Monetary theory and policy from Hume and Smith to Wicksell : money, credit, and the economy / Arie Arnon
Material type:
TextPublication details: Cambridge : Cambridge University Press, 2011Description: xxii, 425p. 23cmISBN: - 9780521191135
- 339.53 ARN
| Item type | Current library | Call number | Status | Date due | Barcode | Item holds | |
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Book
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Calcutta | 339.53 ARN (Browse shelf(Opens below)) | Available | IIMC-132807 |
This book provides a comprehensive survey of the major developments in monetary theory and policy from David Hume and Adam Smith to Walter Bagehot and Knut Wicksell. The book investigates how major monetary theorists understood the roles of the invisible and visible hands in money, credit, and banking; what they thought about rules and discretion and the role played by commodity-money in their conceptualizations; whether or not they distinguished between the two different roles carried out via the financial system - making payments efficiently within the exchange process and facilitating intermediation in the capital market; how they perceived the influence of the monetary system on macroeconomic aggregates such as the price level, output, and accumulation of wealth; and finally, what they thought about monetary policy.
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