The Post ‘Great Recession’ US Economy

1. Front Matter

   Pages i-xxiv

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2. Introduction

   • Philip Arestis, Elias Karakitsos

   Pages 1-22

3. The Causes and Consequences of the Internet Bubble

   • Philip Arestis, Elias Karakitsos

   Pages 23-40

4. The Current Financial Crisis and the Origins of Excessive Liquidity

   • Philip Arestis, Elias Karakitsos

   Pages 41-57

5. Wages and Prices and the Proper Conduct of Monetary Policy

   • Philip Arestis, Elias Karakitsos

   Pages 58-96

6. Corporate Profits and Relationship to Investment

   • Philip Arestis, Elias Karakitsos

   Pages 97-119

7. Long-Term Risks to Investment Recovery

   • Philip Arestis, Elias Karakitsos

   Pages 120-149

8. The Housing Market and Residential Investment

   • Philip Arestis, Elias Karakitsos

   Pages 150-178

9. Long-Term Risks of Robust Consumer Behaviour

   • Philip Arestis, Elias Karakitsos

   Pages 179-211

10. Foreign Demand

    • Philip Arestis, Elias Karakitsos

    Pages 212-238

11. The US External Imbalance and the Dollar: A Long-Term View

    • Philip Arestis, Elias Karakitsos

    Pages 239-272

12. The Long-Term Risks to US Financial Markets

    • Philip Arestis, Elias Karakitsos

    Pages 273-302

13. Back Matter

    Pages 303-327

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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.

• consumer
• financial markets
• monetary policy

PHILIP ARESTIS is Honorary Senior Departmental Fellow, Cambridge Centre for Economic and Public Policy (CCEP), Department of Land Economics, University of Cambridge, UK; Professor of Economics, Department of Applied Economics V, University of the Basque Country, Spain; and Senior Research Fellow at the Levy Institute, New York City. His Publications include Introducing Macroeconomic Modelling: An Econometric Study of the United Kingdom and Money, Pricing Distribution and Economic Integration. He has been editor and joint editor, and has served on the editorial board, of a number of journals.

ELIAS KARAKITSOS is Director of Guildhall Asset Management, chairman of Global Economic Research, and Associate Member of the Centre for Economic and Pubic Policy, University of Cambridge. He was a professor at Imperial College, Head of Economics for 10 years and has acted as an advisor to governments and financial institutions, including Citibank, Oppenheimer, Allianz, Crédit Agricole and Standard Chartered. He is the author of five books/monographs, 90 papers in learned journals and more than 330 reports on financial markets. 

 

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