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Continuation of the reference work that originated with Robert Dodsley, written and published each year, which records and analyzes the year’s major events, developments and trends in Great Britain and throughout the world. After 1815 the usual form became a number of chapters on Great Britain, paying particular attention to the proceedings of Parliament, followed by chapters covering other countries in turn, no longer limited to Europe. The expansion of the History came at the expense of the sketches, reviews and other essays so that the nineteenth-century publication ceased to have the miscellaneous character of its eighteenth-century forebear, although poems continued to be included until 1862, and a small number of official papers and other important texts continue to be reproduced.
The Persian Gulf state of Qatar has fewer than 2 million inhabitants, virtually no potable water, and has been an independent nation only since 1971. Yet its enormous oil and gas wealth has permitted the ruling al Thani family to exert a disproportionately large influence on regional and even international politics. Qatar is, as Mehran Kamrava explains in this knowledgeable and incisive account of the emirate, a "tiny giant": although severely lacking in most measures of state power, it is highly influential in diplomatic, cultural, and economic spheres. Kamrava presents Qatar as an experimental country, building a new society while exerting what he calls "subtle power." It is both the headq...
In response to the Global Financial Crisis and the COVID-19 pandemic, central banks have used all available instruments in their monetary policy tool-kit to avoid financial market disruptions and a collapse in real economic activities. These actions have expanded the size of their balance sheets and altered the composition of the asset-side. This edited book highlights how these assets are managed, providing an intellectual and practical contribution to an under-researched field of central bank responsibilities. It first reviews the sources and uses of domestic and international assets and how they complement—or possibly conflict with—the implementation of monetary policy goals. Next, th...
This book is a guide to asset and risk management from a practical point of view. It is centered around two questions triggered by the global events on the stock markets since the middle of the last decade: - Why do crashes happen when in theory they should not? - How do investors deal with such crises in terms of their risk measurement and management and as a consequence, what are the implications for the chosen investment strategies? The book presents and discusses two different approaches to finance and investing, i.e., modern portfolio theory and behavioral finance, and provides an overview of stock market anomalies and historical crashes. It is intended to serve as a comprehensive introduction to asset and risk management for bachelor’s and master’s students in this field as well as for young professionals in the asset management industry. A key part of this book is the exercises to further demonstrate the concepts presented with examples and a step-by-step business case. An Excel file with the calculations and solutions for all 17 examples as well as all business case calculations can be downloaded at extras.springer.com.
This paper provides an overview of sovereign debt portfolio risks and discusses various liability management operations (LMOs) and instruments used by public debt managers to mitigate these risks. Debt management strategies analyzed in the context of helping reach debt portfolio targets and attain desired portfolio structures. Also, the paper outlines how LMOs could be integrated into a debt management strategy and serve as policy tools to reduce potential debt portfolio vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk management framework, interactions of debt management with fiscal policy, monetary policy, and financial stability, as well as efficient government bond markets.
Since the 1930s, governments have overcome recessions by borrowing and spending to temporarily replace lost consumer and business spending. What happens when they can't do it anymore? In Beyond the Keynesian Endpoint , PIMCO Executive VP Tony Crescenzi offers a sobering tour of today's unprecedented global sovereign debt crisis.