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The 1920 S Hyperinflation In The Light Of The Rational Expectations Hypothesis
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Book Synopsis The 1920 ́s hyperinflation in the light of the Rational Expectations Hypothesis by : Arturo Minet
Download or read book The 1920 ́s hyperinflation in the light of the Rational Expectations Hypothesis written by Arturo Minet and published by GRIN Verlag. This book was released on 2007-07-10 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2006 in the subject Economics - History, grade: 1,0, University of Warwick, course: International Economic Systems since 1918, language: English, abstract: After the First World War, Europe had lost its unrivalled economic hegemony over the rest of the world. The very fundament of the world economy, which supposedly had given stability over all the years, namely the gold standard, had practically disappeared. Except for the US Dollar, major currencies were no more backed by gold. During the years of 1914 - 1918, the European great powers had to give up the gold standard to be able to finance the cost of war. This was done mostly by printing large sums of money and by uncontrolled borrowing. The reluctance of the governments to levy higher taxes made short- and long-term debt enormous. After the Great War public expenditure rose even more in most countries due to the reparation and reconstruction costs. The unavoidable consequence (in absence of a restrictive monetary policy) was inflation. This essay is going to describe what happened to those states which experienced hyperinflation and how the abrupt end of it can be explained in terms of the Rational Expectations Hypothesis.
Download or read book Inflation written by Robert E. Hall and published by University of Chicago Press. This book was released on 2009-05-15 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents the latest thoughts of a brilliant group of young economists on one of the most persistent economic problems facing the United States and the world, inflation. Rather than attempting an encyclopedic effort or offering specific policy recommendations, the contributors have emphasized the diagnosis of problems and the description of events that economists most thoroughly understand. Reflecting a dozen diverse views—many of which challenge established orthodoxy—they illuminate the economic and political processes involved in this important issue.
Book Synopsis Hyperinflation in Zimbabwe by : Tara McIndoe-Calder
Download or read book Hyperinflation in Zimbabwe written by Tara McIndoe-Calder and published by Springer Nature. This book was released on 2019-11-16 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the hyperinflation in Zimbabwe in the 2000s. The authors present a full description of the Zimbabwean hyperinflation in its relevant economic, historical and political context. They address parallels with other hyperinflations, discuss the economics of hyperinflation in general and of the Zimbabwean hyperinflation in particular, and provide a money demand estimation using a new dataset. The study concludes with several policy lessons. This book will be of interest to researchers in both social sciences and the humanities, as well as practitioners and policy-makers in development economics, and those in the banking industry.
Book Synopsis Money, Prices and the Real Economy by : Geoffrey Wood
Download or read book Money, Prices and the Real Economy written by Geoffrey Wood and published by Edward Elgar Publishing. This book was released on with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sets out, in straightforward, accessible terms, crucial aspects of monetary economics. It opens with an exposition of the fundamental question of what money is and what it does. Distinguished contributors then examine the key role of price stability and how to achieve it. Core issues addressed include: an examination of the long run effect of money on prices an analysis of the complex and variable relationship between money and fluctuations in the real economy an investigation of inflation and its dangerous consequences an analysis of the effect of regulation on the stability of financial systems in developed and developing countries the relationship between the money supply regime and economic performance the effect of monetary fluctuations on the interest rate the choice of targets for monetary policy. This book will be extremely useful to practising economists, students and scholars of financial and monetary economics.
Book Synopsis The Road to Full Employment by : Sean Glynn
Download or read book The Road to Full Employment written by Sean Glynn and published by Routledge. This book was released on 2018-12-07 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1987. This volume explores the inter-war unemployment problem and the development of economic and social policy in relation to that problem. Contemporary policies and levels of unemployment can only be compared with the inter-war period and in recent years economists and other commentators have increasingly turned their attention to the 1930s. This book is written by a group of expert historians and policy analysts who have been in the forefront of recent research. In particular, new insights into economic policy which have come from the release of cabinet and departmental papers at The Public Record Office are revealed. Recent economic theory is also taken into account and the findings question established views on many grounds. New economic lessons from the 1930s are suggested and some astonishing similarities to the 1980s and demonstrated. This work will be essential reading for students of modern British history and economic and social history as well as economic policy and government and politics.
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 Rational Expectations and Econometric Practice by : Robert E. Lucas
Download or read book Rational Expectations and Econometric Practice written by Robert E. Lucas and published by U of Minnesota Press. This book was released on 1988 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, governme.
Author :David Laidler Publisher :London, Ont. : Department of Economics, University of Western Ontario ISBN 13 : Total Pages :54 pages Book Rating :4.:/5 (318 download)
Book Synopsis Monetary Explanations of the Weimar Republic's Hyperinflation by : David Laidler
Download or read book Monetary Explanations of the Weimar Republic's Hyperinflation written by David Laidler and published by London, Ont. : Department of Economics, University of Western Ontario. This book was released on 1995 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Choice in Currency written by F. A. Hayek and published by Ludwig von Mises Institute. This book was released on 1976 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Book Synopsis Journal of Economics by : Missouri Valley Economic Association
Download or read book Journal of Economics written by Missouri Valley Economic Association and published by . This book was released on 1983 with total page 518 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The General Theory of Employment, Interest, and Money by : John Maynard Keynes
Download or read book The General Theory of Employment, Interest, and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
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 Routledge Handbook of Major Events in Economic History by : Randall E. Parker
Download or read book Routledge Handbook of Major Events in Economic History written by Randall E. Parker and published by Routledge. This book was released on 2013 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to introduce readers to the important macroeconomic events of the past two hundred years. It explains what went on and why during the most significant economic epochs of the nineteenth, twentieth and early twenty-first centuries and how where we are today fits in this historical timeline.
Book Synopsis Stopping High Inflation by : Mr.Carlos A. Végh Gramont
Download or read book Stopping High Inflation written by Mr.Carlos A. Végh Gramont and published by International Monetary Fund. This book was released on 1991-11-01 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Book Synopsis The Globalization Paradox by : Dani Rodrik
Download or read book The Globalization Paradox written by Dani Rodrik and published by OUP Oxford. This book was released on 2012-05-17 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.
Book Synopsis Macroeconometrics by : Kevin D. Hoover
Download or read book Macroeconometrics written by Kevin D. Hoover and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 575 pages. Available in PDF, EPUB and Kindle. Book excerpt: Each chapter of Macroeconometrics is written by respected econometricians in order to provide useful information and perspectives for those who wish to apply econometrics in macroeconomics. The chapters are all written with clear methodological perspectives, making the virtues and limitations of particular econometric approaches accessible to a general readership familiar with applied macroeconomics. The real tensions in macroeconometrics are revealed by the critical comments from different econometricians, having an alternative perspective, which follow each chapter.
