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Joseph Stiglitz

Towards a New Paradigm in Monetary Economics (Raffaele Mattioli Lectures)

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ISBN: 0521810345, 9780521810340
Издательство: Cambridge University Press
Год издания: 2003
Book DescriptionA pioneer treatment of monetary economics written by two of world's leading authorities.Download DescriptionExpanding upon the literature of new institutional economics, the first part of this study stresses the significance of imperfections in information, bankruptcy and banks. The second part examines the policy implications of the new paradigm emphasizing loanable fund demand and supply, and demonstrates its relevance to our understanding of two recent historical episodes--the East Asian financial crisis and the 1991 U.S. recession and subsequent recovery and boom.