Major recessions : Britain and the world, 1920-1995 / / Christopher Dow

• Autore: Dow J. C. R (J. Christopher R.)
• Pubblicazione: Oxford ; ; New York, : Oxford University Press, 1998
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (490 p.)
• Disciplina: 338.5/42
• Soggetto topico: Recessions; Economic history - 20th century; Recessions - Great Britain
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di bibliografia: Includes bibliographical references (p. [447]-462) and indexes.
• Nota di contenuto: Intro -- Preface -- Contents -- List of Figures -- List of Tables -- 1 Introduction -- 1.1 The aims and methods of the study -- 1.2 The plan and character of the book -- PART I: Prior Assumptions and Methodological Preliminaries -- 2 The Facts to be Explained -- 2.1 Conspectus of the whole period, 1920-95 -- 2.2 The measurement of trends and fluctuations -- 2.3 Comparison of the three main phases since 1920 in the UK and other countries -- 2.4 Profits, factor shares, and real wages -- 3 The Causal Structure of the Economy -- 3.1 The main routes of causation in the economy -- 3.2 How growing supply creates growing demand -- 3.3 The explanation of unemployment -- 3.4 Implications for later chapters -- Appendix A3.1 The theoretical debate on the features of the economic system that allow the possibility of unemployment -- Appendix A3.2 The High Real Wage theory of unemployment -- 4 Supply and Demand Influences on the Rate of Growth -- 4.1 Some main facts about rates of growth -- 4.2 Explanations of variations in the rate of growth -- 4.3 Conclusions about rates of growth: supply versus demand factors as determinents of output growth -- Appendix A4.1 Notes on growth accounting, and two other studies of growth -- Appendix A4.2 Estimates of the growth of six countries' output and exports of manufactures, 1870-1970 -- 5 Shocks and Responses in Major Fluctuations -- 5.1 The economy's response to shocks -- 5.2 Indicators of demand shocks and tests of their ability to explain fluctuations -- 5.3 The causation of fluctuations: a first survey -- Appendix A5 New estimates of fiscal policy impact -- PART II: Case Studies of Five Major Recessions -- 6 The Two Interwar Recessions -- 6.1 Overview of the interwar period -- 6.2 The 1920-1 recession and its aftermath -- 6.3 The Great Depression: the world and the United States, 1929-33. ; 6.4 The world depression and the UK depression -- 6.5 Economic recovery in Britain, 1932-40 -- 6.6 Theoretical conclusions -- Appendix A6.1 A critique of Friedman and Schwartz's A Monetary History of the United States -- Appendix A6.2 The gold standard as a cause of the Great Depression: a critique of Eichengreen's Golden Fetters -- Appendix A6.3 A model of the international transmission of the US Depression -- Appendix A6.4 List of statistical sources -- 7 The Long Interval without Major Recession, 1945-73 -- 7.1 Overview of the period -- 7.2 Reasons for faster growth and high demand -- 7.3 Minor fluctuations of the period -- 7.4 Was the Golden Age doomed anyway? -- 7.5 The behaviour of the economy: conclusions from the 1945-73 experience -- 8 The Two OPEC Recessions (1973-5 and 1979-82) -- 8.1 Background issues: political developments and the oil price shocks -- 8.2 A demand-side explanation, of the OPEC recessions -- 8.3 Assessment of the 1970s experience -- Appendix A8 The inflationary surges of the 1970s -- 9 The Credit Expansion of the Late 1980s and the Recession of the Early 1990s -- 9.1 Summary of thesis: the interrelation between real and financial disturbances -- 9.2 Boom and recession in other countries -- 9.3 Boom and recession in the UK -- 9.4 What the 1989 recession contributes to our ideas about the behaviour of the economy -- 9.5 Postscript: the resumption of growth, 1992-5 -- PART III: Conclusions -- 10 The Theoretical Model: The Economy's Behaviour to Major Fluctuations -- 10.1 A picture of an economy lacking some elements of self-adjustment -- 10.2 The nature of major recessions -- 10.3 The shape of major recessions and the role of expectations (or confidence) -- Appendix A10 A formal account of interactions during recessions -- 11 The Causation of Major Recessions: Summary and Discussion of Empirical Findings. ; 11.1 Estimation of constant-employment growth rates: the loss resulting from major recessions -- 11.2 Explanation of major recessions in terms of exogenous demand shocks -- 11.3 Case studies of the major recessions: summary -- 11.4 The long period without major recessions (1945-73): possible lessons -- 11.5 Concluding remarks on public debt, and on the predictability of major recessions -- Appendix A11 The National Debt since World War II -- 12 Are Recurrent Major Recessions Inevitable? -- 12.1 Background issues: theory -- politics -- inflation -- 12.2 The traditional tools of macroeconomic policy -- 12.3 Possible policies to counter major recessions -- 12.4 The chances of avoiding major recessions in future -- References -- General Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- U -- V -- W -- Author Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- Q -- R -- S -- T -- V -- W -- Y.
• Sommario/riassunto: This book concentrates on the five biggest recessions in the twentieth century. It focuses on the UK, but makes numerous comparisons to recessions in other countries. Two major recessions are identified in the interwar period; three more in the years 1973-1995. The main conclusion reached is that major recessions reflect abrupt fallings off in demand not supply, and can be explained by identifiable demand shocks. The concluding chapter offers advice on how to avoidfuture severe recessions: a combination of prudent policy-making beforehand and special measures in the downturn and recovery.
• Titolo autorizzato: Major recessions
• ISBN: 0-19-152170-1
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910816515003321
• Lo trovi qui: Univ. Federico II