MONETARY ECONOMICS HANDA J Bankowa.pl

This textbook breaks new ground in developing an integrated and comprehensive overview of advanced monetary economics. It achieves this by integrating the presentation of monetary theory with its heritage, empirical formulations and their empirical tests. While many texts confine themselves to coverage of the demand and supply of money, or to macroeconomic and monetary policy, Monetary Economics brings together the core areas of monetary economics in a single source.

Key features include:

- cross-country comparison of central banking in the USA, UK and Canada as well as in developing countries,

- theories and empirical studies of money demand, including precautionary and buffer stock models and monetary aggregation,

- detailed comparison of Keynesian and modern classical macroeconomic theory and policy models,

- focus on the role of money and financial institutions and growth, including the contribution of endogenous growth theory to the understanding of financial institutions in the economy.

Pioneering in the comprehensiveness of its coverage, Monetary Economics also contains a state-of-the-art treatment of the theory, empirical methods and findings on monetary economics. Students will in particular welcome the close integration between theories and their empirical studies. Requiring only a grounding in the principles of economics, this text is comprehensive enough to be used on a two term course, or used selectively on one term courses.

Written in such a way that the theory of monetary economics is tempered by the goals of empirical relevance and intuitive understanding, the book contains the following pedagogical features: beginning of introductions and key concepts; end of chapter summaries plus review and discussion questions.

Monetary Economics will be of interest to teachers and students of not only monetary economics, but money, banking and macroeconomics.

Table of contents

Part I: Introduction and Heritage

1. Introduction
2. The Analysis of Money and Prices: The Heritage

Part II: Money in the Economy

3. Money in the Economy: General Equilibrium Analysis

Part III: The Demand for Money

4. The Transactions Demand for Money
5. Portfolio Selection and the Speculative Demand for Money
6. Precautionary and Buffer Stock Demand for Money
7. The Estimating Function for the Demand of Money
8. Monetary Aggregation
9. The Demand Function for Money: Empirical Findings

Part IV: Money Supply and Central Banking

10. The Money Supply Process
11. The Central Bank: Goals, Tools and Guides for Monetary Policy
12. The Central Bank: Targets, Conflicts, Independence and the Time Consistency of Policies

Part V: Money in the Macroeconomy

13. The Classical Paradigm in Macroeconomics: Neoclassical and Classical Models

14. The Keynesian and Neokeynesian Approaches to Short Run Macroeconomics
15. Expectations in Macroeconomics and Monetary Policy
16. Macro Models, Policy Rules and Perspectives on the Neutrality of Money
17. Walras' Law and the Interaction Among Markets

Part VI: Money in the Open Economy

18. The Open Economy: Exchange Rates and the Balance of Payments
19. The Macroeconomic Model for the Open Economy

Part VII: The Rates of Interest in the Economy

20. The Macroeconomic Theory of the Rate of Interest
21. The Structure of Interest Rates

Part VIII: Overlapping Generations Models of Money

22. The Overlapping Generations Model of Fiat Money
23. The OLG Model: Seigniorage, Bonds and the Neutrality of Fiat Money
24. The Old Model of Money: Making it More Realistic

Part IX: Money and Financial Institutions in Growth Economy

25. Neoclassical Growth Theory Without Money
26. Monetary Growth Theory

766 pages

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