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Money illusion (Record no. 567002)

MARC details
000 -LEADER
fixed length control field 02794 a2200241 4500
003 - CONTROL NUMBER IDENTIFIER
control field OSt
005 - DATE AND TIME OF LATEST TRANSACTION
control field 20250618162506.0
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 231124b xxu||||| |||| 00| 0 eng d
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
ISBN 9780226826561
040 ## - CATALOGING SOURCE
Transcribing agency IIT Kanpur
041 ## - LANGUAGE CODE
Language code of text/sound track or separate title eng
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 339.530973
Item number Su67m
100 ## - MAIN ENTRY--AUTHOR NAME
Personal name Sumner, Scott, 1955- author.
245 ## - TITLE STATEMENT
Title Money illusion
Remainder of title market monetarism, the great recession, and the future of monetary policy
Statement of responsibility, etc Scott Sumner
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Name of publisher University of Chicago Press
Year of publication 2021
Place of publication Chicago
300 ## - PHYSICAL DESCRIPTION
Number of Pages ix, 404 pages
500 ## - GENERAL NOTE
General note <br/> Includes bibliographical references (pages 369-391) and index.<br/>
505 ## - FORMATTED CONTENTS NOTE
Formatted contents note Introduction: The real problem was nominal -- The value of money. Cognitive illusions in economics ; The value of money and money illusion ; What determines the value of money? ; The quantity theory of money and the Great Inflation ; Money at the extremes: hyperinflation and deflation ; It's (almost) all about expectations -- The dance of the dollar. The Great Depression and the AS-AD model ; One derivative beyond Hume ; Rational expectations and efficient markets -- Never reason from a price change. The musical-chairs model ; What is monetary policy? ; Nominal and real exchange rates -- How to think about macroeconomics. The path to market monetarism ; I see dead patterns ; Good economists don't forecast, they infer market forecasts ; The secret history of monetary policy -- The Great Recession. Fed policy in 2008: a case of self-induced paralysis? ; A confession of contractionary effect ; Schadenfreude on the Titanic ; Alternative explanations of the Great Recession -- What does it all mean? Policy implications of market monetarism ; Why should you believe in market monetarism.
520 ## - SUMMARY, ETC.
Summary, etc "The Money Illusion is George Mason University economist Scott Sumner's end-to-end case for an evolved, less discretionary approach to monetary policy, which he and his cohort have termed "market monetarism." The nominal use of "market" here is telling: Sumner argues that public confidence in central banking institutions like the Fed is central, and as critical as forecasting, to ensuring the health and stability of the economy. To achieve it, he makes a case that monetary policy should be indexed against a pre-set growth trajectory (in the form of a steadily increasing nominal GDP), not regulated ad-hoc through interpretations of short-term market changes. As Sumner tells it, the Fed is simultaneously responsible for the Great Recession and our best safeguard against having it happen again. Part of that is a responsibility to chart a course, and to do so with transparency"-- Provided by publisher.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Term Monetary policy--United States.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Term Recessions--Effect of monetary policy on--United States.
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Koha item type Books
Holdings
Withdrawn status Lost status Damaged status Not for loan Collection code Home library Current library Date acquired Source of acquisition Cost, normal purchase price Full call number Accession Number Cost, replacement price Koha item type
        General Stacks PK Kelkar Library, IIT Kanpur PK Kelkar Library, IIT Kanpur 26/12/2023 2 1560.38 339.530973 Su67m A186388 2080.50 Books

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