Towards a New Paradigm in Monetary Economics - Couverture souple

Stiglitz, Joseph

Couverture souple

ISBN 10 : 0521008050 ISBN 13 : 9780521008051

Editeur : Cambridge University Press, 2009

Synopsis

Towards a New Paradigm for Monetary Economics presents a pioneer treatment of critical topics in monetary economics. Unlike the prevailing monetary theory, this book focuses not on the role of money in facilitating transactions, but on the role of credit in facilitating economic activities more broadly. The 'new paradigm' emphasizes the demand and supply of loanable funds, which in turn requires the understanding of the imperfections of information and the role of banks. One enlightening view is that credit is quite different from other commodities in the sense that the former is based on information and default risk. The book consists of two parts. The first part develops a basic model of credit based on banks' portfolio choices. The second part is dedicated to the policy implications, among which are the liberalization of financial markets, the East Asian Crisis, the 1991 US recession and the subsequent recovery.

A propos du livre

À propos des auteurs

Professor of Economics, Stanford University and Senior Research Fellow of Brookings Institution. Formerly Senior Vice President and Chief Economist at World Bank.

Professor of Finance, Columbia Business School.

Détails de l'édition

• Éditeur: Cambridge University Press
• Date d'édition: 2009
• Langue: anglais
• ISBN 10: 0521008050
• ISBN 13: 9780521008051
• Reliure: Broché
• Nombre de pages: 344
• Coordonnées du fabricant: non disponible
• Personne responsable: Avery; https://www.avery.fr/; ; chemin des peupliers 27; Dardilly; France