Monetary Economics

An Integrated Approach to Credit, Money, Income, Production and Wealth

Authors: Godley, W., Lavoie, M.

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About this book

This book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. It introduces a methodology for studying how it is institutions which create flows of income, expenditure and production together with stocks of assets and liabilities, thereby determining how whole economies evolve through time.

About the authors

WYNNE GODLEY was formerly Director of the Department of Applied Economics at the University of Cambridge, UK, from 1970 to 1994, and subsequently a Professor of Applied Economics. During this period, from 1987-1988, he was also a Visiting Professor at University of Aalborg, Denmark. Between 1994 and 2001, Professor Godley was a Distinguished Scholar at the Levy Economics Institute of Bard College, New York. Professor Godley joined CERF as a Visiting Research Associate in 2002.

MARC LAVOIE is Professor in the Department of Economics at the University of Ottawa, Canada. He has been Visiting Professor at Curtin University, Australia, and at the universities of Bordeaux, Grenoble, Lille, Limoges, Nice, Rennes, Paris-1 and Paris-13. His main research areas are in post-Keynesian and monetary economics. He has written over 130 journal articles or book chapters as well as authoring Foundations of Post-Keynesian Economics and co-edited Central Banking in the Modern World.

Reviews

'The framework that Godley and Lavoie develop, with a consistent numerical and simulational handle on the various models, is a return to a majestic Wicksellian tradition A whole generation of graduate students have been brought up on policy nihilism, bordering on paralysis in the face of policy dilemmas. A new generation, armed with the tools, concepts and models developed by Godley and Lavoie, can now return to the grand traditions of macroeconomics as an experimental science, focusing on policy.' K. Vela Velupillai, Fellow, Girton College, Cambridge, UK, and Professor of Economics, University of Trento, Italy

'Wynne Godley has been the moving force behind keeping quantitative non-mainstream macroeconomics alive and flourishing for the last several decades...His work is inspiring, and will guide policy-oriented macroeconomic modellers for decades to come.' Lance Taylor, Cambridge Journal of Economics

'...[This] clearly deserves to become a standard reference for everybody interested in SFC modelling in particular and modern macroeconomics in general. There are already first signs that other economists are indeed inspired by this way of thinking about the economy...' - Till van Treeck, Intervention, European Journal of Economics and Economic Policies


Table of contents (13 chapters)

Table of contents (13 chapters)

Buy this book

eBook $129.00
price for USA in USD (gross)
  • ISBN 978-0-230-62654-6
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $169.99
price for USA in USD
  • ISBN 978-0-230-50055-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $180.00
price for USA in USD
  • ISBN 978-1-349-35274-6
  • Free shipping for individuals worldwide
  • This title is currently reprinting. You can pre-order your copy now.
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Bibliographic Information

Bibliographic Information
Book Title
Monetary Economics
Book Subtitle
An Integrated Approach to Credit, Money, Income, Production and Wealth
Authors
Copyright
2007
Publisher
Palgrave Macmillan UK
Copyright Holder
Palgrave Macmillan, a division of Macmillan Publishers Limited
eBook ISBN
978-0-230-62654-6
DOI
10.1057/9780230626546
Hardcover ISBN
978-0-230-50055-6
Softcover ISBN
978-1-349-35274-6
Edition Number
1
Number of Pages
XLIII, 530
Topics