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Author : Ludwig Von Mises
Publisher : Ludwig von Mises Institute
Page : 507 pages
File Size : 45,5 Mb
Release : 1953
Category : Credit
ISBN : 9781610163224
Author : Jacob T. Schwartz
Publisher : Routledge
Page : 123 pages
File Size : 51,9 Mb
Release : 2017-04-21
Category : Business & Economics
ISBN : 9781351797801
This title, first published in 1965, provides an analysis of the forces and mechanisms governing the formation of the overall level of money prices. Even though this problem has a long history, and in spite of its obvious practical importance, it remains one of the most poorly understood questions in economic theory. This title will be of interest to students of monetary economics and the history of economic thought.
Author : John Maynard Keynes
Publisher : Springer
Page : 404 pages
File Size : 52,5 Mb
Release : 2018-07-20
Category : Business & Economics
ISBN : 9783319703442
This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Author : Carl E. Walsh
Publisher : MIT Press
Page : 636 pages
File Size : 53,8 Mb
Release : 2003
Category : Business & Economics
ISBN : 0262232316
An overview of recent theoretical and policy-related developments in monetary economics.
Author : R. J. Ball
Publisher : Routledge
Page : 313 pages
File Size : 54,5 Mb
Release : 2017-07-12
Category : Business & Economics
ISBN : 9781351512558
Martin Bronfenbrenner in the Journal of Finance had this to say when the book was first released "A thoughtful, scholarly, and systematic treatise on the economics of inflation. If this reviewer were asked to hang a course on inflation theory upon one single text, it would almost certainly be this one." The principal concern of this book is to set out the elements that enter into problems of analyzing inflation. This detailed, readable review of contemporary theory on the problems of inflation fills an important gap in the literature on macro-economics that: 1) assesses the implications of inflationary processes for economic policy; 2) synthesizes a general framework within which to illustrate inflationary processes; 3) reconciles the approaches of "demand inflation" and "cost inflation"; and 4) analyzes the determination and behavior of the general price level in an exchange economy. The first part of the book reviews neo-classical and "Keynesian" type models of the closed macro-economy, analyzes determination of the general price level, and introduces a restatement of conventional employment theory with emphasis on the general price level. The second part considers the problems of price and wage determinations and the demand for money in more detail, synthesizing the analyses into a model of the macro-economy and discussing the implications of this model and the preceding analysis for economic policy. Describing alternative approaches to the theory of inflation, each of which has resulted in partial theories, the book avoids fragmentary explanations by setting the entire discussion in the context of a macro-economic general equilibrium framework.
Author : Irving Fisher
Publisher : Cosimo, Inc.
Page : 529 pages
File Size : 44,6 Mb
Release : 2007-11-01
Category : Business & Economics
ISBN : 9781602069572
Perhaps America's first celebrated economist, Irving Fisher-for whom the Fisher equation, the Fisher hypothesis, and the Fisher separation theorem are named-staked an early claim to fame with his revival, in this 1912 book, of the "quantity theory of money." An important work of 20th-century economics, this work explores: the circulation of money against goods the various circulating media the mystery of circulating credit how a rise in prices generates a further rise influence of foreign trade on the quantity of money the problem of monetary reform and much more. American economist IRVING FISHER (1867-1947) was professor of political economy at Yale University. Among his many books are Mathematical Investigations in the Theory of Value and Prices (1892), The Rate of Interest (1907), Why Is the Dollar Shrinking? A Study in the High Cost of Living (1914), and Booms and Depressions (1932).
Author : Jin Cao,Gerhard Illing
Publisher : Springer Nature
Page : 412 pages
File Size : 43,5 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 : Milton Friedman
Publisher : Unknown
Page : 265 pages
File Size : 50,8 Mb
Release : 1977
Category : Electronic
ISBN : OCLC:1242025567
Author : Lawrence White
Publisher : Wiley-Blackwell
Page : 288 pages
File Size : 43,7 Mb
Release : 1999-06-18
Category : Business & Economics
ISBN : 0631212140
The Theory of Monetary Institutions covers free banking monetary thought and a theoretical account of the evolution of monetary institutions.
Author : Andreas Rahmatian
Publisher : Routledge
Page : 260 pages
File Size : 48,8 Mb
Release : 2019-10-28
Category : Law
ISBN : 9780429594847
Money is a legal institution with principal economic and sociological consequences. Money is a debt, because that is how it is conceptualised and comes into existence: as circulating credit – if viewed from the creditor’s perspective – or, from the debtor’s viewpoint, as debt. This book presents a legal theory of money, based on the concept of dematerialised property. It describes the money creation or money supply process for cash and for bank money, and looks at modern forms of money, such as cryptocurrencies. It also shows why mainstream economics presupposes, but avoids an analysis of, money by effectively eliminating money from the microeconomic market model and declaring it as merely a neutral medium of exchange and unit of account. The book explains that money rather brings about and influences substantially the exchange or transaction it is supposed to facilitate only as a neutral medium. As the most liquid of all assets, money enables financialisation, monetisation and commodification in the economy. The central role of the banks in the money creation process and in the economy, and their strengthened position after the bank rescue measures in the wake of the financial crisis 2008-9 are also discussed. Providing a rigorous analysis of the most salient legal issues regarding money, this book will appeal to legal theorists, economists and anyone working in commercial or banking law.
Author : L. Randall Wray
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 46,5 Mb
Release : 2004-01-01
Category : Business & Economics
ISBN : 1843769840
In 1913 and 1914, A. Mitchell Innes published a pair of articles that stand as two of the best pieces written in the twentieth century on the nature of money. Only recently rediscovered, these articles are reprinted and analyzed here for the first time.
Author : Jürg Niehans
Publisher : Baltimore : Johns Hopkins University Press
Page : 336 pages
File Size : 49,7 Mb
Release : 1978
Category : Money
ISBN : UCAL:B4410555
Exploring the function of money as a medium of exchange and a store of value, this major work provides a comprehensive introduction to the pure theory of money and monetary policy.
Author : Pascal Salin
Publisher : Edward Elgar Publishing
Page : 272 pages
File Size : 50,9 Mb
Release : 2016-11-25
Category : Electronic
ISBN : 9781786430304
The international monetary system, and the disparate systems that make it up, are complex and there are many fallacies surrounding the ways in which they work. This book provides a clear and rigorous understanding of these systems and their possible consequences.
Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 52,8 Mb
Release : 2024-06-30
Category : Electronic
ISBN : 8210379456XXX
Author : Prabhat Patnaik
Publisher : Columbia University Press
Page : 279 pages
File Size : 43,6 Mb
Release : 2009-04-02
Category : History
ISBN : 9780231519212
Why is money more valuable than the paper on which it is printed? Monetarists link the value of money to its supply and demand, believing the latter depends on the total value of the commodities it circulates. According to Prabhat Patnaik, this logic is flawed. In his view, in any nonbarter economy, the value we assign to money is determined independently of its supply and demand. Through an original and provocative critique of monetarism, Patnaik advances a revolutionary understanding of macroeconomics that highlights the "propertyist" position of Karl Marx and John Maynard Keynes. Unlike the usual division between "classical" economists (e.g., David Ricardo and Marx) and the "marginalists" (e.g., Carl Menger, William Stanley Jevons, and Léon Walras), Patnaik places "monetarists," including Ricardo, on one side, while grouping propertyist writers like Marx, Keynes, and Rosa Luxemburg on the other. This second group subscribes to the idea that the value of money is given from outside the realm of supply and demand, therefore making money a form in which wealth is held. The fact that money is held as wealth in turn gives rise to the possibility of deficiency of aggregate demand under capitalism. It is no accident that this possibility was highlighted by Marx and Keynes while going largely unrecognized by Ricardo and contemporary monetarists. At the same time, Patnaik points to a weakness in the Marx-Keynes tradition namely, its lack of any satisfactory explanation of why the value of money, determined from outside the realm of supply and demand, remains relatively stable over long stretches of time. The answer to this question lies in the fact that capitalism is not a self-contained system but is born from a precapitalist setting with which it interacts and where it creates massive labor reserves that, in turn, impart stability to the value of money. Patnaik's theory of money, then, is also a theory of imperialism, and he concludes with a discussion of the contemporary international monetary system, which he terms the "oil-dollar" standard.
