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The Theory Of Money And Financial Institutions
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Book Synopsis The Theory of Money and Financial Institutions by : Martin Shubik
Download or read book The Theory of Money and Financial Institutions written by Martin Shubik and published by MIT Press. This book was released on 1999 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Book Synopsis The Theory of Monetary Institutions by : Lawrence White
Download or read book The Theory of Monetary Institutions written by Lawrence White and published by Wiley-Blackwell. This book was released on 1999-06-18 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Theory of Monetary Institutions covers free banking monetary thought and a theoretical account of the evolution of monetary institutions.
Book Synopsis A Theory of Money and Financial Institutions by : Martin Shubik
Download or read book A Theory of Money and Financial Institutions written by Martin Shubik and published by . This book was released on 1971 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Money, Financial Institutions and Macroeconomics by : Avi Cohen
Download or read book Money, Financial Institutions and Macroeconomics written by Avi Cohen and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money, Financial Institutions and Macroeconomics presents a comparative and international perspective on the current state of research in monetary theory, and the application of monetary theory to important policy issues. The main emphasis is on views stressing the importance of credit creation in the monetary process, in a tradition which arguably encompasses Wicksell, the later Swedes and the Austrians, through the later Hicks, the circuit school and contemporary post-Keynesians. In addition, however, there are distinguished contributions from economists with a more `mainstream' approach to the issues. The book is subdivided into four main parts: Part I reviews the theory of a monetary and credit economy; Part II explores alternative views on money and credit; Part III deals with monetary policy issues in North America; and Part IV discusses monetary policy issues in Europe. `Taken together, the contributions to this volume certainly bear out Hick's famous adage about the much closer relationship between `monetary theory' and `monetary history' than is the case in other branches of economic thought.'
Book Synopsis The Theory of Money and Financial Institutions: Introduction and background by : Martin Shubik
Download or read book The Theory of Money and Financial Institutions: Introduction and background written by Martin Shubik and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Theory of Money and Financial Institutions by : Martin Shubik
Download or read book A Theory of Money and Financial Institutions written by Martin Shubik and published by . This book was released on 1976 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Theory of Money and Financial Institutions by : Martin Shubik
Download or read book The Theory of Money and Financial Institutions written by Martin Shubik and published by . This book was released on 2006 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: A game theoretic approach to the theory of money and financial institution is given utilizing both the strategic and coalitional forms for describing the economy. The economy is first modeled as a strategic market game, then the strategic form is used to calculate several cooperative forms that differ from each other in their utilization of money and credit and their treatment of threats. It is shown that there are natural upper and lower bounds to the monetary needs of an economy, but even in the extreme structures the concept of quot;enough moneyquot; can be defined usefully, and for large economies the games obtained from the lower and upper bounds have cores that approach the same limit that is an efficient price system. The role of disequilibrium is then discussed.
Book Synopsis Theories of Money and Banking by : L. Randall Wray
Download or read book Theories of Money and Banking written by L. Randall Wray and published by Edward Elgar Publishing. This book was released on 2012-09-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Randall Wray's two volumes provide a bright beacon in a darkening night of turmoil, confusion and ignorance. By bringing together classics from both the mainstream and heterodox approaches to monetary theory and policy, Wray provides a fundamental resource for the urgently needed rethink on how the interrelated world of monetary production economies functions or misfunctions, and also a basis for the development of a sound theory on how to erect effective policies for tackling major, potentially disastrous problems.' - Geoffrey Harcourt, University of New South Wales, Australia This authoritative two-volume collection brings together the most important contributions to theories of money and banking written over the past century. Professor Wray covers a number of key topics including the historical debates about the nature of money, the role money and financial institutions play in the economy and monetary policy formation. A wide variety of approaches to money and banking are featured, among which are Monetarist, Keynesian, Marxian, Post-Keynesian and Institutionalist, and the New Monetary Consensus. Also included are a number of chapters presenting General Equilibrium, Chartalist or State Money, and Circuitiste views. In addition to the views of economists, this well-rounded set incorporates historical, sociological and anthropological approaches to money as well as theoretical topics such as interest rate, inflation rate, and exchange rate determination. This collection, along with an original introduction by the editor, will be of immense value to anyone with an interest in the field of money and banking.
Book Synopsis Why is There Money? by : Ross M. Starr
Download or read book Why is There Money? written by Ross M. Starr and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This book makes compelling reading for anyone interested in exploring the foundations of monetary theory from a rigorous general equilibrium perspective.' – Gabriele Camera, Purdue University, US 'Introducing the Arrow-Debreu-Starr model of monetary general equilibrium, Professor Starr provides the best defense ever made for the relevance of the Walrasian model to the pure theory of money. While most monetary theorists ventured to the overlapping generations model and then to the search model, only to create recently a hybrid search-Walrasian model, Starr presents the culmination of a patient, career-long effort to integrate money into the basic Walrasian model, with realistic taxation critically helping the government's money to dominate.' – Dror Goldberg, Bar Ilan University, Israel The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading post models. It has long been recognized that the fundamental theoretical analysis of a market economy is embodied in the Arrow-Debreu-Walras mathematical general equilibrium model, with one great deficiency: the analysis cannot accommodate money and financial institutions. In this groundbreaking book, Ross M. Starr addresses this problem directly, by expanding the Arrow-Debreu model to include a multiplicity of trading opportunities, with the resultant endogenous derivation of money as the carrier of value among them. This fundamental breakthrough is achieved while maintaining the Walrasian general equilibrium price-theoretic structure, augmented primarily by the introduction of separate bid and ask prices reflecting transaction costs. The result is foundations of monetary theory consistent with and derived from modern price theory. This fascinating book will provide a stimulating and thought-provoking read for academics and postgraduate students focusing on economics, macroeconomics, macroeconomic policy and finance, money and banking. Central bankers will also find much to interest them within this book.
Book Synopsis Money and Financial Systems (Latest Edition) by : Dr. V. C. Sinha
Download or read book Money and Financial Systems (Latest Edition) written by Dr. V. C. Sinha and published by SBPD Publishing House. This book was released on 2020-09-22 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money and Financial Systems by Dr. V. C. Sinha and Dr. J. C. Varshney is a publication of SBPD Publishing House, Agra. This book is addressed to the students of monetary economics. Much of the discussion in the book relates to the financial institutions, theory of money and credit supply and monetary and credit policy. In the 1990’s, the economic reforms were started in the Indian economy and financial sector reforms were the key to these reforms. Therefore, in the past one decade or more, the financial sector in India has undergone historical changes. The authors have tried to incorporate all those changes in the book and have given the latest picture of the financial sector to the students.
Book Synopsis Money and Financial Institutions by : Martin Shubik
Download or read book Money and Financial Institutions written by Martin Shubik and published by Edward Elgar Publishing. This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents Martin Shubik's important contribution to the development of game theory, and shows how game theory methods can be used in the study of prices, money and financial institutions. After introducing the reader to his career and the influences which developed his research, Professor Martin Shubik addresses the price system considering issues such as competitive equilibrium, economic exchange and production. He explores the competitive price system and the emergence of money and financial systems to develop a theory of monetary and financial institutions. Specifically, he examines the role of money in the economy using both cooperative and non-cooperative solutions in game theory. Throughout the book Martin Shubik stresses that the value of games, which can be both played and analysed, provides an important link between theory and process and institutional studies. This book will be welcomed by economists, especially those interested in game theory, as well as by money and banking professionals.
Book Synopsis The Theory of Money and Credit by : Ludwig Von Mises
Download or read book The Theory of Money and Credit written by Ludwig Von Mises and published by Ludwig von Mises Institute. This book was released on 1953 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Money, Banking, and Economic Activity by : Gail E. Makinen
Download or read book Money, Banking, and Economic Activity written by Gail E. Makinen and published by Academic Press. This book was released on 2014-05-10 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money, Banking, and Economic Activity focuses on the use of macro- and microeconomic theory in the analysis of the interrelations of money, banking, and economic activity. The book first underscores the importance and definition of money and financial intermediaries. Discussions focus on financial intermediaries and risk reduction, ability of intermediaries to decrease their own risks, effect of inflation on credit monies, and empirical definition of money. The text then examines the supply of money and the economic role of nonmoney-creating financial intermediaries, including thrift institutions and monetary policy, federal funds and repurchase agreements, monetary analysis and the place of thrift institutions, and developments altering the functions of financial intermediaries. The publication takes a look at the evolution of the international monetary system, money in an open economy, electronic fund transfers, and the Gibson paradox and the term structure of interest rates. Topics include level of interest rates, importance of theories of the term structure, market structure of financial institutions, theory of the supply of money, and foreign exchanges and the balance of payments. The manuscript is a valuable source of data for researchers interested in the interrelations of money, banking, and economic activity.
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 with total page 166 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 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 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 The Economics of Money, Banking, and Financial Markets by : Frederic S. Mishkin
Download or read book The Economics of Money, Banking, and Financial Markets written by Frederic S. Mishkin and published by ADDISON WESLEY. This book was released on 2003 with total page 842 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the sprawling gothic city of New Crobuzon, a stranger requests the services of Isaac, an overweight and slightly eccentric scientist. But it is an impossible request--that of flight--and in the end Isaac's attempts will only succeed in unleashing a dark force upon the city.
