https://books.google.com/books?id=PEFdDwAAQBAJ&pri... - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook https://books.google.com/books?id=PEFdDwAAQBAJ&pri... write by . This book was released on . https://books.google.com/books?id=PEFdDwAAQBAJ&pri... available in PDF, EPUB and Kindle.
Money: Theory and Practice
Money: Theory and Practice - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Money: Theory and Practice write by Jin Cao. This book was released on 2019-12-07. Money: Theory and Practice available in PDF, EPUB and Kindle. 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.
Monetary Theory and Policy
Monetary Theory and Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Monetary Theory and Policy write by Carl E. Walsh. This book was released on 2003. Monetary Theory and Policy available in PDF, EPUB and Kindle. An overview of recent theoretical and policy-related developments in monetary economics.
Collected Papers on Monetary Theory
Collected Papers on Monetary Theory - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Collected Papers on Monetary Theory write by Robert E. Lucas Jr.. This book was released on 2013-01-07. Collected Papers on Monetary Theory available in PDF, EPUB and Kindle. 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.
Modern Monetary Theory and Practice: an Introductory Text
Modern Monetary Theory and Practice: an Introductory Text - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Modern Monetary Theory and Practice: an Introductory Text write by W. Mitchell. This book was released on 2016-03-10. Modern Monetary Theory and Practice: an Introductory Text available in PDF, EPUB and Kindle. 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.
