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Bibliographic Details

Title: Modeling Monetary Economies
Publisher: Cambridge University Press
Publication Date: 2001
Language: English
ISBN 10: 0521789745
ISBN 13: 9780521789745
Binding: Soft cover
Edition: 2nd Edition.
Condition: Good
Weight: 1.334 pounds

About this title

Synopsis

The approach of this text for upper-level undergraduates is to teach monetary economics using the classical paradigm of rational agents in a market setting. By teaching from first principles, the authors aim to instruct students not only in the monetary policies and institutions that exist today in the United States but also in what policies and institutions may or should exist tomorrow and elsewhere. The text builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. The authors have added in this second edition new material on speculative attacks on currencies, social security, currency boards, central banking alternatives, the payments system, and the Lucas model of price surprises. Discussions of many topics have been extended, presentations of data greatly expanded, and new exercises added.

Book Description

Uniquely among monetary textbooks, this text teaches monetary economics using a simple model based on standard microeconomics. The model is clearly and explicitly specified so that students see and participate in discovering the implications of the model for monetary questions. Variations of this model are then used to address the important monetary topics-- inflation, currency crises, monetary unions, bank runs, the payments system, central banking, and the national debt, among many others.

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