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Author: Atsushi Kajii
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
Author: Atsushi Kajii
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
Get Book Here
Book Description
Author: Atsushi Kajii
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Rudolf Richter
Publisher: Springer Science & Business Media
ISBN: 3642740375
Category : Business & Economics
Languages : en
Pages : 407
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Book Description
The central idea of this book is the concept of a currency order. Monetary theory is developed as a theory of currency orders. The book expands the neoclassical theory of currency orders. This new way of looking at the problems permits a general view of the subject matter of monetary theory and policy which so far does not exist. The concept of transaction costs is used throughout. The book deals not only with the theories of the demand for and the supply of money, the banking firm, and the purchasing power of money. It also presents a theoretically based discussion of the great topics of monetary policy of our time: fixed vs. flexible exchange rates, gold vs. paper, rules vs. authority for the central banks, governmental currency monopoly vs. competition of private currencies, regulation vs. deregulation of commercial banks. The book is suitable as a text for students with a knowledge of money and banking and intermediate microeconomics. It offers a consistent and well-written presentation of the subject matter, as well as an extensive list of further readings.
Author: Rüdiger Pethig
Publisher:
ISBN:
Category :
Languages : en
Pages : 86
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Author: Julio Rotemberg
Publisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 44
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This paper presents the competitive equilibrium of an economy in which people hold money for transactions purposes. It studies both the steady states which result from different rates of monetary expansion and the effects of such non-steady state events as an open market operation. Even though the model features no uncertainty and perfect foresight, open market operations affect aggregate output. In particular, a simultaneous increase in money and governmental holdings of capital temporarily raises aggregate capital and output while it lowers the real rate of interest on capital.
Author: Atsushi Kajii
Publisher:
ISBN:
Category :
Languages : en
Pages : 46
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Author: Ross M. Starr
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 20
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Author: Ross M. Starr
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 20
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Author: Mr.Jaromir Benes
Publisher: International Monetary Fund
ISBN: 1475505523
Category : Business & Economics
Languages : en
Pages : 71
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Book Description
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
Author: Seppo Honkapohja
Publisher:
ISBN:
Category :
Languages : fi
Pages : 22
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