This work challenges traditional monetary theory by focusing on the role of banks and provides a new insight into the role played by bank money and capital accumulation. An international team of contributors reappraise analyses of the inflation and unemployment developed by Marshall, Keynes and Robertson. This volume is published in association with the Centre for the Study of Banking in Switzerland.
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Introduction Alvaro Cencini and Mauro Baranzini . Part I: Inflation and unemployment: a monetary and structural framework for analysis 1. Inflation and deflation, the two faces of the same reality Alvaro Cencini 2. Structural change, economic growth and unemployment in a vertically integrated model Mauro Baranzini Part II: Inflation and deflation as monetary pathologies 3. Unemployment, is there a principle cause? Bernard Schmitt 4. From Keynes to the modern analysis of inflation Xavier Bradley, Jean-Jacques Friboulet and Claude Gnos Part III: Learning from the past 5. The Marx Hayek cycle and the demise of official Keynesianism Meghand Desai 6. Unemployment and price stability, aspects of the marshallian legacy on the monetary economy Peter Groenewegen Bibliography. Author index. . Subject index.