Congdon (ed ) money in the great recession; did a crash in money growth cause the global slump (2017)

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Congdon (ed )   money in the great recession; did a crash in money growth cause the global slump (2017)

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... Depression was viewed as a black mark against capitalism, and particularly against the Wall Street financial institutions that were alleged to have ramped up share prices to unsustainable levels in 1929... of the last 50 years and their impact on global demand growth remains profound It is immediately clear that a decline in rate of change in the quantity of money must have had a role in the Great. .. of bank regulation – particularly the demands for extra bank capital and the raising of capital/asset ratios from October 2008 – as badly mistimed and inappropriate, and as the principal influence

Ngày đăng: 15/09/2018, 09:37

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  • Contents

  • Contributors

  • Foreword

  • Introduction: the quantity theory of money – why another restatement is needed, and why it matters to the debates on the Great R

  • PART 1 What Were the Causes of the Great Recession?

    • Introduction to Part I

    • 1. What were the causes of the Great Recession? The mainstream approach vs. the monetary interpretation*

    • 2. The debate over “quantitative easing” in the UK’s Great Recession and afterwards

    • 3. UK broad money growth and nominal spending during the Great Recession: an analysis of the money creation process and the role

    • 4. Have central banks forgotten about money? The case of the European Central Bank, 1999–2014

    • PART 2 The Financial System in the Great Recession: Culprit or Victim?

      • Introduction to Part II

      • 5. The impact of the New Regulatory Wisdom on banking, credit and money: good or bad?

      • 6. Why has monetary policy not worked as expected? Some interactions between financial regulation, credit and money

      • 7. The Basel rules and the banking system: an American perspective*

      • PART 3 How Should the Great Recession be Viewed in Monetary Thought and History?

        • Introduction to Part III

        • 8. Monetary policy, asset prices and financial institutions*

        • 9. How would Keynes have analysed the Great Recession of 2008 and 2009?

        • 10. Why Friedman and Schwartz’s interpretation of the Great Depression still matters: reassessing the thesis of their 1963 Monet

        • Index

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