Sergio Rossi

Girotondo

Louis-Philippe Rochon

This book unites diverse heterodox traditions in the study of endogenous money - which until now have been confined to their own academic quarters - and explores their similarities and differences from both sides of the Atlantic. Bringing together perspectives from post-Keynesians, Circuitists and the Dijon School, the book continues the tradition of Keynes's and Kalecki's analysis of a monetary production economy, emphasising the similarities between the various approaches, and expanding the analytical breadth of the theory of endogenous money. The authors open new avenues for monetary research in order to fuel a renewed interest in the nature and role of money in capitalist economies, which is, the authors argue, one of the most controversial, and therefore fascinating, areas of economics. Providing new theoretical and empirical grounds for the construction of a general, policy oriented theory of money, this thought-provoking collection will appeal to academics, researchers and students interested in monetary economics. It will also be welcomed by monetary policymakers and central bank officials.

The Nature and Role of Money in Capitalist Economies

Modern Theories of Money

Life as a teenager is full of challenges and learning moments, from love triangles to missed appointments and beyond. Merry-Go-Round features the stories of a group of young people just trying to get through their day-to-day life, all while romance and simply growing up are throwing roadblocks along the way. Based on the Arthur Schnitzler play by the same name, this volume is a perfect encapsulation of growing up, and trying to figure everything out.

Merry-Go-Round

Rossi (economics, Universities of Fribourg and Lugano) presents a new theory connecting money and output. Analyzing inflation from a macroeconomics perspective, the role of money is described in terms of value, price, profit, and capital accumulation. Rossi argues that an understanding of inflation must be grounded on a view of the formation (and not the distribution) of national income. He then proposes structural reforms of modern banking systems and outlines an original macro-theoretical investigation of measurement problems in price index theory. Annotation copyrighted by Book News, Inc., Portland, OR

A New Macroeconomic Analysis

Money and Inflation

Fabio Gennaretti

Ignacio García-González

Marco Carrer

Georg von Arx

Quantitative Wood Anatomy to Explore Tree Responses to Global Change

The Encyclopedia of Central Banking, co-edited by Louis-Philippe Rochon and Sergio Rossi, contains some 250 entries written by over 200 economists on topics related to monetary macroeconomics, central bank theory and policy, and the history of monetary

The Encyclopedia of Central Banking

Covadonga Orejas

Lorenzo Bramanti

Andrea Gori

During the last decades there has been an increasing evidence of drastic changes in marine ecosystems due to human-induced impacts, especially on benthic ecosystems. The so called “animal forests” are currently showing a dramatic loss of biomass and biodiversity all over the world. These communities are dominated by sessile suspension feeder organisms (such as sponges, corals, gorgonians, bivalves, etc.) that generate three-dimensional structures, similar to the trees in the terrestrial forest. The animal forest provide several ecosystem services such as food, protection and nursery to the associated fauna, playing an important role in the local hydrodynamic and biogeochemical cycles near the sea floor and acting also as carbon sinks. The present book focus its attention on these three dimensional animal structures including, for the first time, all the different types of animal forests of the world in a single volume.

The Ecology of Benthic Biodiversity Hotspots

Marine Animal Forests

Exploring the Future of the White Continent

A Journey in Antarctica

Toni Polo

Medusa

Marine Animal Forests (MAFs) are spread all over the world. Composed by suspension feeding organisms (e.g. corals, gorgonians, sponges, bryozoans, bivalves, etc.), MAFs constitute a vast number of marine ecosystems such as coral reefs, cold water corals, sponge grounds, bivalve beds, etc. The surface covered by these systems is prominent (at the scale of the oceans of the planet), though poorly known. In a previous book (Marine Animal Forests, the ecology of benthic biodiversity hotspots), several aspects of the MAFs were described and discussed, building the basis for a holistic approach with the aim of putting these shallow and deep sea ecosystems under a common umbrella. The main target of the present book is to identify and address important topics which were not covered in the previous three volumes. Bryozoans or Polychaeta, for example, are treated in this volume, as well as hydrothermal vents ecosystems and submarine caves, the chemical ecology in MAFs or the nursery effect on these ecosystems. The vastity of the MAF concept opens new insights in the biology, physiology, biodiversity of the organisms structuring these highly biodiverse ecosystems and on the dangers threatening them (such as microplastics or the role of invasive species as an impact of their trophic ecology or distribution). In a fast changing world, in which the complexity of MAFs is at risk, we propose an in-depth analysis of many aspects that may be inspirational for future research lines in marine biology and ecology.

Perspectives on the Marine Animal Forests of the World

What is happening in our oceans? By describing their main elements, this book shows how and why the oceans are being transformed, and suggests possible future scenarios to address this complex, yet often-asked, question. The ocean is being dramatically transformed, but the magnitude of this transformation remains unclear since the ocean is largely inaccessible and still unknown: there is more information about the outer universe than about the deepest parts of our oceans. The author, a marine biologist with extensive research experience, offers a holistic view of our oceans. Focusing on fishing, pollution and the effects of climate change, he identifies and describes the changes occurring in all marine ecosystems, and discusses the long-passed state of equilibrium.

Oceans in Decline

Achim Bräuning

Andreas Bolte

Cristina Nabais

Ute Sass-Klaassen

Trees are among the longest-living organisms. They are sensitive to extreme climatic events and document the effects of environmental changes in form of structural modifications of their tissues. These modifications represent an integrated signal of complex biological responses enforced by the environment. For example, temporal change in stem increment integrates multiple information of tree performance, and wood anatomical traits may be altered by climatic extremes or environmental stress. Recent developments in preparative tools and computational image analysis enable to quantify changes in wood anatomical features, like vessel density or vessel size. Thus, impacts on their functioning can be related to climatic forcing factors. Similarly, new developments in monitoring (cambial) phenology and mechanistic modelling are enlightening the interrelationships between environmental factors, wood formation and tree performance and mortality. Quantitative wood anatomy is a reliable indicator of drought occurrence during the growing season, and therefore has been studied intensively in recent years. The variability in wood anatomy not only alters the biological and hydraulic functioning of a tree, but may also influence the technological properties of wood, with substantial impacts in forestry. On a larger scale, alterations of sapwood and phloem area and their ratios to other functional traits provide measures to detect changes in a tree’s life functions, and increasing risk of drought-induced mortality with possible impacts on hydrological processes and species composition of plant communities. Genetic variability within and across populations is assumed to be crucial for species survival in an unpredictable future world. The magnitude of genetic variation and heritability of adaptive traits might define the ability to adapt to climate change. Is there a relation between genetic variability and resilience to climate change? Is it possible to link genetic expression and climate change to obtain deeper knowledge of functional genetics? To derive precise estimates of genetic determinism it is important to define adaptive traits in wood properties and on a whole-tree scale. Understanding the mechanisms ruling these processes is fundamental to assess the impact of extreme climate events on forest ecosystems, and to provide realistic scenarios of tree responses to changing climates. Wood is also a major carbon sink with a long-term residence, impacting the global carbon cycle. How well do we understand the link between wood growth dynamics, wood carbon allocation and the global carbon cycle? Papers contribution to this Research Topic will cover a wide range of ecosystems. However, special relevance will be given to Mediterranean-type areas. These involve coastal regions of four continents, making Mediterranean-type ecosystems extremely interesting for investigating the potential impacts of global change on growth and for studying responses of woody plants under extreme environmental conditions. For example, the ongoing trend towards warmer temperatures and reduced precipitation can increase the susceptibility to fire and pests. The EU-funded COST Action STREeSS (Studying Tree Responses to extreme Events: a SynthesiS) addresses such crucial tree biological and forest ecological issues by providing a collection of important methodological and scientific insights, about the current state of knowledge, and by opinions for future research needs.

Studying Tree Responses to Extreme Events

Giovanni Scarduelli

A brilliant graphic novel that traces the life and work of Edward Hopper, one of America's most acclaimed artists. This groundbreaking graphic novel delves into the life of the acclaimed artist Edward Hooper, whose iconic works depict quintessentially American scenes and experiences. While many of Hopper's most acclaimed works have been embraced by American culture, the artist himself rejected much of the lyricism and romance that his audience imposed on his paintings. This unique overview of Hopper's life and career offers a fascinating and unflinching portrait of an artist trying to establish himself and define his own style. Using Hopper's own words as a jumping off point, the book traces his roots as an art student and commercial illustrator; his life-changing time in Europe; his rocky relationship with his wife Jo, and his incredible success later in life. It also shows how, as he became increasingly famous, he grew more taciturn and resolute in his disparagement of American society and the labels thrust on him. Using clean lines and a palette that mimics Hopper's own, the book's illustrations reflect the style and substance of the artist's life--and help create a refreshing reconsideration of a creative genius who never wavered from his vision.

The Story of His Life

Edward Hopper

'This is a timely book. Being on modern theories of money - essentially the study of traditions of endogenous money - it is a welcome contribution to current thinking on monetary policy. The modern central bank view on money is that the rate of interest should be manipulated by central banks to achieve an inflation target with the money supply being the "residual". Although money is in effect endogenous, there is no theory that explains its behaviour. Modern Theories of Money is a serious attempt to sharpen existing views on the issue and fill gaps in an admirable manner.' - Philip Arestis, University of Cambridge, UK and Levy Economics Institute, US This book unites diverse heterodox traditions in the study of endogenous money - which until now have been confined to their own academic quarters - and explores their similarities and differences from both sides of the Atlantic. Bringing together perspectives from post-Keynesians, Circuitists and the Dijon School, the book continues the tradition of Keynes's and Kalecki's analysis of a monetary production economy, emphasising the similarities between the various approaches, and expanding the analytical breadth of the theory of endogenous money. The authors open new avenues for monetary research in order to fuel a renewed interest in the nature and role of money in capitalist economies, which is, the authors argue, one of the most controversial, and therefore fascinating, areas of economics.

International in scope and written by a leading young Post-Keynesian economist, this book focuses on the working of money and payments in a multi-bank settlement system within which banks and non-bank financial institutions have been expanding their operations outside their countries of incorporation. Departing from conventionally held beliefs, Sergio Rossi sets off from a positive analysis of the logical origin of money, which is the essential principle of double-entry book-keeping through which banks record all debts and credits for further reference and settlement and provides theoretical and empirical advances in explaining money endogeneity for the investigation of contemporary domestic and international monetary issues. Showing that both money and banking have profound implications for real economic activities, this innovative work is essential reading, not only for scholars in monetary economics, but also for professionals concerned with monetary policy and payments system issues.

Money and Payments in Theory and Practice

I Documenti della cultura italiana in Inghilterra: Il Rinascimento

Alvaro Cencini

Jean-Luc Bailly

Quantum Macroeconomics presents a new paradigm in macroeconomic analysis initiated by Bernard Schmitt. It explains the historical origin, the analytical contents, and the actual relevance of this new paradigm, with respect to current major economic issues at national and international level. These issues concern both advanced and emerging market economies, referring to inflation, unemployment, financial instability, and economic crises. In the first part of this volume, leading scholars explain the historical origin and analytical content of quantum macroeconomics. The second part explores its relevance with respect to the current major economic issues such as the sovereign debt crisis and European monetary union. The volume also features two previously unpublished papers by Bernard Schmitt. The main findings of this book concern the need to go beyond agents’ behaviour to understand the structural origin of a variety of macroeconomic problems, notably, inflation, unemployment, financial instability, and economic crises. The originality that pervades all contributions is plain, when one considers the lack of any structural explanation of national and international economic disorders in the literature within the mainstream approach to economics. This edited volume is of great interest to those who study macroeconomics, monetary economics and money and banking.

The legacy of Bernard Schmitt

Quantum Macroeconomics

The second edition of this important textbook introduces students to the fundamental ideas of heterodox economics. It is written in a clear way by top heterodox scholars. This introductory book offers not only a critique of the dominant approach to economics, but also presents a positive and constructive alternative. Students interested in an explanation of the real world will find the heterodox approach not only satisfying, but ultimately better able to explain a money-using economy prone to periods of instability and crises.

Sergio Rossi

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