{"title":"International business in a changing world environment","authors":"J. Dunning","doi":"10.4324/9780203076231-8","DOIUrl":"https://doi.org/10.4324/9780203076231-8","url":null,"abstract":"The paper considers some aspects of the interface between international business - primarily in the guise of the multinational enterprise - and the Governments of the countries which are host to its activities. Furthermore, it takes into account the changing world economic and political scenario. The author outlines why, how and in what ways this interface has been shaped by, or has shaped, the events of the past 25 years, before speculating about the prospects for the remainder of the 20th century.","PeriodicalId":44488,"journal":{"name":"PSL Quarterly Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2013-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70574557","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The future of the international monetary system","authors":"R. Triffin","doi":"10.4337/9781843767343.00017","DOIUrl":"https://doi.org/10.4337/9781843767343.00017","url":null,"abstract":"The work argues that neither stable, nor floating exchange rates can function satisfactorily in the absence of any international control, and restraints, over the fantastic explosion of international liquidity provided to the market, in recent years, by the monetary authorities and the commercial banking system. The author focuses on the inflationary aspects of this phenomenon, neglecting the problems of recession and unemployment.","PeriodicalId":44488,"journal":{"name":"PSL Quarterly Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2013-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70712189","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A role for the International Monetary Fund in economic development","authors":"G. Bird","doi":"10.1007/978-1-349-09588-9_4","DOIUrl":"https://doi.org/10.1007/978-1-349-09588-9_4","url":null,"abstract":"","PeriodicalId":44488,"journal":{"name":"PSL Quarterly Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2013-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"51734609","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Recollections of professional experiences","authors":"J. Tinbergen","doi":"10.1007/978-1-349-09773-9_5","DOIUrl":"https://doi.org/10.1007/978-1-349-09773-9_5","url":null,"abstract":"","PeriodicalId":44488,"journal":{"name":"PSL Quarterly Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2013-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"51735097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Volatility spillovers and the role of leading financial centres","authors":"Giulio Ciffarelli, G. Paladino","doi":"10.13133/2037-3643/9928","DOIUrl":"https://doi.org/10.13133/2037-3643/9928","url":null,"abstract":"This paper investigates volatility spillovers between eleven equity markets located in Europe, Asia, Latin America and the US from July 1992 to July 1999. The absolute value of stock returns is adopted as volatility index. The VAR methodology--duly adjusted in order to account for differences in market trading times--is used to examine volatility dependencies across the Asian crisis and to simulate the way local volatilityresponds to a shock in another market using impulse response and variance decomposition analyses. These techniques are implemented on VAR residuals previously filtered with GARCH(1,1) models, as the inference requires normal iid residuals. The evidence suggests that the US market plays a crucial role in transferring news, and arole that varies over time, growing in Asia and declining in Europe. Moreover, there is evidence of discernible differences in the pattern of volatility transmission during the crisis as the dimension and number of volatility spillovers increases--a clear symptom of contagion across markets. JEL Codes: G15, G12, O16 Keywords: Stock Returns, Stocks","PeriodicalId":44488,"journal":{"name":"PSL Quarterly Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2012-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66230043","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"MACROECONOMICS IN DEVELOPING COUNTRIES","authors":"Deepak Nayyar","doi":"10.4324/9780203027530","DOIUrl":"https://doi.org/10.4324/9780203027530","url":null,"abstract":"This essay analyzes the differences between the economies of industrialized countriesand developing countries, which have important implications for macroeconomics in terms of theory and policy. It considers the differences in macroeconomic objectives and examines why the reach of macroeconomic policies is different in the two sets ofcountries. It argues that the distinction between short-run macroeconomic models and long-term growth models is not quite appropriate for developing countries, where macroeconomic constraints on growth straddle time horizons and short-term policies have long-term consequences. The essential hypothesis is that the nature of relationships and the direction of causation in macroeconomics, which shape analysis, diagnosis and prescription, depend on the institutional setting and not the analytical structure of models. And even if some laws of economics are universal, the functioning of economies can be markedly different. Therefore, economic theory and policy analysis should recognize, rather than ignore, such myriad differences. JEL Codes: A11, E52, E62, O11, O23 Keywords: Developing Countries, Economics, Macroeconomic Model, Macroeconomics, Policy","PeriodicalId":44488,"journal":{"name":"PSL Quarterly Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2007-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70568398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"How much of John Maynard Keynes can we find in Franco Modigliani","authors":"L. Pasinetti","doi":"10.1427/21774","DOIUrl":"https://doi.org/10.1427/21774","url":null,"abstract":"Franco Modigliani's first published paper became one of the basic documents of modern Keynesian economics. In it he formalized the model (or at least one model) implicit in The General Theory. Modigliani argued that the characteristic Keynesian conclusions rest fundamentally on the (realistic) rigidity of nominal wages. In particular, he showed that if wages and prices were flexible, the liquidity preference theory of money could not generate persistent involuntary unemployment, but if wages were rigid, even the quantity theory of money could do so. Sixty years laterModigliani returned to a statement of \"the Keynesian gospel\" and proposed essentially the same interpretation. This paper reviews and discusses this approach to macroeconomics, with some reference to its implications for policy.","PeriodicalId":44488,"journal":{"name":"PSL Quarterly Review","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2005-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66859128","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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