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The great recession : market failure or policy failure? /

"Since publication of Robert L. Hetzel's The Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. That consensus emphasized efficient markets, rational expectations, and the efficacy of...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Hetzel, Robert L.
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Cambridge ; New York : Cambridge University Press, ©2012.
Colección:Studies in macroeconomic history.
Temas:
Acceso en línea:Texto completo

MARC

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245 1 4 |a The great recession :  |b market failure or policy failure? /  |c Robert L. Hetzel. 
260 |a Cambridge ;  |a New York :  |b Cambridge University Press,  |c ©2012. 
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490 1 |a Studies in macroeconomic history 
505 0 |a The 2008-2009 recession : market or policy maker failure? -- Recessions: financial instability or monetary mismanagement? -- The great contraction: 1929-1933 -- Monetary policy and bank runs in the great depression -- Vigorous recovery and relapse: 1933-1939 -- Interwar international monetary experiments -- Identifying the shocks that cause recessions -- From stop-go to the great moderation -- Controlling bank risk taking: market or regulatory discipline? -- The housing crash : subsidizing housing and bank risk taking -- Bubble trouble: easy money in 2003 and 2004? What caused the great recession of 2008-2009? What caused the great leverage collapse? -- The distinctions between credit, monetary, and liquidity policy -- Fed market interventions : the experiment with credit policy -- Evaluating policy : what are the relevant counterfactuals -- The business cycle: market instability or monetary instability? Why is learning so hard? How should society regulate capitalism: rules versus discretion. 
520 |a "Since publication of Robert L. Hetzel's The Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. That consensus emphasized efficient markets, rational expectations, and the efficacy of the price system in assuring macroeconomic stability. The 2008-2009 recession not only destroyed the professional consensus about the kinds of models required to understand cyclical fluctuations but also revived the credit-cycle or asset-bubble explanations of recession that dominated thinking in the 19th and first half of the 20th century. These "market-disorder" views emphasize excessive risk taking in financial markets and the need for government regulation. The present book argues for the alternative "monetary-disorder" view of recessions. A review of cyclical instability over the last two centuries places the 2008-2009 recession in the monetary-disorder tradition, which focuses on the monetary instability created by central banks rather than on a boom-bust cycle in financial markets."--Publisher's website. 
504 |a Includes bibliographical references and index. 
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650 0 |a Recessions  |z United States. 
650 0 |a Monetary policy  |z United States. 
650 0 |a Business cycles  |z United States. 
651 0 |a United States  |x Economic policy  |y 2009- 
651 0 |a United States  |x Economic conditions  |y 2009- 
650 6 |a Récessions  |z États-Unis. 
650 6 |a Politique monétaire  |z États-Unis. 
650 6 |a Cycles économiques  |z États-Unis. 
651 6 |a États-Unis  |x Conditions économiques  |y 2009- 
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650 7 |a BUSINESS & ECONOMICS  |x Economic History.  |2 bisacsh 
650 7 |a BUSINESS & ECONOMICS  |x Economics  |x Comparative.  |2 bisacsh 
650 7 |a POLITICAL SCIENCE  |x Economic Conditions.  |2 bisacsh 
650 7 |a Business cycles.  |2 fast  |0 (OCoLC)fst00842457 
650 7 |a Economic history.  |2 fast  |0 (OCoLC)fst00901974 
650 7 |a Economic policy.  |2 fast  |0 (OCoLC)fst00902025 
650 7 |a Monetary policy.  |2 fast  |0 (OCoLC)fst01025230 
650 7 |a Recessions.  |2 fast  |0 (OCoLC)fst01091358 
651 7 |a United States.  |2 fast  |0 (OCoLC)fst01204155 
650 7 |a Wirtschaftliche Lage  |2 gnd 
650 7 |a Rezession  |2 gnd 
650 7 |a Stabilitätspolitik  |2 gnd 
650 7 |a Geldpolitik  |2 gnd 
650 7 |a Recession.  |2 sao 
650 7 |a Penningpolitik.  |2 sao 
651 7 |a Förenta staterna.  |2 sao 
648 7 |a Since 2009  |2 fast 
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