Money: theory and practice:
Gespeichert in:
| Beteiligte Personen: | , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Cham, Switzerland
Springer
[2019]
|
| Schriftenreihe: | Springer texts in business and economics
|
| Schlagwörter: | |
| Links: | https://www.gbv.de/dms/zbw/167021611X.pdf |
| Abstract: | 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 |
| Beschreibung: | Literaturangaben |
| Umfang: | xiv, 406 Seiten Illustrationen, Diagramme |
| ISBN: | 9783030196998 |
Internformat
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| 490 | 0 | |a Springer texts in business and economics | |
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| 520 | 3 | |a 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 | |
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| 650 | 0 | 7 | |a Wachstumsgleichgewicht |0 (DE-588)4212287-9 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Entscheidung bei Unsicherheit |0 (DE-588)4070864-0 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Geldpolitik |0 (DE-588)4019902-2 |2 gnd |9 rswk-swf |
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Datensatz im Suchindex
| _version_ | 1818987966896275456 |
|---|---|
| any_adam_object | |
| author | Cao, Jin 1977- Illing, Gerhard 1955- |
| author_GND | (DE-588)134265483 (DE-588)129261831 |
| author_facet | Cao, Jin 1977- Illing, Gerhard 1955- |
| author_role | aut aut |
| author_sort | Cao, Jin 1977- |
| author_variant | j c jc g i gi |
| building | Verbundindex |
| bvnumber | BV047285857 |
| classification_rvk | QC 320 |
| ctrlnum | (OCoLC)1142782223 (DE-599)KXP167021611X |
| discipline | Wirtschaftswissenschaften |
| format | Book |
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| id | DE-604.BV047285857 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T19:15:05Z |
| institution | BVB |
| isbn | 9783030196998 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-032689320 |
| oclc_num | 1142782223 |
| open_access_boolean | |
| owner | DE-11 |
| owner_facet | DE-11 |
| physical | xiv, 406 Seiten Illustrationen, Diagramme |
| publishDate | 2019 |
| publishDateSearch | 2019 |
| publishDateSort | 2019 |
| publisher | Springer |
| record_format | marc |
| series2 | Springer texts in business and economics |
| spelling | Cao, Jin 1977- Verfasser (DE-588)134265483 aut Money: theory and practice Jin Cao, Gerhard Illing Cham, Switzerland Springer [2019] © 2019 xiv, 406 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier Springer texts in business and economics Literaturangaben 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 Wirkungsanalyse (DE-588)4224214-9 gnd rswk-swf Neoklassische Theorie (DE-588)4115360-1 gnd rswk-swf Wachstumsgleichgewicht (DE-588)4212287-9 gnd rswk-swf Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf Liquiditätspräferenztheorie (DE-588)4215386-4 gnd rswk-swf Geldpolitik (DE-588)4019902-2 s Wirkungsanalyse (DE-588)4224214-9 s Wachstumsgleichgewicht (DE-588)4212287-9 s Entscheidung bei Unsicherheit (DE-588)4070864-0 s Liquiditätspräferenztheorie (DE-588)4215386-4 s Neoklassische Theorie (DE-588)4115360-1 s DE-604 Illing, Gerhard 1955- Verfasser (DE-588)129261831 aut Erscheint auch als Online-Ausgabe Cao, Jin 978-3-030-19697-4 B:DE-206 V:DE-601 pdf/application https://www.gbv.de/dms/zbw/167021611X.pdf Inhaltsverzeichnis |
| spellingShingle | Cao, Jin 1977- Illing, Gerhard 1955- Money: theory and practice Wirkungsanalyse (DE-588)4224214-9 gnd Neoklassische Theorie (DE-588)4115360-1 gnd Wachstumsgleichgewicht (DE-588)4212287-9 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Geldpolitik (DE-588)4019902-2 gnd Liquiditätspräferenztheorie (DE-588)4215386-4 gnd |
| subject_GND | (DE-588)4224214-9 (DE-588)4115360-1 (DE-588)4212287-9 (DE-588)4070864-0 (DE-588)4019902-2 (DE-588)4215386-4 |
| title | Money: theory and practice |
| title_auth | Money: theory and practice |
| title_exact_search | Money: theory and practice |
| title_full | Money: theory and practice Jin Cao, Gerhard Illing |
| title_fullStr | Money: theory and practice Jin Cao, Gerhard Illing |
| title_full_unstemmed | Money: theory and practice Jin Cao, Gerhard Illing |
| title_short | Money: theory and practice |
| title_sort | money theory and practice |
| topic | Wirkungsanalyse (DE-588)4224214-9 gnd Neoklassische Theorie (DE-588)4115360-1 gnd Wachstumsgleichgewicht (DE-588)4212287-9 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Geldpolitik (DE-588)4019902-2 gnd Liquiditätspräferenztheorie (DE-588)4215386-4 gnd |
| topic_facet | Wirkungsanalyse Neoklassische Theorie Wachstumsgleichgewicht Entscheidung bei Unsicherheit Geldpolitik Liquiditätspräferenztheorie |
| url | https://www.gbv.de/dms/zbw/167021611X.pdf |
| work_keys_str_mv | AT caojin moneytheoryandpractice AT illinggerhard moneytheoryandpractice |