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Money Inflation And Recession In The Uk And The Usa
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Book Synopsis The Great Inflation by : Michael D. Bordo
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.
Book Synopsis The Economics of World War I by : Stephen Broadberry
Download or read book The Economics of World War I written by Stephen Broadberry and published by Cambridge University Press. This book was released on 2005-09-29 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
Book Synopsis Monetarism in the United States and the United Kingdom by : United States. Congress. Joint Economic Committee
Download or read book Monetarism in the United States and the United Kingdom written by United States. Congress. Joint Economic Committee and published by . This book was released on 1982 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation Expectations by : Peter J. N. Sinclair
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Book Synopsis Inflation in Emerging and Developing Economies by : Jongrim Ha
Download or read book Inflation in Emerging and Developing Economies written by Jongrim Ha and published by World Bank Publications. This book was released on 2019-02-24 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
Book Synopsis Monetary Trends in the United States and the United Kingdom by : Milton Friedman
Download or read book Monetary Trends in the United States and the United Kingdom written by Milton Friedman and published by University of Chicago Press. This book was released on 2011-03-15 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: The special task of this book is to present a statistical and theoretical analysis of the relation between the quantity of money and other key economic magnitudes over periods longer than those dominated by cyclical fluctuations-hence the term trends in the title. This book is not restricted to the United States but includes comparable data for the United Kingdom.
Book Synopsis Money in the Great Recession by : Tim Congdon, CBE
Download or read book Money in the Great Recession written by Tim Congdon, CBE and published by Edward Elgar Publishing. This book was released on 2017-06-30 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: No issue is more fundamental in contemporary macroeconomics than the causes of the recent Great Recession. The standard view is that the banks were to blame because they took on too much risk, ‘went bust’ and had to be bailed out by governments. But very few banks actually had losses in excess of their capital. The counter-argument presented in this stimulating new book is that the Great Recession was in fact caused by a collapse in the rate of change of the quantity of money. The book’s argument echoes that on the causes of the Great Depression made by Friedman and Schwartz in their classic book A Monetary History of the United States.
Download or read book Austerity written by Mark Blyth and published by Oxford University Press. This book was released on 2015 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Austerity: The History of a Dangerous Idea, Mark Blyth, a renowned scholar of political economy, provides a powerful and trenchant account of the shift toward austerity policies by governments throughout the world since 2009. The issue is at the crux about how to emerge from the Great Recession, and will drive the debate for the foreseeable future.
Book Synopsis Foreign Exchange Value of the Dollar by :
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:
Book Synopsis The Money Illusion by : Scott Sumner
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.
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.
Book Synopsis Conservative Capitalism in Britain and the United States (RLE Social Theory) by : Raymond Plant
Download or read book Conservative Capitalism in Britain and the United States (RLE Social Theory) written by Raymond Plant and published by Routledge. This book was released on 2014-08-21 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The shock waves of conservative advances have reached into every corner of American and British politics. Parties of the right have prospered, while parties of the left have stumbled, retreated, and are now regrouping. The agenda for both right and left is set by the terms of the free-market doctrines that have displaced the post-war consensus politics of liberal capitalism. This volume describes and challenges the ideological basis of the free-market right. Though critiques of the policies of the Reagan and Thatcher governments are hardly in short supply, this major new study offers the most thorough and up-to-date analysis available. No other book considers in such depth conservative ideas and policies on both sides of the Atlantic. It provides the first clear account of the distinction between conservative and other forms of capitalism. It also examines the fault lines dividing opposing camps within conservative capitalism and their consequences for domestic policy in Britain and the US. Linking political theory and public policy, it is one of the few critical appraisals of the New Right based on a clear understanding of what the arguments for the free market really are. Finally, the authors demonstrate what the left needs to learn from its failures, how to remould its understanding of the relationship between politics and the market, and how to recapture the lost initiative.
Book Synopsis The inflation crisis, and how to resolve it by : Henry Hazlitt
Download or read book The inflation crisis, and how to resolve it written by Henry Hazlitt and published by Ludwig von Mises Institute. This book was released on 1978 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Saving the City by : Richard Roberts
Download or read book Saving the City written by Richard Roberts and published by Oxford University Press, USA. This book was released on 2013-11 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: A week before the outbreak of the First World War, an acute financial crisis surged over London: the Stock Exchange closed; money markets worldwide were paralysed. Drawing on diaries, letters, memoirs, press reports, and official archives, this book tells the extraordinary, and largely unknown, story of the first true global financial crisis.
Book Synopsis Conservative Capitalism in Britain and the United States (RLE Social Theory) by : Raymond Plant
Download or read book Conservative Capitalism in Britain and the United States (RLE Social Theory) written by Raymond Plant and published by Routledge. This book was released on 2014-08-21 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: The shock waves of conservative advances have reached into every corner of American and British politics. Parties of the right have prospered, while parties of the left have stumbled, retreated, and are now regrouping. The agenda for both right and left is set by the terms of the free-market doctrines that have displaced the post-war consensus politics of liberal capitalism. This volume describes and challenges the ideological basis of the free-market right. Though critiques of the policies of the Reagan and Thatcher governments are hardly in short supply, this major new study offers the most thorough and up-to-date analysis available. No other book considers in such depth conservative ideas and policies on both sides of the Atlantic. It provides the first clear account of the distinction between conservative and other forms of capitalism. It also examines the fault lines dividing opposing camps within conservative capitalism and their consequences for domestic policy in Britain and the US. Linking political theory and public policy, it is one of the few critical appraisals of the New Right based on a clear understanding of what the arguments for the free market really are. Finally, the authors demonstrate what the left needs to learn from its failures, how to remould its understanding of the relationship between politics and the market, and how to recapture the lost initiative.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451956029 Total Pages :229 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff Papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff Papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1963-01-01 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses effects of inflation on economic development. A mild inflation may well encourage little, or no, evasion of the “inflation tax.” On the other hand, a strong inflation, and frequently a mild one also, will lead to community reactions which have effects like those of widespread tax evasion. A development policy may have wider aims than the encouragement of a high level of investment. Inflation has two effects on the desire for liquidity, which are related to the two basic reasons why individuals and businesses wish to hold liquid assets—the speculative and precautionary motives. Inflation increases the value of effective liquidity, thereby raising the community's desire for it, but it makes the most generally accepted store of liquidity unacceptable sources of protection. The control of inflation is only one of the problems facing a government wishing to encourage rapid economic development. The fight against illiteracy, the reform of bureaucratic practices, the building of basic sanitary facilities for the eradication of endemic diseases, the substitution of competitive for monopolistic trade practices, the encouragement of a widespread spirit of entrepreneurship, and the creation of an adequate amount of social capital, may be important prerequisites for rapid growth.
Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens
Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
