The Great Inflation

The Great Inflation PDF

Author: Michael D. Bordo

Publisher: University of Chicago Press

Published: 2013-06-28

Total Pages: 545

ISBN-13: 0226066959

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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.

American Economic Policy in the 1980s

American Economic Policy in the 1980s PDF

Author: Martin Feldstein

Publisher: University of Chicago Press

Published: 2007-12-01

Total Pages: 836

ISBN-13: 0226241734

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Destined to become the standard guide to the economic policy of the United States during the Reagan era, this book provides an authoritative record of the economic reforms of the 1980s. In his introduction, Martin Feldstein provides compelling analysis of policies with which he was closely involved as chairman of the Council of Economic Advisers during the Reagan administration: monetary and exchange rate policy, tax policy, and budget issues. Other leading economists and policymakers examine a variety of domestic and international issues, including monetary and exchange rate policy, regulation and antitrust, as well as trade, tax, and budget policies. The contributors to this volume are Alberto Alesina, Phillip Areeda, Elizabeth Bailey, William F. Baxter, C. Fred Bergsten, James Burnley, Geoffrey Carliner, Christopher DeMuth, Douglas W. Elmendorf, Thomas O. Enders, Martin Feldstein, Jeffrey A. Frankel, Don Fullerton, William M. Isaac, Paul L Joskow, Paul Krugman, Robert E. Litan, Russell B. Long, Michael Mussa, William A. Niskanen, Roger G. Noll, Lionel H. Olmer, Rudolph Penner, William Poole, James M. Poterba, Harry M. Reasoner, William R. Rhodes, J. David Richardson, Charles Schultze, Paula Stern, David Stockman, William Taylor, James Tobin, W. Kip Viscusi, Paul A. Volcker, Charles E. Walker, David A. Wise, and Richard G. Woodbury.

Politics and Economics in the Eighties

Politics and Economics in the Eighties PDF

Author: Alberto Alesina

Publisher: University of Chicago Press

Published: 2008-04-15

Total Pages: 310

ISBN-13: 0226012824

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Is the federal budget deficit a result of congressional deadlocks, gross miscalculation of economic trends, or a Republican strategy to tie the budgetary hands of future Democratic leadership? To what extend does the partisan split between Congress and the executive branch constrain the president's agenda? In this volume, political scientists and economists tackle these and many other contentious issues, offering a variety of analytical perspectives. Certain to provoke controversy, this interdisciplinary volume brings together policy experts to provide a coherent analysis of the most important economic policy changes of the 1980s. Through a detailed examination of voting patterns, monetary and fiscal policies, welfare spending, tax reform, minimum wage legislation, the savings and loan collapse, and international trade policy, the authors explore how politics can influence the direction of economic policymaking.

The Monetary Policy of the Federal Reserve

The Monetary Policy of the Federal Reserve PDF

Author: Robert L. Hetzel

Publisher: Cambridge University Press

Published: 2008-03-17

Total Pages: 7

ISBN-13: 1139470647

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Details the evolution of the monetary standard from the start of the Federal Reserve through the end of the Greenspan era. The book places that evolution in the context of the intellectual and political environment of the time. By understanding the fitful process of replacing a gold standard with a paper money standard, the conduct of monetary policy becomes a series of experiments useful for understanding the fundamental issues concerning money and prices. How did the recurrent monetary instability of the 20th century relate to the economic instability and to the associated political and social turbulence? After the detour in policy represented by FOMC chairmen Arthur Burns and G. William Miller, Paul Volcker and Alan Greenspan established the monetary standard originally foreshadowed by William McChesney Martin, who became chairman in 1951. The Monetary Policy of the Federal Reserve explains in a straightforward way the emergence and nature of the modern, inflation-targeting central bank.

Employment and Growth: Issues for the 1980s

Employment and Growth: Issues for the 1980s PDF

Author: A. Steinherr

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 316

ISBN-13: 9400936052

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The papers published in this book were presented and dis cussed on occasion of the celebration of Albert Kervyn de Lettenhove's retirement on 29-30 May 1986. This conference was made feasible through the participation of a large au dience and the generous financial support of the Commission of the European Communities. The sessions were organised under three topics, as are the papers in this book. The first session, chaired by Massimo Russo, Director-General, Commission ofthe European Com munities was devoted to an evaluation of past and current debates of central macro-economic problems, those of growth and business cycle stabilization. The second session, chaired by Jean Godeaux, Governor of Belgium's National Bank, looked at innovations in the conduct of monetary pol icy and the opportunities offered and problems associated with innovations in fiancial markets. The last session, chaired by Baron Michel Woitrin, formerly Professor of Eco nomics and Head Administrator of the Universite Catholi que de Louvain, contains several empirical analyses and pol icy proposals. I 30 years ago growth theory was a very promising research field, at the center of macroeconomics and macroeconomics was at the center of economics. Robert Solow -one of the major contributors to growth theory -reexamines the perti nence of that body of theory to problems of our times. A. Steinherr and D. Weiserbs (eds), Employment and Growth: Issues for the 1980s. ISBN 90·247·3514·9.

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