Essays in Monetary Economics

Description

Reprinting the second edition (which included a new introduction explaining developments which had emerged since first publication) this book discusses explorations in the fundamental theory of a monetary economy, a theoretical critique of the ‘Phillips Curve’ approach to the theory of inflation and the theory of the term structure of interest rates in terms of the theory of forward markets pioneered by David Meiselman. Cover Half Title Title Page Copyright Page Original Title Page Original Copyright Page INTRODUCTION TO SECOND EDITION PREFACE Table of Contents PART ONE: MONETARY THEORY I. Monetary Theory and Policy II. Recent Developments in Monetary Theory III. A Survey of Theories of Inflation IV. Money in a Neo-Classical One-Sector Growth Model V. Notes on the Theory of Transactions Demand for Cash APPENDIX TO CHAPTER V A Practical Application PART TWO: MONETARY AND FISCAL POLICY ISSUES IN NORTH AMERICA VI. Alternative Guiding Principles for Monetary Policy in Canada VII. Major Issues in Monetary and Fiscal Policy in the United States PART THREE: MONETARY AND FISCAL PROBLEMS OF DEVELOPING COUNTRIES VIII. Fiscal Policy and the Balance of Payments in a Growing Economy IX. Is Inflation the Inevitable Price of Rapid Development or a Retarding Factor in Economic Growth? X. International Monetary Reform and the Less Developed Countries APPENDIX TO CHAPTER X Mathematical Appendix on Commodity Reserve Money INDEX