Inflation, Recession and Economic Policy
Author | : Hyman P. Minsky |
Publisher | : Brighton, Sussex : Wheatsheaf Books |
Total Pages | : 336 |
Release | : 1982 |
Genre | : Business & Economics |
ISBN | : |
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Author | : Hyman P. Minsky |
Publisher | : Brighton, Sussex : Wheatsheaf Books |
Total Pages | : 336 |
Release | : 1982 |
Genre | : Business & Economics |
ISBN | : |
Author | : Michael D. Bordo |
Publisher | : University of Chicago Press |
Total Pages | : 545 |
Release | : 2013-06-28 |
Genre | : Business & Economics |
ISBN | : 0226066959 |
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 |
Total Pages | : 244 |
Release | : 2013-09-11 |
Genre | : Business & Economics |
ISBN | : 1483264564 |
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 |
Total Pages | : 58 |
Release | : 2011-06-01 |
Genre | : Business & Economics |
ISBN | : 1455263389 |
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 | : |
Total Pages | : 136 |
Release | : 1972 |
Genre | : Business & Economics |
ISBN | : |
"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 |
Total Pages | : 646 |
Release | : 1985-06-01 |
Genre | : Political Science |
ISBN | : 9780815723677 |
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 | : Steven Ricchiuto |
Publisher | : Greenleaf Book Group Press |
Total Pages | : |
Release | : 2016-12-20 |
Genre | : |
ISBN | : 9781626343962 |
Author | : Péter Erdős |
Publisher | : |
Total Pages | : 304 |
Release | : 1990 |
Genre | : Business & Economics |
ISBN | : |
Author | : David Caplovitz |
Publisher | : SAGE Publications, Incorporated |
Total Pages | : 310 |
Release | : 1979 |
Genre | : Business & Economics |
ISBN | : |