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Money = theory and practice /

Cao, Jin.

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Money = theory and practice /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Money/ by Jin Cao, Gerhard Illing.
Reminder of title:	theory and practice /
Author:	Cao, Jin.
other author:	Illing, Gerhard.
Published:	Cham :Springer International Publishing : : 2019.,
Description:	xiv, 406 p. :ill., digital ;24 cm.
[NT 15003449]:	Money and Equilibrium in the Long Run: Long Run Growth - The Basic Framework -- Money and Long Run Growth -- Interaction Between Monetary and Fiscal Policy: Active and Passive Monetary Regimes -- Monetary Policy in the Short Run: New Keynesian Macroeconomics -- Optimal Monetary Policy -- Monetary Policy Under Uncertainty -- The Liquidity Trap: Limits for Monetary Policy at the Effective Lower Bound -- Unconventional Monetary Policy, Financial Frictions and Crises: Monetary Policy in Practice -- Financial Frictions and Monetary Policy -- Monetary Policy and Financial Stability.
Contained By:	Springer eBooks
Subject:	Money - Philosophy. -
Online resource:	https://doi.org/10.1007/978-3-030-19697-4
ISBN:	9783030196974

Money = theory and practice /
Cao, Jin.

Moneytheory and practice /[electronic resource] :by Jin Cao, Gerhard Illing. - Cham :Springer International Publishing :2019. - xiv, 406 p. :ill., digital ;24 cm. - Springer texts in business and economics,2192-4333. - Springer texts in business and economics..

Money and Equilibrium in the Long Run: Long Run Growth - The Basic Framework -- Money and Long Run Growth -- Interaction Between Monetary and Fiscal Policy: Active and Passive Monetary Regimes -- Monetary Policy in the Short Run: New Keynesian Macroeconomics -- Optimal Monetary Policy -- Monetary Policy Under Uncertainty -- The Liquidity Trap: Limits for Monetary Policy at the Effective Lower Bound -- Unconventional Monetary Policy, Financial Frictions and Crises: Monetary Policy in Practice -- Financial Frictions and Monetary Policy -- Monetary Policy and Financial Stability.

This textbook provides an introduction to modern monetary economics for advanced undergraduates, highlighting the lessons learned from the recent financial crisis. The book presents both the core New Keynesian model and recent advances, taking into account financial frictions, and discusses recent research on an intuitive level based on simple static and two-period models, but also prepares readers for an extension to a truly dynamic analysis. Further, it offers a systematic perspective on monetary policy, covering a wide range of models to help readers gain a better understanding of controversial issues. Part I examines the long-run perspective, addressing classical monetary policy issues such as determination of the price level and interaction between monetary and fiscal policy. Part II introduces the core New Keynesian model, characterizing optimal monetary policy to stabilize short-term shocks. It discusses rules vs. discretion and the challenges arising from control errors, imperfect information and robustness issues. It also analyzes optimal control in the presence of an effective lower bound. Part III focuses on modelling financial frictions. It identifies the transmission mechanisms of monetary policy via banking and introduces models with incomplete markets, principal-agent problems, maturity mismatch and leverage cycles, to show why investors' and intermediaries' own stakes play a key role in lending with pro-cyclical features. In addition, it presents a tractable model for handling liquidity management and demonstrates that the need to sell assets in crisis amplifies the volatility of the real economy. Lastly, the book discusses the relation between monetary policy and financial stability, addressing systemic risk and the role of macro-prudential regulation.

ISBN: 9783030196974

Standard No.: 10.1007/978-3-030-19697-4doiSubjects--Topical Terms:

583573
Money
--Philosophy.

LC Class. No.: HG220.3 / .C36 2019

Dewey Class. No.: 332.401

Money = theory and practice /
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245 1 0 $a Money $h [electronic resource] : $b theory and practice / $c by Jin Cao, Gerhard Illing.
260 $a Cham : $b Springer International Publishing : $b Imprint: Springer, $c 2019.
300 $a xiv, 406 p. : $b ill., digital ; $c 24 cm.
490 1 $a Springer texts in business and economics, $x 2192-4333
505 0 $a Money and Equilibrium in the Long Run: Long Run Growth - The Basic Framework -- Money and Long Run Growth -- Interaction Between Monetary and Fiscal Policy: Active and Passive Monetary Regimes -- Monetary Policy in the Short Run: New Keynesian Macroeconomics -- Optimal Monetary Policy -- Monetary Policy Under Uncertainty -- The Liquidity Trap: Limits for Monetary Policy at the Effective Lower Bound -- Unconventional Monetary Policy, Financial Frictions and Crises: Monetary Policy in Practice -- Financial Frictions and Monetary Policy -- Monetary Policy and Financial Stability.
520 $a This textbook provides an introduction to modern monetary economics for advanced undergraduates, highlighting the lessons learned from the recent financial crisis. The book presents both the core New Keynesian model and recent advances, taking into account financial frictions, and discusses recent research on an intuitive level based on simple static and two-period models, but also prepares readers for an extension to a truly dynamic analysis. Further, it offers a systematic perspective on monetary policy, covering a wide range of models to help readers gain a better understanding of controversial issues. Part I examines the long-run perspective, addressing classical monetary policy issues such as determination of the price level and interaction between monetary and fiscal policy. Part II introduces the core New Keynesian model, characterizing optimal monetary policy to stabilize short-term shocks. It discusses rules vs. discretion and the challenges arising from control errors, imperfect information and robustness issues. It also analyzes optimal control in the presence of an effective lower bound. Part III focuses on modelling financial frictions. It identifies the transmission mechanisms of monetary policy via banking and introduces models with incomplete markets, principal-agent problems, maturity mismatch and leverage cycles, to show why investors' and intermediaries' own stakes play a key role in lending with pro-cyclical features. In addition, it presents a tractable model for handling liquidity management and demonstrates that the need to sell assets in crisis amplifies the volatility of the real economy. Lastly, the book discusses the relation between monetary policy and financial stability, addressing systemic risk and the role of macro-prudential regulation.
650 0 $a Money $x Philosophy. $3 583573
650 1 4 $a Macroeconomics/Monetary Economics/Financial Economics. $3 2179654
650 2 4 $a Public Finance. $3 2181786
650 2 4 $a Economic Theory/Quantitative Economics/Mathematical Methods. $3 2162305
700 1 $a Illing, Gerhard. $3 882143
710 2 $a SpringerLink (Online service) $3 836513
773 0 $t Springer eBooks
830 0 $a Springer texts in business and economics. $3 1565849
856 4 0 $u https://doi.org/10.1007/978-3-030-19697-4
950 $a Economics and Finance (Springer-41170)