Description: Central Banking In The Modern World : Alternative Perspectives, Hardcover by Lavoie, Marc (EDT); Seccareccia, Mario (EDT), ISBN 1843766418, ISBN-13 9781843766414, Like New Used, Free shipping in the US The "New Keynesian Synthesis"--which links the assumption that the monetary stock is endogenous with aspects of Milton Friedman's macroeconomics, particularly the traditional vertical Phillips curve with inflation expectations--has become the current fad in the political economy of Central Banking, write the editors (professors of economics at the U. of Ottawa), yet neither the content of central bank reports nor the academic literature has done a good job adjusting to this fact. They present 14 papers from a September 2003 research conference that look at the new model, as well as historical aspects of central banking. The first group of papers explains different versions of the model and discusses some of their implications. Following those come papers dedicated to understanding transmission mechanisms of monetary policy as it relates to the current political economy of central banking. A final section examines more historical issues and includes a comparative examination of Keynesian and Chicago school approaches to the policy effectiveness of central banks in open economies, an exploration of the question of macroeconomic instability in a monetary economy, and a discussion of the disjuncture between theory and factual evidence in Allan Meltzer's history of the US Federal Reserve. Annotation ©2004 Book News, Inc., Portland, OR ()
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Book Title: Central Banking In The Modern World : Alternative Perspectives
Number of Pages: 320 Pages
Language: English
Publication Name: Central Banking in the Modern World
Publisher: Elgar Publishing, Incorporated, Edward
Subject: Interest, Banks & Banking, Money & Monetary Policy
Item Height: 1.2 in
Publication Year: 2004
Item Weight: 22.3 Oz
Type: Textbook
Item Length: 9.4 in
Subject Area: Business & Economics
Author: Mario Seccareccia
Item Width: 6.4 in
Format: Hardcover
