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Defensive Expectations

Defensive Expectations

944 kr.

944 kr.

På lager

Fre., 13 juni - tors., 19 juni


Sikker betaling

14 dages åbent køb


Sælges og leveres af

Adlibris

Produktbeskrivelse

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.

Varenr.

941e5cdd-5c6a-4598-a98a-3517af4e3043

Funktioner

Type

Papirbog

Sprogversion

Engelsk

Bogomslagstype

Indbundet

Antal sider

196 Sider

Skrevet af

Liviu Voinea

Illustrator

21 b/w illustrations

Udgiver

Palgrave Macmillan Cham

Udgivelsesdato

10/12/2020

Versionstype

Første udgave

International standard bookingnummer (ISBN)

9783030550448

Defensive Expectations

944 kr.

944 kr.

På lager

Fre., 13 juni - tors., 19 juni


Sikker betaling

14 dages åbent køb


Sælges og leveres af

Adlibris