Monetary Theory And Policy From Hume And Smith To Wicksell
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Monetary Theory And Policy From Hume And Smith To Wicksell
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Author : Arie Arnon
language : en
Publisher: Cambridge University Press
Release Date : 2010-11-22
Monetary Theory And Policy From Hume And Smith To Wicksell written by Arie Arnon and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-22 with Business & Economics categories.
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.
Debates In Macroeconomics From The Great Depression To The Long Recession
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Author : Arie Arnon
language : en
Publisher: Springer Nature
Release Date : 2022-05-06
Debates In Macroeconomics From The Great Depression To The Long Recession written by Arie Arnon and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-05-06 with Business & Economics categories.
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
Wicksell S Monetary Theory
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Author :
language : en
Publisher: Springer
Release Date : 1991-06-18
Wicksell S Monetary Theory written by and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-06-18 with Business & Economics categories.
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.
Wicksell S Monetary Theory
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Author : Guglielmo Chiodi
language : en
Publisher:
Release Date : 1991-01-01
Wicksell S Monetary Theory written by Guglielmo Chiodi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-01-01 with Economics categories.
Monetary Theory And Fiscal Policy
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Author : Alvin Harvey Hansen
language : en
Publisher: Pickle Partners Publishing
Release Date : 2018-12-02
Monetary Theory And Fiscal Policy written by Alvin Harvey Hansen and has been published by Pickle Partners Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-02 with Business & Economics categories.
IN TRADITIONAL economics the theory of money and the theory of output have been treated separately with little or no tendency toward integration. First Wicksell and then Keynes gave impetus to the movement to combine the theory of money with that of output as a whole. Drawing on classical economics and the modern aggregate analysis of Keynes, Professor Hansen in this volume succeeds in writing a book which, unlike the classical studies, shows the importance of money in the theory of output as a whole; and which, unlike numerous modern writings (e.g., of Hawtrey, Douglas, Hayek), avoids overemphasizing the importance of money. Here is a book that shows what monetary policy can and cannot achieve and why it has often failed in the past; the necessary supplementary role of monetary policy as an aid to fiscal policy; and the manner of integrating monetary and fiscal policy, in periods of both depression and inflation, as prerequisites for assuring a stable economy. Professor Hansen has drawn on his rich experience over thirty-five years in the study of cycles, fiscal policy, and international economics, and on his many years as an economic practitioner to write a book that makes use of the riches of classical economics, as well as neoclassical and Keynesian economics. The book should, for many years to come, be the standard work on monetary theory and fiscal policy as determinants of output. The reader will find here not only the modern theory of money and fiscal policy, but also rich surveys covering the last 150 years, reinterpreted with the tools of modern economics. He will find also suggestions, based on theory and history, for a policy in the years to come that will yield the high levels of income and stability without which the survival of democratic institutions is most unlikely.
Studies In The History Of Monetary Theory
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Author : David Glasner
language : en
Publisher: Springer Nature
Release Date : 2021-11-01
Studies In The History Of Monetary Theory written by David Glasner and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-01 with Business & Economics categories.
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.
Perspectives On Keynesian Economics
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Author : Arie Arnon
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-11-29
Perspectives On Keynesian Economics written by Arie Arnon and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-29 with Business & Economics categories.
This book combines historical and policy-oriented perspectives on the relevance of the Keynesian approach for economic theory, policy, and crisis analysis. The first part focuses on historical, theoretical, and methodological issues, and puts them in context with current developments. The second part focuses on the application of the Keynesian approach to modeling the economy, policy-making, and analyzing the ongoing crisis of the early 21st century. Bringing together contributions by leading macroeconomists such as Laidler, Cukierman, Colander and Boyer, and leading historians of economics such as Hollander, Boianovsky, Marcuzzo, Dimand, Witztum, Young, deVroey and Arnon, the book offers a comprehensive overview of Keynesian economics today. One of the book’s most essential features are the commentaries on the papers, which promote a cross-fertilization between macroeconomists and historians of economics, providing, in conjunction with the papers themselves, a balanced outlook on the current relevance of Keynesian economics.
Money And Markets
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Author : Robert W. Clower
language : en
Publisher: CUP Archive
Release Date : 1986-10-31
Money And Markets written by Robert W. Clower and has been published by CUP Archive this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986-10-31 with Business & Economics categories.
Robert Clower's influential essays discuss monetary economics and monetary behaviour.
The Monetary Theory Of Production
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Author : Augusto Graziani
language : en
Publisher: Cambridge University Press
Release Date : 2003-09-04
The Monetary Theory Of Production written by Augusto Graziani and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-04 with Business & Economics categories.
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.
Monetary Equilibrium
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Author : Gunnar Myrdal
language : en
Publisher: London : W. Hodge
Release Date : 1939
Monetary Equilibrium written by Gunnar Myrdal and has been published by London : W. Hodge this book supported file pdf, txt, epub, kindle and other format this book has been release on 1939 with Money categories.