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Monetary Theory from a Chinese Historical Perspective

Xueyi, Zheng - 2010

We discuss monetary thought in ancient China from the perspective of Western monetary theory. It sets out the structure … of economic activity in the various dynasties of ancient China and emphasizes the differences in monetary structure from … Europe (and later North America). Imperial China was a politically integrated structure with regional segmentation of …

Persistent link: https://www.econbiz.de/10012462563

A theoretical framework for monetary analysis

Friedman, Milton - 1971

Persistent link: https://www.econbiz.de/10000615769

Recent Developments in Monetary Policy Analysis : The Roles of Theory and Evidence

McCallum, Bennett T. - 1999

Both academic thinking about monetary economics and the practice of monetary policy have changed dramatically since 1971-1973, when the rational expectations revolution was beginning and the Bretton Woods system was crumbling. The present paper considers whether the various changes that have...

Persistent link: https://www.econbiz.de/10012471709

Optimal Monetary Growth

Abel, Andrew B. - 1987

In the absence of monetary superneutrality, inflation affects capital accumulation and the demand for real balances. This paper derives the combination of monetary and lump-sum fiscal policy which maximizes the sum of discounted utilities of representative consumers in present and future...

Persistent link: https://www.econbiz.de/10012476933

Supply Shocks and Optimal Monetary Policy

Turnovsky, Stephen J. - 1986

This paper demonstrates that if current shocks are observed instantaneously, output can be stabilized perfectly for completely general supply disturbances, using simple monetary rules based only on: (i) the current shock, (ii) the previous forecast of the current shock, (iii) the forecast for...

Persistent link: https://www.econbiz.de/10012477084

Inside Money and Monetary Neutrality

Hartley, Peter R. - 1986

This paper examines the interaction between the financial and real sectors of the economy within the framework of a stochastic, rational expectation model that distinguishes between inside and outside money. The model also can be used to study the impact of variations in the degree of...

Persistent link: https://www.econbiz.de/10012477185

Sticky Prices, Money and Business Fluctuations

King, Robert G. - 1983

Can nominal contracts make a difference for the neutrality of money if these arise endogenously in general equilibrium? This paper utilizes aversion of Lucas's seminal equilibrium business cycle theory to address this question. However, we depart from Lucas in assuming that (1) agents have...

Persistent link: https://www.econbiz.de/10012477883

The Implications of an Endogenous Money Supply for Monetary Neutrality

King, Robert G. - 1983

This paper examines the implications of an endogenous money supply for the perceived(by econometricians) and actual nonneutrality of money in rational expectations models of the class put forward by Lucas (1972, 1973) and Barro(1976, 1980) that stress incomplete information. First,if there is...

Persistent link: https://www.econbiz.de/10012477924

The Role of Overlapping-Generations Models in Monetary Economics

McCallum, Bennett T. - 1982

The main arguments of this paper can be summarized as follows. (1) The overlapping-generations (OG) structure provides a useful framework for the analysis of macroeconomic issues involving intertemporal allocation. (2) As a "model of money," the basic OG setup -- which excludes cash-in-advance...

Persistent link: https://www.econbiz.de/10012478116

A Framework for Monetary and Banking Analysis

Fischer, Stanley - 1982

The paper sets out and analyzes a simple model of money, banking, and price level determination. The model is first used to illustrate recent developments in the theory and analysis of banking, particularly the distinction between the portfolio management services provided by banks and their...

Persistent link: https://www.econbiz.de/10012478171

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