Towards a New Paradigm in Monetary Economics

A pioneer treatment of monetary economics written by two of world's leading authorities.

Autorentext
Professor of Economics, Stanford University and Senior Research Fellow of Brookings Institution. Formerly Senior Vice President and Chief Economist at World Bank.

Klappentext
A pioneer treatment of monetary economics written by two of world??'s leading authorities.

Zusammenfassung
Written out of the authors' original thoughts and empirical observations while serving in some renowned economic organizations, the book provides a pioneer treatment of critical topics in monetary economics and insightful policy implications, among which are the 1991 US recession, the liberalization of financial markets, and the East Asian Crisis.

Inhalt
Introduction; Part I. Theory: 1. Reflections on the current state of monetary economics; 2. How finance differs; 3. The ideal banking system; 4. Restricted banking; 5. Market equilibrium; 6. From the corn economy to the monetary economy; 7. Towards a general equilibrium theory of credit; Part II. Applications: 8. Monetary policy; 9. Regulatory policy and the new paradigm; 10. Financial market liberalization; 11. Restructuring the banking sector; 12. Regional downturns and development of monetary policy; 13. The East Asia Crisis; 14. The 1991 US recession and the recovery; 15. The new paradigm and the new economy; 16. Concluding remarks.

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