Overview

No issue is more fundamental in contemporary macroeconomics than identifying the causes of the recent Great Recession. The book’s argument echoes that on the causes of the Great Depression made by Milton Friedman and Anna Schwartz in their classic book A Monetary History of the United States.

Full Product Details

Author:   Tim Congdon
Publisher:   Edward Elgar Publishing Ltd
Imprint:   Edward Elgar Publishing Ltd
ISBN:  

9781784717827

ISBN 10:   1784717827
Pages:   288
Publication Date:   30 June 2017
Audience:   College/higher education ,  Professional and scholarly ,  Postgraduate, Research & Scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
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Table of Contents

Contents: PART I What were the causes of the Great Recession? Preface to Part I Tim Congdon 1. What were the causes of the Great Recession?: the mainstream approach vs. the monetary interpretation Tim Congdon 2. The debate over `quantitative easing' in the UK's Great Recession and afterwards Tim Congdon 3. UK broad money growth and nominal spending during the Great Recession: An analysis of the money creation process and the role of money demand Ryland Thomas 4. Have central banks forgotten about money?: The case of the European Central Bank, 1999 - 2014 Juan E. Castaneda and Tim Congdon PART II The financial system in the Great Recession: culprit or victim? Preface to Part II Tim Congdon 5. The impact of the New Regulatory Wisdom on banking, credit and money: good or bad? Sir Adam Ridley 6. Why has monetary policy not worked as expected?: Some interactions between financial regulation, credit and money Charles Goodhart 7. The Basle rules and the banking system: an American perspective Steve Hanke PART III How should the Great Recession be viewed in monetary thought and history? Preface to Part III Tim Congdon 8. Monetary policy, asset prices and financial institutions? Philip Booth 9. How would Keynes have analysed the Great Recession of 2008 and 2009? Robert Skidelsky 10. Why Friedman and Schwartz's interpretation of the Great Depression still matters: reassessing the thesis of their 1963 Monetary History David Laidler Index

Reviews

'Tim Congdon has brought together a thorough coverage of the analysis, by leading academic and market economists, of the causes of the recent Great Recession. The focus is the key roles that money and financial regulation played in the recession and continue to play in the weak recovery. This is an important book that policymakers, economists, and others should read.' -- Forrest Capie, Cass Business School, City University London, UK

Author Information

Edited by Tim Congdon, CBE, Chairman, Institute of International Monetary Research and Professor, University of Buckingham, UK

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