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Luis Suarez
The young and talented Uruguayan soccer star Luis Suárez has been a perennial focus of the international press. It's not hard to understand why. Suárez has something to offer just about anyone who follows the game: controversy, brash talk, inspired play, and, above all, goals. This indomitable forward, who was born in the city of Salto and later moved to Montevideo, is the protagonist of one of the most compelling stories in the annals of Uruguayan soccer. Raised along with six siblings by a single mother, Suárez rose through the ranks of Uruguay's Club Nacional before vaulting to international fame during the 2010 World Cup, held in South Africa. Now recognized as a star in the elite leagues of Europe, the man whose shooting skills earned him the nickname El Pistolero seems certain to accomplish much more before his career is done.
Bank Leverage and Monetary Policy's Risk-Taking Channel
We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank’s loan portfolio) is negatively associated with increases in short-term policy interest rates. This relationship is less pronounced for banks with relatively low capital or during periods when banks’ capital erodes, such as episodes of financial and economic distress. These results contribute to the ongoing debate on the role of monetary policy in financial stability and suggest that monetary policy has a bearing on the riskiness of banks and financial stability more generally.
Política fiscal
El origen de este libro se remonta a junio de 2001, cuando los autores nos conocimos durante la Escuela Internacional de Verano organizada por la Facultad de Economía de la Universidad de los Andes. Gustavo, quien adelantaba entonces estudios doctorales en la Universidad de Harvard, visit ́o la Escuela Internacional para ofrecer un curso titulado "Tópicos en teoría fiscal". Del otro lado del salón de clase se encontraba Leopoldo en calidad de estudiante. Completado el curso, profesor y estudiante intercambiamos nuestros apuntes. Tras algunos a ̃nos de trabajar a distancia –y con las interrupciones que las ocupaciones de cada uno significaban– logramos completar la versión que el l...
The End of Excess
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Unlocking Credit
Annotation Bank loans are the main source of credit for businesses across Latin America, so understanding what determines the depth, cost, and volatility of bank credit is crucial to designing strategies that ensure financial stability and promote growth. This new edition of Economic and Social Progress in Latin America provides a comprehensive analysis of the region's all-important banking industry. The book examines two-way interactions between macroeconomic policies and financial intermediation -- not only how these policies affect banking but how banks weather intermediate shocks, and how industry incentives can prompt bank portfolio choices that influence economic policy. The report als...
Banach Algebras and the General Theory of *-Algebras: Volume 1, Algebras and Banach Algebras
This is the first volume of a two volume set that provides a modern account of basic Banach algebra theory including all known results on general Banach *-algebras. This account emphasizes the role of *-algebraic structure and explores the algebraic results that underlie the theory of Banach algebras and *-algebras. The first volume, which contains previously unpublished results, is an independent, self-contained reference on Banach algebra theory. Each topic is treated in the maximum interesting generality within the framework of some class of complex algebras rather than topological algebras. Proofs are presented in complete detail at a level accessible to graduate students. The book contains a wealth of historical comments, background material, examples, particularly in noncommutative harmonic analysis, and an extensive bibliography. Volume II is forthcoming.
Between Hell and Tombstone
From Saddlebag Dispatches Magazine, the Award-Winning Home of All Things Western, comes Between Hell and Tombstone, a new anthology bringing you the best of the untamed west. Paul Colt, Anthony Wood, and P.A. O’Neil headline a roster of western writers including old hands like J.R. Wolff and Alex Slusar but with a great selection of newer talent such as David Bowmore, Julianne Metzger Taylor, and Megan McCain. Walk with them down the dusty streets of Tombstone to the O.K. Corral or the Bird Cage Theatre. Ride the revenge trail with Wyatt and Doc. Hide in the shadows hoping your young bride can clear your name. Make the perilous journey through Apache country from Fort Huachuca to anywhere. This is a land where, as Kipling wrote, “the ’eat could make your bloomin’ eyebrows crawl,” where a summer monsoon can wash away everything in its path, and where life is cheap and a bullet is cheaper. Between Hell and Tombstone will grab you with an iron grip and shake you like a dog with a bone. Just try to put it down.
