000			01725nam a22001577a 4500
999			_c25493 _d25493
020			_a9780190462178
082			_a339.520973 _bSEI-H
100			_aSeidman, Laurence
245			_aHow to Combat Recession _b: stimulus without debt
260			_aNew York _bOxford University Press _c2018
300			_avi, 239p.
504			_aInclude Index and Reference
520			_aRecessions 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
650			_aMonetary Policy _vRecessions _zUnited States
942			_2ddc _cBK