The 1920 S Hyperinflation In The Light Of The Rational Expectations Hypothesis

Author : Arturo Minet
Publisher : GRIN Verlag
Page : 17 pages
File Size : 54,8 Mb
Release : 2007-07-10
Category : Business & Economics
ISBN : 9783638816809

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The 1920 ́s hyperinflation in the light of the Rational Expectations Hypothesis by Arturo Minet Pdf

Essay from the year 2006 in the subject Economics - History, grade: 1,0, University of Warwick, course: International Economic Systems since 1918, language: English, abstract: After the First World War, Europe had lost its unrivalled economic hegemony over the rest of the world. The very fundament of the world economy, which supposedly had given stability over all the years, namely the gold standard, had practically disappeared. Except for the US Dollar, major currencies were no more backed by gold. During the years of 1914 - 1918, the European great powers had to give up the gold standard to be able to finance the cost of war. This was done mostly by printing large sums of money and by uncontrolled borrowing. The reluctance of the governments to levy higher taxes made short- and long-term debt enormous. After the Great War public expenditure rose even more in most countries due to the reparation and reconstruction costs. The unavoidable consequence (in absence of a restrictive monetary policy) was inflation. This essay is going to describe what happened to those states which experienced hyperinflation and how the abrupt end of it can be explained in terms of the Rational Expectations Hypothesis.

Author : Sean Glynn,Alan Booth
Publisher : Routledge
Page : 222 pages
File Size : 47,8 Mb
Release : 2018-12-07
Category : Business & Economics
ISBN : 9780429681172

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The Road to Full Employment by Sean Glynn,Alan Booth Pdf

First published in 1987. This volume explores the inter-war unemployment problem and the development of economic and social policy in relation to that problem. Contemporary policies and levels of unemployment can only be compared with the inter-war period and in recent years economists and other commentators have increasingly turned their attention to the 1930s. This book is written by a group of expert historians and policy analysts who have been in the forefront of recent research. In particular, new insights into economic policy which have come from the release of cabinet and departmental papers at The Public Record Office are revealed. Recent economic theory is also taken into account and the findings question established views on many grounds. New economic lessons from the 1930s are suggested and some astonishing similarities to the 1980s and demonstrated. This work will be essential reading for students of modern British history and economic and social history as well as economic policy and government and politics.

Author : Robert E. Hall
Publisher : University of Chicago Press
Page : 302 pages
File Size : 46,9 Mb
Release : 2009-05-15
Category : Business & Economics
ISBN : 9780226313252

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Inflation by Robert E. Hall Pdf

This volume presents the latest thoughts of a brilliant group of young economists on one of the most persistent economic problems facing the United States and the world, inflation. Rather than attempting an encyclopedic effort or offering specific policy recommendations, the contributors have emphasized the diagnosis of problems and the description of events that economists most thoroughly understand. Reflecting a dozen diverse views—many of which challenge established orthodoxy—they illuminate the economic and political processes involved in this important issue.

Author : Tara McIndoe-Calder,Tara Bedi,Rogelio Mercado
Publisher : Springer Nature
Page : 122 pages
File Size : 51,6 Mb
Release : 2019-11-16
Category : Business & Economics
ISBN : 9783030310158

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Hyperinflation in Zimbabwe by Tara McIndoe-Calder,Tara Bedi,Rogelio Mercado Pdf

This book investigates the hyperinflation in Zimbabwe in the 2000s. The authors present a full description of the Zimbabwean hyperinflation in its relevant economic, historical and political context. They address parallels with other hyperinflations, discuss the economics of hyperinflation in general and of the Zimbabwean hyperinflation in particular, and provide a money demand estimation using a new dataset. The study concludes with several policy lessons. This book will be of interest to researchers in both social sciences and the humanities, as well as practitioners and policy-makers in development economics, and those in the banking industry.

Author : Missouri Valley Economic Association
Publisher : Unknown
Page : 518 pages
File Size : 45,8 Mb
Release : 1983
Category : Economics
ISBN : STANFORD:36105007762649

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Journal of Economics by Missouri Valley Economic Association Pdf

Author : Robert E. Lucas,Thomas J. Sargent
Publisher : U of Minnesota Press
Page : 335 pages
File Size : 40,9 Mb
Release : 1988
Category : Electronic
ISBN : 9781452908281

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Rational Expectations and Econometric Practice by Robert E. Lucas,Thomas J. Sargent Pdf

Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, governme.

Author : Ashok Lahiri
Publisher : International Monetary Fund
Page : 46 pages
File Size : 42,7 Mb
Release : 1991-05-01
Category : Business & Economics
ISBN : 9781451971064

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Yugoslav Inflation and Money by Ashok Lahiri Pdf

Yugoslav inflation unfolded as a classic wage-price-exchange rate spiral through the 1970s and 1980s and exploded into hyperinflation in the last quarter of 1989. This paper examines the process of monetary accommodation of inflation, the behavior of demand for money, and the interaction between the two in Yugoslavia. The asset-liability structure of the Central Bank, together with the policy stance on exchange and interest rates, led to a significant feedback from inflation to money supply. Real money balances are found to have been cointegrated with other economic variables despite their explosive and seasonal nature, and hence in long-run equilibrium relationship as economic theory would suggest.

Author : Geoffrey Wood
Publisher : Edward Elgar Publishing
Page : 136 pages
File Size : 47,5 Mb
Release : 2024-07-03
Category : Business & Economics
ISBN : 1781959242

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Money, Prices and the Real Economy by Geoffrey Wood Pdf

This book sets out, in straightforward, accessible terms, crucial aspects of monetary economics. It opens with an exposition of the fundamental question of what money is and what it does. Distinguished contributors then examine the key role of price stability and how to achieve it. Core issues addressed include: an examination of the long run effect of money on prices an analysis of the complex and variable relationship between money and fluctuations in the real economy an investigation of inflation and its dangerous consequences an analysis of the effect of regulation on the stability of financial systems in developed and developing countries the relationship between the money supply regime and economic performance the effect of monetary fluctuations on the interest rate the choice of targets for monetary policy. This book will be extremely useful to practising economists, students and scholars of financial and monetary economics.

Author : David Laidler,George W. Stadler,University of Western Ontario. Department of Economics
Publisher : London, Ont. : Department of Economics, University of Western Ontario
Page : 54 pages
File Size : 53,8 Mb
Release : 1995
Category : Germany
ISBN : UCSD:31822021207618

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Monetary Explanations of the Weimar Republic's Hyperinflation by David Laidler,George W. Stadler,University of Western Ontario. Department of Economics Pdf

Author : Henry Hazlitt
Publisher : Ludwig von Mises Institute
Page : 198 pages
File Size : 55,8 Mb
Release : 1978
Category : Deflation (Finance)
ISBN : 9781610164269

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The inflation crisis, and how to resolve it by Henry Hazlitt Pdf

Author : John Maynard Keynes
Publisher : Springer
Page : 404 pages
File Size : 54,9 Mb
Release : 2018-07-20
Category : Business & Economics
ISBN : 9783319703442

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The General Theory of Employment, Interest, and Money by John Maynard Keynes Pdf

This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.

Author : Randall E. Parker,Robert Whaples
Publisher : Routledge
Page : 473 pages
File Size : 45,8 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780415677035

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Routledge Handbook of Major Events in Economic History by Randall E. Parker,Robert Whaples Pdf

This book aims to introduce readers to the important macroeconomic events of the past two hundred years. It explains what went on and why during the most significant economic epochs of the nineteenth, twentieth and early twenty-first centuries and how where we are today fits in this historical timeline.

Author : Mr.Stijn Claessens,Mr.Ayhan Kose
Publisher : International Monetary Fund
Page : 66 pages
File Size : 40,7 Mb
Release : 2013-01-30
Category : Business & Economics
ISBN : 9781475561005

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Financial Crises Explanations, Types, and Implications by Mr.Stijn Claessens,Mr.Ayhan Kose Pdf

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Author : Otmar Issing,Ignazio Angeloni
Publisher : Unknown
Page : 344 pages
File Size : 40,8 Mb
Release : 2003
Category : Business & Economics
ISBN : STANFORD:36105112536441

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Background Studies for the ECB's Evaluation of Its Monetary Policy Strategy by Otmar Issing,Ignazio Angeloni Pdf

Author : Stefano Battilossi,Youssef Cassis,Kazuhiko Yago
Publisher : Springer
Page : 0 pages
File Size : 49,7 Mb
Release : 2020-03-13
Category : Business & Economics
ISBN : 9811305951

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Handbook of the History of Money and Currency by Stefano Battilossi,Youssef Cassis,Kazuhiko Yago Pdf

This handbook provides a comprehensive overview of state-of-the-art research in the field of monetary and financial history. The authors comprise different generations of leading scholars from universities worldwide. Thanks to its unrivaled breadth both in time (from antiquity to the present) and geographical coverage (from Europe to the Americas and Asia), the volume is set to become a key reference for historians, economists, and social scientists with an interest in the subject. The handbook reflects the existing variety of scholarly approaches in the field, from theoretically driven macroeconomic history to the political economy of monetary institutions and the historical evolution of monetary policies. Its thematic sections cover a wide range of topics, including the historical origins of money; money, coinage, and the state; trade, money markets, and international currencies; money and metals; monetary experiments; Asian monetary systems; exchange rate regimes; monetary integration; central banking and monetary policy; and aggregate price shocks.