Book contents
- US Business Cycles 1954–2020
- US Business Cycles 1954–2020
- Copyright page
- Contents
- Figures
- Tables
- Preface
- Acknowledgments
- 1Introduction
- 2Theoretical Foundation aka What Causes Business Cycles?
- 3Additional Factors
- 4US Business Cycles 1954 through 2020
- 5Policy and Conclusions
- Appendix: Critical Survey of Business Cycle Theories
- References
- Index
3 - Additional Factors
Inflation, Monetary and Fiscal Policy, the Stock Market, and Secular Stagnation
Published online by Cambridge University Press: 22 December 2025
Book contents
- US Business Cycles 1954–2020
- US Business Cycles 1954–2020
- Copyright page
- Contents
- Figures
- Tables
- Preface
- Acknowledgments
- 1Introduction
- 2Theoretical Foundation aka What Causes Business Cycles?
- 3Additional Factors
- 4US Business Cycles 1954 through 2020
- 5Policy and Conclusions
- Appendix: Critical Survey of Business Cycle Theories
- References
- Index
Summary
Chapter 3 tackles issues that are not necessarily directly related to the business cycle but will be important at various points in the historical section of the volume that covers every US business cycle since 1954. These include inflation, monetary policy, fiscal policy, tradeable securities, and secular stagnation. Because it is so poorly understood and since it will play a key role in the cycles of the 1970s and 1980s, more than half of this space is devoted solely to understanding inflation. The idea that it is a function of money supply growth is challenged, and a new set of definitions and classifications is offered.
Information
- Type
- Chapter
- Information
- US Business Cycles 1954–2020Sources, Symptoms, Solutions, pp. 35 - 52Publisher: Cambridge University PressPrint publication year: 2025
Accessibility standard: Inaccessible, or known limited accessibility
Why this information is here
This section outlines the accessibility features of this content - including support for screen readers, full keyboard navigation and high-contrast display options. This may not be relevant for you.Accessibility Information
The HTML of this chapter is known to have missing or limited accessibility features. We may be reviewing its accessibility for future improvement, but final compliance is not yet assured and may be subject to legal exceptions. If you have any questions, please contact accessibility@cambridge.org.
Content Navigation
Table of contents navigation
Allows you to navigate directly to chapters, sections, or non‐text items through a linked table of contents, reducing the need for extensive scrolling.
Allows you to navigate directly to chapters, sections, or non‐text items through a linked table of contents, reducing the need for extensive scrolling.
Index navigation
Provides an interactive index, letting you go straight to where a term or subject appears in the text without manual searching.
Provides an interactive index, letting you go straight to where a term or subject appears in the text without manual searching.
Reading Order & Textual Equivalents
Single logical reading order
You will encounter all content (including footnotes, captions, etc.) in a clear, sequential flow, making it easier to follow with assistive tools like screen readers.
You will encounter all content (including footnotes, captions, etc.) in a clear, sequential flow, making it easier to follow with assistive tools like screen readers.
Structural and Technical Features
ARIA roles provided
You gain clarity from ARIA (Accessible Rich Internet Applications) roles and attributes, as they help assistive technologies interpret how each part of the content functions.
You gain clarity from ARIA (Accessible Rich Internet Applications) roles and attributes, as they help assistive technologies interpret how each part of the content functions.