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Money: in Disequilibrium

Money: in Disequilibrium


Part of Cambridge Economic Handbooks

  • Date Published: March 1985
  • availability: Available
  • format: Paperback
  • isbn: 9780521269179

£ 27.99

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About the Authors
  • This 1983 book is a wide-ranging study of the macroeconomic side of monetary theory. Traditional macroeconomics uses simple, aggregative models to analyse monetary and fiscal policy. Gale argues that we cannot do without it but also that it rarely attains the standards of rigour required of modern theory. This book can be seen as an attempt to do it properly. The early chapters are critical and reconstructive. They take a fresh look at standard topics such as wealth effects, money and growth and the long-run effects of monetary and fiscal policy. Later chapters develop different themes. The questions raised are drawn from traditional macroeconomics but there are plenty of surprises. The conventional view is frequently turned on its head or shown to be unsatisfactory or not robust. This and other exciting ideas enliven a book which will continue to be of interest to students and theorists alike.

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    Product details

    • Date Published: March 1985
    • format: Paperback
    • isbn: 9780521269179
    • length: 382 pages
    • dimensions: 216 x 140 x 22 mm
    • weight: 0.49kg
    • availability: Available
  • Table of Contents

    Part I
    Section 1. Disequilibrium Theory
    Section 2. Wealth Effects
    Part II
    Section 1. Money and Growth
    Section 2. An Exact, Transaction-Cost-Based Model of a Monetary Economy
    Part III
    Section 1. Investment and Saving
    Section 2. Expectations and the Crowding-Out Effect
    Part IV
    Section 1. Liquidity-Constrained Equilibria
    Section 2. Further Results on Liquidity-Constrained Equilibria
    Part V. A 'Competitive' Theory of Unemployment
    Part VI. The Balance of Payments
    Mathematical appendix
    Bibliographical notes

  • Author

    Douglas Gale

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