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Monetary Policy in Times of Crisis
The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.
Preferred Habitat and Monetary Policy Through the Looking-glass
The ability of monetary policy to influence the term structure of interest rates and the macroeconomy depends on the extent to which financial market participants prefer to hold bonds of different maturities. We microfound such preferred-habitat demand in a fully-specified dynamic stochastic general equilibrium model of the macroeconomy where the term structure is arbitrage-free. The source of preferred habitat demand is an insurance fund that issues annuities and adopts a liability-driven strategy to minimise the duration risk on its balance sheet. The optimising behaviour of the insurance fund implies a preferred-habitat demand function that is upward-sloping in bond prices and downward-sl...
Mussolini Unleashed, 1939-1941
This book explores the motives, preparation, objectives, contact and consequences of Italy's war of 1940, which ended the country's role as a great power and reduced it to the status of first among Germany's satellites. What Professor Knox demonstrates is the limits of Mussolini's power. In particular, thanks to exhaustive research in the relevant archives, he has been able to throw important new light on Mussolini's relations with his military advisers and commanders.
The Deceivers
In World War II, the Allies employed unprecedented methods and practiced the most successful military deception ever seen, meticulously feeding misinformation to Axis intelligence to lead Axis commanders into erroneous action. Thaddeus Holt's elegantly written and comprehensive book is the first to tell the full story behind these operations. Exactly how the Allies engaged in strategic deception has remained secret for decades. Now, with the help of newly declassified material, Holt reveals this secret to the world in a riveting work of historical scholarship. Once the Americans joined the war in 1941, they had much to learn from their British counterparts, who had been honing their deceptio...
Forgotten Battles
Italy's War of Liberation takes issue with the apparently prevalent attitude among Allied commanders during World War II that the Italian military was ineffective. O'Reilly recounts the little-known story of the significant contribution made by the Italian military during the Italian Campaign, including the contribution of relatively unacknowledged Italian Partisan formations that fought in Italy, France, Yugoslavia, and Greece. Despite the fact that Italians fought on the front lines with the British and American soldiers, and despite the service of the Italian Navy and Air Force, the Allies refused repeated Italian pleas for more involvement in combat. This book not only attempts to correct the record of military history by illustrating the ways in which the Italians were underutilized by the Allies, but it also serves to paint a fair portrait of the Italian military's substantial efforts to defeat Hitler and eradicate Fascism.
