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Author: Basil J. Moore Publisher: ISBN: 9780521350792 Category : Business & Economics Languages : en Pages : 420
Book Description
Challenging the validity of much of mainstream macroeconomics, Basil Moore argues that the money supply in modern economies is not under the control of central banks, but rather is determined by borrower demand for bank credit. He then explores the implications of this perception for conventional macroeconomic theory. Mainstream analysis takes the view that central banks have it in their power to initiate exogenous changes in the nominal supply of money. In contrast to this "verticalist" view, this book contends that the supply of credit money is endogenous, and responds to changes in the demand for bank credit. This new "horizontalist" view holds that cental banks have the ability to set the supply price of money through short term interest rates, but not the quantity of money. Concluding that a new macroeconomic paradigm must be developed, Moore attempts to initiate the larger task of theory reconstruction that lies ahead.
Author: Basil J. Moore Publisher: ISBN: 9780521350792 Category : Business & Economics Languages : en Pages : 420
Book Description
Challenging the validity of much of mainstream macroeconomics, Basil Moore argues that the money supply in modern economies is not under the control of central banks, but rather is determined by borrower demand for bank credit. He then explores the implications of this perception for conventional macroeconomic theory. Mainstream analysis takes the view that central banks have it in their power to initiate exogenous changes in the nominal supply of money. In contrast to this "verticalist" view, this book contends that the supply of credit money is endogenous, and responds to changes in the demand for bank credit. This new "horizontalist" view holds that cental banks have the ability to set the supply price of money through short term interest rates, but not the quantity of money. Concluding that a new macroeconomic paradigm must be developed, Moore attempts to initiate the larger task of theory reconstruction that lies ahead.
Author: B. Moore Publisher: Springer ISBN: 0230512135 Category : Business & Economics Languages : en Pages : 577
Book Description
This book makes the case that economies are complex systems and in response to this, develops a unique dynamic nonequilibrium process analysis of macroeconomics. It provides a brief introduction to complex systems, chaos theory and unit roots. The importance and implications of contingency for economic behaviour are developed.
Author: Louis-Philippe Rochon Publisher: Edward Elgar Publishing ISBN: 1782547444 Category : Business & Economics Languages : en Pages : 541
Book Description
The Encyclopedia of Central Banking, co-edited by Louis-Philippe Rochon and Sergio Rossi, contains some 250 entries written by over 200 economists on topics related to monetary macroeconomics, central bank theory and policy, and the history of monetary
Author: Marcos Cueto Publisher: Cambridge University Press ISBN: 1108483577 Category : History Languages : en Pages : 391
Book Description
A history of the World Health Organization, covering major achievements in its seventy years while also highlighting the organization's internal tensions. This account by three leading historians of medicine examines how well the organization has pursued its aim of everyone, everywhere attaining the highest possible level of health.
Author: G. Fontana Publisher: Springer ISBN: 023029166X Category : Business & Economics Languages : en Pages : 356
Book Description
This book aims to showcase and advance recent debates over the extent to which undergraduate macroeconomics teaching models adequately reflect the latest developments in the field. It contains 16 essays on topics including the 3-equation New Consensus model, extensions and alternatives to this model, and endogenous money and finance.
Author: L. Randall Wray Publisher: Springer ISBN: 1137539925 Category : Business & Economics Languages : en Pages : 322
Book Description
This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.
Author: Philip Arestis Publisher: Edward Elgar Publishing ISBN: 1847202802 Category : Business & Economics Languages : en Pages : 535
Book Description
Consists of over 30 major contributions that explore a range of work on money and finance. The contributions in this handbook cover the origins and nature of money, detailed analyses of endogenous money, surveys of empirical work on endogenous money and the nature of monetary policy when money is endogenous.
Author: John Smithin Publisher: Rowman & Littlefield ISBN: 1498542824 Category : Business & Economics Languages : en Pages : 258
Book Description
This book provides a comprehensive re-working of the basic principles of monetary macroeconomics in an alternative monetary model (AMM) of economic growth, the business cycle, inflation and income distribution. These principles differ considerably from those advanced in the standard macroeconomics literature and in textbooks. However, the latter have been demonstrably unsuccessful in the promotion of usable macroeconomic policy advice for the past several years, actually decades. A different approach is needed. In particular, the new approach takes seriously the vital role of credit creation and endogenous money in capitalism. It does not imagine that all of the difficult questions of economic policy-making may be resolved within a paradigm that conceptualizes economic activity as merely a question of barter exchange. The result is a blueprint for a set of growth-friendly macroeconomic policies which will promote full employment, financial stability and higher real wages – essentially for the benefit of the long-suffering middle and working classes rather for the chamber of commerce and financial interests.
Author: Ghislain Deleplace Publisher: Springer ISBN: 1349245259 Category : Business & Economics Languages : en Pages : 770
Book Description
In analyzing money, contemporary economics has focused its attention on money's function as a store of value, neglecting its role as medium of circulation. When circulation is put center stage, it becomes apparent that the supply of money does indeed adapt to the needs of trade - and does so in many different ways, often ways that are difficult for a central bank to control, because they reflect the responses of banks and other financial institutions to market incentives. But money's role in circulation must be coordinated with its store of value function, and both with finance. Failure here can lead to instability. The essays in this volume by internationally renowned economists cover these issues in original and contrasting analyses, presenting the American post-Keynesian perspective, on the one hand, and the point of view of the French Circulation School, on the other.
Author: Basil J. Moore
Author: Basil J. Moore
Author: B. Moore
Author: Louis-Philippe Rochon
Author: Thomas I. Palley
Author: Marcos Cueto
Author: G. Fontana
Author: L. Randall Wray
Author: Philip Arestis
Author: John Smithin
Author: Ghislain Deleplace