Towards a New Paradigm in Monetary Economics

Towards a New Paradigm in Monetary Economics

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by Joseph Stiglitz, Bruce Greenwald
     
 

ISBN-10: 0521008050

ISBN-13: 9780521008051

Pub. Date: 10/31/2003

Publisher: Cambridge University Press

Expanding upon the literature of new institutional economics, the first part of this study stresses the significance of imperfections in information, bankruptcy and banks. The second part examines the policy implications of the new paradigm emphasizing loanable fund demand and supply, and demonstrates its relevance to our understanding of two recent historical

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Overview

Expanding upon the literature of new institutional economics, the first part of this study stresses the significance of imperfections in information, bankruptcy and banks. The second part examines the policy implications of the new paradigm emphasizing loanable fund demand and supply, and demonstrates its relevance to our understanding of two recent historical episodes—the East Asian financial crisis and the 1991 U.S. recession and subsequent recovery and boom.

Product Details

ISBN-13:
9780521008051
Publisher:
Cambridge University Press
Publication date:
10/31/2003
Series:
Raffaele Mattioli Lectures Series
Edition description:
New Edition
Pages:
344
Sales rank:
1,229,402
Product dimensions:
5.43(w) x 8.50(h) x 0.79(d)

Table of Contents

Introduction; Part I. Theory: 1. Reflections on the current state of monetary economics; 2. How finance differs; 3. The ideal banking system; 4. Restricted banking; 5. Market equilibrium; 6. From the corn economy to the monetary economy; 7. Towards a general equilibrium theory of credit; Part II. Applications: 8. Monetary policy; 9. Regulatory policy and the new paradigm; 10. Financial market liberalization; 11. Restructuring the banking sector; 12. Regional downturns and development of monetary policy; 13. The East Asia Crisis; 14. The 1991 US recession and the recovery; 15. The new paradigm and the new economy; 16. Concluding remarks.

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