Money, Information and UncertaintyThis is a completely revised edition of the well-known monetary textbook. The book discusses the latest analytical developments in monetary economic theory in a comprehensible and practical policy- orientated form for graduates and undergraduates specialising in monetary economics. The book provides a comprehensive survey of monetary economics, with the first nine chapters primarily concerned with micro issues, such as the role of, and demand for, money, the role and functions of banks and of the Central Bank; and the final nine chapters covering macro-economic issues, such as the transmission mechanism of monetary policy and international monetary problems. |
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Common terms and phrases
adjustment analysis assumption authorities Bank of England bonds borrowers capital cash Central Bank changes Chapter constraints countries currency current account curve debt demand for money determined Economic economists effect elasticity of demand equation equilibrium example exchange rate expenditures financial assets financial intermediaries fiscal fixed flows fluctuations funds future holding increase indexed information asymmetries interest elasticity investment investors involved IS/LM model issue Keynesian lags liabilities liquidity loans market maker means of payment monetarists monetary aggregates monetary base monetary growth monetary policy money balances money function money stock money supply NAIRU nominal incomes nominal interest rates output period Phillips curve portfolio private sector problem public-sector rational expectations region regulation relationship relative reserves response risk risky asset Section shift shocks short run short-term stable substitution supply shocks target term structure theory transactions costs uncertainty unemployment United Kingdom variables wage wealth yield