"Since publication of Robert L. Hetzel's The Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. That consensus emphasized efficient markets, rational expectations, and the e…
Argues that the 2008-2009 recession needs to be understood as deriving from mistakes of central banks and regulators, not financial markets.
"Since publication of Robert L. Hetzel's The Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. That consensus emphasized efficient markets, rational expectations, and the e…
"Since publication of Robert L. Hetzel's The Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. That consensus emphasized efficient markets, rational expectations, and the e…
"Since publication of Robert L. Hetzel's The Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. That consensus emphasized efficient markets, rational expectations, and the e…
Considering case studies of recessions and depressions in the United States and internationally, this book presents the empirical data of business cycles and the theories that economists have developed to explain and prevent them. --
Despite more than two centuries of debate, a definitive explanation of the causes of economic cycles still does not exist. Economists, politicians, and policymakers have argued many well-known theories as to why these peaks and slumps occur, and cyclical recessions and depressio…
"Presents the empirical data of business cycles and the theories that economists have developed to explain and prevent them, and considers case studies of recessions and depressions in the United States and internationally." "Please see the attached txt file."
