Monetarist Economics
| Author | : Milton Friedman |
| Publisher | : Wiley-Blackwell |
| Total Pages | : 188 |
| Release | : 1991-01 |
| Genre | : Business & Economics |
| ISBN | : 9780631171119 |
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Testing Monetarism
| Author | : Meghnad Desai |
| Publisher | : Bloomsbury Publishing |
| Total Pages | : 259 |
| Release | : 2013-11-07 |
| Genre | : Business & Economics |
| ISBN | : 147250836X |
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Testing Monetarism pursues the complex question of the nature of the controversy surrounding monetarist theory and evidence, and the reasons for the persistence of this controversy. The theory of monetarism is examined in its old guise as the Quantity Theory of Money, and subsequent chapters look at the evolution of the theory to its present form in the period since the 1950's, and Desai weaves together issues of theory with those of econometric evidence. He looks in turn at major predictions of monetarism, critically examining the claims made in the literature in the light of his discussion of the methodology of testing theories and highlights flaws in the empirical data surrounding monetarism.
Monetarist Perspectives
| Author | : David E. W. Laidler |
| Publisher | : Harvard University Press |
| Total Pages | : 236 |
| Release | : 1982 |
| Genre | : Business & Economics |
| ISBN | : 9780674582408 |
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Here is a clear and thoughtful introduction to the current literature of monetary economics and macroeconomics. The book's central theme is a view of the macroeconomy in which recession and inflation are to be interpreted as the result of the economy adjusting to a discrepancy between the quantity of money supplied and the quantity of money demanded, with the latter quantity being determined by a stable aggregate demand function. The author discusses in turn the place of monetarism in macroeconomics, its implications for the interpretation of the short-run demand for money function, its relationship to equilibrium business cycle theory, the disequilibrium transmission mechanism that underlies the monetarist viewpoint, and finally its implications for the policy of âeoegradualism.âe He synthesizes a large body of theoretical and empirical literature, and his empirical observations are broadly based on the experiences of England and Australia as well as Canada and the United States. Each chapter can be read apart from the others, and Laidler has taken particular care to keep the technical level of exposition low without sacrificing much in the way of theoretical sophistication.
Money, Banking, and the Economy
| Author | : Barry N. Siegel |
| Publisher | : Academic Press |
| Total Pages | : 558 |
| Release | : 2014-05-10 |
| Genre | : Business & Economics |
| ISBN | : 1483277534 |
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Money, Banking, and the Economy: A Monetarist View presents a systematic "monetarist" approach to money, banking, and the economy. The monetarist approach is a blend of the pre-Keynesian quantity theory, the tradition represented by D. H. Robertson, and the modern monetarist school, represented by Milton Friedman and his followers. A systematic development of a model of nominal income, based upon the Cambridge equation and the loanable funds theory of interest, is presented. This model is applied to the business cycle; inflation and stagflation; balance of payments and foreign exchange rates; and monetary and fiscal policy theories. Comprised of 20 chapters, this book begins with an introduction to the concept of money and its functions and how it contributes to economic instability. The discussion then turns to the new and old definitions of the things that serve as money, the structure and institutions of financial markets and financial instruments; banks, banking markets, and banking regulations; and the money supply process. Subsequent chapters explore the structure and functions of the Federal Reserve System; the problem of implementing monetary policy; the Clower-Leijonhufvud idea of Say's Principle; the quantity theory of money as described by the equation of exchange or the Cambridge equation; and the connection between money and business cycles. The book concludes by describing a monetarist-public choice perspective on the efficacy of monetary and fiscal policies. This monograph will be of value to undergraduate students and economists.
Monetarism and the Demise of Keynesian Economics
| Author | : G.R. Steele |
| Publisher | : Palgrave Macmillan |
| Total Pages | : 176 |
| Release | : 1989-06-25 |
| Genre | : Business & Economics |
| ISBN | : |
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An examination of the role of money in a dynamic economy within the context of theoretical developments both within and in opposition to, the Quantity Theory tradition. Emphasis is on the dangers of basing economic policy on macroeconomic analysis.
Karl Brunner and Monetarism
| Author | : Thomas Moser |
| Publisher | : MIT Press |
| Total Pages | : 505 |
| Release | : 2022-03-15 |
| Genre | : Business & Economics |
| ISBN | : 0262369680 |
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Economists consider the legacy of Karl Brunner’s monetarism and its influence on current debates over monetary policy. Monetarism emerged in the 1950s and 1960s as a school of economic thought that questioned certain tenets of Keynesianism. Emphasizing the monetary nature of inflation and the responsibility of central banks for price stability, monetarism held sway in the inflation-plagued 1970s, but saw its influence begin to decline in the 1980s. Although Milton Friedman is the economist most closely associated with the development of monetarism, it was Karl Brunner (1916–1989) who introduced the term into the current vocabulary of economics and shaped its meaning. In this volume, leading economists—many of them Brunner’s friends and former colleagues—consider the influence of Brunner’s monetarism on current debates over monetary policy. Some contributors were participants in debates between Keynesians and monetarists; others analyze specific aspects of monetarism as theorized by Brunner and his close collaborator Allan Meltzer, or address its influence on US and European monetary policy. Others take the opportunity to examine Brunner-Meltzer monetarism through the lens of contemporary macroeconomics and monetary models. The book grows out of a symposium that marked the 100th anniversary of Brunner’s birth. Contributors Ernst Baltensperger, Michael D. Bordo, Pierrick Clerc, Alex Cukierman, Michel De Vroey, James Forder, Benjamin M. Friedman, Kevin D. Hoover, Thomas J. Jordan, David Laidler, Allan H. Meltzer, Thomas Moser, Edward Nelson, Juan Pablo Nicolini, Charles I. Plosser, Kenneth Rogoff, Marcel Savioz, Jürgen von Hagen, Stephen Williamson
The Monetarists
| Author | : George S. Tavlas |
| Publisher | : University of Chicago Press |
| Total Pages | : 651 |
| Release | : 2023-06-01 |
| Genre | : History |
| ISBN | : 0226823199 |
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An essential origin story of modern society’s most influential economic doctrine. The Chicago School of economic thought has been subject to endless generalizations—and mischaracterizations—in contemporary debate. What is often portrayed as a monolithic obsession with markets is, in fact, a nuanced set of economic theories born from decades of research and debate. The Monetarists is a deeply researched history of the monetary policies—and personalities—that codified the Chicago School of monetary thought from the 1930s through the 1960s. These policies can be characterized broadly as monetarism: the belief that prices and interest rates can be kept stable by controlling the amount of money in circulation. As economist George S. Tavlas makes clear, these ideas were more than just the legacy of Milton Friedman; they were a tradition in theory brought forth by a crucible of minds and debates throughout campus. Through unprecedented mining of archival material, The Monetarists offers the first complete history of one of the twentieth century’s most formative intellectual periods and places. It promises to elevate our understanding of this doctrine and its origins for generations to come.
Money and the Economy
| Author | : William Poole |
| Publisher | : Reading, Mass. : Addison-Wesley Publishing Company |
| Total Pages | : 140 |
| Release | : 1978 |
| Genre | : Inflation (Finance). |
| ISBN | : |
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Monetarism, Economic Crisis, and the Third World
| Author | : Karel Jansen |
| Publisher | : Psychology Press |
| Total Pages | : 216 |
| Release | : 1983 |
| Genre | : Business & Economics |
| ISBN | : 9780714640372 |
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First Published in 1983. Routledge is an imprint of Taylor & Francis, an informa company.
The Money Illusion
| Author | : Scott Sumner |
| Publisher | : University of Chicago Press |
| Total Pages | : 415 |
| Release | : 2023-05-06 |
| Genre | : Business & Economics |
| ISBN | : 0226826562 |
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The first book-length work on market monetarism, written by its leading scholar. Is it possible that the consensus around what caused the 2008 Great Recession is almost entirely wrong? It’s happened before. Just as Milton Friedman and Anna Schwartz led the economics community in the 1960s to reevaluate its view of what caused the Great Depression, the same may be happening now to our understanding of the first economic crisis of the 21st century. Foregoing the usual relitigating of problems such as housing markets and banking crises, renowned monetary economist Scott Sumner argues that the Great Recession came down to one thing: nominal GDP, the sum of all nominal spending in the economy, which the Federal Reserve erred in allowing to plummet. The Money Illusion is an end-to-end case for this school of thought, known as market monetarism, written by its leading voice in economics. Based almost entirely on standard macroeconomic concepts, this highly accessible text lays the groundwork for a simple yet fundamentally radical understanding of how monetary policy can work best: providing a stable environment for a market economy to flourish.
