The conquest of American inflation / Thomas J. Sargent.

By: Sargent, Thomas J Material type: Text

TextLanguage: English Publication details: Princeton, N.J. : Princeton University Press, c1999. Description: xiv, 148 p. : ill. ; 24 cmISBN: 0691004145 (alk. paper); 9780691004143Subject(s): Inflation (Finance) -- United StatesDDC classification: 332.410973 LOC classification: HG540 | .S27 1999Online resources: Table of contents | Publisher description | WorldCat details

Contents:

TOC The rise and fall of U.S. inflation -- Ignoring the Lucas critique -- The credibility problem -- Credible government policies -- Adaptive expectations (1950's) -- Optimal misspecified beliefs -- Self-confirming equilibria -- Adaptive expectations (1990's) -- Econometric policy evaluation -- Triumph or vindication?

Summary: In The Conquest of American Inflation, Thomas J. Sargent presents an analysis of the rise and fall of U.S. inflation after 1960. He examines two broad explanations for the behavior of inflation and unemployment in this period: the natural rate hypothesis joined to the Lucas critique and a more traditional econometric policy evaluation modified to include adaptive expectations and learning. His purpose is not only to determine which is the better account, but also to codify for the benefit of the next generation the economic forces that cause inflation. Providing an original methodological link between theoretical and policy economics, this book will engender much debate and become an indispensable text for academics, graduate students, and professional economists.

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Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode	Item holds
Text	Dr. S. R. Lasker Library, EWU Reserve Section	Non-fiction	332.410973 SAC 1999 (Browse shelf(Opens below))	Not For Loan		27326

Total holds: 0

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Includes bibliographical references (p. [137]-144) and indexes.

TOC The rise and fall of U.S. inflation --
Ignoring the Lucas critique --
The credibility problem --
Credible government policies --
Adaptive expectations (1950's) --
Optimal misspecified beliefs --
Self-confirming equilibria --
Adaptive expectations (1990's) --
Econometric policy evaluation --
Triumph or vindication?

In The Conquest of American Inflation, Thomas J. Sargent presents an analysis of the rise and fall of U.S. inflation after 1960. He examines two broad explanations for the behavior of inflation and unemployment in this period: the natural rate hypothesis joined to the Lucas critique and a more traditional econometric policy evaluation modified to include adaptive expectations and learning. His purpose is not only to determine which is the better account, but also to codify for the benefit of the next generation the economic forces that cause inflation. Providing an original methodological link between theoretical and policy economics, this book will engender much debate and become an indispensable text for academics, graduate students, and professional economists.

Economics

Sagar Shahanawaz

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