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Beyond Divine Coincidence
During the so-called Great Moderation the variability of output, employment and inflation declined substantially in most of the major economies. Because of this positive co-movement the ultimate objective of monetary policy was clear. By stabilizing inflation output will also stay at its potential and the central bank does not face any trade-off between its targets – a situation known as the divine coincidence. With the onset of the financial crisis 2007 these relationships changed. This book contributes to the research on the optimal macroeconomic policy design in the presence of financial frictions. These are incorporated via the cost channel approach into a two-country currency union model. Ultimately, a supply-side effect arises which lowers the efficiency of monetary policy - divine coincidence is not possible any more. Three questions are in the focus of interest of this analysis: What is the optimal monetary policy in the presence of country-specific financial frictions? What role can fiscal policy play? Is macroprudential policy able to improve welfare if the central bank targets a financial stability measure?
Emerging Economic Models for Global Sustainability and Social Development
Change is an inevitable aspect of human life. As time goes by, certain processes and ways of doing things become inadequate. When it comes to economic systems, there is a need to review current models and revise them to meet new global demands in both developed and developing nations. Emerging Economic Models for Global Sustainability and Social Development is an essential reference source that discusses economic, political, and social environments in the modern age, as well as economic development in an era of global hyper-competition, dwindling natural resources, and a growing global skills gap. Featuring research on topics such as monetary policy, economic theory, and rural poverty, this book is ideally designed for business managers, policymakers, government officials, researchers, academicians, and upper-level students seeking coverage on theoretical and empirical models in economic behavior.
Research Anthology on Clean Energy Management and Solutions
Energy usage and consumption continue to rise globally each year, with the most efficient and cost-effective energy sources causing huge impacts to the environment. In an effort to mitigate harmful effects to the environment, implementing clean energy resources and utilizing green energy management strategies have become worldwide initiatives, with many countries from all regions quickly becoming leaders in renewable energy usage. Still, not every energy resource is without flaws. Researchers must develop effective and low-cost strategies for clean energy in order to find the balance between production and consumption. The Research Anthology on Clean Energy Management and Solutions provides ...
Collections of Painting in Madrid, 1601–1755 (Parts 1 and 2)
This two-part book on collections of paintings in Madrid is part of the series Documents for the History of Collecting, Spanish Inventories 1, which presents volumes of art historical information based on archival records. One hundred forty inventories of noble and middle-class collections of art in Madrid are accompanied by two essays describing the taste and cultural atmosphere of Madrid in the seventeenth and eighteenth centuries.
The State, Literacy, and Popular Education in Chile, 1964-1990
The popular education and adult literacy movements in Chile have historically represented competing paths toward a literate society: one born and nurtured through bitter nineteenth-century labor struggles, the other a compensatory effort by the modern state to limit the political potential of literacy. Robert Austin's book explores the contest between the state and popular education in three paradigmatic Latin American regimes: that of Eduardo Frei Montalva (Christian Democrat, 1964-70), Salvador Allende (Socialist, 1970-73) and Augusto Pinochet (Dictator, 1973-90). Robert Austin's engaging narrative captures the relationship between the Chilean state, formal and non-formal literacy, and popular education, from the demise of liberal capitalism to the consolidation of neoliberalism. This remarkable investigation of the dynamic link between the historical process, literacy, and pedagogy celebrates popular education's victory in securing the inclusion, and subsequent empowerment, of women and ethnic minorities. The State, Literacy, and Popular Education in Chile, 1964-1990 will be of great interest to political scientists, cultural historians, and scholars of education.
