By Alvaro Cencini
ISBN-10: 0203210840
ISBN-13: 9780203210840
ISBN-10: 0415195691
ISBN-13: 9780415195690
ISBN-10: 0585453624
ISBN-13: 9780585453620
This publication offers the grounding for a brand new method of financial economics, in response to the book-keeping nature of cash. the most issues of macroeconomics are tested to teach how we could increase our figuring out via an intensive research in their financial features. funds is the foremost point and its function is investigated on the subject of price, costs, earnings, capital and curiosity. Alvaro Cencini's research rejects the normal, internet asset definition of cash, arguing that regardless of appearances on the contrary, cash is issued by way of banks as an insignificant numerical shape. it's via its organization with construction that it truly is given its confident worth, buying strength. The ensuing concept elicits a brand new knowing of the stipulations at the back of modern financial issues and prescribes new treatments to medication them as soon as and for all.
Read or Download Monetary Macroeconomics: A New Approach (Routledge International Studies in Money and Banking, 15) PDF
Best money & monetary policy books
Eckhard Hein, Achim Truger's Money, Distribution and Economic Policy: Alternatives to PDF
Cash, Distribution and monetary coverage takes factor with the beside the point remedy of cash, powerful call for and distribution concerns in smooth mainstream macroeconomics. It provides contributions that are severe of recent orthodoxy and which discover replacement techniques to macroeconomics and financial coverage research.
Hoping on new statistical and archival fabric, this booklet tells the tale of the operation of the foreign financial method of the mid-nineteenth century. It seeks to give an explanation for how the program used to be in a position to climate the influence of the California and Australia gold discoveries.
- Offshore Money Book, The : How to Move Assets Offshore for Privacy, Protection, and Tax Advantage
- European Monetary Integration 1970–79: British and French Experiences
- The Euro: How a Common Currency Threatens the Future of Europe
- Money, Banking, and the Business Cycle: Volume Two Remedies and Alternative Theories
Additional info for Monetary Macroeconomics: A New Approach (Routledge International Studies in Money and Banking, 15)
Example text
As the word numéraire so well indicates, the standard must essentially be a numerical one. : 188), he is telling us both that value as a substance does not exist and that money itself, as a standard, is lacking any proper value. But if we abstract from any intrinsic value of money, we are left with numbers only: the numéraire in its purest form. Unfortunately, Walras does not provide any satisfactory solution to the problem of integrating pure numbers with produced output. Have the attempts of his followers been more fruitful?
The debts of the bank to the public – are always covered by the assets people have offered to the bank in exchange for deposit claims against the bank’ (Sayers 1958: 12). The annoying implication of this claim is that money creation seems to derive from an exchange whose terms cannot be logically determined. Unless we assume that the real assets deposited by the public already have a monetary value (which obviously begs the question since money creation cannot be explained by referring to a process that requires the pre-existence of money), we would have no logical way of establishing any objective relationship between real and monetary deposits.
Almost immediately, Hicks shifts his interest from value to the problem of measuring goods in real (non-monetary) terms, and seems to suggest that measuring goods in value or real terms amounts to the same thing as, in both cases, they are valued at constant prices. : 152). However, since in neoclassical theory money is a standard chosen among real goods, the money value of output is determined as an equilibrium (relative) price resulting from the simultaneous solution of a general equilibrium system (GES).
Monetary Macroeconomics: A New Approach (Routledge International Studies in Money and Banking, 15) by Alvaro Cencini
by Charles
4.0