From Preemptive Tightening to Preemptive Easing: The Evolution of U.S. Monetary Doctrines and Practices in the Great Moderation - Couverture souple

Gustavson, Marius

 
9783846539033: From Preemptive Tightening to Preemptive Easing: The Evolution of U.S. Monetary Doctrines and Practices in the Great Moderation
Couverture souple
ISBN 10 : 3846539031 ISBN 13 : 9783846539033
Editeur : LAP LAMBERT Academic Publishing, 2011

Synopsis

This book explores the evolution of U.S. monetary doctrines and practices during the Great Moderation (c.1985-2005). In the first half of this period, policy was mainly concerned with the threat of inflation. The wish to build reputational capital as credible inflation fighters was high on the list of priorities. As the Great Moderation became entrenched in the minds of policymakers and economists, the gains were perceived as more permanently realized. At the same time, new challenges arose both within the domestic economy and the global financial system. The Federal Reserve under the leadership of Alan Greenspan (1987-2006) developed an approach to monetary policy based on the notions of preemption and risk management. The main thesis is that policy moved from a bias toward preemptive tightening to fully contain inflation, to an approach characterized by preemptive easing when perceived downside risks appear, related to financial fallouts and the threat of deflation.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

This book explores the evolution of U.S. monetary doctrines and practices during the Great Moderation (c.1985-2005). In the first half of this period, policy was mainly concerned with the threat of inflation. The wish to build reputational capital as credible inflation fighters was high on the list of priorities. As the Great Moderation became entrenched in the minds of policymakers and economists, the gains were perceived as more permanently realized. At the same time, new challenges arose both within the domestic economy and the global financial system. The Federal Reserve under the leadership of Alan Greenspan (1987-2006) developed an approach to monetary policy based on the notions of preemption and risk management. The main thesis is that policy moved from a bias toward preemptive tightening to fully contain inflation, to an approach characterized by preemptive easing when perceived downside risks appear, related to financial fallouts and the threat of deflation.

Biographie de l'auteur

Marius Gustavson is a researcher and policy analyst at the Norwegian think tank Civita. His areas of research include economic history, the history of economic though and monetary policy.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
LAP LAMBERT Academic Publishing
Date d'édition
2011
Langue
anglais
ISBN 10 
3846539031
ISBN 13 
9783846539033
Reliure
Broché
Nombre de pages
184
Coordonnées du fabricant
non disponible
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