Inflation and the making of Australian macroeconomic policy, 1945-85. (2015)

• Record Type: Book
• Further Information: Note: Michael Beggs.
• Authors: Beggs, Michael, 1979-
• Contents: Contents; 1. Inflation, The State And Economic Policy; 1.1. Fighting Inflation First; 1.1.1. The Origin Myth Of The 'New Macroeconomic Consensus'; 1.1.2. From 'Keynesianism' To 'Neoliberalism'; 1.2. Explaining Policy; 1.2.1. Economic Policy As An Emergent Strategic Agent; 1.2.2. Thinking Like A State About Political-Economic Tensions; 1.2.3. Inflation As A Policy Problem; 1.3. The Structure Of This Book; 1.3.1. The Long 1950s; 1.3.2. The Long 1970s; Part I: The Long 1950s; 2. 'External Balance' And The Counter-Inflationary Imperative; 2.1. Internalising External Balance; 2.1.1. A Conflict Foretold; 2.1.2. 'A Balance Of Hopes And Desires': Bretton Woods Shapes The Constraint; 2.1.3. Swan's Way: A Contemporary Model Of Policy Coherence; 2.2. Beyond Swan; 2.2.1. The Stylised Facts; 2.2.2. The Period As A Whole; 2.2.3. Breaking Down The Period; 2.2.4. Capital Inflow And Wool Boom: To 1950/51; 2.2.5. Recurring Crisis: 1951/52-1960/61; 2.2.6. The Reprieve: 1961/62-64/65; 2.3. Rules And Strategies Of The Game; 3. Inflation And The Keynesianism Of Restraint; 3.1. In Everybody's Interest; 3.2. The Making Of Fiscal Policy; 3.2.1. To The 'Horror Budget'; 3.2.2. Fiscal Policy In The Fifties; The 'Horror Budget' In Perspective; Another Round Of Restraint: Mid-1950s; Credit Squeeze And Aftermath: Early 1960s; 3.3. Inflation Theory In The 1950s; 3.3.1. Towards Dynamics; 3.3.2. Cost-Push, Demand-Pull, Wages And Distributional Struggle; 3.4. Targeting Wages; 3.5. Phillips In Melbourne; 3.6. A Period Of Calm; 4. From The 'Battle For The Banks' To The 'Credit Sqeeze': Monetary Policy In The Long 1950s ?; 4.1. An Unusual History; 4.2. Boundaries And Strategies; 4.2.1. The Mystery Element In Monetary Policy; 4.2.2. Banks And Markets; 4.3. Strengthening The Chain; 4.3.1. Lessons Of The Wool Boom; 4.3.2. Pursuing A Liquidity Norm; 4.4. Beyond The Banks; 4.4.1. The Finance Companies And The Birth Of The Money Market; 4.4.2. The 'Credit Squeeze' And New Strategy; 4.5. Concusion; Part II: The Long 1970s; 5. From Bretton Woods To The Float; 5.1. Constraint Changes Form; 5.2. From 'The Balance-Of-Payments Constraint' To 'Imported Inflation'; 5.2.1. Footnotes To Swan; 5.2.2. The Constraint Relaxes; 5.2.3. 'Imported Inflation'; 5.3. Capital Flows And Macroeconomic Policy; 5.3.1. The Canadian Contribution To Balance-Of-Payments Theory; 5.3.2. The Monetary Approach To The Balance Of Payments; 5.3.3. Capital Flows And Monetary Policy In The Early 1970s; 5.4. Flexible Exchange Rates; 5.4.1. High-Dollar Discipline And Its Enemies: January 1973-November 1976; 5.4.2. Towards The Float: November 1976-December 1983; 5.5. The Float In Retrospect; 6. Inflation And Macroeconomic Policy In The Long 1970s; 6.1. Introduction; 6.2. Demand Policy, Inflation And Unemployment; 6.2.1. An Overview Of Fiscal Policy In The Long 1970s; 6.3. Augmenting The Phillips Curve; 6.3.1. Australian Natural-Rate Expectations-Augmented Phillips Curve Studies ?; 6.4. Distributional Conflict And 'Fighting Inflation First'; 6.4.1. Incomes Policy; 6.5 Conclusion; 7. Stengthening The Central Bank; 7.1. Introduction; 7.2. Banks, Markets And Monetary Policy Into The 1970s; 7.2.1. Policy, Banks And Markets; 7.2.2. Market Development In The 1960s And 1970s; 7.2.3. Policy Eclecticism; 7.3. 'Through Fire Or Over Ground Which Moves': Monetarism In Australia; 7.3.1. Long And Variable Lags: Monetarism And The Econometricians; 7.3.2. Implementing The Targets; 7.4. Towards Deregulation; Conclusion; 8.1. A Long View; 8.1.1. Managed Money; 8.1.2. A 'Labour Standard'?; 8.1.3. Mutations Of 'Mnaged Money' In Australia; 8.2. The Accord Alternative?; 8.2.1. The Accord In Action; 8.2.2. The Accord As Qualitative Policy; 8.3. Conclusion; Bibliography
• Publisher Details: Basingstoke : Palgrave Macmillan
• Publication Date: 2015
• Extent: 1 online resource, illustrations
• Subjects: 339.5099409045; Inflation (Finance) -- Australia -- History -- 20th century; Monetary policy -- Australia -- History -- 20th century; Economic History; Labor; Economics/Macroeconomics; Labour economics; Macroeconomics; Economics; Economic history; Australia -- Economic policy
• Languages: English
• ISBNs: 9781137265982; 1137265981
• Related ISBNs: 9781137265968
• Notes: Note: Includes bibliographical references and index.
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.