krainaksiazek a century of monetary policy at the fed 20054867

- znaleziono 21 produktów w 2 sklepach

Fed Power - 2854364469

95,98 zł

Fed Power Oxford University Press

Książki / Literatura obcojęzyczna

The Federal Reserve, created a century ago, is the most powerful central bank in the world. It dictates interest rates and designs bailouts without the usual checks and balances that pervade US domestic policy making. Most commentators treat the Fed as an impartial referee exercising its independence to advance the best interests of America. Wrong. Lawrence Jacobs and Desmond King's Fed Power is the first sustained examination of the Fed as a potent institution in its own right and an engine for producing concealed advantages for a privileged few. They trace the Fed's historic development from the fiery tug-of-war over monetary policy during 19th century into a mutant 'big government' institution with unparalleled capacity and autonomy to intervene - often surreptitiously - in private markets. Jacobs and King dissect the Fed's programs during the Great Recession to reveal how it funneled enormous sums to a select few in the finance industry while leaving Main Street businesses adrift and millions of homeowners underwater. Far from serving the national interest, the Fed increased economic inequality in America and further enriched the one percent. America is heading into the next financial crisis without an effective central bank because of the public and congressional backlash against the Fed's favoritism. "End the Fed" is a slogan and symptom of the Fed's illegitimacy; it is also a roadmap to mass unemployment and impoverishment. America, like other democratic capitalist countries, requires an effective central bank to step in as a last resort during financial maelstroms and to rudder the economy under normal circumstances. Jacobs and King present an energetic reform agenda to build an accountable central bank in America. Fed Power is key reading for anyone who wants to understand the Fed's contribution to inequality in the U.S. and the coming political crisis that will be provoked by the next financial implosion.


Monetary History of the United States, 1867-1960 - 2826817988

340,37 zł

Monetary History of the United States, 1867-1960 UNIVERSITY PRESSES

Książki / Literatura obcojęzyczna

Writing in the June 1965 issue of the "Economic Journal", Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: 'The long-awaited "Monetary History of the United States" by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement - monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small ...monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues'.Friedman and Schwartz marshaled massive historical data and sharp analytics to support the claim that monetary policy - steady control of the money supply - matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. In their influential chapter 7, "The Great Contraction" - which Princeton published in 1965 as a separate paperback - they address the central economic event of the century, the Depression. According to Hugh Rockoff, writing in January 1965: 'If Great Depressions could be prevented through timely actions by the monetary authority (or by a monetary rule), as Friedman and Schwartz had contended, then the case for market economies was measurably stronger.' Milton Friedman won the Nobel Prize in Economics in 2000 for work related to "A Monetary History " as well as to his other Princeton University Press book, "A Theory of the Consumption Function" (1957).


Globalization & its Discontents - 2212824606

36,60 zł

Globalization & its Discontents Penguin


Our world is changing. Globalization is not working. It is hurting those it was meant to help. And now, the tide is turning


Principles of Macroeconomics - 2212830077

202,10 zł

Principles of Macroeconomics McGraw-Hill


Avoiding excessive reliance on formal mathematical derivations, Frank and Bernanke presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforce them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles to answer related questions and exercises. The text also encourages students to become "Economic Naturalists," people who employ basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation.Expanded Discussion of Macroeconomic Policy: The revised monetary policy reaction function we introduce in Chapter 27 is a more realistic description of how the Fed actually conducts monetary policy and clarifies the Taylor rule. In Chapter 28 we use this policy reaction function to help students distinguish between a move along the aggregate demand curve and a shift in the aggregate demand curve resulting from a change in monetary policy. In a new Chapter 29, we provide a more complete analysis of the interaction between fiscal and monetary policy, illustrating the crucial role of the central bank in any long-run inflation. We also discuss how enhanced credibility can help to anchor inflationary expectations and explain the contributions of central bank independence, inflation targeting, and central bank reputation. In the last section of Chapter 29 we expand our discussion of the real-world difficulties in conducting macroeconomic policy. Expanded Discussion of Supply-Side Economics: Most economists agree that changes in marginal tax rates can affect both aggregate demand and aggregate supply, but they disagree on the size of the effects. In Chapter 28 we describe this controversy in greater detail and present both the theoretical and empirical evidence of the effects of changes in marginal tax rates on aggregate supply. Greater Attention to Asset Prices: In Chapter 21 we provide a clearer explanation of the inverse relationship between bond prices and interest rates. We also discuss the effects of changes in asset prices (especially stocks and houses) on aggregate demand. Additional Material on China: At its current rate of growth the Chinese economy may become the largest economy in the world within the next generation. In this edition we expand our discussion of China in the world economy. We discuss the determinants of its success and its management of its exchange rate. New Material on the Acceleration of Productivity Growth: The productivity slowdown of 1973-1995 has been followed by surprisingly strong productivity growth. We present and discuss the reasons for this acceleration. Updated Discussion of Saving and Investment: In addition to emphasizing the importance of public and private saving and the relationship between the budget deficit, national saving, and capital flows, we discuss the recently divergent trends in business and household saving. An Emphasis on Core Principles: A few core principles do most of the work in economics. By focusing on these principles, the text assures that students leave the course with a deep mastery of them. In contrast, traditional encyclopedic texts so overwhelm students with detail that they often leave the course with little useful working knowledge at all. Economic Naturalism Introduced: The authorsĹź ultimate goal is to produce Ĺźeconomic naturalistsĹź--people who see each human action as the result of an implicit or explicit cost-benefit calculation. The economic naturalist sees mundane details of ordinary existence in a new light and becomes actively engaged in the attempt to understand them. o Why donĹźt auto manufacturers make cars without heaters? o Why are whales, but not chickens, threatened with extinction? o Why do movie theaters give student discounts on the price of admission but not on the price of popcorn?


Interest Rate Dynamics, Interest Rate Expectations and the Operational Framework of Central Banks - 2854482909

208,61 zł

Interest Rate Dynamics, Interest Rate Expectations and the Operational Framework of Central Banks Shaker Verlag GmbH, Germany

Książki / Literatura obcojęzyczna

Many central banks implement monetary policy by steering the interest rates at the very short end of the yield curve. Interest rate changes, which are induced by central banks at the short end of the yield curve are transmitted to longer-term maturities. The effectiveness of the transmission process to longer term interest rates can be enhanced by a transparent framework of central banks. The aim of this thesis is to explore how central banks can effectively implement monetary policy decisions at the short end of the yield curve and how they can manage interest rate expectations to facilitate the transmission process to longer-term interest rates. To this end, the thesis is divided into two parts. The first part consists of two papers, which focus on the behavior of the European Central Bank (ECB) and the Federal Reserve (Fed) in the overnight market in the euro zone and the U.S., respectively. Using a set of survey data of institutional investors, the second part of the thesis investigates how market participants assess the reaction of the ECB to macroeconomic variables and whether a more precise central bank communication has improved the perception of the survey participants.


Expectations, Employment and Prices - 2854258758

277,04 zł

Expectations, Employment and Prices Oxford University Press

Książki / Literatura obcojęzyczna

Expectations, Employment and Prices brings Keynesian economics into the 21st century by providing a new paradigm that explains how high unemployment could potentially persist forever without a little help from the government. The book fills in logical gaps that were missing from Keynes' General Theory of Employment Interest and Money by reconciling some of its key ideas with modern economic theory. Central bankers throughout the world are talking now about developing a second instrument of monetary policy in addition to controlling the interest rate. This book directly addresses this issue and offers new creative monetary policy proposals and suggestions for the design of new financial institutions for the 21st century.


America's Great Depression - 2826910334

90,04 zł

America's Great Depression BERTRAMS

Książki / Literatura obcojęzyczna

Rothbard opens with a theoretical treatment of business cycle theory, showing how an expansive monetary policy generates imbalances between investment and consumption. He proceeds to examine the Fed's policies of the 1920s, demonstrating that it was quite inflationary even if the effects did not show up in the price of goods and services. He showed that the stock market correction was merely one symptom of the investment boom that led inevitably to a bust. The Great Depression was not a crisis for capitalism but merely an example of the downturn part of the business cycle, which in turn was generated by government intervention in the economy. Had the book appeared in the 1940s, it might have spared the world much grief. Even so, its appearance in 1963 meant that free-market advocates had their first full-scale treatment of this crucial subject. The damage to the intellectual world inflicted by Keynesian- and socialist-style treatments would be limited from that day forward.


Walter Lippmann - 2854320068

150,40 zł


Książki / Literatura obcojęzyczna

Walter Lippmann was the most distinguished American journalist and public philosopher of the twentieth century. But he was also something more: a public economist who helped millions of ordinary citizens make sense of the most devastating economic depression in history. Craufurd Goodwin offers a new perspective from which to view this celebrated but only partly understood icon of American letters. From 1931 to 1946 Lippmann pursued a far-ranging correspondence with leading economic thinkers: John Maynard Keynes, Lionel Robbins, Friedrich Hayek, Henry Simons, Adolf Berle, Frank Taussig, and others. Sifting through their divergent views, Lippmann formed his own ideas about economic policy during the Great Depression and shared them with a vast readership in his syndicated column, Today and Tomorrow." Unemployment, monetary and fiscal policy, and the merits and drawbacks of free markets were just a few of the issues he helped explain to the public, at a time when professional economists who were also skilled at translating abstract concepts for a lay audience had yet to come on the scene. After World War II Lippmann focused on foreign affairs but revisited economic policy when he saw threats to liberal democracy. In addition to pointing out the significance of the Marshall Plan and the World Bank, he addressed the emerging challenge of inflation and what he called the riddle of the Sphinx: whether price stability and full employment could be achieved in an economy with strong unions."


Roaring Nineties - 2212835695

40,80 zł

Roaring Nineties Penguin


His previous book revealed the shocking truth about globalization. Now, Joseph Stiglitz blows the whistle on the devastation wrought by the free market mantra in the nineties


Modern Greece - 2854308101

306,56 zł

Modern Greece Oxford University Press

Książki / Literatura obcojęzyczna

Just a few years ago, Greece appeared to be a politically secure nation with a healthy economy. Today, Greece can be found at the center of the economic maelstrom in Europe. Beginning in late 2008, the Greek economy entered a nosedive that would transform it into the European country with the most serious and intractable fiscal problems. Both the deficit and the unemployment rate skyrocketed. Quickly thereafter, Greece edged toward a pre-revolutionary condition, as massive anti-austerity protests punctuated by violence and vandalism spread throughout Greek cities. Greece was certainly not the only country hit hard by the recession, but nevertheless the entire world turned its focus toward it for a simple reason: the possibility of a Greek exit from the European Monetary Union, and its potential to unravel the entire Union, with other weaker members heading for the exits as well. The fate of Greece is inextricably tied up with the global politics surrounding austerity as well. Is austerity rough but necessary medicine, or is it an intellectually bankrupt approach to fiscal policy that causes ruin? Through it all, Greece has staggered from crisis to crisis, and the European central bank's periodic attempts to prop up its economy fall short in the face of popular recalcitrance and negative economic growth. Though the catalysts for Greece's current economic crises can be found in the conditions and events of the past few years, one can only understand the factors that helped to transform these crises into a terrible political and social catastrophe by tracing Greece's development as an independent country over the past two centuries. In Greece: What Everyone Needs to Know, Stathis Kalyvas, an eminent scholar of conflict, Europe, and Greece, begins by elucidating the crisis's impact on contemporary Greek society. He then shifts his focus to modern Greek history, tracing the nation's development from the early nineteenth century to the present. Key episodes include the independence movement of the early nineteenth century, the aftermath of World War I (in which Turkey and Greece engaged in a massive mutual ethnic cleansing), the German occupation of World War II, the brutal civil war that followed, the postwar conflict with Turkey over Cyprus, the military coup of 1967, and-finally-democracy and entry into the European Union. The final part of the book will cover the recent crisis in detail. Written by one of the most brilliant political scientists in the academy, Greece is the go-to resource for understanding both the present turmoil and the deeper past that has brought the country to where it is now.


China's New Political Economy - 2854332875

253,63 zł

China's New Political Economy Westview Press Inc

Książki / Literatura obcojęzyczna

In the completely revised second edition of this highly praised book, Susumu Yabuki, one of Japans leading China experts, and Stephen M. Harner, A Shanghai-based investment banker, present a comprehensive and accessible analysis of Chinas political economy. The authors provide dozens of easy-to-grasp and up-to-date graphs, charts, tables, and maps to illustrate the reality of China, as they explain and comment on political, economic, financial and trade trends. Placing issues in historical perspective, and with a view to trends into the twenty-first century, the authors survey the realities of Chinas area and population, agriculture, energy needs, pollution, industrial structure, township and village enterprises, state-owned enterprise reform, unemployment, economic regions, foreign investment, state finances, fiscal and monetary policy, Chinas financial institutions, foreign financial institutions in China, stock markets, international finance, balance of payments and exchange rate policy, corporate finance, the role of Shanghai, government institution reform, foreign trade, the roles of Hong Kong and Taiwan, U. S. -China relations, and Japan-China relations. Useful as an introduction to Chinas economics, finance, and politics for students, and as a desktop reference volume for corporations, organizations, and individuals considering doing business in China, this unique study fills a genuine gap in the literature.


Macroeconomics and the Real World - 2854330217

868,40 zł

Macroeconomics and the Real World Oxford University Press

Książki / Literatura obcojęzyczna

Since the middle of the twentieth century, economists have invested great resources into using statistical evidence to relate macroeconomic theories to the real world, and many new econometric techniques have been employed. In these two volumes, a distinguished group of economic theorists, econometricians, and economic methodologists examine how evidence has been used and how it should be used to understand the real world. Volume 1 focuses on the contribution of econometric techniques to understanding the macroeconomic world. It covers the use of evidence to understand the business cycle, the operation of monetary policy, and economic growth. A further section offers assessments of the overall impact of recent econometric techniques such as cointegration and unit roots. Volume 2 focuses on the labour market and economic policy, with sections covering the IS-LM model, the labour market, new Keynesian macroeconomics, and the use of macroeconomics in official documents (in both the USA and the EU). These volumes will be valuable to advanced undergraduates, graduate students, and practitioners for their clear presentation of opposing perspectives on macroeconomics and how evidence should be used. The chapters are complemented by discussion sections revealing the perspectives of other contributors on the methodological issues raised.


Securing the World Economy - 2854435006

140,17 zł

Securing the World Economy Oxford University Press

Książki / Literatura obcojęzyczna

Securing the World Economy explains how efforts to support global capitalism became a core objective of the League of Nations. Based on new research drawn together from archives on three continents, it explores how the world's first ever inter-governmental organization confronted the powerful forces that influenced the global economy, and the prospects for peace. It traces how the League was drawn into economics and finance by the exigencies of the financial slump and hyperinflation after the First World War, when it provided essential financial support to Austria, Hungary, Greece, Bulgaria, and Estonia, and thereby established the founding principles of financial intervention, international oversight, and the twentieth-century notion of international 'development'. But it is the impact of the Great Depression after 1929 that lies at the heart of this history. Patricia Clavin traces how the League of Nations sought to combat economic nationalism and promote economic and monetary co-operation in a variety of, sometimes contradictory, ways. Many of the economists, bureaucrats, and policy-advisors who worked for it played a seminal role in the history of international relations and social science, and their efforts did not end with the outbreak of the Second World War. In 1940 the League established an economic mission in the United States, where it contributed to the creation of organizations for the post-war world - the United Nations Organization, the IMF, the World Bank, the UN Food and Agriculture Organization - as well as to plans for European reconstruction and co-operation. It is a history that resonates deeply with challenges that face the twenty-first century world.


Closed Commercial State - 2854320363

181,56 zł

Closed Commercial State Princeton University Press

Książki / Literatura obcojęzyczna

This book presents an important new account of Johann Gottlieb Fichte's Closed Commercial State, a major early nineteenth-century development of Rousseau and Kant's political thought. Isaac Nakhimovsky shows how Fichte reformulated Rousseau's constitutional politics and radicalized the economic implications of Kant's social contract theory with his defense of the right to work. Nakhimovsky argues that Fichte's sequel to Rousseau and Kant's writings on perpetual peace represents a pivotal moment in the intellectual history of the pacification of the West. Fichte claimed that Europe could not transform itself into a peaceful federation of constitutional republics unless economic life could be disentangled from the competitive dynamics of relations between states, and he asserted that this disentanglement required transitioning to a planned and largely self-sufficient national economy, made possible by a radical monetary policy. Fichte's ideas have resurfaced with nearly every crisis of globalization from the Napoleonic wars to the present, and his book remains a uniquely systematic and complete discussion of what John Maynard Keynes later termed "national self-sufficiency." Fichte's provocative contribution to the social contract tradition reminds us, Nakhimovsky concludes, that the combination of a liberal theory of the state with an open economy and international system is a much more contingent and precarious outcome than many recent theorists have tended to assume.


State of the European Union - 2854316147

1056,07 zł

State of the European Union Oxford University Press

Książki / Literatura obcojęzyczna

Twenty-first-century Europeans are suddenly confronting new choices about their place in the world. The most immediate challenges reflect tensions in the transatlantic partnership - long the keystone of European worldviews. In the Iraqi conflict President Bush posed a blunt general question to the world: 'Are you with us or against us?' and much of Europe chose the latter. More than at any time since 1945, Europeans are uncertain about the future of transatlantic cooperation. Internal European developments combine with this external shift to create the impression of a continental turning point. The fifty-year project of the European Union is entering a new phase. The Single Market program and monetary union realized the most ambitious visions of the EU's founding fathers. Most thinking about further integration is exceedingly vague. Simultaneous EU enlargement to the east (and beyond to Turkey) may create opportunities to reopen the Union's basic bargains. This book proposes to help students and scholars understand the many trends of change that have brought Europe to these crossroads. Its approach is novel in two ways. First, most similar scholarship either seeks a single grand theory of European change or implies that European politics is too complex to map change broadly. This book takes a middle-ground position, positing several distinct mechanisms of change and tracing them across policies and institutional settings. Second, it uses the United States as a reference point to chart European change. The aim is not comparative - the focus remains on Europe - but the volume maps out EU trends against American policy positions and institutional patterns, thus providing a useful comparative anchor for complex patterns. This is the seventh volume in the biennial series "State of the European Union", launched in 1991, and produced under the auspices of the European Union Studies Association (EUSA).


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