Download or read book Monetary Policy and Uncertainty about the Natural Unemployment Rate written by Volker Wieland and published by . This book was released on 2003 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Natural Rate Doubts written by Andreas Beyer and published by . This book was released on 2002 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy and Uncertainty about the Natural Unemployment Rate written by Volker Wieland (Econoom.) and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reducing Inflation written by Christina D. Romer and published by University of Chicago Press. This book was released on 2007-12-01 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: While there is ample evidence that high inflation is harmful, little is known about how best to reduce inflation or how far it should be reduced. In this volume, sixteen distinguished economists analyze the appropriateness of low inflation as a goal for monetary policy and discuss possible strategies for reducing inflation. Section I discusses the consequences of inflation. These papers analyze inflation's impact on the tax system, labor market flexibility, equilibrium unemployment, and the public's sense of well-being. Section II considers the obstacles facing central bankers in achieving low inflation. These papers study the precision of estimates of equilibrium unemployment, the sources of the high inflation of the 1970s, and the use of non-traditional indicators in policy formation. The papers in section III consider how institutions can be designed to promote successful monetary policy, and the importance of institutions to the performance of policy in the United States, Germany, and other countries. This timely volume should be read by anyone who studies or conducts monetary policy.
Download or read book Risk Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Download or read book The Great Demographic Reversal written by Charles Goodhart and published by Springer Nature. This book was released on 2020-08-08 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Natural Rate Doubts written by Roger E. A. Farmer and published by . This book was released on 2000 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Uncertainty and Unemployment written by Sangyup Choi and published by International Monetary Fund. This book was released on 2015-02-23 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and sectoral channels. Using S&P500 data from the first quarter of 1957 to third quarter of 2014, we construct separate indices to measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with the impact dissipating within a year. In contrast, sectoral uncertainty has a long-lived impact on unemployment, with the peak impact occurring after two years. The results are consistent with a view that the impact of aggregate uncertainty occurs through a “wait-and-see” mechanism while increased sectoral uncertainty raises unemployment by requiring greater reallocation across sectors.
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Download or read book Merchants of Doubt written by Naomi Oreskes and published by A&C Black. This book was released on 2011-10-03 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. scientific community has long led the world in research on such areas as public health, environmental science, and issues affecting quality of life. These scientists have produced landmark studies on the dangers of DDT, tobacco smoke, acid rain, and global warming. But at the same time, a small yet potent subset of this community leads the world in vehement denial of these dangers. Merchants of Doubt tells the story of how a loose-knit group of high-level scientists and scientific advisers, with deep connections in politics and industry, ran effective campaigns to mislead the public and deny well-established scientific knowledge over four decades. Remarkably, the same individuals surface repeatedly-some of the same figures who have claimed that the science of global warming is "not settled" denied the truth of studies linking smoking to lung cancer, coal smoke to acid rain, and CFCs to the ozone hole. "Doubt is our product," wrote one tobacco executive. These "experts" supplied it. Naomi Oreskes and Erik M. Conway, historians of science, roll back the rug on this dark corner of the American scientific community, showing how ideology and corporate interests, aided by a too-compliant media, have skewed public understanding of some of the most pressing issues of our era.
Download or read book Shadows of Doubt written by Brendan O'Flaherty and published by Harvard University Press. This book was released on 2019-04-15 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shadows of Doubt reveals how deeply stereotypes distort our interactions, shape crime, and deform the criminal justice system. If you’re a robber, how do you choose your victims? As a police officer, how afraid are you of the young man you’re about to arrest? As a judge, do you think the suspect in front of you will show up in court if released from pretrial detention? As a juror, does the defendant seem guilty to you? Your answers may depend on the stereotypes you hold, and the stereotypes you believe others hold. In this provocative, pioneering book, economists Brendan O’Flaherty and Rajiv Sethi explore how stereotypes can shape the ways crimes unfold and how they contaminate the justice system through far more insidious, pervasive, and surprising paths than we have previously imagined. Crime and punishment occur under extreme uncertainty. Offenders, victims, police officers, judges, and jurors make high-stakes decisions with limited information, under severe time pressure. With compelling stories and extensive data on how people act as they try to commit, prevent, or punish crimes, O’Flaherty and Sethi reveal the extent to which we rely on stereotypes as shortcuts in our decision making. Sometimes it’s simple: Robbers tend to target those they stereotype as being more compliant. Other interactions display a complex and sometimes tragic interplay of assumptions: “If he thinks I’m dangerous, he might shoot. I’ll shoot first.” Shadows of Doubt shows how deeply stereotypes are implicated in the most controversial criminal justice issues of our time, and how a clearer understanding of their effects can guide us toward a more just society.
Download or read book A History of Macroeconomics from Keynes to Lucas and Beyond written by Michel De Vroey and published by Cambridge University Press. This book was released on 2016-01-08 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.
Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""
Download or read book The Sustainable Development Theory A Critical Approach Volume 2 written by Ion Pohoaţă and published by Springer Nature. This book was released on 2021-10-05 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the present conflictual relationship between the economy, the environment, and society. The current mainstream economic model is analysed from the perspective of the founding economists to review its suitability to tackle issues of sustainable development. The problems of redistribution and social justice are debated at length; alongside those concerning the giant state, degrowth, and a vision of sustainability that is founded on the idea of a self-regulating free market economy. Business cycle sustainability, anti-crisis therapy, technological unemployment, the natural rate of interest, and the Bruntland matrix are also examined. This book aims to present a holistic approach to sustainable development where social, ecological, and economic components are balanced. It will be relevant to students and researchers interested in this topic.
Download or read book Labour Economics written by Stephen W. Smith and published by Routledge. This book was released on 2003-03-20 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the six years since the appearance of the first edition of Stephen Smith's book, labour economics has become a more firmly entrenched subject on the curriculum. Previously regarded as a subsection within industrial economics, there are now very few universities that do not devote a course to it in its own right. The focus of topics covered withi
Download or read book Darwin s Doubt written by Stephen C. Meyer and published by Harper Collins. This book was released on 2013-06-18 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Charles Darwin finished The Origin of Species, he thought that he had explained every clue, but one. Though his theory could explain many facts, Darwin knew that there was a significant event in the history of life that his theory did not explain. During this event, the “Cambrian explosion,” many animals suddenly appeared in the fossil record without apparent ancestors in earlier layers of rock. In Darwin’s Doubt, Stephen C. Meyer tells the story of the mystery surrounding this explosion of animal life—a mystery that has intensified, not only because the expected ancestors of these animals have not been found, but because scientists have learned more about what it takes to construct an animal. During the last half century, biologists have come to appreciate the central importance of biological information—stored in DNA and elsewhere in cells—to building animal forms. Expanding on the compelling case he presented in his last book, Signature in the Cell, Meyer argues that the origin of this information, as well as other mysterious features of the Cambrian event, are best explained by intelligent design, rather than purely undirected evolutionary processes.
Download or read book Macroeconomics and the Phillips Curve Myth written by James Forder and published by OUP Oxford. This book was released on 2014-10-09 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reconsiders the role of the Phillips curve in macroeconomic analysis in the first twenty years following the famous work by A. W. H. Phillips, after whom it is named. It argues that the story conventionally told is entirely misleading. In that story, Phillips made a great breakthrough but his work led to a view that inflationary policy could be used systematically to maintain low unemployment, and that it was only after the work of Milton Friedman and Edmund Phelps about a decade after Phillips' that this view was rejected. On the contrary, a detailed analysis of the literature of the times shows that the idea of a negative relation between wage change and unemployment - supposedly Phillips' discovery - was commonplace in the 1950s, as were the arguments attributed to Friedman and Phelps by the conventional story. And, perhaps most importantly, there is scarcely any sign of the idea of the inflation-unemployment tradeoff promoting inflationary policy, either in the theoretical literature or in actual policymaking. The book demonstrates and identifies a number of main strands of the actual thinking of the 1950s, 1960s, and 1970s on the question of the determination of inflation and its relation to other variables. The result is not only a rejection of the Phillips curve story as it has been told, and a reassessment of the understanding of the economists of those years of macroeconomics, but also the construction of an alternative, and historically more authentic account, of the economic theory of those times. A notable outcome is that the economic theory of the time was not nearly so naïve as it has been portrayed.
