Years of Recovery
Years of Recovery

Author: Alec Cairncross

Publisher: Routledge

Published: 2013-11-05

Total Pages: 553

ISBN-13: 1136597638

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Years of Recovery was the first comprehensive study of the transition from war to peace in the British economy under the Labour government of 1945–51. It includes a full account of the successive crises and turning-points in those hectic years – the coal and convertibility crises of 1947, devaluation in 1949 and rearmament in 1951. These episodes, apart from their dramatic interest, light up the dilemmas of policy and the underlying economic trends and pressures in a country delicately poised between economic disaster and full recovery. Many of the debates on economic policy that are still in progress – on incomes policy, demand management, the welfare state and relations with Europe, for example – have their roots in those years. Many of the trends originating then persisted long afterwards. The book also examines the interaction between events and policy and the role in a managed economy of the policy-making machine. Now that the public records are open to 1954, it has been possible to make use of official documents to review the possibilities of action that were canvassed and the thinking and differences of opinion that underlay ministerial decisions. Combining personal involvement with thorough research, this fascinating study will be a major contribution to our understanding of post-war economic policy. Alec Cairncross was Chancellor of the University of Glasgow and a former Master of St Peter’s College, Oxford. He spent the years covered by this volume as a civil servant in London, Berlin and Paris before moving to Glasgow as Professor of Applied Economics. This classic book of some of his most brilliant research was first published in 1985.

Government Policies and the Delayed Economic Recovery
Government Policies and the Delayed Economic Recovery

Author: Lee E. Ohanian

Publisher: Hoover Press

Published: 2013-09-01

Total Pages: 263

ISBN-13: 0817915362

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This book examines the reasons for the unprecedented weak recovery following the recent US recession and explores the possibility that government economic policy is the problem. Drawing on empirical research that looks at issues from policy uncertainty to increased regulation, the volume offers a broad-based assessment of how government policies are slowing economic growth and provides a framework for understanding how those policies should change to restore prosperity in America.

World Economic Outlook, October 2018
World Economic Outlook, October 2018

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 2018-10-09

Total Pages: 215

ISBN-13: 148437679X

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Global growth for 2018–19 is projected to remain steady at its 2017 level, but its pace is less vigorous than projected in April and it has become less balanced. Downside risks to global growth have risen in the past six months and the potential for upside surprises has receded. Global growth is projected at 3.7 percent for 2018–19—0.2 percentage point lower for both years than forecast in April. The downward revision reflects surprises that suppressed activity in early 2018 in some major advanced economies, the negative effects of the trade measures implemented or approved between April and mid-September, as well as a weaker outlook for some key emerging market and developing economies arising from country-specific factors, tighter financial conditions, geopolitical tensions, and higher oil import bills. The balance of risks to the global growth forecast has shifted to the downside in a context of elevated policy uncertainty. Several of the downside risks highlighted in the April 2018 World Economic Outlook (WEO)—such as rising trade barriers and a reversal of capital flows to emerging market economies with weaker fundamentals and higher political risk—have become more pronounced or have partially materialized. Meanwhile, the potential for upside surprises has receded, given the tightening of financial conditions in some parts of the world, higher trade costs, slow implementation of reforms recommended in the past, and waning growth momentum.

The Global Economic Recovery 10 Years After the 2008 Financial Crisis
The Global Economic Recovery 10 Years After the 2008 Financial Crisis

Author: Ms.Wenjie Chen

Publisher: International Monetary Fund

Published: 2019-04-26

Total Pages: 32

ISBN-13: 1498305423

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This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007–08. Sluggish investment was a key channel through which these losses registered, accompanied by long-lasting capital and total factor productivity shortfalls relative to precrisis trends. Policy choices preceding the crisis and in its immediate aftermath influenced postcrisis variation in output. Underscoring the importance of macroprudential policies and effective supervision, countries with greater financial vulnerabilities in the precrisis years suffered larger output losses after the crisis. Countries with stronger precrisis fiscal positions and those with more flexible exchange rate regimes experienced smaller losses. Unprecedented and exceptional policy actions taken after the crisis helped mitigate countries’ postcrisis output losses.

Disasters and Economic Recovery
Disasters and Economic Recovery

Author: Davia C. Downey

Publisher: Routledge

Published: 2021-07-05

Total Pages: 185

ISBN-13: 1000399443

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Disasters and Economic Recovery provides perspectives on the economic issues that emerge before, during, and after natural disasters in an international context, by assessing the economic development patterns that emerge before and after disaster. This book will provide a historical overview of emergency management policy and previous responses to disasters in each country, as well as the policy learning that occurred in each case leading up to the disasters under analysis. The book highlights four cases: New Orleans; Christchurch, New Zealand; the Japan earthquake and tsunami; and Hurricane Sandy in the Northeastern United States. The book places important focus on the specific collaborative developments unique to the rebuilding of each place’s economy post-disaster. Using time-series data, the book shows the emergence of new industries and job hiring patterns in the immediate aftermath, as well as provides a picture of the economic performance of each country in the years following each event. Looking at the economic development policies pre- and post-disaster, readers will glean important lessons on how to build resilient economies within the disaster framework, highlighting the differences in approaches to rebuilding local economies in places with varying levels of governmental capacity post-disaster to inform policymakers, scholars, and the disaster relief community as they plan their response to future disasters.

Roosevelt, the Great Depression, and the Economics of Recovery
Roosevelt, the Great Depression, and the Economics of Recovery

Author: Elliot A. Rosen

Publisher: University of Virginia Press

Published: 2012-10-05

Total Pages: 324

ISBN-13: 0813934273

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Historians have often speculated on the alternative paths the United Stages might have taken during the Great Depression: What if Franklin D. Roosevelt had been killed by one of Giuseppe Zangara’s bullets in Miami on February 17, 1933? Would there have been a New Deal under an administration led by Herbert Hoover had he been reelected in 1932? To what degree were Roosevelt’s own ideas and inclinations, as opposed to those of his contemporaries, essential to the formulation of New Deal policies? In Roosevelt, the Great Depression, and the Economics of Recovery, the eminent historian Elliot A. Rosen examines these and other questions, exploring the causes of the Great Depression and America’s recovery from it in relation to the policies and policy alternatives that were in play during the New Deal era. Evaluating policies in economic terms, and disentangling economic claims from political ideology, Rosen argues that while planning efforts and full-employment policies were essential for coping with the emergency of the depression, from an economic standpoint it is in fact fortunate that they did not become permanent elements of our political economy. By insisting that the economic bases of proposals be accurately represented in debating their merits, Rosen reveals that the productivity gains, which accelerated in the years following the 1929 stock market crash, were more responsible for long-term economic recovery than were governmental policies. Based on broad and extensive archival research, Roosevelt, the Great Depression, and the Economics of Recovery is at once an erudite and authoritative history of New Deal economic policy and timely background reading for current debates on domestic and global economic policy.