Economics sidebar In economics, stagflation is a situation in which the inflation rate is high and the economic ... inflation may worsen economic stagnation and vice versa. The portmanteau stagflation is generally ... dictionary.reference.com browse stagflation accessed May 05, 2007 . ref ref British British House ... out that the term stagflation has sometimes been erroneously attributed to Paul Samuelson . ref ref ..., and also because stagflation has generally proven to be difficult and, in human terms as well as budget deficits, very costly to eradicate once it starts. In the political arena one measure of Stagflation ... and 1980. Causes Economists offer two principal explanations for why stagflation occurs. First, stagflation ... title Supply Shocks The Dilemma of Stagflation accessdate 2008 01 24 author J. Bradford DeLong ... of these factors can cause stagflation. Excessive growth of the money supply taken to such an extreme ... in analyses of the global stagflation of the 1970s it began with a huge rise in oil prices, but then continued ... last2 Kilian first2 Lutz date 2000 title A Monetary Explanation of the Great Stagflation of the 1970s ... Up to the 1960s many Keynesian economics Keynesian economists ignored the possibility of stagflation ... raises demand. However, in the 1970s and 1980s, when stagflation occurred, it became obvious that the relationship ... themselves reconsidered their ideas in search of an explanation of stagflation. ref Blanchard ... New Keynesian macroeconomics Contemporary Keynesian analyses argue that stagflation can ... to stagflation. ref name abelbernanke cite book last Abel first Andrew coauthors Ben Bernanke and Andrew ... . Stagflation, in this view, is caused by cost push inflation . Cost push inflation occurs when some ... authorlink coauthors year 1976 month title Elements of Stagflation Theory journal Zeitschrift f r National konomie ... are based on the neo Keynesian cost push model and attribute stagflation to significant disruptions .... Citation needed date April 2008 In this view, stagflation is thought to occur when there is an adverse ... more details
depth through stagflation raise prices faster than the competition . ref http bnarchives.yorku.ca 3 Regimes of Differential Accumulation Mergers, Stagflation and the Logic of Globalization. Nitzan 2001 ... Depth Stagflation Cost cutting Dynamics of the regimes Nitzan and Bichler make several broad conclusions. 1 Of the four regimes, the most important are Consolidation business amalgamation and stagflation ... tend to be compensated for by stagflation, which appears as a crisis at the societal level ... to the present worldwide merger boom could therefore trigger global stagflation. 5 Stagflation crises ... the global envelope, Nitzan and Bichler argue that future stagflation crises may prove much more difficult to tame. ref http bnarchives.yorku.ca 3 Regimes of Differential Accumulation Mergers, Stagflation and the Logic of Globalization. Nitzan 2001, p. 233 ref Stagflation in differential accumulation theory Differential accumulation theory sees stagflation oscillate inversely with periods where ... the average a market imbalance results. Stagflation, which appears as a crisis at the societal level ... capital group which has benefited from stagflation has been the weapon dollar petrodollar coalition ... the average. Similarity to supply shock theories of stagflation Differential accumulation theory shares some similarities with the Stagflation Supply theory supply shock theory where there are sudden ... as stagflation. The soaring price of oil from 2004 to 2008 helped to sustain inflation, but with a looming ... of Differential Accumulation Mergers, Stagflation and the Logic of Globalization. Nitzan, Jonathan ... more details
Refimprove date December 2009 In macroeconomics , the triangle model employed by new Keynesian economics is a model of inflation derived from the Phillips Curve and given its name by Robert J. Gordon . The model views inflation as having three root causes built in inflation , demand pull inflation , and cost push inflation . ref Robert J. Gordon 1988 , Macroeconomics Theory and Policy , 2nd ed., Chap. 22.4, Modern theories of inflation . McGraw Hill. ref Unlike the earliest theories of the Phillips Curve, the triangle model attempts to account for the phenomenon of stagflation . References Reflist DEFAULTSORT Triangle Model Category Economics models Econ stub ... more details
For the Swedish entomologist, inventor of the Malaise trap Ren Malaise Refimprove date April 2008 SignSymptom infobox Name Malaise ICD10 ICD10 R 53 r 50 ICD9 ICD9 780.7 MedlinePlus 003089 eMedicineSubj search eMedicineTopic Malaise Malaise IPA en m le z pron , mal aze is a feeling of general suffering discomfort or uneasiness, of being out of sorts , often the first indication of an infection or other disease. Malaise is often defined in medicinal research as a general feeling of being unwell . This word is originally a French word existing since the 12th century. The term is also often used figuratively in other contexts for example, economics economic malaise refers to an economy that is stagnant or in recession compare Depression economics depression . The term is particularly associated with the Global stagflation of the 1970s stagflation of the 1970s , as in Presidency of Jimmy Carter .22Malaise.22 speech the popularly called malaise speech of President Jimmy Carter the speech, however, did not use the term . The term malaise as used for the 1970s stagflation predates the speech, however. ref One example can be found in The Next 200 Years A Scenario for America and the World , by Herman Kahn et al., published in 1976, p. 2. ref Cause There can be various causes of malaise, from the slightest like an emotion causing vagal response or hunger light hypoglycemia to the most serious cancer , stroke , heart attack , internal bleeding , etc. Generally speaking, the malaise expresses that something is not going right, like a general warning light, but only a medical examination can determine the cause. Associated conditions Multicol Akathisia Altitude sickness Anemia Aphthous ulcer Appendicitis Babesiosis Bolivian hemorrhagic fever Borderline personality disorder Cat scratch disease Chickenpox Chronic fatigue syndrome Chronic myelogenous leukemia Chronic kidney disease Chronic sinusitis Common cold Conjunctivitis Coryza Diabetes mellitus Diabetic nephropathy Dysauton ... more details
Unreferenced date December 2009 Image economics supply shock.png thumb right 240px Economics supply shock A supply shock is an event that suddenly changes the price of a commodity or Service economics service . It may be caused by a sudden increase or decrease in the Supply economics supply of a particular good. This sudden change affects the equilibrium price . A negative supply shock sudden supply decrease will raise prices and shift the aggregate supply curve to the left. A negative supply shock can cause stagflation due to a combination of raising prices and falling output. A positive supply shock an increase in supply will lower the price of said good and shift the aggregate supply curve to the right. A positive supply shock could be an advance in technology a technology shocks technology shock which makes production more efficient, thus increasing output. An example of a negative supply shock is the increase in oil prices during the 1973 energy crisis . Technical analysis The diagram to the right demonstrates a negative supply shock The initial position is at point A, producing Y sub 1 sub quantity, at P sub 1 sub prices. Then there is a supply shock, this has an adverse effect on aggregate supply, the supply curve shifts left from AS sub 1 sub to AS sub 2 sub , while the demand curve stays in the same position. The intersection of the supply and demand curves has now moved and the equilibrium is now point B, quantity has been reduced to Y sub 2 sub , while prices have been increased to P sub 2 sub . See also Demand shock Macroeconomics Stagflation Supply and demand DEFAULTSORT Supply Shock Category Macroeconomics ... more details
orphan date June 2009 The premise that the global economy is heading into a period of stagnation, ref US Dollar, Stagnation and Hyper Inflation http www.depression2.tv d2 node 208 ref combined with hyperinflation due to the massive monetary expansion ref Is Printing Money the Cure Fox news http www.foxbusiness.com search results m 22279854 growing the deficit a cure.htm ref ref Deep Rate Cuts and Massive Spending Stagflation Hyperstagflation http www.24hgold.com english news gold silver fed rate cuts back fire lead to quagmire of stagflation .aspx?contributor Gary Dorsch&article 1134223652G10020&redirect false ref ref Will US Policies Lead to Hyperstagflation http www.atimes.com atimes Global Economy KE07Dj02.html ref being orchestrated by the world s governments ref US Needs Hyperstagflation http www.housepricecrash.co.uk forum index.php?showtopic 33111 ref and central banks. ref The Formula For Hyperstagflation http theinternationalforecaster.com International Forecaster Weekly ref ref What is Hyperstagflation? http chicago.pressmania.com all 222 295284.aspx ref ref Youtube Video What is Hyperstagflation http www.youtube.com watch?v nqj8EGdDnQk ref ref Are We Heading for Hyperstagflation? http www.thedailycrock.com ?p 721 ref ref The Economics of Hyperstagflation Chile s Experience http ideas.repec.org a eee deveco v7y1980i4p467 488.html ref References references See also Inflation Money Supply Commodity Futures contract Austrian Economics Milton Friedman Monetarism Hyperinflation Hard asset Inflation hedge Category Economics Category Economic theories economics stub ... more details
when stagflation occurred. The decade saw rising oil prices caused by OPEC embargo on the United .... Keynesians were puzzled by the outbreak of stagflation because the original Phillips curve ruled ... economics to explain stagflation . New classical and monetarist criticisms led by Robert Lucas, Jr ... models to be based on microeconomics. Meanwhile, Friedman before the stagflation proposed that the Phillips ... that contradicts then accepted relationship between inflation and unemployment rate. The stagflation ... more details
Politics of the Netherlands The first Biesheuvel cabinet 6 July 1971 9 August 1972 was a Netherlands Dutch cabinet with ministers from Anti Revolutionary Party ARP , CHU both Protestant , Roman Catholic Catholic People s Party KVP , the conservative liberal VVD and moderate socialist Democratisch Socialisten 1970 DS 70 , which had just split off from Dutch Labour Party PvdA . Problems of the cabinet were the release of war criminals three of Breda and the increasing inflation, combined with a stagnating economy stagflation . The decision to cut government expenses was not supported by DS 70, so the cabinet lost its majority in the parliament, resulting in Biesheuvel II. Minister Stuyt, the first minister for natural environment environmental affairs, issued an urgency note concerning the environment. In 1972, the first report from the Club of Rome was published, which showed that the environment is in a bad state worldwide and that resources will eventually run out. The cabinet recognised the GDR and voted to allow China into the United Nations . Source http www.parlement.com 9291000 modulesf g0cd3xw1 Commonscat Cabinet Biesheuvel I Cabinets of the Netherlands Category Cabinets of the Netherlands 1971 nl Kabinet Biesheuvel I ... more details
An online savings account OSA is a savings account managed and funded primarily on the Internet . Features OSAs are often characterized by a higher interest rate or lower fees, compared with traditional savings accounts. Many of these high yield accounts have no minimum balance. Account holders may link their OSAs to their existing external bank accounts for easy transfer of funds between multiple accounts. Some also offer ATM card s so customers can directly access the funds in their OSAs. Deposits and Withdrawals Some banks offering OSA s may not have bank branches and a customer may deposit funds into their account by either ACH transfer, mailing in a cheque , or direct deposit. To withdraw money, customers can initiate an ACH transfer into another account or sometimes request a cheque from the bank in the desired amount. Changes in banking and investing OSAs, combined with rising interest rate s, have made cash an increasingly attractive investment option. They provide a relatively low risk option for investors looking for a place to park their money, especially in uncertain economic times. Inflation , stagflation , recessionary fears and stock market volatility are among the economic indicators that have encouraged more and more investors to consider cash as a way to balance their portfolios. In fact, more than 8.5 million customers signed up for OSAs with leading U.S. banks in 2005 alone and some industry experts estimate the Online Savings Account market will triple in size, from 250 billion to 400 billion by 2010. ref comScore Networks ref ref Boston Consulting Group ref See also Direct bank Online banking Specific examples HSBC HSBC Direct HSBC Direct ING Group ING Direct ING Direct Notes references Category Banking technology Category Electronic commerce econ stub ... more details
. Books Weitzman has written two books The Share Economy Conquering Stagflation and Income, Wealth, and the Maximum Principal . In The Share Economy Conquering Stagflation , Weitzman proposes that a main cause of Stagflation is paying workers a fixed wage, regardless of how the company is performing. He introduces an alternate labor payment system as a way of combating stagflation. Income, Wealth ... more details
Agflation , a term coined in the late first decade of the 21st century, describes generalised inflation led by rises in Agricultural commodity prices. In the United States , agricultural prices are not generally factored into core inflation figures. The term describes a situation in which external i.e. Agricultural price rises drive up core inflation rates. It has been claimed that the term was invented by analysts at Merrill Lynch in early 2007. ref http www.247wallst.com 2007 05 cramer talks ag.html Cramer Talks Agflation , 24 7 Wall Street, May 08, 2007 ref See also 2007 2008 world food price rises Biflation De growth Inflation Hyperinflation Deflation Biofuels Stagflation References http www.economist.com displayStory.cfm?story id 9707029&fsrc RSS The agonies of agflation , Aug 25th 2007, From Economist.com. http www.investopedia.com terms a agflation.asp Agflation Investopedia. http www.thenews.com.pk daily detail.asp?id 105821 Agflation , The News Pakistan , Roofi Jamil, Wednesday, April 9, 2008. http www.rgemonitor.com latam monitor 621 global agflation energy security and bio fuels Global Agflation, Energy Security and Bio fuels , Otaviano Canuto, Latin America EconoMonitor. 23 February 2008. Reflist External links http www.reuters.com news globalcoverage agflation Reuters wire stories Global Coverage Agflation. http ipsnews.net news.asp?idnews 42134 IPS Inter Press Service article What Is Really Causing Agflation? http www.farmlandinvestmentpartnership.com investment.php farmlandinvestmentpartnership.com Agcapita Farmland Investing Overview http www.farmlandinvestmentpartnership.com pdfs FIP 20Financial 20Characteristics.pdf farmlandinvestmentpartnership.com Agcapita Farmland and Inflation Category Inflation Category 2007 in economics Category 2008 in economics Category Economic problems econ problem stub es Agflaci n ko no Agflasjon pl Agflacja ru ... more details
seealso Energy demand management Demand management is a planning methodology used to manage forecasted demand . Demand management in economics In economics , demand management is the art or science of controlling economic demand to avoid a recession . In natural resources management and environmental policy more generally, it refers to policies to control consumer demand for environmentally sensitive or harmful goods such as water and energy. Within manufacturing firms the term is used to describe the activities of demand forecasting, planning, and order fulfillment. In economics the term is also used to refer to management of the distribution of, and access to goods and services on the basis of needs. An example is social security and Welfare financial aid welfare services. Rather than increasing budgets for these things, governments may develop policies that allocate existing resources according a hierarchy of neediness. It is inspired by Keynes ian macroeconomics , though today elements of it are part of the economic mainstream. The underlying idea is for the government to use tools like interest rate s, taxation , and public expenditure to change key economic decisions like consumption economics consumption , investment , the balance of trade , and deficit public sector borrowing resulting in an evening out of the business cycle . Demand management was widely adopted in the 1950s to 1970s, and was for a time successful. However, it is widely regarded as a force behind the stagflation of the 1970s, though the supply shock caused by the 1973 oil crisis could have also caused that. Theoretical criticisms of demand management are that it relies on a long run Phillips Curve for which there is no evidence, and that it produces policy dynamic inconsistency and can therefore be non credible. Today, most governments relatively limit interventions in demand management to tackling short term crises, and rely on policies like central bank independent central bank s and Gold ... more details
curve s prediction. This stagflation meant that both expansionary anti recession and contractionary ... model Triangle Model , allow for stagflation, since the curve can shift due to supply ... more details
File 1973 75 recession.jpg right In the parlance of recession shapes , the Recession of 1973 75 in the United States could be considered a U shaped recession , because of its prolonged period of weak growth and contraction. ref name TBM Cite news url http www.thebigmoney.com articles explainer 2009 01 12 recession was brought you letters u v and l title This Recession Was Brought to You by the Letters U, V and L author Martha C. White date January 12, 2009 work The Big Money ref br Legend2 4682B4 Percent Change From Preceding Period in Real Gross Domestic Product annualized seasonally adjusted border 1px solid aaa Legend2 800000 Average GDP growth 1947 2009 border 1px solid aaa br Source Bureau of Economic Analysis left thumb 300px The 1973 75 recession in the United States or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the general post World War II economic boom . It differed from many previous recessions as being a stagflation , where high unemployment coincided with high inflation . The period was also described as one of malaise ill ease compare depression economics depression . Among the causes were the Vietnam War , which turned out to be costly, economically, for the United States of America , the 1973 oil crisis and the fall of the Bretton Woods system . ref History of the United States 1964 1980 Stagflation Stagflation ref The emergence of newly industrialized countries increased competition in the metal industry, triggering a steel crisis , where industrial core areas in North America and Europe were forced to re structure. Citation needed date January 2010 The 1973 1974 stock market crash made the recession evident. According to the National Bureau of Economic Research , the recession in the United States lasted from November 1973 to March 1975, ref name NBER cite web accessdate 2008 10 01 url http www.nber.org cycles.html title NBER Business Cycle Expansions and Contractions publish ... more details
The zero interest rate policy ZIRP is a macroeconomic concept describing conditions with a very low interest rate , such as contemporary Japan and, since December 16, 2008, the United States . It can be associated with slow economic growth. Under ZIRP, the central bank maintains a 0 nominal interest rate . The ZIRP is an important milestone in monetary policy because the central bank is no longer able to reduce nominal interest rates. Many economist s Citation needed date October 2010 believe that monetary policy becomes ineffective under ZIRP, because the central bank has no more tools left to stimulate borrowing. ZIRP is very closely related to the problem of a liquidity trap , where nominal interest rates cannot adjust downward at a time when the loanable funds market has not cleared. Some economists Citation needed date October 2010 argue that, when monetary policy hits the lower bound of the ZIRP, governments must use fiscal policy . The fiscal multiplier of government spending is expected to be larger when nominal interest rates are zero than they would be when nominal interest rates are above zero. Keynesian economics hold that the multiplier is above one, meaning government spending effectively boosts output. In his paper on this topic, Michael Woodford economist Michael Woodford finds that, in a ZIRP situation, the optimal policy for government is to spend enough in stimulus to cover the entire output gap . ref Woodford, Michael. Simple Analytics of the Government Expenditure Multiplier, NBER Working Paper 15714 http www.nber.org papers w15714. ref See also History of Federal Open Market Committee actions Federal funds rate Keynesian endpoint Liquidity trap Negative interest rate Quantitative easing Real interest rate Stagflation References reflist Further reading cite journal last Eggertsson first Gauti B. authorlink coauthors Woodford, Michael year 2003 month title The Zero Bound on Interest Rates and Optimal Monetary Policy journal Brookings Papers on Ec ... more details
Ian Shapiro , Ph.D. , Yale University , 1983, Juris Doctor J.D. , Yale Law School , 1987, is Sterling professor of political science and Henry R. Luce director of the Yale Center for International and Area Studies, now called the The Whitney and Betty MacMillan Center for International and Area Studies at Yale MacMillan Center . His research interests center on sociology sociological aspects of economics and political theorist political theory . In particular, he has written extensively on theories of justice , democracy , and resource distribution , and the prospects for sustainable democracy in countries emerging from authoritarianism authoritarian political systems. Shapiro has won several awards and fellowships, including election as a fellow of the American Academy of Arts and Sciences in 2000, the American Philosophical Society in 2008, and the Council on Foreign Relations in 2009. He has also taught at Oxford University Oxford and the University of Cape Town . ref cite web url http www.yale.edu polisci people ishapiro.html title Yale University Political Science Ian Shapiro date 2006 10 31 accessdate 2007 06 08 publisher Yale University ref Shapiro is co chair of the executive committee of the Future of American Democracy Foundation, a nonprofit, nonpartisan foundation in partnership with Yale University Press and the Yale Center for International and Area Studies, dedicated to research and education aimed at renewing and sustaining the historic vision of American democracy. ref cite web url http thefutureofamericandemocracyfoundation.org BioNG.html title The Future of American Democracy Foundation Foundation Officers year 2006 accessdate 2007 06 08 ref Works Stagflation and the New Right . http www.telospress.com Telos 56 Summer 1983 . New York Telos Press. The Evolution of Rights in Liberal Theory , Cambridge University Press 1986 ISBN 0 521 32043 7 Political Criticism , University of California Press 1990 ISBN 0 520 06672 3 Pathologies of Rational Choice T ... more details
orphan date January 2010 File Lauder Elsztain.jpg thumb 240px Eduardo Elsztain right with Ronald Lauder , President of the World Jewish Congress . Eduardo Elsztain born January 26, 1960 is a prominent Argentine businessman. Career Eduardo Sergio Elsztain was born in Buenos Aires in 1960. His grandfather, Isaac Elsztain, had founded Inversiones y Representaciones Sociedad An nima IRSA Inversiones y Representaciones S.A. Investments and Brokerage, Inc, or, IRSA in 1943 as an independent realty . The younger Elsztain graduated from the Colegio Nacional de Buenos Aires Buenos Aires National College , a prestigious public secondary school, and enrolled in the University of Buenos Aires School of Economics, though he dropped out in 1981 to join his grandfather s firm which was struggling at the time . Elsztain purchased the family firm for US 120,000 through a partnership with fellow Argentine Jew Marcelo Mindlin. A stay in New York in 1989 90 had introduced him to George Soros , and the international financier became a leading investor in IRSA. The partnership with Soros became profitable for both parties, as the Argentine economy recovered during the 1990s from the severe stagflation of the previous decade. IRSA entered the Private equity international equity market s with Soros backing in 1994, allowing it to enter the nation s lucrative Agriculture in Argentina agricultural sector by purchasing Cresud, a leading landowner of prime pampas agricultural land, in 1994. ref http www.fundinguniverse.com company histories Cresud SACIF y A Company History.html Funding Universe Cresud ref IRSA became a leading local real estate development firm during the 1990s, purchasing 13 up market Buenos Aires office buildings and a leading local shopping mall developer, Alto Palermo S.A. APSA . Through APSA, the group purchased Buenos Aires Design , Galer as Pac fico , Patio Bullrich , Patio Olmos , and a number of other leading Argentine shopping centers, as well as important tourist as ... more details
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