This book identifies the key factors that explain differing degrees of coherence in EU crisis management, and offers a comparative analysis of its peace operations in Africa. How does the European Union (EU) bridge the member states' varying interests and norms to play its desired role as a comprehensive international security actor? The past decades have shown that the degree to which the Union succeeds in this endeavour varies. This book identifies the key factors that explain differing degrees of coherence in EU crisis management. 'Coherence' is understood here as the absence of contradiction and existence of synergies between various EU and national crisis management policies, instruments, and activities geared towards a set of overarching objectives; it thus constitutes an essential precondition for EU security actorness. The analysis starts from the assumption that coherence is a function of competing and conflicting interests and norms. Overall, the book argues that the EU represents a rather unpredictable security actor, whose multi-level coherence depends on the context-specific balance between domestically defined economic and electoral interests and stakes on the one hand, and salient, embedded norms on the other. The influence and interaction of these factors across governance levels are viewed through two theoretical lenses: liberal intergovernmentalism and sociological institutionalism. The lenses are applied to three post-Lisbon cases of EU crisis management in Africa, namely Libya (2011), Somalia (2011-2012), and Mali (2012-13). The analysis traces the activities and interaction of EU institutional actors and member states, with a focus on France, the United Kingdom, and Germany. It shows that the degree of coherence in EU crisis management is contingent on the congruence of domestic economic and electoral interests, as well as national threat perceptions. But it also depends on the extent to which EU-level coherence norms resonate with national norms on the use of force and preferred modes of multilateral cooperation. In sum, this book offers systematic insight into EU crisis management and clarifies the conceptual and empirical boundaries of the comprehensive approach. Finally, the study of the micro-foundations of coherence allows for policy-relevant suggestions on the state of the art and future prospects of the Union's security actorness. This book will be of much interest to students of EU policy, European Security, Peace and Conflict Studies, African Politics and IR in general.
Written by a physicist with extensive experience as a quant on Wall Street, this book treats a wide variety of topics. Presenting the theory and practice of quantitative finance and risk, it delves into the "how to" and "what it's like" aspects not covered in textbooks or research papers. A "Technical Index" indicates the mathematical level for each chapter.This second edition includes some new, expanded, and wide-ranging considerations for risk management: climate change and its long-term systemic financial risk; markets in crisis - new crisis prediction technique and the Reggeon field theory; new "Smart Monte Carlo" and American Monte Carlo; trend risk - time scales and risk, the Macro-Micro model, and singular spectrum analysis; credit risk: counterparty risk, wrong way risk, issuer risk, and regulations; stressed correlations - new "nearest neighbor" techniques; and psychology and option models.Solid risk management topics from the first edition and valid today are included: standard/advanced theory and practice in fixed income, equities, and FX; quantitative finance and risk management - traditional/exotic derivatives, fat tails, stressed VAR, model risk, numerical techniques, deals/portfolios, systems, data, economic capital, and function toolkit; risk lab - the nuts and bolts of risk management from the desk to the enterprise; case studies of deals; Feynman path integrals, Green functions, and options; and "Life as a Quant" - communication issues, sociology, stories, and advice.
Japanese management is currently considered to be in crisis. This book analyzes the degree to which the Japanese management model is changing, in order to regain its competitiveness. It brings together up-to-date research on this important topic by a number of the best known American, Asian and European scholars of Japanese management. A broad variety of management areas such as strategy, corporate governance, globalization, organization, finance, HRM, production, innovation, organizational learning and retailing is covered.
Southern Europe has been hit hard by the global economic crisis and, as such, their welfare states have come under acute strain. Unmet need has sharply increased while significant welfare reforms and deep social spending cuts have been prominent in the crisis management solutions implemented by governments, labouring under EU constraints and the strict rescue-deal requirements for Greece and Portugal.
This volume provides a systematic comparative appraisal of welfare-state reform trajectories across Southern Europe prior to and during the crisis, and traces the impact of austerity policies and wider recession upon income inequality and poverty. It brings together a number of cross-country studies on major social policy areas, raising crucial questions. What policy choices are driving reforms as Southern European economies work their way out of fiscal difficulty? Can the crisis provoke the improvement of institutional capabilities and recalibration of social? Or, instead, does structural adjustment indicate a significant policy turn towards the erosion of social rights? The contributions critically approach these issues and bring evidence to bear upon whether Southern European welfare capitalisms are becoming more dissimilar.
This book was originally published as a special issue of South European Society & Politics.
"This practical guide on the management of financial risk is an essential reference source for a wide range of professionals in fields related to financial services. The book adopts a highly practical approach and helps the reader to understand the main classes of risk affecting a financial institution and how they are managed. The clear layout encourages the reader to dip in to the book for guidance on particular subject areas, making this title an essential guide on the subject."