Suchergebnisse

Adoption of inflation targeting and economic policies performance in emerging countries : a dynamic treatment effect evaluation / Mohamed Kadria and Mohamed Safouane Ben Aissa -- Careful price level targeting / George A. Waters -- Are price dynamics homogenous across emerging Europe? : empirical evidence from panel data / Iuliana Matei -- The global component of local inflation : revisiting the empirical content of the global slack hypothesis with Bayesian methods / Enrique Martínez-García -- Pass-through of exchange rate shocks to prices in the Euro area : evidence from pricing chain model / Nidhaleddine Ben Cheikh and Waël Louhichi -- Escape routes from sovereign default risk in the Euro area / Willi Semmler and Christian R. Proaño -- Actual versus perceived Taylor rules : how predictable is the European Central Bank? / Nikolay Markov -- A regime switching model for the European Central Bank / Nikolay Markov -- International trade imbalance : the amplification of monetary policy effects through financial markets / Qiheng Han, Junqing Li and Jianbo Zhang -- Modern monetary rules : any role for financial targeting? / Marcin Wolski -- The Taylor rule, the zero lower bound, and the term structure of interest rates / J. Huston McCulloch -- A comparison of the Fed's and ECB's strategies during the subprime crisis / Marcel Aloy and Gilles Dufrénot -- Was Bernanke right? ": targeting asset prices may not be a good idea after all / Tiziana Assenza, Michele Berarde and Domenico Delli Gatti -- Shareholding relationships and financial crisis : a network analysis / Nicoló Pecora and Alessandro Spelta -- Finance otherwise : the end of banks? / Michel Roux

Since the global financial crisis began in 2008-2009, there has been a strong decline in financial markets and investment, and significant economic recession for most developed and emerging economies. Accordingly, new forms of alternative finance, management, control, accounting, trading and investment are being sought. Alternative finance presents challenges intended to stimulate investment and promote economic growth and development, as well as provide a return on investment during turbulent times. This volume aims to provide the reader with a comprehensive understanding of alternative finance in its various forms. It addresses the impact of the financial crisis and the failure of monetary and financial institutions to manage financial markets and handle the recent downturn. It also presents and discusses new research findings associated with alternative forms of investment and finance, and their economic and political implications.

This is the author's final draft of an article for which the publisher's official version is available from: http://dx.doi.org/10.1017/S1365100597002009 ; Macroeconomics is at a crossroads. The call of real science is drawing it forward to a degree that is without precedent in the history of the field. But the field's origins are related to the exceptional policy relevance of macroeconomics, and the field continues to be pressed for answers to difficult policy problems that sometimes are beyond the current capabilities of the field. Continuing tensions exist between policy demands and the constraints of systematic, rigorous scientific development. A commonly mentioned example is the increasing size of structural macroeconometric models. While highly regarded in many governments, those massive models are greeted with skepticism by the best economics journals.

There's a scene in Lewis Carroll's Through the Looking Glass in which the Red Queen, having just led a chase with Alice in which neither seems to have moved from the spot where they began, explains to the perplexed girl: "It takes all the running you can do, to keep in the same place." Evolutionary biologists have used this scene to illustrate the evolutionary arms race among competing species. William Barnett argues that a similar dynamic is at work when organizations compete, shaping how firms and industries evolve over time. Barnett examines the effects--and unforeseen perils--of competing