Unemployment and Inflation in Economic Crises [electronic resource] /by Michael Carlberg.
Contributor(s): SpringerLink (Online service).Material type: BookPublisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2012Description: XII, 284 p. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783642280184.Subject(s): Macroeconomics | International economics | Labor economics | Economics | Macroeconomics/Monetary Economics//Financial Economics | International Economics | Labor EconomicsDDC classification: 339 Online resources: Click Here-Springer eBooks (In-Campus Access) | Click Here-Springer eBooks (Off-Campus Access)
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Monetary Interaction between Europe and America -- Monetary Cooperation between Europe and America -- Fiscal Interaction between Europe and America -- Fiscal Coopearation between Europe and America -- Monetary and Fiscal Interaction between Europe and America: Cold-Turkey Policies -- Monetary and Fiscal Interaction between Europe and America: Gradualist Policies -- Monetary and Fiscal Coopearation between Europe and America -- Result -- The Current Research Project.
This book studies unemployment and inflation in economic crises, first considering the scenario of a demand shock in Europe. In that case, monetary and fiscal interaction would cause widespread oscillations in European unemployment and European inflation. And what is more, there would be equally far-reaching fluctuations in the European money supply and European government purchases. These monetary and fiscal interactions would have no effects on the American economy. Second, it examines the scenario of a supply shock in Europe, in which monetary and fiscal interactions would have no effects on European unemployment or European inflation; there would also be an explosion of European government purchases and an implosion of the European money supply. Monetary and fiscal interactions would produce uniform oscillations in American unemployment and American inflation. Lastly, we would also see an implosion of both the American money supply and American government purchases.