Download or read book Money Coordination and Prices written by S. G. van der Lecq and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study presents a view of the economy, and how to model it, in which the current "ideal" of isolated agents coordinated by clearing markets is replaced by an open system in which money, trust, conventions and institutions all play their part in the system's coordination.
Download or read book Money Coordination and Prices written by S. G. van der Lecq and published by . This book was released on 1998 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money Coordination and Prices written by Sofia van der Lecq and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Coordination of the General Theories of Money and Price written by P. N. Rosenstein-Rodan and published by . This book was released on 1936 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money Coordination and Prices written by Sofia Gepke Lecq and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book What Money Can t Buy written by Michael J. Sandel and published by Farrar, Straus and Giroux. This book was released on 2012-04-24 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society—and how can we protect the moral and civic goods that markets don't honor and that money can't buy?
Download or read book Asking About Prices written by Alan Blinder and published by Russell Sage Foundation. This book was released on 1998-01-08 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.
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.
Download or read book Sticky Prices Coordination and Enforcement written by John Christopher Driscoll and published by . This book was released on 2003 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money Illusions and Coordination Failure written by Ernst Fehr and published by . This book was released on 2004 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money Illusion and Coordination Failure written by Ernst Fehr and published by . This book was released on 2004 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Puzzles of Inflation Money and Debt Applying the Fiscal Theory of the Price Level written by Thomas S. Coleman and published by CFA Institute Research Foundation. This book was released on 2021-11-29 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiscal theory of the price level (FTPL) provides an update and revision of monetary theory to address puzzles raised by the failure of both the new Keynesian theory (commonly used by central bankers) and neoclassical monetarism (in particular, the quantity theory of money as interpreted by Milton Friedman and Anna Schwartz)—puzzles such as the low inflation that followed the sustained expansionary monetary policies post-2008. We aim to summarize and explain the FTPL as developed by Eric Leeper, John Cochrane, and others. The FTPL builds on neoclassical monetarism by observing that government liabilities—bonds, notes, bills, and currency—derive their value from the assets that back these liabilities. These assets are chiefly the present value of future tax revenues, minus government spending other than that part of spending used to service the liabilities themselves. This net “profit” of the government is called the primary surplus. This primary surplus can be expressed in real terms (a quantity of goods and services, rather than a money amount). The total real value of the bonds is thus the total real value of the assets backing the bonds: the present value of all future real primary surpluses (which we shorten to PVFS, present value of future surpluses). In a very important sense, the FTPL harkens back to commodity-based theories of money, except now the “commodity” is the real value of future surpluses earned by the government. We can then solve for the price level. It is simply the nominal value of the bonds (the face value or number of bonds issued) divided by the real value of the bonds (the PVFS). If the nominal value of the bonds is held constant and the underlying asset (PVFS) becomes less valuable, prices go up. If the PVFS becomes more valuable, prices go down. We thus calculate the value of “money” (including government liabilities of all maturities) the way one would calculate the value of any security: through discounted cash flow analysis. Note that this approach is consistent with the QTM because, if money is defined in the traditional way as currency and demand deposits and we now hold the PVFS (the backing of the money) constant, then the price level is proportional to the amount of money in circulation. The FTPL is a more complete theory, however, because (1) it incorporates all government liabilities, not traditional money alone, and (2) because it is forward-looking and dynamic rather than considering only conditions in the present.
Download or read book Money and Markets written by Robert W. Clower and published by CUP Archive. This book was released on 1986-10-31 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Clower's influential essays discuss monetary economics and monetary behaviour.
Download or read book Money Interest and Prices written by Don Patinkin and published by . This book was released on 1962 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money and the Nation State written by Kevin Dowd and published by Routledge. This book was released on 2020-04-03 with total page 651 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary and banking problems in the world today arise not so much from the failure of specific policies as from more deep-seated problems in institutional structures. Individuals clearly make mistakes and legislatures make bad laws, but the institutions from which decisions and laws emanate determine the effectiveness of social operations and the value of social decisions. Unless we change the present institutional structure, we are not likely to get stable solutions to today's most serious problems—ongoing and often erratic inflation and serious banking instability. Money and the Nation State examines the history of modern monetary and banking arrangements, some of the major monetary and banking problems, and options for meaningful reform. The common theme of all the essays is that current arrangements result less from the accomplishments of great men than man-made institutions that society has inherited—central banks and "the legal and regulatory frameworks that accompany them. The contributors emphasize the impact of political interference on the workings of monetary and financial institutions. Not surprisingly, they find many problems arise because politically generated structures are inappropriate to the real needs of the individuals and groups they are meant to serve. Money and the Nation State provides an essential framework for those willing to return to first principles in thinking about the role of monetary institutions in economic life. Economists, financial theorists, and the interested citizen will find it stimulating reading.
Download or read book Exchange Rates and Policy Coordination written by Peter B. Kenen and published by Manchester University Press. This book was released on 1989 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Future of Money written by Eswar S. Prasad and published by Harvard University Press. This book was released on 2021-09-28 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.
