by
Lee, Bernard.
Call Number
332.67252 23
Publication Date
2014
Summary
Consider these phenomena: savers at surplus countries are often "penalized" by astronomical consumer prices, while spenders at debtor countries enjoy bargain basement prices; Silicon Valley continues to be the global leader in R & D and innovation despite chaos in public finance; and surplus countries worry about holding potentially worthless IOUs issued by elected debtor governments. In this book, Professor Lee has tried to better understand sovereign wealth management in the context of saver and debtor countries, by presenting a unified model that can explain these observed phenomena. His attempt is a clear departure from traditional theories, in which these observations would be considered aberrations from "standard assumptions". Although no model is perfect, this new framework can be useful to explain why, for example, it will be bad economic news for all if saver countries use their public surpluses to hoard food and fuel. This accessible book is built from a scholarly paper presented by Professor Lee at the venerable Annual Meeting of the American Economic Association.
Format:
Electronic Resources
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by
Brenner, Reuven.
Call Number
306.482
Publication Date
2008
Summary
Although financial markets often try to distance themselves from gambling, the two factors have far more in common than usually thought. When, historically, there were no financial institutions such as banks, lotteries constituted the ways by which expensive items were disposed of, and governments raised money quickly. Gambling tables fulfilled roles that venture capital and banking do today. 'Gamblers' created clearinghouses and sustained liquidity. When those gamblers bet on price distributions in futures markets, they were redefined as 'speculators'. Today they are called 'hedge fund manage
Format:
Electronic Resources
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