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Monetary Theory
This volume takes as its central core the question of how changes in the supply or demand for money and for other financial assets affect prices, output and interest rates. The topics covered include the microeconomics of money, the role of money in portfolios, money demand functions, the quantity theory of money, and the relation of money to interest rates.
Professor Mayer has prepared a highly authoritative selection of the most important articles and papers which will be indispensable to economists with an interest in monetary economics.
Professor Mayer has prepared a highly authoritative selection of the most important articles and papers which will be indispensable to economists with an interest in monetary economics.
More Information
Contributors
Contents
More Information
This volume takes as its central core the question of how changes in the supply or demand for money and for other financial assets affect prices, output and interest rates. The topics covered include the microeconomics of money, the role of money in portfolios, money demand functions, the quantity theory of money, and the relation of money to interest rates.
Professor Mayer has prepared a highly authoritative selection of the most important articles and papers which will be indispensable to economists with an interest in monetary economics.
Professor Mayer has prepared a highly authoritative selection of the most important articles and papers which will be indispensable to economists with an interest in monetary economics.
Contributors
Contributors: W. Baumol, B. Friedman, R. Dornbusch, J. Hicks, R. King, D. Laidler, H. Minsky, J. Tobin
Contents
CONTENTS
INTRODUCTION
PART I: The Microeconomics of Money
W. Baumol (1952), ‘The Transactions Demand for Cash: An Inventory Theoretic Approach’
M. Miller and D. Orr (1966), ‘A Model of the Demand for Money by Firms’
C. Sprenkle (1969), ‘The Uselessness of the Transactions Demand Models’
G. Akerlof and R. Milbourne (1978), ‘New Calculations of Income and Interest Elasticities in Tobins’ Model of the Transactions Demand for Money’
PART II: The Portfolio Approach
J. Hicks (1935), ‘A Suggestion for Simplifying the Theory of Money’
J. Tobin (1969), ‘A General Equilibrium Approach to Monetary Theory’
J. Tobin, ‘An Essay on the Principles of Debt Management’
R. Dornbusch, ‘Comments on Brunner and Meltzer’
K. Brunner, A. Cukierman and A. Meltzer (1983), ‘Money and Economic Activity, Inventories and Business Cycles’
PART III: The Demand of Money, the Quantity Theory and Nominal Income
M. Friedman (1956), ‘The Quantity Theory of Money - A Restatement’
D. Patinkin (1969), ‘The Chicago Tradition, the Quantity Theory and Friedman’
M. Friedman (1988), ‘Money and the Stock Market’
D. Laidler (1982), ‘On the Demand for Money and the Real Balance Effect’
M. Friedman (1988), ‘Lessons on Monetary Policy from the 1980’s’
PART IV: Money and Interest Rates
M. Levi and J. Makin (1978), ‘Anticipated Inflation and Interest Rates: Further Interpretation of Findings on the Fisher Equation’
J. Peek and J. Wilcox (1987), ‘Monetary Policy Regimes and the Reduced Form for Interest Rates’
PART V: Alternative View of Monetary Theory
R. King and C. Plosser (1984), ‘Money, Credit and Prices in a Real Business Cycle’
E. Fama (1980), ‘Banking in the Theory of Finance’
H. Minsky (1964), ‘Longer Waves in Financial Relations: Financial Factors in the More Severe Depressions’
INTRODUCTION
PART I: The Microeconomics of Money
W. Baumol (1952), ‘The Transactions Demand for Cash: An Inventory Theoretic Approach’
M. Miller and D. Orr (1966), ‘A Model of the Demand for Money by Firms’
C. Sprenkle (1969), ‘The Uselessness of the Transactions Demand Models’
G. Akerlof and R. Milbourne (1978), ‘New Calculations of Income and Interest Elasticities in Tobins’ Model of the Transactions Demand for Money’
PART II: The Portfolio Approach
J. Hicks (1935), ‘A Suggestion for Simplifying the Theory of Money’
J. Tobin (1969), ‘A General Equilibrium Approach to Monetary Theory’
J. Tobin, ‘An Essay on the Principles of Debt Management’
R. Dornbusch, ‘Comments on Brunner and Meltzer’
K. Brunner, A. Cukierman and A. Meltzer (1983), ‘Money and Economic Activity, Inventories and Business Cycles’
PART III: The Demand of Money, the Quantity Theory and Nominal Income
M. Friedman (1956), ‘The Quantity Theory of Money - A Restatement’
D. Patinkin (1969), ‘The Chicago Tradition, the Quantity Theory and Friedman’
M. Friedman (1988), ‘Money and the Stock Market’
D. Laidler (1982), ‘On the Demand for Money and the Real Balance Effect’
M. Friedman (1988), ‘Lessons on Monetary Policy from the 1980’s’
PART IV: Money and Interest Rates
M. Levi and J. Makin (1978), ‘Anticipated Inflation and Interest Rates: Further Interpretation of Findings on the Fisher Equation’
J. Peek and J. Wilcox (1987), ‘Monetary Policy Regimes and the Reduced Form for Interest Rates’
PART V: Alternative View of Monetary Theory
R. King and C. Plosser (1984), ‘Money, Credit and Prices in a Real Business Cycle’
E. Fama (1980), ‘Banking in the Theory of Finance’
H. Minsky (1964), ‘Longer Waves in Financial Relations: Financial Factors in the More Severe Depressions’
