Saturday, February 14, 2009

Transformation of the Welfare State or Monetary Unions and Hard Pegs

Transformation of the Welfare State: The Silent Surrender of Public Responsibility

Author: Neil Gilbert

How much has really changed in the world of welfare? A great deal, according to Neil Gilbert, one of our most deeply engaged and thoughtful analysts of social welfare policy. In this panoramic inquiry, Gilbert spans the globe to assess, in provocative yet dispassionate fashion, what welfare looks like in a free market world. From Sweden to the U.S., Gilbert finds a fundamental transformation in the welfare state--a turn away from broad-based entitlements and automatic benefits to a new, "enabling" approach defined by policies designed to promote privatization and labor force participation. He provides tangible evidence of how these new systems promote work and responsibility over protection and how they thicken the glue of civil society by diluting the pervasive role of government.

Interesting book: Warum Leute Dinge Kaufen, Brauchen Sie nicht: Das Verstehen und Voraussagen des Verbraucherverhaltens

Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability

Author: George M von Furstenberg

This book analyzes formal approaches to overcoming monetary divisions within countries and within integrating regions, focusing on the consequences of monetary union for trade among union members and their financial development and stability. The authors discuss hard pegs such as those attempted by the currency board of Argentina, outright dollarization, such as in Ecuador, and multilateral monetary union, as in Europe, the least reversible form of monetary union and the most powerful elixir of financial integration and trade.

Table of Contents:
List of figures
List of tables
Notes on contributors
1Editorial introduction to the volume and detailed introductions to each of its four parts1
Pt. ICurrent and past concepts of monetary union
2Euroization, dollarization, and the international monetary system27
3Unilateral and multilateral currency unions : thoughts from an EMU perspective41
4International money and common currencies in historical perspective51
Pt. IITrade and price effects of monetary union
5Geography, trade, and currency union69
6Comparing apples and oranges : the effect of multilateral currency unions on trade89
7The effects of common currencies on international trade : a meta-analysis101
8Common currencies and market integration across cities : how strong is the link?113
Pt. IIIMonetary integration in Latin America
9Trade agreements, exchange rate disagreements135
10Sudden stops, the real exchange rate, and fiscal sustainability : Argentina's lessons151
11Living and dying with hard pegs : the rise and fall of Argentina's currency board183
12The anatomy of a multiple crisis : why was Argentina special and what can we learn from it?231
Pt. IVCommon monies, political interests, and infrastructure
13America's interest in dollarization289
14Dollarization and euroization in transition countries : currency substitution, asset substitution, network externalities, and irreversibility303
15Electronic money and the optimal size of monetary unions321
16Currency substitution in anticipation of EU accession337
17Allocating lending of last resort and supervision in the Euro area347
Name index361
Subject index

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