Format:
1 Online-Ressource (xv, 327 pages)
,
digital, PDF file(s)
ISBN:
9780511615207
Series Statement:
Raffaele Mattioli lectures
Content:
Towards a New Paradigm for Monetary Economics presents a pioneer treatment of critical topics in monetary economics. Unlike the prevailing monetary theory, this book focuses not on the role of money in facilitating transactions, but on the role of credit in facilitating economic activities more broadly. The 'new paradigm' emphasizes the demand and supply of loanable funds, which in turn requires the understanding of the imperfections of information and the role of banks. One enlightening view is that credit is quite different from other commodities in the sense that the former is based on information and default risk. The book consists of two parts. The first part develops a basic model of credit based on banks' portfolio choices. The second part is dedicated to the policy implications, among which are the liberalization of financial markets, the East Asian Crisis, the 1991 US recession and the subsequent recovery
Note:
Title from publisher's bibliographic system (viewed on 05 Oct 2015)
Additional Edition:
ISBN 9780521810340
Additional Edition:
ISBN 9780521008051
Additional Edition:
Erscheint auch als Druck-Ausgabe ISBN 9780521810340
Language:
English
Subjects:
Economics
Keywords:
Geldtheorie
;
Geldpolitik
DOI:
10.1017/CBO9780511615207
URL:
Volltext
(lizenzpflichtig)
URL:
Volltext
(lizenzpflichtig)
Author information:
Stiglitz, Joseph E. 1943-
Author information:
Greenwald, Bruce C. N. 1946-
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