Business : Economic Conditions

While there is ample evidence that high inflation is harmful, little is known about how best to reduce inflation or how far it should be reduced. In this volume, sixteen distinguished economists analyze the appropriateness of low inflation as a goal for monetary policy and discuss possible strategies for reducing inflation. Section I discusses the consequences of inflation. These papers analyze inflation's impact on the tax system, labor market flexibility, equilibrium unemployment, and the public's sense of well-being. Section II considers the obstacles facing central bankers in achieving low inflation. These papers study the precision of estimates of equilibrium unemployment, the sources of the high inflation of the 1970s, and the use of non-traditional indicators in policy formation. The papers in section III consider how institutions can be designed to promote successful monetary policy, and the importance of institutions to the performance of policy in the United States, Germany, and other countries. This timely volume should be read by anyone who studies or conducts monetary policy. more...

Price: $75.00

William Sites proposes a new perspective on politics, globalization, and the city through the concept of primitive globalization, identifying a pattern of reactive politics that facilitates a damaging type of international integration. Sites examines the more...

Price: $67.50

The mortgage meltdown: what went wrong and how do we fix it?. Owning a home can bestow a sense of security and independence. But today, in a cruel twist, many Americans now regard their homes as a source of worry and dashed expectations. How did everything go haywire? And what can we do about it now?. In The Rise and Fall of the U.S. Mortgage and Credit Markets, renowned finance expert James Barth offers a comprehensive examination of the mortgage meltdown. Together with a team of economists at the Milken Institute, he explores the shock waves that have rippled through the entire financial sector and the real economy. Deploying an incredibly detailed and extensive set of data, the book offers in-depth analysis of the mortgage meltdown and the resulting worldwide financial crisis. This authoritative volume explores what went wrong in every critical area, including securitization, loan origination practices, regulation and supervision, Fannie Mae and Freddie Mac, leverage and accounting practices, and of course, the rating agencies. The authors explain the steps the government has taken to address the crisis thus far, arguing that we have yet to address the larger issues.: Offers a comprehensive examination of the mortgage market meltdown and its reverberations throughout the financial sector and the real economy; Explores several important issues that policymakers must address in any future reshaping of financial market regulations; Addresses how we can begin to move forward and prevent similar crises from shaking the foundations of our financial system. The Rise and Fall of the U.S. Mortgage and Credit Markets analyzes the factors that should drive reform and explores the issues that policymakers must confront in any future reshaping of financial market regulations. more...

Price: $60.00

In the 1980s and 1990s successive United Kingdom governments enacted a series of reforms to establish a more market-oriented economy, closer to the American model and further away from its Western European competitors. Today, the United Kingdom is one of the least regulated economies in the world, marked by transformed welfare and industrial relations systems and broad privatization. Virtually every industry and government program has been affected by the reforms, from hospitals and schools to labor unions and jobless benefit programs. Seeking a Premier Economy focuses on the labor and product market reforms that directly impacted productivity, employment, and inequality. The questions asked are provocative: How did the United Kingdom manage to stave off falling earnings for lower paid workers? What role did the reforms play in rising income inequality and trends in poverty? At the same time, what reforms also contributed to reduced unemployment and the accelerated growth of real wages? The comparative microeconomic approach of this book yields the most credible evaluation possible, focusing on closely associated outcomes of particular reforms for individuals, firms, and sectors. more...

Price: $95.00

This significant new book analyses fundamental changes in society-nature interaction: the socioeconomic use of materials, energy and land. The volume presents a number of case studies addressing transitions from an agrarian to an industrial socioecological regime, analysed within the materials and energy flow accounting (MEFA) framework. It is argued that by concentrating on the biophysical dimensions of change in the course of industrialization, social development issues can be explicitly linked to changes in the natural environment. From the historical transition in Europe, to current transitions in developing countries, the book offers a broad and comprehensive analysis of transition processes across scales, from local to national. The comparison of historical and current assessments allows a theory of the underlying patterns of the agrarian-industrial transition to emerge. On this basis, future trends and possible pathways towards (or indeed further departures from) sustainability are discussed. more...

Price: $115.00