A comprehensive overview of advanced monetary economics, integrating the presentation of monetary theory with empirical formulations and their empirical tests. Unlike most texts this book brings together in a single unified source the core areas of monetary economics. Key features include:
* cross-country comparison of central banking in the US, UK and developing countries
* theories and empirical studies on money demand, including precautionary and buffer stock models and monetary aggregation
* detailed comparison of Keynesian and modern classical macroeconomic theoretical and policy models
* a focus on the role of money and financial institutions and growth.
Part I: Introduction and Heritage Part II: Money in the Economy Part III: The Demand for Money Part IV: Money Supply and Central Banking Part V: Money in the Macroeconomy Part VI: Money in the Open Economy Part VII: The Rates of Interest in the Economy Part VIII: Overlapping Generations Models of Money Part IX: Money and Financial Institutions in Growth Economy