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Friday, July 10, 2020 | History

8 edition of Inflation: the problems it creates and the policies it requires found in the catalog.

Inflation: the problems it creates and the policies it requires

by Arthur M. Okun

  • 49 Want to read
  • 1 Currently reading

Published by New York University Press in New York .
Written in English

    Places:
  • United States.
    • Subjects:
    • Inflation (Finance) -- United States,
    • Fiscal policy -- United States,
    • International finance

    • Edition Notes

      Includes bibliographical references.

      Statement[by] Arthur M. Okun, Henry M. Fowler [and] Milton Gilbert.
      SeriesThe Charles C. Moskowitz lectures,, no. 10
      ContributionsFowler, Henry H., 1908-, Gilbert, Milton, 1909-
      Classifications
      LC ClassificationsHG538 .O5
      The Physical Object
      Paginationxxviii, 232 p.
      Number of Pages232
      ID Numbers
      Open LibraryOL5218725M
      LC Control Number75114759

        There are two types of fiscal policy. The most widely-used is expansionary, which stimulates economic ss uses it to end the contraction phase of the business cycle when voters are clamoring for relief from a government either spends more, cuts taxes, or idea is to put more money into consumers' hands, so they spend more. With real GDP growing briskly in the first half of , the Fed became concerned that inflation would increase, even though the inflation rate at the time was about 2%, and in June , it raised its goal for the federal funds rate to 5% and continued raising the rate until it reached % in May

      Except for when inflation hit %, inflation has hovered between % and % in all the other years between and , so the inflation goal was met or nearly met, but unemployment fluctuated between % and % during those years.   The best that we can hope for right now is a Fed that creates as few unintended consequences as possible. Unfortunately, such an outcome requires .

        OK, wait, no, I see it. To break a wage-price spirral, you advise a neoclassical tightening of monetary policy — issuing Treasury bonds (for example) at high rates to deliberately drive out private investment — or a neoclassical tightening of fiscal policy — firing highly-paid workers, shutting down parts of the government sector — while driving said people into the fixed-wage JG sector. The return of inflation to a very low and stable level led to a second shift in the Phillips curve in the mids, back to a relationship between the level of inflation and the unemployment rate. In addition to this shift in the persistence of inflation, many researchers have found that the Phillips curve has been very flat since the s.


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Inflation: the problems it creates and the policies it requires by Arthur M. Okun Download PDF EPUB FB2

Get this from a library. Inflation: the problems it creates and the policies it requires. [Arthur M Okun; Henry H Fowler; Milton Gilbert]. Inflation; the Problems it creates and the Policies it Requires Unknown Binding – January 1, See all formats and editions Hide other formats and editions.

Price New from Used from Hardcover "Please retry" $ — $ Hardcover $ 1 Used Manufacturer: New York University Press. Inflation: the problems it creates and the policies it requires [by] Arthur M.

Okun, Henry M. Fowler [and] Milton Gilbert New York University Press New York Wikipedia Citation Please see Wikipedia's template documentation for further citation fields that may be required. OCLC Number: Notes: Reprinted from The Problems It Creates and the Policies Ir Requires, Description: 53 pages ; 23 cm.

Series Title: Brookings Institution. The new government set an annual inflation rate of zero to 2 percent as the central bank’s key objective. The simplicity of the target was seen as part of its appeal — no excuses, no hedging.

Inflation: The Problems It Creates and the Policies It Requires (with Henry M. Fowler and Milton Gilbert). New York: New York University Press, The Political Economy of Prosperity. Washington, DC: Brookings Institution, Equality and Efficiency: The Big. Book reviewed in this article: Public Investment, The Rate of Return, and Optimal Fiscal Policy.

By Kenneth J. Arrow and Mordecai Kurz. Making Monetary and Fiscal Policy. By G. Bach. Monetary Theory: Selected Readings. By R. Clower. An Essay on The Theory of Economic Prediction.

By Lawrence R. Klein. Varieties of Monetary Experience. David Meiselman Inflation: The Problems it. In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy.

Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. Central banks attempt to limit inflation.

The Battle Against Unemployment and Inflation (Problems of the modern economy) Prices and Quantities: A Macroeconomic Analysis Inflation: The Problems It Creates And The Policies It Requires.

Their forecast that inflation and unemployment would improve in proved wide of the mark—the unemployment rate rose from % to % (an increase of 20%), while the rate of inflation measured by the change in the implicit price deflator barely changed from % to %.

Inflation averaged one-quarter percent per year, so a dollar saved retained almost all of its purchasing power for decades. Inflation's Winners and Losers. Inflation creates winners as well as losers, and those who advocate inflationary policy do so because they think of themselves as on the side of the winners.

Inflation accounting comprises a range of accounting models designed to correct problems arising from historical cost accounting in the presence of high inflation and hyperinflation. For example, in countries experiencing hyperinflation the International Accounting Standards Board requires corporations to implement financial capital maintenance in units of constant purchasing power in terms of.

A 'read' is counted each time someone views a publication summary (such as the title, abstract, and list of authors), clicks on a figure, or views or downloads the full-text.

By drawing a scatterplot of the data for the rates of unemployment and inflation in the British economy between andhe found that low rates of unemployment were associated with high rates of inflation, and high unemployment with low inflation. which in turn creates a bargaining gap of 1%.

In the recession shown, the downward. "Inflation: The Problems and Prospects before Us," in Inflation: The Problems It Creates and the Policies It Requires (with Henry M. Fowler and Milton Gilbert). New York: New York University Press, Brookings Reprint "Notes and Numbers on the Profits Squeeze" (with George L.

Perry), Brookings Papers on Economic Activity. 3:   This creates a dilemma for major central banks – beginning with the US Federal Reserve and the European Central Bank – attempting to phase out unconventional monetary policies: they have secured higher growth, but are still not hitting their target of a 2% annual inflation rate.

Economic Development Reference Guide Acknowledgements Verizon Verizon's mission is to open doors for economic development and to build relationships and partnerships that help create and retain jobs in Verizon communities. New jobs are the lifeblood of any thriving region and can ensure economic health and prosperity for years to come.

Job. Evaluating the status of _____ requires comparing the sizes of the adjusted budget deficits and surpluses to the level of potential GDP. Operational A(n) _____________ lag occurs between the time fiscal action is taken and the time that action affects output, employment, and the price level.

In economics, stagflation or recession-inflation is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment.

The term, a portmanteau of stagnation and inflation, is generally attributed to Iain Macleod, a British. Inflation creates other opportunities for sophisticated institutions to unfairly take advantage of the average individual, in many people's minds.

Inflation can increase the complexity of evaluating financial assets, from CDs and insurance policies to stocks and bonds.Measuring inflation.

Measuring changes in average price levels requires the use of a device called an index. It is impossible to keep an accurate record of every price change for every good and service in the economy at all times.

Inthe UK Government began to monitor food prices to help protect workers during the First World War. Discover the role that e-commerce giant Amazon plays in wage growth, inflation, and wealth creation to impact the greater U.S.

economy.