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  2. Makroøkonomi
  3. Monetær økonomi

A Study in Monetary Macroeconomics

Af: Stefan Homburg Engelsk Hardback

A Study in Monetary Macroeconomics

Af: Stefan Homburg Engelsk Hardback
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The financial crisis of 2007 and the following recession present a major challenge to macroeconomic theory. The same holds true for exceptionally low interest rates during the recent years and for the puzzle that super-expansive monetary policies failed to produce high inflation. Approaches that focus on steady states, rational expectations, and individuals planning over infinite horizons, are not suitable for analysing such abnormal situations. A Study in Monetary Macroeconomics refines and improves mainstream approaches to resolve these puzzles and to contribute to a better understanding of monetary and fiscal policies.Using a rich institutional structure that includes features such as credit money, external finance, borrowing constraints, net worth, real estate and commercial banks, this timely study reduces rationality requirements to cope with its complex setting. It starts with a simple baseline model, deriving results from mathematical reasoning and simulations whilst adhering to the method of dynamic general equilibrium (DGE) with optimizing agents and fully specified models. Highly topical, A Study in Monetary Macroeconomics uses a unified theoretical framework to demonstrate that a DGE approach makes it possible to develop clean models that work outside steady states and are appropriate for answering macroeconomic questions of actual interest.
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The financial crisis of 2007 and the following recession present a major challenge to macroeconomic theory. The same holds true for exceptionally low interest rates during the recent years and for the puzzle that super-expansive monetary policies failed to produce high inflation. Approaches that focus on steady states, rational expectations, and individuals planning over infinite horizons, are not suitable for analysing such abnormal situations. A Study in Monetary Macroeconomics refines and improves mainstream approaches to resolve these puzzles and to contribute to a better understanding of monetary and fiscal policies.Using a rich institutional structure that includes features such as credit money, external finance, borrowing constraints, net worth, real estate and commercial banks, this timely study reduces rationality requirements to cope with its complex setting. It starts with a simple baseline model, deriving results from mathematical reasoning and simulations whilst adhering to the method of dynamic general equilibrium (DGE) with optimizing agents and fully specified models. Highly topical, A Study in Monetary Macroeconomics uses a unified theoretical framework to demonstrate that a DGE approach makes it possible to develop clean models that work outside steady states and are appropriate for answering macroeconomic questions of actual interest.
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Se mere i:
Produktdetaljer
Sprog: Engelsk
Sider: 218
ISBN-13: 9780198807537
Indbinding: Hardback
Udgave:
ISBN-10: 0198807538
Kategori: Monetær økonomi
Udg. Dato: 13 jul 2017
Længde: 19mm
Bredde: 241mm
Højde: 185mm
Forlag: Oxford University Press
Oplagsdato: 13 jul 2017
Forfatter(e): Stefan Homburg
Forfatter(e) Stefan Homburg

Kategori Monetær økonomi

ISBN-13 9780198807537

Sprog Engelsk

Indbinding Hardback

Sider 218

Udgave

Længde 19mm

Bredde 241mm

Højde 185mm

Udg. Dato 13 jul 2017

Oplagsdato 13 jul 2017

Forlag Oxford University Press

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