Money, Inflation and Business Cycles
Title | Money, Inflation and Business Cycles PDF eBook |
Author | Arkadiusz Sieroń |
Publisher | Routledge |
Pages | 162 |
Release | 2019-02-04 |
Genre | Business & Economics |
ISBN | 0429657285 |
Who would disagree that money matters? Economists have yet to sufficiently explore issues related to monetary inflation in relation to the Cantillon effect, i.e. distribution and price effects resulting from uneven changes in the money supply and their impact on the economy. This book fills this important gap in the existing literature. The author classifies the various channels through which new money can be injected into the economy and demonstrates that it is not only the increase in money supply that is important, but also the way in which it occurs. Since the increase in money supply does not affect the cash balance of all economic entities in the same proportion and at the same time – new money is introduced into the economy through specific channels – a distribution of income and changes in the structure of relative prices and production occur. The study of money supply growth, carried out in the spirit of Richard Cantillon, offers an important analytical framework that facilitates the development of a number of sub-disciplines within economics and provides a better understanding of many economic processes. It significantly explores the theory of money and inflation, the business cycle and price bubbles, but also the theory of banking and central banking, income distribution, income and wealth inequalities, and the theory of public choice. This book is therefore an important voice in the fundamental debate on the role of monetary factors in the economy, as well as on the effects and legitimacy of a loose monetary policy. In 2017, the doctoral dissertation on which the book is based was awarded the Polish Prime Minister’s prize. In these times of non-standard monetary policy and rising income inequalities in OECD countries, the focus on the distribution effect of monetary inflation makes this a must read for researchers and policy-makers and for anyone working in monetary economics. This title was translated from Polish by Martin Turnau.
Monetary Policy, Inflation, and the Business Cycle
Title | Monetary Policy, Inflation, and the Business Cycle PDF eBook |
Author | Jordi Galí |
Publisher | Princeton University Press |
Pages | 295 |
Release | 2015-06-09 |
Genre | Business & Economics |
ISBN | 1400866278 |
The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts
Money, Bank Credit, and Economic Cycles
Title | Money, Bank Credit, and Economic Cycles PDF eBook |
Author | Jesús Huerta de Soto |
Publisher | Ludwig von Mises Institute |
Pages | 938 |
Release | 2006 |
Genre | Banks and banking |
ISBN | 1610163885 |
Political Business Cycles
Title | Political Business Cycles PDF eBook |
Author | Thomas D. Willett |
Publisher | Duke University Press |
Pages | 554 |
Release | 1988 |
Genre | Business & Economics |
ISBN | 9780822308423 |
"A Pacific Research Institute for Public Policy book." Includes bibliographies and index.
Regular Cycles of Money, Inflation, Regulation, and Depressions
Title | Regular Cycles of Money, Inflation, Regulation, and Depressions PDF eBook |
Author | Raveendra N. Batra |
Publisher | |
Pages | 216 |
Release | 1985 |
Genre | Business & Economics |
ISBN |
The Great Inflation
Title | The Great Inflation PDF eBook |
Author | Michael D. Bordo |
Publisher | University of Chicago Press |
Pages | 545 |
Release | 2013-06-28 |
Genre | Business & Economics |
ISBN | 0226066959 |
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Inflation Theory in Economics
Title | Inflation Theory in Economics PDF eBook |
Author | Max Gillman |
Publisher | Routledge |
Pages | 420 |
Release | 2009-03-23 |
Genre | Business & Economics |
ISBN | 1134021739 |
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.