Book description
A comprehensive account of how government deficits and debt drive inflation Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less spending. Inflation breaks out when people don't expect the government to fully repay its debts. The fiscal theory is well suited to today's economy: Financial innovation undermines money demand, and central banks don't control the money supply or aggressively change interest rates, invalidating classic theories, while large debts and deficits threaten inflation and constrain monetary policy. This book presents a comprehensive account of this important theory from one of its leading developers and advocates. John Cochrane aims to make fiscal theory useful as a conceptual framework and modeling tool, and for analyzing history and policy. He merges fiscal theory with standard models in which central banks set interest rates, giving a novel account of monetary policy. He generalizes the theory to explain data and make realistic predictions. For example, inflation decreases in recessions despite deficits because discount rates fall, raising the value of debt; specifying that governments promise to partially repay debt avoids classic puzzles and allows the theory to apply at all times, not just during periods of high inflation. Cochrane offers an extensive rethinking of monetary doctrines and institutions through the eyes of fiscal theory, and analyzes the era of zero interest rates and post-pandemic inflation. Filled with research by Cochrane and others, The Fiscal Theory of the Price Level offers important new insights about fiscal and monetary policy.
LyRz
The sleek design and easy navigation are visually pleasing and user-friendly. Thank you for making my reading goals more achievable and enjoyable. Seamless audiobook integration – this app's design is a true delight. Drag and drop downloads directly from my web browser? That's a level of convenience I appreciate. Listening statistics motivate me to read more. Excellent feature!
Palomino Cake
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Twix Esses
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Swerve
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Iron Jesus
Thanks to ListenBook's automatic extraction of artwork and metadata, my library looks organized and appealing. The app's support for CarPlay and Apple Watch makes it a true companion for all occasions. I love how ListenBook makes it easy to organize my audiobook library. The app supports all formats, and the import process is a breeze. The playback controls are responsive, and the sound quality is excellent. Highly recommend!
Snow Cream
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Deano
The controls on ListenBook are intuitive and user-friendly, making it a joy to navigate through my audiobooks. I'm on a literary adventure wherever I go, all thanks to this app. Its extensive format support and effortless navigation make audiobook listening a breeze. 🌟📚 ListenBook's loop and shuffle playback features have become indispensable tools in my audiobook learning. ListenBook’s interface is clean and intuitive. It’s a joy to use.
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InfinityInsight
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M8deUp
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Roma Kabuki
The app's features, like the sleep timer, make it clear that it's designed with readers in mind. ListenBook has made my commutes more enjoyable, transforming them into learning sessions. Binaural audio processing is a godsend. My ears don't fatigue even during extended listening. CUE playlist support is a fantastic feature that allows me to curate themed listening sessions, creating a dynamic and engaging audiobook experience.
Playing a wide variety of audio formats
Works on all devices with iOS 13 and newer
Huge amount of features for a small price
Frequent updates to add new features and improve existing ones
Advanced playback controls
Live sound processing
Changing the timbre of the reader's voice and noise reduction
Translated into more than 20 languages
If you love listening to fiction audiobooks, ListenBook has features to make the process easier.
Edit book data: title, author, cover
Use equalizer to make the sound comfortable for you
Adjust the playback speed
Enjoy dark and light app themes
Supported formats: MP3, M4B, AWB, FLAC, OGG audio files and many more (must be DRM free)
Auto-Bookmarks make it easy to find your place
AirPlay support allows redirection of audio output.
VoiceOver support
Dark mode for night owls
Convenient bookmarking system helps you mark the most important places.
Unlimited bookmarks for each audiobook
Put your own cover on the wager
Share your audiobook with friends
Lock-screen control
Customise app with extensive options
Sleep timer with shake to reset, set custom notification sounds, and a few unique options
Auto rewind depending on paused time, customize rewind times to your liking
Removing background noise from recordings made in classrooms and meetings
Changing the timbre of the reader's voice for a better listening experience