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Author : Yasuo Maeda
Publisher : Unknown
Page : 126 pages
File Size : 48,9 Mb
Release : 1990
Category : Electronic
ISBN : MINN:31951D00569307L
Author : Stephen E. Spear,Warren Young
Publisher : Emerald Group Publishing
Page : 200 pages
File Size : 54,7 Mb
Release : 2023-09-04
Category : Business & Economics
ISBN : 9781837530540
The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn’t become the central workhorse model for macroeconomics, as opposed to the neoclassical growth model. The authors here explore the co-evolution of the two models.
Author : Guillaume Rocheteau,Ed Nosal
Publisher : MIT Press
Page : 501 pages
File Size : 52,7 Mb
Release : 2017-05-19
Category : Business & Economics
ISBN : 9780262533270
A new edition of a book presenting a unified framework for studying the role of money and liquid assets in the economy, revised and updated. In Money, Payments, and Liquidity, Guillaume Rocheteau and Ed Nosal provide a comprehensive investigation into the economics of money, liquidity, and payments by explicitly modeling the mechanics of trade and its various frictions (including search, private information, and limited commitment). Adopting the last generation of the New Monetarist framework developed by Ricardo Lagos and Randall Wright, among others, Nosal and Rocheteau provide a dynamic general equilibrium framework to examine the frictions in the economy that make money and liquid assets play a useful role in trade. They discuss such topics as cashless economies; the properties of an asset that make it suitable to be used as a medium of exchange; the optimal monetary policy and the cost of inflation; the coexistence of money and credit; and the relationships among liquidity, asset prices, monetary policy; and the different measures of liquidity in over-the-counter markets. The second edition has been revised to reflect recent progress in the New Monetarist approach to payments and liquidity. Rocheteau and Nosal have added three new chapters: on unemployment and payments, on asset price dynamics and bubbles, and on crashes and recoveries in over-the-counter markets. The chapter on the role of money has been entirely rewritten, adopting a mechanism design approach. Other chapters have been revised and updated, with new material on credit economies under limited commitment, open-market operations and liquidity traps, and the limited pledgeability of assets under informational frictions.
Author : Bruce Champ,Scott Freeman,Joseph H. Haslag
Publisher : Cambridge University Press
Page : 407 pages
File Size : 45,7 Mb
Release : 2016
Category : Money
ISBN : 9781107145221
"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"--
Author : Pennsylvania
Publisher : Unknown
Page : 528 pages
File Size : 40,6 Mb
Release : 1992
Category : Economics
ISBN : 00220531
Author : Peter Diamond,Michael Rothschild
Publisher : Academic Press
Page : 586 pages
File Size : 41,5 Mb
Release : 2014-05-10
Category : Business & Economics
ISBN : 9781483264509
Uncertainty in Economics: Readings and Exercises provides information pertinent to the fundamental aspects of the economics of uncertainty. This book discusses ho uncertainty affects both individual behavior and standard equilibrium theory. Organized into three parts encompassing 30 chapters, this book begins with an overview of the relevance of expected utility maximization for positive and normative theories of individual choice. This text then examines the biases in judgments, which reveal some heuristics of thinking under uncertainty. Other chapters consider the effect of restricting trade in contingent commodities to those trades that can be affected through the stock and bond markets. This book discusses as well the individual problem of sequential choice and equilibria, which are built around the notion of sequential choice. The final chapter deals with an entirely different aspect of the economics of information and reverts to the assumption that markets are perfect and costless. This book is a valuable resource for economists and students.
Author : Ross M. Starr
Publisher : Edward Elgar Publishing
Page : 177 pages
File Size : 45,7 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9780857938060
'This book makes compelling reading for anyone interested in exploring the foundations of monetary theory from a rigorous general equilibrium perspective.' – Gabriele Camera, Purdue University, US 'Introducing the Arrow-Debreu-Starr model of monetary general equilibrium, Professor Starr provides the best defense ever made for the relevance of the Walrasian model to the pure theory of money. While most monetary theorists ventured to the overlapping generations model and then to the search model, only to create recently a hybrid search-Walrasian model, Starr presents the culmination of a patient, career-long effort to integrate money into the basic Walrasian model, with realistic taxation critically helping the government's money to dominate.' – Dror Goldberg, Bar Ilan University, Israel The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading post models. It has long been recognized that the fundamental theoretical analysis of a market economy is embodied in the Arrow-Debreu-Walras mathematical general equilibrium model, with one great deficiency: the analysis cannot accommodate money and financial institutions. In this groundbreaking book, Ross M. Starr addresses this problem directly, by expanding the Arrow-Debreu model to include a multiplicity of trading opportunities, with the resultant endogenous derivation of money as the carrier of value among them. This fundamental breakthrough is achieved while maintaining the Walrasian general equilibrium price-theoretic structure, augmented primarily by the introduction of separate bid and ask prices reflecting transaction costs. The result is foundations of monetary theory consistent with and derived from modern price theory. This fascinating book will provide a stimulating and thought-provoking read for academics and postgraduate students focusing on economics, macroeconomics, macroeconomic policy and finance, money and banking. Central bankers will also find much to interest them within this book.
Author : Hans Keiding
Publisher : World Scientific
Page : 447 pages
File Size : 41,6 Mb
Release : 2020-05-26
Category : Business & Economics
ISBN : 9789811214400
This book provides a comprehensive introduction to general equilibrium theory, covering the standard topics as well as the developments of the theory over the past fifty years. This ensures that the reader gains a thorough account of what has been established both in pure theory and in applications.In addition to the basic topics, this book elaborates on fields which are relevant but not mentioned frequently in this context. The material covered includes international trade, growth, finance and implementation, and it offers a broader view than what is usual in texts on general equilibrium theory. This book would make for suitable reading for undergraduate and graduate courses in macroeconomics.
Author : Donald W. Katzner
Publisher : University of Michigan Press
Page : 502 pages
File Size : 40,5 Mb
Release : 1998
Category : Business & Economics
ISBN : 9780472109388
Formal economic analysis using Shackle's ideas of historical time and nonprobabilistic uncertainty
Author : Anonim
Publisher : Unknown
Page : 668 pages
File Size : 51,8 Mb
Release : 2009
Category : Dissertations, Academic
ISBN : STANFORD:36105132702536
Author : Peter A. Diamond
Publisher : MIT Press
Page : 96 pages
File Size : 51,9 Mb
Release : 1984
Category : Business & Economics
ISBN : 026204076X
Peter A. Diamond discusses search equilibrium as a framework for integrating micro and macroeconomics.
Author : Anonim
Publisher : Unknown
Page : 760 pages
File Size : 41,6 Mb
Release : 1989
Category : Dissertation abstracts
ISBN : UOM:39015086908277
Author : Benjamin M. Friedman,Michael Woodford
Publisher : Elsevier
Page : 1729 pages
File Size : 55,6 Mb
Release : 2010-11-10
Category : Business & Economics
ISBN : 9780444534712
How have monetary policies matured during the last decade? The recent downturn in economies worldwide have put monetary policies in a new spotlight. In addition to their investigations of new tools, models, and assumptions, they look carefully at 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. They also reexamine standard presumptions about the rationality of asset markets and other fundamentals. 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. Presents extensive coverage of monetary policy theories with an eye toward questions raised by the recent financial crisis Explores the policies and practices used in formulating and transmitting monetary policies 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
Author : Anonim
Publisher : Elsevier
Page : 752 pages
File Size : 50,5 Mb
Release : 2010-12-08
Category : Business & Economics
ISBN : 9780080932705
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
Author : Society for Economic Dynamics
Publisher : Unknown
Page : 968 pages
File Size : 48,6 Mb
Release : 1998
Category : Electronic
ISBN : 10942025