LEADER 03980nam 2200661 a 450 001 996211815903316 005 20210429234424.0 010 $a1-282-08700-2 010 $a9786612087004 010 $a1-4008-2785-X 024 7 $a10.1515/9781400827855 035 $a(CKB)1000000000756274 035 $a(EBL)445561 035 $a(OCoLC)331083082 035 $a(SSID)ssj0000158146 035 $a(PQKBManifestationID)11166117 035 $a(PQKBTitleCode)TC0000158146 035 $a(PQKBWorkID)10145183 035 $a(PQKB)10201757 035 $a(MdBmJHUP)muse36325 035 $a(DE-B1597)446878 035 $a(OCoLC)979578587 035 $a(DE-B1597)9781400827855 035 $a(Au-PeEL)EBL445561 035 $a(CaPaEBR)ebr10284033 035 $a(CaONFJC)MIL208700 035 $a(MiAaPQ)EBC445561 035 $a(EXLCZ)991000000000756274 100 $a20070424d2007 uy 0 101 0 $aeng 135 $aur|nu---|u||u 181 $ctxt 182 $cc 183 $acr 200 10$aFree trade reimagined$b[electronic resource] $ethe world division of labor and the method of economics /$fRoberto Mangabeira Unger 205 $aCourse Book 210 $aPrinceton $cPrinceton University Press$dc2007 215 $a1 online resource (240 p.) 300 $aDescription based upon print version of record. 311 $a0-691-14588-1 311 $a0-691-13429-4 320 $aIncludes bibliographical references and indexes. 327 $tFront matter --$tContents --$tThemes and Scope of this Book --$tChapter 1. Troubles: The Enigmas of Free Trade --$tChapter 2. Troubles: The Incompleteness of Comparative Advantage --$tChapter 3. Ideas --$tChapter 4. Theses --$tChapter 5. Proposals --$tThe Troubles of Free Trade and the Possibilities of Economics --$tName Index --$tSubject Index 330 $aFree Trade Reimagined begins with a sustained criticism of the heart of the emerging world economy, the theory and practice of free trade. Roberto Mangabeira Unger does not, however, defend protectionism against free trade. Instead, he attacks and revises the terms on which the traditional debate between free traders and protectionists has been joined. Unger's intervention in this major contemporary debate serves as a point of departure for a proposal to rethink the basic ideas with which we explain economic activity. He suggests, by example as well as by theory, a way of understanding contemporary economies that is both more realistic and more revealing of hidden possibilities for transformation than are the established forms of economics. One message of the book is that we need not choose between accepting and rejecting globalization; we can have a different globalization. Traditional free trade doctrine rests on shaky empirical and theoretical ground. Unger takes a new approach to show when international trade is likely to be useful or harmful to the socially inclusive economic growth that every nation wants. Another message is that the movement of people and ideas is more important than the movement of things and money, and that freedom to change the institutions defining a market economy is just as important as freedom to exchange goods on the basis of those institutions. Free Trade Reimagined ranges broadly within and outside economics. Presenting technical issues in plain language, it appeals to the general reader. It puts a disciplined imagination in the service of rebellion against the dictatorship of no alternatives that characterizes life and thought today. 606 $aFree trade 606 $aGlobalization$xEconomic aspects 615 0$aFree trade. 615 0$aGlobalization$xEconomic aspects. 676 $a382/.71 686 $a83.42$2bcl 700 $aUnger$b Roberto Mangabeira$0143449 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a996211815903316 996 $aFree trade reimagined$91942440 997 $aUNISA LEADER 06674oam 22013934 450 001 9910964619803321 005 20250426110107.0 010 $a9781498397629 010 $a149839762X 010 $a9781498304153 010 $a149830415X 035 $a(CKB)3710000000373839 035 $a(EBL)1983703 035 $a(SSID)ssj0001466558 035 $a(PQKBManifestationID)11834961 035 $a(PQKBTitleCode)TC0001466558 035 $a(PQKBWorkID)11505825 035 $a(PQKB)11515816 035 $a(MiAaPQ)EBC1983703 035 $a(Au-PeEL)EBL1983703 035 $a(CaPaEBR)ebr11027497 035 $a(CaONFJC)MIL740891 035 $a(OCoLC)905985521 035 $a(IMF)WPIEA2015027 035 $aWPIEA2015027 035 $a(EXLCZ)993710000000373839 100 $a20020129d2015 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aAsset Bubbles : $eRe-thinking Policy for the Age of Asset Management /$fBradley Jones 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2015. 215 $a1 online resource (60 pages) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 0 $a9781475576207 311 0 $a147557620X 320 $aIncludes bibliographical references. 327 $aCover; Abstract; Contents; I. Introduction; Figures; Figure 1. Worldwide Financial Assets and Institutional Assets; Figure 2. Bank Assets vs. Investment Firm Assets under Management; II. The 'Clean vs. Lean' Debate: A Survey; Tables; Table 1. Dimensions of the Traditional 'Clean vs. Lean' Debate; III. Theories of (In)Efficient Markets and Speculative Bubbles; A. Bubbles and the (In)Efficiency of Markets - A Review; B. Competing Models of Bubble Formation and Persistence; Table 2. Stylized Summary of Asset Pricing/Bubble Models; Figure 3. Benchmark Decomposition of Hedge Fund Returns 327 $aFigure 4. Subjective vs. Objective Expected Returns IV. Policy Implications; Table 3. Mapping Policy Responses to Bubble Models; Figure 5. Relative 10-year Annualized Out performance of Fundamental-based Indices; V. Concluding Remarks and Future Research 330 3 $aIn distilling a vast literature spanning the rational? irrational divide, this paper offers reflections on why asset bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more complete, and more heavily influenced by sophisticated (i.e. presumably rational) institutional investors. Candidate explanations for bubble persistence?such as limits to learning, frictional limits to arbitrage, and behavioral errors?seem unsatisfactory as they are inconsistent with the aforementioned trends impacting global capital markets. In lieu of the short-term nature of the asset owner?manager relationship, and the momentum bias inherent in financial benchmarks, I argue that the business risk of asset managers acts as strong motivation for institutional herding and ?rational bubble-riding.? Two key policy implications follow. First, procyclicality could intensify as institutional assets under management continue to grow. Second, remedial policies should extend beyond the standard suite of macroprudential and monetary measures to include time-invariant policies targeted at the cause (not just symptom) of the problem. Prominent among these should be reforms addressing principal-agent contract design and the implementation of financial benchmarks. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2015/027 606 $aAsset-liability management 606 $aFinancial risk management 606 $aMonetary policy 606 $aEconomic policy 606 $aFinance: General$2imf 606 $aFinancial Risk Management$2imf 606 $aMacroeconomics$2imf 606 $aFinancial Markets and the Macroeconomy$2imf 606 $aCentral Banks and Their Policies$2imf 606 $aFinancial Crises$2imf 606 $aInformation and Market Efficiency$2imf 606 $aEvent Studies$2imf 606 $aInternational Financial Markets$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aPrice Level$2imf 606 $aInflation$2imf 606 $aDeflation$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aEconomic & financial crises & disasters$2imf 606 $aFinance$2imf 606 $aAsset prices$2imf 606 $aAsset bubbles$2imf 606 $aAsset management$2imf 606 $aFinancial sector stability$2imf 606 $aStock markets$2imf 606 $aPrices$2imf 606 $aFinancial crises$2imf 606 $aAsset and liability management$2imf 606 $aFinancial sector policy and analysis$2imf 606 $aFinancial markets$2imf 606 $aAsset-liability management$2imf 606 $aFinancial services industry$2imf 606 $aStock exchanges$2imf 607 $aUnited States$2imf 615 0$aAsset-liability management. 615 0$aFinancial risk management. 615 0$aMonetary policy. 615 0$aEconomic policy. 615 7$aFinance: General 615 7$aFinancial Risk Management 615 7$aMacroeconomics 615 7$aFinancial Markets and the Macroeconomy 615 7$aCentral Banks and Their Policies 615 7$aFinancial Crises 615 7$aInformation and Market Efficiency 615 7$aEvent Studies 615 7$aInternational Financial Markets 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aPrice Level 615 7$aInflation 615 7$aDeflation 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aEconomic & financial crises & disasters 615 7$aFinance 615 7$aAsset prices 615 7$aAsset bubbles 615 7$aAsset management 615 7$aFinancial sector stability 615 7$aStock markets 615 7$aPrices 615 7$aFinancial crises 615 7$aAsset and liability management 615 7$aFinancial sector policy and analysis 615 7$aFinancial markets 615 7$aAsset-liability management 615 7$aFinancial services industry 615 7$aStock exchanges 676 $a332.10681 700 $aJones$b Bradley$042705 801 0$bDcWaIMF 906 $aBOOK 912 $a9910964619803321 996 $aAsset Bubbles$94372570 997 $aUNINA