Towards a New Paradigm in Monetary Economics |
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Author:
| Stiglitz, Joseph E. Greenwald, Bruce C. |
Series title: | Raffaele Mattioli Lectures |
ISBN: | 978-0-521-81034-0 |
Publication Date: | Sep 2003 |
Publisher: | Cambridge University Press
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Book Format: | Hardback |
List Price: | USD $107.00 |
Book Description:
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Argues for a theory of monetary economics which emphasises the importance of the demand and supply of loanable funds and the role of credit. Expanding upon the literature of new institutional economics, the first part of the book stresses the significance of imperfections in information, bankruptcy and banks. The second part examines the policy implications of the new paradigm and demonstrates its relevance to our understanding of two recent historical episodes--the East Asian...
More DescriptionArgues for a theory of monetary economics which emphasises the importance of the demand and supply of loanable funds and the role of credit. Expanding upon the literature of new institutional economics, the first part of the book stresses the significance of imperfections in information, bankruptcy and banks. The second part examines the policy implications of the new paradigm and demonstrates its relevance to our understanding of two recent historical episodes--the East Asian financial crisis and the 1991 US recession and subsequent recovery and boom.