Understanding Inflation & Unemployment
Author : Allen William Smith
Publisher :
Page : 184 pages
File Size : 21,1 MB
Release : 1976
Category : Business & Economics
ISBN :
Author : Allen William Smith
Publisher :
Page : 184 pages
File Size : 21,1 MB
Release : 1976
Category : Business & Economics
ISBN :
Author : Jeff Fuhrer
Publisher : MIT Press
Page : 517 pages
File Size : 21,33 MB
Release : 2009-09-11
Category : Business & Economics
ISBN : 026225820X
Current perspectives on the Phillips curve, a core macroeconomic concept that treats the relationship between inflation and unemployment. In 1958, economist A. W. Phillips published an article describing what he observed to be the inverse relationship between inflation and unemployment; subsequently, the “Phillips curve” became a central concept in macroeconomic analysis and policymaking. But today's Phillips curve is not the same as the original one from fifty years ago; the economy, our understanding of price setting behavior, the determinants of inflation, and the role of monetary policy have evolved significantly since then. In this book, some of the top economists working today reexamine the theoretical and empirical validity of the Phillips curve in its more recent specifications. The contributors consider such questions as what economists have learned about price and wage setting and inflation expectations that would improve the way we use and formulate the Phillips curve, what the Phillips curve approach can teach us about inflation dynamics, and how these lessons can be applied to improving the conduct of monetary policy. Contributors Lawrence Ball, Ben Bernanke, Oliver Blanchard, V. V. Chari, William T. Dickens, Stanley Fischer, Jeff Fuhrer, Jordi Gali, Michael T. Kiley, Robert G. King, Donald L. Kohn, Yolanda K. Kodrzycki, Jane Sneddon Little, Bartisz Mackowiak, N. Gregory Mankiw, Virgiliu Midrigan, Giovanni P. Olivei, Athanasios Orphanides, Adrian R. Pagan, Christopher A. Pissarides, Lucrezia Reichlin, Paul A. Samuelson, Christopher A. Sims, Frank R. Smets, Robert M. Solow, Jürgen Stark, James H. Stock, Lars E. O. Svensson, John B. Taylor, Mark W. Watson
Author : Robert M. Solow
Publisher : MIT Press
Page : 140 pages
File Size : 38,62 MB
Release : 1998
Category : Business & Economics
ISBN : 9780262692229
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 : John Case
Publisher : New York : Morrow
Page : 236 pages
File Size : 31,40 MB
Release : 1981
Category : Inflation (Finance)
ISBN :
In layman's terms, case explains how inflation develops, analyzes its effect on national economic policies, and offers some ideas on what can be done to slow down or halt the rate of inflation.
Author : Mr.Vincent Hogan
Publisher : International Monetary Fund
Page : 18 pages
File Size : 21,37 MB
Release : 1998-09-01
Category : Business & Economics
ISBN : 1451856512
Low rates of inflation have been recorded in recent years, despite a decline in the unemployment rate. This phenomenon could be the result of a series of transitory shocks or of a permanent change in the structure of the economy leading to a lower NAIRU. The paper suggests that, while the NAIRU may have fallen slightly, it has not fallen by an amount sufficient to explain the recent behavior of inflation. A leading explanation for recent inflation performance appears to be favorable price shocks; in particular, the cost of imports has fallen sharply as the dollar has appreciated.
Author : Laura Loria
Publisher : The Rosen Publishing Group, Inc
Page : 50 pages
File Size : 50,71 MB
Release : 2018-07-15
Category : Juvenile Nonfiction
ISBN : 1538302640
The Economy can be an intimidating subject for some readers. They might feel that it's too complicated to understand, or that it's just for adults. This illuminating volume explains facets of the economy and how they are measured in plain language. It offers age-appropriate, real-life illustrations of the concepts to help middle-school readers relate on a personal level. Historical and current examples are cited throughout the text, which support curricular standards outlined in the C3 Framework for Social Studies State Standards.
Author : Victor E. Argy
Publisher : Routledge
Page : 398 pages
File Size : 18,67 MB
Release : 2016-04-20
Category : Business & Economics
ISBN : 1317216792
Originally published in 1985 and contributed to by internationally renowned economists, this volume discusses theoretical issues and country-specific experiences to review the underlying causes of the stagflation of the 1970s and early 1980s, as well as summarizing the kinds of macro-policies that were adopted to deal with the stagflation.
Author : Edmund S. Phelps
Publisher : London : Macmillan
Page : 360 pages
File Size : 18,2 MB
Release : 1972
Category : Business & Economics
ISBN :
Monograph on economic theory and economic policies relevant to unemployment and inflation, proposing a cost benefit analysis approach to optimal monetary policy for the USA - includes economic models. References and statistical tables.
Author : Michael D. Bordo
Publisher : University of Chicago Press
Page : 545 pages
File Size : 20,92 MB
Release : 2013-06-28
Category : 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 : Samuel A. Morley
Publisher :
Page : 214 pages
File Size : 33,3 MB
Release : 1979
Category : Business & Economics
ISBN : 9780030410161