Essays in Monetary Economics (Collected Works of Harry Johnson)Reprinting the second edition (which included a new introduction explaining developments which had emerged since first publication) this book discusses explorations in the fundamental theory of a monetary economy, a theoretical critique of the ‘Phillips Curve’ approach to the theory of inflation and the theory of the term structure of interest rates in terms of the theory of forward markets pioneered by David Meiselman. |
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Essays in Monetary Economics (Collected Works of Harry Johnson) Harry G. Johnson Limited preview - 2013 |
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adjustment alternative analysis approach argued argument assets assumed assumption balance of payments balance-of-payments bank’s behaviour benefit capital per head cash balance central bank confidence conflict cost curve defined deflation demand for money deposits difficulty domestic Econ economic development economic growth economic policy economists effect efficient empirical equilibrium exchange rate expected finance find first fiscal policy fixed flow Friedman function government debt import-substitution important increase inflationary influence inside money interest rates International Monetary Fund international monetary system investment issues Keynes Keynesian labour less developed countries liquidity preference long-run ment Milton Friedman monetary authority monetary policy monetary theory money supply output Patinkin period Phillips curve price level price stability problem production quantity of money quantity theory rate of growth rate of inflation rate of interest rate of return real balances reflect reserve currency savings ratio significant specific tion transactions demand velocity wealth yield