Money Theory And Practice

Author : Jin Cao
Publisher : Springer Nature
ISBN 13 : 3030196976
Total Pages : 412 pages
Book Rating : 4.74/5 ( download)

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Download or read book Money: Theory and Practice written by Jin Cao and published by Springer Nature. This book was released on 2019-12-07 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides an introduction to modern monetary economics for advanced undergraduates, highlighting the lessons learned from the recent financial crisis. The book presents both the core New Keynesian model and recent advances, taking into account financial frictions, and discusses recent research on an intuitive level based on simple static and two-period models, but also prepares readers for an extension to a truly dynamic analysis. Further, it offers a systematic perspective on monetary policy, covering a wide range of models to help readers gain a better understanding of controversial issues. Part I examines the long-run perspective, addressing classical monetary policy issues such as determination of the price level and interaction between monetary and fiscal policy. Part II introduces the core New Keynesian model, characterizing optimal monetary policy to stabilize short-term shocks. It discusses rules vs. discretion and the challenges arising from control errors, imperfect information and robustness issues. It also analyzes optimal control in the presence of an effective lower bound. Part III focuses on modelling financial frictions. It identifies the transmission mechanisms of monetary policy via banking and introduces models with incomplete markets, principal-agent problems, maturity mismatch and leverage cycles, to show why investors’ and intermediaries’ own stakes play a key role in lending with pro-cyclical features. In addition, it presents a tractable model for handling liquidity management and demonstrates that the need to sell assets in crisis amplifies the volatility of the real economy. Lastly, the book discusses the relation between monetary policy and financial stability, addressing systemic risk and the role of macro-prudential regulation.

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ISBN 13 :
Total Pages : pages
Book Rating : 4./5 ( download)

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Download or read book https://books.google.com/books?id=PEFdDwAAQBAJ&pri... written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Carl E. Walsh
Publisher : MIT Press
ISBN 13 : 9780262232319
Total Pages : 636 pages
Book Rating : 4.16/5 ( download)

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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.

Author : L. Randall Wray
Publisher : Springer
ISBN 13 : 1137539925
Total Pages : 322 pages
Book Rating : 4.22/5 ( download)

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Download or read book Modern Money Theory written by L. Randall Wray and published by Springer. This book was released on 2015-09-22 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Sergio Rossi
Publisher : Routledge
ISBN 13 : 1134190786
Total Pages : 237 pages
Book Rating : 4.82/5 ( download)

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Download or read book Money and Payments in Theory and Practice written by Sergio Rossi and published by Routledge. This book was released on 2007-03-01 with total page 237 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, Serg

Author : W. Mitchell
Publisher :
ISBN 13 : 9781530338795
Total Pages : 394 pages
Book Rating : 4.94/5 ( download)

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Download or read book Modern Monetary Theory and Practice: an Introductory Text written by W. Mitchell and published by . This book was released on 2016-03-10 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern Monetary Theory and Practice: An Introductory Text is an introductory textbook for university-level macroeconomics students. It is based on the principles of Modern Monetary Theory (MMT) and includes the following detailed chapters:Chapter 1: IntroductionChapter 2: How to Think and Do MacroeconomicsChapter 3: A Brief Overview of the Economic History and the Rise of CapitalismChapter 4: The System of National Income and Product AccountsChapter 5: Sectoral Accounting and the Flow of FundsChapter 6: Introduction to Sovereign Currency: The Government and its MoneyChapter 7: The Real Expenditure ModelChapter 8: Introduction to Aggregate SupplyChapter 9: Labour Market Concepts and MeasurementChapter 10: Money and BankingChapter 11: Unemployment and InflationChapter 12: Full Employment PolicyChapter 13: Introduction to Monetary and Fiscal Policy OperationsChapter 14: Fiscal Policy in Sovereign nationsChapter 15: Monetary Policy in Sovereign NationsIt is intended as an introductory course in macroeconomics and the narrative is accessible to students of all backgrounds. All mathematical and advanced material appears in separate Appendices.

Author : Dirk H. Ehnts
Publisher : Routledge
ISBN 13 : 1317224795
Total Pages : 239 pages
Book Rating : 4.92/5 ( download)

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Download or read book Modern Monetary Theory and European Macroeconomics written by Dirk H. Ehnts and published by Routledge. This book was released on 2016-10-14 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance sheets of the central bank or commercial bank. While households and firms hold accounts at banks with deposits, banks hold an account at the central bank where deposits are called reserves. The book aims to explain how the two monetary circuits – central bank deposits and bank deposits – are intertwined. It is also shown how government spending injects money into the economy. Modern Monetary Theory and European Macroeconomics covers both the general case and then the Eurozone specifically. A very simple macroeconomic model follows which explains the major accounting identities of macroeconomics. Using this new methodology, the Eurozone crisis is examined from a fresh perspective. It turns out that not government debt but the stagnation of private sector debt was the major economic problem and that cuts in government spending worsened the economic situation. The concluding chapters discuss what a solution to the current problems of the Eurozone must look like, with scenarios that examine a future with and without a euro. This book provides a detailed balance sheet view of monetary and fiscal operations, with a focus on the Eurozone economy. Students, policy-makers and financial market actors will learn to assess the institutional processes that underpin a modern monetary economy, in times of boom and in times of bust.

Author : Nicolas Barbaroux
Publisher : Routledge
ISBN 13 : 1135067945
Total Pages : 246 pages
Book Rating : 4.46/5 ( download)

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Download or read book Monetary Policy Rule in Theory and Practice written by Nicolas Barbaroux and published by Routledge. This book was released on 2013-08-21 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new volume sheds new light on current monetary issues, in particular the debate on monetary policy making, by blending theoretical economic analysis, history of economics, and historical case studies. A discretionary monetary policy refers to cases in which the central bank is free to change its policy actions or key instruments when the need arises, whilst a monetary policy rule can be defined as a commitment from (independent) central banks to reach one or several objective(s) by way of systematic policy actions. This book uses case studies from France and Sweden, and places them in the context of Keynes’ argument from his 1923 ‘Tract on Monetary Reforms’, to support the argument that the use of discretionary practices within a monetary policy rule (such as in the Gold Standard era) is the best approach. This book takes an innovative approach in combining a theoretical analysis (mainly the work of New Neoclassical Synthesis throughout Woodford's model) a history of economic thought analysis (based on the monetary works from Wicksell, Cassel and Keynes) and an historical study of central bank practices both in France (based on Bank of France archives materials) and in Sweden. The final section of the book explores the debate on monetary policy rule in light of the 2008 financial crisis. As such, the book provides a unique synthesis that will be of interest not only to scholars of history of economic thought and economic theory, but also to anyone with an interest in monetary economics and contemporary monetary policy.

Author : Jin Cao
Publisher : Springer Nature
ISBN 13 : 3030236188
Total Pages : 218 pages
Book Rating : 4.82/5 ( download)

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Download or read book Instructor's Manual for Money: Theory and Practice written by Jin Cao and published by Springer Nature. This book was released on 2019-12-09 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This instructor’s manual complements the textbook Money: Theory and Practice which provides an introduction to modern monetary economics for advanced undergraduates, highlighting the lessons learned from the recent financial crisis. The manual provides teachers with exercises and examples that reflect both the core New Keynesian model and recent advances, taking into account financial frictions, and discusses recent research on an intuitive level based on simple static and two-period models.

Author : Robert E. Lucas Jr.
Publisher : Harvard University Press
ISBN 13 : 0674071212
Total Pages : 517 pages
Book Rating : 4.16/5 ( download)

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Download or read book Collected Papers on Monetary Theory written by Robert E. Lucas Jr. and published by Harvard University Press. This book was released on 2013-01-07 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Lucas is one of the outstanding monetary theorists of the past hundred years. Along with Knut Wicksell, Irving Fisher, John Maynard Keynes, James Tobin, and Milton Friedman (his teacher), Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange. Lucas’s contributions are both methodological and substantive. Methodologically, he developed dynamic, stochastic, general equilibrium models to analyze economic decision-makers operating through time in a complex, probabilistic environment. Substantively, he incorporated the quantity theory of money into these models and derived its implications for money growth, inflation, and interest rates in the long run. He also showed the different effects of anticipated and unanticipated changes in the stock of money on economic fluctuations, and helped to demonstrate that there was not a long-run trade-off between unemployment and inflation (the Phillips curve) that policy-makers could exploit. The twenty-one papers collected in this volume fall primarily into three categories: core monetary theory and public finance, asset pricing, and the real effects of monetary instability. Published between 1972 and 2007, they will inspire students and researchers who want to study the work of a master of economic modeling and to advance economics as a pure and applied science.