Money and Employment (inbunden)
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Format
Inbunden (Hardback)
Språk
Engelska
Antal sidor
392
Utgivningsdatum
2005-08-01
Förlag
Edward Elgar Publishing Ltd
Illustrationer
Illustrations
Dimensioner
247 x 171 x 31 mm
Vikt
748 g
ISBN
9781840648621

Money and Employment

A Study of the Theoretical Implications of Endogenous Money

av Peter Docherty
Inbunden,  Engelska, 2005-08-01
2335
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Money and Employment examines the analytical role of money within classical, neoclassical and Keynesian theories of output and employment.The book argues that an endogenously determined money supply is inconsistent with the essential structure of neoclassical economic theory but a necessary condition for a long run interpretation of Keynes's theory of unemployment. It carefully examines Nicholas Kaldor's theory of endogenous money, linking it with Kaldor's treatment of interest and employment. The structure of Kaldor's theory is then shown to overcome important problems with Keynes's 1936 theory of unemployment. A macro model incorporating insights from Kaldor's approach to monetary analysis as well as contributions from the work of Basil Moore is also developed, which may be used as a foundation for further research of long run monetary explanations of unemployment. Exploring the theoretical structure and implications of endogenous money, this book will be a fascinating read for a wide ranging audience, including: academics, students and researchers with an interest in the role of money and interest rates in economic systems, and more specifically, post Keynesian theorists, macroeconomists, central bankers, and historians of economic thought.
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'This volume may be described as a rare book. Treatises on monetary theory by Australian authors are rare. Almost non-existent, in fact. The tiny and invisible fraternity of monetary adepts among The Economic Record's readership should welcome the appearance of these 383 learned pages on the intricacies of their pursuit.' -- William Coleman, The Economic Record 'This book represents a very considerable achievement. It is clearly written, displays very substantial scholarship, and makes a strong case for the Kaldor-Moore approach, suitably modified, as the analytical core of a genuinely non-neoclassical Keynesian macroeconomics. It is strongly recommended to anyone with an interest in monetary theory and monetary policy, today and in the history of economic thought.' -- John King, History of Economics Review

Övrig information

Peter Docherty, Lecturer, School of Finance and Economics, University of Technology, Sydney, Australia

Innehållsförteckning

Contents: 1. Introduction: Money and Employment 2. Money in Classical Economics 3. The Quantity Theory and Wicksells Pure Credit Economy 4. Monetary Conditions and Employment in The General Theory 5. Endogeneity in Kaldors Anti-Monetarist Writings 6. The Structure of Interest Rates: Kaldors Early Monetary Writings 7. Moores Contribution: Wholesale Markets and the Banking System 8. Criticism of the KaldorMoore Approach: Short Term Finance and Increasing Risk 9. The Banking Sector in an Endogenous Money Macro Model 10. An Endogenous Money Macroeconomic Model 11. Summary and Conclusions References Index

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