Modeling Monetary Economies

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Modeling Monetary Economies

Bruce Champ,Scott Freeman,Joseph H. Haslag
Modeling Monetary Economies Book PDF

Author : Bruce Champ,Scott Freeman,Joseph H. Haslag
Publisher : Cambridge University Press
Page : 407 pages
File Size : 41,9 Mb
Release : 2016
Category : Money
ISBN : 9781107145221

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Modeling Monetary Economies by Bruce Champ,Scott Freeman,Joseph H. Haslag Pdf

"Too often monetary economics has been taught as a collection of facts about institutions for students to memorize. By teaching from first principles instead, this advanced undergraduate textbook builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. Starting with the case in which trade is mutually beneficial, the book demonstrates that money makes people better off, and that government money competes against other means of payments, including other types of government money. After developing each of these topics, the book tackles the issue of money competing against other stores of value, examining issues associated with trade, finance, and modern banking. The book then moves from simple economies to modern economies, addressing the role banks play in making more trades possible, concluding with the information problems plaguing modern banking, which result in financial crises"--

General Equilibrium Models of Monetary Economies

Ross M. Starr
General Equilibrium Models of Monetary Economies Book PDF

Author : Ross M. Starr
Publisher : Academic Press
Page : 364 pages
File Size : 52,6 Mb
Release : 2014-05-10
Category : Business & Economics
ISBN : 9781483273518

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General Equilibrium Models of Monetary Economies by Ross M. Starr Pdf

General Equilibrium Models of Monetary Economies: Studies in the Static Foundations of Monetary Theory is a collection of essays that addresses the integration of the theory of money and the theory of value by using a mathematical general equilibrium theory. The papers discuss monetary theory, microeconomic theory, bilateral trade, transactions costs, intertemporal allocation, and the value of money. The Arrow-Debreu model of Walrasian general equilibrium theory provides a framework to represent money as a device for facilitating trade among economic agents without the use of money as a medium of exchange and as a store of value. The essays analyze the rationale for using a medium of exchange, for using a store of value, and for holding of idle balances in equilibrium. The essays show that by explicit modeling of the structure and difficulties of trade, a powerful class of models which deny money and finance a role in the economy, has by itself shown to have provided the foundation for the structures of trade. The collection will prove helpful for economists, statistician, mathematicians, students or professors of economics and business.

Monetary Economics

W. Godley,M. Lavoie
Monetary Economics Book PDF

Author : W. Godley,M. Lavoie
Publisher : Springer
Page : 530 pages
File Size : 50,8 Mb
Release : 2006-12-01
Category : Business & Economics
ISBN : 9780230626546

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Monetary Economics by W. Godley,M. Lavoie Pdf

This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how it is institutions which create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.

Monetary Economics

W. Godley,M. Lavoie
Monetary Economics Book PDF

Author : W. Godley,M. Lavoie
Publisher : Springer
Page : 530 pages
File Size : 45,9 Mb
Release : 2016-04-30
Category : History
ISBN : 9781137085993

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Monetary Economics by W. Godley,M. Lavoie Pdf

This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how institutions create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.

Monetary Theory and Policy

Carl E. Walsh
Monetary Theory and Policy Book PDF

Author : Carl E. Walsh
Publisher : MIT Press
Page : 636 pages
File Size : 49,8 Mb
Release : 2003
Category : Business & Economics
ISBN : 0262232316

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Monetary Theory and Policy by Carl E. Walsh Pdf

An overview of recent theoretical and policy-related developments in monetary economics.

Economics with Heterogeneous Interacting Agents

Alessandro Caiani,Alberto Russo,Antonio Palestrini,Mauro Gallegati
Economics with Heterogeneous Interacting Agents Book PDF

Author : Alessandro Caiani,Alberto Russo,Antonio Palestrini,Mauro Gallegati
Publisher : Springer
Page : 205 pages
File Size : 40,9 Mb
Release : 2016-09-21
Category : Business & Economics
ISBN : 9783319440583

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Economics with Heterogeneous Interacting Agents by Alessandro Caiani,Alberto Russo,Antonio Palestrini,Mauro Gallegati Pdf

This book offers a practical guide to Agent Based economic modeling, adopting a “learning by doing” approach to help the reader master the fundamental tools needed to create and analyze Agent Based models. After providing them with a basic “toolkit” for Agent Based modeling, it present and discusses didactic models of real financial and economic systems in detail. While stressing the main features and advantages of the bottom-up perspective inherent to this approach, the book also highlights the logic and practical steps that characterize the model building procedure. A detailed description of the underlying codes, developed using R and C, is also provided. In addition, each didactic model is accompanied by exercises and applications designed to promote active learning on the part of the reader. Following the same approach, the book also presents several complementary tools required for the analysis and validation of the models, such as sensitivity experiments, calibration exercises, economic network and statistical distributions analysis. By the end of the book, the reader will have gained a deeper understanding of the Agent Based methodology and be prepared to use the fundamental techniques required to start developing their own economic models. Accordingly, “Economics with Heterogeneous Interacting Agents” will be of particular interest to graduate and postgraduate students, as well as to academic institutions and lecturers interested in including an overview of the AB approach to economic modeling in their courses.

Innovations in Macroeconomics

Paul J.J. Welfens
Innovations in Macroeconomics Book PDF

Author : Paul J.J. Welfens
Publisher : Springer Science & Business Media
Page : 432 pages
File Size : 55,9 Mb
Release : 2007-03-06
Category : Business & Economics
ISBN : 9783540682165

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Innovations in Macroeconomics by Paul J.J. Welfens Pdf

Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. This book presents a new link between monetary analysis and growth modelling in open economies. Structural change, innovations and growth are considered from a new perspective. With respect to economic policy - in particular innovation policy - the analysis implies major changes, concerning both EU countries and other leading OECD economies.

Risk Topography

Markus Brunnermeier,Arvind Krishnamurthy
Risk Topography Book PDF

Author : Markus Brunnermeier,Arvind Krishnamurthy
Publisher : University of Chicago Press
Page : 288 pages
File Size : 50,7 Mb
Release : 2014-10-17
Category : Business & Economics
ISBN : 9780226092645

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Risk Topography by Markus Brunnermeier,Arvind Krishnamurthy Pdf

The recent financial crisis and the difficulty of using mainstream macroeconomic models to accurately monitor and assess systemic risk have stimulated new analyses of how we measure economic activity and the development of more sophisticated models in which the financial sector plays a greater role. Markus Brunnermeier and Arvind Krishnamurthy have assembled contributions from leading academic researchers, central bankers, and other financial-market experts to explore the possibilities for advancing macroeconomic modeling in order to achieve more accurate economic measurement. Essays in this volume focus on the development of models capable of highlighting the vulnerabilities that leave the economy susceptible to adverse feedback loops and liquidity spirals. While these types of vulnerabilities have often been identified, they have not been consistently measured. In a financial world of increasing complexity and uncertainty, this volume is an invaluable resource for policymakers working to improve current measurement systems and for academics concerned with conceptualizing effective measurement.

Monetary Policy, Inflation, and the Business Cycle

Jordi Galí
Monetary Policy Inflation and the Business Cycle Book PDF

Author : Jordi Galí
Publisher : Princeton University Press
Page : 295 pages
File Size : 52,8 Mb
Release : 2015-06-09
Category : Business & Economics
ISBN : 9781400866274

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Monetary Policy, Inflation, and the Business Cycle by Jordi Galí Pdf

The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts

Monetary Economics

Jagdish Handa
Monetary Economics Book PDF

Author : Jagdish Handa
Publisher : Routledge
Page : 872 pages
File Size : 54,8 Mb
Release : 2008-09-18
Category : Business & Economics
ISBN : 9781135981839

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Monetary Economics by Jagdish Handa Pdf

This successful text, now in its second edition, offers the most comprehensive overview of monetary economics and monetary policy currently available. It covers the microeconomic, macroeconomic and monetary policy components of the field. Major features of the new edition include: Stylised facts on money demand and supply, and the relationships between monetary policy, inflation, output and unemployment in the economy. Theories on money demand and supply, including precautionary and buffer stock models, and monetary aggregation. Cross-country comparison of central banking and monetary policy in the US, UK and Canada, as well as consideration of the special features of developing countries. Monetary growth theory and the distinct roles of money and financial institutions in economic growth in promoting endogenous growth. This book will be of interest to teachers and students of monetary economics, money and banking, macroeconomics and monetary policy.

Handbook of Monetary Economics 3A

Anonim
Handbook of Monetary Economics 3A Book PDF

Author : Anonim
Publisher : Elsevier
Page : 752 pages
File Size : 47,5 Mb
Release : 2010-12-08
Category : Business & Economics
ISBN : 9780080932705

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Handbook of Monetary Economics 3A by Anonim Pdf

What tools are available for setting and analyzing monetary policy? World-renowned contributors examine recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship. Explores the models and practices used in formulating and transmitting monetary policies Raises new questions about the volume, price, and availability of credit in the 2007-2010 downturn Questions fiscal-monetary connnections and encourages new thinking about the business cycle itself Observes changes in the formulation of monetary policies over the last 25 years

A Course in Monetary Economics

Benjamin Eden
A Course in Monetary Economics Book PDF

Author : Benjamin Eden
Publisher : John Wiley & Sons
Page : 424 pages
File Size : 40,8 Mb
Release : 2008-04-15
Category : Business & Economics
ISBN : 9780470752005

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A Course in Monetary Economics by Benjamin Eden Pdf

A Course in Monetary Economics is an insightful introduction to advanced topics in monetary economics. Accessible to students who have mastered the diagrammatic tools of economics, it discusses real issues with a variety of modeling alternatives, allowing for a direct comparison of the implications of the different models. The exposition is clear and logical, providing a solid foundation in monetary theory and the techniques of economic modeling. The inventive analysis explores an extensive range of topics including the optimum quantity of money, optimal monetary and fiscal policy, and uncertain and sequential trade models. Additionally, the text contains a simple general equilibrium version of Lucas (1972) confusion hypothesis, and presents and synthesizes the results of recent empirical work. The text is rooted in the author's years of teaching and research, and will be highly suitable for monetary economics courses at both the upper-level undergraduate and graduate levels.

Complex-Valued Modeling in Economics and Finance

Sergey Svetunkov
Complex Valued Modeling in Economics and Finance Book PDF

Author : Sergey Svetunkov
Publisher : Springer Science & Business Media
Page : 330 pages
File Size : 54,8 Mb
Release : 2012-12-14
Category : Business & Economics
ISBN : 9781461458760

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Complex-Valued Modeling in Economics and Finance by Sergey Svetunkov Pdf

Complex-Valued Modeling in Economics and Finance outlines the theory, methodology, and techniques behind modeling economic processes using complex variables theory. The theory of complex variables functions is widely used in many scientific fields, since work with complex variables can appropriately describe different complex real-life processes. Many economic indicators and factors reflecting the properties of the same object can be represented in the form of complex variables. By describing the relationship between various indicators using the functions of these variables, new economic and financial models can be created which are often more accurate than the models of real variables. This book pays critical attention to complex variables production in stock market modeling, modeling illegal economy, time series forecasting, complex auto-aggressive models, and economic dynamics modeling. Very little has been published on this topic and its applications within the fields of economics and finance, and this volume appeals to graduate-level students studying economics, academic researchers in economics and finance, and economists.

Macroeconomics

Alex M. Thomas
Macroeconomics Book PDF

Author : Alex M. Thomas
Publisher : Cambridge University Press
Page : 255 pages
File Size : 41,6 Mb
Release : 2021-09-30
Category : Business & Economics
ISBN : 9781108486941

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Macroeconomics by Alex M. Thomas Pdf

Provides a lucid and novel introduction to macroeconomic issues and introduces an alternative approach of understanding macroeconomics, which is inspired by the works of Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, and Piero Sraffa. It also presents the reader with a critical account of mainstream marginalist macroeconomics.

Advances in Non-linear Economic Modeling

Frauke Schleer-van Gellecom
Advances in Non linear Economic Modeling Book PDF

Author : Frauke Schleer-van Gellecom
Publisher : Springer Science & Business Media
Page : 262 pages
File Size : 54,6 Mb
Release : 2013-12-11
Category : Business & Economics
ISBN : 9783642420399

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Advances in Non-linear Economic Modeling by Frauke Schleer-van Gellecom Pdf

In recent years nonlinearities have gained increasing importance in economic and econometric research, particularly after the financial crisis and the economic downturn after 2007. This book contains theoretical, computational and empirical papers that incorporate nonlinearities in econometric models and apply them to real economic problems. It intends to serve as an inspiration for researchers to take potential nonlinearities in account. Researchers should be aware of applying linear model-types spuriously to problems which include non-linear features. It is indispensable to use the correct model type in order to avoid biased recommendations for economic policy.