New Approaches to Monetary Economics: Proceedings of the Second International Symposium in Economic Theory and Econometrics

by Edited by William A. Barnett , Kenneth J. Singleton

• ISBN13: 9780521100496
• ISBN10: 0521100496
• Edition: 1st
• Format: Paperback
• Copyright: 2009-01-18
• Publisher: Cambridge University Press

Summary

New Approaches to Monetary Economics brings together presentations of innovative research in the field of monetary economics. Much of this research develops and applies approaches to modelling financial intermediation, aggregate fluctuations, monetary aggregation and transactions-motivated monetary equilibrium. The contents of this volume comprise the proceedings of the second in a conference series entitled International Symposia in Economic Theory and Econometrics. This conference was held in 1985 at the IC2 Institute at the University of Texas at Austin. The symposia in this series are sponsored by the IC2 Institute and the RGK Foundation. New Approaches to Monetary Economics, edited by Professors William A. Barnett and Kenneth J. Singleton, consists of five parts. Part I examines transactions-motivated monetary holding in general equilibrium; Part II, financial intermediation; Part III, monetary aggregation theory, Part IV, issues in aggregate fluctuation; and Part V, theoretical issues in the foundations of monetary economics and macroeconomics.

Table of Contents

Editors' introduction

List of contributors

Transactions motivated monetary holdings in general equilibrium

Monetary dynamics with proportional transaction costs and fixed payment periods

A multiple means-of-payment model

Credit policy and the price level in a cash-in-advance economy

Financial Intermediation

Preference shocks, liquidity and central bank policy

Banking and macroeconomic equilibrium

Monetary aggregation theory

The microeconomic theory of monetary aggregation

Monetary asset separability tests

Money demand in open economies: a Divisia application to the U.S. case

Aggregation of monetary goods: a production model

Money in the utility function: an empirical implementation

Comment on papers in Part III

Issues on aggregate fluctuations

Theoretical issues in the foundations of monetary economics and macroeconomics

Pricing and the distribution of money holdings in a search economy, II

The optimal inflation rate in an overlapping-generations economy with land

Some unsolved problems for monetary theory

Externalities associated with nominal price and wage rigidities

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