Defensive Expectations
Voinea, Liviu
Produktnummer:
185ef35f8650b94fcdb78692fda4cabbe4
| Autor: | Voinea, Liviu |
|---|---|
| Themengebiete: | Phillips Curve austerity consumption theory global financial crisis inflation monetary policy wage |
| Veröffentlichungsdatum: | 10.12.2020 |
| EAN: | 9783030550448 |
| Sprache: | Englisch |
| Seitenzahl: | 196 |
| Produktart: | Gebunden |
| Verlag: | Springer International Publishing |
| Untertitel: | Reinventing the Phillips Curve as a Policy Mix |
Produktinformationen "Defensive Expectations"
This book explains why inflation remains subdued after recessions, based on three revolutionary concepts: defensive expectations, compensatory savings, and cumulative wage gap. When income falls, consumption falls, and savings rise, as people rebuild their past wealth. Households will not spend more until they fully recover what they lost. The revised Phillips Curve explains that current inflation depends on the cumulative difference between current income and past income.This new theory is tested and validated by data for US since 1960 to date and for 35 OECD countries from 1990 to date. A number of policy implications are derived from these results. The book calls for an optimal policy mix between monetary policy and fiscal policy; it also discusses the coronavirus crisis as an extreme case of defensive expectations.
Sie möchten lieber vor Ort einkaufen?
Sie haben Fragen zu diesem oder anderen Produkten oder möchten einfach gerne analog im Laden stöbern? Wir sind gerne für Sie da und beraten Sie auch telefonisch.
Juristische Fachbuchhandlung
Georg Blendl
Parcellistraße 5 (Maxburg)
8033 München
Montag - Freitag: 8:15 -18 Uhr
Samstags geschlossen