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The untold story of how FDR did the unthinkable to save the American economy.
Book Synopsis American Default by : Sebastian Edwards
Download or read book American Default written by Sebastian Edwards and published by Princeton University Press. This book was released on 2019-09-10 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The untold story of how FDR did the unthinkable to save the American economy.
How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy.
Book Synopsis Why Not Default? by : Jerome E. Roos
Download or read book Why Not Default? written by Jerome E. Roos and published by Princeton University Press. This book was released on 2019-02-12 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy.
Book Synopsis Status of National Direct Student Loan Defaults as of June 30 ... by :
Download or read book Status of National Direct Student Loan Defaults as of June 30 ... written by and published by . This book was released on 1982 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Student Loan Defaults-- the Belmont Task Force Report by : United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education
Download or read book Student Loan Defaults-- the Belmont Task Force Report written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education and published by . This book was released on 1988 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Chapters in this volume describe morphology using four different frameworks that have an architectural property in common: they all use defaults as a way of discovering and presenting systematicity in the least systematic component of grammar. These frameworks - Construction Morphology, Network Morphology, Paradigm-function Morphology, and Word Grammar - display key differences in how they constrain the use and scope of defaults, and in the morphological phenomena that they address. An introductory chapter presents an overview of defaults in linguistics and specifically in morphology. In subsequent chapters, key proponents of the four frameworks seek to answer questions about the role of defaults in the lexicon, including: Does a defaults-based account of language have implications for the architecture of the grammar, particularly the proposal that morphology is an autonomous component? How does a default differ from the canonical or prototypical in morphology? Do defaults have a psychological basis? And how do defaults help us understand language as a sign-based system that is flawed, where the one to one association of form and meaning breaks down in the morphology?
Book Synopsis Defaults in Morphological Theory by : Nikolas Gisborne
Download or read book Defaults in Morphological Theory written by Nikolas Gisborne and published by Oxford University Press. This book was released on 2017 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapters in this volume describe morphology using four different frameworks that have an architectural property in common: they all use defaults as a way of discovering and presenting systematicity in the least systematic component of grammar. These frameworks - Construction Morphology, Network Morphology, Paradigm-function Morphology, and Word Grammar - display key differences in how they constrain the use and scope of defaults, and in the morphological phenomena that they address. An introductory chapter presents an overview of defaults in linguistics and specifically in morphology. In subsequent chapters, key proponents of the four frameworks seek to answer questions about the role of defaults in the lexicon, including: Does a defaults-based account of language have implications for the architecture of the grammar, particularly the proposal that morphology is an autonomous component? How does a default differ from the canonical or prototypical in morphology? Do defaults have a psychological basis? And how do defaults help us understand language as a sign-based system that is flawed, where the one to one association of form and meaning breaks down in the morphology?
Although the study of reasons plays an important role in both epistemology and moral philosophy, little attention has been devoted to the question of how, exactly, reasons interact to support the actions or conclusions they do. In this book, John F. Horty attempts to answer this question by providing a precise, concrete account of reasons and their interaction, based on the logic of default reasoning. The book begins with an intuitive, accessible introduction to default logic itself, and then argues that this logic can be adapted to serve as a foundation for a concrete theory of reasons. Horty then shows that the resulting theory helps to explain how the interplay among reasons can determine what we ought to do by developing two different deontic logics, capturing two different intuitions about moral conflicts. In the central part of the book, Horty elaborates the basic theory to account for reasoning about the strength of our own reasons, and also about the related concepts of undercutting defeaters and exclusionary reasons. The theory is illustrated with an application to particularist arguments concerning the role of principles in moral theory. The book concludes by introducing a pair of issues new to the philosophical literature: the problem of determining the epistemic status of conclusions supported by separate but conflicting reasons, and the problem of drawing conclusions from sets of reasons that can vary arbitrarily in strength, or importance.
Book Synopsis Reasons as Defaults by : John F. Horty
Download or read book Reasons as Defaults written by John F. Horty and published by Oxford University Press. This book was released on 2012-01-31 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the study of reasons plays an important role in both epistemology and moral philosophy, little attention has been devoted to the question of how, exactly, reasons interact to support the actions or conclusions they do. In this book, John F. Horty attempts to answer this question by providing a precise, concrete account of reasons and their interaction, based on the logic of default reasoning. The book begins with an intuitive, accessible introduction to default logic itself, and then argues that this logic can be adapted to serve as a foundation for a concrete theory of reasons. Horty then shows that the resulting theory helps to explain how the interplay among reasons can determine what we ought to do by developing two different deontic logics, capturing two different intuitions about moral conflicts. In the central part of the book, Horty elaborates the basic theory to account for reasoning about the strength of our own reasons, and also about the related concepts of undercutting defeaters and exclusionary reasons. The theory is illustrated with an application to particularist arguments concerning the role of principles in moral theory. The book concludes by introducing a pair of issues new to the philosophical literature: the problem of determining the epistemic status of conclusions supported by separate but conflicting reasons, and the problem of drawing conclusions from sets of reasons that can vary arbitrarily in strength, or importance.
Emerging countries that have defaulted on their debt repayment obligations in the past are more likely to default again in the future than are non-defaulters even with the same external debt-to-GDP ratio. These countries actually have repeated defaults or restructurings in short periods. This paper explains these stylized facts within a dynamic stochastic general equilibrium framework by explicitly modeling renegotiations between a defaulting country and its creditors. The quantitative analysis of the model reveals that the equilibrium probability of default for a given debt-to-GDP level is weakly increasing with the number of past defaults. The model also accords with an additional fact: lower recovery rates (high NPV haircuts) are associated with increases in spreads at renegotiation.
Book Synopsis Serial Sovereign Defaults and Debt Restructurings by : Mr.Tamon Asonuma
Download or read book Serial Sovereign Defaults and Debt Restructurings written by Mr.Tamon Asonuma and published by International Monetary Fund. This book was released on 2016-03-21 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging countries that have defaulted on their debt repayment obligations in the past are more likely to default again in the future than are non-defaulters even with the same external debt-to-GDP ratio. These countries actually have repeated defaults or restructurings in short periods. This paper explains these stylized facts within a dynamic stochastic general equilibrium framework by explicitly modeling renegotiations between a defaulting country and its creditors. The quantitative analysis of the model reveals that the equilibrium probability of default for a given debt-to-GDP level is weakly increasing with the number of past defaults. The model also accords with an additional fact: lower recovery rates (high NPV haircuts) are associated with increases in spreads at renegotiation.
Book Synopsis Defaults in the Federal Guaranteed Student Loan Programs by : United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education
Download or read book Defaults in the Federal Guaranteed Student Loan Programs written by United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education and published by . This book was released on 1988 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Beyond Defaults written by and published by . This book was released on 1991 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Defaults on FHA-insured Mortgages (Detroit). by : United States. Congress. House. Committee on Government Operations. Legal and Monetary Affairs Subcommittee
Download or read book Defaults on FHA-insured Mortgages (Detroit). written by United States. Congress. House. Committee on Government Operations. Legal and Monetary Affairs Subcommittee and published by . This book was released on 1972 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt:
