Money and Value: A Reconsideration Of Classical And Neoclassical Monetary Economics: 5 (Econometric Society Monographs, Series Number 5)

Grandmont, Jean-Michel

ISBN 10: 0521313643 / ISBN 13: 9780521313643

Published by Cambridge University Press, 1985

About this Item

This book addresses the controversial issue of whether a competitive monetary economy has built-in price adjustment mechanisms strong enough to remove excess demands and supplies on all markets. Series Editor(s): Chesher, Andrew; Jackson, Matthew O. Series: Econometric Society Monographs. Num Pages: 212 pages, references, index. BIC Classification: KCBM; KCH. Category: (P) Professional & Vocational. Dimension: 228 x 152 x 12. Weight in Grams: 320. . 1985. Reprint. paperback. . . . . Books ship from the US and Ireland.

Seller Inventory # V9780521313643

Bibliographic Details

• Title: Money and Value: A Reconsideration Of Classical And Neoclassical Monetary Economics: 5 (Econometric Society Monographs, Series Number 5)
• Publisher: Cambridge University Press
• Publication Date: 1985
• Language: English
• ISBN 10: 0521313643
• ISBN 13: 9780521313643
• Binding: Soft cover
• Condition: New

About this title

Synopsis

This book addresses one of the major theoretical issues that underlies, implicitly or explicitly, some recurrent controversies in macroeconomics - namely, whether a competitive monetary economy has built-in mechanisms that are strong enough to remove excess demands and supplies on all markets, through an automatic adjustment of the price system. Jean-Michel Grandmont sheds light on this complex subject by using the analytical techniques of general equilibrium theory alongside the methods of monetary analysis. The book warns against the indiscriminate use of the rational expectations hypothesis when approaching this topic, and conversely stresses the common-sense observation that short-run learning processes are among the most important characteristics of economic agents. Grandmont argues that such processes are deserving of careful theoretical study, and the result is a clear and rigorous analysis of all the issues involved.

Book Description

A "reconsideration" as to whether a competitive monetary economy has built-in mechanisms strong enough to remove excess supply and demand in all markets through an automatic adjustment of the price system.