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Today's global economy, with most developed nations experiencing very low inflation, seems a world apart from the "Great Inflation" that spanned the late 1960's to early 1980's. Yet, in this book, Brigitte Granville makes the case that monetary economists and policymakers need to keep the lessons learned during that period very much in mind, lest we return to them by making the same mistakes we made in the past. Granville details the advances in macroeconomic thinking that gave rise to the "Great Moderation"--a period of stable inflation and economic growth, which lasted from the mid-1980's through the most recent financial crisis. She makes the case that the central banks' management of monetary policy--hinging on expectations and credibility--brought about this period of stability, and traces the roots of this success back to the eighteenth-century foundations of modern monetary thought. Tackling fundamental questions such as the causes of inflation and its relation to unemployment and growth, the natural rate of inflation hypothesis, the fiscal theory of the price level, and the proper goals of central banks, the book aims above all to demonstrate the dangers of forgetting the role of credibility in establishing sound monetary policy. With the lessons of the past firmly in mind, Granville presents stimulating ideas and proposals about inflation-targeting principles, which provide tools for present-day monetary authorities dealing with the forces of globalization, mercantilism, and reserve accumulation.

Money. Monetary policy --- Inflation (finance) --- Monetary policy --- Inflation (Finance) --- 333.841 --- 333.846.2 --- AA / International- internationaal --- 332 --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Finance --- Natural rate of unemployment --- Inflatie. --- Verband tussen de geld-, bank- en kredietpolitiek en de prijzen. --- Business & Economics --- Money --- Monetary policy. --- E-books --- Inflatie --- Verband tussen de geld-, bank- en kredietpolitiek en de prijzen --- Brazil. --- Great Moderation. --- Russia. --- Sargent and Wallace. --- capacity utilization. --- central bank. --- competition. --- economic growth. --- economic theory. --- economists. --- euro. --- exchange rate. --- external rule. --- financial crisis. --- financial integration. --- financial stability. --- fiscal policy. --- global economy. --- globalization. --- income inequality. --- inflation control. --- inflation. --- international trade. --- macroeconomic policy. --- macroeconomics. --- monetary policy. --- monetary stability. --- monetary thought. --- poverty. --- price level. --- price stability. --- public debt. --- recession. --- social welfare. --- solvency. --- stable inflation. --- unemployment. --- world economy.

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"A hundred years ago, many theorists believed--just as they did at the beginning of our twenty-first century--that the world had reached a state of economic perfection, a never before seen human interdependence that would lead to universal growth and prosperity. Then, as now, the German mark was one of the most trusted currencies in the world. Yet the early years of the Weimar Republic in Germany witnessed the most calamitous meltdown of a developed economy in modern times. The Downfall of Money will tell anew the dramatic story of the hyperinflation that saw the mark--worth 4.2 to the dollar in 1914--plunge until it traded at over 4 trillion to 1 by the autumn of 1923. The story of the Weimar Republic's financial crisis clearly resonates today, when the world is again anxious about what money is, what it means, and how we can judge if its value is true. It is a trajectory of events uncomfortably relevant for our own uncertain world. Frederick Taylor--one of the leading historians of Germany writing today-- explores the causes of the crisis and what the collapse meant to ordinary people and traces its connection to the dark decades that followed. Drawing on a wide range of sources and accessibly presenting vast amounts of research, The Downfall of Money is a timely and chilling exploration of a haunting episode in history"--

Financial crises --- Inflation (Finance) --- 332.494 --- 321.92 --- 331.156 --- 331.20 --- 333.841 --- DE / Germany - Duitsland - Allemagne --- Finance --- Natural rate of unemployment --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- History --- Middenstand. Onafhankelijke werknemers --- Geldwezen van 1914 tot 1945 --- Sociale geschiedenis: algemeenheden --- Inflatie --- Germany --- Weimar Republic, Germany, 1918-1933 --- Economic conditions --- Politics and government --- Social conditions