Three Lectures on the Theory of Money and Financial Institutions PDF Download
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Author: Martin Shubik
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Martin Shubik
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: David E. W. Laidler
Publisher:
ISBN:
Category : Monetary policy
Languages : en
Pages : 136
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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: Frank Hahn
Publisher:
ISBN:
Category :
Languages : en
Pages : 123
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Author: Nassau William Senior
Publisher:
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Category : Money
Languages : en
Pages : 108
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Author: Nassau William Senior
Publisher:
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Category : Economics
Languages : en
Pages : 308
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Author: Frank H. Hahn
Publisher:
ISBN:
Category :
Languages : es
Pages : 126
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Author: John H. Cochrane
Publisher: Princeton University Press
ISBN: 0691243247
Category : Business & Economics
Languages : en
Pages : 585
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Book Description
A comprehensive account of how government deficits and debt drive inflation Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less spending. Inflation breaks out when people don’t expect the government to fully repay its debts. The fiscal theory is well suited to today’s economy: Financial innovation undermines money demand, and central banks don’t control the money supply or aggressively change interest rates, invalidating classic theories, while large debts and deficits threaten inflation and constrain monetary policy. This book presents a comprehensive account of this important theory from one of its leading developers and advocates. John Cochrane aims to make fiscal theory useful as a conceptual framework and modeling tool, and for analyzing history and policy. He merges fiscal theory with standard models in which central banks set interest rates, giving a novel account of monetary policy. He generalizes the theory to explain data and make realistic predictions. For example, inflation decreases in recessions despite deficits because discount rates fall, raising the value of debt; specifying that governments promise to partially repay debt avoids classic puzzles and allows the theory to apply at all times, not just during periods of high inflation. Cochrane offers an extensive rethinking of monetary doctrines and institutions through the eyes of fiscal theory, and analyzes the era of zero interest rates and post-pandemic inflation. Filled with research by Cochrane and others, The Fiscal Theory of the Price Level offers important new insights about fiscal and monetary policy.
Author: Ludwig Von Mises
Publisher: Ludwig von Mises Institute
ISBN: 1610163222
Category : Credit
Languages : en
Pages : 507
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Author: Frank Horace Hahn
Publisher:
ISBN:
Category :
Languages : it
Pages : 126
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