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Macroeconomics and Monetary Theory / Harry G. Johnson

Publisher	(London : Taylor and Francis)
Year	2017
Edition	First edition.
Authors	*Johnson, Harry G. author

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Links to the text	Location	Volume	Call No.	Barcode No.	Status	Comments	ISBN	Printed	Restriction	Reserve
Links to the text	Library Off-campus access			OB00179367		Taylor & Francis eBooks Archive Collection (電子ブック)	9780203786802

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Material Type	E-Book
Media type	機械可読データファイル
Size	1 online resource
Notes	chapter 1 Introduction: Macroeconomics and Monetary Theory -- chapter 2 The Keynesian income-expenditure model -- chapter 3 Applications of the Keynesian model to economic policy -- chapter 4 The consumption function -- chapter 5 Investment, business cycles and growth -- part Part II The Demand for Money -- chapter 6 Major issues in monetary economics -- chapter 7 Classical Quantity theory -- chapter 8 Keynesian monetary theory: fundamentals of the portfolio approach -- chapter 9 Integration of the transactions demand for cash and portfolio approaches to the demand for money -- chapter 10 Liquidity preference and risk aversion -- chapter 11 The term structure of interest rates -- chapter 12 Financial intermediaries -- chapter 13 Friedman's restatement of the Quantity theory -- part Part III Integration of Monetary and Value Theory -- chapter 14 The real balance effect -- chapter 15 The real balance effect: further development. -- part Part IV Empirical Work in Monetary Economics -- chapter 16 The demand for money: estimation of structural equations -- chapter 17 Keynesian theory versus the Quantity theory: reduced form estimation -- part Part V Some Major Policy Issues -- chapter 18 Theory of the supply of money -- chapter 19 The theory of inflation -- chapter 20 Money in growth models -- chapter 21 International monetary theory "Macroeconomics is an outgrowth from the main stream of classical monetary theory following Keynes. Keynes changed the emphasis from determination of the level of money prices to determination of the level of output and employment. He also changed the key relationship from demand and supply of money as determining the price level to the relationship between consumption expenditure and income, in conjunction with private investment expenditure, as determining the level of output and therefore employment demanded. The income multiplier replaced the velocity of circulation as the key concept of monetary theory. The tendency of the past twenty-five years has been to reintegrate Keynesian and classical monetary theory into one general system of analysis. Moreover, as inflation has succeeded mass unemployment as a major policy problem, interest in classical monetary theory has revived, while Keynesians have increasingly' emphasized the monetary aspects of Keynesian theory. The proper contemporary distinction is not between two separate branches of economic theory, but between two areas of application or contexts of the theory of rational maximizing behavior. In the one (the microeconomic) context, it is assumed either that the overall workings of the economic system can be disregarded, or that the macroeconomic relationships are in full general equilibrium. In the other (the macroeconomic) context, it is assumed that the maximizing decisions of individual economic units (firms and households) will not necessarily add up to a macroeconomic equilibrium, but will produce a disequilibrium situation that will in the course of time produce changes in the individual decisions."--Provided by publisher HTTP:URL=https://www.taylorfrancis.com/books/9780203786802 Pub. note=Click here to view.
Subjects	LCSH:Macroeconomics LCSH:Money LCSH:Monetary policy FREE:Economics
Classification	LCC:HG221 DC:332.401
ID	8000081007
ISBN	9780203786802