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Author: Michael Parkin
Publisher: Manchester University Press
ISBN: 9780719006951
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
Monograph investigating inflation in the UK from 1945 to 1976 - surveys empirical studies on consumer price and wage determination, focuses on relations between inflation and unemployment (Phillips curve) and the effects of incomes policies, and discusses the measurement and use of mathematical models for price and cost expectations both of consumers and producers. Bibliography pp. 166 to 177, graphs and statistical tables.
Author: Michael Parkin
Publisher: Manchester University Press
ISBN: 9780719006951
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
Monograph investigating inflation in the UK from 1945 to 1976 - surveys empirical studies on consumer price and wage determination, focuses on relations between inflation and unemployment (Phillips curve) and the effects of incomes policies, and discusses the measurement and use of mathematical models for price and cost expectations both of consumers and producers. Bibliography pp. 166 to 177, graphs and statistical tables.
Author: Mr.Mario I. Bléjer
Publisher: International Monetary Fund
ISBN: 9781557758897
Category : Business & Economics
Languages : en
Pages : 108
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Book Description
A growing number of countries are anchoring their monetary policy through explicit inflation targeting. This policy has already scored remarkable successes in several countries, establishing central bank credibility, and reining in inflation where it had long been stubbornly high. But implementing inflation targets raises many difficult questions. What prerequisites must an economy and its institutions meet for the strategy to work? What choices should central banks make from the menu of possible variations on the basic approach? This book summarizes the discussions in a seminar at which economists and policymakers from ten countries reviewed their experiences with inflation targeting.
Author: Robert O'Neill
Publisher: Springer
ISBN: 3319641255
Category : Business & Economics
Languages : en
Pages : 390
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Book Description
This book is an introduction to the history of – and current measurement practice of – inflation for the United Kingdom. The authors describe the historical development of inflation measures in a global context, and do so without using formal mathematical language and related jargon that relates only to a few specialist scholars. Although inflation is a widely used and quoted statistic, and despite the important role inflation plays in real people’s lives – through pension uprating, train tickets, interest rates and the work of economists – few people understand how it is created. O’Neill, Ralph and Smith mix historical data with a description of practices inside the UK statistical system and abroad, which will aid understanding of how this important economic statistic is produced, and the important and controversial choices that statisticians have made over time.
Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 0226066959
Category : Business & Economics
Languages : en
Pages : 545
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Book Description
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: Paul Donovan
Publisher: Routledge
ISBN: 1317690044
Category : Business & Economics
Languages : en
Pages : 215
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Book Description
Inflation is a simple topic, in that the basic concepts are something that everyone can understand. However, inflation is not a simplistic topic. The composition of inflation and what the different inflation measures try to represent cannot be summarised with a single line on a chart or a casual reference to a solitary data point. Investors very often fail to understand the detail behind inflation, and end up making bad investment decisions as a result. The Truth About Inflation does not set out to forecast inflation, but to help improve its understanding, so that investors can make better decisions to achieve the real returns that they need. Starting with a summary of long history of inflation, the drivers of price change are considered. Many of the "urban myths" that have built up about inflation are shown to be a consequence of irrational judgement or political scaremongering. Some behaviour, like the unhealthy veneration of gold as a means of inflation protection, is shown to be the result of historical accident. In the modern era of lower nominal investment returns, inflation inequality (whereby some groups experience persistently higher inflation than others) is a very important consideration. This book sets out the realities of price changes in the modern investing environment, without using economic equations or jargon. It gives investors the framework they need to think about inflation and how to protect themselves against it, whether the aggregate inflation of the future rises or falls from current levels.
Author: Benjamin Viertel
Publisher: diplom.de
ISBN: 3836625962
Category : Business & Economics
Languages : en
Pages : 86
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Book Description
Inhaltsangabe:Introduction: (A)n internal standard, so regulated as to maintain stability in an index number of prices, is a difficult scientific innovation, never yet put into practice . Especially since the operational introduction as central bank monetary policy framework in the early 1990s in New Zealand, the United Kingdom (UK), Canada and Sweden, inflation targeting has gained both empirical and theoretical relevance as a monetary policy strategy. In this paper I relate to inflation targeting theory and its framework in the UK. For that purpose I first regard the development of inflation targeting in respect to other monetary policy strategies in sections (2.2) and (2.3). I will answer the question what the actual target variable is and why one would want to have inflation being low and stable. Then there is some complexity because the development of inflation targeting has to be viewed in relation to paradigmatic debates between Monetarist and New-Keynesian insights. In the sections (2.4) and (2.4) I present the two fundamental views of how an inflation targeting framework should be modelled. By stating some equations from basic theoretical literature, I try to give a overview about the dfferent characteristics of that monetary policy strategy and how there is still controversy about the way of modelling. Chapter (3) is concerned with the operational framework in the UK, including statements to historical developments at the Bank of England in section (3.1). In particular, gaining of operational independence in setting interest rates section (3.1.5) was an important step for the Bank. The present monetary policy framework will be reviewed in section (3.2), in detail relating to the Bank s publication policy section (3.2.2) and the inflation forecasting process section (3.2.3). The Bank of England s model of the transmission mechanism is reviewed in section (3.3). This includes the interest rate setting process, the role of money and the relationship between inflation and inflation expectations. Finally, I discuss some economic effects that changed the British economy since the introduction of inflation targeting section (3.4). Inhaltsverzeichnis:Table of Contents: 1.Abstract2 2.Monetary Policy2 2.1Introduction2 2.2Monetary Policy2 2.2.1Monetary Policy Strategies in Theory2 2.2.2Monetary Stability as an Aim of Monetary Policy4 2.2.3Empirical Monetary Strategies 5 2.2.4Monetary Transmission Mechanisms6 2.3Inflation [...]
Author: Ben Jackson
Publisher: Cambridge University Press
ISBN: 1107012384
Category : Biography & Autobiography
Languages : en
Pages : 369
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Book Description
This book situates the controversial Thatcher era in the political, social, cultural and economic history of modern Britain.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264816917
Category :
Languages : en
Pages : 221
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Book Description
The OECD Economic Outlook, Volume 2021 Issue 1, highlights the improved prospects for the global economy due to vaccinations and stronger policy support, but also points to uneven progress across countries and key risks and challenges in maintaining and strengthening the recovery.
Author: Pete Comley
Publisher: Pete Comley
ISBN: 0957303815
Category : Business & Economics
Languages : en
Pages : 222
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Book Description
Inflation Tax is the first book to present in simple easy to read way why inflation is such a big problem in the UK (even at low levels). It is reducing the standard of living of most people and redistributing wealth from savers to debtors. The book shows that inflation is not a mere by-product of random economic forces. Instead it is a stealth tax primarily paid by savers and pensioners. Furthermore, it has been used by successive governments since 1945 as a tool to manage the UK's debts. The book examines likely future inflation scenarios in the UK and the best ways to save and invest in those environments. Contents: SECTION I - INFLATION 1. Inflation - why you should be worried 2. What is inflation? 3. Theories of inflation 4. Measuring inflation: RPI/CPI SECTION II - DEBT 5. Government debt and the UK's Financial Dunkirk 6. Labour's post war solution to the debt 7. US inflation reduces UK debts 8. Debt: 1970s onwards SECTION III - INFLATION TAX 9. The benefits of inflation tax 10. Who pays inflation tax? 11. Disguising inflation tax 12. Problems with inflation tax SECTION IV - THE IMPLICATIONS 13. How to pay less inflation tax 14. Future debt and inflation scenarios 15. Concluding thoughts
Author: Peter J. N. Sinclair
Publisher: Routledge
ISBN: 1135179778
Category : Business & Economics
Languages : en
Pages : 402
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Book Description
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.
