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 s 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.
The most powerful force in the world economy today is the redefinition of the relationship between state and marketplace - a process that goes by the name of privatization though this term is inadequate to express its far-reaching changes.
We are moving from an era in which governments sought to seize and control the 'commanding heights' of the economy to an era in which the idea of free markets is capturing the commanding heights of world economic thinking. Basic views of how society ought to be organized are undergoing rapid change, trillions of dollars are changing hands and so is fundamental political power. Great new wealth is being created - as are huge opportunities and huge risks. United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks.
Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives.
Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.
An accessible and engaging introduction to the big picture of UK and international economics Are you studying macroeconomics, but don't know inflation from stagflation?
Have no fear! This easy-to-understand guide, written specifically for the UK market, is packed with real-world examples and cases that easily illustrate the key concepts you'll need to know to fully grasp macroeconomics and ace your exams.
Taking a fun, step-by-step approach to the topic, this great guide provides an engaging introduction to macroeconomics and then delves into more specific topics, such as business cycles, inflation, unemployment, domestic output, monetary policy, and much more. When it comes to the interaction of politics, business decisions, consumer actions, and monetary policy, the study of economics is international in scope.
That means you must understand not just the economies of nations, but also the interrelatedness of national economies throughout the world.
This easy, accessible guide will help you: Find out how many different financial, business, consumer, and political factors interact to create the overall economic reality of nations Understand business cycles, economic growth, and fiscal and monetary policies Study the relationships of various economic indicators, such as inflation, unemployment, and domestic output Gain a solid understanding of macroeconomics by building on microeconomic principles and using real-world examples If you're struggling with your economics course or you need to get up to speed on the topic of macroeconomics quickly, Macroeconomics For Dummies has you covered!
Author : Michael D. 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.
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. With this book, Conrad outlines the long-term direction of our economy as driven by increasing U. He also examines why some of the government's actions—such as bailing out banks and curbing interest rates—fail to address more serious, long-term issues such as too much debt.
The crisis we have entered is not a typical business recession, but, instead, a major deleveraging which is the biggest shift since the Great Depression.
The stagflation of the U. And since no market travels in a straight line, you need to be positioned correctly, with the right investments, to protect yourself and profit from the twists and turns you'll inevitably face in today's turbulent economic environment. Profiting from the World's Economic Crisis deftly addresses how to gain your financial footing during these difficult times by highlighting global investment opportunities—such as gold, interest rates, currency, and commodities—that are likely to help you profit in the coming years.
Visit www. Author : Mr. The world is still recovering from the most recent global recession associated with the —09 financial crisis and the possibility of another downturn persists as the global economy struggles to regain lost ground.
But, what is a global recession? What is a global recovery? Copyright ISBN Get permission to reprint part of this book Purchase Book.
Table of Contents. Alan J. More about the E-ditions Program ». This book sets forth both a theory and a comparative empirical analysis of stagflation, that peculiar combination of high unemployment, slow growth, and spurts of high inflation bedeviling the advanced industrial nations during the past fifteen years. The authors first construct a small macroeconomic model that takes full account of aggregate demand and supply forces in the determination of output, employment, and the price level, in both a single-economy and a multi-economy setting.
They then apply the model to provide an understanding of comparative performance of industrial countries in the areas of unemployment, inflation, productivity, and investment growth. They argue convincingly that the decay of the major economies during this period resulted from the supply shocks of the s, such as the two major OPEC oil-price increases, and from the consequent policy-induced decrease in demand in response to inflationary pressures.
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