Başlık:
Inflation theory in economics : welfare, velocity, growth and business cycles
Yazar:
Gillman, Max., author
ISBN:
9780415477680
9780203880180
9780415864817
Yazar Ek Girişi:
Fiziksel Tanımlama:
xvi, 401 pages. : illustrations. ; 24 cm.
Seri:
Routledge international studies in money and banking ; 53
Seri Başlığı:
Routledge international studies in money and banking ; 53
İçerik:
1. Overview -- Part I: Inflation and Welfare -- 2. The Welfare Costs of Inflation in a Cash in Advance Model with Costly Credit -- 3. A Comparison of Partial and General Equilibrium Estimates of the Welfare Cost of Inflation -- 4. The Optimality of a Zero Inflation Rate: Australia -- 5. On the Optimality of Restricting Credit: Inflation-Avoidance and Productivity -- 6. Ramsey-Friedman Optimality within a Banking Time Economy Part II: Money Demand and Velocity -- 7. The Demand for Bank Reserves and Other Monetary Aggregates -- 8. Money Velocity with Costly Credit -- 9. Money Demand in General Equilibrium Endogenous Growth: Estimating the Role of a Variable Interest Elasticity -- 10. Money Demand in an EU Accession Country: A VECM Study of Croatia -- Part III: Inflation and Growth -- 11. Inflation and Balanced-Path Growth with Alternative Payment Mechanisms -- 12. Contrasting Models of the Effect of Inflation on Growth -- 13. A Revised Tobin Effect from Inflation: Relative Input Price and Capital Ratio Realignments, US and UK, 1959-1999 -- 14. Inflation and Growth: Explaining the Negative Effect -- 15. Granger Causality of the Inflation-Growth Mirror in Accession Countries Part IV: Monetary Business Cycles -- 16. On Keynes's Theory of the Aggregate Price Level in the Treatise: Any Help for Modern Aggregate Analysis? -- 17. Credit Shocks in the Financial Deregulatory Era: Not the Usual Suspects -- 18. A Comparison of Exchange Economies within a Monetary Business Cycle -- 19. Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks -- 20. Epilogue: The Perspective Going Forward.
Özet:
These essays bring together a progression in monetary theory. The major theme that runs through all of the chapters is that in order to do monetary economics well in general equilibrium, it helps to have a good money demand underlying the theory. A proper underlying money demand sets up arguably the best foundation from which to make extensions of monetary economics from the basic model. At the same time that money demand is modelled, this also “endogenizes” the velocity of money. This has been a challenge in the literature that these essays solve and then use to extend basic neoclassical growth and business cycle theory. Solving this problem, in a way that is a natural, direct, and “micro-founded” extension of the standard monetary theory is the first major contribution of the collection. The second major contribution is the extension of the neoclassical monetary models, using this solution, to reinvigorate classic issues of monetary economics and take them to the frontier.
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Library | Materyal Türü | Demirbaş | Yer Numarası | Durumu / Lokasyon / İade Tarihi |
|---|---|---|---|---|
Arıyor... | Kitap | EKOBKN0005836 | 332.4101 GIL 2013 | Arıyor... |