Monetary Theory And Policy From Hume And Smith To Wicksell

Author : Arie Arnon
Publisher : Cambridge University Press
ISBN 13 : 113949208X
Total Pages : 449 pages
Book Rating : 4.89/5 ( download)

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Download or read book Monetary Theory and Policy from Hume and Smith to Wicksell written by Arie Arnon and published by Cambridge University Press. This book was released on 2010-11-22 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive survey of the major developments in monetary theory and policy from David Hume and Adam Smith to Walter Bagehot and Knut Wicksell. In particular, it seeks to explain why it took so long for a theory of central banking to penetrate mainstream thought. The book investigates how major monetary theorists understood the roles of the invisible and visible hands in money, credit and banking; what they thought about rules and discretion and the role played by commodity-money in their conceptualizations; whether or not they distinguished between the two different roles carried out via the financial system - making payments efficiently within the exchange process and facilitating intermediation in the capital market; how they perceived the influence of the monetary system on macroeconomic aggregates such as the price level, output and accumulation of wealth; and finally, what they thought about monetary policy.

Author :
Publisher : Springer
ISBN 13 : 134912155X
Total Pages : 142 pages
Book Rating : 4.57/5 ( download)

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Download or read book Wicksell’s Monetary Theory written by and published by Springer. This book was released on 1991-06-18 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in Italian in 1983, the book elaborates and interprets Wicksell's monetary theories, contrasting them with the methodological approach of both classical economists and members of the Swedish school.

Author : David Glasner
Publisher : Springer Nature
ISBN 13 : 3030834263
Total Pages : 521 pages
Book Rating : 4.65/5 ( download)

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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.

Author : Augusto Graziani
Publisher : Cambridge University Press
ISBN 13 : 113943800X
Total Pages : 190 pages
Book Rating : 4.01/5 ( download)

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Download or read book The Monetary Theory of Production written by Augusto Graziani and published by Cambridge University Press. This book was released on 2003-09-04 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: In mainstream economic theory money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth. In neither case is it considered fundamental to the production of goods or the distribution of income. Augusto Graziani challenges traditional theories of monetary production, arguing that a modern economy based on credit cannot be understood without a focus on the administration of credit flows. He argues that market asset configuration depends not upon consumer preferences and available technologies but on how money and credit are managed. A strong exponent of the circulation theory of monetary production, Graziani presents an original and perhaps controversial argument that will stimulate debate on the topic.

Author : Arie Arnon
Publisher : Springer Nature
ISBN 13 : 303097703X
Total Pages : 325 pages
Book Rating : 4.30/5 ( download)

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Download or read book Debates in Macroeconomics from the Great Depression to the Long Recession written by Arie Arnon and published by Springer Nature. This book was released on 2022-05-06 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assesses major schools of thought in macroeconomic theory between the Great Depression and the Long Recession, focusing on their analysis of cycles, crises and macro-policy. It explores the road from the dominance of Keynesian ideas to those of New Classical Macroeconomics (NCM) toward the end of the millennium. The book covers the early influential work of Knut Wicksell; the economic debates of the 1930s, with core contributions from John Maynard Keynes and Friedrich von Hayek; the rise of Keynesianism in the 1950s and its decline since the 1970s; the rise of Monetarism in the 1960s; and NCM’s subsequent rise to prominence. Finally, the book outlines how macroeconomics has evolved from its birth in the 1930s as a theory separate from microeconomics, resulting in a split between macro- and micro-theories, and ended up with a new hegemonic paradigm based on microfoundations. The ensuing policy thinking witnessed a transformation from "active" macro-policy after the Great Depression to a far more "passive" macro-policy during the last quarter of the twentieth century, which may have contributed to missing the signs of the impending Long Recession of 2008. “When the 2008 crisis struck, macroeconomists were caught with models that were theoretically elegant yet inappropriate to the needs of the moment. A broader historical perspective may have prevented the jettisoning of Keynesian models that had proved useful in the past and might have done so again. This highly readable book by Arie Arnon is a wonderful antidote to economists’ short time horizon and contributes mightily to restore the profession’s “collective memory” of the diversity of ideas within macroeconomics.” Professor Dani Rodrik, Harvard Kennedy School

Author : Robert W. Clower
Publisher : CUP Archive
ISBN 13 : 9780521335607
Total Pages : 310 pages
Book Rating : 4.04/5 ( download)

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Download or read book Money and Markets written by Robert W. Clower and published by CUP Archive. This book was released on 1986-10-31 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Clower's influential essays discuss monetary economics and monetary behaviour.

Author : Guglielmo Chiodi
Publisher :
ISBN 13 : 9780333545362
Total Pages : 129 pages
Book Rating : 4.62/5 ( download)

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Download or read book Wicksell's Monetary Theory written by Guglielmo Chiodi and published by . This book was released on 1991-01-01 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Ben Fine
Publisher :
ISBN 13 : 9781783717798
Total Pages : 163 pages
Book Rating : 4.93/5 ( download)

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Download or read book Microeconomics written by Ben Fine and published by . This book was released on 2016 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Bruna Ingrao
Publisher : Edward Elgar Publishing
ISBN 13 : 178643153X
Total Pages : 456 pages
Book Rating : 4.30/5 ( download)

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Download or read book Banks and Finance in Modern Macroeconomics written by Bruna Ingrao and published by Edward Elgar Publishing. This book was released on 2019 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world financial crisis of 2007–2008 dramatically showed the importance of credit and financial relations for the efficient working of the economy. For a long time mainstream macroeconomics ignored these aspects and concentrated only on the real sector or just took into account the most elementary picture of the financial side of the economy. This book aims at explaining why this happened through an historical excursion of 20th century mainstream macroeconomic theory.

Author : Steven G Medema
Publisher : Routledge
ISBN 13 : 1136742883
Total Pages : 782 pages
Book Rating : 4.80/5 ( download)

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Download or read book The History of Economic Thought written by Steven G Medema and published by Routledge. This book was released on 2013-05-29 with total page 782 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the ancients to the moderns, questions of economic theory and policy have been an important part of intellectual and public debate, engaging the attention of some of history’s greatest minds. This book brings together readings from more than two thousand years of writings on economic subjects. Through these selections, the reader can see first-hand how the great minds of past grappled with some of the central social and economic issues of their times and, in the process, enhanced our understanding of how economic systems function. This collection of readings covers the major themes that have preoccupied economic thinkers throughout the ages, including price determination and the underpinnings of the market system, monetary theory and policy, international trade and finance, income distribution, and the appropriate role for government within the economic system. These ideas unfold, develop, and change course over time at the hands of scholars such as Aristotle, St. Thomas Aquinas, John Locke, François Quesnay, David Hume, Adam Smith, Thomas Robert Malthus, David Ricardo, John Stuart Mill, Karl Marx, William Stanley Jevons, Alfred Marshall, Irving Fisher, Thorstein Veblen, John Maynard Keynes, Milton Friedman, and Paul Samuelson. Each reading has been selected with a view to both enlightening the reader as to the major contributions of the author in question and to giving the reader a broad view of the development of economic thought and analysis over time. This book will be useful for students, scholars, and lay people with an interest in the history of economic thought and the history of ideas generally.