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How America Manages Its Debt
The underexamined art and science of managing the federal government's huge debt.
Everyone talks about the size of the U.S. national debt, now at $13 trillion and climbing, but few talk about how the U.S. Treasury does the borrowing—even though it is one of the world's largest borrowers. Everyone from bond traders to the home-buying public is affected by the Treasury's decisions about whether to borrow short or long term and what types of bonds to sell to investors.
What is the best way for the Treasury to finance the government's huge debt? Harvard's Robin Greenwood, Sam Hanson, Joshua Rudolph, and Larry Summers argue that the Treasury could save taxpayers money and help the economy by borrowing more short term and less long term. They also argue that the Treasury and the Federal Reserve made a huge mistake in recent years by rowing in opposite directions: while the Fed was buying long-term bonds to push investors into other assets, the Treasury was doing the opposite—selling investors more long-term bonds.
This book includes responses from a variety of public and private sector experts on how the Treasury does its borrowing, some of whom have criticized the way the Treasury has been managing its borrowing.
Over the past two decades, ISEAS has compiled abridged articles that analyse key aspects of Southeast Asia's development and the ASEAN process. The ASEAN Reader was published in 1992 just as the Cold War ended, while The Second ASEAN Reader came in 2003 in the wake of the 1997 Asian crisis and the September 11 attacks in 2001. The past decade has not been spared its share of intense changes, with the rise of China and India bringing new challenges to the region's power equation, and the impact of the 2008 global financial crisis. Despite this, the momentum towards an integrated ASEAN community has been maintained. The articles in The Third ASEAN Reader study the trends and events of recent years, and discuss the immediate future of Southeast Asia.
A Comprehensive Analysis of Film Finance
En présentant diverses expériences vécues en situation de crises ou de catastrophes, ce volume s'adresse à toute personne qui de près ou de loin joue un rôle dans la réponse aux grandes urgences : les responsables des services d'incendie, de police, de communication, de sécurité civile, les médecins, infirmières, psychologues, ambulanciers, militaires, les dirigeants d'entreprise à risque, enfin, tous ceux qui, faisant face à des situations graves, devront prendre des décisions et poser des gestes concrets en évitant les erreurs coûteuses et néfastes pour la confiance du public et le bien-être des victimes. Saint-Basile-le-Grand, Boucherville, Saint-Jean-sur-Richelieu, Saint-Amable, Kahnawake, Châteauguay, Saint-Hyacinthe, VY Plus de Cowansville, Sainte-Julie, Saint-Lambert.
The Influence of Richard T. Ely in American Life
For over two generations economist Richard T. Ely popularized a wide spectrum of significant liberal social principles and mirrored many of the dilemmas, frustrations, and successes of the academician as a reformer. He was the originator of many ideas that agitated American reform circles in the late nineteenth and early twentieth centuries, and unlike most professors of his time, he frequently engaged in the public controversies that raged around the crucial social issues of the day.
Through the use of Ely's vast published writings and his large collection of personal papers, Benjamin G. Rader shows him to have been the most provocative spokesman in America of the New Economics which was an important stimulus to the reform efforts in the late nineteenth century. The New Economics inaugurated the institutional economics of the twentieth century and influenced such men as John R. Commons, Thorstein Veblen, Wesley C. Mitchell, and later John K. Galbraith.
Ely's influence on higher education, Rader concludes, was inestimable. His ideas embodied the antecedents of modern welfare economics, but he was also an important figure in promoting the then-new disciplines of political economy, sociology, agricultural economics, and land economics.
The Academic Scribblers offers a thoughtful and highly literate summary of modern economic thought. It presents the story of economics through the lives of twelve major modern economists, beginning with Alfred Marshall and concluding with Paul Samuelson and Milton Friedman. In a very real sense, this book picks up where Robert Heilbroner's classic The Wordly Philosophers leaves off. Whereas Heilbroner begins with Smith and ends with Joseph Schumpeter, Breit and Ransom bring the story of modern American and British economic theory up to the 1980s. The Academic Scribblers is an elegant summary of modern economic policy debate and an enticement into a happy engagement with the "dismal science" of economics."
Originally published in 1998.
The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Politics, Policy, and Risky Technologies
Complex and risky technologies--technologies such as new drugs for the treatment of AIDS that promise great benefits to our society but carry significant risks--pose many problems for political leaders and the policy makers responsible for overseeing them. Public agencies such as the Food and Drug Administration are told by political superiors not to inhibit important technological advances and may even be charged with promoting such development but must also make sure that no major accidents occur under their watch. Given the large costs associated with catastrophic accidents, the general public and elected officials often demand reliable or failure-free management of these technologies and have little tolerance for the error. Research in this area has lead to a schism between those who argue that it is possible to have reliable management techniques and safely manage complex technologies and others who contend that such control is difficult at best. In this book C. F. Larry Heimann advances an important solution to this problem by developing a general theory of organizational reliability and agency decision making. The book looks at both external and internal influences on reliability in agency decision making. It then tests theoretical propositions developed in a comparative case study of two agencies involved with the handling of risky technologies: NASA and the manned space flight program and the FDA's handling of pharmaceuticals--particularly new AIDS therapies. Drawing on concepts from engineering, organizational theory, political science, and decision theory, this book will be of interest to those interested in science and technology policy, bureaucratic management and reform, as well as those interested in health and space policy. C. F. Larry Heimann is Assistant Professor of Political Science, Michigan State University.
Challenges for Member Countries and Businesses
ASEAN leaders proclaimed to create an ASEAN Economic Community by 2015. But achieving the target requires cooperation and coordination both within and among the ten ASEAN economies. Currently, with countries having varying considerations towards complete liberalization, protectionism still persists in certain sectors of the economies. A lot of work needs to be done in addressing the domestic reforms, the gaps in infrastructure, the lack of human resources and adequate institutions. Moreover, it is the businesses whose decisions and actions will help the region to achieve an effective integration. The policymakers have vital roles to play in raising the engagement of the private businesses in ASEAN matters. As time is limited, one way for ASEAN is to focus on "core" elements of integration and implement them earnestly in the shortest possible time. The rest of the process, as envisaged in the AEC blueprint, can follow beyond 2015. This book examines the state of readiness of the member countries for regional integration and discusses the challenges to ASEAN businesses. It gives policy recommendations to address some of the issues faced by the key stakeholders.
This book's contributors assess the performance of economic forecasting methods, argue that data can be better exploited through model and forecast combination, and advocate for models that are adaptive and perform well in the presence of nonlinearity and structural change. The contributors are: Michael D. Bradley, Dean Croshure, Dennis W. Jansen, Kajal Lahiri, Tae-Hwy Lee, David E. Rapach, and H.O. Stekler.