80,165 research outputs found

    Optimal Sterilization Policies in Interdependent Economies

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    In this paper, a two-country leader-follower model with imperfect asset substitution is used to derive the optimal sterilization coefficients for two-country flexible and fixed exchange rate regimes. It is found that, in general, incomplete sterilization is optimal. However, both the origin and the type of macroeconomic shocks the economies experience are important in determining the appropriate degree of sterilization. We also find that sterilization policies have spill-over effects (strategic complements) in both cases. Thus, in a competitive policy-making environment, greater sterilization by one country leads to greater sterilization by the other country. Further, the impact of increasing capital market integration is examined in particular. We show that greater integration compounds this problem, leading to full sterilization as the optimal outcome under perfect capital mobility

    Two-Country Models of Monetary and Fiscal Policy: What Have We Learned? What More Can We Learn?

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    This paper surveys the literature that uses two-country models to analyze monetary and fiscal policy issues faced in interdependent economies. We discuss sources of structural interdependence that researchers typically include in these models. We describe many of the types of policy interactions that researchers have considered and summarize the key results that they have obtained. Finally, we briefly explain the limitations of two-country models and outline directions that this literature might usefully be extended

    UNH Welcomes All To Homecoming Oct 15 17

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    UNH Reunion Welcomes Back Alumni

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    The Tenured Guy and the Chalk-Throwing Incident

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    Corporate manslaughter and the company director

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    On the 6th April, 2008, long-awaited legislation comes into force which will change the face of corporate accountability for manslaughter. From sullen grumblings as far back as 1912 in the wake of the Titanic disaster, there has been growing concern that corporate manslaughter directly or indirectly threatens the security or well-being of society, and that it is not safe to leave it redressable only by compensation in civil proceedings. Following the failure of the prosecution of the shipowner in the case of the Herald of Free Enterprise, the call for a change in the law demanded action and, with the failure of the prosecution of Great Western Trains in the Southall crash, that call became irresistible. This paper examines the current law of manslaughter from the intimate position of the company director, and the rĂ´le which they have played in the conception and birth of the Corporate Manslaughter and Corporate Homicide Act 2007

    Women's Financial Inclusion in Africa

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    The financial exclusion of women is a global problem with 'more than 1.3 billion women in the world operating outside the formal financial system' (Demirguc-Kunt, Klapper & Singer, 2013: 2). This situation is mirrored in Africa where more than 70 percent of women are financially excluded and where women's access to finance and financial services is consistently behind that of their male counterparts (MFW4A, GIZ & New Faces New Voices, 2012). Accelerating women's financial inclusion thus requires bold and sustained action to advance women's economic opportunities and rights and to ensure that they can meaningfully participate in the economy without undue constraints and barriers that limit their progress. This paper examines the persistent challenges women face in accessing finance and financial services, why gender-specific barriers exist and what they are, factors that will contribute to removing these barriers and why women require more innovative support from the financial sector to transcend these barriers and harness their full economic potential
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