Description
Book SynopsisThis study explores the critical role of assets in economic analysis, emphasizing the asset pricing process and its connections to broader economic phenomena. Traditional economic approaches have often prioritized flow dynamics over stock considerations, but the rising interest in economic growth and capital theory has highlighted the need for a balanced perspective. The book argues that asset markets, far from being peripheral, play a central role in determining general equilibrium conditions. By integrating stock and flow dynamics, the analysis seeks to provide a comprehensive framework for understanding asset price determination and its implications for monetary and fiscal policies, although it remains primarily theoretical and abstract in its approach. The work, rooted in the author's doctoral dissertation, reflects rigorous academic inquiry supported by notable economists and institutions. The study benefits from the guidance of Professor Earl R. Rolph and other distinguished s
