Review A Study in Monetary Macroeconomics

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A Study in Monetary Macroeconomics
By:Stefan Homburg
Published on 2017-07-04 by Oxford University Press

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.

This Book was ranked at 33 by Google Books for keyword Monetary economics.

Book ID of A Study in Monetary Macroeconomics's Books is kksrDwAAQBAJ, Book which was written byStefan Homburghave ETAG "5ool5AMpjoA"

Book which was published by Oxford University Press since 2017-07-04 have ISBNs, ISBN 13 Code is 9780192534552 and ISBN 10 Code is 0192534556

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Book which have "224 Pages" is Printed at BOOK under CategoryBusiness and Economics

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