Political Economy of the Swiss National Bank
Political Economy of the Swiss National Bank

Author: Bruno Jeitziner

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 282

ISBN-13: 3642998119

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Political Economy of the Swiss National Bank examines whether there exists any systematic political influence on Swiss monetary policy. A partial adjustment model is used to derive the reaction functions. Models of political business cycles and the theory of legislative control are for the first time applied to the Swiss institutional setting. The inflationary performance of the National Bank is not explained with the legal relationship between the executive branch of government and the central bank. It is interpreted as the result of the structure of the executive (commission government) and the characteristics of the Swiss political market for monetary policy. In empirical tests no indirect political influence, defined as a systematic relationship between fiscal and monetary policy, and no direct political influence from elections, the executive and the legislature can be detected.

Swiss Monetary History since the Early 19th Century
Swiss Monetary History since the Early 19th Century

Author: Ernst Baltensperger

Publisher: Cambridge University Press

Published: 2017-08-03

Total Pages: 267

ISBN-13: 1108191444

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This book describes the remarkable path which led to the Swiss Franc becoming the strong international currency that it is today. Ernst Baltensperger and Peter Kugler use Swiss monetary history to provide valuable insights into a number of issues concerning the organization and development of monetary institutions and currency that shaped the structure of financial markets and affected the economic course of a country in important ways. They investigate a number of topics, including the functioning of a world without a central bank, the role of competition and monopoly in money and banking, the functioning of monetary unions, monetary policy of small open economies under fixed and flexible exchange rates, the stability of money demand and supply under different monetary regimes, and the monetary and macroeconomic effects of Swiss Banking and Finance. Swiss Monetary History since the Early 19th Century illustrates the value of monetary history for understanding financial markets and macroeconomics today.

Banking on the State
Banking on the State

Author: MARK K. CASSELL

Publisher:

Published: 2020-11-30

Total Pages: 240

ISBN-13: 9781788211956

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Germany's Sparkassen are publicly held savings banks. No other advanced industrial economy relies as heavily on such small, publicly-owned financial institutions to fuel its economy. Mark Cassell explores the unique entity that is the German public banking system and the lessons it offers to banking systems worldwide.

International Political Economy
International Political Economy

Author: Thomas Oatley

Publisher: Routledge

Published: 2018-10-03

Total Pages: 456

ISBN-13: 1351034642

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Broadly viewing the global economy as a political competition that produces winners and losers, International Political Economy holistically and accessibly introduces the field of IPE to students with limited background in political theory, history, and economics. This text surveys major interests and institutions and examines how state and non-state actors pursue wealth and power. Emphasizing fundamental economic concepts as well as the interplay between domestic and international politics, International Political Economy not only explains how the global economy works, it also encourages students to think critically about how economic policy is made in the context of globalization. New to the Sixth Edition Covers the economic impacts of 2016 electoral events, including new Trump administration initiatives related to TPP and NAFTA; the UK and Brexit, and the European populist wave Examines the global financial crisis, EU debt crisis, quantitative easing, global capital flow cycles, and currency wars Probes the death of the Doha Round and explores individual trade preferences, WTO dispute settlement, bilateral investment treaties and global value chains, labor standards, and the role of institutions for economic development Considers how U.S. monetary and fiscal policy shapes the flow of financial capital into and out of emerging market economies with a focus on the "Fragile Five," whether the Chinese Renminbi can displace the dollar as a global currency, and the newly constructed Asian Infrastructure Investment Bank Explores the impact of migration on wages and income inequality, and the growing importance of working remittances as a source of capital for developing countries.

Political Economy of Financialization in the United States
Political Economy of Financialization in the United States

Author: Kurt Mettenheim

Publisher: Routledge

Published: 2021-09-23

Total Pages: 332

ISBN-13: 1000449629

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Combining balance sheet analysis with historical institutional analysis, this book traces the evolution of social sector financial balance sheets in the US from 1960 to 2018. This innovative historical-institutional approach, ranging from the micro level of households to the macro level of the federal government, reveals that the displacement of households by banks has been a long-term process. This gradual compounding of financialization is at odds with widely accepted views about financialization, contemporary banking theory, financial intermediation theory, and post-Keynesian and endogenous money approaches. The book returns to time-tested traditional principles of banking and taps unexpected affinities about market failures in transaction cost economics, financial intermediation theory, and core ideas in classic modern political and social economy about economic moralities and social reactions of self-defense against unfettered markets. This book provides an alternative explanation for the rise of finance and new ways to think about averting financialization and its devastating consequences. This book marks a significant contribution to the literature on financialization, social economics, banking, and the American political economy.

The Paradox of Vulnerability
The Paradox of Vulnerability

Author: John L. Campbell

Publisher: Princeton University Press

Published: 2017-08-29

Total Pages: 208

ISBN-13: 0691163251

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Why are small and culturally homogeneous nation-states in the advanced capitalist world so prosperous? Examining how Denmark, Ireland, and Switzerland managed the 2008 financial crisis, The Paradox of Vulnerability shows that this is not an accident. John Campbell and John Hall argue that a prolonged sense of vulnerability within both the state and the nation encourages the development of institutions that enable decision makers to act together quickly in order to survive, especially during a crisis. Blending insights from studies of comparative political economy and nationalism and drawing on both extensive interviews and secondary data, Campbell and Hall support their claim by focusing on the three states historically and, more important, in their different responses to the 2008 crisis. The authors also devote attention to the difficulties faced by Greece and Iceland. The implications of their argument are profound. First, they show that there is a positive side to nationalism: social solidarity can enhance national prosperity. Second, because globalization now requires all states to become more adaptable, there are lessons here for other states, large and small. Lastly, the formula for prosperity presented here is under threat: highly homogeneous societies face challenges in dealing with immigration, with some responding in ways that threaten their success. The Paradox of Vulnerability demonstrates how the size and culture of a nation contribute in significant ways to its ability to handle political and economic pressures and challenges.