In this fully revised and updated second edition of a well-regarded and popular text, Hans Visser includes recent developments in the world economy such as the rise of currency boards and the changing role of the IMF in solving currency crises.

In the aftermath of the debates between Keynesians and monetarists, this book provides a lucid, concise overview of the most recent developments in monetary theory. Professor Visser has written an up-to-date survey which discusses major issues such as crowding out, the new classical...