Monetary Economics: Theories, Evidence and PolicyMonetary Economics: Theories, Evidence and Policy, Second Edition provides basic introduction to various aspects of monetary economics. The first chapter tackles the functions, advantages, and definitions of money. Chapter 2 deals with the monetary transmission mechanism. Chapter 3 discusses the demand for money, while Chapter 4 talks about the financial intermediaries and the supply of money. The book also covers the classical system and the neutrality of money. The Keynesian system and monetarism are then tackled. The text reviews the empirical evidence relating to the role of money. Other related topics covered are inflation; the balance of payments and the foreign exchange rate; and monetary policy. The book also deals with the techniques of monetary control. The last chapter discusses the U.K. post-WW2 monetary policy. The book will be of great interest to students and professionals involved in the study of monetary economics. |
Contents
| 1 | |
| 22 | |
Chapter 3 The demand for money | 40 |
Chapter 4 Financial intermediaries and the supply of money | 80 |
Chapter 5 The classical system and the neutrality of money | 106 |
Chapter 6 The Keynesian system | 123 |
Chapter 7 Monetarism | 149 |
Chapter 8 A review of the empirical evidence relating to the role of money and the effectiveness of monetary policy | 171 |
Chapter 9 Inflation | 190 |
Chapter 10 The balance of payments and the foreign exchange rate | 219 |
targets indicators rules and discretion | 235 |
Chapter 12 Techniques of monetary control | 252 |
Chapter 13 Monetary policy in the UK since the Second World War | 268 |
| 286 | |
| 293 | |
Other editions - View all
Monetary Economics: Theories, Evidence, and Policy David G. Pierce,Peter J. Tysome Snippet view - 1985 |
Common terms and phrases
aggregate demand argued assets assumed balance of payments bank deposits Bank of England behaviour bonds borrowers building society capital cash balances changes consider costs debt demand for money determined domestic economic agents economy equation equilibrium example excess demand fall Figure financial intermediaries fixed exchange rates foreign exchange foreign exchange market Friedman full employment function increase inflationary influence interest rates investment Keynes Keynesian labour level of income liquidity trap LM curve loans long-run means of payment monetarist monetary approach monetary authorities monetary base monetary base control monetary policy money balances money market money stock money supply money wage NBFIs output Panel period Phillips curve portfolio adjustment price level private sector PSBR purchase rate of growth rate of inflation rate of interest rational expectations real wage reduce relationship result rise stability sterling supply of money target transactions balances transmission mechanism variables wealth effects