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| 008 | 220516s2021 ilua b 001 0 eng | |
| 010 | ▼a 2020056573 | |
| 020 | ▼a 9780226773681 ▼q (cloth) | |
| 020 | ▼z 9780226773711 ▼q (ebook) | |
| 035 | ▼a (KERIS)REF000019474716 | |
| 040 | ▼a ICU/DLC ▼b eng ▼e rda ▼c DLC ▼d 211009 | |
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| 050 | 0 0 | ▼a HG540 ▼b .S94 2021 |
| 082 | 0 0 | ▼a 339.5/30973 ▼2 23 |
| 084 | ▼a 339.530973 ▼2 DDCK | |
| 090 | ▼a 339.530973 ▼b S956m | |
| 100 | 1 | ▼a Sumner, Scott, ▼d 1955- ▼e author. |
| 245 | 1 4 | ▼a The money illusion : ▼b market monetarism, the Great Recession, and the future of monetary policy / ▼c Scott Sumner. |
| 260 | ▼a Chicago : ▼b University of Chicago Press, ▼c 2021. | |
| 264 | 1 | ▼a Chicago : ▼b University of Chicago Press, ▼c 2021. |
| 300 | ▼a ix, 404 p. : ▼b ill. ; ▼c 24 cm. | |
| 336 | ▼a text ▼b txt ▼2 rdacontent | |
| 337 | ▼a unmediated ▼b n ▼2 rdamedia | |
| 338 | ▼a volume ▼b nc ▼2 rdacarrier | |
| 504 | ▼a Includes bibliographical references and index. | |
| 505 | 0 | ▼a Introduction: The real problem was nominal -- The value of money. Cognitive illusions in economics ; The value of money and money illusion ; What determines the value of money? ; The quantity theory of money and the Great Inflation ; Money at the extremes: hyperinflation and deflation ; It's (almost) all about expectations -- The dance of the dollar. The Great Depression and the AS-AD model ; One derivative beyond Hume ; Rational expectations and efficient markets -- Never reason from a price change. The musical-chairs model ; What is monetary policy? ; Nominal and real exchange rates -- How to think about macroeconomics. The path to market monetarism ; I see dead patterns ; Good economists don't forecast, they infer market forecasts ; The secret history of monetary policy -- The Great Recession. Fed policy in 2008: a case of self-induced paralysis? ; A confession of contractionary effect ; Schadenfreude on the Titanic ; Alternative explanations of the Great Recession -- What does it all mean? Policy implications of market monetarism ; Why should you believe in market monetarism. |
| 520 | ▼a "The Money Illusion is George Mason University economist Scott Sumner's end-to-end case for an evolved, less discretionary approach to monetary policy, which he and his cohort have termed "market monetarism." The nominal use of "market" here is telling: Sumner argues that public confidence in central banking institutions like the Fed is central, and as critical as forecasting, to ensuring the health and stability of the economy. To achieve it, he makes a case that monetary policy should be indexed against a pre-set growth trajectory (in the form of a steadily increasing nominal GDP), not regulated ad-hoc through interpretations of short-term market changes. As Sumner tells it, the Fed is simultaneously responsible for the Great Recession and our best safeguard against having it happen again. Part of that is a responsibility to chart a course, and to do so with transparency"-- ▼c Provided by publisher. | |
| 650 | 0 | ▼a Monetary policy ▼z United States. |
| 650 | 0 | ▼a Recessions ▼x Effect of monetary policy on ▼z United States. |
| 945 | ▼a ITMT |
Holdings Information
| No. | Location | Call Number | Accession No. | Availability | Due Date | Make a Reservation | Service |
|---|---|---|---|---|---|---|---|
| No. 1 | Location Main Library/Western Books/ | Call Number 339.530973 S956m | Accession No. 111864641 | Availability In loan | Due Date 2022-09-13 | Make a Reservation Available for Reserve | Service |
Contents information
Table of Contents
Preface Introduction: The Real Problem Was Nominal Part I. The Value of Money Chapter 1. Cognitive Illusions in Economics Chapter 2. The Value of Money and Money Illusion Chapter 3. What Determines the Value of Money? Chapter 4. The Quantity Theory of Money and the Great Inflation Chapter 5. Money at the Extremes: Hyperinflation and Deflation Chapter 6. It''s (Almost) All about Expectations Part II. The Dance of the Dollar Chapter 7. The Great Depression and the AS-AD Model Chapter 8. One Derivative beyond Hume Chapter 9. Rational Expectations and Efficient Markets Part III. Never Reason from a Price Change Chapter 10. The Musical-Chairs Model Chapter 11. What Is Monetary Policy? Chapter 12. Nominal and Real Exchange Rates Part IV. How to Think about Macroeconomics Chapter 13. The Path to Market Monetarism Chapter 14. I See Dead Patterns Chapter 15. Good Economists Don''t Forecast, They Infer Market Forecasts Chapter 16. The Secret History of Monetary Policy Part V. The Great Recession Chapter 17. Fed Policy in 2008: A Case of Self-Induced Paralysis? Chapter 18. A Confession of Contractionary Effect Chapter 19. Schadenfreude on the Titanic Chapter 20. Alternative Explanations of the Great Recession Part VI. What Does It All Mean? Chapter 21. Policy Implications of Market Monetarism Chapter 22. Why Should You Believe in Market Monetarism? Acknowledgments Notes Bibliography Index