This book presents the theory and evidence on the effect of market liquidity and liquidity risk on asset prices and on overall securities market performance. Illiquidity means incurring a high transaction cost, which includes a large price impact when trading and facing a long time to unload a large position. Liquidity risk is higher if a security becomes more illiquid when it needs to be traded in the future, which will raise trading cost. The book shows that higher illiquidity and greater liquidity risk reduce securities prices and raise the expected return that investors require as compensation. Aggregate market liquidity is linked to funding liquidity, which affects the provision of liquidity services. When these become constrained, there is a liquidity crisis which leads to downward price and liquidity spiral. Overall, the volume demonstrates the important role of liquidity in asset pricing.

This timely book answers complex and perplexing questions raised by Wall Street's role in the financial crisis. What are the economic and moral connections between Wall Street and the overall economy? How did we arrive at this point in history where our most powerful financial institutions thwart rather than promote free markets, prosperity and even social cohesion? Can the fractured relationship between Wall Street and Main Street be repaired? Wall Street Values chronicles the transformation of Wall Street's business model from serving clients to proprietary trading and explains how this shift undermined the ethical foundations of the modern financial industry. Michael A. Santoro and Ronald J. Strauss argue that post-millennial Wall Street is not only 'too big to fail' but also a threat to the economy even when it succeeds.

This book contains essays presented at a conference held in November 2010 to mark the centenary of the famous 1910 Jekyll Island meeting of leading American financiers and the US Treasury. The 1910 meeting resulted in the Aldrich Plan, a precursor to the Federal Reserve Act that was enacted by Congress in 1913. The 2010 conference, sponsored by the Federal Reserve Bank of Atlanta and Rutgers University, featured assessments of the Fed's near 100-year track record by prominent economic historians and macroeconomists. The final chapter of the book records a panel discussion of Fed policy making by the current and former senior Federal Reserve officials.

Written by well-respected authors, the Cambridge Checkpoint Mathematics suite provides a comprehensive structured resource which covers the full Cambridge Secondary 1 Mathematics framework in three stages. This brightly illustrated Coursebook for Stage 9 offers a comprehensive introduction to all topics covered in the syllabus. Worked examples show students how to tackle different problems, and plenty of exercise questions prepare students for the different types of questions they will face in their Checkpoint exam. Coverage of the Problem Solving framework is integrated throughout the course, with questions relating to the Problem Solving framework statements highlighted in the Coursebook. There is an accompanying Practice Book and Teacher's Resource CD-ROM available separately.

The severity of the Great Recession and the subsequent stagnation caught many economists by surprise. But a group of Keynesian scholars warned for some years that strong forces were leading the U.S. toward a deep, persistent downturn. This book collects essays about these events from prominent macroeconomists who developed a perspective that predicted the broad outline and many specific aspects of the crisis. From this point of view, the recovery of employment and revival of strong growth requires more than short-term monetary easing and temporary fiscal stimulus. Economists and policy makers need to explore how the process of demand formation failed after 2007, and where demand will come from going forward. Successive chapters address the sources and dynamics of demand, the distribution and growth of wages, the structure of finance, and challenges from globalization, and inform recommendations for monetary and fiscal policies to achieve a more efficient and equitable society.

Covering both noncooperative and cooperative games, this comprehensive introduction to game theory also includes some advanced chapters on auctions, games with incomplete information, games with vector payoffs, stable matchings and the bargaining set. Mathematically oriented, the book presents every theorem alongside a proof. The material is presented clearly and every concept is illustrated with concrete examples from a broad range of disciplines. With numerous exercises the book is a thorough and extensive guide to game theory from undergraduate through graduate courses in economics, mathematics, computer science, engineering and life sciences to being an authoritative reference for researchers.

Written by well-respected authors, the Cambridge Checkpoint Mathematics suite provides a comprehensive structured resource which covers the full Cambridge Secondary 1 Mathematics framework in three stages. This Practice Book for Stage 9 contains further exercise questions for practice in the classroom or at home. It provides coverage of the Problem Solving section of the framework, with questions relating to these framework statements highlighted.

Written by well-respected authors, the suite provides a comprehensive, structured resource which covers the full Cambridge Secondary 1 framework and seamlessly progresses into the next stage. This engaging course supports teaching of the Science framework both theoretically and practically, with full coverage of the Scientific Enquiry framework integrated throughout the series. This Coursebook for Stage 9 gives a thorough introduction to the concepts, and offers a wealth of ideas for hands-on activities to make the subject matter come to life. Integrated review of topics from Stages 7 and 8 as well as full coverage of the Stage 9 content provides preparation for the Cambridge Checkpoint Science test and a solid foundation for progression into the Cambridge IGCSE Sciences.

The Academic Encounters Second edition series uses a sustained content approach to teach skills necessary for taking academic courses in English. There are two books for each content area. Academic Encounters Level 1 Teacher's Manual Reading and Writing: The Natural World contains general teaching guidelines for the course, tasks by task teaching suggestions, answers for all tasks, and unit quizzes and quiz answers.

Making Connections teaches an extensive range of reading skills and strategies in order to prepare students for college reading. Making Connections Second edition Level 1 Teacher's Manual contains teaching suggestions for each activity type as well as a complete answer key. Photocopiable unit tests contain additional thematic readings and assess how well students have learned the unit's reading skills and the unit's target vocabulary.

Making Connections teaches an extensive range of reading skills and strategies in order to prepare students for college reading. Making Connections Second edition Level 2 Teacher's Manual contains teaching suggestions for each activity type as well as a complete answer key. Photocopiable unit tests contain additional thematic readings and assess how well students have learned the unit's reading skills and the unit's target vocabulary.

This award-winning graded readers series is full of original fiction, adapted fiction and factbooks especially written for teenagers. Kieran loves insects, and in particular spiders. He finds everything about them fascinating and there isn't much he doesn't know about them. When he's studying spiders, Kieran feels happy and confident. The rest of Kieran's life is more difficult. His father is obsessed with teaching a reluctant Kieran to climb. And then there's Connor O'Brien — a boy in Kieran's class whose only pleasure seems to come from making fun of Kieran's interest. This paperback is in British English. Download the complete audio recording of this title and additional resources at cambridge.org/experience-readers Cambridge Experience Readers get teenagers hooked on reading.

So you want to be a Journalist? Unplugged is a fully revised guide to the world of journalism. This new edition of Bruce Grundy's guide for journalists takes us through new media's impact on the structure and practice of journalism today, with its 24-hour news cycle of multi-platform, interactive media audiences. The book contains instructions on writing for news media as well as practical advice on all facets of reporting. Skills involved in finding information, interviewing, writing news and features, research and investigation, basic subbing, layout and design are covered, along with the essentials of grammar, the law, and practical tips on ethical and professional behaviour. New to the second edition: online journalism incorporated throughout the text; Vignettes and case studies that bring the text to life; Examples from Australian, New Zealand and international media; Extended section on ethics; Extensively updated research section, to help students recognise quality internet research; Extensive companion website including further writing practice.

Looking for an easy-to-use, practical guide to conducting fieldwork in sociolinguistics? This invaluable textbook will give you the skills and knowledge required for carrying out research projects in 'the field', including: How to select and enter a community; How to design a research sample; What recording equipment to choose and how to operate it; How to collect, store and manage data; How to interact effectively with participants and communities; What ethical issues you should be aware of. Carefully designed to be of maximum practical use to students and researchers in sociolinguistics, linguistic anthropology and related fields, the book is packed with useful features, including: Helpful checklists for recording techniques and equipment specifications; Practical examples taken from classic sociolinguistic studies; Vivid passages in which students recount their own experiences of doing fieldwork in many different parts of the world.

Language typology identifies similarities and differences between languages of the world. This textbook provides an introduction to the subject which assumes minimal prior knowledge of linguistics. It offers the broadest coverage of any introductory book, with sections on historical change, language acquisition and language processing. Students will become familiar with the subject by working through numerous examples of cross-linguistic generalizations and diversity in syntax, morphology and phonology as well as vocabulary, writing systems and signed languages. Chapter previews and summaries, key words, a glossary and copious literature references help the reader understand and internalize what they have read, while activities at the end of each chapter reinforce key points.

Bringing the advances of theoretical linguistics to the study of language change, this innovative textbook demonstrates the mutual relevance of historical linguistics and contemporary linguistics. Numerous case studies throughout the book show both that theoretical linguistics can be used to solve problems where traditional approaches to historical linguistics have failed to produce satisfying results, and that the results of historical research can have an impact on theory. The book first explains the nature of human language and the sources of language change in broad terms. It then focuses on different types of language change from contemporary viewpoints, before exploring comparative reconstruction and the problems inherent in trying to devise new methods for linguistic comparison. Positioned at the cutting edge of the field, the book argues that this approach can and should lead to the re-integration of historical linguistics as one of the core areas in the study of language.

The US economy today is confronted with the prospect of extended stagnation. This book explores why. Thomas I. Palley argues that the Great Recession and destruction of shared prosperity is due to flawed economic policy over the past thirty years. One flaw was the growth model adopted after 1980 that relied on debt and asset price inflation to fuel growth instead of wages. A second flaw was the model of globalization that created an economic gash. Financial deregulation and the house price bubble kept the economy going by making ever more credit available. As the economy cannibalized itself by undercutting income distribution and accumulating debt, it needed larger speculative bubbles to grow. That process ended when the housing bubble burst. The book explains why the economy is now confronted with stagnation rather than the quick recovery predicted by other accounts.

'Metaphor', a form of figurative language in which one thing or idea is expressed in terms of another, is becoming an increasingly popular area of study, as it is relevant to the work of semanticists, pragmatists, discourse analysts and also those working at the interface of language and literature and in other disciplines such as philosophy and psychology. This book provides a summary, critique and comparison of the most important theories on how metaphors are used and understood, drawing on research from linguistics, psychology and other disciplines. In order to ground the discussion in actual language use, the book uses examples from discourse, including casual conversations, political speeches, literature, humor, religion and science. Written in a non-technical style, the book includes clear definitions, examples, discussion questions and a glossary, making it ideal for graduate-level seminars.

Ventures 2nd Edition is a six-level, standards-based ESL series for adult-education ESL. The Ventures 2nd Edition interleaved Level 3 Teacher's Edition includes easy-to-follow lesson plans for every unit. It offers tips and suggestions for addressing common areas of difficulty for students, as well as suggested expansion activities for improving learner persistence. The Teacher's Edition also explains where to find additional practice in other Ventures components such as the Workbook, Online Teacher's Resource Room, and Student Arcade. Multi-skill unit, midterm, and final tests are found in the back of the Teacher's Edition. Also includes an Assessment CD/CD-ROM which contains audio for each test as well as all the tests in a customizable format.

The Handbook of Journal Publishing is a comprehensive reference work written by experienced professionals, covering all aspects of journal publishing, both online and in print. Changes in recent years in the way journals are produced, financed and used make this an especially turbulent and challenging time for journal publishers — and for authors, readers and librarians. The Handbook offers a thorough guide to the journal publishing process, from editing and production through marketing, sales and fulfilment, with chapters on management, finances, metrics, copyright and ethical issues. It provides a wealth of practical tools, including checklists, sample documents, worked examples, alternative scenarios and extensive lists of resources, which readers can use in their day-to-day work. Between them, the authors have been involved in every aspect of journal publishing over several decades and bring to the text their experience working for a wide range of publishers in both the not-for-profit and commercial sectors.