Description
Book SynopsisMonetarism has had a major impact on the thinking of political leaders and the conduct of economic policy during the last decade. These two volumes trace the origin and development of monetarism from the work of David Hume and Irving Fisher through to the very recent research by eminent contemporary economists including among others Milton Friedman, Robert Lucas, Rudiger Dornbusch and Thomas Sargent. Wide-ranging and comprehensive in scope, the book covers both the theoretical and empirical aspects of monetarism as well as its implications for economic policy.
Table of ContentsPart I: Historical Origins 1. D. Hume (1955), 'Of Money' and 'Of the Balance of Trade'. 2. K. Wicksell (1907), 'The Influence of the Rate of Interest on Prices'. 3. E. Eshag (1963), 'The Internal Value of Money: Review of Marshall's Work'. 4. I. Fisher (1986), 'Money Interest and Real Interest'. 5. J M Keynes (1960), 'The Psychological and Business Incentives to Liquidity'. 6. T. H. Humphrey (1974), ' The Quantity Theory of Money: Its Historical Evolution and Role in Policy Debates'. 7. C. Warburton (1949), 'The Secular Trend in Monetary Velocity'. Part II: Money Demand - Theory 8. J. Tobin (1958), 'Liquidity Preference as Behavior Towards Risk'. 9. G. C. Archibald and R. G. Lipsey (1958), 'Monetary and Value Theory: A Critique of Lange and Patinkin'. 10. D. Laidler (1984), 'The "Buffer Stock" Notion in Monetary Economics'. Part III: Money Demand - Evidence 11. M. Bronfenbrenner and T. Mayer (1960), 'Liquidity Functions in the American Economy'. 12. A. H. Meltzer (1963), 'The Demand for Money: The Evidence from the Time Series'. 13. G.C. Chow (1966), 'On the Long-Run and Short-Run Demand for Money'. 14. S.M. Goldfeld (1973), ' The Demand for Money Revisited'. 15. R.E. Lucas Jr. (1988), 'Money Demand in the United States: A Quantitative Review'. Part IV: Money Supply 16. A. H. Meltzer (1969), 'Controlling Money'. 17. A.E. Burger, L. Kalish and C.T. Babb (1971), 'Money Stock Control and Its Implications for Monetary Policy'. 18. J.M. Johannes and R.H.Rasche (1979), 'Predicting the Money Multiplier'. 19. J.M. Johannes and R.H. Rasche (1981), 'Can the Reserves Approach to Monetary Control Really Work ?'. Volume II Part I: Money and Business Cycles 1. M.Friedman and A.J. Schwartz (1963), 'Money and Business Cycles'. 2. L.C. Andersen and J.L. Jordan (1968), 'Monetary and Fiscal Actions: A Test of Their Relative Importance in Economic Stabilization'. 3. R.J. Barro (1977), 'Unanticipated Money Growth and Unemployment in the United States'. Part II: Money and Inflation 4. P. Cagan (1956), 'The Monetary Dynamics of Hyperinflation'. 5. T.J. Sargent (1986), 'The Ends of Four Big Inflations'. 6. R. E. Lucas Jr. (1980), 'Two Illustrations of the Quantity Theory of Money'. 7. A.J. Schwartz (1973), 'Secular Price Change in Historical Perspective'. 8. T.J. Sargent and N. Wallace (1985), 'Some Unpleasant Monetarist Arithmetic'. Part III: Open Economy Monetarism 9. H.G. Johnson (1976), 'The Monetary Approach to Balance-of-Payments Theory'. 10. R. Dornbusch (1976), 'The Theory of Flexible Exchange Rate Regimes and Macroeconomic Policy'. 11. R.I. McKinnon (1982), 'Currency Substitution and Instability in the World Dollar Standard'. Part IV: Monetarism and Economic Policy 12. M. Friedman (1960), 'The Goals and Criteria of Monetary Policy'. 13. M. Friedman (1968), 'The Role of Monetary Policy'. 14. K Brunner (1968), 'The Role of Money and Monetary Policy'. 15. T. Mayer (1968), 'The Problem of Lags'. 16. M. Goodfriend (1986), 'Monetary Mystique: Secrecy and Central Banking'. 17. A Cukierman (1986), 'Central Bank Behavior and Credibility: Some Recent Theoretical Developments'.
