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Author: Peter Bernholz
Publisher: Edward Elgar Publishing
Published: 2015-04-30
Total Pages: 311
ISBN-13: 1784717630
DOWNLOAD EBOOK →Exploring the characteristics of inflations and comparing historical cases from Roman times up to the modern day, this book provides an in depth discussion of the subject. It analyses the high and moderate inflations caused by the inflationary bias of
Author: Jongrim Ha
Publisher: World Bank Publications
Published: 2019-02-24
Total Pages: 513
ISBN-13: 1464813760
DOWNLOAD EBOOK →This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
Author: Don Paarlberg
Publisher: Praeger
Published: 1993
Total Pages: 216
ISBN-13:
DOWNLOAD EBOOK →This history and analysis examines fifteen great inflations--from Ancient Rome to the French Revolution to post-World War I Germany to modern-day Brazil--to provide an understanding of the causes of inflation. A unique feature of the book is the evidence presented that a moderate degree of inflation is usually accompanied by increased economic activity. Contrary to the views of many, moderate inflation appears to be welcomed by most people and assists in returning incumbent political leaders to power. In addition, the money illusion, the belief that money has constant value over time, is shown by the author to be grievously in error. Presenting views which are at odds with much of mainstream economics, Paarlberg concludes that inflation is caused by an excess of money, and since the creation of money is a government monopoly,governments are responsible for inflation. Additionally, various macroeconomic theories are unable to account for gyrations of production and prices. The best explanation for these matters, therefore, is to be found in institutional economics, which takes into regard whatever forces exist rather than focusing on a select few while purporting to hold others constant. This thoughtful work will be of interest to scholars, students, and laypersons in economics and economic history.
Author: Michael D. Bordo
Publisher: University of Chicago Press
Published: 2013-06-28
Total Pages: 545
ISBN-13: 0226066959
DOWNLOAD EBOOK →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: Thomas J. Sargent
Publisher: Princeton University Press
Published: 1999
Total Pages: 168
ISBN-13: 9780691090122
DOWNLOAD EBOOK →In The Conquest of American Inflation, Thomas J. Sargent presents an analysis of the rise and fall of U.S. inflation after 1960. He examines two broad explanations for the behavior of inflation and unemployment in this period: the natural rate hypothesis joined to the Lucas critique and a more traditional econometric policy evaluation modified to include adaptive expectations and learning. His purpose is not only to determine which is the better account, but also to codify for the benefit of the next generation the economic forces that cause inflation. Providing an original methodological link between theoretical and policy economics, this book will engender much debate and become an indispensable text for academics, graduate students, and professional economists.
Author: Valen E. Johnson
Publisher: Springer Science & Business Media
Published: 2006-05-09
Total Pages: 270
ISBN-13: 0387215921
DOWNLOAD EBOOK →Grade inflation runs rampant at most colleges and universities, but faculty and administrators are seemingly unwilling to face the problem. This book explains why, exposing many of the misconceptions surrounding college grading. Based on historical research and the results of a yearlong, on-line course evaluation experiment conducted at Duke University during the 1998-1999 academic year, the effects of student grading on various educational processes, and their subsequent impact on student and faculty behavior, is examined. Principal conclusions of this investigation are that instructors' grading practices have a significant influence on end-of-course teaching evaluations, and that student expectations of grading practices play an important role in the courses that students decide to take. The latter effect has a serious impact on course enrollments in the natural sciences and mathematics, while the combination of both mean that faculty have an incentive to award high grades, and students have an incentive to choose courses with faculty who do. Grade inflation is the natural consequence of this incentive system. Material contained in this book is essential reading for anyone involved in efforts to reform our postsecondary educational system, or for those who simply wish to survive and prosper in it. Valen Johnson is a Professor of Biostatistics at the University of Michigan. Prior to accepting an appointment in Ann Arbor, he was a Professor of Statistics and Decision Sciences at Duke University, where data for this book was collected. He is a Fellow of the American Statistical Association.
Author: Paul Donovan
Publisher: Routledge
Published: 2015-03-27
Total Pages: 215
ISBN-13: 1317690044
DOWNLOAD EBOOK →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: Charles Goodhart
Publisher: Springer Nature
Published: 2020-08-08
Total Pages: 260
ISBN-13: 3030426572
DOWNLOAD EBOOK →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.
Author: Henry Hazlitt
Publisher: Ludwig von Mises Institute
Published: 1960
Total Pages: 162
ISBN-13: 1610162811
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