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Towards a new paradigm in monetary economics

By: Contributor(s): Material type: TextTextSeries: Raffaele Mattioli Lecture SeriesPublication details: Cambridge Cambridge University Press 2003Description: xv, 327 pISBN:
  • 9780521008051
Subject(s): DDC classification:
  • 332.4
Summary: Towards a New Paradigm for Monetary Economics presents a pioneer treatment of critical topics in monetary economics. Unlike the prevailing monetary theory, this book focuses not on the role of money in facilitating transactions, but on the role of credit in facilitating economic activities more broadly. The 'new paradigm' emphasizes the demand and supply of loanable funds, which in turn requires the understanding of the imperfections of information and the role of banks. One enlightening view is that credit is quite different from other commodities in the sense that the former is based on information and default risk. The book consists of two parts. The first part develops a basic model of credit based on banks' portfolio choices. The second part is dedicated to the policy implications, among which are the liberalization of financial markets, the East Asian Crisis, the 1991 US recession and the subsequent recovery. https://www.cambridge.org/core/books/towards-a-new-paradigm-in-monetary-economics/979889E54EEC2286E5C3C0AE2E0ED44B#fndtn-information
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Books Vikram Sarabhai Library Rack 18-B / Slot 674 (0 Floor, West Wing) General Stacks 332.4 S8T6 (Browse shelf(Opens below)) Available 155327

Towards a New Paradigm for Monetary Economics presents a pioneer treatment of critical topics in monetary economics. Unlike the prevailing monetary theory, this book focuses not on the role of money in facilitating transactions, but on the role of credit in facilitating economic activities more broadly. The 'new paradigm' emphasizes the demand and supply of loanable funds, which in turn requires the understanding of the imperfections of information and the role of banks. One enlightening view is that credit is quite different from other commodities in the sense that the former is based on information and default risk. The book consists of two parts. The first part develops a basic model of credit based on banks' portfolio choices. The second part is dedicated to the policy implications, among which are the liberalization of financial markets, the East Asian Crisis, the 1991 US recession and the subsequent recovery.

https://www.cambridge.org/core/books/towards-a-new-paradigm-in-monetary-economics/979889E54EEC2286E5C3C0AE2E0ED44B#fndtn-information

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