Covering both Operation Desert Storm and Operation Iraqi Freedom as two campaigns within a single, if discontinuous, conflict, this book analyzes the strategic interaction between Iraq and the United ...States from 1990 to 2010 and the key operational decisions that determined the course of the war. The author's assessment of the long war against Iraq includes misunderstandings between government leaders in Iraq and the United States that led initially to war, ineffective UN sanctions, inefficient efforts by the Clinton administration, and uncoordinated actions by the Bush administration that then led to a preemptive strategy, continuation of conventional combat, and the evolution of an Iraqi insurgency. Ballard's thorough examination of these multiple operations within the context of a single conflict provides readers with rare and insightful perspectives on the complexity of modern war and the challenges of operational command. He first identifies the influence of the Vietnam era on the use of U.S. military power and the decision for war in 1990 and then outlines the important factors of Iraqi history and culture that dominated relations between the two nations during the 1980s and 1990s. Subsequent chapters examine the conduct of Desert Storm from the American and Iraqi perspectives and the military, economic, and diplomatic actions of the period between the two conventional campaigns. Final chapters analyze the 2003 offensive on Baghdad, the postwar stabilization operations that began with the failure to transition under the Coalition Provisional Authority, and the eventual implementation of a warfighting strategy that combined new doctrine and a surge of forces to protect the population in a renewed counterinsurgency campaign. A concluding chapter reviews key lessons for the future, including the importance of effective strategic decision
making and the operational mindset required to prosecute modern war successfully.
Limit orders and the bid–ask spread Chung, Kee H; Van Ness, Bonnie F; Van Ness, Robert A
Journal of financial economics,
08/1999, Letnik:
53, Številka:
2
Journal Article
Recenzirano
We examine the role of limit-order traders and specialists in the market-making process. We find that a large portion of posted bid–ask quotes originates from the limit-order book without direct ...participation by specialists, and that competition between traders and specialists has a significant impact on the bid–ask spread. Specialists’ spreads are widest at the open, narrow until late morning, and then level off. The
U-shaped intraday pattern of spreads largely reflects the intraday variation in spreads established by limit-order traders. Lastly, the intraday variation in limit-order spreads is significantly related to the intraday variation in limit-order placements and executions.
We empirically investigate the evolution of liquidity, as well as the changing strategies of informed traders, over the course of the trading day. In particular, we empirically examine the relative ...use of market versus limit orders by informed and liquidity traders early versus later in the trading day using detailed order and audit trail data from the NYSE. Our study complements experimental research that shows that informed traders tend to take liquidity earlier in the trading day while acting as liquidity suppliers later in the day. We find that informed (i.e., institutional) traders actually use market orders more often in the first half of the day than the second. We also find support for informed traders’ use of limit orders. Limit orders placed by informed traders perform better than those placed by uninformed (i.e., individual) traders. Our findings serve to underscore the importance of developing new theoretical models to more accurately reflect the changing and complex trading milieu.
The era of American hegemony over the Arab state system beginning in 1990 has witnessed the exhaustion of Arab nationalism, destruction of the republican states influenced by its formalized ...ideological praxis, and the routine denial of universal human rights and Arab self-determination.
Of parallel concern to this humanitarian calamity, the period has been marked by the growth of militarized non-state actors and the promotion of sectarian political identities. These phenomena are the result of policy choices, often exercised by outside power, or local elites aligned with
outside power, that have driven radicalization and subverted inter-communal comity, thwarting the potential for political legitimacy at the national level. When alloyed together these phenomena, fastened as they are to Pax Americana, delineate a chaos marked by the absence of political leadership
at all levels. This chaos confronts both the few remaining regional actors continuing to manage functional state institutions and those who possess some measure of political legitimacy and who attempt statebuilding, with a necessary focus on bringing order beyond their domains. Building social
comity and economic development in the absence of political institutions will require a regional solution that invites the participation of all actors and the redress of legitimate grievances. The alternative, whereby greater militarized intervention and increased radicalization exploit sectarian
logics, will result in expanded humanitarian wreckage and the potential ruin of the remaining institutions of governance
By partitioning quoted depth into the specialist's contribution and the limit order book's contribution, the paper investigates whether specialists manage quoted depth to reduce adverse selection ...risk. The results show that both specialists and limit order traders reduce depth around information events, thereby reducing their exposure to adverse selection costs. Moreover, specialists' quotes may reflect only the limit order book on the side (or sides) of the market where they believe there is a chance of informed trading. Changes in quoted depth are consistent with specialists managing their inventory as well as having knowledge of the stock's future value.
An incisive analysis of the use of the press for propaganda purposes during conflicts, using the first Gulf War and the intervention in Kosovo as case studies.
As the contemporary analysis of ...propaganda during conflict has tended to focus considerably upon visual and instant media coverage, this book redresses the imbalance and contributes to the growing discourse on the role of the press in modern warfare.
Through an innovative comparative analysis of press treatment of the two conflicts it reveals the existence of five consistent propaganda themes: portrayal of the leader figure, portrayal of the enemy, military threat, threat to international stability and technological warfare. As these themes construct a fluid model for the analysis and understanding of propaganda content in the press during conflicts involving British forces, they also provide the background against which the author can discuss general issues regarding propaganda. Amongst the issues which have become increasingly relevant to both recent academic debate and popular culture, the author tackles the role of the journalist in war coverage, the place of the press in a news market dominated by ‘instant’ visual media and the effectiveness of propaganda in specific cultural and political context.
This book will appeal to advanced students and researchers in war studies, media studies/propaganda and psychology.
The Art of Making Peace van Hoogstraten, Steven; Schrijver, Nico; Spijkers, Otto ...
2016
eBook
This unique volume looks at international peace treaties, at their results, effects and failures. It reflects the outcome of an international conference held in the Peace Palace (The Hague) on the ...occasion of the Centenary of this institution, which opened its doors on the eve of World War I.
The article discusses the evolution of the Palestinian community in Kuwait in the wake of the 1948 War. The demand for skilled labour facilitated the gradual integration of the Palestinians into ...Kuwaiti society, especially in the education system and state institutions. In this regard the article examines the role of education and students in creating personal and political socio-economic networks. The relatively liberal political atmosphere in Kuwait during its years of development transformed it into a hotbed for Palestinian political activism. This trend continued up to the 1991 Gulf War, when Yasir Arafat's support of Saddam Husayn in that wa, caused the fall from grace of the Palestinians in Kuwait. This ended the central role that the Palestinians played in the historical process of Kuwait state building. Following the death of Arafat the PLO began to seek reconciliation with Kuwait. At this timely moment in the history of relations between these two communities, the article sheds light on these efforts.
Common and destructive, limited wars are significant international events that pose a number of challenges to the states involved beyond simple victory or defeat. Chief among these challenges is the ...risk of escalation—be it in the scale, scope, cost, or duration of the conflict. In this book, Spencer D. Bakich investigates a crucial and heretofore ignored factor in determining the nature and direction of limited war: information institutions.Traditional assessments of wartime strategy focus on the relationship between the military and civilians, but Bakich argues that we must take into account the information flow patterns among top policy makers and all national security organizations. By examining the fate of American military and diplomatic strategy in four limited wars, Bakich demonstrates how not only the availability and quality of information, but also the ways in which information is gathered, managed, analyzed, and used, shape a state's ability to wield power effectively in dynamic and complex international systems.Utilizing a range of primary and secondary source materials, Success and Failure in Limited War makes a timely case for the power of information in war, with crucial implications for international relations theory and statecraft.
This volume of the Official History of Australian Peacekeeping, Humanitarian and Post-Cold War Operations is the first comprehensive study of Australia's role in the peacekeeping and peace ...enforcement operations that developed at the end of the Cold War. It recounts vital missions including Namibia (1989-90), Iran (1988-90) and Pakistan/Afghanistan (1989-93), and focuses primarily on Australia's reaction to Iraq's invasion of Kuwait in 1990, including its maritime interception operations, and its controversial participation in the 1991 Gulf War. With exclusive access to Australian Government records and through extensive interviews, David Horner explains the high-level political background to these activities and analyses the conduct of the missions. He brings to life the little-known, yet remarkable stories of many individuals who took part. This is an authoritative and compelling history of how members of the Australian Defence Force engaged with the world at a crucial time in international affairs.
