U.S. Money Vs. Corporation Currency, "Aldrich Plan."
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Collected Works of Henry Van Dyke
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
The Economics of Government Regulation
Regulation is a public policy approach closely related to calculations of the equilibrium of supply and demand and to cost-benefit analyses. Governments combine a variety of incentives and restrictions on behavior, including laws and regulations, in order to guide enterprises and smaller entities within the economy toward pursuing policies in the public interest.This book offers an in-depth and systematic review of the economic theory of regulation, with particular emphasis on the Chinese context. The basic concepts cover economic and social regulation, regulatory process, regulation under asymmetric information, and capture theory. Drawing on a broad range of cases from across the telecommunications, electric power, and water sectors since the founding of the People's Republic of China in 1949, the author explores economic regulation in China with reference to natural monopoly, investment, price level and price structure, entry, and competition. In addition, he discusses theories of externalities and asymmetric information, which are analyzed in the light of China's environmental and product quality regulation. The author argues that the Chinese government has deregulated its economy to a large extent in the past and proposes that the Chinese government will enforce more social regulation in the future. Students and scholars of government regulation, economics, and industrial organization will find this volume to be an essential guide.
The Theory Of Money And Credit
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Globalizing the GATT
"The explosive events in Eastern Europe and the dissolution of the Soviet Union have dramatically changed the political landscape that had existed for decades. The West must now develop new policies that are suitable for addressing the opportunities and challenges of the post-cold war world. Globalizing the GATT describes the task of integrating the Soviet Union's successor states and Eastern European counties into the global economy and focuses on their participation in the international trade participation in the international trade institution, the General Agreement on Tariffs and Trade (GATT). Through a comparative analysis of the history of negotiations between the former Eastern European countries and the GATT, Leah Haus explains the current policy problems that must be addressed.Drawing on documentary sources and extensive interviews with former and current officials from the European Community, the GATT secretariat, Hungary, Poland, and the Untied States, the author traces the historical origins and evolution of the Soviet and Eastern European countries' relations with the GATT from the 1940s to the present.Haus demonstrates that economic issues have been less relevant to these negotiations than might be expected, because Western political-security concerns have predominated in the past. Strategic political objectives have driven Western policies when determining whether an eastern European country could affiliate with the GATT.Haus shows that trade policy issues generally surfaced when strategic political objectives dictated cooperation with an eastern European country, and in these cases the negotiations became enmeshed in broader West-West conflicts over multilateral and bilateral trade practices."
Why Should White Guys Have All the Wealth?
Why haven't other books made you a millionaire? Why Should White Guys Have All the Wealth? digs into why you find it hard to do what you need to do with your money to become a millionaire and shows you how to push past it.Yes, there's tons of information on personal finance, but Nash's M$M wealth-building system integrates the steps you need to develop the right mindset, adopt the right values, and make the right money moves. Designed to make you a millionaire, it will mobilize your financial state even if you're starting from the bottom.Learn how to take what you have and earn more so you can invest in securities, real estate, entrepreneurship, and alternative investments that will build real wealth and lifelong income for yourself and future generations.Through stories, humor, and real-world grit, you'll feel like you're spending a casual afternoon with your favorite uncle or mentor who happens to be a multi-millionaire and wants to help you become one too.It doesn't matter where you're starting from today!Start here. Start now. Build wealth. Close the racial gap.
The Welfare Marketplace
"This provocative report examines the trend toward competitive contracting of government functions. By focusing on four jurisdictions that hired private firms to handle welfare-to-work services, The Welfare Marketplace reveals the ways in which increased contracting with the private and nonprofit sectors is changing the role and capacity of government, threatening accountability and responsiveness to groups with special needs. Encouraging improved performance through market mechanisms creates particular challenges for the nonprofits who must balance their missions with the bottom line.The organization of service delivery to welfare clients has undergone significant restructuring as a result of the 1996 Welfare Reform Act, which encouraged states to contract with outside companies and for the first time allowed them to determine eligibility for welfare benefits. Seeking to assess the impact of this development, M. Bryna Sanger studied the competitive contract environment in San Diego, Milwaukee, New York, and Houston. Interviewing contracters, public officials, opinion leaders, and researchers revealed the comparative advantages of a variety of key players in the multi-sector service industry.Sanger's conclusions paint a complex picture of how competitive contracting arrangements have changed the ways vendors and government agencies serve their clients. While performance and innovation have improved in some cases, all the players are finding that adequate accountability and contract monitoring are more difficult and expensive than anticipated. Both for profits and nonprofits are quickly draining talent and capacity as they compete for experienced executives from government and from each other.Sanger argues that competitive contracting is here to stay, but it will require more--not less--government management and oversight. She urges scholars and practitioners to develop a more nuanced and sophisticated set of expectations about the costs and"
What Should Banks Do?
The financial services industries are undergoing revolutionary change. Continuing technological advances, coupled with the removal of controls on deposit interest rates and barriers to interstate bank expansion, have ushered in a new age of competition among banks themselves and between banks and other types of financial institutions. What Should Banks Do? offers a new and controversial proposal for carefully circumscribed diversification. Robert Litan first examines what role banks should play in this altered environment: Should banks and their holding companies be confined to the "business of banking: and related activities? Or should banking organizations be permitted to engage in much wider set of businesses? He answers these questions by thoroughly reviewing the available evidence on the benefits and risk of expanding bank powers. He finds that the largest benefits would come from the reduced risk that most bank holding companies would face if they were permitted to diversify their service offering. He sees risks to the safety and soundness of the banking system from financial product diversification, but proposes ways to minimize them. In the final chapter, Litan outlines two basic policy frameworks form minimizing the risks while preserving the social benefits that increased competition will eventually produce, He concludes that the challenge for policy-makers is to act decisively to maximize the benefits of financial product diversification, while limiting its risks, before the rapid changes in the financial services industries make it too late to do so.
Taming Regulation
"Despite three decades of vigorous efforts at deregulation across the government, regulation remains ubiquitous. It also continues to be unpopular because it forces individuals and businesses to do things--frequently costly and unpleasant things--that they don't want to do. If regulatory programs are to survive and remain effective, the challenge posed by their endemic unpopularity and political vulnerability must be met. Unlike much of the existing literature on regulation, Taming Regulation begins with the assumption that the government's capacity to utilize regulation as a policy tool is vital. The book examines the questions of how to make the inherently coercive aspects of regulation more politically acceptable in the present antiregulatory environment and how the legal and administrative challenges of reform in ongoing regulatory programs might best be approached. The authors explore these issues through a case study of administrative reform in the Superfund program. Chartered with an ambitious mission to clean up the nation's hazardous waste sites, Superfund was from its inception a uniquely aggressive and unpopular program. Yet despite the election in 1994 of a Republican Congress committed to fundamental changes in environmental regulation, the Superfund program weathered the storm and remains intact today. The authors credit this political and programmatic success to a series of artfully designed and orchestrated internal reforms that softened Superfund's implementation, thus increasing its political support while retaining its potent coercive tools. Taming Regulation provides a cautionary discussion of both the necessity and the difficulty of regulatory reform. It is essential reading for students of regulation and environmental policy, for practitioners contemplating reform of ongoing regulatory programs, and for those interested in the checkered history of Superfund. "
Changing the Rules
"Since 1971 competition has begun to replace regulation as a governing force in the telecommunications industry. The breakup of the national telephone monopolies, technological advances, and the worldwide network in telecommunications have brought a revolution in the telecommunications equipment and services industries. These changes have forced legislators and regulators to rethink public policy toward communications. The papers in this book were first presented at a conference organized by Robert Crandall and Kenneth Flamm, pulling together a group of industry professionals and scholars to address the far-reaching implications of the upheaval in the communications industry. The contributors analyze the effects of this increasing competition on standardization, technical innovation, and international rivalry. Changing the Rules offers possible policy options and analyzes their potential effects on the future market structure and the competitive positions of the U.S. computer and communications industries."
Who Bears the Lifetime Tax Burden?
"Debates about tax policy arise every year in Washington, and legislative changes occur almost as often. In just the past decade, corporate tax burdens were dramatically reduced and then subsequently increased. But who really bears the burden of taxation? Finding a satisfactory way to address this question remains one of the biggest challenges for economists. While much research has explored this issue using annual data on household incomes and expenditures, this book considers the multiple effects of taxes on individuals over their entire lifetimes.Since annual incomes typically vary from year to year, and change systematically over the course of a lifetime, annual income is not necessarily a good indicator of a person's relative well-being. Instead, Dianne Rogers and Don Fullerton categorize individuals into lifetime income groups, and re-estimate the pattern of earnings over the lifetime of each group. They utilize a general equilibrium model that encompasses household demands, work effort, and savings, and they calculate the distribution of each current tax. Because their model includes all major U.S. federal, state, and local taxes, it can be used to simulate the effects of changes in any of those taxes on investment, productivity, resource allocation, and the distribution of burdens.Don Fullerton is professor of economics at the University of Virginia and visiting professor of economics and public policy at Carnegie Mellon, School of Urban and Public Affairs. He served as Deputy Assistant Secretary of the Treasury for Tax Analysis from 1985 to 1987. Diane Lim Rogers is assistant professor of economics at Pennsylvania State University."
Cracking the Code
The corporate alternative minimum tax (AMT) was hailed in the Tax Reform Act of 1986 as instrumental to ensuring that tax loopholes would not permit corporations to avoid paying their fair share of tax liability. In 1995, less than ten years later, repeal of the AMT was pledged as part of the Republican Party's "Contract with America" and passed by the House of Representatives. Opponents of the AMT object that it penalizes new investment by firms and prevents the use of legitimate deductions. Its defenders tout the ability of the AMT to address public perceptions of unfairness in the tax system. At first glance, the debate over the AMT seems to be another example of the classic struggle between equity and efficiency. But, as this book reveals, there are serious flaws in the arguments used on both sides of this issue. As a result, the AMT may fail to achieve any notable equity objectives and may miss the opportunity to make significant improvements in the efficiency with which the nation's scarce capital is employed. Whether or not reforms of the AMT are ultimately enacted, the debate over the AMT raises fundamental questions of tax policy that will persist: Who benefits from tax subsidies? How much should the tax code be used to direct resources in the economy? If corporate taxes are ultimately borne by individuals, how do corporate tax provisions affect fairness? Andrew Lyon opens these topics up to a wide audience, presenting new data on the impact of the AMT, and offering suggestions for future policy reform. He argues that the legislative desire to respond to an apparent inequity should be channeled into considering whether there are efficiency reasons for reducing the tax advantages observed. The best solutions to these considerations, he contends, are not found in a minimum tax.
Assessing Tax Reform
"Reform of the United States tax system has become a central political issue. Assessing Tax Reform is a concise, nontechnical book to help general readers and students understand the tax reform issues Congress is now debating. Henry Aaron and Harvey Galper lay out the major alternative proposals and analyze principles of taxation that can be used for judging them. They explore the issues surrounding a move to a comprehensive income tax, a cash-flow tax, and the value-added tax or other consumption-based taxes. They show the conflicts and opportunities resulting from large current government deficits and the move for tax reform.In addition to clarifying the problems that must be solved if large-scale, long-term reform is to be achieved, the authors describe alternative strategies for increasing revenues quickly. They also present their own program for a fair, efficient, and less complex tax structure. They conclude with an examination of the political pitfalls that continue to make any major improvements in the tax system hard to enact."
International Financial Intermediation
This book explains what the internationalization of banking and finance means, and examines its extent and the reasons it has developed. The advantages and disadvantages of the new situation-and what is yet to come-are neatly sketched, along with the policy problems for national governments and international bodies.
The Liability Maze
"With an ever-increasing number of liability lawsuits, are corporations electing to play it safe rather than risk the uncertainties accompanying innovation? In The Liability Maze experts address the issues surrounding safety and innovation and present the most detailed and comprehensive study to date on the actual impact of U.S. liability law. In recent decades it has been widely assumed that liability laws promote safety by significantly raising the price companies must pay for negligence, product defects and accidents. More recently, others have suggested that the broad and unpredictable sweep of these laws actually deters innovation. The risks of lawsuits are so great that corporations are showing more caution in product innovation than ever before. The contributors focus on five sectors of the economy where the liability system appears to have had the greatest effects, positive or negative: the private aircraft, automobile, chemical, and pharmaceutical industries, and the medical profession. They suggest that in many sectors liability law has hampered innovation. In others it has stimulated safety improvements, although perhaps not so much as vigilant safety regulations."
Uneasy Compromise: Problems Hyb
"Whether the nation would be better served by an income tax or by a consumption tax has been debated by tax experts for decades. In practice, tax systems everywhere are mixed or ""hybrid"" systems. And while legislators have reasons for enacting such systems, the mix results in inequities, inefficiencies, and abuse.For Uneasy Compromise, Brookings brought together some of the nation's most knowledgeable tax experts and analysts to address the question: How should lawmakers grapple with the problems that arise from the side-by-side existence of principles of consumption taxation with principles of income taxation? Rather than propose rules for an ideal system that will never exist, this book addresses the problems created by a hybrid system. In so doing, it offers policymakers a comprehensive and sophisticated analysis of our current tax system and the tools for evaluating proposed refinements."
After the Breakup
"The U.S. telecommunications industry has undergone dramatic changes in recent years that have touched almost every American home and business. The average American can dial almost anywhere in the world directly, store and forward a message, or transmit a fax in less than a minute; often for less than the real cost of a 500-mile telephone call tweny-five years ago. The combination of telecommunications breakthroughs, competition among new and old carriers, and the AT&T breakup has transformed the telephone industry and provided customers with a new array of equipment and services.Robert W. Crandall examines the effects of the AT&T breakup and weighs the costs and benefits to the residential and business consumer. On balance, he finds that the efficiency gains from opening up the telephone industry have more than offset the possible efficiency losses, which may be caused by the sacrifice of economies of scale and scope or the absence of fully compatible equipment and services. The replacement of regulation with competition has led to greater productivity in the telephone industry, a more efficient rate structure, and lower equipment prices.Crandall traces the telecommunications evolution from its early beginnings as pairs of copper wires up through the historic 1982 decision to divest. He investigates the impact of technological changes, competition, and the advent of divestiture on the quality of service, local and interexchange service rates, productive efficiency, and income distribution. He also focuses on problems that linger after the breakup in the increasingly competitive but highly regulated sector."
Financial Regulation in the Global Economy
In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank capital requirements, and initiated cooperative understanding about securities market supervision. This book assesses what further coordination and harmonization in financial regulation will be required in an era of increased globalization. A volume of Brookings' Integrating National Economies Series
Taxation in an Integrating World
"Tanzi explores how foreign taxes on repatriated income should be treated; how profits, sales, and ownership of property should be allocated among countries; and to what degree various taxes should be coordinated.As global markets for goods, services and financial assets have become increasingly integrated, national governments no longer have as much control over economic markets. With the completion of the Uruguay Round of the GATT talks, the world economy has entered a fresh phase requiring different rules and different levels of international cooperation. Policies once thought to be entirely domestic and appropriately determined by national political institutions, are now subject to international constraints. Cogent analysis of this deeper integration of the world economy, and guidelines for government policies, are urgent priorities. This series aims to meet these needs over a range of 21 books by some of the world's leading economists, political scientists, foreign policy specialists and government officials.A volume of Brookings' Integrating National Economies Series"
Assessing Bank Reform
"The last decade has been both traumatic and revolutionary for the U.S. banking industry. In late 1990 and early 1991, the outlook for the banking industry and even the federal insurance fund that backs most of its deposits looked especially bleak. Several independent analysts, congressional watchdog agencies, and the federal government itself warned that the large number and size of bank failures would exhaust the resources of the Federal Deposit Insurance Corporation for resolving bank failures and paying off their depositors.Amid extensive proposals for deposit insurance reform, Congress enacted the Federal Deposit Insurance Corporation Improvement Act (FDICIA), one of the most important and controversial pieces of banking legislation of the last fifty years.In December 1992, Brookings sponsored a conference, in conjunction with the Chicago Clearing House Association, to mark the first anniversary of FDICIA and to assess its impact.This book features the papers presented at the conference and a summary of the discussion of the more than 150 participants. Representatives with diverse viewpoints met to consider and debate the wisdom of FDICIA and of future banking policy. The authors include leading academic scholars, current and former policymakers, and experts from the private sector. Their papers cover the intellectual and political history of the Act, how the Act was being implemented, responses of regulators and banks to the Act, and how banking regulatory and legislative policy should proceed. The book concludes with recommendations for future banking regulatory and legislative policy.In addition to editors Kaufman and Litan, the contributors are James E. Annable, First National Bank of Chicago; Richard C. Aspinwill, Chase Manhattan Bank; Richard Scott Carnell, Senate Banking Committee; Anthony Downs, Brookings; Robert E. Glauber, Harvard University; William S. Haraf, Citicorp; W. Lee Hoskins, Huntington National Bank; Edwar"
Tax Reform and the Cost of Capital
"The tax reform movement that swept the U.S., Great Britain, and most other industrialized nations during the last decade has focused attention on international comparisons of the cost of capital. More recently, international comparability has become a critical issue of tax harmonization. This is a vital concern in the European Community, as well as between Canada and the United States.This volume provides international comparisons of the cost of different types of capital for nine major industrialized countries--Australia, Canada, France, Germany, Italy, Japan, Sweden, the United Kingdom, and the United States--for the period 1980-1990. In the early 1980s the introduction of tax incentives for saving and investment gradually shifted the tax base from income toward consumption. By 1990 most of these special tax provisions had been reduced or repealed in order to lower tax rates and equalize the tax treatment of different forms of capital income. Income was firmly reestablished as the most appropriate basis for taxation.Separate chapters for each of the nine countries, written by leading experts in public economics, provide detailed accounts of tax policy changes over the decade. Each chapter contains a quantitative description of these tax policies and summarizes this information in the form of effective tax rates. The book thus serves as an indispensable reference for comparing capital income taxation in industrialized countries during a period of rapid policy change."
Economic Effects of Fundamental Tax Reform
"The tax system profoundly affects countless aspects of private behavior. It is a powerful policy influence on the distribution of income and it is the one aspect of government that almost every citizen cannot avoid. With tax reform high on the political agenda, this book brings together studies of leading tax economists and lawyers to assess the various reform proposals and examine the effects of tax reform in several distinct areas. Together, these studies and comments on them present a balanced evaluation of professional opinion on the issues that will be critical in the tax reform debate.The book addresses annual and lifetime distributional effects, saving, investment, transitional problems, simplification, home ownership and housing prices, charitable groups, international taxation, financial intermediaries and insurance, labor supply, and health insurance.In addition to Henry Aaron and William Gale, the contributors include Alan Auerbach, University of California, Berkeley; David Bradford, Princeton University; Charles Clotfelter, Duke University; Eric Engen, Federal Reserve; Don Fullerton, University of Texas; Jon Gruber, Massachusetts Institute of Technology; Patric Hendershott, Ohio State; David Ling, University of Florida; Ronald Perlman, Covington & Burling; Diane Lim Rogers, Congressional Budget Office; John Karl Scholz, University of Wisconsin; Joel Slemrod, University of Michigan; and Robert Triest, University of California, Davis."
Open Doors
"A Brookings Institution Press, the World Bank, and the International Monetary Fund publication The extensive reforms and liberalization of financial services in emerging markets worldwide call for cutting-edge strategies to capture the benefits of new investment opportunities. In Open Doors, a volume of papers from the third annual Financial Markets and Development conference, multidisciplinary financial sector experts analyze current economic and political trends and prescribe practical advice to the financial development community. The book addresses the key issues of concern regarding the emerging markets, including the trends, motivations, and scope of FDI in finance; policy options that will best capture the opportunities of foreign entry; and the role of foreign institutions in e-finance innovation. The authors focus on specific topics such as foreign participation in emerging market banking systems and securities industries, WTO policies and enforcement, the role of foreign banks, liberalization of insurance markets, the need for capital markets, and the policy, regulatory, and legal issues associated with e-finance. For policymakers and financial practitioners affected by the WTO's Financial Services Agreement, this timely book should be of particular interest. Contributors include Donald Mathieson (International Money Fund), Pierre Sauv矇eacute; (Trade Directorate, OECD), George J. Vojta (formerly with Bankers Trust and Citibank), Harold D. Skipper (J. Mack Robinson College of Business, Georgia State University), Benn Steil (Council on Foreign Relations), Morris Goldstein and Edward M. Graham (Institute for International Economics), Nicolas Lardy (Brookings Institution), Phillip Turner (Bank of International Settlements), and Robert Ledig (Fried, Frank, Shriver & Jacobson). "
High Stakes Antitrust
"A Brookings Institution Press and American Enterprise Institute publication After nearly twenty years of a ""less is more"" approach to antitrust, the Department of Justice under the Clinton administration took action against several major corporations that rely on financial, transportation, and electronic networks to support their business-Visa/MasterCard, American Airlines, and Microsoft. In High-Stakes Antitrust, noted scholars with divergent opinions examine the impact and validity of the Justice Department's actions. Some believe that it was well within the law to pursue these companies, while others argue that the administration exceeded its authority. They all agree, however, that the impact of the Clinton administration's antitrust policies will be felt for quite some time. "
U.S. Relations with the World Bank, 1945-92
Catherine Gwin examines the evolution of U.S. policy toward the World Bank and the impact of the United States on the institution's policies and operations. Beginning with the U.S. role in the start-up of the Bank, Gwin describes the ebb and flow of the U.S. support: the increasing activism of Congress in U.S.-World Bank policy starting in the 1970s, the breakdown in the bipartisan character of support for the Bank in the early 1980s, followed by renewed U.S. attention in response to the debt crisis, and the later entry of Russia and other transforming economies into the Bank. Gwin disputes both those who see the Bank as under the thumb of the United States and those who see it as unresponsive to U.S. concerns. She suggests that the U.S. policy toward the World Bank has always reflected an underlying ambivalence toward both development assistance and multilateral cooperation. As a result, U.S. policy in the Bank has been erratic--often reflecting the swings in U.S. politics and foreign policy rather than presenting a coherent view of the development financing role of the World Bank and a rigorous concern for the effectiveness of Bank operations.
The World Bank and the IMF
In this book, Jacques J. Polak describes and analyzes the relationship between the World Bank and the International Monetary Fund (IMF) from the Bretton Woods conference in 1944 to the present. In their first three decades, the two institutions engaged in clearly distinct activities: the Bank made long-term loans to finance infrastructural projects in developing countries, while the Fund gave economic advice and short-term stabilization loans to both industrial and developing countries. But since the mid-1970s, the separate lives of the two "Bretton Woods Sisters" have become increasingly entangled and the demarcation lines between them have often become blurred. Polak focuses primarily on this period of the last fifteen to twenty years when many developing countries struggled with problems of adverse terms of trade, high interest rates, and debt; and both the Fund and the Bank strove to meet these countries' pressing needs for macroeconomic stabilization and structural adjustment. The book discusses in detail the origin of the conflicts between the institutions arising from their overlapping activities that culminated at the end of the 1980s and the measures taken since then to diffuse these conflicts. A Brookings Occasional Paper
Loan Sharks
Predatory lending: A problem rooted in the past that continues today. Looking for an investment return that could exceed 500 percent annually; maybe even twice that much? Private, unregulated lending to high-risk borrowers is the answer, or at least it was in the United States for much of the period from the Civil War to the onset of the early decades of the twentieth century. Newspapers called the practice "loan sharking"" because lenders employed the same ruthlessness as the great predators in the ocean. Slowly state and federal governments adopted laws and regulations curtailing the practice, but organized crime continued to operate much of the business. In the end, lending to high-margin investors contributed directly to the Wall Street crash of 1929. Loan Sharks is the first history of predatory lending in the United States. It traces the origins of modern consumer lending to such older practices as salary buying and hidden interest charges. Yet, as Geisst shows, no-holds barred loan sharking is not a thing of the past. Many current lending practices employed today by credit card companies, payday lenders, and providers of consumer loans would have been easily recognizable at the end of the nineteenth century. Geisst demonstrates the still prevalent custom of lenders charging high interest rates, especially to risky borrowers, despite attempts to control the practice by individual states. Usury and loan sharking have not disappeared a century and a half after the predatory practices first raised public concern.
Cryptocurrency Compliance and Operations
Offers detailed guidance and example documentation on the procedures launching a crypto fund Explains the operational procedures and compliance requirements for crytpo asset managers Includes detailed analysis of crypto anti-money laundering compliance, regulations and laws for cryptocurrencies Features current examples of real-world crypto operations policies and compliance manuals
Infinity Wealth
This book is a culmination of experiences put into writing. They are not just my experiences, but the experiences of the tens of thousands of investors I have had the opportunity to teach, the tax returns and financial data of so many successful investors that I have had the opportunity to review, and the experiences of fellow teachers. Many of the strategiesherein were designed in conjunction with some fantastic investors who have achieved amazing results. For example, when I write about the stock market landlord, I rely heavily on Markay Latimer, a friend and investor, whom I knew in 1999 when she took a $2,000 stock trading account and grew it to over $2 million. Without her input and assistance, I never would have been able to put into words what has been a blessing for so many. Or Jerry Guite, who was the source of so ma ny introductions to successful entrepreneurs and investors throughout my life and a key encourager for me to create my own path. There are many others who provided input and inspiration including David McShane, Erik Dodds, Michael Kramer, Aaron Adams, Clint Coons, Patti Peery, Michael Bowman and David Gass, just to name a few; but the point is that this is not a work of one man's opinion. This is a path paved by the experiences of many that I simply point out so that you can follow their example and get similar results.
Stock Price Dynamics of Us Reits
By adopting the 'REIT laboratory' and incorporating REIT-specific Fama-French factors, Nick Martin Trefz builds the foundation to appropriately isolate the parameters of interest and to transparently investigate the areas of interest (Short Selling, Covid-19, and ESG) throughout the chapters in this book. He finds that short selling activity measured by short interest correlates with positive excess returns, and that low short interest portfolios have positive and statistically significant alphas. He further identifies that during the Covid-19 pandemic the sources of spillovers among US real estate sectors remain constant compared to before Covid-19. Lodging can be identified as a source of total return as well as tail risk, and Office can be considered a source of volatility. Lastly, he shows that ESG ratings do not affect returns during Covid-19. However, higher ESG ranked REITs show significantly lower volatility during Covid-19.
A Banker’s Journey
Originally intended to be a family memoir, A Banker's Journey laser-focused on the LDC debt crisis of the 1980s and the banking consolidation of the 1990s after author Charles L. Coltman III realized how few insiders knew the true background of the merger of CoreStates Financial and First Union Corporation of Charlotte, North Carolina. Certainly, no other part of his personal story seemed as important to the bigger picture than his role during that merger and no other book has covered the LDC debt crisis from the perspective of regional bankers like Coltman. Drawing on his firsthand knowledge and experience. Coltman reveals the decisions that led to the First Union/CoreStates merger failure and, in the process, offers students of economic history and current commercial bankers dealing with risk and regulators a fascinating account full of lessons to be heeded.
The Digital Journey of Banking and Insurance, Volume III
Gathers the most relevant methods used in the bank and insurance digitalizationShowcases how to deal with data and data architectures including streaming technology Addresses data regulatory requirements like GDPR or data lineage​​
The Digital Journey of Banking and Insurance, Volume II
Gathers the most relevant methods used in bank and insurance digitizationIncludes cases on processes, leveraging computational power, and machine learning modelsProvides machine learning and deep learning frameworks and examples​
A Banker’s Journey
Originally intended to be a family memoir, A Banker's Journey laser-focused on the LDC debt crisis of the 1980s and the banking consolidation of the 1990s after author Charles L. Coltman III realized how few insiders knew the true background of the merger of CoreStates Financial and First Union Corporation of Charlotte, North Carolina. Certainly, no other part of his personal story seemed as important to the bigger picture than his role during that merger and no other book has covered the LDC debt crisis from the perspective of regional bankers like Coltman. Drawing on his firsthand knowledge and experience. Coltman reveals the decisions that led to the First Union/CoreStates merger failure and, in the process, offers students of economic history and current commercial bankers dealing with risk and regulators a fascinating account full of lessons to be heeded.
Road Map for Developing an Online Platform to Trade Nonperforming Loans in Asia and the Pacific
This report examines the feasibility of establishing an electronic marketplace for trading nonperforming loans (NPLs) in Asia and the Pacific and explains how this would benefit financial stability in the region. A sharp increase in NPLs could threaten to destabilize financial systems in the region and compromise post-pandemic economic recovery. The report explains how trading distressed assets may help relieve pressure on banks to ensure they have the capacity to continue financial intermediation. Designed to serve as a road map, it assesses the region's demand and readiness for an NPL platform, details the benefits it could offer, and explains how it could ultimately help countries improve their financial stability.
Personal Money and World Governments
Individuals and nations should be like the tortoise in the fable and provide for the long term. Health, both financial and physical, is affected by personal decisions and external influences. About 100 graphs and tables complement the text in depicting the results of extensive analyses. Topics include career choices, reduced spending and early investing for retirement along with practices of the governments of sample countries. Finances, health, education and employment are compared.Internationally accepted data are analyzed to depict annual deaths from various energy sources and the financial costs of solar and wind power, as well as for electric vehicles.Example of California electricity generating capacity availability and costs in US$ per 1,000 kilowatt-hours: Wind 25.5% - $306; Utility Solar 27.5% - $447; Residential Solar 17.5% - $1,342. Market Value-only the $40-$100 cost of natural gas power plant fuel due to natural energy source unreliability on annual system capacity demand peak as well as winter and summer months' energy demand.Examples of annual deaths per 100 million people relevant to electric vehicles: USA, cumulative due to smoking, inactivity and poor diet: 380,000USA, due to all sources of energy for electricity generation: 6,800China, due to electricity generation from coal alone: 27,000US, net lives saved by replacing all gasoline vehicles with electric vehicles: 2,300Annual deaths per 100 million people from violence: Mexico: 18,970; USA: 5,530; Canada: 1,770; Germany: 690; China: 820; Japan: 260.
Personal Money and World Governments
Individuals and nations should be like the tortoise in the fable and provide for the long term. Health, both financial and physical, is affected by personal decisions and external influences. About 100 graphs and tables complement the text in depicting the results of extensive analyses. Topics include career choices, reduced spending and early investing for retirement along with practices of the governments of sample countries. Finances, health, education and employment are compared. Internationally accepted data are analyzed to depict annual deaths from various energy sources and the financial costs of solar and wind power, as well as for electric vehicles. Example of California electricity generating capacity availability and costs in US$ per 1,000 kilowatt-hours: Wind 25.5% - $306; Utility Solar 27.5% - $447; Residential Solar 17.5% - $1,342. Market Value-only the $40-$100 cost of natural gas power plant fuel due to natural energy source unreliability on annual system capacity demand peak as well as winter and summer months' energy demand. Examples of annual deaths per 100 million people relevant to electric vehicles: USA, cumulative due to smoking, inactivity and poor diet: 380,000USA, due to all sources of energy for electricity generation: 6,800China, due to electricity generation from coal alone: 27,000US, net lives saved by replacing all gasoline vehicles with electric vehicles: 2,300Annual deaths per 100 million people from violence: Mexico: 18,970; USA: 5,530; Canada: 1,770; Germany: 690; China: 820; Japan: 260.
Finance's Wrong Turns
There is a foundational crisis in financial theory and professional investment practice: There is little, if any, credible evidence that active investment strategies and traditional institutional quantitative technologies are able to provide superior risk-adjusted, cost-adjusted return over investment relevant horizons. Economic and financial theory has been in error for more than fifty years and is the fundamental cause of the persistent ineffectiveness of professional asset management. Contemporary sociological and economic theory, agent-based modeling, and an appreciation of the social context for preference theory provides a rational and intuitive framework for understanding financial markets and economic behavior. The author narrates his long-term experience in the use and limitations of traditional tools of quantitative asset management as an institutional asset manager in practice and as a quantitative analyst and strategist on Wall Street. Monte Carlo simulation methods, modern statistical tools, and U.S. patented innovations are introduced to redefine portfolio optimality and procedures for enhanced professional asset management. A new social context for expected utility theory leads to a novel understanding of modern equity markets as a financial intermediary for purchasing power constant time-shift investing uniquely appropriate for meeting investor long-term investment objectives. This book addresses the limitations and indicated resolutions for more useful financial theory and more reliable asset management technology. In the process, it traces the major historical developments of theory and institutional asset management practice and their limitations over the course of the 20th century to the present, including Markowitz and the birth of modern finance, CAPM theory and emergence of institutional quantitative asset management, CAPM and VM theory limitations and ineffective iconic tools and strategies, andinnovations in statistical methodologies and financial market theory.
Keeping Indonesia Safe from the COVID-19 Pandemic
This book elaborates on how Indonesia handles the COVID-19 pandemic and its subsequent effects on the economy, political economy and social life during 2020-21. The book is written jointly by policymakers who are involved in the design of the National Economic Recovery Programme and scholars who closely monitor and evaluate the policy responses undertaken during these hard times. The book presented analyses based on studies undertaken in-house at the Ministry of Finance and in collaboration with other independent and reputable institutions. In its process of drafting, chapters in this book benefited from peer expert reviews. This book is a contribution from us as lessons learnt from encountering global pandemic impacts, for now and the future.
Innovative Humanitarian Financing
Examines the use of innovative financing tools in the humanitarian sector from both an academic and practitioner perspectiveExplores practical examples and real-life case studies of non-traditional funding mechanisms being used in the humanitarian sector, and analyses their effectivenessProposes policy strategies for further development in the humanitarian finance space and discusses potential future trends including cash-based tools and the role of fintech
Financialization
Beginning with an original historical vision of financialization in human history, this volume then continues with a rich set of contemporary ethnographic case studies from Europe, Asia and Africa. Authors explore the ways in which finance inserts itself into relationships of class and kinship, how it adapts to non-Western religious traditions, and how it reconfigures legal and ecological dimensions of social organization, and urban social relations in general. Central themes include the indebtedness of individuals and households, the impact of digital technologies, the struggle for housing, financial education, and political contestation.
An Impact of Cross Listings on the Valuation of Indian Stocks
This comprehensive book provides clear concepts and a plethora of cross listings, enables students to acquire a strong working knowledge and thorough understanding of the rapidly growing field of Cross listings through Depository receipts. It includes up-to- date coverage of all related financial products. Students will learn essential skills to manage Indian stocks listed on International stock markets through American Depository Receipts and Global Depository Receipts.About the Author: Dr. Arifa Begum is currently Ratified Professor, Aurora P.G. College, O.U affiliated, Hyderabad. She is an active researcher and a teacher with an experience of 14 years. She has published many papers in various management journals and also presented papers in conferences. Her area of interest include Financial management, services & stock market.
OECD Competition Assessment Reviews: Brazil
This review provides an analysis of regulatory barriers to competition in Brazil, specifically in the ports and civil aviation sectors, and makes recommendations for Brazilian authorities to mitigate harm to competition and foster long-lasting growth. It is based on a competition assessment conducted by the OECD in co-operation with the Brazilian Competition Authority (CADE) identifying rules and regulations that may hinder the competitive and efficient functioning of markets in the two sectors under review. The review also includes estimates of the impact that the implementation of certain specific recommendations could have on the economy.
Tax Policy Reforms 2022 OECD and Selected Partner Economies
This is the seventh edition of Tax Policy Reforms: OECD and Selected Partner Economies, an annual publication that provides comparative information on tax reforms across countries and tracks tax policy developments over time. The report covers the tax policy reforms introduced or announced in 71 member jurisdictions of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting, including all OECD countries, for the 2021 calendar year. In addition to providing an overview of tax policy reforms, and the macroeconomic and tax revenue context in which measures were introduced, the report also contains a Special Feature that examines government responses to rising energy prices and offers some policy recommendations in the event that prices remain high.
Green Bond Market Survey for Cambodia
This publication provides an overview of institutional investors' interest in green bonds issued in Cambodia, along with an assessment of the perspectives of local arrangers and underwriters on their clients' interest in green bond issuances. It presents the results of a survey to help identify drivers, impediments, and development priorities for Cambodia's sustainable finance market. The findings and insights presented in this publication are intended to inform how the Asian Development Bank and other partners could further support the market's development.
