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Risking Free Trade

Author: Michael Lusztig

Publisher: University of Pittsburgh Press

Published: 2010-11-23

Total Pages: 193

ISBN-13: 0822974789

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There are few issues as politically explosive as the liberalization of trade, as recent controversies in the United States, Canada, and Mexico have shown. While loosening trade restrictions may make sense for a nation's economy as a whole, it typically alienates powerful vested interests. Those interests can exact severe political costs for the government that enacts change. So why accept the risk?Michael Lusztig contructs a model to determine why and under what conditions governments will take the free trade gamble. Lusztig uses his model to explain shifts to free trade in four cases: Britain's repeal of the Corn Laws; the United States' enactment of the Reciprocal Trade Agreements Act (1934); Canada's decision to initiate continental free trade with the United States in 1985; and Mexico's decision to pursue the North American Free Trade Agreement (NAFTA) in 1990.

Book Synopsis Risking Free Trade by : Michael Lusztig

Download or read book Risking Free Trade written by Michael Lusztig and published by University of Pittsburgh Press. This book was released on 2010-11-23 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are few issues as politically explosive as the liberalization of trade, as recent controversies in the United States, Canada, and Mexico have shown. While loosening trade restrictions may make sense for a nation's economy as a whole, it typically alienates powerful vested interests. Those interests can exact severe political costs for the government that enacts change. So why accept the risk?Michael Lusztig contructs a model to determine why and under what conditions governments will take the free trade gamble. Lusztig uses his model to explain shifts to free trade in four cases: Britain's repeal of the Corn Laws; the United States' enactment of the Reciprocal Trade Agreements Act (1934); Canada's decision to initiate continental free trade with the United States in 1985; and Mexico's decision to pursue the North American Free Trade Agreement (NAFTA) in 1990.

The World Trading System at Risk

Author: Jagdish N. Bhagwati

Publisher:

Published: 1991

Total Pages: 170

ISBN-13:

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In this sequel to his work "Protectionism", Professor Bhagwati provides an analysis of the perils and promise facing the post-war global trading system. Embodied in the General Agreement on Tariffs and Trade (GATT), this system is currently in turbulence, buffeted by powerful centrifugal forces.

Book Synopsis The World Trading System at Risk by : Jagdish N. Bhagwati

Download or read book The World Trading System at Risk written by Jagdish N. Bhagwati and published by . This book was released on 1991 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this sequel to his work "Protectionism", Professor Bhagwati provides an analysis of the perils and promise facing the post-war global trading system. Embodied in the General Agreement on Tariffs and Trade (GATT), this system is currently in turbulence, buffeted by powerful centrifugal forces.

The Limits Of Protectionism

Author: Michael Lusztig

Publisher: University of Pittsburgh Pre

Published: 2010-06-15

Total Pages: 292

ISBN-13: 9780822972563

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Conventional wisdom holds that free trade is economically beneficial to nations. But this does not prevent industries and interest groups from lobbying their governments for protection, which creates a fear of electoral backlash among politicians hoping to promote free trade. The Limits of Protectionism demonstrates how governments can attain those economic benefits while avoiding the political costs.Michael Lusztig's theoretical model focuses on a process by which protectionists can be pushed to restructure and compete in a global economy. In this process, a small cutback in domestic protection leads to lost market shares at home; producers must then turn to overseas exports, and, as the size of foreign profits grow, former protectionists become active advocates for more and greater free trade opportunities.In a wide-ranging array of case studies—from nineteenth-century Britain to Depression-era United States to contemporary New Zealand, Australia, Brazil, Canada, Chile, and Mexico—Lusztig reveals that, if skillfully handled, governments can eliminate the obstacles to free trade and enjoy continued economic growth without fear of protectionist groups seeking revenge at the ballot box.

Book Synopsis The Limits Of Protectionism by : Michael Lusztig

Download or read book The Limits Of Protectionism written by Michael Lusztig and published by University of Pittsburgh Pre. This book was released on 2010-06-15 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional wisdom holds that free trade is economically beneficial to nations. But this does not prevent industries and interest groups from lobbying their governments for protection, which creates a fear of electoral backlash among politicians hoping to promote free trade. The Limits of Protectionism demonstrates how governments can attain those economic benefits while avoiding the political costs.Michael Lusztig's theoretical model focuses on a process by which protectionists can be pushed to restructure and compete in a global economy. In this process, a small cutback in domestic protection leads to lost market shares at home; producers must then turn to overseas exports, and, as the size of foreign profits grow, former protectionists become active advocates for more and greater free trade opportunities.In a wide-ranging array of case studies—from nineteenth-century Britain to Depression-era United States to contemporary New Zealand, Australia, Brazil, Canada, Chile, and Mexico—Lusztig reveals that, if skillfully handled, governments can eliminate the obstacles to free trade and enjoy continued economic growth without fear of protectionist groups seeking revenge at the ballot box.

Free Trade at Risk?

Author: Douglas A. Irwin

Publisher:

Published: 1990

Total Pages: 16

ISBN-13:

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Book Synopsis Free Trade at Risk? by : Douglas A. Irwin

Download or read book Free Trade at Risk? written by Douglas A. Irwin and published by . This book was released on 1990 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Managing Climate Risk in the U.S. Financial System

Author: Leonardo Martinez-Diaz

Publisher: U.S. Commodity Futures Trading Commission

Published: 2020-09-09

Total Pages: 196

ISBN-13: 057874841X

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This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742

Book Synopsis Managing Climate Risk in the U.S. Financial System by : Leonardo Martinez-Diaz

Download or read book Managing Climate Risk in the U.S. Financial System written by Leonardo Martinez-Diaz and published by U.S. Commodity Futures Trading Commission . This book was released on 2020-09-09 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742

Safety Net

Author: James K. Glassman

Publisher: Crown Currency

Published: 2011-02-22

Total Pages: 210

ISBN-13: 0307591271

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How can you construct a financial investment strategy to protect yourself … yet still get the growth to ensure a solid financial future and comfortable retirement during these turbulent times? By building an investing safety net that gives you the gains needed for growth – though more modest than those of past years – but protection against the downside. So when turbulence strikes again – and it will – you won’t re-live the financial nightmares of recent years when portfolios and 401Ks were devastated. Jim Glassman provides the specifics you need for shrewd asset allocation, specifically: Reduce stock ownership. For those stocks you do own, ensure they meet one of these criteria: pay dividends; are low-priced and from industries of the future; or companies based in aspiring nations such as India, Brazil and China. Make a substantial investment in bonds, especially US Treasury TIPS bonds and corporate bonds Hedge against decline by owning a bear fund that shorts the US economy. Own funds based on other currencies, thus protecting yourself against the potential declining value of the US dollar. And consider derivatives. Yes, derivatives! Specific stock, bond and fund recommendations and ample portfolios then provide the starter ideas for properly balancing a portfolio. And the 5 principles and 18 specific rules of “the new rule book” help keep “animal spirits” in check when fads and news flashes provide the temptation to make rash investing decisions that will be quickly regretted.

Book Synopsis Safety Net by : James K. Glassman

Download or read book Safety Net written by James K. Glassman and published by Crown Currency. This book was released on 2011-02-22 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can you construct a financial investment strategy to protect yourself … yet still get the growth to ensure a solid financial future and comfortable retirement during these turbulent times? By building an investing safety net that gives you the gains needed for growth – though more modest than those of past years – but protection against the downside. So when turbulence strikes again – and it will – you won’t re-live the financial nightmares of recent years when portfolios and 401Ks were devastated. Jim Glassman provides the specifics you need for shrewd asset allocation, specifically: Reduce stock ownership. For those stocks you do own, ensure they meet one of these criteria: pay dividends; are low-priced and from industries of the future; or companies based in aspiring nations such as India, Brazil and China. Make a substantial investment in bonds, especially US Treasury TIPS bonds and corporate bonds Hedge against decline by owning a bear fund that shorts the US economy. Own funds based on other currencies, thus protecting yourself against the potential declining value of the US dollar. And consider derivatives. Yes, derivatives! Specific stock, bond and fund recommendations and ample portfolios then provide the starter ideas for properly balancing a portfolio. And the 5 principles and 18 specific rules of “the new rule book” help keep “animal spirits” in check when fads and news flashes provide the temptation to make rash investing decisions that will be quickly regretted.

National Trade Estimate ... Report on Foreign Trade Barriers

Author: United States. Office of the U.S. Trade Representative

Publisher:

Published: 1991

Total Pages: 272

ISBN-13:

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Book Synopsis National Trade Estimate ... Report on Foreign Trade Barriers by : United States. Office of the U.S. Trade Representative

Download or read book National Trade Estimate ... Report on Foreign Trade Barriers written by United States. Office of the U.S. Trade Representative and published by . This book was released on 1991 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Banking and Trading

Author: Mr.Arnoud W.A. Boot

Publisher: International Monetary Fund

Published: 2012-10-02

Total Pages: 48

ISBN-13: 1475511213

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We study the effects of a bank's engagement in trading. Traditional banking is relationship-based: not scalable, long-term oriented, with high implicit capital, and low risk (thanks to the law of large numbers). Trading is transactions-based: scalable, shortterm, capital constrained, and with the ability to generate risk from concentrated positions. When a bank engages in trading, it can use its ‘spare’ capital to profitablity expand the scale of trading. However, there are two inefficiencies. A bank may allocate too much capital to trading ex-post, compromising the incentives to build relationships ex-ante. And a bank may use trading for risk-shifting. Financial development augments the scalability of trading, which initially benefits conglomeration, but beyond some point inefficiencies dominate. The deepending of the financial markets in recent decades leads trading in banks to become increasingly risky, so that problems in managing and regulating trading in banks will persist for the foreseeable future. The analysis has implications for capital regulation, subsidiarization, and scope and scale restrictions in banking.

Book Synopsis Banking and Trading by : Mr.Arnoud W.A. Boot

Download or read book Banking and Trading written by Mr.Arnoud W.A. Boot and published by International Monetary Fund. This book was released on 2012-10-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effects of a bank's engagement in trading. Traditional banking is relationship-based: not scalable, long-term oriented, with high implicit capital, and low risk (thanks to the law of large numbers). Trading is transactions-based: scalable, shortterm, capital constrained, and with the ability to generate risk from concentrated positions. When a bank engages in trading, it can use its ‘spare’ capital to profitablity expand the scale of trading. However, there are two inefficiencies. A bank may allocate too much capital to trading ex-post, compromising the incentives to build relationships ex-ante. And a bank may use trading for risk-shifting. Financial development augments the scalability of trading, which initially benefits conglomeration, but beyond some point inefficiencies dominate. The deepending of the financial markets in recent decades leads trading in banks to become increasingly risky, so that problems in managing and regulating trading in banks will persist for the foreseeable future. The analysis has implications for capital regulation, subsidiarization, and scope and scale restrictions in banking.

Measuring Market Risk

Author: Kevin Dowd

Publisher: John Wiley & Sons

Published: 2003-02-28

Total Pages: 395

ISBN-13: 0470855215

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The most up-to-date resource on market risk methodologies Financial professionals in both the front and back office require an understanding of market risk and how to manage it. Measuring Market Risk provides this understanding with an overview of the most recent innovations in Value at Risk (VaR) and Expected Tail Loss (ETL) estimation. This book is filled with clear and accessible explanations of complex issues that arise in risk measuring-from parametric versus nonparametric estimation to incre-mental and component risks. Measuring Market Risk also includes accompanying software written in Matlab—allowing the reader to simulate and run the examples in the book.

Book Synopsis Measuring Market Risk by : Kevin Dowd

Download or read book Measuring Market Risk written by Kevin Dowd and published by John Wiley & Sons. This book was released on 2003-02-28 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most up-to-date resource on market risk methodologies Financial professionals in both the front and back office require an understanding of market risk and how to manage it. Measuring Market Risk provides this understanding with an overview of the most recent innovations in Value at Risk (VaR) and Expected Tail Loss (ETL) estimation. This book is filled with clear and accessible explanations of complex issues that arise in risk measuring-from parametric versus nonparametric estimation to incre-mental and component risks. Measuring Market Risk also includes accompanying software written in Matlab—allowing the reader to simulate and run the examples in the book.

Mr. Balfour's Pamphlet

Author: Harold Cox

Publisher: London : T.F. Unwin

Published: 1903

Total Pages: 42

ISBN-13:

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Book Synopsis Mr. Balfour's Pamphlet by : Harold Cox

Download or read book Mr. Balfour's Pamphlet written by Harold Cox and published by London : T.F. Unwin. This book was released on 1903 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: