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Author: Franz Gehrels Publisher: Springer Science & Business Media ISBN: 3642956599 Category : Business & Economics Languages : en Pages : 194
Book Description
The large aggregates in the economy - consumption, investment, production of the domestic and the international sectors, international capital flows, financial accumulation and indebtedness - are analysed in this book as problems in time-optimisation for enterprises and households. The effects of fiscal and monetary policies along with exchange-rate variation are examined, and their simultaneous use for stabilizing demand are found to be necessary. All household decisions on consumptions, savings, and financial disposition are conditioned by uncertainty, and similarly for firms, who make more complex simultaneous decisions on production, real investment, financing, and market strategy. The marginal efficiency-of-investment function derived from these decisions is fundamentally different from the marginal productivity of capital in the neoclassical sense. An economy which grows through the accumulation of capital, increase in labor supply, and technological progress is the framework in which all of these variables move. This codetermines the allocation of factors between domestic and international production, and the development of foreign trade. The growth both of the public debt and of international investment are treated in depth.
Author: Franz Gehrels Publisher: Springer Science & Business Media ISBN: 3642956599 Category : Business & Economics Languages : en Pages : 194
Book Description
The large aggregates in the economy - consumption, investment, production of the domestic and the international sectors, international capital flows, financial accumulation and indebtedness - are analysed in this book as problems in time-optimisation for enterprises and households. The effects of fiscal and monetary policies along with exchange-rate variation are examined, and their simultaneous use for stabilizing demand are found to be necessary. All household decisions on consumptions, savings, and financial disposition are conditioned by uncertainty, and similarly for firms, who make more complex simultaneous decisions on production, real investment, financing, and market strategy. The marginal efficiency-of-investment function derived from these decisions is fundamentally different from the marginal productivity of capital in the neoclassical sense. An economy which grows through the accumulation of capital, increase in labor supply, and technological progress is the framework in which all of these variables move. This codetermines the allocation of factors between domestic and international production, and the development of foreign trade. The growth both of the public debt and of international investment are treated in depth.
Author: John Smithin Publisher: World Scientific Publishing Company ISBN: 9814525294 Category : Business & Economics Languages : en Pages : 341
Book Description
This book provides a comprehensive overview, in the form of eight long essays, of the evolution of monetary theory over the three-quarters of century, from the time of Keynes to the present day. The essays are originally based on lecture notes from a graduate course on Advanced Monetary Economics offered at York University, Toronto, written in the style of academic papers. The essays are mathematical in method — but also take a historical perspective, tracing the evolution of monetary thought through the Keynesian model, the monetarist model, new classical model, etc, up to and including the neo-Wickesellian models of the early 21st century. The book will be an essential resource for both graduate and advanced undergraduate students in economics, as well as for individual researchers seeking basic information on the theoretical background of contemporary debates.
Author: Vasco Cúrdia Publisher: ISBN: 9781109946628 Category : Languages : en Pages : 364
Book Description
The first essay proposes a model to investigate the effects of monetary policy in an emerging market economy that experiences a sudden stop of capital inflows. I show that the higher the elasticity of foreign demand, the lower the contraction in output - leading, at the extreme, to the possibility of an expansion. Interest rate rules reacting to inflation and output stabilize the output more than a fixed exchange rate regime. Low credibility and the risk of loose policy imply increased trade-offs, stronger contraction of the economy, and higher interest rates.
Author: Franz Gehrels
Author: Franz Gehrels
Author: Gianluca Damiano Carmelo Benigno
Author: John Smithin
Author: Yun-kwong Kwok
Author: Daniel Waldman
Author: Andrea Bubula
Author: Sang-Beom Kim
Author: Mian Zhu
Author: Vasco Cúrdia
Author: Thomas Alexander Lubik