Alan A. Rabin Monetary Theory

ISBN 13: 9781840647440

Monetary Theory

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Primarily basing his work on the theories of economist Leland Yeager, Rabin (economics, U. of Tennessee) presents a "hybrid of treatise and graduate textbook" that concentrates on the fundamentals of monetary-disequilibrium theory and orthodox monetarism. He also reviews the new Keynesian economics and new classical macroeconomics, finding them wanting in comparison to monetary disequilibrium theory. Annotation 2004 Book News, Inc., Portland, OR (booknews.com)

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About the Author:

Alan A. Rabin, Professor of Economics, University of Tennessee, Chattanooga, US

Review:

`This is a valuable and scholarly contribution to modern monetary theory. It keeps alive the ideas of monetary disequilibrium proposed by such writers as Clower, Leijonhufvud, Yeager and Laidler. While so much of monetary theory has focused on aggregate issues of how national income and the rate of inflation are determined, making use of large scale general equilibrium models, this work aims at the more fundamental question of how monetary factors facilitate the realization of gains from trade at the micro level, how they affect adjustment processes that work in individual markets, and how the interaction between these individual adjustment processes determines the performance of the overall economic system. The book is definitely worth the attention of any serious student of money.' -- Peter Howitt, Brown University, US

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Book Description Edward Elgar Publishing Ltd, United Kingdom, 2004. Hardback. Condition: New. Language: English . Brand New Book. Alan Rabin argues that new Keynesian and new classical macroeconomics, which have dominated the literature and textbooks, have crowded the monetary-disequilibrium hypothesis, or orthodox monetarism, off the intellectual stage. Trying to remedy this imbalance, the author concentrates on what he judges to be the essentials of monetary theory. Emphasizing money s fundamental role in lubricating exchanges and promoting economic coordination, Alan Rabin argues that when the lubricant goes awry, so do the processes being lubricated. Monetary disequilibrium can have repercussions that last months and even years. The book presents the author s interpretation of Yeager s enormous contributions to monetary theory, especially his development of monetary-disequilibrium theory, while also building on the contributions of Patinkin, Clower, Leijonhufvud, Barro and Grossman, and Laidler. A unique hybrid of treatise and graduate text, Monetary Theory fills a tremendous void in the current literature and will be of interest to scholars and students of monetary theory and economic thought. Seller Inventory # AAJ9781840647440

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Book Description Edward Elgar Publishing Ltd, United Kingdom, 2004. Hardback. Condition: New. Language: English . Brand New Book. Alan Rabin argues that new Keynesian and new classical macroeconomics, which have dominated the literature and textbooks, have crowded the monetary-disequilibrium hypothesis, or orthodox monetarism, off the intellectual stage. Trying to remedy this imbalance, the author concentrates on what he judges to be the essentials of monetary theory. Emphasizing money s fundamental role in lubricating exchanges and promoting economic coordination, Alan Rabin argues that when the lubricant goes awry, so do the processes being lubricated. Monetary disequilibrium can have repercussions that last months and even years. The book presents the author s interpretation of Yeager s enormous contributions to monetary theory, especially his development of monetary-disequilibrium theory, while also building on the contributions of Patinkin, Clower, Leijonhufvud, Barro and Grossman, and Laidler. A unique hybrid of treatise and graduate text, Monetary Theory fills a tremendous void in the current literature and will be of interest to scholars and students of monetary theory and economic thought. Seller Inventory # AAJ9781840647440

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