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Author: Robert M. Solow
Publisher: MIT Press
ISBN: 9780262692229
Category : Business & Economics
Languages : en
Pages : 140
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Book Description
Edited and with an introduction by Benjamin M. Friedman The connection between price inflation and real economic activity has been a focus of macroeconomic research--and debate--for much of the past century. Although this connection is crucial to our understanding of what monetary policy can and cannot accomplish, opinions about its basic properties have swung widely over the years. Today, virtually everyone studying monetary policy acknowledges that, contrary to what many modern macroeconomic models suggest, central bank actions often affect both inflation and measures of real economic activity, such as output, unemployment, and incomes. But the nature and magnitude of these effects are not yet understood. In this volume, Robert M. Solow and John B. Taylor present their views on the dilemmas facing U.S. monetary policymakers. The discussants are Benjamin M. Friedman, James K. Galbraith, N. Gregory Mankiw, and William Poole. The aim of this lively exchange of views is to make both an intellectual contribution to macroeconmics and a practical contribution to the solution of a public policy question of central importance.
Author: Robert M. Solow
Publisher: MIT Press
ISBN: 9780262692229
Category : Business & Economics
Languages : en
Pages : 140
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Book Description
Edited and with an introduction by Benjamin M. Friedman The connection between price inflation and real economic activity has been a focus of macroeconomic research--and debate--for much of the past century. Although this connection is crucial to our understanding of what monetary policy can and cannot accomplish, opinions about its basic properties have swung widely over the years. Today, virtually everyone studying monetary policy acknowledges that, contrary to what many modern macroeconomic models suggest, central bank actions often affect both inflation and measures of real economic activity, such as output, unemployment, and incomes. But the nature and magnitude of these effects are not yet understood. In this volume, Robert M. Solow and John B. Taylor present their views on the dilemmas facing U.S. monetary policymakers. The discussants are Benjamin M. Friedman, James K. Galbraith, N. Gregory Mankiw, and William Poole. The aim of this lively exchange of views is to make both an intellectual contribution to macroeconmics and a practical contribution to the solution of a public policy question of central importance.
Author: Alvin Harvey Hansen
Publisher: Pickle Partners Publishing
ISBN: 1789127416
Category : Business & Economics
Languages : en
Pages : 370
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Book Description
IN TRADITIONAL economics the theory of money and the theory of output have been treated separately with little or no tendency toward integration. First Wicksell and then Keynes gave impetus to the movement to combine the theory of money with that of output as a whole. Drawing on classical economics and the modern aggregate analysis of Keynes, Professor Hansen in this volume succeeds in writing a book which, unlike the classical studies, shows the importance of money in the theory of output as a whole; and which, unlike numerous modern writings (e.g., of Hawtrey, Douglas, Hayek), avoids overemphasizing the importance of money. Here is a book that shows what monetary policy can and cannot achieve and why it has often failed in the past; the necessary supplementary role of monetary policy as an aid to fiscal policy; and the manner of integrating monetary and fiscal policy, in periods of both depression and inflation, as prerequisites for assuring a stable economy. Professor Hansen has drawn on his rich experience over thirty-five years in the study of cycles, fiscal policy, and international economics, and on his many years as an economic practitioner to write a book that makes use of the riches of classical economics, as well as neoclassical and Keynesian economics. The book should, for many years to come, be the standard work on monetary theory and fiscal policy as determinants of output. The reader will find here not only the modern theory of money and fiscal policy, but also rich surveys covering the last 150 years, reinterpreted with the tools of modern economics. He will find also suggestions, based on theory and history, for a policy in the years to come that will yield the high levels of income and stability without which the survival of democratic institutions is most unlikely.
Author: Robert J. Bigg
Publisher: Springer Nature
ISBN: 3031422163
Category : Business & Economics
Languages : en
Pages : 485
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Book Description
This book examines the academic life of Alvin Hansen and his contribution to modern economics. Through tracing the development of his early work and pre-Keynesian ideas, the influence of Keynes and the 1937-8 recession on the direction of his work is explored, particularly in relation to his theoretical backing of the New Deal and subsequent American policy. The subsequent chapters focus on his later work on secular stagnation, savings and investment, American Keynesianism, managing the post-war mixed economy and the often overlooked contributions to global questions and wider aspects of political economy and public policy. This book aims to highlight the intellectual influence and academic value of Alvin Hansen’s work. It will be relevant to students and researchers interested in economic policy, political economy, and the history of economic thought.
Author: Alvin H. Hansen
Publisher:
ISBN:
Category :
Languages : en
Pages : 349
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Book Description
Author: Alvin Harvey Hansen
Publisher: W W Norton & Company Incorporated
ISBN: 9780393334012
Category : Business & Economics
Languages : en
Pages : 721
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Book Description
In this new edition Professor Hansen augments his authoritative study of the business cycle with an analysis of the performance--and the problems--of the postwar American economy.
Author: John Maynard Keynes
Publisher: Atlantic Publishers & Dist
ISBN: 9788126905911
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
Author: Alvin H. Hansen
Publisher:
ISBN: 9780415607100
Category : Business cycles
Languages : en
Pages : 0
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Book Description
Written during the Second World War, this book deals with the changing role of the government, and particularly fiscal policy as an instrument for regulating the national income and its distribution.
Author: Randall S. Kroszner
Publisher: MIT Press
ISBN: 0262518732
Category : Business & Economics
Languages : en
Pages : 171
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Book Description
Two top economists outline distinctive approaches to post-crisis financial reform. Over the last few years, the financial sector has experienced its worst crisis since the 1930s. The collapse of major firms, the decline in asset values, the interruption of credit flows, the loss of confidence in firms and credit market instruments, the intervention by governments and central banks: all were extraordinary in scale and scope. In this book, leading economists Randall Kroszner and Robert Shiller discuss what the United States should do to prevent another such financial meltdown. Their discussion goes beyond the nuts and bolts of legislative and regulatory fixes to consider fundamental changes in our financial arrangements. Kroszner and Shiller offer two distinctive approaches to financial reform, with Kroszner providing a systematic analysis of regulatory gaps and Shiller addressing the broader concerns of democratizing and humanizing finance. After brief discussions by four commentators (Benjamin M. Friedman, George G. Kaufman, Robert C. Pozen, and Hal S. Scott), Kroszner and Shiller each offer a response to the other's proposals, creating a fruitful dialogue between two major figures in the field.
Author: David Laidler
Publisher: Cambridge University Press
ISBN: 9780521645966
Category : Business & Economics
Languages : en
Pages : 404
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Book Description
Examining the emergence, in the inter-war years, of what came to be called 'Keynesian macroeconomics'.
Author: Theodore Rosenof
Publisher: Univ of North Carolina Press
ISBN: 0807864234
Category : History
Languages : en
Pages : 182
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Book Description
Though understandably preoccupied with the immediate problems of the Great Depression, the generation of economists that came to the forefront in the 1930s also looked ahead to the long-term consequences of the crisis and proposed various solutions to prevent its recurrence. Theodore Rosenof examines the long-run theories and legacies of four of the leading members of this generation: John Maynard Keynes of Great Britain, who influenced the New Deal from afar; Alvin Hansen and Gardiner Means, who fought over the direction of New Deal policy; and Joseph Schumpeter, an opponent of the New Deal. Rosenof explores the conflicts that arose among long-run theorists, arguing that such disputes served eventually to set the stage for the emergence and domination of a short-run Keynesian approach to economic policy that collapsed under the impact of 1970s stagflation. Tracing the subsequent revival of long-run theories, Rosenof demonstrates their relevance to an understanding of the economy's problems over the past quarter-century and to the current debate over public policy. Originally published in 1997. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.
