Springer Texts in Business and Economics
cover

Money: Theory and Practice

Authors: Cao, Jin, Illing, Gerhard

  • Offers an accessible approach to the state-of-art New Keynesian framework for monetary policy analysis
  • Presents a highly technical framework on an intuitive level based on simple static and two-period models, while also preparing for an extension to a truly dynamic analysis
  • Includes exercises and case studies to help students understand the comprehensive field
おすすめポイントをすべて見る

書籍の購入

イーブック  
  • ISBN 978-3-030-19697-4
  • ウォーターマーク付、 DRMフリー
  • ファイル形式:
  • どの電子書籍リーダーからでもすぐにお読みいただけます。
ハードカバー 約 ¥10,529
価格の適用国: Japan (日本円価格は個人のお客様のみ有効) (小計)
  • 予定日: September 15, 2019
  • ISBN 978-3-030-19696-7
  • 個人のお客様には、世界中どこでも配送料無料でお届けします。
この教本について

This textbook provides an introduction to modern monetary economics for advanced undergraduates, highlighting the lessons learned from the recent financial crisis. The book presents both the core New Keynesian model and recent advances, taking into account financial frictions, and discusses recent research on an intuitive level based on simple static and two-period models, but also prepares readers for an extension to a truly dynamic analysis. Further, it offers a systematic perspective on monetary policy, covering a wide range of models to help readers gain a better understanding of controversial issues. Part I examines the long-run perspective, addressing classical monetary policy issues such as determination of the price level and interaction between monetary and fiscal policy. Part II introduces the core New Keynesian model, characterizing optimal monetary policy to stabilize short-term shocks. It discusses rules vs. discretion and the challenges arising from control errors, imperfect information and robustness issues. It also analyzes optimal control in the presence of an effective lower bound. Part III focuses on modelling financial frictions. It identifies the transmission mechanisms of monetary policy via banking and introduces models with incomplete markets, principal-agent problems, maturity mismatch and leverage cycles, to show why investors’ and intermediaries’ own stakes play a key role in lending with pro-cyclical features. In addition, it presents a tractable model for handling liquidity management and demonstrates that the need to sell assets in crisis amplifies the volatility of the real economy. Lastly, the book discusses the relation between monetary policy and financial stability, addressing systemic risk and the role of macro-prudential regulation. 


著者について

Jin Cao is a research economist in Norges Bank, the Central Bank of Norway. He holds a PhD in economics from Ludwig Maximilians University of Munich, Germany. His research focuses on banking and finance, monetary economics, economics and institutions. 


Gerhard Illing holds the chair in macroeconomics at the Ludwig Maximilian University in Munich, Germany. Previously, he was Professor at the University of Bamberg, Germany from 1993 - 1995 and at the Goethe University Frankfurt, Germany from 1995 - 2001. His research focuses on monetary theory, financial stability, systemic risk and lender of last resort policy. He has written several books on macroeconomics, monetary theory and game theory.  

書籍の購入

イーブック  
  • ISBN 978-3-030-19697-4
  • ウォーターマーク付、 DRMフリー
  • ファイル形式:
  • どの電子書籍リーダーからでもすぐにお読みいただけます。
ハードカバー 約 ¥10,529
価格の適用国: Japan (日本円価格は個人のお客様のみ有効) (小計)
  • 予定日: September 15, 2019
  • ISBN 978-3-030-19696-7
  • 個人のお客様には、世界中どこでも配送料無料でお届けします。
Loading...

あなたへのおすすめ

Loading...

書誌情報

Bibliographic Information
Book Title
Money: Theory and Practice
Authors
Series Title
Springer Texts in Business and Economics
Copyright
2019
Publisher
Springer International Publishing
Copyright Holder
Springer Nature Switzerland AG
イーブック ISBN
978-3-030-19697-4
DOI
10.1007/978-3-030-19697-4
ハードカバー ISBN
978-3-030-19696-7
Series ISSN
2192-4333
Edition Number
1
Number of Illustrations
150 b/w illustrations
Topics