Recession and Its Aftermath

Adjustments in the United States, Australia, and the Emerging Asia

Editors: Verma, NMP (Ed.)

  • Fresh contributions on the topic of recession and its control in many economies which include the US, Australia, and the core Asian countries
  • Analysis of conceptual and measurement issues on recession and business cycle
  • Impact analysis of banking and financial crisis
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About this book

Market failure at medium intervals is inevitable in a capitalist economy. Such failures may not be seriously seen in the short run because market adjusts demand through hoarding of inventory or import of required goods and services. The market also adjusts demand in the long run through expansion of concerned industrial output and also by the entry of new firms. The crucial variable is price which also adjusts the commodity and the labor market. The problem comes when there are issues of overproduction, over capacity utilization of plants, over liquidation and excess supply of money, change in demand because of change in tastes and habits of consumers, households and the public. All these create knife edge disturbances in the economy. As a consequence they need adjustment through some variables such as employment and growth of population, saving propensity, technology, exhaustion of existing inventory, monetary and fiscal balancing. In this volume an attempt has been made to appraise the working of a market economy where short term disturbances may occur, market efficiency reduces, recessionary cycle emerges and after certain fundamental measures the market recovers. Starting with a brief recent history of the crisis and the recession, discussions in this volume turn to how deliberations in macroeconomics yield implications for specific policies, some of which have been tried and others still to be tested. Further in the volume we propose policies necessary for efficient regulation of the economic system, and give a brief assessment of the extent to which global policy coordination has been mulled in policy circles even if these are not seriously practiced.

About the authors

N.M.P. Verma is a senior Professor of Economics at Babasaheb Bhimrao Ambedkar University, Lucknow, India. He has a very long teaching and research career. He has specialized in the area of macro, industry, and development economics. He has authored many books and extensively contributed papers in professional peer reviewed journals of national and international repute. He is also on the editorial board of International Journal of Economics and Finance, Canada and International Journal of Economics and Business Modeling, Mumbai, India. He has done research for University Grants Commission, Government of India, Indian Council of Social Science Research, World Meteorological Organization, Geneva and other agencies. He has served on several coveted positions including Vice Chancellor of the University. He is also the recipient of ‘Rajiv Gandhi Excellence’ Award, ‘Bharat Jyoti’ Award and ‘Best Citizens of India’ Award.

Table of contents (11 chapters)

  • Understanding Recession: Conceptual Arguments and US Adjustments

    Verma, N. M. P. (et al.)

    Pages 1-22

  • The Financial Crisis and the Great Recession in the United States

    Upadhyay, Mukti (et al.)

    Pages 23-45

  • Dynamics of Deflation and Unemployment: Fall into an Abyss of Depression

    Wong, Anson (et al.)

    Pages 47-66

  • Market Fluctuations and Country Risk Relationships for Australian and Indian Energy

    Simpson, John

    Pages 67-80

  • The Chinese Economy After the Global Crisis

    Li, Liang-Xin

    Pages 81-111

Buy this book

eBook $149.00
price for USA (gross)
  • ISBN 978-81-322-0532-6
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $189.00
price for USA
  • ISBN 978-81-322-0531-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $189.00
price for USA
  • ISBN 978-81-322-1721-3
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Recession and Its Aftermath
Book Subtitle
Adjustments in the United States, Australia, and the Emerging Asia
Editors
  • NMP Verma
Copyright
2013
Publisher
Springer India
Copyright Holder
Springer India
eBook ISBN
978-81-322-0532-6
DOI
10.1007/978-81-322-0532-6
Hardcover ISBN
978-81-322-0531-9
Softcover ISBN
978-81-322-1721-3
Edition Number
1
Number of Pages
XX, 268
Topics