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The Economic Implications of Aging Societies: The Costs of Living Happily Ever After
Steven A. Nyce , and
Sylvester J. Schieber
Manufacturer: Cambridge University Press
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The Coming Generational Storm: What You Need to Know about America's Economic Future
ASIN: 0521617243 |
Book Description
The world is getting older and no one knows exactly what life will be like in tomorrow's older societies. But we do know that age dependency ratios--the ratio of retirees to workers--will be much higher than we see today. The combined effects of fewer workers, more retirees and longer retirement periods threaten not only the sustainability of pension systems but also the broader economic prospects of many developed countries. This analysis describes current trends in birth rates, longevity and labor force participation and productivity, the cross-border flow of capital, the globalization of labor markets, the financial viability of social insurance programs, and the ways economic output is shared between working-age and retiree populations.
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Who Will Pay?: Coping With Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges
Peter S. Heller
Manufacturer: International Monetary Fund
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ASIN: 158906223X |
Book Description
Aging populations. Weather shocks. Scarce water. Globalization. Security threats. Policymakers today confront a number of developments that threaten to burden public budgets for decades to come, or bankrupt some entirely. The book argues that governments need to make policy changes now to take account of the potential fiscal consequences of these developments. After describing how analysts, national governments, and international organizations presently address, if at all, these long-term issues, the book stresses the vital need of a multipronged approach, involving strengthened analyses, greater attention to long-term issues and risk factors in the budgeting, and institutional reforms that address the myopic biases of politicians and the public.
Book Description
Written by leading thinkers in the field, this text provides an in-depth analysis of the economic and policy issues associated with the aging of individuals and populations. With a strong policy focus based on demographic and economic study, this book focuses on "who gets what " from current and proposed government programs that impact on older persons, and how these affect individual behaviour. It does so in a straightforward manner that is accessible to readers with a range of mathematical backgrounds. The discussion concentrates on:the effects of aging populations on the United States and other nations;the economic wellbeing of the elderly, highlighting women and minorities;public and private programs providing income for the elderly;Medicare, Medicaid, and private health insurance;Social Security and Medicare reform options;employer-based retirement programs and pensions;retirement patterns and factors influencing retirement decisions.The authors draw from the experiences of other countries in evaluating the US experience and options. Additionally, each chapter engages the reader through practical examples and stimulates further investigation by providing practice questions with relevant website addresses.
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America's Aging, the Social and Built Environment for an Older Society (America's Aging)
Committee on an Aging Society
Manufacturer: National Academy Press
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ASIN: 0309037808 |
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Economic Policy for Aging Societies (Symposia and Conference Proceedings)
Manufacturer: Springer
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ASIN: 3540432272 |
Book Description
In this volume, economists discuss the long-run consequences of aging societies. Using theoretical economic models, long-term projections and simulations, and econometric analysis, answers to the following questions are given: What are the economic consequences for consumption patterns, the supply of labor, capital accumulation, productivity, and the international flow of capital? Where are the political consequences for pension systems, health care and immigration policy? And what changes in politics are needed to handle the issues of populations that age markedly?
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Maintaining Prosperity in an Ageing Society
Organisation for Economic Co-Operation and Development
Manufacturer: Organization for Economic Cooperation & Devel
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ASIN: 9264160930 |
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Our Aging Society: Paradox and Promise
Manufacturer: W W Norton & Co Inc
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ASIN: 0393022994 |
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Pensions, Politics, and the Elderly: Historic Social Movements and Their Lessons for Our Aging Society
Daniel J. B. Mitchell
Manufacturer: M.E. Sharpe
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ASIN: 076560518X |
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Reforms for an Ageing Society
Organisation for Economic Co-Operation and Development , and
OECD
Manufacturer: Organization for Economic Cooperation & Devel
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ASIN: 926417687X |
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This book reviews recent trends, reforms and lessons learned in the OECD countries as they relate to aging. Recent reforms agendas have been driven mainly by fiscal factors-to adjust systems such as pensions and long-term care to the aging of the baby boom generation. This publication finds that a new policy agenda appears to be emerging, and it is likely to be centered on reversing the recent trends towards longer lifetime years to be spent in retirement and fewer lifetime years in employment. It is associated with likely trends towards a more diversified system of retirement income in most OECD countries-with more reliance on private pensions and a likely reversal of trends away from earnings as a source of income among older people.
The publication suggests that the scale of the changes that are taking place and the shape of this new policy agenda could result in a transformation of the institution of retirement and its financing. Familiar policy debates-such as the balance between public and private pensions-may need to be recast to take account of the likely future growth in the role of earnings in the retirement income system.
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- Provides a correct overview of Keynes's preventive policies
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Keynes's General Theory, the Rate of Interest and 'Keynesian' Economics
Geoff Tily
Manufacturer: Palgrave Macmillan
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ASIN: 1403996288
Release Date: 2007-03-20 |
Book Description
This book argues that Keynesian economists have betrayed Keynes's theory and policy conclusions. Keynesian economics has not merely led to an easily dismissed justification for 'Keynesian' policies, but the world has been grossly misled about just what those policies are. Keynesians have focused attention exclusively on policies for dealing with effects of economic failure as they arise, whereas in contrast, Keynes was concerned with the cause and then the prevention of economic failure. While these effects can be addressed with fiscal policy, the cause and prevention was a matter for monetary policy. Keynes's legacy is that of national and international policy measures that permit the necessary control over the financial system.
Customer Reviews:
Provides a correct overview of Keynes's preventive policies.......2006-06-29
Tily has written a very good book examining the policies laid down by Keynes to help prevent the occurrences of recessions and depressions in the first place.Keynes relies on his generalized quantity theory of money as laid out in chapter 21 of the General Theory,although this is overlooked by Tily.Keynes's generalized general theory is expressed by the condition w/p=mpl/e,where e=Mdp/pdM as defined by Keynes on p.305 of the GT.If e=1,then w/p=mpl and you have a full employment equilibrium in the aggregate labor market,where w is the money wage ,p is the expected price level,and mpl is the marginal product of labor derived from an aggregated neoclassical production function(see p.283 and p.285 of the GT).If e
<1,then you have a set of multiple unemployment equilibriums.Keynes's monetary policy prescription is to require that the interest rate be fixed at a low rate.This prescription goes back to the policies of the Thomistic scholastic philosophers and Adam Smith in the Wealth of Nations(see WN,1776,pp.338-340).In fact,Smith's and Keynes's policy prescriptions are identical(GT,p.352).They require that the unsatisfied fringe of borrowers must consist of currency speculators,leveraged buyout artists,and stock market speculators(projectors) using margin account loans to leverage their stock holdings.Credit would have to be skewed away from these individuals by policy actions of the central bank.Keynes's policy is thus one of permanent easy money where all bank loans are made to individuals who intend to use it to attain or rent productive capital goods,build houses, construct factories,etc.Tily does not emphasize sufficiently Keynes's warning that the forces of banking and finance will oppose such a policy,making it practically impossible to implement.The policy is correct in theory,but is not practical to actually implement.This is where the promulgation of Bismarck's social welfare state or a negative income tax system comes into play.The deleterious impacts of a speculator-casino " crony capitalism " can be mitigated by such policies.
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- How your money is going to be inflated
- I have read this book again and again for ten years.
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An Analysis and History of Inflation
Don Paarlberg
Manufacturer: Praeger Publishers
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Culture and Inflation in Weimar Germany (Weimar and Now: German Cultural Criticism)
ASIN: 0275944166 |
Book Description
This history and analysis examines fifteen great inflations--from Ancient Rome to the French Revolution to post-World War I Germany to modern-day Brazil--to provide an understanding of the causes of inflation. A unique feature of the book is the evidence presented that a moderate degree of inflation is usually accompanied by increased economic activity. Contrary to the views of many, moderate inflation appears to be welcomed by most people and assists in returning incumbent political leaders to power. In addition, the money illusion, the belief that money has constant value over time, is shown by the author to be grievously in error. Presenting views which are at odds with much of mainstream economics, Paarlberg concludes that inflation is caused by an excess of money, and since the creation of money is a government monopoly,governments are responsible for inflation. Additionally, various macroeconomic theories are unable to account for gyrations of production and prices. The best explanation for these matters, therefore, is to be found in institutional economics, which takes into regard whatever forces exist rather than focusing on a select few while purporting to hold others constant. This thoughtful work will be of interest to scholars, students, and laypersons in economics and economic history.
Customer Reviews:
How your money is going to be inflated.......2007-08-06
This is a great book! I been looking for a book that would give me insight on how inflation is started and how it ends, as well as arguments for and against the gold standard, etc. I've read bits and pieces of this book's wisdow in a number of other books and articles, but this pulls it all together. From this book I got true insights on why inflation is basically unavoidable in any country: given time something is going to happen (usually war) or someone is going to come along to convince a population's leaders to debase the money supply - no matter what money standard you are on. Rome had a type of gold standard, the US had a gold standard, etc. People make the standard, people can change the standard.
I know this sounds overly simple, but inflation is too much money pursuing too few goods/services. And the early effects of inflation are the forbidden fruit that few politicians can bear. (Note: Makes you wonder why the Fed did away with the M3 measure for the money supply.) If you want to understand inflation, I can think of no better way than to review 15 examples. Thanks Paarlberg!
I have read this book again and again for ten years........2004-01-22
Allow me to pay respect and compliment to Mr. Don Paarlberg here. Mr. Don Paarlberg has an insightful understanding of human nature and their behavior that his examination and explanations of inflation history grab my intention very time I read this book. They make a lot of senses and transform my knowledge of economics into a penetrating understanding of human behavior and reactions to certain events. Mr. Don Paarlberg elevates my perspective toward macro-economics to a higher level, that of a human behavioral one, and certainly broadens my eyesight with regard to how human nature and human behavior did not change over the past two thousand years or so in terms of what people would do in reaction to price drivers. Lastly, I appreciate Mr. Don Paarlberg's exquisite, precise, and concise way of writing, something much less seen nowadays. Thank you, Mr. Don Paarlberg.
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Exchange Rate Economics: Theories and Evidence
Rona MacDonald
Manufacturer: Routledge
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Exchange Rate Determination (Irwin Library of Investment & Finance.)
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The Economics of Exchange Rates
ASIN: 0415125510 |
Book Description
Exchange Rate Economics: Theories and Evidence is the second edition of
Floating
Exchange Rates: Theories and Evidence and builds on the successful content and structure of the previous edition, but has been comprehensively updated and expanded to include additional literature on the determination of both fixed and floating exchange rates.
Core topics covered include:
- the purchasing power parity hypotheses and the PPP puzzle
- the monetary and portfolio-balance approaches to exchange rates
- new open economy macroeconomics approach to exchange rates
- the determination of exchange rates in target zone models and speculative attack models.
Exchange Rate Economics: Theories and Evidence also includes extensive discussion of recent econometric work on exchange rates with a particular focus on equilibrium exchange rates and measuring exchange rate misalignment, as well as discussion on the non-fundamentals-based approaches to exchange rate behaviour, such as the market microstructure approach.
The book will appeal to academics and postgraduate students with an interest in all aspects of international finance and will also be of interest to practitioners interested in issues of equilibrium exchange rates and the forecastability of currencies in terms of macroeconomic fundamentals.
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Positive Political Economy: Theory and Evidence
Manufacturer: Cambridge University Press
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ASIN: 0521572150 |
Book Description
Positive Political Economy investigates how observed differences in institutions affect political and economic outcomes in various social, economic and political systems. It also examines how the institutions themselves change and develop in response to individual and collective beliefs, preferences and strategies. This volume tackles both monetary and real topics in an integrated way, and represents the first coherent empirical investigation of positive models of political economy.
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The Theory of Monetary Aggregation (Contributions to Economic Analysis)
Manufacturer: North Holland
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ASIN: 0444501193 |
Book Description
In recent years, there has been renewed interest in index number and aggregation theory, since the two previously divergent fields have been successfully unified. The underlying aggregator functions which are weakly separable subfunctions of utility and production functions, are the building blocks of economic theory, and the derivation of index numbers based upon their ability to track those building blocks is now called the "economic theory of index numbers."
William Barnett, the coeditor of this volume, introduced modern economic index number theory into monetary economics. His merger of economic index number theory, with monetary theory was based upon the use of Diewert's approach to producing "superlative" nonparametric approximations to the theoretically exact aggregator functions. This book comprises a focussed and unified collection of Barnett's most important publications in this area.
The papers in the book have been organized into logical sections, with unifying introductions and overviews. The result is a systematic development of the state of the art in monetary and financial aggregation theory. The sections cover the origin of the user cost price of monetary services. Exact aggregation of monetary assets on the demand side for consumers and firms, and on the supply side for financial intermediaries, general equilibrium of all economic agents' demands and supplies, dynamic solution of the exact system, and extension to monetary aggregation under risk. The extension of index number theory to the case of risk is completely general, and can be applied to tracking any exact economic aggregator under risk. In all cases, the criterion used for evaluation is the tracking ability of the approximation to the exact aggregator function of economic theory.
Many of the empirical and policy puzzles in monetary economics disappear when simple sum monetary aggregates are replaced by index numbers that are coherent with theory. Simple sum monetary aggregates became incoherent with theory, when monetary assets began paying interest and therefore could no longer be viewed as perfect substitutes.
This is a useful tool to those associated with economics departments within universities, business schools, central banks and federal governments, financial institutions including underwriters, bankers and stockbrokers.
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Human Psychology and Economic Fluctuations: A New Basic Theory of Human Economics
Hideaki Tamura
Manufacturer: Palgrave Macmillan
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Binding: Hardcover
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ASIN: 0230004822 |
Book Description
The human factor has received scant attention in modern Economics, however this volume redresses the balance by incorporating human psychology into economic analysis. This book constructs a new basic structure model of economic circulation based on a new flow-like concept of utility (diminishing utility) and analyzes the direct relationship between human psychology and economic fluctuation, while expanding it into a consistent explanation of the generation and the collapse of financial bubbles.
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- Demonstrating the role of Keynesian(Ellsbergian)uncertainty
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Money and the Economy: Issues in Monetary Analysis (Raffaele Mattioli Lectures)
Karl Brunner , and
Allan H. Meltzer
Manufacturer: Cambridge University Press
ProductGroup: Book
Binding: Paperback
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ASIN: 0521599741 |
Book Description
This volume, by two eminent monetarist economists, offers a unique perspective on a key issue of monetary economics: the effect of money on output. Karl Brunner and Allan Meltzer address the theoretical aspects of this issue with the purpose of understanding their policy implications. They offer an historical overview of the relationship between money and output, and then go on to present a model of a monetary economy before examining the real sector. The theme of the final lecture is uncertainty and the costs of acquiring information.
Customer Reviews:
Demonstrating the role of Keynesian(Ellsbergian)uncertainty.......2005-09-27
This book, although mistitled,is the best book that I HAVE EVER READ on theoretical and applied monetary economics.However,the correct title is "Keynesian Uncertainty,Money,and the Economy:Incorporating uncertainty(or Ellsbergian ambiguity)into monetary analysis".Brunner and Meltzer identify their position in this book as "weak monetarism".One can contrast this with strong monetarism,real business cycle theory,rational expectations,supply side economics,etc.,which denies that uncertainty plays any role in applied and theoretical economics.Only risk,represented by a normal probability distribution,has any role to play.Keynes would commend Brunner and Meltzer.Keynes would also state that he had never abandoned the Quantity theory of money,but had expanded and generalized its theoretical structure and range of application so as to deal with uncertainty,ambiguity,and ignorance.Keynes did this in chapter 21 of thr General Theory(see also p.209).A real synthesis is now possible between the economics of Keynes and the economics of Brunner and Meltzer .Instead of Keynes's difficult(but correct)elasticity analysis of chapters 20 and 21,we will present a generalized equation of exchange:instead of MV=PO,which views money as a transaction demand only,subject to risk as measured by a normal probability distribution's standard deviation,we incorporate a variable to measure Keynesian uncertainty(lack of weight in the A Treatise on Probability)or Ellsbergian ambiguity which we will designate as w.w is defined on the unit interval between 0 and 1.The equation of exchange then becomes M(Vw)=PO.w can also be given a nonlinear form if desired.If w=1,then only a transaction demand for money exists.Only risk needs to be taken into account.If w
<1,the precautionary and speculative demands for money start to have an effect and uncertainty/ambiguity starts to cause problems in the real sector (on output,employment,investment,etc.).The w variables impact will show up with a "regular irregularity",a la Schumpeter, over time.Current econometric practice will not be able to measure the impact.It will be necessary to fall back on the new statistical toolkit created by Benoit Mandelbrot in order to take into account the impact of uncertainty and/or ambiguity.Brunner and Meltzer are correct when they state that"We share Keynes's emphasis on the pervasive uncertainty confronting decision makers"(p.65)and"We accept Keynes's distinction between actual and maximum output."(p.159).That leaves only the debate between discretion versus rules as a point of contention.Keynes would have favored some discretion within a rules criterion.I recommend this book to any reader interested in monetary policy,theory,or application.
Average customer rating:
- Exchange Rate Regimes: Fixed, Flexible or Something in Between
|
Exchange Rate Regimes: Fixed, Flexible or Something in Between
Imad A. Moosa
Manufacturer: Palgrave Macmillan
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Binding: Hardcover
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ASIN: 1403936722
Release Date: 2005-08-11 |
Book Description
This book discusses the role played by the exchange rate in the economy and the pros and cons of fixed and flexible rates are discussed. The classification of exchange rate regimes is examined from theoretical, practical and historical perspectives. Macroeconomic performance under various exchange rate regimes is assessed, followed by a survey of models of exchange rate regime choice. Some factual case studies are presented and related to the theoretical foundations, including the choice of exchange rate regime in the post-conflict case of Iraq.
Customer Reviews:
Exchange Rate Regimes: Fixed, Flexible or Something in Between .......2007-05-20
A wonderful guide with all the basics to understand the different kinds of exchange rate regimes and the challenges they pose to different economies.
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Macroeconomics and Monetary Theory
Harry Johnson
Manufacturer: Aldine Transaction
ProductGroup: Book
Binding: Paperback
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ASIN: 0202308650 |
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Monetary Orders: Ambiguous Economics, Ubiquitous Politics (Cornell Studies in Political Economy)
Manufacturer: Cornell University Press
ProductGroup: Book
Binding: Paperback
Economic Policy & Development
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ASIN: 0801488400 |
Book Description
Wherever there is money, there is money politics-a subject demanding ever greater attention at a time when monetary policies lead and the real economy follows. A principal defining characteristic of the contemporary global economy, Jonathan Kirshner contends, is the rise and preeminence of monetary phenomena—international financial crises, Central Bank Independence and inflation fighting, the creation of the euro, and monetary reform in emerging economies, to name only a few. Moreover, unlike most debates in political economy (such as those regarding trade policy), which are generally recognized as political, monetary phenomena and macroeconomic policies are typically represented as expressly apolitical. In Monetary Orders, a distinguished group of scholars explores the inescapable political origins of choices about money. The essays in Monetary Orders each address a specific issue or puzzle relating to money and its management. Their authors focus on markedly disparate cases but share a common observation: for most policy choices about money, market forces and economic logic can rule out certain options, but are indeterminate in explaining why one policy rather than another will be chosen. Ultimately, political factors are essential to explain fundamental and consequential choices about money.
Contributors: Rawi Abdelal, Harvard Business School Mark Blyth, Johns Hopkins University Michele Chang, Colgate University Francis Gavin, University of Texas, Austin Ilene Grabel, University of Denver William Grimes, Boston University Eric Helleiner, Trent University Jonathan Kirshner, Cornell University Hector Schamis, Cornell University David Stasavage, London School of Economics Hongying Wang, Syracuse University
Books:
- The Evolution of Economic Thought (with Printed Access Card (InfoTrac 1-Semester, Economic Applications Online Product)
- The Limits of Power: Great Fires and the Process of City Growth in America
- The Next Global Stage: The Challenges and Opportunities in Our Borderless World
- The Silent Takeover: Global Capitalism and the Death of Democracy
- The United States and Western Europe since 1945: From "Empire" by Invitation to Transatlantic Drift
- The Vital Few: The Entrepreneur and American Economic Progress (Galaxy Book)
- Trade Policy and Market Structure
- Transport Investment and Economic Development
- Tropical Soils: Properties and Management for Sustainable Agriculture (Topics in Sustainable Agronomy)
- Understanding Interest Rate Swaps
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