The Post 'Great Recession' US Economy Implications for Financial Markets and the Economy

by Arestis, Philip; Karakitsos, Elias

• ISBN13: 9780230229075
• ISBN10: 0230229077
• Edition: 2nd
• Format: Paperback
• Publisher: Palgrave Macmillan

Summary

The US is slowly recovering from the aftermath of the burst of the 'new economy' bubble - which was one of the worst in monetary history. In this updated edition, Philip Arestis and Elias Karakitsos examine the causes and consequences of the burst of the 'new economy' bubble and investigate the impact on financial markets.

Author Biography

PHILIP ARESTIS is a Professor at the Cambridge Centre for Economic and Public Policy, University of Cambridge, UK, and Senior Research Fellow at the Levy Institute, New York City.

ELIAS KARAKITSOS is at Global Economic Research. He has previously acted as an economic and investment advisor to many institutional investors, including Citibank/Citicorp, Oppenheimer, Allianz, Nestle and Abbey National.

 

Table of Contents

Prolegomena
Preface
Introduction
The Causes and Consequences of the Internet Bubble
The Current Financial Crisis and the Origins of Excessive Liquidity
Wages and Prices and the Proper Conduct of Monetary Policy
Corporate Profits and Relationship to Investment
Long-Term Risks of Investment Recovery
The Housing Market and Residential Investment
Long-Term Risks of Robust Consumer Behaviour
Foreign Demand
The US External Imbalance and the Dollar: A Long-Term View
The Long-term Risks to Financial Markets
Bibliography