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Author : Hyman P. Minsky
Publisher : Brighton, Sussex : Wheatsheaf Books
ISBN 13 :
Total Pages : 336 pages
Book Rating : 4.X/5 ( download)
Download or read book Inflation, Recession and Economic Policy written by Hyman P. Minsky and published by Brighton, Sussex : Wheatsheaf Books. This book was released on 1982 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Author : Alan S. Blinder
Publisher : Elsevier
ISBN 13 : 1483264564
Total Pages : 244 pages
Book Rating : 4.4/5 (832 download)
Download or read book Economic Policy and the Great Stagflation written by Alan S. Blinder and published by Elsevier. This book was released on 2013-09-11 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Policy and the Great Stagflation discusses the national economic policy and economics as a policy-oriented science. This book summarizes what economists do and do not know about the inflation and recession that affected the U.S. economy during the years of the Great Stagflation in the mid-1970s. The topics discussed include the basic concepts of stagflation, turbulent economic history of 1971-1976, anatomy of the great recession and inflation, and legacy of the Great Stagflation. The relation of wage-price controls, fiscal policy, and monetary policy to the Great Stagflation is also elaborated. This publication is beneficial to economists and students researching on the history of the Great Stagflation and policy errors of the 1970s.
Author : Laurence M. Ball
Publisher : International Monetary Fund
ISBN 13 : 1455263389
Total Pages : 58 pages
Book Rating : 4.4/5 (552 download)
Download or read book Inflation Dynamics and the Great Recession written by Laurence M. Ball and published by International Monetary Fund. This book was released on 2011-06-01 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines inflation dynamics in the United States since 1960, with a particular focus on the Great Recession. A puzzle emerges when Phillips curves estimated over 1960-2007 are ussed to predice inflation over 2008-2010: inflation should have fallen by more than it did. We resolve this puzzle with two modifications of the Phillips curve, both suggested by theories of costly price adjustment: we measure core inflation with the median CPI inflation rate, and we allow the slope of the Phillips curve to change with the level and vairance of inflation. We then examine the hypothesis of anchored inflation expectations. We find that expectations have been fully "shock-anchored" since the 1980s, while "level anchoring" has been gradual and partial, but significant. It is not clear whether expectations are sufficiently anchored to prevent deflation over the next few years. Finally, we show that the Great Recession provides fresh evidence against the New Keynesian Phillips curve with rational expectations.
Author : Robert S. Ozaki
Publisher :
ISBN 13 :
Total Pages : 136 pages
Book Rating : 4.3/5 (91 download)
Download or read book Inflation, Recession ... and All that written by Robert S. Ozaki and published by . This book was released on 1972 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is an informal introduction to economics, intended to expose its central ideas and show that economics can serve as a useful mode of thinking through which we can look at and analyze certain problems of man and society."--Preface of book.
Author : Leon Lindberg
Publisher : Brookings Institution Press
ISBN 13 : 9780815723677
Total Pages : 646 pages
Book Rating : 4.7/5 (236 download)
Download or read book The Politics of Inflation and Economic Stagnation written by Leon Lindberg and published by Brookings Institution Press. This book was released on 1985-06-01 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: The inflation of the 1970s represented the greatest peacetime disruption of the Western economies since the Depression. Even as inflation receded, the recession in its wake brought more joblessness than at any time since the 1930s. The governments of industrialized nations found that the economic policies they had developed since World War II no longer assured price stability or high employment. What are the lessons of over a decade of economic difficulty? In this conference volume, which focuses on aspects of the crisis that economists often presuppose to be beyond control, the authors analyze the political and social underpinning of inflation and recession. Part 1 places the economic problems of the 1970s in the historical context of postwar development and then compares economic and political science analyses of inflation. Part 2 examines how rivalries between social groups affect inflationary processes. One chapter draws on the history of Latin American inflation to suggest the conflicts in play. Two others weigh the role of labor and industry in the formation of economic policy. And another shows how rivalry between countries, like rivalry between classes at home, permitted inflation to rise. The chapters in part 3 contest the claim that big government or big labor causes inflation. Two studies emphasize that a high degree of public expenditure does not itself lead to inflation. Further contributions explore the role of central banks and subject such concepts as the political business cycle to critical analysis. Part 4 comprises case studies about macroeconomic policymaking in four nations: Italy, Germany, Japan, and Sweden. The studies reveal what institutional attributes rendered those countries resistant to inflation or vulnerable to economic setback. In the last part, the editors pull together the findings and lay out the contemporary political feasibility of alternative approaches to macroeconomic management.
Author :
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 (121 download)
Download or read book Foreign Exchange Value of the Dollar written by and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven Ricchiuto
Publisher : Greenleaf Book Group Press
ISBN 13 : 9781626343962
Total Pages : pages
Book Rating : 4.3/5 (439 download)
Download or read book Disequilibrium written by Steven Ricchiuto and published by Greenleaf Book Group Press. This book was released on 2016-12-20 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Péter Erdős
Publisher :
ISBN 13 :
Total Pages : 304 pages
Book Rating : 4.:/5 (321 download)
Download or read book Inflation and Recession in the U.S. Economy in the 1970s written by Péter Erdős and published by . This book was released on 1990 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert J. Samuelson
Publisher : Random House Trade Paperbacks
ISBN 13 : 0812980042
Total Pages : 353 pages
Book Rating : 4.8/5 (129 download)
Download or read book The Great Inflation and Its Aftermath written by Robert J. Samuelson and published by Random House Trade Paperbacks. This book was released on 2010-01-26 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Inflation in the 1960s and 1970s, notes award-winning columnist Robert J. Samuelson, played a crucial role in transforming American politics, economy, and everyday life. The direct consequences included stagnation in living standards, a growing belief—both in America and abroad—that the great-power status of the United States was ending, and Ronald Reagan’s election to the presidency in 1980. But that is only half the story. The end of high inflation led to two decades of almost uninterrupted economic growth, rising stock prices and ever-increasing home values. Paradoxically, this prolonged prosperity triggered the economic and financial collapse of 2008 and 2009 by making Americans—from bank executives to ordinary homeowners—overconfident, complacent, and careless. The Great Inflation and its Aftermath, Samuelson contends, demonstrated that we have not yet escaped the boom-and-bust cycles common in the nineteenth and early twentieth centuries. This is a sobering tale essential for anyone who wants to understand today’s world.
Author : David Miles
Publisher : Geneva Reports on the World Ec
ISBN 13 : 9781912179053
Total Pages : 128 pages
Book Rating : 4.1/5 (79 download)
Download or read book And Yet it Moves written by David Miles and published by Geneva Reports on the World Ec. This book was released on 2018-10-30 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last decade, the developed world has been hit by the deepest recession since the Great Depression and a rollercoaster in commodity prices. And yet, core inflation has been both low and fairly stable. A rule of thumb that inflation is always near 2%, though more often than not just a bit below, has been quite reliable. The young, or those with short memories, could be forgiven for looking condescendingly at their older friends who speak of inflation as a major economic problem. But, like Galileo Galilei told his contemporaries who thought the Earth was immovable, "Eppur si muove" ("and yet it moves"). Since most societies regard stable inflation as a goal, it is tempting to describe this solid anchoring of inflation as a great achievement of monetary policy. But what if it was just luck? Will the great anchoring soon lead a great bout of inflation, just as the Great Moderation was followed by the Great Recession? Do we need to change the way in which policy is set to better handle changed circumstances since the financial crash? The 19th Geneva Report on the World Economy starts by analysing outcomes across countries for the last ten years. Inflation is compared with its behaviour in the period before the financial crash to assess the extent to which it really has been stable, what the proximate causes are, and whether it will stay low in future. The report then assesses theories of inflation in light of these facts, and tries to make sense of them. Next, the report turns to the question we posed at the start: was it good policy or good luck that prevented severe deflation and kept inflation relatively steady? A description of what policies were adopted and how they interacted with economic shocks informs the conclusions on appropriate policies--both monetary and fiscal--for the future. The report pays particular attention tothe role of central banks and the extent of their activities.
Author : David Caplovitz
Publisher : SAGE Publications, Incorporated
ISBN 13 :
Total Pages : 310 pages
Book Rating : 4.3/5 (91 download)
Download or read book Making Ends Meet written by David Caplovitz and published by SAGE Publications, Incorporated. This book was released on 1979 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Olivier J. Blanchard
Publisher : International Monetary Fund
ISBN 13 : 1513536613
Total Pages : 29 pages
Book Rating : 4.5/5 (135 download)
Download or read book Inflation and Activity – Two Explorations and their Monetary Policy Implications written by Mr.Olivier J. Blanchard and published by International Monetary Fund. This book was released on 2015-11-06 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years in 23 countries. We find that a high proportion of them have been followed by lower output or even lower growth. To examine the second, we estimate a Phillips curve relation over the past 50 years for 20 countries. We find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then. We draw implications of our findings for monetary policy.
Author : Scott Sumner
Publisher : University of Chicago Press
ISBN 13 : 0226826562
Total Pages : 415 pages
Book Rating : 4.2/5 (268 download)
Download or read book The Money Illusion written by Scott Sumner and published by University of Chicago Press. This book was released on 2023-05-06 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book-length work on market monetarism, written by its leading scholar. Is it possible that the consensus around what caused the 2008 Great Recession is almost entirely wrong? It’s happened before. Just as Milton Friedman and Anna Schwartz led the economics community in the 1960s to reevaluate its view of what caused the Great Depression, the same may be happening now to our understanding of the first economic crisis of the 21st century. Foregoing the usual relitigating of problems such as housing markets and banking crises, renowned monetary economist Scott Sumner argues that the Great Recession came down to one thing: nominal GDP, the sum of all nominal spending in the economy, which the Federal Reserve erred in allowing to plummet. The Money Illusion is an end-to-end case for this school of thought, known as market monetarism, written by its leading voice in economics. Based almost entirely on standard macroeconomic concepts, this highly accessible text lays the groundwork for a simple yet fundamentally radical understanding of how monetary policy can work best: providing a stable environment for a market economy to flourish.
Author : M. Ayhan Kose
Publisher : World Bank Publications
ISBN 13 : 1464815283
Total Pages : 475 pages
Book Rating : 4.4/5 (648 download)
Download or read book A Decade after the Global Recession written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-19 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: This year marks the tenth anniversary of the 2009 global recession. Most emerging market and developing economies weathered the global recession relatively well, in part by using the sizable fiscal and monetary policy ammunition accumulated during prior years of strong growth. However, their growth prospects have weakened since then, and many now have less policy space. This study provides the first comprehensive stocktaking of the past decade from the perspective of emerging market and developing economies. Many of these economies have now become more vulnerable to economic shocks. The study discusses lessons from the global recession and policy options for these economies to strengthen growth and prepare for the possibility of another global downturn.
Author : United States. Congress. Senate. Committee on the Budget
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (327 download)
Download or read book Inflation and Recession written by United States. Congress. Senate. Committee on the Budget and published by . This book was released on 1980 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven Ricchiuto
Publisher : Greenleaf Book Group
ISBN 13 : 1626343977
Total Pages : 207 pages
Book Rating : 4.6/5 (263 download)
Download or read book Disequilibrium written by Steven Ricchiuto and published by Greenleaf Book Group. This book was released on 2016-12-20 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: Who caused the Great Recession? We did. In Disequilibrium,economist Steven Ricchiuto traces how destructive changes in our economic systems have created our present unbalanced economy. He expertly shows how today’s disequilibrium between supply and demand came from decades of misguided economic policies made in response to the Great Inflation of the 1970s and 1980s. Ricchiuto then goes even further, investigating how economic forces created in the World War II era laid the groundwork for this destructive shift. Ricchiuto's timely book offers a method for assessing macro economic credit quality and suggests policy makers alter their behavior to handle new macro dynamics. Today’s economic framework cannot be counted on to protect us forever. In Disequilibrium, Ricchiuto shows us where we went wrong in the past so that we can work to get the future right.
