Wireless Network Security or The Volatility Machine

Wireless Network Security

Author: Yang Xiao

This timely volume, Wireless Network Security, provides broad coverage of wireless security issues including cryptographic coprocessors, encryption, authentication, key management, attacks and countermeasures, secure routing, secure medium access control, intrusion detection, epidemics, security performance analysis, security issues in applications, and much more. The contributions identify various vulnerabilities in the physical layer, MAC layer, IP layer, transport layer, and application layer, and focus on ways for strengthening security mechanisms and services throughout the layers. Wireless Network Security includes 15 rigorously refereed chapters from prominent international researchers working in this subject area. The material serves as a useful reference for researchers, graduate students, and practitioners seeking solutions to wireless and mobile security related issues.

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The Volatility Machine: Emerging Economics and the Threat of Financial Collapse

Author: Michael Pettis

This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture.

Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years.

Table of Contents:

	Introduction
Pt. I	The Structure of Financial Crises
1	Capital Structure and Policy Collapse: The Financial Crisis of the Late 1990s	3
2	Market Structure Issues	24
Pt. II	Global Liquidity and Capital Flows
3	Why Does Rich-Country Capital Flow to Poor Countries?	35
4	180 Years of Liquidity Expansion and International Lending	51
5	The Contraction of International Lending	72
Pt. III	The Corporate Finance of Crises
6	The Theory of Capital Structure and Financial Risk	91
7	The Capital Structure Trap	124
8	Toward a Theory of Sovereign Capital Structure Management	146
9	Debt Restructurings within a Corporate Finance Framework	172
Pt. IV	Conclusion
10	Conclusion: The New Financial Architecture	189
App	The Option Characteristics of Sovereign Debt	201
	Bibliography	217
	Index	229