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Post Keynesian Monetary Economics (Legal & Constitutional History)

Rousseas

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ISBN 10: 1563240823 / ISBN 13: 9781563240829
Verlag: Routledge, Armonk, NY, 1992
Gebraucht Zustand: Very Good cloth
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1563240823 Very good. Email for further information. Quality, Value, Experience. Media Shipped in New Boxes. Buchnummer des Verkäufers BOOKS039938I

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Bibliografische Details

Titel: Post Keynesian Monetary Economics (Legal & ...

Verlag: Routledge, Armonk, NY

Erscheinungsdatum: 1992

Einband: cloth

Zustand:Very Good

Auflage: first edition.

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Inhaltsangabe:

For the three decades that we have had monetary policy as we know it today, there have been two major schools of monetary thought - the neoclassical Keynesians and the monetarists. In this book Stephen Rousseas presents a critical overview of some of the central themes of Post Keynesian monetary economics. As Rousseas sees it, Post Keynesian monetary economics rejects the neoclassical and monetarist apporaches in large part by reversing the causal arrow of the quantity theory of money. The money supply is seen as a function of nominal income rather than the other way around; in other words, this is an endogenous theory of the money supply. Rousseas argues that the problem of financial innovations needs to be incorporated into the theory of an endogenous money supply - and he attempts to do this. Further, in a discussion of the policy implications of Post Keynesian monetary economics, he argues that an incomes policy by itself cannot be made to work without recourse to selective credit controls.

Inhaltsangabe:

During the past five years, crises in the US savings and loan industry, commercial banks, and other financial institutions have borne out the ideas that Rousseas expressed in the first edition. His main theme stresses the role of innovation in the financial sector of the economy and its implications for control of the money supply and credit, as well as the larger issue of macroeconomic policy. He holds a Post-Keynesian view of an elastic and endogenous money supply that is largely founded on the "general liquidity thesis" of the Radcliffe Committee. Indeed, the elasticity of the credit structure is even greater than the Radcliffe Committee originally claimed. Tables and charts are revised through 1990, and the text has been revised accordingly. An expanded preface to the revised edition makes this book very relevant to contemporary problems and policy.

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