MODERN MONETARY THEORY

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MODERN MONETARY THEORY

A Critical Survey of Recent Developments

9781852788476 Edward Elgar Publishing
Hans Visser, Professor Emeritus of Money and Banking and International Economics, School of Business and Economics, Vrije Universiteit Amsterdam, the Netherlands
Publication Date: 1993 ISBN: 978 1 85278 847 6 Extent: 224 pp
In the aftermath of the debates between Keynesians and monetarists, this book provides a lucid, concise overview of the most recent developments in monetary theory. Professor Visser has written an up-to-date survey which discusses major issues such as crowding out, the new classical macroeconomics, the breakdown of the stable money demand function, buffer stocks and currency substitution.

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In the aftermath of the debates between Keynesians and monetarists, this book provides a lucid, concise overview of the most recent developments in monetary theory. Professor Visser has written an up-to-date survey which discusses major issues such as crowding out, the new classical macroeconomics, the breakdown of the stable money demand function, buffer stocks and currency substitution.

Currency problems in general have come to the fore after the collapse of the Bretton-Woods system. The book addresses topical issues including Hayek''s proposal to denationalize money as well as theoretical issues, such as the search for the microfoundations of monetary theory. This is an important, up-to-date survey of recent developments in monetary theory, and the economic reasoning which underlies it. The use of mathematics has been kept to a minimum.
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