Monetary Macroeconomics: A New Approach

ISBN-13: 9780415195690 / Angielski / Twarda / 2001 / 240 str.

Alvaro Cencini;Cencini Alvaro

Opis

This work provides a new approach to monetary economics, based on the book-keeping nature of money. The main themes of macroeconomics are examined to show how we may improve our understanding through a thorough analysis of their monetary aspects. Money is the key element and its role is investigated in relation to value, prices, profits, capital and interest. Alvaro Cencini's analysis rejects the traditional, net asset definition of money, arguing that despite appearances to the contrary, money is issued by banks as a mere numerical form. It is through its association with production that it is given its positive value, purchasing power. The resulting theory elicits a new understanding of the conditions behind today's monetary disorders and prescribes new remedies to cure them once and for all.

Spis treści

Chapter One: Money, Value and Prices The problem; Money and value; Money and relative prices; Money as a pure numerical form; Money, value and absolute prices Chapter Two: Money and Exchange Money and relative exchange; General equilibrium models of monetary economics; A fundamental critique to GEA; Money and absolute exchange Chapter Three: Money, Credit and Banks Money and credit; Money and banks; Credit and banks Chapter Four: Money and Production Production as a circular flow; Production as a one-way process; Production as a process of creation and exchange Chapter Five: Money and Capital Labour, time and capital; The neoclassical approach to capital; Income, capital and time Chapter Six: Money, Capital and Interest Interest, exchange and credit; Interest, income and production; Interest and fixed capital Chapter Seven: Order Versus Disorder The neoclassical approach to economic disorder; The classical analysis of monetary disorder and recession; Keynes' contribution revisited; Unemployment, capital accumulation and interest rates

O autorze

Alvaro Cencini is Professor of Monetary Theory and Monetary Economics at the Università della Svizzera Italiana and at the Centre for Banking Studies, Lugano, Switzerland. He is also the founder and co-director of the Laboratory of Research in Monetary Economics. His previous publications include Monetary Theory: National and International (Routledge 1995) and Inflation and Unemployment, with M. Baranzini, eds. (Routledge 1996).