Home » Books » Business » Finance
Monetary Economics
http://www.fishpond.com.au/Books/Monetary-Economics-Wynne-AH-Godley-Marc-Lavoie/9780230500556?outprint=1&isbn=0230500552
An Integrated Approach to Credit, Money, Income, Production and Wealth
By
Wynne A.H. Godley, Marc Lavoie
RRP $223 $149 Save $74.00 (33%)
Free shipping Australia wide Ships from UK supplier | Rating: | | | Format: | Hardback, 530 pages | | Other Information: | illustrations | | Published In: | United Kingdom, 01 December 2006 |
This book challenges the mainstream paradigm, which is based on the inter-temporal optimisation of welfare by individual agents. It introduces a new methodology for studying how it is institutions which create flows of income, expenditure and production together with stocks of assets (including money) and liabilities, thereby determining how whole economies evolve through time. Starting with extremely simple Stock Flow Consistent (SFC) models, the text describes a succession of increasingly complex models. Solutions of these models are used to illustrate ways in which whole economies evolve when shocked in various ways. Readers will be able to download all the models and explore their properties for themselves. A major conclusion is that economies require management via fiscal and monetary policy if full employment without inflation is to be achieved. |
Table of ContentsIntroduction Balance Sheets, Transaction Matrices and The Monetary Circuit The Simplest Model with Government Money Government Money with Portfolio Choice Long-Term Bonds, Capital Gains and Liquidity Preference Introducing the Open Economy A Simple Model with Private Bank Money Time, Inventories, Profits and Pricing A Model with PrivateBank Money, Inventories and Inflation A Model with both Inside and Outside Money A Growth Model Prototype Open Economy with Flexible Prices and Exchange Rates General Conclusion About the AuthorWYNNE GODLEY was formerly Director of the Department of Applied Economics at the University of Cambridge, UK, from 1970 to 1994, and subsequently a Professor of Applied Economics. During this period, from 1987-1988, he was also a Visiting Professor at University of Aalborg, Denmark. Between 1994 and 2001, Professor Godley was a Distinguished Scholar at the Levy Economics Institute of Bard College, New York. Professor Godley joined CERF as a Visiting Research Associate in 2002. MARC LAVOIE is Professor in the Department of Economics at the University of Ottawa, Canada. He has been Visiti
| Publisher: | Palgrave Macmillan | | ISBN: | 0230500552 |
| EAN: | 9780230500556 | | Dimensions: | 22.25 x 14.73 x 3.4 centimeters (0.78 kg) |
| Age Range: |
15+ years |
|
Help
My Cart
Australian dollars.
