Handbook of Monetary Economics: Volume 2

Due to the fundamental two-way interaction between the theoretical and the empirical aspects of monetary economics, together with the relationship of both to matters of public policy, any organization of material spanning the subject is bound to be arbitrary. This work is suitable for graduate economics students on advanced courses.

Inhalt

Money, Other Assets, and Economic Activity. Consumption and investment (A.B. Abel). Why does money affect output? A survey (O.J. Blanchard). Credit rationing (D. Jaffee, J. Stiglitz). The macroeconomics of government finance (M. Haliassos, J. Tobin). Money, Inflation and Welfare. Inflation: Theory and evidence (B.T. McCallum). Costs of inflation (J. Driffill, G.E. Mizon, A.M. Ulph). The optimum quantity of money (M. Woodford). Monetary Policy. Rules versus discretion in monetary policy (S. Fischer). Targets and instruments of monetary policy (B.M. Friedman). Monetary policy in the open economy (R. Dornbusch, A. Giovannini).