Essays On Financial Economics And Open Economy Macroeconomics
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Essays in Macroeconomics of an Open Economy
Author | : Franz Gehrels |
Publisher | : Springer Science & Business Media |
Total Pages | : 194 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 3642956599 |
The large aggregates in the economy - consumption, investment, production of the domestic and the international sectors, international capital flows, financial accumulation and indebtedness - are analysed in this book as problems in time-optimisation for enterprises and households. The effects of fiscal and monetary policies along with exchange-rate variation are examined, and their simultaneous use for stabilizing demand are found to be necessary. All household decisions on consumptions, savings, and financial disposition are conditioned by uncertainty, and similarly for firms, who make more complex simultaneous decisions on production, real investment, financing, and market strategy. The marginal efficiency-of-investment function derived from these decisions is fundamentally different from the marginal productivity of capital in the neoclassical sense. An economy which grows through the accumulation of capital, increase in labor supply, and technological progress is the framework in which all of these variables move. This codetermines the allocation of factors between domestic and international production, and the development of foreign trade. The growth both of the public debt and of international investment are treated in depth.
Essays In The Fundamental Theory Of Monetary Economics And Macroeconomics
Author | : John Smithin |
Publisher | : World Scientific Publishing Company |
Total Pages | : 341 |
Release | : 2013-06-27 |
Genre | : Business & Economics |
ISBN | : 9814525294 |
This book provides a comprehensive overview, in the form of eight long essays, of the evolution of monetary theory over the three-quarters of century, from the time of Keynes to the present day. The essays are originally based on lecture notes from a graduate course on Advanced Monetary Economics offered at York University, Toronto, written in the style of academic papers. The essays are mathematical in method — but also take a historical perspective, tracing the evolution of monetary thought through the Keynesian model, the monetarist model, new classical model, etc, up to and including the neo-Wickesellian models of the early 21st century. The book will be an essential resource for both graduate and advanced undergraduate students in economics, as well as for individual researchers seeking basic information on the theoretical background of contemporary debates.
Trade, Growth, and Economic Policy in Open Economies
Author | : Karl-Josef Koch |
Publisher | : Springer Science & Business Media |
Total Pages | : 398 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 3662004232 |
Part 1 of this volume focusses on globalization. Gains from trade, international competitiveness, labour market issues in open economies, customs unions, dumping and intra-firm trade are the topics of this part. Part 2 puts a stronger emphasis on dynamic economics. Social income, intergenerational transfers, public pension systems, and bequest and gift motives in overlapping generation models are main topics. Economic policies are analyzed in Part 3, including the relation between wage rigidity and migration, several aspects of German financial and monetary policy, as well as tax competition. The volume concludes with institutional issues of globalization, a western view on eastern transition, social cost of rent seeking, and the evolution of social institutions.
Macroeconomics, Finance and Money
Author | : Giuseppe Fontana |
Publisher | : Springer |
Total Pages | : 363 |
Release | : 2010-03-11 |
Genre | : Business & Economics |
ISBN | : 0230285589 |
This volume focuses on current issues of debate in the area of modern macroeconomics and money, written from (a broadly interpreted) post Keynesian perspective. The papers connect with Philip Arestis' contributions to macroeconomics and money, and pay tribute to his distinguished career.
International Monetary Problems and Supply-Side Economics
Author | : G. Harcourt |
Publisher | : Springer |
Total Pages | : 170 |
Release | : 1986-09-29 |
Genre | : Business & Economics |
ISBN | : 134918392X |
Credit, Interest Rates and the Open Economy
Author | : Louis-Philippe Rochon |
Publisher | : Edward Elgar Publishing |
Total Pages | : 304 |
Release | : 2001-01-01 |
Genre | : Business & Economics |
ISBN | : 9781782542827 |
'This book should be on the reading list of every graduate course in monetary economics. The distinguished contributors not only examine and discuss the nature of money and the conduct of monetary policy in a modern credit economy, but also take an historical perspective through the writings of Cassel, Wicksell, Sraffa and Hicks, as well as Keynes and Kaldor, and extend the theory of money endogeneity (or "horizontalism") to the open economy and economic growth. Interested readers have a feast before them.' - A.P. Thirlwall, University of Kent at Canterbury, UK The horizontalist perspective is an extension of the post-Keynesian approach, that has hitherto focused on a theory of credit and money. This book extends horizontalism beyond its traditional boundaries and makes it consistent with the post-Keynesian theories of output and the open economy. The authors compare and contrast the horizontalist position with various orthodox and non-orthodox views on money. They argue that horizontalism is perfectly compatible with liquidity preference, credit constraints, and a flexible interest-rate mark-up, and address recent developments in banking that reinforce the validity of a horizontal schedule of credit-money. The overall intention is to place horizontalism within the current heterodox tradition as a general theory of the creation of money that is consistent with the post-Keynesian view on macroeconomic policy.
Money, Capital Mobility, and Trade
Author | : Guillermo A. Calvo |
Publisher | : MIT Press |
Total Pages | : 572 |
Release | : 2004 |
Genre | : Business & Economics |
ISBN | : 9780262532600 |
Essays by leading economists and scholars reflecting on Mundell's broad influence on modern open-economy macroeconomics.
Understanding Interdependence
Author | : Peter B. Kenen |
Publisher | : Princeton University Press |
Total Pages | : 566 |
Release | : 1995-06-04 |
Genre | : Business & Economics |
ISBN | : 0691034087 |
Surveying the current state of knowledge on the international monetary system, this volume contains essays on the behaviour of exchange rates, current account adjustment, international debt, European monetary union, capital mobility, the reform of former planned economies, and more.