A Course in Monetary Economics: Sequential Trade, Money, and by Benjamin Eden

By Benjamin Eden

Книга A path in financial Economics: Sequential exchange, funds, and Uncertainity A direction in financial Economics: Sequential alternate, cash, and UncertainityКниги Экономика Автор: Benjamin Eden Год издания: 2004 Формат: pdf Издат.:Wiley-Blackwell Страниц: 424 Размер: 2 ISBN: 0631215662 Язык: Английский0 (голосов: zero) Оценка:Monetary Economics and Sequential exchange is an insightful advent to the complicated themes in financial economics. available to scholars who've mastered the diagrammatic instruments of economics, it discusses genuine concerns with numerous modeling possible choices, taking into account an immediate comparability of the results of the several versions. The exposition is obvious and logical, supplying a superior beginning in financial thought and the suggestions of monetary modeling. The textual content is rooted within the author's years of training and learn, and should be hugely appropriate for financial economics classes in either the upper-level undergraduate and graduate degrees.

Show description

Read Online or Download A Course in Monetary Economics: Sequential Trade, Money, and Uncertainity PDF

Best money & monetary policy books

Handbook of Monetary Economics. Volume 1

End result of the primary two-way interplay among the theoretical and the empirical features of financial economics, including the connection of either to issues of public coverage, any association of fabric comprehensively spanning the topic is sure to be arbitrary. The 23 surveys commissioned for this guide were prepared in a manner that the editors believe displays one of the most very important logical divisions in the box and jointly they current a complete account of the present cutting-edge.

What Has the Government Done to Our Money? [Reprint of First Edition]

2011 Reprint of 1963 variation. complete facsimile of the unique version, no longer reproduced with Optical acceptance software program. Murray Newton Rothbard (1926 - 1995) was once an American writer and economist of the Austrian tuition who helped outline capitalist libertarianism and popularized a kind of free-market anarchism he termed "anarcho-capitalism.

50 Years of the German Mark: Essays in Honour of Stephen F. Frowen

This well timed assortment offers an authoritative assessment of 1 of the 3 key currencies of the second one 1/2 the 20th century, the German Mark. In his keynote essays, Charles A. E. Goodhart displays at the way forward for the Euro opposed to the history of the good fortune tale of the Deutsche Mark.

Extra resources for A Course in Monetary Economics: Sequential Trade, Money, and Uncertainity

Example text

15) by ΔCt = −x, yields the price of Ct in terms of Ct+1 : −ΔCt+1 /ΔCt = 1 + [f (m + x) − f (m)]/x. 16) When x is small, we may approximate: [f (m + x) − f (m)]/x ≈ f (m). 4 The marginal product of real balances, f (m), plays the role of the interest rate in the standard Fisherian model. In Fisher’s model if you deposit an amount of money which can buy a unit of corn in the bank you will get next period an amount that can buy 1 + r units of corn, where r is the real interest rate. In our model, if you add to your money holdings an amount that can buy a unit of corn, you will get the equivalent of 1 + f (m) units of corn next period.

2 THE MULTI-PERIOD, SINGLE-AGENT PROBLEM We are now ready to discuss the choice of real balances. 8) where U( ) has the standard properties of a single period utility function and f( ) has the standard properties of a production function, with f (0) = 0. Indeed we may think of real balances as an input in the production of consumption (liquidity services). Although money is useful only if there are many goods, we simplify the discussion by assuming that there is only one non-storable good: Corn.

8. He will choose to accumulate real balances by giving up x units of corn and moving to point B. 8) and he may choose either to continue and accumulate real balances (if m + x < m ) or maintain the level he has (if m + x = m ). In any case, to accumulate real balances Mr. 8. Consider now the case in which all the agents in the economy lost money or paid some money as lump sum taxes to the government. In this case, they will all try to move to point B by selling corn for money. Since the money supply is constant, this leads only to a decline in the price level.

Download PDF sample

Rated 4.60 of 5 – based on 28 votes