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Monetary Theory and Policy By Carl E. Walsh

Monetary Theory and Policy
by Carl E. Walsh

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This text discusses the elasticity of money demand, fiscal theory of price level, optimal policies in forward-looking models, stability and the Taylor principle, and Keynesian models. It covers multiple equilibria, cash-in-advance models, and the Ramsey approach to optimal monetary taxation.
6 in stock

Monetary Theory and Policy Summary

Monetary Theory and Policy by Carl E. Walsh

This volume presents an advanced treatment of critical topics in monetary economics and the models economists use to investigate the interactions between real and monetary factors. It provides extensive coverage of general equilibrium models of money, models of the short-run real effects of monetary policy, and game-theoretic approaches to monetary policy. Among the topics covered are money-in-the-utility-function models, cash-in-advance models, money and public finance, the credit channel of money, models of time consistency, monetary policy operating procedures, and interest rates and monetary policy. The book uses dynamic simulations to evaluate quantitatively the significance of the channels through which monetary policy and inflation affect the economy. It extensively examines modern approaches to monetary policy that stress the incentives facing central banks and the strategic interactions between central banks and the private sector. Where most treatments of monetary policy emphasize money supply control and money demand, this book focuses on the implications of interest rate control for monetary policy. The book is designed for advanced graduate students in monetary economics, economic researchers, and economists working in policy institutions and central banks.

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Monetary Theory and Policy Reviews

"Walsh's graduate text is a superb and comprehensive treatment of theory, empirical evidence and policy issues in modern monetary economics. It will be a most essential reading and reference for students, researchers and policy makers in the field of monetary economics and policy."--Lars E. O. Svensson, Department of Economics, Princeton University

About Carl E. Walsh

Carl E. Walsh is Professor of Economics at the University of California, Santa Cruz.

Additional information

Monetary Theory and Policy by Carl E. Walsh
Carl E. Walsh
Used - Very Good
MIT Press Ltd
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us.