Explorations in the New Monetary Economics
Author | : Tyler Cowen |
Publisher | : |
Total Pages | : 200 |
Release | : 1994 |
Genre | : |
ISBN | : |
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Author | : Tyler Cowen |
Publisher | : |
Total Pages | : 200 |
Release | : 1994 |
Genre | : |
ISBN | : |
Author | : Tyler Cowen |
Publisher | : Wiley-Blackwell |
Total Pages | : 675 |
Release | : 1994-02-07 |
Genre | : |
ISBN | : 9781557860712 |
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.
Author | : Mr.Olivier J. Blanchard |
Publisher | : International Monetary Fund |
Total Pages | : 29 |
Release | : 2015-11-06 |
Genre | : Business & Economics |
ISBN | : 1513555839 |
We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years in 23 countries. We find that a high proportion of them have been followed by lower output or even lower growth. To examine the second, we estimate a Phillips curve relation over the past 50 years for 20 countries. We find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then. We draw implications of our findings for monetary policy.
Author | : Gary Dymski |
Publisher | : |
Total Pages | : 432 |
Release | : 1994 |
Genre | : Biography & Autobiography |
ISBN | : |
"The defining characteristic of the monetary and financial systems of the capitalist economies since the 1960s has been persistent and fundamental change. Some indicators of this change include the patterns toward financial deregulation, historically high interest rates, and increasingly frequent and severe bouts of financial instability. The essays in this book build from the contributions of Hyman P. Minsky, whose theories in the areas of monetary macroeconomics, unlike those of nearly all practitioners in this field, have sought to understand the processes of structural change and instabilities as inherent features of capitalist economies." "New Perspectives in Monetary Macroeconomics includes essays that explore the nature of Keynesian uncertainty and the systematic sources of financial instability; empirical essays that consider, among other topics, instability in the contemporary international economy, the Latin American debt crisis, the Great Depression, and the political forces influencing central banks; and essays in analytic history that consider the connections between Minsky's work and that of Schumpeter, Marx, and the Sraffian school." "The book's overall contribution advances thinking in four interrelated areas: how financial factors play a central role in establishing the pace and direction of real investment; how financial fragility emerges through endogenous market practices; how money and credit are generated endogenously through financial market activity rather than simply through prior saving and central bank interventions; and how financial markets are an important site of inter- and intra-class conflict, especially as manifested through the policies of central banks and other important governmental institutions."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved
Author | : L. Randall Wray |
Publisher | : Springer |
Total Pages | : 322 |
Release | : 2015-09-22 |
Genre | : Business & Economics |
ISBN | : 1137539925 |
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.
Author | : Gary Dymski |
Publisher | : |
Total Pages | : 414 |
Release | : 1997 |
Genre | : |
ISBN | : |
Author | : Frank William Taussig |
Publisher | : |
Total Pages | : 566 |
Release | : 1936 |
Genre | : Economics |
ISBN | : |
Author | : Harry Johnson |
Publisher | : Collected Works of Harry G. Johnson |
Total Pages | : 0 |
Release | : 2022-06-17 |
Genre | : Fiscal policy |
ISBN | : 9781032051376 |
Reprinting the second edition (which included a new introduction explaining developments which had emerged since first publication) this book discusses: explorations in the fundamental theory of a monetary economy a theoretical critique of the 'Phillips Curve' approach to the theory of inflation the theory of the term structure of interest rates in terms of the theory of forward markets pioneered by David Meiselman.
Author | : Stephanie Kelton |
Publisher | : PublicAffairs |
Total Pages | : 311 |
Release | : 2020-06-09 |
Genre | : Business & Economics |
ISBN | : 1541736206 |
A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.
Author | : Lars Jonung |
Publisher | : Routledge |
Total Pages | : 272 |
Release | : 2006-05-18 |
Genre | : Business & Economics |
ISBN | : 1134938101 |
The impact of Swedish economists on the development of modern economic analysis has been profound. This volume contains twelve essays dealing with various aspects of the development of economics and economic thought from the mid 18th century to the middle of the 20th century. Most of the essays cover the golden age of Swedish economics, the early decades of the 20th century, and deal with such figures as Knut Wicksell, Gustav Cassel, Eli Heckscher, Bertil Ohlin, Erik Lindahl and Erik Lundberg. The book includes a chapter on an unpublished manuscript of Knut Wicksell's which is reproduced in English for the first time