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Money Theory And Practice
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Book Synopsis Money: Theory and Practice by : Jin Cao
Download or read book Money: Theory and Practice written by Jin Cao and published by Springer Nature. This book was released on 2019-12-07 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis https://books.google.com/books?id=PEFdDwAAQBAJ&pri... by :
Download or read book https://books.google.com/books?id=PEFdDwAAQBAJ&pri... written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Theory and Policy by : Carl E. Walsh
Download or read book Monetary Theory and Policy written by Carl E. Walsh and published by MIT Press. This book was released on 2003 with total page 636 pages. Available in PDF, EPUB and Kindle. Book excerpt: An overview of recent theoretical and policy-related developments in monetary economics.
Book Synopsis Modern Monetary Theory and Practice: an Introductory Text by : W. Mitchell
Download or read book Modern Monetary Theory and Practice: an Introductory Text written by W. Mitchell and published by . This book was released on 2016-03-10 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern Monetary Theory and Practice: An Introductory Text is an introductory textbook for university-level macroeconomics students. It is based on the principles of Modern Monetary Theory (MMT) and includes the following detailed chapters:Chapter 1: IntroductionChapter 2: How to Think and Do MacroeconomicsChapter 3: A Brief Overview of the Economic History and the Rise of CapitalismChapter 4: The System of National Income and Product AccountsChapter 5: Sectoral Accounting and the Flow of FundsChapter 6: Introduction to Sovereign Currency: The Government and its MoneyChapter 7: The Real Expenditure ModelChapter 8: Introduction to Aggregate SupplyChapter 9: Labour Market Concepts and MeasurementChapter 10: Money and BankingChapter 11: Unemployment and InflationChapter 12: Full Employment PolicyChapter 13: Introduction to Monetary and Fiscal Policy OperationsChapter 14: Fiscal Policy in Sovereign nationsChapter 15: Monetary Policy in Sovereign NationsIt is intended as an introductory course in macroeconomics and the narrative is accessible to students of all backgrounds. All mathematical and advanced material appears in separate Appendices.
Book Synopsis Money and Payments in Theory and Practice by : Sergio Rossi
Download or read book Money and Payments in Theory and Practice written by Sergio Rossi and published by Routledge. This book was released on 2007-03-06 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: International in scope and written by a leading young Post-Keynesian economist, this book focuses on the working of money and payments in a multi-bank settlement system within which banks and non-bank financial institutions have been expanding their operations outside their countries of incorporation. Departing from conventionally held beliefs, Sergio Rossi sets off from a positive analysis of the logical origin of money, which is the essential principle of double-entry book-keeping through which banks record all debts and credits for further reference and settlement and provides theoretical and empirical advances in explaining money endogeneity for the investigation of contemporary domestic and international monetary issues. Showing that both money and banking have profound implications for real economic activities, this innovative work is essential reading, not only for scholars in monetary economics, but also for professionals concerned with monetary policy and payments system issues.
Book Synopsis Monetary Policy Rule in Theory and Practice by : Nicolas Barbaroux
Download or read book Monetary Policy Rule in Theory and Practice written by Nicolas Barbaroux and published by Routledge. This book was released on 2013-08-21 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new volume sheds new light on current monetary issues, in particular the debate on monetary policy making, by blending theoretical economic analysis, history of economics, and historical case studies. A discretionary monetary policy refers to cases in which the central bank is free to change its policy actions or key instruments when the need arises, whilst a monetary policy rule can be defined as a commitment from (independent) central banks to reach one or several objective(s) by way of systematic policy actions. This book uses case studies from France and Sweden, and places them in the context of Keynes’ argument from his 1923 ‘Tract on Monetary Reforms’, to support the argument that the use of discretionary practices within a monetary policy rule (such as in the Gold Standard era) is the best approach. This book takes an innovative approach in combining a theoretical analysis (mainly the work of New Neoclassical Synthesis throughout Woodford's model) a history of economic thought analysis (based on the monetary works from Wicksell, Cassel and Keynes) and an historical study of central bank practices both in France (based on Bank of France archives materials) and in Sweden. The final section of the book explores the debate on monetary policy rule in light of the 2008 financial crisis. As such, the book provides a unique synthesis that will be of interest not only to scholars of history of economic thought and economic theory, but also to anyone with an interest in monetary economics and contemporary monetary policy.
Book Synopsis Modern Money Theory by : L. Randall Wray
Download or read book Modern Money Theory written by L. Randall Wray and published by Springer. This book was released on 2015-09-22 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.
Book Synopsis Interest and Prices by : Michael Woodford
Download or read book Interest and Prices written by Michael Woodford and published by Princeton University Press. This book was released on 2011-12-12 with total page 805 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
Book Synopsis Monetary Theory by : Robert A. Mundell
Download or read book Monetary Theory written by Robert A. Mundell and published by . This book was released on 1971 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Instructor's Manual for Money: Theory and Practice by : Jin Cao
Download or read book Instructor's Manual for Money: Theory and Practice written by Jin Cao and published by Springer Nature. This book was released on 2019-12-09 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This instructor’s manual complements the textbook Money: Theory and Practice which provides an introduction to modern monetary economics for advanced undergraduates, highlighting the lessons learned from the recent financial crisis. The manual provides teachers with exercises and examples that reflect 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.
Book Synopsis Central Bank Policy by : Perry Warjiyo
Download or read book Central Bank Policy written by Perry Warjiyo and published by Emerald Group Publishing. This book was released on 2019-07-25 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central Bank Policy: Theory and Practice analyses various policies, theories and practices adopted by central banks, as well as the institutional arrangements underlying the principles of good governance in policy-making. It is the first book to comprehensively discuss the latest theories and practices of central bank policy.
Book Synopsis What's Wrong with Modern Money Theory? by : Gerald A. Epstein
Download or read book What's Wrong with Modern Money Theory? written by Gerald A. Epstein and published by Springer. This book was released on 2019-08-09 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Palgrave Pivot assesses the validity of Modern Money Theory’s approach to macroeconomic policy, specifically monetary and fiscal policy. Whereas other papers have focused primarily on theoretical and doctrinal issues, this book focuses primarily on an analysis of MMT’s policy approach. Though drawing on academic literature, this book’s approach is empirical and policy-based, making it accessible to scholars and the public alike. It addresses a burning question in the policy and politics of the US and elsewhere where MMT is gaining a policy foothold, especially among progressive activists and politicians: Is MMT, in fact, a good guide for progressive macroeconomic policy? The main focus of this book is to explain why the answer to this question is no.
Book Synopsis Central Banking, Monetary Theory and Practice by : Paul Mizen
Download or read book Central Banking, Monetary Theory and Practice written by Paul Mizen and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commenting on the quality of the contributors when opening the conference on which these books are based, the former Governor of the Bank of England, Sir Edward George, said "I cannot remember ever before having had such a galaxy of academic economist and central banking superstars gathered together under one roof!"' Celebrating the contribution that Charles Goodhart has made to monetary economics and policy, this unique compendium of original papers draws together a highly respected group of international academics, central bankers and financial market regulators covering a broad range of issues in modern monetary economics. Topics discussed include: central bank independence credibility and transparency the inflation forecast and the loss function monetary policy experiences in the US and the UK the implications of Goodhart's Law the benefits of single versus multiple currencies money, near monies and credit. Each chapter of the volume relates to subjects that have been research projects in Charles Goodhart's wide-ranging portfolio, and all are interconnected. Through these, the book offers a summary of current thinking and insights into monetary controversies. Covering recent thinking on monetary theory, central banking, financial regulation and international finance, academic and professional economists alike will find this book an invaluable source of information. The companion volume examines monetary history, exchange rates and financial markets.
Book Synopsis The Flow of Funds in Theory and Practice by : Jacob Cohen
Download or read book The Flow of Funds in Theory and Practice written by Jacob Cohen and published by . This book was released on 1987 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis New Approaches to Monetary Theory by : Heiner Ganßmann
Download or read book New Approaches to Monetary Theory written by Heiner Ganßmann and published by Routledge. This book was released on 2012-03-12 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everybody uses money every day, but we rarely stop to think about how money works. In this book, scholars from different disciplines seek to answer that question; from historians to economists, sociologists, a philosopher and a physicist. Money works as a social construction because we have mutual expectations that support its use – despite the seeming irrationality of trading valuable things or doing strenuous work for pieces of paper or numbers in accounts. Recently, there has been a revival of interest in monetary theory, not least because the impacts of globalizing markets and of new communication and information technologies have changed the forms of money. The deep crisis of the financial system has demonstrated the importance of a functioning monetary system and although renewed interest in this has led to significant contributions in various fields, it remains true that no social science discipline on its own is sufficiently equipped to explain the basic workings of monetary systems, their rapid innovation and their effects on social, economic and political structures. The contributors to this book report on their latest research on the origins of money, on the nature of monetary transactions, on money and the state, and on the role of money and finance in the recent global crisis. They show how established theories of money and the policies guided by these theories went wrong. This collection will be a valuable resource for students and researchers seeking a deeper understanding of money.
Book Synopsis Theory in Practice by : Chris Argyris
Download or read book Theory in Practice written by Chris Argyris and published by John Wiley & Sons. This book was released on 1992-04-16 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is a landmark in two fields. It is a practical guide tothe reform of professional education. It is also a beacon totheoretical thinking about human organizations, about theirinterdepAndence with the social structure of the professions, andabout theory in practice." -- Journal of Higher Education
Book Synopsis Modern Monetary Theory and European Macroeconomics by : Dirk H. Ehnts
Download or read book Modern Monetary Theory and European Macroeconomics written by Dirk H. Ehnts and published by Routledge. This book was released on 2016-10-14 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance sheets of the central bank or commercial bank. While households and firms hold accounts at banks with deposits, banks hold an account at the central bank where deposits are called reserves. The book aims to explain how the two monetary circuits – central bank deposits and bank deposits – are intertwined. It is also shown how government spending injects money into the economy. Modern Monetary Theory and European Macroeconomics covers both the general case and then the Eurozone specifically. A very simple macroeconomic model follows which explains the major accounting identities of macroeconomics. Using this new methodology, the Eurozone crisis is examined from a fresh perspective. It turns out that not government debt but the stagnation of private sector debt was the major economic problem and that cuts in government spending worsened the economic situation. The concluding chapters discuss what a solution to the current problems of the Eurozone must look like, with scenarios that examine a future with and without a euro. This book provides a detailed balance sheet view of monetary and fiscal operations, with a focus on the Eurozone economy. Students, policy-makers and financial market actors will learn to assess the institutional processes that underpin a modern monetary economy, in times of boom and in times of bust.
