A01=Max Gillman
A01=Professor Max Gillman
Age Group_Uncategorized
Age Group_Uncategorized
Author_Max Gillman
Author_Professor Max Gillman
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Category1=Non-Fiction
Category=KCA
Category=KCB
central banks
COP=United Kingdom
deflation
Delivery_Delivery within 10-20 working days
eq_bestseller
eq_business-finance-law
eq_isMigrated=2
eq_nobargain
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Federal Reserve
financial crises
financial history
Fisher
Hayek
interest rates
international finance
investment
Keynes
Language_English
monetary policy
PA=Available
Price_€50 to €100
PS=Active
quantitative easing
softlaunch
stagflation
Product details
- ISBN 9781788212366
- Dimensions: 156 x 234mm
- Publication Date: 08 Dec 2022
- Publisher: Edinburgh University Press
- Publication City/Country: GB
- Product Form: Hardback
- Language: English
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Inflation, hyperinflation and deflation have all had profound effects on societies, especially during periods of war and crisis. Today’s approach to managing inflation has been shaped by these episodes and informed by debates between different schools of economic thought from Fisher and Hayek to Keynes and the monetarists. This accessible and authoritative overview explores the role of inflation in the modern economy, from its place in monetary policy and in money supply to its effects on everyday business.
In a compelling analysis, the book shows that since the financial crisis in 2008–09, inflation rates have remained persistently higher than interest rates worldwide, which is the inverse of our basic understanding of how inflation normally affects markets. The result of this inversion has been that the effective real return on investment has become negative, and consequently, the investment rate has dropped across western economies. At a time when inflation once again challenges the world’s leading economies, the book offers valuable insight into the monetary policy of central banks.
Max Gillman is Hayek Professor of Economic History at the University of Missouri–St Louis. His books include Advanced Modern Macroeconomics (2011) and Inflation Theory in Economics (2009). He has also edited Collected Papers on Monetary Theory by Robert E. Lucas, Jr. (2011).
