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Begin New Search Topic Economics Content Type Policy Brief

1661. A Primer on the Balance Sheet of the Eurosystem

Author:
Daniel Gros
Publication Date:
02-1999
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
The ECB has just published the opening balance sheet for the Eurosystem, which is the official name given to the ECB plus the 11 national central banks of the euro zone. All 15 national central banks are part of the ESCB, but the participation of the four outsiders is purely formal. The balance sheet, which is reproduced at the end of this Commentary, reveals two very interesting facts: During 1998, the national central banks of the euro zone increased their holdings of dollar foreign exchange reserves by the equivalent of about 38 bn euro. This means that they de facto intervened consistently to support the dollar during that year. The ECB starts with huge foreign exchange reserves: 237 bn euro plus gold worth 100 bn euro. This is much more than the amount held by the US Federal Reserve and constitutes a major share of the reserves held by all OECD countries.
Topic:
Economics, International Trade and Finance, and Regional Cooperation
Political Geography:
Europe

1662. EMU and Labour Markets: Vae Germania?

Author:
Daniel Gros
Publication Date:
02-1999
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
The outcome of the first round of wage negotiations in post-EMU Germany sheds some new light on the old question: What impact will the euro have on labour markets and unemployment? Economists would say that it depends on the structure of the bargaining process. In wage-setting, it seems that either one of the two extremes of full centralisation or complete fragmentation is conducive to low inflation and unemployment.
Topic:
Economics and Political Economy
Political Geography:
Europe and Germany

1663. Beyond Kosovo: A Regional Approach to the Balkans

Author:
Roger Kirk, Jack M. Seymour Jr., John Lampe, and Louis Sell
Publication Date:
06-1999
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
Basic Factors Underlying a Regional Settlement 1. Any overall settlement in the Balkans should be area-wide and coordinated among the entities directly involved, the neighboring states, the key nations of the outside community, and the relevant political and economic international institutions. 2. It will have to include political arrangements, international security guarantees, and substantial economic assistance as a basis for genuine peace and reconciliation. 3. It must embrace generally accepted international standards, including respect for human rights and rights for ethnic minorities; right of return for all area refugees; rule of law; effective media freedom; and free elections supervised or, where necessary, organized by the international community. 4. The settlement should promote and institutionalize political and economic cooperation, regional trade and/or formal ties among the participating states and entities of the former Yugoslavia, and neighboring states as feasible, including the free flow of goods, labor and capital. 5. International assistance in reconstruction, economic reform and development of economic ties among the peoples of the region and with the European Community must be massive. It should, however, be designed to promote democratic institutions, market reform, adherence to peace agreements, and respect for human rights. 6. Such assistance should target the private sector, encourage local initiatives, and help governments pursue effective economic reform policies. It should seek to curtail corruption and the maintenance of unprofitable state industries. It should avoid encouraging international dependency. The purpose should be to build societies and practices conducive to self-reliance, international cooperation, and outside investment. Positive and negative lessons can be drawn from experiences in Bosnia. 7. The support of the broad population of Serbia will be necessary if peaceful and economically viable regional arrangements are to last. The reconstruction process implied in these arrangements will itself be an incentive for the Serbs to opt away from destructive nationalist policies and join in the regional reconstruction process. 8. Neither lasting peace in the Balkans nor democracy in Serbia can be achieved as long as Slobodan Milosevic remains in power. He has been indicted by the Tribunal in The Hague for crimes against humanity and his removal from power is a prime NATO objective. There are increasing and encouraging signs of popular Serb desire to be rid of Milosevic, but it is not certain that he will depart in the near future. 9. A regional settlement may have to be negotiated indirectly with, or imposed upon, Milosevic as the ruler of Serbia. It should nevertheless be made clear that the West condemns Milosevic\'s actions, that Serbia cannot resume its rightful place in Europe as long as it is governed by indicted war criminals, and that the West will help the people of Serbia in their efforts to bring forth new, democratic, cosmopolitan leadership in their country. 10. The Kosovar Albanians cannot be expected to live under Serbian control again for the foreseeable future. Arrangements short of formal independence such as an international protectorate or trusteeship are possible, indeed likely, for a transitional period. A more permanent and self-sustaining arrangement is highly desirable if it can be achieved without creating more instability in the former Yugoslav space and the neighboring area. 11. A credible international military presence is needed to encourage the return of the remaining Albanian-Kosovars, the continued residence of Serb-Kosovars and to maintain peace and order within Kosovo and on its borders. Such a presence will also be a lasting part of any transitional arrangement. Any foreseeable regional settlement will similarly require a prolonged foreign military presence. This settlement should, however, lay the foundation for an end to that presence by, among other things, providing for supervised demilitarization of the states and entities involved, and a comprehensive regional arms control agreement. 12. A central objective of any regional settlement should be to promote conditions that will encourage a stable political and military environment, economic growth, and increasing self-reliance. These changes will permit an end to the foreign military, political, and economic presence in the region, though no date for that termination should be set.
Topic:
Security, Economics, and Politics
Political Geography:
Middle East, Kosovo, and Balkans

1664. Social and Economic Policies to Prevent Complex Humanitarian Emergencies

Author:
Jeni Klugman
Publication Date:
01-1999
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
Complex humanitarian emergencies have caused widespread death and suffering over the last two decades. While recent tragedies in Bosnia, Rwanda and Angola have made the world more aware of the terrible human toll involved, the international community has yet to develop effective policy responses to stem such crises.
Topic:
Conflict Resolution, Development, Economics, Genocide, Human Rights, Migration, and Politics
Political Geography:
Bosnia, Rwanda, and Angola

1665. Global Banking

Author:
Tom Barry, Martha Honey, and Christian Weller
Publication Date:
05-1998
Content Type:
Policy Brief
Institution:
Foreign Policy In Focus
Abstract:
International banking activities frequently result in financial instability and serious economic downturns as financial markets become more open and deregulated. Competition from multinational banks has reduced the availability of credit to small- and medium-sized enterprises, to low- and middle-income consumers, and to farmers. While economies experience financial instabilities and declining credit, governments are losing the means to protect their domestic markets.
Topic:
Economics, Government, International Organization, and International Trade and Finance

1666. 100 Companies Receiving The Largest Dollar Volume Of Prime Contract Awards—Fiscal Year 1997

Publication Date:
01-1998
Content Type:
Policy Brief
Institution:
U.S. Economic Statistics Briefing Room
Abstract:
This report presents summary data on the 100 companies, and their subsidiaries, receiving the largest dollar volume of Department of Defense (DoD) prime contract awards during fiscal year (FY) 1997. Table 1 lists the 100 companies in alphabetical order and gives their associated rank. Table 2 identifies the parent companies in rank order, with their subsidiaries, and gives the total net value of awards for both the parent company and its subsidiaries. In many cases, the parent company receives no awards itself, but appears on the list because of its subsidiaries. Table 2 also shows what percentage of the total awards each company's awards represent, as well as the cumulative percentage represented by all companies. Table 3 lists the top 100 companies DoD-wide in rank order and breaks the totals into three categories of procurement: Research, Development, Test, and Evaluation (RDT); Other Services and Construction; and Supplies and Equipment. Table 4 lists the top 50 companies for each of the Reporting Components in rank order, and by category of procurement.
Topic:
Defense Policy and Economics
Political Geography:
United States

1669. Prime Contract Awards—Size Distribution: Fiscal Year 1997

Publication Date:
09-1998
Content Type:
Policy Brief
Institution:
U.S. Economic Statistics Briefing Room
Abstract:
This report provides data on prime contract actions (PCAs) over $25,000 awarded by the Department of Defense (DoD) in fiscal year (FY) 1997. For reporting purposes, contracts have been distributed by dollar value into 11 different size categories. The tables provide information on the number of total actions, their net value, and their percentage of distribution, by size, and according to a variety of categories. The categories include Defense Component, type of contract involved, extent of competed procurements, kind of contract action taken, selected procurement programs, and labor standard statutes. Table 1 presents data by individual size category (e.g., $25,000 to $49,999, $50,000 to $99,999) while Tables 2 through 7 present data in cumulative categories (e.g., $25,000 or more; $50,000 or more). The information in Prime Contract Awards, Size Distribution, assists DoD management in projecting the workload that will be required by various proposed projects. For example, using data in this publication, DoD officials could determine that a proposal to review all contract actions of $500,000 or more in FY 1997 would require examining approximately 26,000 transactions, or 11.3 percent of the total transactions as shown in Table 2. These data can also be used to identify trends in DoD procurement, (e.g., to identify which of the various types of contracts were most frequently awarded, in terms of number of contract actions, during FY 1997).
Topic:
Defense Policy and Economics
Political Geography:
United States