The Post-Bubble US Economy

1. Front Matter

   Pages i-xxiv

   PDF

2. Introduction

   • Philip Arestis, Elias Karakitsos

   Pages 1-16

3. The Causes and Consequences of the Post-‘New Economy’ Bubble

   • Philip Arestis, Elias Karakitsos

   Pages 17-33

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

   • Philip Arestis, Elias Karakitsos

   Pages 34-65

5. Corporate Profits and Relationship to Investment

   • Philip Arestis, Elias Karakitsos

   Pages 66-100

6. Long-term Risks to Investment Recovery

   • Philip Arestis, Elias Karakitsos

   Pages 101-135

7. The Housing Market and Residential Investment

   • Philip Arestis, Elias Karakitsos

   Pages 136-166

8. Long-term Risks of Robust Consumer Behaviour

   • Philip Arestis, Elias Karakitsos

   Pages 167-205

9. Foreign Demand

   • Philip Arestis, Elias Karakitsos

   Pages 206-234

10. The US External Imbalance and the Dollar: A Long-term View

    • Philip Arestis, Elias Karakitsos

    Pages 235-263

11. The Long-term Risks to US Financial Markets

    • Philip Arestis, Elias Karakitsos

    Pages 264-287

12. Back Matter

    Pages 288-301

    PDF

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. 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. The risks and long-term prospects for the economy and financial markets are also examined.

• consumer
• financial markets
• monetary policy

• University of Cambridge and Levy Economics Institute, UK

  Philip Arestis

• Cambridge Centre for Economic and Public Policy, University of Cambridge, UK

  Elias Karakitsos

PHILIP ARESTIS is a Professor at the Cambridge Centre for Economic and Public Policy, University of Cambridge, 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 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.

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