Stuart Sayer

New Political Economy: Review Article

Alberto Alesina and Nouriel Roubini with Gerald D. Cohen, Political Cycles and the Macroeconomy Avinash K. Dixit, The Making of Economic Policy: A Transaction-Cost Politics Perspective. Gordon Pepper, Inside Thatcher’s Monetarist Revolution

Issues in New Political Economy: An Overview

A brief overview of the historical background, nature, and rapid growth in volume and scope of new political economy since the early 1980s is provided. The paper continues with some general reflections on the strength and weaknesses of the new political economy approach, illustrated by the other contributions to this special issue of the Journal of Economic Surveys. The final section summarises these contributions. Copyright 2000 by Blackwell Publishers Ltd

The city, power and economic policy in the UK

This article makes use of recent work on financial markets to refine the analysis of the political power of the City in the policy-making process. It is argued that the distinction between market prices that reflect economic fundamentals, and bubbles, fads and herd behaviour plays a key role in assessing City influence. Further this broad notion of influence stemming from market prices need not operate in the interests of the City. As such City influence should be distinguished from the political power of the City, which more clearly resides in the Citys ability to limit external regulation of its activities.

Issues in finance : credit, crises and policies

Contributors. Issues in Finance: Credit, Crises and Policies - An Overview (Stuart Sayer). 1 Bank Capital Requirements, Business Cycle Fluctuations and the Basel Accords: A Synthesis (Ines Drumond). 2 The Ten Commandments for Optimizing Value-at-Risk and Daily Capital Charges (Michael McAleer). 3 The Ten Commandments for Managing Value at Risk Under the Basel II Accord (Juan-Angel Jimenez-Martin, Michael McAleer and Teodosio Perez-Amaral). 4 Sovereign Insolvency Procedures A Comparative Look at Selected Proposals (Kathrin Berensmann and Angelique Herzberg). 5 Collective Action Clauses in International Sovereign Bond Contracts - Whence the Opposition? (Sonke Haseler). 6 Collateral and Credit Rationing: A Review of Recent Empirical Studies as a Guide for Future Research (Tensie Steijvers and Wim Voordeckers). 7 The Stock Market, Housing and Consumer Spending: A Survey of the Evidence on Wealth Effects (Monica Paiella). 8 Price-Level Targeting and Stabilisation Policy: A Survey (Steve Ambler). Index.