Why do currency crises happen? What conditions set the stage for such a crisis? How severe will it be? When will it happen? This book answers these questions, illustrating the points by examining the exchange rate realignments of the European Monetary System. It also shows how balancing the tension between domestic and international politics plays a vital part in a government's willingness to uphold its exchange rate commitments. Michele Chang pays particular attention to the role of domestic elections, since these may prevent governments from credibly committing to a fixed exchange rate and from responding quickly and coherently to market instability, thus encouraging speculation.

To have a voice in shaping government policy has been a goal of the American people since the nation's founding. Yet, government seems even less accessible now than in the past. An increasing rate of incumbency in Congress, the unwieldy committee system that controls legislation, and the decline of political parties have all weakened representation and alienated Americans from the seat of power. The one remaining way to produce major and coherent change in national policy is through partisan realignment—a sharp, enduring shift in voter support of the two major parties. This book is about the phenomenon of realignment in American politics. It not only brings together and assesses previous work in the area but also breaks new ground in the analysis of the effects of realignment on political elites and public policy. In addition, it is the first study to present an integrated theory of realignment that can be applied to the understanding of mass, elite, and policy change in times of social crisis. Contributors include Lawrence McMichael, David Nexon, Louis Seagull, Robert Lehnen, Philip Converse, Gregory Markus, Lester Seligman, Michael King, David Brady, Kenneth Meier, Kenneth Kramer, David Adamany, Charles Stewart, Susan Hansen, and the editors.Bruce A. Campbell taught political science at the University of Georgia. He is the author of The American Electorate.

This paper explores the determinants of expected rates of realignment of the French franc/Deutsche mark exchange rate during the period 1987-1991. It does so by first estimating expected parity changes and then relating these to economic variables that are believed to influence agents’ realignment expectations. Time-varying expected rates of realignment are estimated in two ways: one, by adjusting short-term euromarket interest rate differentials for the expected rate of change of the FF/DM exchange rate within the EMS fluctuation band and two, by the differential in the yield on long-term government bonds. The behavior of the exchange rate within the band is found to be consistent with mean reversion and the expected change is nontrivial. Thus, by filtering out the expected mean reversion within the band from short-term interest rate differentials more precise measures of expected changes in the central parity are obtained. Realignment expectations are found to be closely related to the evolution of fundamental economic variables and, for shorter horizons, the position of the franc in the fluctuation band.

One of the most significant techniques to which companies and organizations have turned to improve service delivery and reduce costs has been outsourcing. Over the last 10 years, almost any process has been successfully outsourced. But during that period there have been failures too; projects that never realised their objectives or that had unforeseen impact on business. Global Outsourcing Strategies is a state-of-the-art guide to the best lessons to be learned for successfully implementing and outsourcing projects, or for revisiting existing operations. The 22 chapters explore some of the new areas for outsourcing, after traditional targets such as IT and finance. Information is provided on the different facets of the outsourcing process, such as contract negotiation, the risks involved in outsourcing, the need for service level agreements, the critical requirements needed to build and sustain outsourcing relationships, and ethical supply chain issues. There are also sections exploring the impact of outsourcing on organizational structures; the long term effects; legal issues; management control and inter-firm relationships; as well as case studies from both the public and private sector on the practical side of outsourcing. The book will appeal to practitioners and researchers alike. This is a must-have guide for any organization approaching outsourcing as a global (or local) strategy and for those organizations now reviewing or developing their outsourcing partnerships.

Why do so many organizations fail to mobilize the social networks of employees to respond to disruptions, innovate, and change? In Digital Relationships, Jason Davis argues that individual and organizational interests about networking can come out of alignment such that the network ties that individuals form are organizationally sub-optimal for achieving their most ambitious goals. Developing a new perspective about networks and organizations, he explains through network agency theory how network problems emerge, the role of digital technology adoption by organizations in amplifying misalignment, and the capacity of managers and function of the executive to resolve agency problems and mitigate their impact. Drawing on over a decade of qualitative research in US, Asian, and European "big tech" companies and new analytical and computational modeling, this book offers new interpretations and solutions to the pathologies that emerge from organizationally detrimental networking behaviors and in the face of managerial interventions.

The process of electoral change is accelerating in contemporary democracies, and this book explains why. The emergence of Green parties in the 1980s and recent far right parties, Brexit and Trump's 2016 victory are parts of this overall process. Political Realignment tracks the evolution of citizen and elite opinions on economic and cultural issues from the 1970s to the 2010s-and the impact of these changes on electoral politics and public policy. Citizen positions on these cleavages have realigned over time, producing a similar realignment in the structure of the party systems to represent these demands. Economic issues remain important, now joined by divisions on cultural issues as a backlash to modernization. Assembling an unprecedented time series of empirical evidence, this study explains the new forces of elector change in both Europe and the United States.