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Major Recessions: Britain and the World, 1920-1995

Sprache: Englisch.
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This book concentrates on the five biggest recessions in the twentieth century. It focuses on the UK, but makes numerous comparisons to recessions in other countries. Two major recessions are identified in the interwar period; three more in the years … weiterlesen
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Major Recessions: Britain and the World, 1920-1995 als Buch

Produktdetails

Titel: Major Recessions: Britain and the World, 1920-1995
Autor/en: Christopher Dow

ISBN: 0199241236
EAN: 9780199241231
Sprache: Englisch.
OXFORD UNIV PR

November 2000 - kartoniert - 496 Seiten

Beschreibung

This book concentrates on the five biggest recessions in the twentieth century. It focuses on the UK, but makes numerous comparisons to recessions in other countries. Two major recessions are identified in the interwar period; three more in the years 1973-1995. The main conclusion reached is that major recessions reflect abrupt fallings off in demand not supply, and can be explained by identifiable demand shocks. The concluding chapter offers advice on how to avoid future severe recessions: a combination of prudent policy-making beforehand and special measures in the downturn and recovery.

Inhaltsverzeichnis

1. Introduction; PART I. PRIOR ASSUMPTIONS AND METHODOLOGICAL PRELIMINARIES; 2. The Facts which Have to be Explained; 3. The Causal Structure of the Economy; 4. Supply and Demand Influence on the Rate of Growth; 5. Shocks and Response in Major Fluctuations; PART II. CASE STUDIES OF FIVE MAJOR RECESSIONS; 6. The Two Interwar Recessions (1920-22 and 1929-32) and the US Great Depression; 7. The Prolonged Interval without Major Recession 1945-73; 8. The Two OPEC Recessions (1973-75 and 1979-82); 9. The Credit Expansion of the late Eighties and the Recession of the Early Nineties; PART III. CONCLUSIONS; 10. The Theoretical Model: The Behaviour of the Economy in Major Fluctuations; 11. The Causation of Major Recessions: Summary and Discussion of Empirical Findings; 12. Are Recurrent Major Recessions Inevitable?

Portrait

Before his death in 1998, Christopher Dow was Visiting Fellow at the National Institute of Economic and Social Research (NIESR). His distinguished career included periods as Senior Economic Adviser to the UK Treasury, Deputy Director of NIESR, Assistant Secretary General of OECD, and Executive Director of the Bank of England.

Pressestimmen

."..a fascinating book...a fitting epitaph."--David Smith. The Sunday Times
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