ISBN:
9783031527401
Language:
English
Pages:
1 Online-Ressource (XVII, 188 p. 51 illus., 5 illus. in color.)
Series Statement:
Financial and Monetary Policy Studies 57
Uniform Title:
Inflation: Lehren für heute aus Krisen von gestern
Parallel Title:
Erscheint auch als
Parallel Title:
Erscheint auch als
Parallel Title:
Erscheint auch als
Keywords:
Macroeconomics.
;
Economic history.
;
Economic policy.
;
Labor economics.
;
Inflation
;
productivity oriented wage development
;
Monetary policy
;
Income policy
;
Macroeconomics
;
Wage bargaining systems
;
Inflationary waves
;
wage policy
;
inflationary price shocks
;
German hyperinflation
;
public debt
;
GDP growth
;
Fiscal policy
;
Deflation
;
Great Depression
;
Central bank policy
;
Financial crisis
;
Euro crisis
;
Covid-19 pandemic
;
Stagflation
Abstract:
Chapter 1. introduction -- Chapter 2. The German Hyperinflation of 1923 -- Chapter 3. Macroeconomic Developments from the End of theof the 1960s to the early 1980s -- Chapter 4. The Inflation Wave from the Late 1960s onward -- Chapter 5. Comparison of developments in the various countries -- Chapter 6. The economic situation in the four countries after the price level shock 2021.-Chapter 7. Conclusions and Recommendations -- Chapter 8. Theoretical Explanations of Price Level Changes.
Abstract:
In light of the resurgence of inflation in developed industrialised countries following a period of inordinately low inflation, this book analyses the causes and devastating effects of inflation by drawing lessons from the past. Focusing on the German hyperinflation of the 1920s and the inflationary waves of the 1970s, it examines the resulting economic crises and their influence on the subsequent periods of social and political turmoil, namely the fascism of the 1930s and the neoliberal revolution of the 1980s. Featuring five detailed case studies on inflationary waves in various countries in the 1970s, the book identifies economic policy errors of the past, seeking to prevent their recurrence. Offering empirical and theoretical insights alike, the authors present strategies for effectively combating inflation and deflation. In turn, the book assesses the complex ties between wage increases, income distribution, and price changes, ultimately providing valuable recommendations on how wage policy can be used to stabilise price level increases at a low level in a world characterised by diverse and extreme economic shocks. “The Resurgence of Inflation” fosters a vital discourse on wage and price dynamics, economic development and the role of trade unions, making it an essential read for policymakers, economists, and anyone seeking a deeper understanding of today’s economic challenges.
Note:
Translation from the German language edition: "Inflation: Lehren für heute aus Krisen von gestern" by Michael Heine and Hansjörg Herr, © The authors 2023. Published by Metropolis-Verlag
DOI:
10.1007/978-3-031-52740-1
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