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The Great Demographic Reversal by Charles Goodhart,Manoj Pradhan Pdf
This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going.
Demonstrating how the contending schools of economic thought share the same underlying defects, a highly critical examination of the current economic process advocates a radical new approach that draws on biology, physics, and behavioral science.
Author : Ben S. Bernanke,Michael Woodford Publisher : University of Chicago Press Page : 469 pages File Size : 54,6 Mb Release : 2007-11-01 Category : Business & Economics ISBN : 9780226044736
The Inflation-Targeting Debate by Ben S. Bernanke,Michael Woodford Pdf
Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting—its potential, its successes, and its limitations—from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary.
Money, Interest Rates, and Inflation by Frederic S. Mishkin Pdf
Frederick Mishkin's work has been dedicated to understanding the relationship between money, interest rates and inflation. The 15 essays in this collection - unabashedly empirical and rigorous - include much of Professor Mishkin's most highly regarded work. Money, Interst Rates and Inflation offers a coherent and informative assessment of how monetary policy affects the economy. In addition, the essays in this collection illustrate how rational expectations econometrics can be used to answer basic questions in the monetary-macroeconomics and finance areas.
Author : Michael D. Bordo,Athanasios Orphanides Publisher : University of Chicago Press Page : 545 pages File Size : 47,6 Mb Release : 2013-06-28 Category : Business & Economics ISBN : 9780226066950
The Great Inflation by Michael D. Bordo,Athanasios Orphanides Pdf
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.
The next financial collapse will resemble nothing in history. . . . Deciding upon the best course to follow will require comprehending a minefield of risks, while poised at a crossroads, pondering the death of the dollar. The U.S. dollar has been the global reserve currency since the end of World War II. If the dollar fails, the entire international monetary system will fail with it. But optimists have always said, in essence, that confidence in the dollar will never truly be shaken, no matter how high our national debt or how dysfunctional our government. In the last few years, however, the risks have become too big to ignore. While Washington is gridlocked, our biggest rivals—China, Russia, and the oil-producing nations of the Middle East—are doing everything possible to end U.S. monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos. James Rickards, the acclaimed author of Currency Wars, shows why money itself is now at risk and what we can all do to protect ourselves. He explains the power of converting unreliable investments into real wealth: gold, land, fine art, and other long-term stores of value.
In this book, I discuss the long-standing technical and conceptual problems arising within the statistical framework describing models of cosmological inflation, known collectively as the "measure problem" in multiverse cosmology. After reviewing various existing approaches and mathematical techniques developed in the past two decades for studying these issues, I describe a new proposal for a measure in the multiverse, called the reheating-volume (RV) measure. The RV measure is based on approximating an infinite multiverse by a family of progressively larger but finite multiverses. I give a detailed description of the new measure and its applications to generic models of eternal inflation of random-walk type and to landscape scenarios. The RV prescription is formulated differently for scenarios with eternal inflation of the random walk type and for landscape scenarios. I derive analytic formulas for RV-regulated probability distributions that is suitable for numerical computations.
The Economics of Inflation by Constantino Bresciani-Turroni Pdf
The Economics of Inflation provides a comprehensive analysis of economic conditions in Germany under the Great Inflation and discusses inflationary conditions in general. The analysis is supported by extensive statistical material. * For this translation the author thoroughly revised the original work * Includes an appendix on German economic conditions in the years following the monetary reform, 1923-24
Monetary Policy Mistakes and the Evolution of Inflation Expectations by Athanasios Orphanides,John Carroll Williams Pdf
What monetary policy framework, if adopted by the Federal Reserve, would have avoided the Great Inflation of the 1960s and 1970s? The authors use counterfactual simulations of an estimated model of the U.S. economy to evaluate alternative monetary policy strategies. The authors document that policymakers at the time both had an overly optimistic view of the natural rate of unemployment and put a high priority on achieving full employment. They show that in the presence of realistic informational imperfections and with an emphasis on stabilizing economic activity, an optimal control approach would have failed to keep inflation expectations well anchored, resulting in highly volatile inflation during the 1970s. Charts and tables.
The follow up to the hugely successful 'Celebrity', this is an analysis of what celebrity culture is today. In 2001, the phenomenon of Jade Goody and reality TV shows was in its infancy. Now, Rojek explores celebrity engineering, technologies of fame creation and issues of loneliness and uncertainty. It is set to become the benchmark in the field.
Debating Rights Inflation in Canada by Dominique Clément Pdf
Human rights has become the dominant vernacular for framing social problems around the world. In this book, Dominique Clément presents a paradox in politics, law, and social practice: he argues that whereas framing grievances as human rights violations has become an effective strategy, the increasing appropriation of rights-talk to frame any and all grievances undermines attempts to address systemic social problems. His argument is followed by commentator response from several leading human rights scholars and practitioners in Canada and abroad who bridge the divide between academia, public policy, and practice.