How to Combat Recession : stimulus without debt
By: Seidman, Laurence.
Publisher: New York Oxford University Press 2018Description: vi, 239p.ISBN: 9780190462178.Subject(s): Monetary Policy -- Recessions -- United StatesDDC classification: 339.520973 Summary: Recessions 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| Item type | Current location | Call number | Status | Date due | Barcode |
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NASSDOC Library | 339.520973 SEI-H (Browse shelf) | Available | 50239 |
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| 339.520954 FIS- Fiscal federalism in India | 339.520954 MIS-; Income redistribution through fiscal process in India | 339.520954 MIS-; Income redistribution through fiscal process in India | 339.520973 SEI-H How to Combat Recession | 339.5220954 SAR-; Economic impact of government expenditure: an analysis in input-output framework | 339.5230954 SIN-D Debt management in India | 339.53 BAR-; Monetary policy rule in theory and practice:facing the internal vs external stability dilemma |
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Recessions 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
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