...THE GREAT RECESSION Since publication of Robert L. Hetzel’s he Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. hat consensus emphasized eicient markets, rational expectations, and the eicacy of the price system in assuring macroeconomic stability. he 2008–2009 recession not only destroyed the professional consensus about the kinds of models required to understand cyclical luctuations but also revived the credit-cycle or asset-bubble explanations of recession that dominated thinking in the nineteenth century and irst half of the twentieth century. hese “market-disorder” views emphasize excessive risk taking in inancial markets and the need for government regulation. he present book argues for the alternative “monetary-disorder” view of recessions. A review of cyclical instability over the last two centuries places the 2008–2009 recession in the monetary-disorder tradition, which focuses on the monetary instability created by central banks rather than on a boom-bust cycle in inancial markets. Robert L. Hetzel is Senior Economist and Research Advisor in the Research Department of the Federal Reserve Bank of Richmond, where he participates in debates over monetary policy and prepares the bank’s president for meetings of the Federal Open Market Committee. Dr. Hetzel’s research on monetary policy and the history of central banking has appeared in publications...
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...Svedberg & Svensson (2014); Eat the food, drink the booze and settle the deal! Bachelor Thesis Eat the food, drink the booze and settle the deal! A study of intercultural differences in China from a Swedish B2B perspective Authors: Nathalie Svedberg Tim Svensson Subject: Bachelor thesis Business administration Supervisor: Examiner: Level: Richard Owusu Soniya Billore Bachelor degree 27th May, 2014 1 Course code: 2FE50E Date: Svedberg & Svensson (2014); Eat the food, drink the booze and settle the deal! Abstract Background: China is today regarded as Sweden’s most important business partner in Asia. Even if there are cultural differences between Sweden and China the intercultural distance has successively decreased. One of the reasons is the globalisation. Another reason is the consecutive development of Swedish-Chinese relations. The interpretation from common understanding has increased the level of trade between the nations. There is an on-going development of business co-operation between Sweden and China. The Purpose: This Bachelor Thesis will examine the differences between the SwedishChinese business culture and how the cultural differences affect the Swedish B2B in China. The purpose is formulated by the basis of our main research questions; “How do Swedish B2B companies perceive the cultural differences between the Swedish and Chinese way of doing business?“ and “how do Swedish companies operating in China deal with business cultural...
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