Monetary Theory And Policy From Hume And Smith To Wicksell

Author : Arie Arnon
Publisher : Cambridge University Press
Page : 449 pages
File Size : 40,9 Mb
Release : 2010-11-22
Category : Business & Economics
ISBN : 9781139492089

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Monetary Theory and Policy from Hume and Smith to Wicksell by Arie Arnon Pdf

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 : Anonim
Publisher : Springer
Page : 142 pages
File Size : 53,9 Mb
Release : 1991-06-18
Category : Business & Economics
ISBN : 9781349121557

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Wicksell’s Monetary Theory by Anonim Pdf

Originally published in Italian in 1983, the book elaborates and interprets Wicksell's monetary theories, contrasting them with the methodological approach of both classical economists and members of the Swedish school.

Author : Arie Arnon
Publisher : Springer Nature
Page : 325 pages
File Size : 43,5 Mb
Release : 2022-05-06
Category : Business & Economics
ISBN : 9783030977030

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Debates in Macroeconomics from the Great Depression to the Long Recession by Arie Arnon Pdf

This book assesses major schools of thought in macroeconomic theory between the Great Depression and the Long Recession, focusing on their analysis of cycles, crises and macro-policy. It explores the road from the dominance of Keynesian ideas to those of New Classical Macroeconomics (NCM) toward the end of the millennium. The book covers the early influential work of Knut Wicksell; the economic debates of the 1930s, with core contributions from John Maynard Keynes and Friedrich von Hayek; the rise of Keynesianism in the 1950s and its decline since the 1970s; the rise of Monetarism in the 1960s; and NCM’s subsequent rise to prominence. Finally, the book outlines how macroeconomics has evolved from its birth in the 1930s as a theory separate from microeconomics, resulting in a split between macro- and micro-theories, and ended up with a new hegemonic paradigm based on microfoundations. The ensuing policy thinking witnessed a transformation from "active" macro-policy after the Great Depression to a far more "passive" macro-policy during the last quarter of the twentieth century, which may have contributed to missing the signs of the impending Long Recession of 2008. “When the 2008 crisis struck, macroeconomists were caught with models that were theoretically elegant yet inappropriate to the needs of the moment. A broader historical perspective may have prevented the jettisoning of Keynesian models that had proved useful in the past and might have done so again. This highly readable book by Arie Arnon is a wonderful antidote to economists’ short time horizon and contributes mightily to restore the profession’s “collective memory” of the diversity of ideas within macroeconomics.” Professor Dani Rodrik, Harvard Kennedy School

Author : Guglielmo Chiodi
Publisher : Unknown
Page : 129 pages
File Size : 45,6 Mb
Release : 1991-01-01
Category : Economics
ISBN : 0333545362

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Wicksell's Monetary Theory by Guglielmo Chiodi Pdf

Author : David Glasner
Publisher : Springer Nature
Page : 521 pages
File Size : 51,6 Mb
Release : 2021-11-01
Category : Business & Economics
ISBN : 9783030834265

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Studies in the History of Monetary Theory by David Glasner Pdf

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 : Augusto Graziani
Publisher : Cambridge University Press
Page : 190 pages
File Size : 40,9 Mb
Release : 2003-09-04
Category : Business & Economics
ISBN : 9781139438001

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The Monetary Theory of Production by Augusto Graziani Pdf

In mainstream economic theory money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth. In neither case is it considered fundamental to the production of goods or the distribution of income. Augusto Graziani challenges traditional theories of monetary production, arguing that a modern economy based on credit cannot be understood without a focus on the administration of credit flows. He argues that market asset configuration depends not upon consumer preferences and available technologies but on how money and credit are managed. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument that will stimulate debate on the topic.

Author : Robert W. Clower
Publisher : CUP Archive
Page : 310 pages
File Size : 47,8 Mb
Release : 1986-10-31
Category : Business & Economics
ISBN : 0521335604

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Money and Markets by Robert W. Clower Pdf

Robert Clower's influential essays discuss monetary economics and monetary behaviour.

Author : Ryan Hanley
Publisher : Princeton University Press
Page : 168 pages
File Size : 49,5 Mb
Release : 2021-06-15
Category : Biography & Autobiography
ISBN : 9780691216706

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Our Great Purpose by Ryan Hanley Pdf

Invaluable wisdom on living a good life from the founder of modern economics.

Author : Arie Arnon,Jimmy Weinblatt,Warren Young
Publisher : Springer Science & Business Media
Page : 310 pages
File Size : 44,5 Mb
Release : 2010-11-29
Category : Business & Economics
ISBN : 9783642144097

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Perspectives on Keynesian Economics by Arie Arnon,Jimmy Weinblatt,Warren Young Pdf

This book combines historical and policy-oriented perspectives on the relevance of the Keynesian approach for economic theory, policy, and crisis analysis. The first part focuses on historical, theoretical, and methodological issues, and puts them in context with current developments. The second part focuses on the application of the Keynesian approach to modeling the economy, policy-making, and analyzing the ongoing crisis of the early 21st century. Bringing together contributions by leading macroeconomists such as Laidler, Cukierman, Colander and Boyer, and leading historians of economics such as Hollander, Boianovsky, Marcuzzo, Dimand, Witztum, Young, deVroey and Arnon, the book offers a comprehensive overview of Keynesian economics today. One of the book’s most essential features are the commentaries on the papers, which promote a cross-fertilization between macroeconomists and historians of economics, providing, in conjunction with the papers themselves, a balanced outlook on the current relevance of Keynesian economics.

Author : Phyllis Deane
Publisher : Cambridge University Press
Page : 260 pages
File Size : 50,6 Mb
Release : 1978-10-05
Category : Business & Economics
ISBN : 0521293154

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The Evolution of Economic Ideas by Phyllis Deane Pdf

An introduction to the history of economics for undergraduate students. Puts some of the current theoretical controversies into long-term perspective by tracing their historical antecedents and parallels.

Author : Bruna Ingrao,Claudio Sardoni
Publisher : Edward Elgar Publishing
Page : 456 pages
File Size : 49,8 Mb
Release : 2019
Category : Banks and banking
ISBN : 9781786431530

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Banks and Finance in Modern Macroeconomics by Bruna Ingrao,Claudio Sardoni Pdf

The world financial crisis of 2007–2008 dramatically showed the importance of credit and financial relations for the efficient working of the economy. For a long time mainstream macroeconomics ignored these aspects and concentrated only on the real sector or just took into account the most elementary picture of the financial side of the economy. This book aims at explaining why this happened through an historical excursion of 20th century mainstream macroeconomic theory.

Author : Steven G Medema,Warren J. Samuels
Publisher : Routledge
Page : 782 pages
File Size : 42,7 Mb
Release : 2013-05-29
Category : Business & Economics
ISBN : 9781136742880

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The History of Economic Thought by Steven G Medema,Warren J. Samuels Pdf

From the ancients to the moderns, questions of economic theory and policy have been an important part of intellectual and public debate, engaging the attention of some of history’s greatest minds. This book brings together readings from more than two thousand years of writings on economic subjects. Through these selections, the reader can see first-hand how the great minds of past grappled with some of the central social and economic issues of their times and, in the process, enhanced our understanding of how economic systems function. This collection of readings covers the major themes that have preoccupied economic thinkers throughout the ages, including price determination and the underpinnings of the market system, monetary theory and policy, international trade and finance, income distribution, and the appropriate role for government within the economic system. These ideas unfold, develop, and change course over time at the hands of scholars such as Aristotle, St. Thomas Aquinas, John Locke, François Quesnay, David Hume, Adam Smith, Thomas Robert Malthus, David Ricardo, John Stuart Mill, Karl Marx, William Stanley Jevons, Alfred Marshall, Irving Fisher, Thorstein Veblen, John Maynard Keynes, Milton Friedman, and Paul Samuelson. Each reading has been selected with a view to both enlightening the reader as to the major contributions of the author in question and to giving the reader a broad view of the development of economic thought and analysis over time. This book will be useful for students, scholars, and lay people with an interest in the history of economic thought and the history of ideas generally.

Author : Keith Bain,Peter Howells
Publisher : Bloomsbury Publishing
Page : 510 pages
File Size : 41,6 Mb
Release : 2017-09-16
Category : Business & Economics
ISBN : 9781137013422

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Monetary Economics by Keith Bain,Peter Howells Pdf

This fully revised second edition of Bain and Howells' Monetary Economics provides an up-to-date examination of monetary policy as it is practised and the theory underlying it. The authors link the conduct of monetary policy to the IS/PC/MR model and extend this further through the addition of a simple model of the banking sector. They demonstrate why monetary policy is central to the management of a modern economy, showing how it might have lasting effects on real variables, and look at how the current economic crisis has weakened the ability of policymakers to influence aggregate demand through the structure of interest rates. The second edition: features a realistic account of the conduct of monetary policy when the money supply is endogenous provides a detailed and up-to-date account of the conduct of monetary policy and links this explicitly to a framework for teaching macroeconomics includes recent changes in money market operations and an examination of the problems posed for monetary policy by the recent financial crisis Monetary Economics is an ideal core textbook for advanced undergraduate modules in monetary economics and monetary theory and policy.

Author : Steven G Medema
Publisher : Routledge
Page : 674 pages
File Size : 52,5 Mb
Release : 2004-02-24
Category : Business & Economics
ISBN : 9781134627035

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The History of Economic Thought: A Reader by Steven G Medema Pdf

This new reader in the history of economic thought is edited by two of the most respected figures in the field. With clearly written summaries putting each selection into context, this book will be of great use to students and lecturers of the history of economic thought as it goes beyond the simple reprinting of articles. Selections and discussions include such thinkers as Aristotle, John Locke, François Quesnay, David Hume, Jean-Baptiste Say, Karl Marx, William Stanley Jevons, Irving Fisher and Thorstein Veblen. The History of Economic Thought: A Reader can be used as a core textbook or as a supplementary text on courses in economic thought and philosophy, and will provide readers with a good foundation in the different schools of thought that run through economics.

Author : Ludwig Von Mises
Publisher : Ludwig von Mises Institute
Page : 507 pages
File Size : 53,5 Mb
Release : 1953
Category : Credit
ISBN : 9781610163224

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The Theory of Money and Credit by Ludwig Von Mises Pdf