Описание: "This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability-oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Gali explores various issues pertaining to monetary policy`s design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects for monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes labor and financial market frictions, the zero lower bound on nominal interest rates, and an analysis of unemployment`s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts "--
Автор: Hajime Hori Название: Business Cycle Dynamics and Stabilization Policies ISBN: 9811030804 ISBN-13(EAN): 9789811030802 Издательство: Springer Рейтинг: Цена: 12577.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This monograph is devoted to the analysis of the dynamics of business cycles and stabilization policies. (4) If coordinated properly, monetary stabilization policies can remove the destabilizing tendency of fiscal stabilization policies.
Автор: A. Makin Название: Global Imbalances, Exchange Rates and Stabilization Policy ISBN: 1349366692 ISBN-13(EAN): 9781349366699 Издательство: Springer Рейтинг: Цена: 13974.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book analyzes key international monetary issues from a macro-foundations perspective. It proposes novel frameworks to interpret macroeconomic and financial linkages for globally integrated economies, examining global imbalances, exchange rates, interest rates, international capital flows, inflation, foreign and public debt.
Автор: Yilin Hou Название: Local Government Budget Stabilization ISBN: 3319151851 ISBN-13(EAN): 9783319151854 Издательство: Springer Рейтинг: Цена: 13974.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book is the first comprehensive, full-scale treatment of the politics, law, and economics with regard to the policies and policy instruments for budget stabilization at the local level.
Описание: This bookinvestigates the impact of International Monetary Fund (IMF) programmes onmacroeconomic instability and economic growth in recipient countries.
With a new look at the 1880s financial reforms in Japan, Steven J. Ericson's Financial Stabilization in Meiji Japan overturns widely held views of the program carried out by Finance Minister Matsukata Masayoshi. As Ericson shows, rather than constituting an orthodox financial-stabilization program—a sort of precursor of the "neoliberal" reforms promoted by the IMF in the 1980s and 1990s—Matsukata's policies differed in significant ways from both classical economic liberalism and neoliberal orthodoxy.
The Matsukata financial reform has become famous largely for the wrong reasons, and Ericson sets the record straight. He shows that Matsukata intended to pursue fiscal retrenchment and budget-balancing when he became finance minister in late 1881. Various exigencies, including foreign military crises and a worsening domestic depression, compelled him instead to increase spending by running deficits and floating public bonds. Though he drastically reduced the money supply, he combined the positive and contractionary policies of his immediate predecessors to pull off a program of "expansionary austerity" paralleling state responses to financial crisis elsewhere in the world both then and now.
Through a new and much-needed recalibration of this pivotal financial reform, Financial Stabilization in Meiji Japan demonstrates that, in several ways, ranging from state-led export promotion to the creation of a government-controlled central bank, Matsukata advanced policies that were more in line with a nationalist, developmentalist approach than with a liberal economic one. Ericson shows that Matsukata Masayoshi was far from a rigid adherent of classical economic liberalism.
Автор: Iasson Karafyllis; Zhong-Ping Jiang Название: Stability and Stabilization of Nonlinear Systems ISBN: 1447126475 ISBN-13(EAN): 9781447126478 Издательство: Springer Рейтинг: Цена: 20896.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: The subject of nonlinear control systems analysis has grown rapidly and this book provides a simple presentation of their stability and feedback stabilization. It enables the reader to learn and understand major techniques used in mathematical control theory.
Автор: Yasushi Mieno; Kumiharu Shigehara Название: Price Stabilization in the 1990s ISBN: 1349128953 ISBN-13(EAN): 9781349128952 Издательство: Springer Рейтинг: Цена: 8384.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Investigates various aspects of inflation - the recent history of inflation as well as potential sources of changes, the technical issues regarding the measurement of inflation, the indicators for future inflation, and the policy implications to achieve and maintain price stability.
Автор: Rolf J. Langhammer; L?cio Vinhas de Souza Название: Monetary Policy and Macroeconomic Stabilization in Latin America ISBN: 364206499X ISBN-13(EAN): 9783642064999 Издательство: Springer Рейтинг: Цена: 21661.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Latin America is a very important region of the globe, which has been buffeted by successive waves of economic instability within the last decades. These waves have caused several episodes of hyperinflation or near hyperinflation, and several currency and financial crises, which, in certain moments, have even spilled over and affected other emerging markets. This has resulted in huge costs in terms of lost potential growth, and, as is inevitable, the markets most affected by this have been the least capable of defending themselves. In a region plagued by still considerable rates of social exclusion, with some of the highest rates of income concentration in the whole globe, the human costs of these crises have been very substantial. Starting in the early 1990s, the slow implementation of reforms, plus the resumption of more sustained growth--to a substantial degree linked to the increase in commodity prices, especially since the early 2000s--seems to have resulted in a more stable situation. Initially, in early reformers like Chile, later in the larger economies of the region, like Brazil and Mexico, a consensus-- embraced by both sides of the political spectrum--towards integration in global markets, both in their trade and financial components, floating exchange rates, independent monetary authorities, and sustainable fiscal policies has emerged.
A new approach for introducing unemployment into the New Keynesian framework.
The past fifteen years have witnessed the rise of the New Keynesian model as a framework of reference for the analysis of fluctuations and stabilization policies. That framework, which combines the rigor and internal consistency of dynamic general equilibrium models with such typically Keynesian assumptions as monopolistic competition and nominal rigidities, makes possible a meaningful, welfare-based analysis of the effects of monetary policy rules. But the conspicuous absence of unemployment from the standard New Keynesian model has given rise to both criticism and attempts to rectify this anomaly. In this book, Jordi Gali, one of the major contributors to the New Keynesian literature, offers a new approach to introducing unemployment into that framework.
Gali's approach involves a reinterpretation of the labor market in the standard New Keynesian model with staggered wage setting (rather than a modification or extension of the model, as has been proposed by others). The resulting framework preserves the convenience of the representative household paradigm and allows one to determine the equilibrium levels of employment, the labor force, and hence the unemployment rate conditional on the monetary policy in place.
Gali develops the basic model, embedding it in a standard New Keynesian framework with staggered price and wage setting; revisits the relationship between economic fluctuations and efficiency through the lens of the new model, developing a measure of the output gap; and analyzes the relation between unemployment and the design of monetary policy.
Автор: Wallace Название: An Ecosystem Approach to Economic Stabilization ISBN: 1138831867 ISBN-13(EAN): 9781138831865 Издательство: Taylor&Francis Рейтинг: Цена: 22968.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
The creation of economic institutions that can function well under substantial uncertainties -- Black Swans -- is analogous to the dilemmas confronting our hunter-gatherer forefathers in the face of large-scale ecological unpredictability. The ultimate solution was not the development of a super hunter-gatherer technology that could ride out repeated catastrophe, but rather the invention, in neolithic times, of culturally-adapted 'farmed' ecosystems constructed to maximize food yield and minimize risks of famine.
Recent advances in evolutionary and ecosystem theory applied to economic structure and process may permit construction of both new economic theory and new tools for data analysis that can help in the design of more robust economic institutions. This may result in less frequent and less disruptive transitions, and enable the design of culturally-specific systems less affected by those that do occur.
This unique and innovative book applies cutting-edge methods from cognitive science and evolutionary theory to the problem of the necessary stabilization of economic processes. At the core of this book is the establishment of a statistics-like toolbox for the study of empirical data that is consistent with generalized evolutionary approaches. This toolbox enables the construction of both new economic theories and methods of data analysis that can help in the design of more robust economic institutions. This in turn will result in less frequent and less disruptive Black Swans, and enable as well the design of culturally-specific systems less affected by those that do occur.
Автор: G.W Kolodko; Danuta Gotz-Kozierkiewicz; Elz. Skrze Название: Hyperinflation and Stabilization in Postsocialist Economies ISBN: 9401057346 ISBN-13(EAN): 9789401057349 Издательство: Springer Рейтинг: Цена: 6986.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: One would think states and peoples have had so many bad experiences with inflation that politicians at the helm of these states would do everything within their power to avoid inflation and, in particular, its very intensive shape, i.
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