Most Popular Books by Ben S. Bernanke

21st Century Monetary Policy takes readers inside the Federal Reserve, explaining what it does and why. In response to the COVID-19 pandemic, the Federal Reserve deployed an extraordinary range of policy tools that helped prevent the collapse of the financial system and the U.S. economy. Chair Jerome Powell and his colleagues lent directly to U.S. businesses, purchased trillions of dollars of government securities, pumped dollars into the international financial system, and crafted a new framework for monetary policy that emphasized job creation. These strategies would have astonished Powell’s late-20th-century predecessors, from William McChesney Martin to Alan Greenspan, and the advent of these tools raises new questions about the future landscape of economic policy. In 21st Century Monetary Policy, Ben S. Bernanke—former chair of the Federal Reserve and one of the world’s leading economists—explains the Fed’s evolution and speculates on its future. Taking a fresh look at the bank’s policymaking over the past seventy years, including his own time as chair, Bernanke shows how changes in the economy have driven the Fed’s innovations. He also lays out new challenges confronting the Fed, including the return of inflation, cryptocurrencies, increased risks of financial instability, and threats to its independence. Beyond explaining the central bank’s new policymaking tools, Bernanke also captures the drama of moments when so much hung on the Fed’s decisions, as well as the personalities and philosophies of those who led the institution.

From the winner of the 2022 Nobel Prize in Economics A New York Times Bestseller “A fascinating account of the effort to save the world from another [Great Depression]. . . . Humanity should be grateful.”—Financial Times In 2006, Ben S. Bernanke was appointed chair of the Federal Reserve, the unexpected apex of a personal journey from small-town South Carolina to prestigious academic appointments and finally public service in Washington’s halls of power. There would be no time to celebrate. The bursting of a housing bubble in 2007 exposed the hidden vulnerabilities of the global financial system, bringing it to the brink of meltdown. From the implosion of the investment bank Bear Stearns to the unprecedented bailout of insurance giant AIG, efforts to arrest the financial contagion consumed Bernanke and his team at the Fed. Around the clock, they fought the crisis with every tool at their disposal to keep the United States and world economies afloat. Working with two U.S. presidents, and under fire from a fractious Congress and a public incensed by behavior on Wall Street, the Fed—alongside colleagues in the Treasury Department—successfully stabilized a teetering financial system. With creativity and decisiveness, they prevented an economic collapse of unimaginable scale and went on to craft the unorthodox programs that would help revive the U.S. economy and become the model for other countries. Rich with detail of the decision-making process in Washington and indelible portraits of the major players, The Courage to Act recounts and explains the worst financial crisis and economic slump in America since the Great Depression, providing an insider’s account of the policy response.

"Should be required reading for all policy makers.” —Warren Buffett From the three primary architects of the American policy response to the worst economic catastrophe since the Great Depression, a magnificent big-picture synthesis--from why it happened to where we are now. In 2018, Ben Bernanke, Tim Geithner, and Hank Paulson came together to reflect on the lessons of the 2008 financial crisis ten years on. Recognizing that, as Ben put it, "the enemy is forgetting," they examine the causes of the crisis, why it was so damaging, and what it ultimately took to prevent a second Great Depression. And they provide to their successors in the United States and the finance ministers and central bank governors of other countries a valuable playbook for reducing the damage from future financial crises. Firefighting provides a candid and powerful account of the choices they and their teams made during the crisis, working under two presidents and with the leaders of Congress.

Few periods in history compare to the Great Depression. Stock market crashes, bread lines, bank runs, and wild currency speculation were worldwide phenomena--all occurring with war looming in the background. This period has provided economists with a marvelous laboratory for studying the links between economic policies and institutions and economic performance. Here, Ben Bernanke has gathered together his essays on why the Great Depression was so devastating. This broad view shows us that while the Great Depression was an unparalleled disaster, some economies pulled up faster than others, and some made an opportunity out of it. By comparing and contrasting the economic strategies and statistics of the world''s nations as they struggled to survive economically, the fundamental lessons of macroeconomics stand out in bold relief against a background of immense human suffering. The essays in this volume present a uniquely coherent view of the economic causes and worldwide propagation of the depression. -- Provided by publisher.

Avoiding excessive reliance on formal mathematical derivations, Frank and Bernanke presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforce them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles to answer related questions and exercises. The text also encourages students to become "Economic Naturalists," people who employ basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation.

How should governments and central banks use monetary policy to create a healthy economy? Traditionally, policymakers have used such strategies as controlling the growth of the money supply or pegging the exchange rate to a stable currency. In recent years a promising new approach has emerged: publicly announcing and pursuing specific targets for the rate of inflation. This book is the first in-depth study of inflation targeting. Combining penetrating theoretical analysis with detailed empirical studies of countries where inflation targeting has been adopted, the authors show that the strategy has clear advantages over traditional policies. They argue that the U.S. Federal Reserve and the European Central Bank should adopt this strategy, and they make specific proposals for doing so. The book begins by explaining the unique features and advantages of inflation targeting. The authors argue that the simplicity and openness of inflation targeting make it far easier for the public to understand the intent and effects of monetary policy. This strategy also increases policymakers'' accountability for inflation performance and can accommodate flexible, even "discretionary," monetary policy actions without sacrificing central banks'' credibility. The authors examine how well variants of this approach have worked in nine countries: Germany and Switzerland (which employ a money-focused form of inflation targeting), New Zealand, Canada, the United Kingdom, Sweden, Israel, Spain, and Australia. They show that these countries have typically seen lower inflation, lower inflation expectations, and lower nominal interest rates, and have found that one-time shocks to the price level have less of a "pass-through" effect on inflation. These effects, in turn, are improving the climate for economic growth. The authors warn, however, that the success of inflation targeting depends on operational details, such as how the targets are defined and when they are announced. They also show that inflation targeting is not a panacea that can make inflation perfectly predictable or reduce it without economic costs. Clear, balanced, and authoritative, Inflation Targeting is a groundbreaking study that will have a major impact on the debate over the right monetary strategy for the coming decades. As a unique comparative study of what central banks actually do in different countries around the world, this book will also be invaluable to anyone interested in how economic policy is made.

From the time of Vannevar Bush and World War II, academic research has played a role in the nation''s economy. Vannevar Bush, national science advisor to both Presidents Franklin Roosevelt and Harry Truman, stated that major investments in research should be made to the nation''s universities. His position was that the research capacity of colleges and universities was significantly important to long-term national interests. Currently, some Members of Congress have expressed concern about the health and competitiveness of U.S. colleges and universities, specifically research institutions. The nation''s current economic situation, debt, and budget deficit are placing increased focus on cutting discretionary spending, the source of funding for U.S. academic research. This book examines federal support for academic research with a focus on funding physical sciences and engineering research; and the U.S. National Science Foundation.

The success over the years in reducing inflation and, consequently, the average level of nominal interest rates has increased the likelihood that the nominal policy interest rate may become constrained by the zero lower bound. When that happens, a central bank can no longer stimulate aggregate demand by further interest-rate reductions and must rely on "non-standard" policy alternatives. To assess the potential effectiveness of such policies, we analyze the behavior of selected asset prices over short periods surrounding central bank statements or other types of financial or economic news and estimate "noarbitrage" models of the term structure for the United States and Japan. There is some evidence that central bank communications can help to shape public expectations of future policy actions and that asset purchases in large volume by a central bank would be able to affect the price or yield of the targeted asset.

Contents : Wage Inequality and Regional Unemployment Persistence: U.S. vs. Europe, Guiseppe BErtola and Andreas Ichino. Capital Utilization and Returns to Scale, Craig Burnside, Martin Eichenbaum, and Sergio Rebelo. Banks and Derivatives, Gary Gorton and Richard Rosen. Exchange-Rate-Based Stabilizations: Theory and Evidence, Sergio Rebelo and Carlos Vegh. Inflation Indicators and Inflation Policy, Stephen Cecchetti. Recent Central Bank Reforms and the Role of Price Stability as the Sole Objective of Monetary Policy, Carl Walsh. Is Central Bank Independence (and Low Inflation) the Result of Effective Financial Opposition to Inflation?, Adam Posen. The Unending Quest for Monetary Salvation, Stanley Fischer.

For courses in intermediate macroeconomics. Demonstrating a balanced treatment of both classical and Keynesian economics, Macroecomomics presents macroeconomic theory in a big-picture way. Comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi, and the text helps students analyse real macroeconomic data used by policy makers and researchers. This text takes a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions. The 10th Edition features new applications, boxes, and problems throughout. It also reflects recent events and developments in the field, such as the recent crisis in the US and Europe and the many new tools used by the Federal Reserve in response. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you''ll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

Current issues in macroeconomics.

Một cái nhìn “người trong cuộc” về hành trình chiến đấu chống lại cuộc khủng hoảng kinh tế chỉ đứng sau Đại Khủng hoảng về quy mô. Năm 2006, Ben S. Bernanke được bổ nhiệm làm Chủ tịch Cục Dự trữ Liên bang (FED), đỉnh cao bất ngờ của hành trình cá nhân từ thị trấn nhỏ Nam Carolina đến những cuộc gặp gỡ học thuật uy tín và cuối cùng là dịch vụ công tại hội trường quyền lực của Washington. Làm việc dưới hai thời tổng thống đúng vào thời điểm nền kinh tế Mỹ đang rơi vào khủng hoảng tài chính trầm trọng, Ben S. Bernanke đã dẫn dắt FED – và cùng các đồng nghiệp trong Bộ Tài chính ổn định thành công một hệ thống tài chính đang lên. Với sự sáng tạo và quyết đoán, họ đã ngăn chặn sự sụp đổ kinh tế ở quy mô không tưởng và tiếp tục xây dựng các chương trình không chính thống giúp vực dậy nền kinh tế Mỹ và trở thành mô hình cho các quốc gia khác. Một cuốn sách súc tích, chi tiết, đáng đọc đối với bất cứ ai quan tâm đến tài chính và kinh tế. Ben S. Bernanke đảm nhiệm vị trí Chủ tịch của Cục Dự trữ Liên bang (FED) từ năm 2006 đến năm 2014. Ông được tạp chí Time vinh danh là “Nhân vật của năm” vào năm 2009. Trước khi gắn bó với sự nghiệp dịch vụ công, ông là Giáo sư Kinh tế tại Đại học Princeton.

- Importante revisão sobre doença renal no idoso, nefropatia diabética, nefrologia intensiva e diálise.

En 2006, Ben S. Bernanke fue nombrado presidente de la Reserva Federal de Estados Unidos, el inesperado colofón de un viaje personal que había tenido como punto de partida un pequeño pueblo de Carolina del Sur, vivió un interludio sembrado de prestigiosos cargos académicos y parecía haber culminado con varios años de servicio en los pasillos del poder en Washington. No hubo demasiado tiempo para celebraciones. En 2007 estalló la burbuja inmobiliaria, dejando al descubierto las vulnerabilidades escondidas del sistema financiero global y llevándolo al borde de la catástrofe. Bernanke y su equipo de la Reserva Federal tuvieron que enfrentarse a la implosión del banco de inversiones Bear Sterns, al rescate financiero del gigante de los seguros AIG y al consiguiente contagio financiero. Como responsable del banco central estadounidense, Bernanke convivió con dos presidentes del Gobierno distintos, trabajó entre el fuego cruzado de un Congreso a la contra y aguantó la presión de una opinión pública indignada por el comportamiento de Wall Street. Al cabo, el organismo que presidía, codo a codo con el departamento del Tesoro, consiguió estabilizar el titubeante sistema financiero, evitando un derrumbe de inimaginable escala. Un retrato excepcional, escrito desde dentro, de la forma en que la política americana y, por contagio, la mundial encararon la mayor crisis desde la Gran Depresión.

En 2012, el presidente de la FED, Ben Bernanke, dio una serie de conferencias en la Universidad George Washington sobre la Reserva Federal y la crisis financiera de 2008 como parte de un curso sobre el papel de este banco central en la economía. En este evento, Bernanke, al que se le conoce como «Helicóptero Ben» por la facilidad con la que imprimía billetes desde el banco central, reveló datos importantes sobre las acciones cruciales de dicha institución durante la peor crisis financiera desde la Gran Depresión.Estas conferencias, transformadas en reveladores artículos, constituyen el legado que dejará Bernanke tras su paso por la FED, donde su mandato terminó el 31 de enero de 2014. En ellos, el economista examina los orígenes de la Reserva Federal, desde su creación en 1914 pasando por la segunda guerra mundial, y analiza la FED posterior a 1945, cuando empezó a operar de manera independiente de otros departamentos gubernamentales como el del Tesoro. Durante esta época, la FED tuvo que lidiar con episodios de inflación elevada, finalmente controlados por el entonces presidente, Paul Volcker. Bernanke también explora el periodo correspondiente al mandato de su predecesor, Alan Greenspan, conocido como la Gran Moderación.Asimismo, el autor ahonda en la reacción de la FED ante la reciente crisis financiera, centrándose en el papel del banco central como prestamista de última instancia y analizando las inyecciones de liquidez en el sistema bancario. En este sentido, termina señalando que la política monetaria no puede, por sí sola, reactivar la economía, y describe los problemas estructurales y normativos que siguen existiendo y deben afrontarse.

This book covers the essential topics of microeconomics while exploring the relationship between economics analysis and human behaviour, which, in this context, is of significant interest to today''s academic community. The clear narrative appeals to students, and the numerous examples help the development of economic intuition. The text introduces modern topics not often found in intermediate textbooks. Readers are encouraged to develop the distinctive mindset known as thinking like an economist.

This book is intended for the intermediate macroeconomics course. This book is also suitable for all readers interested in the field of macroeconomics. Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares students to analyze real macroeconomic data used by policy makers and researchers. With a balanced treatment of both classical and Keynesian economics, the comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi. Students in this course often struggle to see how the macroeconomic models compare to one another, and fit into the big picture. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions. The main objective of the eighth edition is to keep the book fresh and up-to-date, especially in light of the recent crises in the United States and Europe and many new tools used by the Federal Reserve in response to the crisis. To reflect recent events and developments in the field, revisions have been made throughout the text, and additional new applications, boxes, and problems are included. Note: this is the standalone book, if you want the book/access card order the ISBN below: MyEconLab is not a self-paced technology and should only be purchased when required by an instructor 0133407926 / 9780133407921 Macroeconomics Plus NEW MyEconLab with Pearson eText -- Access Card Package Package consists of: 0132992280 / 9780132992282 Macroeconomics 0132993325 / 9780132993326 NEW MyEconLab with Pearson eText -- Access Card -- for Macroeconomics