Seidman, Laurence
How to Combat Recession : stimulus without debt - New York Oxford University Press 2018 - vi, 239p.
Include Index and Reference
Recessions are a recurring phenomenon and there are repeated debates about how to combat them when the crisis hits and after the economy begins to grow again. Laurence Seidman argues that currently, we are not ready to combat the next recession. A recession involves a plunge in aggregate demand for goods and services which compels producers to cut production and employment. Fortunately, a large boost in demand can be achieved by a large fiscal stimulus-primarily a temporary large increase in tax rebates for households plus several fiscal supplements. But fiscal stimulus has always involved a large increase in government debt, something Congress understandably resists. Seidman explains all aspects of this new way to combat the recession, "stimulus-without-debt." He presents evidence that fiscal stimulus works in a recession-it increases aggregate demand which stimulates production and employment. He explains why the fiscal stimulus should consist primarily of tax rebates for households plus several fiscal supplements. His analysis covers basic foundations as well as implications for inflation, central banks, and how to address secular stagnation. When the next recession hits, we will be ready to combat it if we know how to use fiscal stimulus without increasing
9780190462178
Monetary Policy--United States--Recessions
339.520973 / SEI-H
How to Combat Recession : stimulus without debt - New York Oxford University Press 2018 - vi, 239p.
Include Index and Reference
Recessions are a recurring phenomenon and there are repeated debates about how to combat them when the crisis hits and after the economy begins to grow again. Laurence Seidman argues that currently, we are not ready to combat the next recession. A recession involves a plunge in aggregate demand for goods and services which compels producers to cut production and employment. Fortunately, a large boost in demand can be achieved by a large fiscal stimulus-primarily a temporary large increase in tax rebates for households plus several fiscal supplements. But fiscal stimulus has always involved a large increase in government debt, something Congress understandably resists. Seidman explains all aspects of this new way to combat the recession, "stimulus-without-debt." He presents evidence that fiscal stimulus works in a recession-it increases aggregate demand which stimulates production and employment. He explains why the fiscal stimulus should consist primarily of tax rebates for households plus several fiscal supplements. His analysis covers basic foundations as well as implications for inflation, central banks, and how to address secular stagnation. When the next recession hits, we will be ready to combat it if we know how to use fiscal stimulus without increasing
9780190462178
Monetary Policy--United States--Recessions
339.520973 / SEI-H