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Monetary Theory and Policy, Third Edition

Walsh, Carl E. - The MIT Press

primary models monetary economists have employed to address topics in theory and policy. It covers the basic theoretical … reflect the dominance of the new Keynesian approach. Monetary Theory and Policy continues to be the only comprehensive and up …

Persistent link: https://www.econbiz.de/10008632722

Money, Payments, and Liquidity

Nosal, Ed; Rocheteau, Guillaume - The MIT Press

In Money, Payments, and Liquidity, Ed Nosal and Guillaume Rocheteau provide a comprehensive investigation into the economics of money and payments by explicitly modeling trading frictions between agents. Adopting the search-theoretic approach pioneered by Nobuhiro Kiyotaki and Randall Wright,...

Persistent link: https://www.econbiz.de/10010535233

Committee Decisions on Monetary Policy: Evidence from Historical Records of the Federal Open Market Committee

Henry W. Chappell, Jr.; McGregor, Rob Roy; Vermilyea, … - The MIT Press

In many countries, monetary policy decisions are made by committees. In the United States, these decisions are made by the Federal Reserve's Federal Open Market Committee (FOMC), which consists of the seven members of the Board of Governors and the presidents of the twelve district banks. This...

Persistent link: https://www.econbiz.de/10004973158

Central Bank Strategy, Credibility, and Independence: Theory and Evidence

Cukierman, Alex - The MIT Press

Alex Cukierman is well known for his work on central bank behavior. This book brings together a large body of Cukierman's research and integrates it with recent developments in the political economy of monetary policy. Filled with applications and carefully worked out technical detail, it...

Persistent link: https://www.econbiz.de/10005034465

Inside the Fed: Monetary Policy and Its Management, Martin through Greenspan to Bernanke

Axilrod, Stephen H. - The MIT Press

Stephen Axilrod is the ultimate Federal Reserve insider. He worked at the Fed’s Board of Governors for more than thirty years and after that in private markets and as a consultant on monetary policy. With Inside the Fed, he offers his unique perspective on the inner workings of the Federal...

Persistent link: https://www.econbiz.de/10008919694

The Collected Papers of Franco Modigliani, Volume 6

Modigliani, Franco - The MIT Press

revisits the topic of the general theory of employment, interest, and money and its implications for mass unemployment sixty …

Persistent link: https://www.econbiz.de/10004973269

The Informational Role of Prices

Grossman, Sanford - The MIT Press

Over the past decade, Sanford Grossman's contributions to the economics of information have significantly altered the way economists think about rational expectations. Here his articles are collected in one place, providing a uniform framework for understanding how prices convey information in...

Persistent link: https://www.econbiz.de/10005233406

Market Volatility

Shiller, Robert J. - The MIT Press

Market Volatility proposes an innovative theory, backed by substantial statistical evidence, on the causes of price …

Persistent link: https://www.econbiz.de/10005756517

Exchange Rate Economics: Where Do We Stand?

Grauwe, Paul De (contributor) - The MIT Press

Recent theoretical developments in exchange rate economics have led to important new insights into the functioning of the foreign exchange market. The simple models of the 1970s, which could not withstand empirical evaluation, have been succeeded by more complex models that draw on theoretical...

Persistent link: https://www.econbiz.de/10004973063

Assessing Rational Expectations: Sunspot Multiplicity and Economic Fluctuations

Guesnerie, Roger - The MIT Press

implications for a theory of endogenous fluctuations. The REH, which dominates the economic modeling of expectations in most fields … of formalized economic theory, is often associated with an optimistic view of the working of the markets--a view that … equilibria (cycles) and stochastic equilibria (sunspots). (A sunspot is a random shock uncorrelated with underlying economic …

Persistent link: https://www.econbiz.de/10004973203