Conquest of American Inflation by Thomas J. Sargent
Look inside with Google Book Preview
Conquest of American Inflation
By Thomas J. Sargent

The Conquest of American Inflation

By (author) See other recent books by Thomas J. Sargent
Format: Paperback

Normal Price: $97.00
Your Price: $87.30 AUD, inc. GST
Shipping: $7.95 per order
You Save: $9.70! (10% off normal price)
Plus...earn $4.36 in Boomerang Bucks
Availability: Available Available to Backorder, No Due Date for Supply



Conquest of American Inflation by Thomas J. Sargent

Book Description

In the past fifteen years, inflation has been conquered by many advanced countries. History reveals, however, that it has been conquered before and returned. In The Conquest of American Inflation, Thomas J. Sargent presents a groundbreaking 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. Sargent begins with an explanation of how American policymakers increased inflation in the early 1960s by following erroneous assumptions about the exploitability of the Phillips curve--the inverse relationship between inflation and unemployment. In subsequent chapters, he connects a sequence of ideas--self-confirming equilibria, least-squares and other adaptive or recursive learning algorithms, convergence of least-squares learners with self-confirming equilibria, and recurrent dynamics along escape routes from self-confirming equilibria. Sargent synthesizes results from macroeconomics, game theory, control theory, and other fields to extend both adaptive expectations and rational expectations theory, and he compellingly describes postwar inflation in terms of drifting coefficients. He interprets his results in favor of adaptive expectations as the relevant mechanism affecting inflation policy. 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.

Buy Conquest of American Inflation book by Thomas J. Sargent from Australia's Online Bookstore, Boomerang Books.


Book Details

ISBN: 9780691090122
ISBN-10: 0691090122
Format: Paperback
(229mm x 152mm x 9mm)
Pages: 168
Imprint: Princeton University Press
Publisher: Princeton University Press
Publish Date: 12-Nov-2001
Country of Publication: United States

Other Editions...


Books By Author Thomas J. Sargent

Macroeconomics at the Service of Public Policy by Thomas J. Sargent Macroeconomics at the Service of Public Policy, Paperback (October 2015)

This book uses state of the art models from the frontier of macroeconomics to answer key questions about how the economy functions and how policy should be conducted. It includes contributions on the market as a bearer of risk, the European Debt crisis, and possible stagflation of the US economy.

Recursive Models of Dynamic Linear Economies by Thomas J. Sargent Recursive Models of Dynamic Linear Economies, Hardback (January 2014)

Demonstrates the analytical benefits acquired when an analysis with a representative consumer is possible, they also characterize the restrictiveness of assumptions under which a representative household justifies a purely aggregative analysis.

» View all books by Thomas J. Sargent

Reviews

» Have you read this book? We'd like to know what you think about it - write a review about Conquest of American Inflation book by Thomas J. Sargent and you'll earn 50c in Boomerang Bucks loyalty dollars (you must be a member - it's free to sign up!)

Write a book review


Boomerang Bucks close

For every $20 you spend on books, you will receive $1 in Boomerang Bucks loyalty dollars. You can use your Boomerang Bucks as a credit towards a future purchase from Boomerang Books. Note that you must be a Member (free to sign up) and that conditions do apply.

Recent books by Thomas J. Sargent close
Robustness by Thomas J. Sargent
Macroeconomics at the Service of Public Policy by Thomas J. Sargent
Energy, Foresight and Strategy by Thomas J. Sargent
Recursive Models of Dynamic Linear Economies by Thomas J. Sargent
Rational Expectations and Inflation by Thomas J. Sargent
Macroeconomics at the Service of Public Policy by Thomas J. Sargent
Recursive Macroeconomic Theory by Thomas J. Sargent
Big Problem of Small Change by Thomas J. Sargent
Bounded Rationality in Macroeconomics by Thomas J. Sargent
Exercises in Dynamic Macroeconomic Theory by Thomas J. Sargent
Energy, Foresight and Strategy by Thomas J. Sargent
»
BoomerangBooks.com.au close