands at the forefront of a new generation of political thought, for which globalization is the challenge and deepening democracy the solution.
Luiz Carlos Bresser-Pereira
- Published in print:
- 2004
- Published Online:
- November 2004
- ISBN:
- 9780199261185
- eISBN:
- 9780191601507
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199261180.003.0008
- Subject:
- Political Science, Democratization
Globalization is a historical economic process that is creating a global system, an economic and political system whose central institutions, besides the classic nation-states, are the UN and the ...
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Globalization is a historical economic process that is creating a global system, an economic and political system whose central institutions, besides the classic nation-states, are the UN and the legal system built around it. While in the balance of powers diplomacy, which existed following the formation of the modern state and particularly following the Westphalia treaties, major nation-states disputed territories and viewed each other as enemies to be threatened with wars, in the new global system countries are economic adversaries competing in world markets. Globalization is the generalized competition for world markets among business enterprises, supported by their respective nation-states. Thus, although nation-states became more interdependent, they also became more strategic.Less
Globalization is a historical economic process that is creating a global system, an economic and political system whose central institutions, besides the classic nation-states, are the UN and the legal system built around it. While in the balance of powers diplomacy, which existed following the formation of the modern state and particularly following the Westphalia treaties, major nation-states disputed territories and viewed each other as enemies to be threatened with wars, in the new global system countries are economic adversaries competing in world markets. Globalization is the generalized competition for world markets among business enterprises, supported by their respective nation-states. Thus, although nation-states became more interdependent, they also became more strategic.
Roger Undy
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199544943
- eISBN:
- 9780191719936
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199544943.003.0007
- Subject:
- Business and Management, HRM / IR
Amalgamating partners' negotiating powers are taken to be a function of their interdependence. On this basis, the amalgamations studied are divided into three groups: dominant partner unions' ...
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Amalgamating partners' negotiating powers are taken to be a function of their interdependence. On this basis, the amalgamations studied are divided into three groups: dominant partner unions' negotiations conducted under competitive conditions; dominant partners unions' negotiations in the absence of competitive bids; and balanced partner unions' negotiations in the absence of competitive bids. Dominant partner amalgamation negotiations are found to be similar to transfer negotiations. In contrast, balanced partner amalgamation negotiations are more complex and generally provide the opportunity to transform the partner unions' internal organization.Less
Amalgamating partners' negotiating powers are taken to be a function of their interdependence. On this basis, the amalgamations studied are divided into three groups: dominant partner unions' negotiations conducted under competitive conditions; dominant partners unions' negotiations in the absence of competitive bids; and balanced partner unions' negotiations in the absence of competitive bids. Dominant partner amalgamation negotiations are found to be similar to transfer negotiations. In contrast, balanced partner amalgamation negotiations are more complex and generally provide the opportunity to transform the partner unions' internal organization.
Roger Undy
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199544943
- eISBN:
- 9780191719936
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199544943.003.0008
- Subject:
- Business and Management, HRM / IR
Dominant‐partner amalgamations are briefly discussed before focusing on balanced‐partner amalgamations. The outcomes of dominant‐partner amalgamations are similar to those generated by transfers. In ...
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Dominant‐partner amalgamations are briefly discussed before focusing on balanced‐partner amalgamations. The outcomes of dominant‐partner amalgamations are similar to those generated by transfers. In contrast, balanced‐partner amalgamations generally have a more marked effect on both the new unions' external relations with employers and its internal organization. However, the context may limit the amalgamated unions' abilities to exercise any increase gained in latent collective bargaining power. Internally, the balanced‐partner amalgamations vary considerably in their reforming effects: some have positive outcomes, while others generate unintended and politically destabilizing consequences.Less
Dominant‐partner amalgamations are briefly discussed before focusing on balanced‐partner amalgamations. The outcomes of dominant‐partner amalgamations are similar to those generated by transfers. In contrast, balanced‐partner amalgamations generally have a more marked effect on both the new unions' external relations with employers and its internal organization. However, the context may limit the amalgamated unions' abilities to exercise any increase gained in latent collective bargaining power. Internally, the balanced‐partner amalgamations vary considerably in their reforming effects: some have positive outcomes, while others generate unintended and politically destabilizing consequences.
Peter Taylor-Gooby
- Published in print:
- 2004
- Published Online:
- January 2005
- ISBN:
- 9780199267262
- eISBN:
- 9780191602023
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019926726X.003.0001
- Subject:
- Political Science, Political Economy
New social risks have emerged in relation to work‐life balance and securing a position in a more flexible labour market across Europe. Policy responses often involve the aspiration of ‘transforming ...
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New social risks have emerged in relation to work‐life balance and securing a position in a more flexible labour market across Europe. Policy responses often involve the aspiration of ‘transforming vice into virtue’ by reducing welfare state spending and at the same time increasing productivity. This is to be achieved by childcare and elder‐care policies and active labour market polices that get more women and unemployed people into paid work. It is difficult for governments and other policy actors to find large groups of voters who support these policies and reform typically involves compromise. However, the new social risk analysis is a corrective to the typical retrenchment analysis of old social risks such as pensions.Less
New social risks have emerged in relation to work‐life balance and securing a position in a more flexible labour market across Europe. Policy responses often involve the aspiration of ‘transforming vice into virtue’ by reducing welfare state spending and at the same time increasing productivity. This is to be achieved by childcare and elder‐care policies and active labour market polices that get more women and unemployed people into paid work. It is difficult for governments and other policy actors to find large groups of voters who support these policies and reform typically involves compromise. However, the new social risk analysis is a corrective to the typical retrenchment analysis of old social risks such as pensions.
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:
- 10.1093/0199288143.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter begins with the idea that at the most general level, the goal of economic policy is to maximize long-term societal well-being in an equitable and sustainable manner. It addresses in ...
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This chapter begins with the idea that at the most general level, the goal of economic policy is to maximize long-term societal well-being in an equitable and sustainable manner. It addresses in detail the meaning and relevance of the goals of economic policy that are often put forward — from enhancing economic security and reducing unemployment, to reducing inflation, enhancing growth, and maintaining external balance. It also examines the link between stability and growth, and between short-term growth and sustainable growth. More specifically, the chapter critiques the narrow focus of the Washington consensus on price stability and emphasizes that economists should, instead, focus on long-term sustainable growth. The chapter concludes by highlighting the broader social consequences that choosing alternative economic policies may have and by emphasizing that all economic policies have trade-offs.Less
This chapter begins with the idea that at the most general level, the goal of economic policy is to maximize long-term societal well-being in an equitable and sustainable manner. It addresses in detail the meaning and relevance of the goals of economic policy that are often put forward — from enhancing economic security and reducing unemployment, to reducing inflation, enhancing growth, and maintaining external balance. It also examines the link between stability and growth, and between short-term growth and sustainable growth. More specifically, the chapter critiques the narrow focus of the Washington consensus on price stability and emphasizes that economists should, instead, focus on long-term sustainable growth. The chapter concludes by highlighting the broader social consequences that choosing alternative economic policies may have and by emphasizing that all economic policies have trade-offs.
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.
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:
- 10.1093/0199288143.003.0006
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter extends the analysis of the previous chapter to an open economy by introducing exchange rate policy; analyzing the complex relationships between exchange rate, fiscal, and monetary ...
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This chapter extends the analysis of the previous chapter to an open economy by introducing exchange rate policy; analyzing the complex relationships between exchange rate, fiscal, and monetary policies; and examining the ways in which capital flows complicate traditional analyses. Despite the greater complexities associated with open economy macroeconomics, the policy conclusions for a closed economy remain remarkably unaffected. While Keynesians and heterodox economists believe that government should actively intervene, conservatives remain skeptical about the desirability of such interventions. The objective of this chapter is to shed some light on how economists can come to such diverse views on economic policy. The first section examines the macroeconomic effects of exchange rates on employment, trade, inflation, aggregate demand, growth, and balance sheets. The second section examines the complex interactions between fiscal, monetary, and exchange rate policies in open economies with either fixed or flexible exchange rate regimes. This section also examines the effects of interest rates and exchange rates on capital flows in both crisis and non-crisis situations.Less
This chapter extends the analysis of the previous chapter to an open economy by introducing exchange rate policy; analyzing the complex relationships between exchange rate, fiscal, and monetary policies; and examining the ways in which capital flows complicate traditional analyses. Despite the greater complexities associated with open economy macroeconomics, the policy conclusions for a closed economy remain remarkably unaffected. While Keynesians and heterodox economists believe that government should actively intervene, conservatives remain skeptical about the desirability of such interventions. The objective of this chapter is to shed some light on how economists can come to such diverse views on economic policy. The first section examines the macroeconomic effects of exchange rates on employment, trade, inflation, aggregate demand, growth, and balance sheets. The second section examines the complex interactions between fiscal, monetary, and exchange rate policies in open economies with either fixed or flexible exchange rate regimes. This section also examines the effects of interest rates and exchange rates on capital flows in both crisis and non-crisis situations.
Alexandra Barahona de Brito
- Published in print:
- 1997
- Published Online:
- November 2003
- ISBN:
- 9780198280385
- eISBN:
- 9780191598852
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198280386.001.0001
- Subject:
- Political Science, Democratization
This book analyses the Uruguayan and Chilean experiences with the transitional politics of truth and justice regarding past human rights violations. These policies are shaped by the legacy of ...
More
This book analyses the Uruguayan and Chilean experiences with the transitional politics of truth and justice regarding past human rights violations. These policies are shaped by the legacy of repressive rule, and the dynamics of the politics of transition and of the balance of power under the new democratic governments peculiar to each country. The issue is central to the politics of transition for ethical, symbolic, practical and political reasons: politically it is the most explosive transitional issue; on a practical level, only official acknowledgement can resolve pending legal questions for survivors and families of victims; ethically, it is hard to generate democratic consensus or social endorsement for social reform without involving principles and ideals that appeal to the underlying values and aspirations of the citizenry. Dealing with legacies of state repression permits the beginning of the process of ‘deconstruction of cultures of fear’ without which democratization cannot occur. This is not only desirable and necessary; some kind of truth telling policy has proved to be both required and feasible in a wide range of contemporary regime transitions. However, justice is not always possible: limitations on prosecutions are more self-imposed than 'structural', more political than institutional, and clearly there is a tension between the conditions necessary to ensure accountability and those that govern periods of transition. Unconsolidated democracies are not able to practise the politics of a consolidated democracy; the politics of consolidated democracies includes the capacity to call the powerful to account. This is perhaps the yardstick with which to measure consolidation. Instead of practising the politics of consolidated democracy, what these countries have to engage in is the politics of democratic consolidation. Although truth and justice policies may remain relevant after the transition and 'leak into' the politics of democratization, (where they can continue to be a source of conflict in the judicial system and of latent or overt painful and deep-seated social animosities), the resolution of the issue in the formal political arena can and does make it marginal in terms of day-to-day politics. Consolidation depends more crucially on the reform of key institutions that permitted abuse and impunity: the thorough reform of the judiciary and of the forces of repression. If a government does not undertake a proper reform of the institutions that made abuse and impunity possible, the democracy it presides over will be lame and incomplete.Less
This book analyses the Uruguayan and Chilean experiences with the transitional politics of truth and justice regarding past human rights violations. These policies are shaped by the legacy of repressive rule, and the dynamics of the politics of transition and of the balance of power under the new democratic governments peculiar to each country. The issue is central to the politics of transition for ethical, symbolic, practical and political reasons: politically it is the most explosive transitional issue; on a practical level, only official acknowledgement can resolve pending legal questions for survivors and families of victims; ethically, it is hard to generate democratic consensus or social endorsement for social reform without involving principles and ideals that appeal to the underlying values and aspirations of the citizenry. Dealing with legacies of state repression permits the beginning of the process of ‘deconstruction of cultures of fear’ without which democratization cannot occur. This is not only desirable and necessary; some kind of truth telling policy has proved to be both required and feasible in a wide range of contemporary regime transitions. However, justice is not always possible: limitations on prosecutions are more self-imposed than 'structural', more political than institutional, and clearly there is a tension between the conditions necessary to ensure accountability and those that govern periods of transition. Unconsolidated democracies are not able to practise the politics of a consolidated democracy; the politics of consolidated democracies includes the capacity to call the powerful to account. This is perhaps the yardstick with which to measure consolidation. Instead of practising the politics of consolidated democracy, what these countries have to engage in is the politics of democratic consolidation. Although truth and justice policies may remain relevant after the transition and 'leak into' the politics of democratization, (where they can continue to be a source of conflict in the judicial system and of latent or overt painful and deep-seated social animosities), the resolution of the issue in the formal political arena can and does make it marginal in terms of day-to-day politics. Consolidation depends more crucially on the reform of key institutions that permitted abuse and impunity: the thorough reform of the judiciary and of the forces of repression. If a government does not undertake a proper reform of the institutions that made abuse and impunity possible, the democracy it presides over will be lame and incomplete.
