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The Great Recession
Market Failure or Policy Failure?
Taschenbuch von Robert L. Hetzel
Sprache: Englisch

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Beschreibung
Argues that the 2008-9 recession needs to be understood as deriving from mistakes of central banks and regulators, not financial markets.
Argues that the 2008-9 recession needs to be understood as deriving from mistakes of central banks and regulators, not financial markets.
Über den Autor
Robert L. Hetzel is Senior Economist and Policy Adviser in the Research Department of the Federal Reserve Bank of Richmond, where he participates in debates over monetary policy and prepares the Bank's president for meetings of the Federal Open Market Committee. Dr Hetzel's research on monetary policy and the history of central banking has appeared in publications such as the Journal of Money, Credit, and Banking; the Journal of Monetary Economics; the Monetary and Economics Studies series of the Bank of Japan; and the Carnegie-Rochester Conference Series. His writings provided one of the catalysts for the congressional hearings and treasury studies that led to the issuance of Treasury Inflation Protected Securities (TIPS). Dr Hetzel has given seminars or served as a visiting scholar at the Austrian National Bank, the Bank of England, the Bank of Japan, the Bundesbank, the European Central Bank, the National Bank of Hungary and the Center for Research into European Integration in Bonn, Germany. He received his PhD in 1975 from the University of Chicago, where Nobel Laureate Milton Friedman chaired his dissertation committee. Dr Hetzel is author of The Monetary Policy of the Federal Reserve: A History (Cambridge University Press, 2008).
Inhaltsverzeichnis
Preface; 1. The 2008-9 recession: market or policymaker failure?; 2. Recessions: financial instability or monetary mismanagement?; 3. The great contraction: 1929-33; 4. Monetary policy and bank runs in the great contraction; 5. Vigorous recovery and relapse: 1933-9; 6. Inter-war international monetary experiments; 7. Identifying the shocks that cause recessions; 8. From stop-go to the great moderation; 9. Controlling bank risk taking: market or regulator discipline?; 10. The housing crash: subsidizing housing and bank risk taking; 11. Bubble trouble: easy money in 2003 and 2004?; 12. What caused the great recession of 2008-9?; 13. What caused the great leverage collapse?; 14. The distinctions between credit, monetary, and liquidity policy; 15. Fed market interventions: the experiment with credit policy; 16. Evaluating policy: what are the relevant counterfactuals?; 17. The business cycle: inherent instability or monetary instability?; 18. Why is learning so hard?; 19. How should society regulate capitalism: rules vs. discretion?
Details
Erscheinungsjahr: 2014
Fachbereich: Volkswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Taschenbuch
ISBN-13: 9781107459601
ISBN-10: 1107459605
Sprache: Englisch
Ausstattung / Beilage: Paperback
Einband: Kartoniert / Broschiert
Autor: Hetzel, Robert L.
Hersteller: Cambridge University Press
Maße: 229 x 152 x 23 mm
Von/Mit: Robert L. Hetzel
Erscheinungsdatum: 25.06.2014
Gewicht: 0,647 kg
Artikel-ID: 105193695
Über den Autor
Robert L. Hetzel is Senior Economist and Policy Adviser in the Research Department of the Federal Reserve Bank of Richmond, where he participates in debates over monetary policy and prepares the Bank's president for meetings of the Federal Open Market Committee. Dr Hetzel's research on monetary policy and the history of central banking has appeared in publications such as the Journal of Money, Credit, and Banking; the Journal of Monetary Economics; the Monetary and Economics Studies series of the Bank of Japan; and the Carnegie-Rochester Conference Series. His writings provided one of the catalysts for the congressional hearings and treasury studies that led to the issuance of Treasury Inflation Protected Securities (TIPS). Dr Hetzel has given seminars or served as a visiting scholar at the Austrian National Bank, the Bank of England, the Bank of Japan, the Bundesbank, the European Central Bank, the National Bank of Hungary and the Center for Research into European Integration in Bonn, Germany. He received his PhD in 1975 from the University of Chicago, where Nobel Laureate Milton Friedman chaired his dissertation committee. Dr Hetzel is author of The Monetary Policy of the Federal Reserve: A History (Cambridge University Press, 2008).
Inhaltsverzeichnis
Preface; 1. The 2008-9 recession: market or policymaker failure?; 2. Recessions: financial instability or monetary mismanagement?; 3. The great contraction: 1929-33; 4. Monetary policy and bank runs in the great contraction; 5. Vigorous recovery and relapse: 1933-9; 6. Inter-war international monetary experiments; 7. Identifying the shocks that cause recessions; 8. From stop-go to the great moderation; 9. Controlling bank risk taking: market or regulator discipline?; 10. The housing crash: subsidizing housing and bank risk taking; 11. Bubble trouble: easy money in 2003 and 2004?; 12. What caused the great recession of 2008-9?; 13. What caused the great leverage collapse?; 14. The distinctions between credit, monetary, and liquidity policy; 15. Fed market interventions: the experiment with credit policy; 16. Evaluating policy: what are the relevant counterfactuals?; 17. The business cycle: inherent instability or monetary instability?; 18. Why is learning so hard?; 19. How should society regulate capitalism: rules vs. discretion?
Details
Erscheinungsjahr: 2014
Fachbereich: Volkswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Taschenbuch
ISBN-13: 9781107459601
ISBN-10: 1107459605
Sprache: Englisch
Ausstattung / Beilage: Paperback
Einband: Kartoniert / Broschiert
Autor: Hetzel, Robert L.
Hersteller: Cambridge University Press
Maße: 229 x 152 x 23 mm
Von/Mit: Robert L. Hetzel
Erscheinungsdatum: 25.06.2014
Gewicht: 0,647 kg
Artikel-ID: 105193695
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