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Towards a new paradigm in monetary economics /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Towards a new paradigm in monetary economics // Joseph Stiglitz and Bruce Greenwald.
Author:	Stiglitz, Joseph E.,
other author:	Greenwald, Bruce C.,
Description:	1 online resource (xv, 327 pages) :digital, PDF file(s). :
Notes:	Title from publisher's bibliographic system (viewed on 05 Oct 2015).
Subject:	Money. -
Online resource:	https://doi.org/10.1017/CBO9780511615207
ISBN:	9780511615207 (ebook)

Towards a new paradigm in monetary economics /
Stiglitz, Joseph E.,

Towards a new paradigm in monetary economics /Joseph Stiglitz and Bruce Greenwald. - 1 online resource (xv, 327 pages) :digital, PDF file(s). - Raffaele Mattioli lectures. - Raffaele Mattioli lectures..

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Towards a New Paradigm for Monetary Economics presents a pioneer treatment of critical topics in monetary economics. Unlike the prevailing monetary theory, this book focuses not on the role of money in facilitating transactions, but on the role of credit in facilitating economic activities more broadly. The 'new paradigm' emphasizes the demand and supply of loanable funds, which in turn requires the understanding of the imperfections of information and the role of banks. One enlightening view is that credit is quite different from other commodities in the sense that the former is based on information and default risk. The book consists of two parts. The first part develops a basic model of credit based on banks' portfolio choices. The second part is dedicated to the policy implications, among which are the liberalization of financial markets, the East Asian Crisis, the 1991 US recession and the subsequent recovery.

ISBN: 9780511615207 (ebook)Subjects--Topical Terms:

556376
Money.

LC Class. No.: HG226.3 / .S85 2003

Dewey Class. No.: 332.4

Towards a new paradigm in monetary economics /
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245 1 0 $a Towards a new paradigm in monetary economics / $c Joseph Stiglitz and Bruce Greenwald.
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500 $a Title from publisher's bibliographic system (viewed on 05 Oct 2015).
520 $a Towards a New Paradigm for Monetary Economics presents a pioneer treatment of critical topics in monetary economics. Unlike the prevailing monetary theory, this book focuses not on the role of money in facilitating transactions, but on the role of credit in facilitating economic activities more broadly. The 'new paradigm' emphasizes the demand and supply of loanable funds, which in turn requires the understanding of the imperfections of information and the role of banks. One enlightening view is that credit is quite different from other commodities in the sense that the former is based on information and default risk. The book consists of two parts. The first part develops a basic model of credit based on banks' portfolio choices. The second part is dedicated to the policy implications, among which are the liberalization of financial markets, the East Asian Crisis, the 1991 US recession and the subsequent recovery.
650 0 $a Money. $3 556376
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