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Author : Carl E. Walsh
Publisher : MIT Press
Page : 636 pages
File Size : 40,5 Mb
Release : 2003
Category : Business & Economics
ISBN : 0262232316
An overview of recent theoretical and policy-related developments in monetary economics.
Author : Carl E. Walsh
Publisher : Unknown
Page : 528 pages
File Size : 55,8 Mb
Release : 2000
Category : Monetary policy
ISBN : 0262231999
Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 44,5 Mb
Release : 2024-06-30
Category : Electronic
ISBN : 8210379456XXX
Author : Alvin Harvey Hansen
Publisher : Pickle Partners Publishing
Page : 197 pages
File Size : 44,6 Mb
Release : 2018-12-02
Category : Business & Economics
ISBN : 9781789127416
IN TRADITIONAL economics the theory of money and the theory of output have been treated separately with little or no tendency toward integration. First Wicksell and then Keynes gave impetus to the movement to combine the theory of money with that of output as a whole. Drawing on classical economics and the modern aggregate analysis of Keynes, Professor Hansen in this volume succeeds in writing a book which, unlike the classical studies, shows the importance of money in the theory of output as a whole; and which, unlike numerous modern writings (e.g., of Hawtrey, Douglas, Hayek), avoids overemphasizing the importance of money. Here is a book that shows what monetary policy can and cannot achieve and why it has often failed in the past; the necessary supplementary role of monetary policy as an aid to fiscal policy; and the manner of integrating monetary and fiscal policy, in periods of both depression and inflation, as prerequisites for assuring a stable economy. Professor Hansen has drawn on his rich experience over thirty-five years in the study of cycles, fiscal policy, and international economics, and on his many years as an economic practitioner to write a book that makes use of the riches of classical economics, as well as neoclassical and Keynesian economics. The book should, for many years to come, be the standard work on monetary theory and fiscal policy as determinants of output. The reader will find here not only the modern theory of money and fiscal policy, but also rich surveys covering the last 150 years, reinterpreted with the tools of modern economics. He will find also suggestions, based on theory and history, for a policy in the years to come that will yield the high levels of income and stability without which the survival of democratic institutions is most unlikely.
Author : Avi J. Cohen,Harald Hagemann,John Smithin
Publisher : Springer
Page : 378 pages
File Size : 50,6 Mb
Release : 1997-05-31
Category : Business & Economics
ISBN : STANFORD:36105019317002
These 18 papers from the April 1995 conference at York U., Toronto present comparative and international perspectives on recent research in monetary theory and its application to practical policy issues. Although the contributors tend to emphasize the importance of credit creation in the monetary process, some of the authors offer more mainstream approaches. Topics include the roles of interest rate determination and the endogeneity of money in the credit economy, and monetary policy in North America and Europe. Annotation copyrighted by Book News, Inc., Portland, OR
Author : Inna Baier
Publisher : GRIN Verlag
Page : 35 pages
File Size : 49,5 Mb
Release : 2015-01-30
Category : Business & Economics
ISBN : 9783656887591
Seminar paper from the year 2013 in the subject Economics - Monetary theory and policy, grade: 1,8, Justus-Liebig-University Giessen, language: English, abstract: This Paper aims to explain the effects of money in an economy. The beginning of the Paper analyses the money supply, the money demand and which variables determinate it or how they influence them. Further the paper analyses how the money stock could be used by the central bank and the government as monetary instrument to invent into economy. At certain stages endnotes will refer to the interest rate theory and try to answer, how strong it influences the money amount.
Author : M C Vaish
Publisher : Vikas Publishing House
Page : 684 pages
File Size : 40,7 Mb
Release : 2009-11-01
Category : Electronic
ISBN : 8125918450
Monetary Theory Is A Comprehensive Textbook That Meets The Needs Of Students At The Honours And Post-Graduate Level. The Sixteenth Edition Has Been Thoroughly Revised And Updated. The Book Is Divided Into Five Parts Viz Money And Prices; Trade Cycle And S
Author : M.L. Burstein
Publisher : Springer
Page : 223 pages
File Size : 43,6 Mb
Release : 1986-01-28
Category : Business & Economics
ISBN : 9781349180707
Innovations in financial markets and in financial management, together with dramatic innovations in the substance and technique of monetary theory, have made it necessary to restate the theory of money and the theory of monetary policy. In order to provide a new monetary theory, the author treats fully the following material: choice of currency and the theory of convertibility; interest on money; speculation and rational expectations; implications of electronic-transfer settlement procedures for monetary theory, as well as other matters. The theories of Tobin are developed and exposited in detail, as is the work of Friedman.
Author : Arie Arnon
Publisher : Cambridge University Press
Page : 449 pages
File Size : 55,8 Mb
Release : 2010-11-22
Category : Business & Economics
ISBN : 9781139492089
This book provides a comprehensive survey of the major developments in monetary theory and policy from David Hume and Adam Smith to Walter Bagehot and Knut Wicksell. In particular, it seeks to explain why it took so long for a theory of central banking to penetrate mainstream thought. The book investigates how major monetary theorists understood the roles of the invisible and visible hands in money, credit and banking; what they thought about rules and discretion and the role played by commodity-money in their conceptualizations; whether or not they distinguished between the two different roles carried out via the financial system - making payments efficiently within the exchange process and facilitating intermediation in the capital market; how they perceived the influence of the monetary system on macroeconomic aggregates such as the price level, output and accumulation of wealth; and finally, what they thought about monetary policy.
Author : Michael Woodford
Publisher : Princeton University Press
Page : 805 pages
File Size : 53,8 Mb
Release : 2011-12-12
Category : Business & Economics
ISBN : 9781400830169
With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
Author : Marc Lavoie
Publisher : Edward Elgar Publishing
Page : 416 pages
File Size : 43,8 Mb
Release : 2020-09-25
Category : Business & Economics
ISBN : 9781839100093
Post-Keynesian Monetary Theory recaps the views of Marc Lavoie on monetary theory, seen from a post-Keynesian perspective over a 35-year period. The book contains a collection of twenty previously published papers, as well as an introduction which explains how these papers came about and how they were received. All of the selected articles avoid mathematical formalism.
Author : David Glasner
Publisher : Springer Nature
Page : 521 pages
File Size : 41,9 Mb
Release : 2021-11-01
Category : Business & Economics
ISBN : 9783030834265
This book presents an alternative approach to monetary theory that differs from the General Theory of Keynes, the Monetarism of Friedman, and the New Classicism of Lucas. Particular attention is given to the work of Hawtrey and his analysis of financial crises and his explanation of the Great Depression. The unduly neglected monetary theory of Hawtrey is examined in the context of his contemporaries Keynes and Hayek and the subsequent contributions of Friedman and of the Monetary Approach to the Balance of Payments. Studies in the History of Monetary Theory aims to highlight the misunderstandings of the quantity theory and the price-specie-flow mechanism and to explain their unfortunate consequences for the subsequent development of monetary theory. The book is relevant to researchers, students, and policymakers interested in the history of economic thought, monetary theory, and monetary policy.
Author : L. Randall Wray
Publisher : Springer
Page : 322 pages
File Size : 40,6 Mb
Release : 2015-09-22
Category : Business & Economics
ISBN : 9781137539922
This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.
Author : Jin Cao,Gerhard Illing
Publisher : Springer Nature
Page : 412 pages
File Size : 52,9 Mb
Release : 2019-12-07
Category : Business & Economics
ISBN : 9783030196974
This textbook provides an introduction to modern monetary economics for advanced undergraduates, highlighting the lessons learned from the recent financial crisis. The book presents both the core New Keynesian model and recent advances, taking into account financial frictions, and discusses recent research on an intuitive level based on simple static and two-period models, but also prepares readers for an extension to a truly dynamic analysis. Further, it offers a systematic perspective on monetary policy, covering a wide range of models to help readers gain a better understanding of controversial issues. Part I examines the long-run perspective, addressing classical monetary policy issues such as determination of the price level and interaction between monetary and fiscal policy. Part II introduces the core New Keynesian model, characterizing optimal monetary policy to stabilize short-term shocks. It discusses rules vs. discretion and the challenges arising from control errors, imperfect information and robustness issues. It also analyzes optimal control in the presence of an effective lower bound. Part III focuses on modelling financial frictions. It identifies the transmission mechanisms of monetary policy via banking and introduces models with incomplete markets, principal-agent problems, maturity mismatch and leverage cycles, to show why investors’ and intermediaries’ own stakes play a key role in lending with pro-cyclical features. In addition, it presents a tractable model for handling liquidity management and demonstrates that the need to sell assets in crisis amplifies the volatility of the real economy. Lastly, the book discusses the relation between monetary policy and financial stability, addressing systemic risk and the role of macro-prudential regulation.
Author : S. Frowen
Publisher : Springer
Page : 395 pages
File Size : 48,7 Mb
Release : 1993-11-09
Category : Business & Economics
ISBN : 9781349230969
These new essays cover aspects of monetary theory as well as monetary policy, the prime objective being the development of intellectual tools in order to find new ways of thinking to existing and new monetary problems in an increasingly unstable world economy marked by rapid and often unexpected changes, partly caused by the disappearance of boundaries for financial transactions. By challenging the orthodox paradigms in monetary economics and generating controversy, the volume will be an essential reference point for economists, central and commercial bankers, businessmen and politicians.
