Keynes on Monetary Policy, Finance and Uncertainty: Liquidity Preference Theory and the Global Financial Crisis

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2009-08-13
  • Publisher: Routledge
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This book sets out to present Keynes' liquidity preference theory as a distinctive and highly relevant approach to monetary theory which offers and analytical framework for explaining the working of the financial system. It can be seen, therefore, as much more than a mere theory of interest. Jorg Bibow illustrates how Keynes' methodology inspired his economic theorizing and how this led to fundamental insights concerning the role of money that contrasted with orthodox closed-system modeling.

Table of Contents

1. Introduction and Overview 2. Keynes's 'Finance Motive' for the Demand for Money 3. The Loanable Funds Fallacy 4. Keynesian Theories of Liquidity Preference 5. Exogenous Money and Bank Behaviour 6. Central Banking and the Structure of Monetary Policy 7. The Markets versus the European Central Bank

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