Introduction: new research in monetary history - A map

This handbook aims to provide a comprehensive (though obviously not exhaustive) picture of state-of-the-art international scholarship on the history of money and currency. The chapters of this handbook cover a wide selection of research topics. They span chronologically from antiquity to nowadays and are geographically stretched from Latin America to Asia, although most of them focus on Western Europe and the USA, as a large part of the existing research does. The authors of these chapters constitute, we hope, a balanced sample of various generations of scholars who contributed to what Barry Eichengreen defined as "the new monetary and financial history" – an approach that combines the analysis of monetary aggregates and policies with the structure and dynamics of the banking sector and financial markets. We have structured this handbook in ten broad thematic parts: the historical origins of money; money, coinage, and the state; trade, money markets, and international currencies; money and metals; monetary experiments; Asian monetary systems; exchange rate regimes; monetary integration; central banking and monetary policy; and aggregate price shocks. In this introduction, we offer for each part some historical context, a few key insights from the literature, and a brief analytical summary of each chapter. Our aim is to draw a map that hopefully will help readers to organize their journey through this very wide and diverse research area

An investigation into the application of fuzzy logic control to industrial gas turbines

This paper investigates the feasibility benefits of applying fuzzy logic control (FLC) strategies for use with industrial gas turbines. Our main objective is to investigate different designs methods, design implement an FLC strategy, plant simulation in a test environment optimize the FLC, conduct tests to compare the FLC with conventional controls in scenarios relevant to the application. We have designed, implemented, and tested our simulation to the exhaust temperature control problem of a gas turbine problem. The FLC, plant simulation, existing control configuration, and integrated test environment were developed in Java. Heuristic methods were used to optimize the FLC, which proved time consuming. The paper illustrates that while implementation of the FLC is feasible, it requires more effort than the conventional controls examined

The evolution of monetary policy (goals and targets) in Western Europe

This chapter charts the evolution of monetary policy in the United Kingdom, France, and Germany since the late nineteenth century. It shows how the monetary authorities in the three largest European economies transitioned from the classical gold standard through the gold exchange standard and the Bretton Woods regime to European Monetary Union, while dealing with war, reconstruction, and inflation along the way. It outlines the changing goals of monetary policy and the targets, instruments, and devices deployed to achieve those goals. In doing so, it highlights the constraints within which policy makers operated under different monetary regimes

Sowing the seeds for the subprime crisis: does global liquidity matter for housing and other asset prices?

E31, E52, F01, F42, Asset prices, Global liquidity, House prices, International spillovers, Stock prices, VAR analysis,