Download or read book Three Essays in Monetary Theory written by Ludwig Van den Hauwe and published by BoD – Books on Demand. This book was released on 2009 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent events in international financial markets have revived the scientific interest in conceivable institutional alternatives to prevailing monetary arrangements. In the essays reprinted in this book, the author critically examines some of the more influential arguments which have been made in favour of decentralization in banking.
Download or read book The Theory of Money and Financial Institutions written by Martin Shubik and published by MIT Press. This book was released on 1999 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Download or read book Three Essays on Monetary Policy written by Kyuil Chung and published by . This book was released on 2005 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on the Great Depression written by Ben S. Bernanke and published by Princeton University Press. This book was released on 2009-01-10 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effects As chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930s—work for which he was later awarded the Nobel Prize. This influential work is collected in Essays on the Great Depression, an important account of the origins of the Depression and the economic lessons it teaches.
Download or read book Three Essays on Monetary Economics written by Shiu-Sheng Chen and published by . This book was released on 2004 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Policies for Prosperity written by James Tobin and published by MIT Press. This book was released on 1989 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: In these timely essays, Nobel prize�winning economist James Tobin shows how Keynesian economics offers corrective treatment for the economic ailments we have faced under the Ford, Carter, and Reagan administrations.Essays in the first part of the book focus on theory and policy in Keynesian economics, particularly on the modern anti-Keynesian movements of the 1970s and 1980s. Tobin's writings on the events, controversies, doctrines, and policies of the Reagan era make up the book's second section, Essays in part three continue to discuss the Reagan revolution, focusing on fiscal policies and presenting some general macroeconomic principles that can be invoked to remedy the situation; those in part four are concerned more specifically with the conduct of monetary policy. A fifth section addresses inflation stagflation, and unemployment, recommending income policies that Tobin believes must become a "permanent tool of macroeconomic policy." The book concludes with several essays on various aspects of political economy, including a timely reminder that economic policies should serve ethical values.James Tobin, who received the Nobel prize in economics in 1981, is Sterling Professor of Economics at Yale.
Download or read book Three Essays on Marx s Value Theory written by Samir Amin and published by NYU Press. This book was released on 2013-10 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this slim, insightful volume, noted economist Samir Amin returns to the core of Marxian economic thought: Marx’s theory of value. He begins with the same question that Marx, along with the classical economists, once pondered: how can every commodity, including labor power, sell at its value on the market and still produce a profit for owners of capital? While bourgeois economists attempted to answer this question according to the categories of capitalist society itself, Marx sought to peer through the surface phenomena of market transactions and develop his theory by examining the actual social relations they obscured. The debate over Marx’s conclusions continues to this day. Amin defends Marx’s theory of value against its critics and also tackles some of its trickier aspects. He examines the relationship between Marx’s abstract concepts—such as “socially necessary labor time”—and how they are manifested in the capitalist marketplace as prices, wages, rents, and so on. He also explains how variations in price are affected by the development of “monopoly- capitalism,” the abandonment of the gold standard, and the deepening of capitalism as a global system. Amin extends Marx’s theory and applies it to capitalism’s current trajectory in a way that is unencumbered by the weight of orthodoxy and unafraid of its own radical conclusions.
Download or read book Three Essays on Financial Markets and Monetary Policy written by Conglin Xu and published by . This book was released on 2011 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on Monetary Control written by Michael G. Hadjimichalakis and published by . This book was released on 1981 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on the Monetary Policy of Indonesia written by Fahlino Fauzi Sjuib and published by . This book was released on 2003 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on the Behavior of Monetary Policy written by Michael T. Owyang and published by . This book was released on 2000 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on the Interaction of Monetary Policy and Long term Interest Rates written by Yuan Xiao and published by . This book was released on 2000 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy Rules written by John B. Taylor and published by University of Chicago Press. This book was released on 2007-12-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange. Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, Monetary Policy Rules is essential reading for economic analysts and policymakers alike.
Download or read book Three Essays in International Finance written by Byong-Ju Lee and published by Stanford University. This book was released on 2011 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays on international finance. The first essay is "Exchange rates and Fundamentals". A new open interest rate parity condition that takes account of economic fundamentals is developed from stochastic discount factors (SDFs) of two countries. Through this parity condition, business cycles or fundamentals are linked to exchange rates. Key empirical findings from this parity condition are as follows. First, this model beats the random walk hypothesis: economic fundamentals explain exchange rate movements for high interest rate currencies. Exchange rates of low interest rate currencies act like a random walk because they are less correlated with fundamentals owing to their low risk. For example, U.S. business cycles explain the direction of changes in exchange rates against the dollar. The same thing is true for Japan. Second, this model resolves the forward premium puzzle: the forward premium puzzle is not a general characteristic as regarded in previous studies. It happens when the risk awareness of investors is low, during economic expansions and for low risk currencies. The second essay is "Carry Trade and Global Financial Instability". Carry trade, an opportunistic investment strategy that takes advantage of interest rate differential across countries, is identified the cause of the large-scale depreciations of peripheral currencies in the later half of 2008. A simultaneous equations model, which is derived from a conceptual partial equilibrium model for a local foreign exchange market, is estimated from a cross-sectional sample. The results suggest that the larger appreciation of the yen than the dollar was brought about by a lack of the local supply of the yen rather than a more severe crunch of yen credits. The third essay is "The Economic Origin of Letters of Credit". This essay discusses the economic origin of letters of credit, an instrument widely used in international trade. A game theoretical analysis shows that letters of credit improve efficiency in trade settlements, increasing returns in trade. A few notable facts on letters of credit are discussed. First, the new institution is adopted by merchant banks to maximize their profits and in the process, an improvement in efficiency of international transactions is obtained. Second, the organization established by the legacy institution, bills of exchange, played a critical role in adopting the new institution. Third, the legal enforcement is not essential in this economic institution. Finally, two drivers are identified that improve efficiency of transactions: concentration and projection.
Download or read book The New International Monetary System written by Charles Wyplosz and published by Routledge. This book was released on 2010-02-25 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New International Monetary System brings together twelve original contributions by leading scholars and practitioners to a conference convened in May 2008 on the occasion of the retirement of Alexander Swoboda. The contributions are arranged in three main parts. Part I deals with the international financial architecture, Part II examines the ever-controversial role of exchange rate regimes and Part III takes stock of the conduct of monetary policy and the challenges posed by the inflation-targeting strategy. The chapters provide considered assessments of virtually all the hotly debated issues that concern monetary policies seen from an international perspective. Edited by and with an introduction from Charles Wyplosz, the collection includes contributions from some of the key international figures in the field of monetary policy, central banking and exchange rate regimes to discuss contemporary international monetary issues. Contributors include Michael Bordo, Barry Eichengreen, Ronald McKinnon and Charles Goodhart. The volume also contains tributes from Paul Volcker and Jean-Pierre Roth.
Download or read book Three Essays on Business Cycle and Monetary Policy written by Yongjae Choi and published by . This book was released on 2006 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on Marx s Value Theory written by Samir Amin and published by NYU Press. This book was released on 2013-10-01 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this slim, insightful volume, noted economist Samir Amin returns to the core of Marxian economic thought: Marx’s theory of value. He begins with the same question that Marx, along with the classical economists, once pondered: how can every commodity, including labor power, sell at its value on the market and still produce a profit for owners of capital? While bourgeois economists attempted to answer this question according to the categories of capitalist society itself, Marx sought to peer through the surface phenomena of market transactions and develop his theory by examining the actual social relations they obscured. The debate over Marx’s conclusions continues to this day. Amin defends Marx’s theory of value against its critics and also tackles some of its trickier aspects. He examines the relationship between Marx’s abstract concepts—such as “socially necessary labor time”—and how they are manifested in the capitalist marketplace as prices, wages, rents, and so on. He also explains how variations in price are affected by the development of “monopoly- capitalism,” the abandonment of the gold standard, and the deepening of capitalism as a global system. Amin extends Marx’s theory and applies it to capitalism’s current trajectory in a way that is unencumbered by the weight of orthodoxy and unafraid of its own radical conclusions.
