Modern monetary theory and European macroeconomics için kapak resmi
Başlık:
Modern monetary theory and European macroeconomics
Yazar:
Ehnts, Dirk, author.
ISBN:
9781138654778

9781315623030
Yazar Ek Girişi:
Fiziksel Tanımlama:
xiii, 208 pages ; 24 cm
İçerik:
Introduction -- Theoretical foundations -- Substance and purposes of economic activity -- Money and credit -- Debts and balance sheets -- The creation of bank deposits (deposits) -- The creation of central bank deposits -- The instruments of a central bank (monetary policy) -- The creation of sovereign securities (fiscal policy) -- The sustainability of the financial system -- Inflation and deflation -- Analysis -- A macroeconomic model -- Europe before the euro -- The situation with the euro -- Reform -- How do we restore demand? -- The future : with or without the euro? -- Conclusion -- Further readings -- Index.
Özet:
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.
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Demirbaş
Yer Numarası
Durumu / Lokasyon / İade Tarihi
Arıyor...
Kitap EKOBKN0003619 339.53092 EHN 2017
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