Money in the Great Recession: Did a Crash in Money Growth Cause the Global Slump? - Couverture rigide

Couverture rigide

ISBN 10 : 1784717827 ISBN 13 : 9781784717827

Editeur : Edward Elgar Publishing Ltd, 2017

Synopsis

No issue is more fundamental in contemporary macroeconomics than identifying the causes of the recent Great Recession. The standard view is that the banks were to blame because they took on too much risk, 'went bust' and had to be bailed out by governments. However very few banks actually had losses in excess of their capital. The counter-argument presented in this stimulating new book is that the Great Recession was in fact caused by a collapse in the rate of change of the quantity of money. This was the result of a mistimed and inappropriate tightening of banks' capital regulations, which had vicious deflationary consequences at just the wrong point in the business cycle. Central bankers and financial regulators made serious mistakes. The book's argument echoes that on the causes of the Great Depression made by Milton Friedman and Anna Schwartz in their classic book A Monetary History of the United States.

Offering an alternative monetary explanation of the Great Recession, this book is essential reading for all economists working in macroeconomics and monetary economics. It will also appeal to those interested in the wider public policy debates arising from the crisis and its aftermath.

Contributors include: P. Booth, J.E. Castañeda, T. Congdon, C. Goodhart, S. Hanke, D. Laidler, A. Ridley, R. Skidelsky, R. Thomas

A propos du livre

À propos de l'auteur

Edited by Tim Congdon, CBE, Chairman, Institute of International Monetary Research and Professor, University of Buckingham, UK

Détails de l'édition

• Éditeur: Edward Elgar Publishing Ltd
• Date d'édition: 2017
• Langue: anglais
• ISBN 10: 1784717827
• ISBN 13: 9781784717827
• Reliure: Relié
• Nombre de pages: 288
• Éditeur: Congdon Tim
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible