Resume
Summary Weeks 1-3 Cohen - Currency and Monetary power
- Cours
- Établissement
A summary and note page of the important points from the readings
[Montrer plus]Aperçu 1 sur 2 pages
Aperçu 1 sur 2 pages
Ajouter au panier
Préparation de vos documents...
Ajouter au panier
Vendeur
S'abonner
Polypodium_Apolemichthys.xanthurus
Avis reçus
Aperçu du contenu
State power:-ability to pressure or coerce others into conforming to your desired behaviour
-also ability to form will into actions, resist outside pressure, free to act independently.
-in a given area, autonomy is necessary to exert influence on others, policy makers must be
insulated and free of external influence.
-in monetary realm because of wide interdependence and connectivity autonomy comes into
balance of payments issues as: being able to put the burden of adjustment on others and avoid it
yourself.
-defines two kinds of Balance of Payments (BoP) powers: to delay and to deflect. Each
corresponds to a different kind of adjustment burden. The continuing cost of adjustment is first
burden, costs of new payments equilibrium after change has taken place. Delay is power to
postpone these costs by delaying the process of adjustment. Second burden is transitional cost of
adjustment, the cost of the change itself. Deflect is power to deflect costs of the change onto
others.
Two faces of influence:
-first is deliberate attempt to exploit opportunities for advantage.
-second is inadvertent, working through market processes to create dependence and rearticulate
interests. Ideas of nonintentional uses of power.
-two modes in exercise of monetary influence: passive results as part of adjustment process,
active is active influence directed at specific countries and goals.
-market driven influence second face, first face is government.
Monetary power, autonomy and influence:
-other traditional forms of power secondary, resources less determinant
-interactions important, dependencies
-interdependence is usually asymmetrical, who needs the other more? leads to power
-discussing Strange's distinction of relational power: power of A over B and structural power:
A's capacity to shape system, determine framework of int. economy.
structure of a state's power in the monetary system:
-autonomy, the ability to avoid the burden of adjustment required by payments imbalances.
-this autonomy creates the potential for influence either active or passive which can develop into
the ability to delay or deflect.
Issuers of international currency:
-possess major positions of power, powerful currency means powerful state
-four main benefits: 1. seignoirage: generated whenever foreigners acquire and hold significant
amounts of domestic money, or financial claims denominated in the domestic money, in
exchange for traded goods and services. 2. Macroeconomic flexibility: cross-border use can relax
constraints of balance of payments on domestic monetary and fiscal policy. The more can
finance payment deficits with own currency the easier for policy makers meet spending
objectives. 3. Reputation: soft-power, elevates state to higher reputation, prestige. International
use as a sign of status and rank. 4. leverage: power through its control of access to financial
resources. Hard power.
Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur Polypodium_Apolemichthys.xanthurus. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour CA$7.74. Vous n'êtes lié à rien après votre achat.
Peut-on faire confiance à Stuvia ?
4.6 étoiles sur Google & Trustpilot (+1000 avis)
9 résumés ont été vendus ces 30 derniers jours
Fondée en 2010, la référence pour acheter des résumés depuis déjà 15 ans