Suchergebnisse

Homeownership, a primary component of household wealth, confers benefits not just in terms of the value of home equity itself, but also the tax benefits and inflation protection associated with owning property. The 1990s represented a booming time in the economy and record low interest rates which allowed homeownership to become more available to more people than ever. As a result, the US housing market experienced significant growth and home values began to soar in part due to rising incomes. However, this period of rapid expansion in the housing market was followed by a rapid decline, precipitated by the recession, as home values began to plummet and foreclosures steadily increased. This study examines the impact that recent macroeconomic fluctuations had on the likelihood of homeownership for African American women compared to their white counterparts. Using data from the American Housing Survey (1997–2009), this tenure spatial analysis used a logistic regression model to examine the odds in favor of homeownership during economic fluctuations along with taking into consideration other important determinants. The empirical results show that there are significant differences in the likelihood of homeownership between African American women and white females.

Prior research has found evidence of large racial and gender disparities in wealth, with blacks possessing less wealth than whites and women having less wealth than men. An intersectionality approach suggests that the overlapping impacts of racial and gender domination are likely to combine in a multiplicative fashion that places black women in a uniquely precarious economic position. However, little is known about the wealth holdings of black women and even less is known about whether their wealth increases, decreases or remains stable as they approach retirement age, a stage of life when savings are especially important. This study utilizes seven waves of panel data from the Health and Retirement Study (HRS) and growth curve models to estimate the wealth trajectories of black women between the ages of 51 and 73. Results reveal that black women have especially low levels of net worth and net financial assets during middle and late life, suggesting high risk of economic insecurity in later life. Consistent with political economy and intersectionality perspectives, their persistently low wealth trajectories are likely the result of state policies, discrimination, residential segregation and health disparities. Ameliorative policy prescriptions are discussed.

This is an extensive survey of worldwide developments in the area of monetary policymaking institutions during the second half of the twentieth century and beyond. In addition the last section discusses current open issues and future challenges. Section 2 reviews the changes that have occurred in the area of central bank independence (CBI) during the last twenty years, discusses reasons for those developments and provides an overview of accumulated empirical evidence on the relation between CBI and the performance of the economy. Section 3 discusses lessons from stabilization of inflation, reviews the evidence and implications of asymmetric central bank objectives and considers the issue of CBI within the broader context of choosing a nominal anchor. Section 4 reviews the impact of independence on economic performance in the presence of labor unions. Section 5 considers future challenges facing modern central banks. The discussion presumes that CBI and price stability are here to stay and focuses on issues relating to the conduct of monetary policy by independent central banks in an era of price stability, like the risks associated with flexible inflation targeting and the impact of central bank capital and finances on its independence. [Copyright 2008 Elsevier B.V.]

The hypothesis of this paper is that the circular economy (CE) has the potential to (re)balance the conflict within urban spatial planning between &lsquo ; place as a location&rsquo ; and the &lsquo ; organization of space&rsquo ; . The former dominates the latter following a shift from a Fordist towards a finance and real-estate driven regime. A consequence is that existing manufacturing areas are increasingly transformed into residential and commercial areas. However, this conflicts with the rationale of CE, namely that to end the linear economy, externalized activities, such as the (re)manufacturing of waste, should be internalized again, especially within urban regions. Emphasized by the EU, The Netherlands have the ambition to become fully circular in 2050. To test our hypothesis, we focus on two ongoing circular area developments in Amsterdam and Utrecht. By performing a discourse-institutional analysis, we detect in both case studies a change in discourse towards CE. Our results show that in contrast to our hypothesis, the concept of circularity is not emphasizing the &lsquo ; organization of space&rsquo ; but even accelerating &lsquo ; space as a location&rsquo ; increasingly transforming urban industrial areas into circular built residential and commercial areas. We conclude with spatial policy recommendations regarding the ambitions of a future CE.

Research has shown that foreign direct investments benefit the economic development of a host country. However, numerous examples of an inadequate investment structure point to the possible damages for an economic, as well as socio- political development of a country. The purpose of this paper is to looks into the structure of total foreign direct investments realised in the Republic of Croatia and, by using scientific methods, analyse the importance and the effect of foreign direct investments on the Croatian economy. Through following world's the best practice, the paper offers a comparative analysis of the Republic of Croatia and the countries of the region, with the purpose of identifying the institutional obstacles for investment and producing a detailed SWOT analysis of the Republic of Croatia as an investment destination. Despite numerous existing conventions and protocols, a desired degree of adjustment to international conventions has not yet been achieved, which hinders investment. The Government should create a protection mechanism in order to keep the investors in the times of crisis, as well as policy of attracting the strategically oriented investments that will facilitate long-term economic growth. The first method through which it is possible to define a strategy of attracting strategically oriented investments into the economy, is the qualitative identification of the Republic of Croatia as an investment destination through SWOT analysis.

The book describes the context within which the Common Agricultural Policy of the European Union has been established, the basic mechanisms of the policy for the main sectors of agricultural production and their adaptation over time in line with changes in the broader world economy; the changes in Eastern Europe, the problems of developing countries and the GATT-WTO Agreement in particular. An introduction by Franz Fischler, European Commissioner with responsibility for Agriculture, sets the scene for Community policy beyond 2000.

Leaking water infrastructures, heritage tourism, investments in artworks, failing electronics: Durability lies at the heart of a wide range of seemingly unrelated phenomena. In today's economies, which rest on ever-larger stocks of infrastructures, buildings, machinery and household goods, durable things are both a hugely significant source of wealth and a constant source of struggle. The contributors argue that a deeper engagement with durability is essential for reaching an understanding of how economies work; and for envisaging alternative economies built on principles of environmental stewardship and social justice. Placing durability at the core of economic analysis, this volume explores the work and tensions involved in the production and valuation of durability to outline a new agenda for more sustainable economies.

Wer heute ein Fahrzeug oder eine Maschine reparieren will, braucht Zugriff auf Daten und Schnittstellen. Für viele Handwerksunternehmen wird "Zugang" zur Schlüsselfrage der digitalen Wirtschaft. In dieser Studie wird herausgearbeitet, welche Regeln derzeit dafür gelten. Dabei zeigt sich: Es besteht das Risiko, dass künftig digitale Gatekeeper entscheiden, wer überhaupt noch Kontakt zum Kunden erhält. Jura-Professor Rupprecht Podszun, Experte für Wettbewerb in der Plattformökonomie, erläutert den aktuellen Rechtsrahmen und präsentiert Vorschläge, um offene Märkte und Verbrauchersouveränität zu schützen. Das Buch ist eine Fundgrube für alle, die sich für die Rolle des Rechts in der Datenökonomie interessieren.

This paper analyzes empirically the relationship between civil wars and international trade. We first show that trade destruction due to civil wars is very large and persistent and increases with the severity of the conflict. We then identify two effects that trade can have on the risk of civil conflicts: it may act as a deterrent if trade gains are put at risk during civil wars but it may also act as an insurance if international trade provides a substitute to internal trade during civil wars. We find support for the presence of these two mechanisms and conclude that trade openness may deter the most severe civil wars (those that destroy the largest amount of trade) but may increase the risk of lower scale conflicts.

This paper analyzes empirically the relationship between civil wars and international trade. We first show that trade destruction due to civil wars is very large and persistent and increases with the severity of the conflict. We then identify two effects that trade can have on the risk of civil conflicts: it may act as a deterrent if trade gains are put at risk during civil wars but it may also act as an insurance if international trade provides a substitute to internal trade during civil wars. We find support for the presence of these two mechanisms and conclude that trade openness may deter the most severe civil wars (those that destroy the largest amount of trade) but may increase the risk of lower scale conflicts.

Nach einem allgemeinen Überblick über die Rolle des Staates bei der Entwicklung des post-kolonialen Afrika wird der spezifische somalische Fall mit seinen historischen und gesellschaftlichen Aspekten behandelt. Rückblick auf die britische und italienische Kolonialzeit. Perioden im unabhängigen Somalia. Zivilregierung, Militärregierung, Entwicklungshilfeleistungen und außenpolitische Orientierung. Schlußfolgerung: die Problematik des Landes liegt nicht in fehlenden einheimischen materiellen Ressourcen, sondern - zusätzlich zu den Restriktionen der weltwirtschaftlichen Rahmenbedingungen - in den gegenseitigen Machtkämpfen derjenigen, die das wirtschaftlich periphere Land nach der Unabhängigkeit übernommen haben. Wichtigstes Erfordernis ist die 'Privatisierung' der staatlichen bürokratischen Elite. (DÜI-Hlb)

The way we conceptualise the economy and ourselves as homo economicus has profound consequences for our lives. The contributions to this anthology take debates about the financial crisis, about recent austerity measures or about the Brexit referendum a step further. A common denominator of these dynamics are underlying ideas of »the economy«. Each author identifies a facet of Britain's imagined economies. They connect seemingly separate fields such as finance and fiction in order to better understand current political changes. In addition, the book offers an urgently needed interdisciplinary view on the performative power of economic thought - and in this respect moves far beyond merely British perspectives.