14,286 research outputs found
The new resilience of emerging and developing countries: systemic interlocking, currency swaps and geoeconomics
The vulnerability/resilience nexus that defined the interaction between advanced and developing economies in the post-WWII era is undergoing a fundamental transformation. Yet, most of the debate in the current literature is focusing on the structural constraints faced by the Emerging and Developing Countries (EDCs) and the lack of changes in the formal structures of global economic governance. This paper challenges this literature and its conclusions by focusing on the new conditions of systemic interlocking between advanced and emerging economies, and by analysing how large EDCs have built and are strengthening their economic resilience. We find that a significant redistribution of âpolicy spaceâ between advanced and emerging economies have taken place in the global economy. We also find that a number of seemingly technical currency swap agreements among EDCs have set in motion changes in the very structure of global trade and finance. These developments do not signify the end of EDCsâ vulnerability towards advanced economies. They signify however that the economic and geoeconomic implications of this vulnerability have changed in ways that constrain the options available to advanced economies and pose new challenges for the post-WWII economic order
Globalisation, labour markets and international adjustment - Essays in honour of Palle S Andersen
Modelling aspects of the inflation process and the monetary transmission mechanism in emerging market countries
Real root finding for equivariant semi-algebraic systems
Let be a real closed field. We consider basic semi-algebraic sets defined
by -variate equations/inequalities of symmetric polynomials and an
equivariant family of polynomials, all of them of degree bounded by .
Such a semi-algebraic set is invariant by the action of the symmetric group. We
show that such a set is either empty or it contains a point with at most
distinct coordinates. Combining this geometric result with efficient algorithms
for real root finding (based on the critical point method), one can decide the
emptiness of basic semi-algebraic sets defined by polynomials of degree
in time . This improves the state-of-the-art which is exponential
in . When the variables are quantified and the
coefficients of the input system depend on parameters , one
also demonstrates that the corresponding one-block quantifier elimination
problem can be solved in time
Crisis? What crisis? A critical appraisal of World Bank housing policy in the wake of the global financial crisis
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