Economic Instability And Stabilization Policy

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Economic Instability and Stabilization Policy

Author : Ralf Pauly
Publisher :
ISBN 13 : 9783658336271
Total Pages : 0 pages
Book Rating : 4.3/5 (362 download)

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Book Synopsis Economic Instability and Stabilization Policy by : Ralf Pauly

Download or read book Economic Instability and Stabilization Policy written by Ralf Pauly and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book pleads for a new orientation of government economic policy, as well as central bank policy, rejecting the traditional government stabilization policy that leads to a dead-end of economic instability and social inequality in the long run. Growing economic instability and increasing state stabilization characterize the development of the capitalist market economy since the major world economic crises of the last century. The book examines these crises and the measures states take to overcome them. Additionally, it addresses the effectiveness and consequences of state intervention. In presenting the main features of Keynes' and Minsky's macroeconomics, the book provides a conceptual basis for an outlook on government stabilization in a changing market economy. It thus also offers a suitable framework for current economic policy discussions. Finally, the book examines the wider context of economic history for lessons to be learned. This book is a must-read for scholars and students of economics, as well as policy-makers and practitioners, interested in a better understanding of macroeconomics, central bank policy, and the results of state intervention. .

Money, Financial Instability and Stabilization Policy

Author : L. Randall Wray
Publisher : Edward Elgar Publishing
ISBN 13 : 184720189X
Total Pages : 280 pages
Book Rating : 4.8/5 (472 download)

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Book Synopsis Money, Financial Instability and Stabilization Policy by : L. Randall Wray

Download or read book Money, Financial Instability and Stabilization Policy written by L. Randall Wray and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money, Financial Instability and Stabilization Policy consists of original articles by leading Post Keynesians, Kaleckians and other heterodox economists from the developed and developing world. Post Keynesian literature has long been associated with the study of money, financial markets and financial instability. Indeed, this is perhaps the area to which Post Keynesians have made the greatest contributions. The authors to this volume present an overview of the latest research on monetary theory and policy, financial markets, and financial instability coming out of the Post Keynesian school of thought. They provide an indication of the wide-ranging interests and of the truly international scope of Post Keynesian research. The first half of the volume is theoretical, while the second half includes papers that are either empirical or more focused on specific concerns. This book will find an appreciative audience in economists generally as well as Post Keynesian, other heterodox economists and macroeconomists specifically.

Stabilizing an Unstable Economy

Author : Hyman P. Minsky
Publisher : McGraw Hill Professional
ISBN 13 : 0071593004
Total Pages : 433 pages
Book Rating : 4.0/5 (715 download)

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Book Synopsis Stabilizing an Unstable Economy by : Hyman P. Minsky

Download or read book Stabilizing an Unstable Economy written by Hyman P. Minsky and published by McGraw Hill Professional. This book was released on 2008-05-01 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived.” -The Wall Street Journal In his seminal work, Minsky presents his groundbreaking financial theory of investment, one that is startlingly relevant today. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked slowdowns-and why the economy is now undergoing a credit crisis that he foresaw. Stabilizing an Unstable Economy covers: The natural inclination of complex, capitalist economies toward instability Booms and busts as unavoidable results of high-risk lending practices “Speculative finance” and its effect on investment and asset prices Government's role in bolstering consumption during times of high unemployment The need to increase Federal Reserve oversight of banks Henry Kaufman, president, Henry Kaufman & Company, Inc., places Minsky's prescient ideas in the context of today's financial markets and institutions in a fascinating new preface. Two of Minsky's colleagues, Dimitri B. Papadimitriou, Ph.D. and president, The Levy Economics Institute of Bard College, and L. Randall Wray, Ph.D. and a senior scholar at the Institute, also weigh in on Minsky's present relevance in today's economic scene in a new introduction. A surge of interest in and respect for Hyman Minsky's ideas pervades Wall Street, as top economic thinkers and financial writers have started using the phrase “Minsky moment” to describe America's turbulent economy. There has never been a more appropriate time to read this classic of economic theory.

The Debate Over Stabilization Policy

Author : Franco Modigliani
Publisher : Cambridge University Press
ISBN 13 : 0521267900
Total Pages : 294 pages
Book Rating : 4.5/5 (212 download)

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Book Synopsis The Debate Over Stabilization Policy by : Franco Modigliani

Download or read book The Debate Over Stabilization Policy written by Franco Modigliani and published by Cambridge University Press. This book was released on 1986-09-18 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 1986 book examines some of the main issues that have characterized macroeconomics: the debate between 'monetarists' and 'Keynesians'; the response to demand shocks and supply shocks, by which the monetary authorities control aggregrate nominal income and the use and relevance of the money supply as a target; and the consumption function and the determinants of wealth. It shows that Keynesian stabilization policies succeeded in reducing instability due to demand shocks dramatically, but that no aggregrate demand policy can stabilize both price and employment simultaneously after a supply shock. However, by assigning an overall 'social cost' to (excess) unemployment and (initially) unexpected inflation, an optimism path can be derived. In looking at the consumption function and determinants of wealth the empirical evidence is shown to be most consistent with the life-cycle hypothesis. A concluding section is devoted to the impact on private and national society of the 'social security revolution'.

America's Search for Economic Stability

Author : Kenneth Edward Weiher
Publisher : Macmillan Reference USA
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.:/5 (44 download)

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Book Synopsis America's Search for Economic Stability by : Kenneth Edward Weiher

Download or read book America's Search for Economic Stability written by Kenneth Edward Weiher and published by Macmillan Reference USA. This book was released on 1992 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States's search for economic stability through the twentieth century is a fascinating saga of triumphs and catastrophes, of theorists and policy-makers, of world and domestic events, and of politics and politicians. In this new book by the respected teacher and scholar Kenneth Weiher, readers are given a clear and concise tool for understanding the history of government stabilization policy and therefore contemporary economic conditions and policy changes. America's Search for Economic Stability is the product of synthesizing hundreds of sources in order to present a solid descriptive history of the evolution of government stabilization policy. Readers are guided through eight decades of analysis: from before the creation of the Federal Reserve, when virtually no policy existed; through the 1910s and 1920s, when monetary policy was in its early stages of development; through the 1930s, with their cataclysmic policy errors; through the 1940s to early 1960s, when Keynesian fiscal policy was ascendant; through the late 1960s and 1970s, when instability progressively worsened and monetarism was reborn; and finally to the 1980s, when stability was painfully but successfully reestablished. Highlighting these analyses are discussions of the development of new ideas, the application of theories in policy actions, and the people who devised the theories and implemented the policies. Throughout the presentation, readers come to understand that policymakers, in the process of seeking a formula for stabilization policy, have created far more instability than they have averted. As Weiher ably demonstrates, the government--through its incorrect interpretations of economic indicators and through the politicization of economic policy--has been responsible for the overwhelming majority of economic contractions and episodes of inflation occurring over the decades. Certain to spark the interest of students and teachers of history, economic history, and economics, America's Search for Economic Stability will appeal to a broad audience, for it is a guide not just to the past but to the present and future as well. Included are a preface, bibliographic essay, selected bibliography, and index.

Stabilization Policy

Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 330 pages
Book Rating : 4.:/5 (661 download)

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Book Synopsis Stabilization Policy by : Fouad Sabry

Download or read book Stabilization Policy written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-11 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Stabilization Policy In macroeconomics, a stabilization policy is a package or set of measures introduced to stabilize a financial system or economy. The term can refer to policies in two distinct sets of circumstances: business cycle stabilization or credit cycle stabilization. In either case, it is a form of discretionary policy. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Stabilization policy Chapter 2: International Monetary Fund Chapter 3: Fiscal policy Chapter 4: Exchange rate Chapter 5: Economic policy Chapter 6: 1997 Asian financial crisis Chapter 7: Deficit spending Chapter 8: Monetary policy Chapter 9: External debt Chapter 10: Austerity Chapter 11: Foreign exchange reserves Chapter 12: Impossible trinity Chapter 13: Structural adjustment Chapter 14: Optimum currency area Chapter 15: Economic stability Chapter 16: Adolfo Diz Chapter 17: Guillermo Calvo Chapter 18: Sudden stop (economics) Chapter 19: Fear of floating Chapter 20: South Korea and the International Monetary Fund Chapter 21: South Korean International Monetary Fund Agreement, 1997 (II) Answering the public top questions about stabilization policy. (III) Real world examples for the usage of stabilization policy in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Stabilization Policy.

Sustainable Fiscal Policy and Economic Stability

Author : Philippe Burger
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Sustainable Fiscal Policy and Economic Stability by : Philippe Burger

Download or read book Sustainable Fiscal Policy and Economic Stability written by Philippe Burger and published by Edward Elgar Publishing. This book was released on 2003 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The public debt/GDP ratio in several countries showed the largest ever peacetime increase during the last 20 years of the 20th century, thereby causing widespread fiscal unsustainability. Towards the latter half of the 1990s, several governments initiated steps to reverse this trend, however, they frequently found that their policies were not always successful. This book examines why. that merely running a primary surplus to restore fiscal sustainability will not always work. In effect, governments may simply shift the problem to other sectors of the economy, therby creating economic instability. By linking the budget constraints of govenment and non-governmental agents at a macroeconomic level, the author's framework allows him to measure how changes to the budget of one economic sector are transferred to the budgetary position of another sector. By taking account of thes sectoral balance effects, as well as the role of uncertainty and expectations, the book develops a set of rules for the maintnance of fiscal sustainability and economic stability. position of fiscal sustainability, this book should be useful for economists and academic working on fiscal and macroeconomic policy, especially from a Post-Keynesian perspective, and policymakers interested in ensuring economic and fiscal stability.

The Illusion of Economic Stability

Author : Eli Ginzberg
Publisher : Transaction Publishers
ISBN 13 : 1412837324
Total Pages : 302 pages
Book Rating : 4.4/5 (128 download)

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Book Synopsis The Illusion of Economic Stability by : Eli Ginzberg

Download or read book The Illusion of Economic Stability written by Eli Ginzberg and published by Transaction Publishers. This book was released on with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: In one of the foremost critiques of the widespread view that in market-based economics the fluctuations of the marketplace are essentially self-regulating, Eli Ginzberg argues the reverse. He asserts that government regulation or intervention to provide stability in the capitalist marketplace is a necessity. In this classic statement of macroeconomic theory, Ginzberg argues that self-directed stable economies, devoid of an appreciation of social and psychological factors, are essentially illusory. The ability of strong blocs--corporate, labor, and agricultural--to control the market in the hope of bettering their economic position places great difficulties in the path of securing a stable economy. For Ginzberg, economic fluctuations in the decade preceding the Great Depression can largely be explained by the interaction of technological, psychological, and monetary factors. Without these factors being subjected to some sort of control, economic stability must remain an illusion. The current period of a significant fall-off in earnings, profits, and full employment also followed a decade of unparalleled monetary growth. The concerns Ginzberg raised are relevant once again. It may turn out that the "neoliberalism" of the present has something to say in response to the free market/free society premises currently in vogue. In a brilliant introductory essay, Nobel Laureate Robert M. Solow offers an impressive report card on The Illusion of Economic Stability: "The prose is tighter and more aphoristic than late Ginzberg, and the tone is more detached, even sardonic." He concludes by admitting that a volatile stock market is one more reason why automatic economic stability seems as illusory today as it did when the book first appeared. Eli Ginzberg (1911-2002) was the acknowledged doyen of the Columbia University Department of Economics. He was the author of no fewer than 140 books, and countless articles. Among the most relevant to his work on economics are New Deal Days: 1933-1934, Adam Smith and the Founding of Market Economics, and A World Without Work. Robert M. Solow is Institute Professor Emeritus and Professor of Economics Emeritus at MIT and is one of the major figures of neo-Keynesian synthesis macroeconomics. In 1987 he was awarded the Nobel Memorial Prize in Economics.

Defense Against Recession

Author : Committee for Economic Development
Publisher :
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis Defense Against Recession by : Committee for Economic Development

Download or read book Defense Against Recession written by Committee for Economic Development and published by . This book was released on 1954 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Economic Shocks and Authoritarian Stability

Author : Victor C. Shih
Publisher :
ISBN 13 : 0472037676
Total Pages : 271 pages
Book Rating : 4.4/5 (72 download)

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Book Synopsis Economic Shocks and Authoritarian Stability by : Victor C. Shih

Download or read book Economic Shocks and Authoritarian Stability written by Victor C. Shih and published by . This book was released on 2020 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Economic Shocks and Authoritarian Stability hones in on the economic challenges facing authoritarian regimes through a set of comparative case studies, which include Iran, Iraq under Saddam Hussein, Malaysia, Indonesia, Russia, the Eastern bloc countries, China, and Taiwan, authored by the top experts in these countries. Through these comparative case studies, this volume provides readers with the analytical tools for assessing whether the current round of economic shocks will lead to political instability or even regime change among the world's autocracies. This volume identifies the duration of economic shocks, the regime's control over the financial system, and the strength of the ruling party as key variables to explain whether authoritarian regimes would maintain the status quo, adjust their support coalitions, or fall from power after economic shocks"--

The Debacle of Economic Stabilization Policies

Author : Antony P. Mueller
Publisher : Independently Published
ISBN 13 : 9781731202208
Total Pages : 136 pages
Book Rating : 4.2/5 (22 download)

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Book Synopsis The Debacle of Economic Stabilization Policies by : Antony P. Mueller

Download or read book The Debacle of Economic Stabilization Policies written by Antony P. Mueller and published by Independently Published. This book was released on 2018-11-13 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Antony P. Mueller, an internationally renowned associate scholar of the Ludwig von Mises Institute, launches a devastating attack against the prevailing conception of economic policy according to which the government and the monetary authorities have to stabilize the economy. This claim implies the assumption that the market economy is unstable. Yet what if when it is not the market economy but politics which produces instability? What if when the policy managers fabricate the opposite of their claim? What if when they do not smooth the business cycle but make it more extreme? What if when monetary policy does not cure inflation but instigates the erosion of the purchasing power of money? The great economic eruptions happen when the government and the central bank do not allow the small economic fluctuations to play out. The authorities hinder the return to a balance when false incentives and distorted market signals persist. When capital becomes scarcer, the interest rate should rise to signal this change. If, however, the central bank attempts to pump more money into the systems and to lower the interest rate, this policy will cover up the capital shortage. Cheap credit insinuates a profusion of funds that do not exist. Economic policy claims to stabilize the economy and keep it on its growth path. For that purpose, economic policy is said to pursue the aims to fight inflation and deflation, to prevent recessions and depressions and to promote economic growth. Yet, often, these policies themselves produce what the policymakers claim to prevent and to cure. This booklet, based on the comprehensive monograph "Beyond the State and Politics. Capitalism for the New Millennium" explains that the monetary authorities and the government do not improve economic performance but are the main culprits for a weak growth and the extreme swings of the economic activity. The author Antony Mueller is a German professor of economics who currently teaches in Brazil. He is an associate scholar of the Ludwig von Mises Institute and a senior fellow of the American Institute for Economic Research (AIER). Antony Mueller holds a doctorate in economics from the University of Erlangen-Nuremberg, Germany, and has taught and done research in Europe, the United States (where he also was a Fulbright Scholar), and in various parts of Latin America. He gained professional experience as a sovereign risk analyst.

The Problem of Economic Instability

Author : American Economic Association
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis The Problem of Economic Instability by : American Economic Association

Download or read book The Problem of Economic Instability written by American Economic Association and published by . This book was released on 1950 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Toward Economic Stability

Author : Maurice Wentworth Lee
Publisher :
ISBN 13 :
Total Pages : 202 pages
Book Rating : 4.:/5 (6 download)

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Book Synopsis Toward Economic Stability by : Maurice Wentworth Lee

Download or read book Toward Economic Stability written by Maurice Wentworth Lee and published by . This book was released on 1966 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Policies for Macrofinancial Stability

Author : Mr.Bas B. Bakker
Publisher : International Monetary Fund
ISBN 13 : 1475572689
Total Pages : 46 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Policies for Macrofinancial Stability by : Mr.Bas B. Bakker

Download or read book Policies for Macrofinancial Stability written by Mr.Bas B. Bakker and published by International Monetary Fund. This book was released on 2012-06-07 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note explores the costs and benefits of different policy options to reduce the risks associated with credit booms, drawing upon several country experiences and the findings from econometric analysis.

The Wreck Of Economic Stabilization Policies

Author : Roosevelt Lian
Publisher : Independently Published
ISBN 13 :
Total Pages : 160 pages
Book Rating : 4.4/5 (576 download)

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Book Synopsis The Wreck Of Economic Stabilization Policies by : Roosevelt Lian

Download or read book The Wreck Of Economic Stabilization Policies written by Roosevelt Lian and published by Independently Published. This book was released on 2021-08-15 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: A stabilization policy seeks to limit erratic swings in the economy's total output, as measured by the nation's gross domestic product (GDP), as well as controlling surges in inflation or deflation. Stabilization of these factors generally leads to healthy levels of employment. In this book, internationally renowned economist launches a massive attack against the conventional macroeconomic policies. He demasks the claim that macroeconomic policy is to stabilize the economy. He reveals that this claim implies the assumption that the market economy is inherently unstable, and asks: what if when it is not the market economy but politics which produces instability? What if when the policy managers fabricate the opposite of their claim? What if when they do not smoothen the business cycle but make it more extreme? What if monetary policy does not cure inflation but instigates the erosion of the purchasing power of money?

Crisis, Central Banks And Government

Author : Lino Killick
Publisher :
ISBN 13 :
Total Pages : 160 pages
Book Rating : 4.4/5 (566 download)

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Book Synopsis Crisis, Central Banks And Government by : Lino Killick

Download or read book Crisis, Central Banks And Government written by Lino Killick and published by . This book was released on 2021-08-14 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: A stabilization policy seeks to limit erratic swings in the economy's total output, as measured by the nation's gross domestic product (GDP), as well as controlling surges in inflation or deflation. Stabilization of these factors generally leads to healthy levels of employment. In this book, internationally renowned economist launches a massive attack against the conventional macroeconomic policies. He demasks the claim that macroeconomic policy is to stabilize the economy. He reveals that this claim implies the assumption that the market economy is inherently unstable, and asks: what if when it is not the market economy but politics which produces instability? What if when the policy managers fabricate the opposite of their claim? What if when they do not smoothen the business cycle but make it more extreme? What if monetary policy does not cure inflation but instigates the erosion of the purchasing power of money?

Economic Instability and Stabilization Policy

Author : Ralf Pauly
Publisher : Springer Nature
ISBN 13 : 3658336269
Total Pages : 233 pages
Book Rating : 4.6/5 (583 download)

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Book Synopsis Economic Instability and Stabilization Policy by : Ralf Pauly

Download or read book Economic Instability and Stabilization Policy written by Ralf Pauly and published by Springer Nature. This book was released on 2021-04-30 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book pleads for a new orientation of government economic policy, as well as central bank policy, rejecting the traditional government stabilization policy that leads to a dead-end of economic instability and social inequality in the long run. Growing economic instability and increasing state stabilization characterize the development of the capitalist market economy since the major world economic crises of the last century. The book examines these crises and the measures states take to overcome them. Additionally, it addresses the effectiveness and consequences of state intervention. In presenting the main features of Keynes’ and Minsky’s macroeconomics, the book provides a conceptual basis for an outlook on government stabilization in a changing market economy. It thus also offers a suitable framework for current economic policy discussions. Finally, the book examines the wider context of economic history for lessons to be learned. This book is a must-read for scholars and students of economics, as well as policy-makers and practitioners, interested in a better understanding of macroeconomics, central bank policy, and the results of state intervention.