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The Development Of Monetary Economics
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Book Synopsis The Development of Monetary Economics by : Denis Patrick O'Brien
Download or read book The Development of Monetary Economics written by Denis Patrick O'Brien and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature of monetary economics has been characterised by controversy and changes in the received wisdom throughout its history. The controversies have related not merely to the effects on incomes and prices of changes in the money supply, but even to the question of whether causality runs from money to incomes and prices or vice versa. This book begins with the pioneering work of the sixteenth century French writer Jean Bodin, followed by the celebrated John Law, and John Locke (and his eighteenth century critics). It considers both the theory and the evidence involved in the controversy between the Currency and Banking schools. Closely related to this was the work of two writers, Thomas Joplin and Walter Bagehot, both of whom provided perspectives strikingly different from those of the main controversialists and, in so doing, advanced the subject of monetary economics. The book seeks, through the examination of monetary controversies, to provide an historical perspective on modern understanding of monetary policy. It will be essential reading for economists with an interest in monetary economics and the history of economic thought.
Book Synopsis The Development of Monetary Economics by : Denis Patrick O'Brien
Download or read book The Development of Monetary Economics written by Denis Patrick O'Brien and published by . This book was released on 2007 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Advances in Monetary Economics by : David Currie
Download or read book Advances in Monetary Economics written by David Currie and published by Taylor & Francis. This book was released on 2021-11-30 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1985, Advances in Monetary Economics draws together papers given at the 1984 Money Study Group Conference and additional papers presented in seminars of the same year. The book includes papers on theoretical, empirical and institutional aspects of monetary economics. Each chapter displays a concern with policy in the monetary sphere, both with regards to macroeconomic questions of monetary and fiscal management, and issues of policy at the microeconomic level towards financial institutions and markets. In doing so, the book highlights the importance of monetary economics in policy issues. Advances in Monetary Economics has enduring relevance for those with an interest in the history and development of monetary economics.
Book Synopsis Explorations in the New Monetary Economics by : Tyler Cowen
Download or read book Explorations in the New Monetary Economics written by Tyler Cowen and published by Wiley-Blackwell. This book was released on 1994-02-07 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, for students and specialists in Monetary Economics, is the first systematic examination of monetary economics from a new monetary economics viewpoint - one in which markets provide financial services without recourse to traditional concepts of money.
Book Synopsis Monetary Regimes and Inflation by : Peter Bernholz
Download or read book Monetary Regimes and Inflation written by Peter Bernholz and published by Edward Elgar Publishing. This book was released on 2015-04-30 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the characteristics of inflations and comparing historical cases from Roman times up to the modern day, this book provides an in depth discussion of the subject. It analyses the high and moderate inflations caused by the inflationary bias of
Book Synopsis Towards a New Paradigm in Monetary Economics by : Joseph Stiglitz
Download or read book Towards a New Paradigm in Monetary Economics written by Joseph Stiglitz and published by Cambridge University Press. This book was released on 2003-09-04 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: A pioneer treatment of monetary economics written by two of world's leading authorities.
Download or read book Monetary Economics written by W. Godley and published by Springer. This book was released on 2016-04-30 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how institutions create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.
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 Money in Historical Perspective by : Anna J. Schwartz
Download or read book Money in Historical Perspective written by Anna J. Schwartz and published by University of Chicago Press. This book was released on 2009-02-15 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern monetary economics has been significantly influenced by the knowledge and insight brought to the field by the work of Anna J. Schwartz, an economist whose career has spanned almost half a century. Her contributions evidence a broad expertise in international history and policy, and an ability to apply the results of her careful historical research to current issues and debates. Money in Historical Perspective is a collection of sixteen of her papers selected by Michael D. Bordo and Milton Friedman. Grouped into three sections, the essays constitute a number of Dr. Schwartz's most cited articles on the subject of monetary economics, many of which are no longer readily accessible. In the papers in part I, dating from 1947 to the present, Dr. Schwartz examines money and banking in the United States and the United Kingdom from a historical perspective. Her investigation of the historical evidence linking economic instability to erratic monetary behavior—this behavior itself a product of discretionary monetary policy—has led her to argue for the importance of stable money, and her writings on these issues over the last two decades form part II. The volume concludes with four recent articles on international monetary arrangements, including Dr. Schwartz's well-known work on the gold standard. This volume of classic essays by Anna Schwartz will be a useful addition to the libraries of scholars and students for its exemplary historical research and commentary on monetary systems.
Book Synopsis The Golden Age of the Quantity Theory by : David E.W. Laidler
Download or read book The Golden Age of the Quantity Theory written by David E.W. Laidler and published by Princeton University Press. This book was released on 2014-07-14 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: How did neoclassical monetary economics, as epitomized by the work of Fisher, Wicksell, and the Cambridge School, evolve from the classical orthodoxy that dominated economics in the 1870s? To answer this question, David Laidler considers the interaction of theoretical developments with contemporary policy debates about bimetallism and the evolution of the gold exchange standard. He argues that neoclassical monetary economics, in which the quantity theory of money played a central role, laid the intellectual groundwork for the replacement of the gold standard by various managed monetary systems in the years following World War I. Laidler is one of the world's foremost experts on monetary economics, and this book provides an illuminating account and analysis of one of the most important periods in the development of that field. Scholars of the history of economic thought and all monetary economists will find that The Golden Age of the Quantity Theory is the most systematic treatment of the development of monetary economics between 1870 and 1914 currently available. Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Book Synopsis Money and its Origins by : Shahzavar Karimzadi
Download or read book Money and its Origins written by Shahzavar Karimzadi and published by Routledge. This book was released on 2012-07-26 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of the origin of money has been a topic of interest and discussion to almost all schools of economic thought. However, in spite of minor differences of interpretation, most views share an underlying core principal about the rise and origin of money, implicit in which is the central belief that barter exchange preceded the money economy. This new book offers a challenge to this belief, and argues that it is only by making this challenge that we will be in the position to accurately trace the roots of money. In an ambitious undertaking, the book has gathered and classified the major theories of the origin of money and assessed each at length, before presenting an innovative, alternative theoretical framework for the formation and the rise of money. It blends the objections made against the principal explanations of the origins of money and presents a terminological clarification between what can or cannot be classified as money. This study has wide-ranging implications, in terms of both the operation of the economy and the implementation of monetary policy, and will be of interest to all those working in the areas of finance, monetary economics, economic theory and the history of economic thought.
Book Synopsis Studies in the History of Monetary Theory by : David Glasner
Download or read book Studies in the History of Monetary Theory written by David Glasner and published by Springer Nature. This book was released on 2021-11-01 with total page 521 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an alternative approach to monetary theory that differs from the General Theory of Keynes, the Monetarism of Friedman, and the New Classicism of Lucas. Particular attention is given to the work of Hawtrey and his analysis of financial crises and his explanation of the Great Depression. The unduly neglected monetary theory of Hawtrey is examined in the context of his contemporaries Keynes and Hayek and the subsequent contributions of Friedman and of the Monetary Approach to the Balance of Payments. Studies in the History of Monetary Theory aims to highlight the misunderstandings of the quantity theory and the price-specie-flow mechanism and to explain their unfortunate consequences for the subsequent development of monetary theory. The book is relevant to researchers, students, and policymakers interested in the history of economic thought, monetary theory, and monetary policy.
Book Synopsis From Gold to Euro by : Heinz-Peter Spahn
Download or read book From Gold to Euro written by Heinz-Peter Spahn and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the evolution of monetary systems. Firstly, it argues that money forms a constitutional element in any private-ownership economy, estab lishing a nominal-standard order for the market behaviour of individual agents. The market economy is basically a payment society where money structures and values economic activities, and performs itself as a market asset. The use of re sources and the production of commodities are governed by calculations in mone tary values which subordinate production and employment to the logic of asset markets. The "veil" of money cannot be withdrawn, as a matter of fact and in theoretical analysis, without changing the economic order of society. Money originates from a credit relation between market agents, thus spot payments re place intertemporal exchange. Problems of low trust and information in mutual economic relations are projected onto the money medium in a monetary economy, thereby enhancing its efficiency and dynamics. The rate of interest is not related to time; it is the price for maintaining the agents' solvency in the current period, and it determines a positive rate of return on capital and production. Secondly, the book shows that network externalities in the use of money led to monopoly solutions in the national and hegemonic leader-follower relations in the international economy.
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.
Download or read book Monetary Economics written by W. Godley and published by Springer. This book was released on 2006-12-01 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how it is institutions which create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.
Book Synopsis Money and Capital in Economic Development by : Ronald I. McKinnon
Download or read book Money and Capital in Economic Development written by Ronald I. McKinnon and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.
Book Synopsis History of Monetary and Credit Theory by : Charles Rist
Download or read book History of Monetary and Credit Theory written by Charles Rist and published by Routledge. This book was released on 2016-11-10 with total page 571 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1940, this book traces the development of theories concerning currency and credit from the beginning of the eighteenth century to the middle of the twentieth. It provides a comprehensive account of the political and economic conditions in which the theories and controversies arose, with the result that the work has become a classic in its field.
