Books > Business & Economics > Economics > Macroeconomics > Monetary economics
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Monetary Economics - An Integrated Approach to Credit, Money, Income, Production and Wealth (Hardcover)
Loot Price: R4,912
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Monetary Economics - An Integrated Approach to Credit, Money, Income, Production and Wealth (Hardcover)
Expected to ship within 12 - 17 working days
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This book challenges the mainstream paradigm, which is based on the
inter-temporal optimisation of welfare by individual agents. It
introduces a new methodology for studying how it is institutions
which create flows of income, expenditure and production together
with stocks of assets (including money) and liabilities, thereby
determining how whole economies evolve through time. Starting with
extremely simple stock flow consistent (SFC) models, the text
describes a succession of increasingly complex models. Solutions of
these models are used to illustrate ways in which whole economies
evolve when shocked in various ways. Readers will be able to
download all the models and explore their properties for
themselves. A major conclusion is that economies require management
via fiscal and monetary policy if full employment without inflation
is to be achieved.
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