Download or read book Money Demand in a Banking Time Economy written by Max Gillman and published by . This book was released on 2003 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Demand for Money written by Lars Jonung and published by Routledge. This book was released on 2018-02-06 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period. Why the magnitude of that ratio has changed over time is the subject of Michael D. Bordo and Lars Jonung's classic study, originally published as The Long-Run Behavior of the Velocity of Circulation. Supported by statistical data, econometric estimation techniques, and meticulous historical analysis, this work describes, in an international setting, how slow-moving economic, social, and political forces interact with the decisions households and firms make about how much money to hold. Annual time series of velocity for several countries from the late nineteenth century to the late twentieth century display a U-shaped pattern. Existing theories can explain each section of the velocity curve-the falling, flat, and rising parts-but the overall pattern is not consistent with any one theory. Here the authors put forth a comprehensive explanation for this behavior over time. Their theory is largely an extension of the approach of Knut Wicksell, the Swedish economist who stressed the role of substitution between monetary assets. This approach, which emphasizes institutional variables, is incorporated into the arguments for the traditional long-run money demand (velocity) function. Four types of empirical evidence strongly support the authors' theory: econometric studies of the long-run velocity function for several countries; a cross section study of approximately eighty countries in the postwar period; a case study of the Swedish monetization process in the fifty years before World War I; and an examination of the time series properties of velocity. Demand for Money suggests that institutional factors, as opposed to real income, play a greater role in velocity than previously thought. And these institutional factors have a major impact on monetary policy. This is a book that will prove of great value to economists, monetary strategists, and policymakers.

Download or read book The Demand for Money in Developing Countries written by and published by World Bank Publications. This book was released on 1991 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Money Demand and Monetary Policy written by Douglas Fisher and published by University of Michigan Press. This book was released on 1989 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the literature dealing with the demand for money

Download or read book The Demand for Money written by Apostolos Serletis and published by Springer Science & Business Media. This book was released on 2007-06-08 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the most comprehensive textbook available on the money demand function and its role in modern macroeconomics. The book takes a microeconomic- and aggregation-theoretic approach to the topic and presents empirical evidence using state-of-the-art econometric methodology, while recognizing the existence of unsolved problems and the need for further developments. The new edition is fully revised and includes new chapters.

Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economics of Money Banking and Financial Markets written by Frederic S. Mishkin and published by Pearson College Division. This book was released on 2009-07 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Money, Banking, and Financial Marketsset the standard for money and banking courses when it published in its first edition, and it continues to be the worldwide market leader. The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking. Having just served as Governor of the Federal Reserve, only Mishkin has the unique insider's perspective needed to present the current state of money and banking and explain the latest debates and issues for today’s readers. For professors who teach with less emphasis on monetary theory and prefer to focus more time on financial institutions, theBusiness School Editionis the ideal alternative. Introduction:Why Study Money, Banking, and Financial Markets?; An Overview of the Financial System; What Is Money?Financial Markets: Understanding Interest Rates; The Behavior of Interest Rates; The Risk and Term Structure of Interest Rates; The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis.Financial Institutions: An Economic Analysis of Financial Structure; Financial Crises and the Subprime Debacle; Banking and the Management of Financial Institutions; Economic Analysis of Financial Regulation; Banking Industry: Structure and Competition; Nonbank Finance; Financial Derivatives; Conflicts of Interest in the Financial Industry.Central Banking and the Conduct of Monetary Policy: Structure of Central Banks and the Federal Reserve System; The Money Supply Process; Tools of Monetary Policy; What Should Central Banks Do? Monetary Policy Goals, Strategy, and Tactics.International Finance and Monetary Policy:The Foreign Exchange Market; The International Financial System.Monetary Policy: The Demand for Money; Aggregate Demand and Supply Analysis; Transmission Mechanisms of Monetary Policy: The Evidence; Money and Inflation. For all readers interested in money, banking, and financial markets.

Download or read book Money Demand in Europe written by Christian Müller and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first of January 1999 marked the beginning of a macroeconomic experi ment without precedent in modern history. For the first time eleven European countries agreed to abolish their local currencies in favour of a single one, the Euro. Not surprisingly, the necessary preparatory process has been accompa nied by an intensive discussion about the best way to manage the new Euro currency properly. To spur on that discourse was the principal motivation for this thesis. The introductory chapter attempts to bridge economic and econometric views on money demand analysis. It should help to motivate estimation proce dures and to standardize interpretation techniques, hopefully initiating further discussion in that direction. It intends to make the following chapters more accessible. In this thesis I approach the general subject in two principle ways. In chapter 3 I consider technical issues dealing with time series with shifts in the mean. Two years ago, Helmut Liitkepohl and Pentti Saikkonen asked me to join in on a related project which became the cornerstone of this chapter. I have very much appreciated the highly instructive collaboration with both these scholars.

Download or read book Money Theory and Practice written by Jin Cao and published by Springer Nature. This book was released on 2019-12-07 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Monetary and Financial Economics written by James L. Pierce and published by . This book was released on 1984-05-28 with total page 792 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive textbook with rigorous and complete coverage of all aspects of financial institutions, monetary theory, and monetary policy, written by one of the major architects of current monetary policy and regulatory reform. Designed for a course in money and banking taken by undergraduate economics and business majors and courses in monetary theory. Includes many chapters on topics not found in other texts such, as portfolio management, thrift institutions, and a framework of the supply side of IS/LM.

Download or read book Money and Banking written by Riccardo Realfonzo and published by Edward Elgar Publishing. This book was released on 1998 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an original interpretation of the debate on banking and the nature of money in Keynes' time from a post-Keynesian point of view. Realfonzo (economics, U. of Naples) traces the pre- history of monetary circuit theory and its challenge to mainstream analysis in the first four decades of the century, contrasting the neoclassical approach with the monetary theory of production. He examines the contributions of both well-known and relatively neglected authors to the debate on the nature of money and function of the banks. Each chapter concludes with extensive notes. Annotation copyrighted by Book News, Inc., Portland, OR

Download or read book The Conundrum Of Assets Money written by Sharif Rahman and published by Virtus Books. This book was released on 2011-11-01 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: 259 Trillion Vs 5 Trillion book series describes the workings of our economy, in a way that will excite anyone, by incorporating hundreds of illustrations and beautiful charts, coupled with remarkable descriptions and explanations, yet everything was designed to be as simple as possible. The use of difficult terms and lingo of economics were avoided by the authors to present their thought provoking explanations in simple, plain English. The authors are not economists by education, they are experienced engineers, hell bound to dissect the economy in interesting ways using their methodical approach routinely used by engineers in solving everyday problems. Their method is guaranteed to amaze the reader because each time, they would start at the root of the problem and take the readers to the right answer. The use of paper money and other types of money is discussed at length in this series and finally the answer of whether money is printed out of thin air will be revealed. In fact, the authors listed more than 20 common fallacies and answered all of them in the book series including hyperbolic or exponential functions, more and more debt, the Federal Reserve and central banks, the use of interest on loans to suck money out of the economy, the bank's conspiracy to own everything and many others. This extraordinary book series was painstakingly written with a rarely seen before method of graphics and downloadable video combinations to create the most comprehensive explanation of economic fundamentals, and certainly will be some the most interesting economic books you will ever read. The burning questions you had kept inside for so long will be answered once and for all! The first book describes the common misconception between money and assets. The concept of asset doubling when gold is used as money is presented in an exciting way. The failure of many people to understand this important but never presented before concept, ultimately hastened the demise of the gold standard. If money is created from another asset class, for example rare metals, the amount of assets in the economy will need to double. This doubling will occur, without any corresponding increase in the real, actual wealth in the economy. The origin of money is explained carefully with illustrations, and how money is used in our everyday lives, from the original issuer, right to the end user. The first book of the series listed more than twenty conspiratorial claims, which will be answered throughout the series. In the first book, the authors took on several of these claims such as whether money should be made from valuable item (such as gold) or whether the imposition of interest would suck money out of the system. The book also explains why money must come from debt and the misconception on money's intrinsic value. This first book of the series is designed to be simple, unlike the 2nd book which is heavy on fractional reserve banking and how it operates. Book 1 of the series is fun to read and the thinnest in the series, yet without understanding the differences between money and asset, a reader will have difficulties in understanding fractional reserve banking and many other vital topics throughout the series. The authors created movie presentations for most of the concepts they presented in their book series, and they give them all away in their website for free download. The movie presentations made to accompany the book was one of their interesting ideas to explain the economy in a simple way. You can take your time to understand the workings of the economy and you can repeat them easily, show and discuss with your friends and families. It is time for America to awake from its slumber, from a misdirected, self-fulfilling prophesies of doom, gloom and failures. The future is still great for America, yet the country is fast sliding into the abyss, unless the correct path is taken.

Download or read book The Demand for Money written by David M. Jones and published by . This book was released on 1966 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Survey of Literature on Demand for Money written by Mr.Subramanian S. Sriram and published by International Monetary Fund. This book was released on 1999-05-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: A stable money demand forms the cornerstone in formulating and conducting monetary policy. Consequently, numerous theoretical and empirical studies have been conducted in both industrial and developing countries to evaluate the determinants and the stability of the money demand function. This paper briefly reviews the theoretical work, tracing the contributions of several researchers beginning from the classical economists, and explains relevant empirical issues in modeling and estimating money demand functions. Notably, it summarizes the salient features of a number of recent studies that applied cointegration/error-correction models in the 1990s, and it features a bibliography to aid in research on demand for money.

Download or read book Money Income and Time written by Alvaro Cencini and published by Bloomsbury Publishing. This book was released on 2013-11-07 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Money, Income and Time, Alvaro Cencini examines how money has been alternatively defined as a commodity and as the general equivalent of all commodities to be, subsequently, identified with the concept of numéraire, and, finally, reduced to the actual notion of credit. To better clarify the terms of the problem, the writer analyses it through the main theories of money which have been developed since the works of the classical economist. The book does not take the form of a history of economic doctrines, however, since its aim is at the same time less ambitious and more precise, that is defining the true nature of money through a critical and synthetic appraisal of its various analyses.

Download or read book Economic Theory of Bank Credit written by L. Albert Hahn and published by OUP Oxford. This book was released on 2015-10-08 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: L. Albert Hahn published the first edition of the Economic Theory of Bank Credit in 1920 and a radically revised third edition in 1930. Economic Theory of Bank Credit is a clear exposition of a theory of credit and stands in the tradition of Harley Withers, Henry Macleod, and Knut Wicksell. A theory of credit recognizes that banks are not only intermediaries of savings but in fact create money themselves. This idea is paired with a detailed account of the technical processes of the banking sector. In Part Two, Hahn provides an economic account of the effects of credit creation on the economy: banks vary their credit creation activity for various reasons and cause fluctuations in overall economic activity. Hahn therefore develops a monetary theory of the business cycle in the spirit of Schumpeter. The first and third editions draw different conclusions about central bank policy. The first edition is optimistic that an ever-lasting boom could be achieved, whilst the third edition sees the core function of central bank policy as smoothing economic fluctuations. This edition, translated into English for the first time, enables the reader to revisit this classic contribution to monetary theory. It features a complete translation of the first edition, key elements of the third edition, and a new introduction by Professor Harald Hagemann.

Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.