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Books > Business & Economics > Economics > Macroeconomics

The New Case for Gold (Hardcover): James Rickards The New Case for Gold (Hardcover)
James Rickards 1
R300 R203 Discovery Miles 2 030 Save R97 (32%) Shipped within 7 - 12 working days

In The New Case for Gold, James Rickards explains why gold is one of the safest assets for investors in times of political instability and market volatility, and how every investor should look to add gold to his or her portfolio. Drawing on historical case studies, monetary theory and his personal experience as an investor, Rickards argues that gold should be a part of any prudent investor's portfolio.

Handbook of the International Political Economy of Monetary Relations (Paperback): Thomas H. Oatley, W. Kindred Winecoff Handbook of the International Political Economy of Monetary Relations (Paperback)
Thomas H. Oatley, W. Kindred Winecoff
R903 Discovery Miles 9 030 Shipped within 7 - 12 working days

This extensive Handbook provides an in-depth exploration of the political economy dynamics associated with the international monetary and financial systems. Leading experts offer a fresh take on research into the interaction between system structure, the self-interest of private firms, the political institutions within which governments make policy, and the ideas that influence beliefs about appropriate policy responses. Crucially they also assess how these factors have shaped the political economy of various facets of monetary and financial systems. Organized into four comprehensive sections, the Handbook begins with a focus on the international system and explores how the distribution of power in the system shapes its structure and dynamics. The next section then considers the politics of exchange rate regime choice before analyzing current research on financial crises and financial regulation. Key questions are asked, such as: what drives financial crises and why do some economies suffer banking and currency crises while others do not? How does politics shape the central characteristics of the IMF's approach to crisis management? And how does change in the distribution of power in the international system change the structure of the global monetary and financial systems? The Handbook addresses these concerns and concludes with an examination of international governance, including the IMF and institutional reform in the post-crisis eurozone. This detailed Handbook brings together original contributions from some of the leading authorities in the field, making it an invaluable resource to academics and students of international relations, governance, and political economy.

The Exploration of Macroeconomics, International Edition (Paperback, 6th edition): Robert Sexton The Exploration of Macroeconomics, International Edition (Paperback, 6th edition)
Robert Sexton
R969 R819 Discovery Miles 8 190 Save R150 (15%) Shipped within 8 - 13 working days

THE EXPLORATION OF MACROECONOMICS, 6E, International Edition was designed specifically to promote economic literacy and help you appreciate how economics affects your everyday life. This engaging text combines innovative learning tools, a visually appealing design, and captivating content to help you easily absorb information and master key concepts. Packed with examples from current events and pop culture, THE EXPLORATION OF MACROECONOMICS, 6E, International Edition succeeds like no other book in conveying the excitement and real-world relevance of economics.

Reinventing Capitalism in the Age of Big Data (Paperback): Viktor Mayer-Schonberger, Thomas Ramge Reinventing Capitalism in the Age of Big Data (Paperback)
Viktor Mayer-Schonberger, Thomas Ramge 1
R349 R214 Discovery Miles 2 140 Save R135 (39%) Shipped within 7 - 12 working days

Markets have long been acknowledged to be a superior mechanism for managing resources but until the advent of big data, they largely functioned better in theory than in practice. Now, as ideal markets are within reach because of vastly greater access to information, we are on the verge of a major disruption. As data becomes a more valuable asset than cash, the rules for surviving and thriving are changing. Reinventing Capitalism is a provocative look at how data is reinventing markets and, in so doing, is ushering in an era where the firm is no longer predominant. With richer and more comprehensive information about human wants and needs, an economy powered by data offers the possibility of increased abundance, equality, and resilience. The data-driven markets that will thrive in this environment are far better than firms at organizing human endeavors, meaning that finance driven capitalism is being displaced by its more efficient, moresustainable, and more democratic disruptor: data capitalism.

The Challenge of Economic Rebalancing in Europe - Perspectives for Cesee Countries (Hardcover): Ewald Nowotny, Doris... The Challenge of Economic Rebalancing in Europe - Perspectives for Cesee Countries (Hardcover)
Ewald Nowotny, Doris Ritzberger-Grunwal, Helene Schuberth
R2,183 Discovery Miles 21 830 Shipped within 7 - 12 working days

In the long aftermath of the acute global financial crisis of 2008/09, the need to get economies back on track and to handle high levels of public and private debt has created conflicting objectives. Challenges yet to be mastered are the need to avoid counterproductive measures of adjustment and the persistent need to "rebalance" the economy with new sources of growth and productivity. Hence, there is an urgent requirement for policies to reverse the decline in public and private investment, and to fuel innovation. These needs, and the corresponding policy challenges, are especially prevalent in Europe, in particular Central, Eastern and South-Eastern Europe. On this issue, this book contributes important lessons learned from earlier balance sheet recessions. It also addresses the often overlooked link between macroeconomic imbalances and economic inequality. A mix of contributions from academics and policy-makers focus on the interaction between monetary policy and financial stability, adding regional perspectives to the resulting dilemmas and trade-offs. This book is essential reading for the study of economics in emerging economies.

The Evolution of Central Banking and Monetary Policy in the Asia-Pacific (Hardcover): Akhand Akhtar Hossain The Evolution of Central Banking and Monetary Policy in the Asia-Pacific (Hardcover)
Akhand Akhtar Hossain
R3,393 Discovery Miles 33 930 Shipped within 7 - 12 working days

This book of case studies is a significant contribution to monetary macroeconomics in which country-specific experience and issues in inflation and monetary policy are reviewed and analysed in an historical context. In doing so, the key ideas and views on the sources and dynamics of inflation and monetary-policy behaviour are investigated after taking into account institutional arrangements for the conduct of fiscal and monetary policies. This book selects for study twelve diverse countries from the Asia-Pacific region including Australia, China, Hong Kong SAR (China), India, Japan, South Korea, New Zealand, the Philippines, Singapore, Sri Lanka, Thailand and the US. In addition, the book: * reviews the literature on inflation, inflation volatility and monetary policy issues * examines macroeconomic developments and monetary policy regimes * undertakes an empirical investigation of key monetary relations * discusses institutional arrangements and draws policy implications based on empirical findings on price stability, financial stability and economic growth. This volume will be of great value to students and researchers interested in banking, finance, and macroeconomic and monetary policy in the Asia-Pacific.

Eurozone Dystopia - Groupthink and Denial on a Grand Scale (Hardcover): William Mitchell Eurozone Dystopia - Groupthink and Denial on a Grand Scale (Hardcover)
William Mitchell
R3,030 Discovery Miles 30 300 Shipped within 7 - 12 working days

Eurozone Dystopia traces the origin of the Eurozone and shows how the historical Franco-German rivalry combined with the growing dominance of neo-liberal economic thinking to create a monetary system that was deeply flawed and destined to fail. William Mitchell argues that the political class in Europe is trapped in a destructive groupthink. Based on a flawed understanding of macroeconomic fundamentals, groupthink extols the virtues of the erroneous concept of the self-regulating free market and prevents Europe from seeing its own policy failures. As a result, millions are unemployed, with imperilled member states caught in a cycle of persistent stagnation and rising social instability. Providing a detailed historical analysis of the evolution of the Eurozone and its failings from the 1940s to the present day, the book argues that the Eurozone lacks the necessary monetary architecture, particularly the existence of a federal fiscal function which could have resolved the economic crisis quickly. The author examines the options available to Europe and concludes that an orderly abandonment of the euro and a return to national currencies is the superior option available. The justification for this conclusion is exhaustively argued within a Modern Monetary Theory framework. This thoughtful and accessible account of Europe's economic woes will appeal to all those who are seeking an explanation for the crisis and are receptive to sensible and credible alternatives to the current scenario.

Monetary Regimes and Inflation - History, Economic and Political Relationships (Hardcover, 2nd Revised edition): Peter Bernholz Monetary Regimes and Inflation - History, Economic and Political Relationships (Hardcover, 2nd Revised edition)
Peter Bernholz
R1,944 Discovery Miles 19 440 Shipped within 7 - 12 working days

Exploring the characteristics of inflations and comparing historical cases from Roman times up to the modern day, this book provides an in depth discussion of the subject. It analyzes the high and moderate inflations caused by the inflationary bias of political systems and economic relationships, as well as the importance of different monetary regimes in containing them. The differences for the possible size of inflations among monetary regimes like metallic currencies, the gold standard and fiat paper money are discussed. It is shown that huge budget deficits of government have been responsible for all hyperinflations. This revised second edition debates whether a growth of the money supply exceeding that of real Gross Domestic Production is a necessary or sufficient reason for inflation and also includes a new concluding chapter, which explores the long-term tendencies to create, maintain and abolish inflation-stable monetary regimes. Moreover, the conditions for long-term inflation-stable monetary regimes in history are explored. By surveying thirty hyperinflations, Peter Bernholz demonstrates that certain economic traits have been stable characteristics of inflations over the centuries, and illustrates their causes. He also examines the consequences of high inflations for unemployment, the distortions between relative prices and the political conditions that allow a return to stable monetary regimes after high inflations, given the inflationary tendencies of political systems. This book will appeal to a wide-ranging audience, including students, economists, historians, political scientists and sociologists looking to improve their knowledge of monetary regimes and inflation. Bankers, businessmen and politicians attempting to solve the problems caused for them by inflation, will also find this to be a useful read.

The Aggregate Production Function and the Measurement of Technical Change - `Not Even Wrong' (Paperback): Jesus Felipe,... The Aggregate Production Function and the Measurement of Technical Change - `Not Even Wrong' (Paperback)
Jesus Felipe, John S L McCombie
R682 Discovery Miles 6 820 Shipped within 7 - 12 working days

This authoritative and stimulating book represents a fundamental critique of the aggregate production function, a concept widely used in macroeconomics. The authors explain why, despite the serious aggregation problems that surround it, aggregate production functions often give plausible statistical results. This is due to the use of constant-price value data, rather than the theoretically correct physical data, together with an underlying accounting identity that relates the data definitionally. It is in this sense that the aggregate production function is `not even wrong': it is not a behavioural relationship capable of being statistically refuted. The book examines the history of the production function and shows how certain seminal works on neoclassical growth theory, labour demand functions and estimates of the mark-up, among others, suffer from this fundamental problem. The book represents a fundamental critique of the aggregate production function and will be of interest to all macroeconomists.

The Demise of Finance-dominated Capitalism - Explaining the Financial and Economic Crises (Hardcover): Eckhard Hein, Daniel... The Demise of Finance-dominated Capitalism - Explaining the Financial and Economic Crises (Hardcover)
Eckhard Hein, Daniel Detzer, Nina Dodig
R2,666 Discovery Miles 26 660 Shipped within 7 - 12 working days

The Demise of Finance-dominated Capitalism goes well beyond the dominant interpretation that the recent financial and economic crises are rooted in malfunctioning and poorly regulated financial markets. The book provides an overview of different theoretical, historical and empirical perspectives on the long-run transition towards finance-dominated capitalism, on the implications for macroeconomic and financial stability, and ultimately on the recent global financial and economic crises. In the first part of the book the macroeconomics of finance-dominated capitalism, the theories of financial crisis and important past crises are reviewed. The second part deals with the 2007-09 financial and economic crises in particular, and discusses five explanations of the crises in more detail. The special focus of the book is the long-run problems and inconsistencies of finance-dominated capitalism that played a key role in the crisis and its severity. The comprehensive literature reviews on the issues of financialization and economic crises will be a valuable aid to students. Policy makers will find the broader views on the causes of the recent financial and economic crises and the contradictions of finance-dominated capitalism of great interest. Alternative views on the long-run developments towards financialization, as well as on the relationships of these developments with the recent financial crises, will appeal to researchers in this field.

Macroeconomics (Paperback): Nils Gottfries Macroeconomics (Paperback)
Nils Gottfries
R1,636 R1,303 Discovery Miles 13 030 Save R333 (20%) Shipped within 7 - 12 working days

"Macroeconomics "presents a new approach to macroeconomics, based on microeconomic foundations combined with Keynesian-style short-run policy analysis.
The book features:
- A pronounced international stance, systematically presenting data from several countries
- Consistent treatment of the long and short run and the closed and open economy
- A highly relevant approach that takes account of market imperfections and rigidities, which characterize real economies
- Up-to-date chapters on EMU, business cycles, institutions and policy, and financial markets and crises
- End of chapter summaries, exercises with varying levels of difficulty, plus appendices providing extension material
Written in a clear and direct style, Gottfries's "Macroeconomics" is the ideal textbook for students who seek a thorough understanding of modern macroeconomics in preparation for work or further study.

The ABCs of RBCs - An Introduction to Dynamic Macroeconomic Models (Hardcover): George T. McCandless The ABCs of RBCs - An Introduction to Dynamic Macroeconomic Models (Hardcover)
George T. McCandless
R1,446 R1,297 Discovery Miles 12 970 Save R149 (10%) Shipped within 7 - 11 working days

"The ABCs of RBCs" is the first book to provide a basic introduction to Real Business Cycle (RBC) and New-Keynesian models. These models argue that random shocks--new inventions, droughts, and wars, in the case of pure RBC models, and monetary and fiscal policy and international investor risk aversion, in more open interpretations--can trigger booms and recessions and can account for much of observed output volatility.

George McCandless works through a sequence of these Real Business Cycle and New-Keynesian dynamic stochastic general equilibrium models in fine detail, showing how to solve them, and how to add important extensions to the basic model, such as money, price and wage rigidities, financial markets, and an open economy. The impulse response functions of each new model show how the added feature changes the dynamics.

"The ABCs of RBCs" is designed to teach the economic practitioner or student how to build simple RBC models. Matlab code for solving many of the models is provided, and careful readers should be able to construct, solve, and use their own models.

In the tradition of the "freshwater" economic schools of Chicago and Minnesota, McCandless enhances the methods and sophistication of current macroeconomic modeling.

The Encyclopedia of Central Banking (Hardcover): Louis-Philippe Rochon, Sergio Rossi The Encyclopedia of Central Banking (Hardcover)
Louis-Philippe Rochon, Sergio Rossi
R3,866 Discovery Miles 38 660 Shipped within 7 - 12 working days

The Encyclopedia of Central Banking provides definitive and comprehensive encyclopedic coverage on central banking and monetary theory and policy. Containing close to 250 entries from specially commissioned experts in their fields, elements of past and current monetary policies are described and a critical assessment of central bank practices is presented. Since the global financial crisis of 2008-09, all major central banks have intervened to avert the collapse of the global economy, bringing monetary policy to the forefront. Rochon and Rossi give an up to date, critical understanding of central banking, at both theoretical and policy-oriented levels. This Encyclopedia explains the complexity of monetary-policy interventions, their conceptual and institutional frameworks, and their own limits and drawbacks. The reader is provided with the body of knowledge necessary to understand central banks' decisions in the aftermath of the global financial crisis and controversial explanations of the crisis are illuminated from a historical perspective. Academics and students of economics will find this an indispensible reference tool, offering current and necessary insight into central banking and monetary policy. Practitioners in the financial sector will also benefit from this refreshed insight into such a fundamental topic.

Central Bank Independence and the Legacy of the German Past (Hardcover): Simon Mee Central Bank Independence and the Legacy of the German Past (Hardcover)
Simon Mee
R1,669 R1,543 Discovery Miles 15 430 Save R126 (8%) Shipped within 7 - 12 working days

The 2008 financial crisis led to more and more frequent political attacks on central banks. The recent spotlight on central bank independence is reminiscent of the fiery debates amongst Germany's political elites in 1949 on the same issue; debates that were sparked by the establishment of West Germany in that year. Simon Mee shows how, with the establishment of West Germany's central bank - today's Deutsche Bundesbank - the country's monetary history became a political football, as central bankers, politicians, industrialists and trade unionists all vied for influence over the legal provisions that set out the remit of the future monetary authority. The author reveals how a specific version of inter-war history, one that stresses the lessons learned from Germany's periods of inflation, was weaponised and attached to a political, contemporary argument for an independent central bank. The book challenges assumptions around the evolution of central bank independence with continued relevance today.

Do Markets Corrupt Our Morals? (Paperback, 1st ed. 2019): Virgil Henry Storr, Ginny Seung Choi Do Markets Corrupt Our Morals? (Paperback, 1st ed. 2019)
Virgil Henry Storr, Ginny Seung Choi
R573 R459 Discovery Miles 4 590 Save R114 (20%) Shipped within 7 - 12 working days

The most damning criticism of markets is that they are morally corrupting. As we increasingly engage in market activity, the more likely we are to become selfish, corrupt, rapacious and debased. Even Adam Smith, who famously celebrated markets, believed that there were moral costs associated with life in market societies. This book explores whether or not engaging in market activities is morally corrupting. Storr and Choi demonstrate that people in market societies are wealthier, healthier, happier and better connected than those in societies where markets are more restricted. More provocatively, they explain that successful markets require and produce virtuous participants. Markets serve as moral spaces that both rely on and reward their participants for being virtuous. Rather than harming individuals morally, the market is an arena where individuals are encouraged to be their best moral selves. Do Markets Corrupt Our Morals? invites us to reassess the claim that markets corrupt our morals.

The Vanishing Middle Class - Prejudice and Power in a Dual Economy (Hardcover): Peter Temin The Vanishing Middle Class - Prejudice and Power in a Dual Economy (Hardcover)
Peter Temin
R511 R401 Discovery Miles 4 010 Save R110 (22%) Shipped within 7 - 12 working days

Why the United States has developed an economy divided between rich and poor and how racism helped bring this about. The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America, and outlines ways to work toward greater equality so that America will no longer have one economy for the rich and one for the poor. Many poorer Americans live in conditions resembling those of a developing country-substandard education, dilapidated housing, and few stable employment opportunities. And although almost half of black Americans are poor, most poor people are not black. Conservative white politicians still appeal to the racism of poor white voters to get support for policies that harm low-income people as a whole, casting recipients of social programs as the Other-black, Latino, not like "us." Politicians also use mass incarceration as a tool to keep black and Latino Americans from participating fully in society. Money goes to a vast entrenched prison system rather than to education. In the dual justice system, the rich pay fines and the poor go to jail.

Financial Cycles and the Real Economy - Lessons for Cesee Countries (Hardcover): Ewald Nowotny, Doris Ritzberger-Grunwald,... Financial Cycles and the Real Economy - Lessons for Cesee Countries (Hardcover)
Ewald Nowotny, Doris Ritzberger-Grunwald, Peter Backe
R2,425 Discovery Miles 24 250 Shipped within 7 - 12 working days

What is the link between the financial cycle - financial booms, followed by busts - and the real economy? What is the direction of this link and how salient is this connection? This unique book examines these fundamental questions and offers a paramount contribution to the debate surrounding the recent financial and economic crisis. With contributions from eminent academics and policy makers, this multi-disciplinary collection ascertains the policy challenges perpetuated by financial cycles in the real economy. Prominent macroeconomic models are challenged as experts question the nexus between financial deepening and growth, and assess the contribution of real estate bubbles to financial crises. Focusing on Europe, and in particular on Central, Eastern and South-Eastern Europe, the collection provides country-specific accounts, suggesting policy initiatives for dealing with financial cycles. The book concludes that financial cycles are leading indicators for financial crises and calls for economists to integrate financial factors into macroeconomic modelling. The multi-faceted nature of this book will be invaluable to researchers and students interested in the post financial crisis debate. Policy makers and practitioners will find the expert insight into lessons learned in Europe in the wake of the financial crisis and the proposal for dynamic policy initiatives to be invaluable.

Institutions and Macroeconomic Policies in Resource-Rich Arab Economies (Hardcover): Kamiar Mohaddes, Jeffrey B. Nugent, Hoda... Institutions and Macroeconomic Policies in Resource-Rich Arab Economies (Hardcover)
Kamiar Mohaddes, Jeffrey B. Nugent, Hoda Selim
R2,044 Discovery Miles 20 440 Shipped within 7 - 12 working days

For over eighty years the Arab region has been deriving massive wealth from its natural resources. Nevertheless, its economic performance has been at the mercy of ebbs and flows of oil prices and its resources have been slowly depleting. The two critical questions are why and how Arab countries might escape the oil curse. Institutions and Macroeconomic Policies in Resource-Rich Arab Economies focuses on the unique features of the Arab world to explain the disappointing outcomes of macroeconomic policy. It explores the interaction between oil and institutions to draw policy recommendations on how Arab countries can best exploit their oil revenues to avoid the resource curse. Case studies and contributions from experts provide an understanding of macroeconomic institutions (including their underlying rules, procedures and institutional arrangements) in oil-rich Arab economies and of their political economy environment, which has largely been overlooked in previous research. Institutions and Macroeconomic Policies in Resource-Rich Arab Economies offers novel macroeconomic policy propositions for exchange rate regimes, fiscal policy and oil wealth distribution that is more consistent with macroeconomic stability and fiscal sustainability. These policy reforms, if implemented successfully, could go a long way in helping the resource-rich countries of the Arab region and elsewhere to avoid the oil curse.

Banking, Monetary Policy and the Political Economy of Financial Regulation - Essays in the Tradition of Jane D'Arista... Banking, Monetary Policy and the Political Economy of Financial Regulation - Essays in the Tradition of Jane D'Arista (Hardcover, UK ed.)
Gerald A. Epstein, Tom Schlesinger, Matias Vernengo
R2,674 Discovery Miles 26 740 Shipped within 7 - 12 working days

The many forces that led to the economic crisis of 2008 were in fact identified, analyzed and warned against for many years before the crisis by economist Jane D'Arista, among others. Now, writing in the tradition of D'Arista's extensive work, the internationally renowned contributors to this thought-provoking book discuss research carried out on various indicators of the crisis and illustrate how these perspectives can contribute to productive thinking on monetary and financial policies. Topics addressed include monetary policy, financial markets, financial history, liquidity, institutions and global finance, with an emphasis on the ways in which theory and policy can be applied toward the goal of a more equitable and civilized society. The book's contributors hail from across the globe and offer a range of both academic and policy-making perspectives. This fascinating book will appeal to students and scholars of economics, particularly those with an interest in international finance and banking, financial regulation, and political economy

Money, Banking and the Foreign Exchange Market in Emerging Economies (Hardcover): Tarron Khemraj Money, Banking and the Foreign Exchange Market in Emerging Economies (Hardcover)
Tarron Khemraj
R1,702 Discovery Miles 17 020 Shipped within 7 - 12 working days

Despite the financial liberalization agenda of the mid-1980s, a system of bank oligopolies has developed in both large and small, open developing economies. Mainstream monetary theory tends to assume a capital markets structure and is therefore not well suited to an analysis of these economies. This book outlines a unique theoretical framework that can be used to examine monetary and exchange rate policies in developing economies or other economies in which banks dominate external finance. Giving the foreign exchange market a prominent role, this volume presents extensive econometric results and descriptive statistics to support core theoretical ideas, including both micro and macroeconomic models. Topics discussed include oligopoly market power, excess liquidity, bank concentration, interest rate spread and the implications of bank foreign exchange trading on exchange rate stability, foreign exchange rate regime choice and monetary management. Students and scholars of development economics, money and banking, and development finance will find this book a valuable resource, as will policy makers and others affiliated with central banks in developing economies.

Lectures in Macroeconomics - A Capitalist Economy Without Unemployment (Hardcover): Kazimierz Laski Lectures in Macroeconomics - A Capitalist Economy Without Unemployment (Hardcover)
Kazimierz Laski; Edited by Jerzy Osiatynski, Jan Toporowski
R808 Discovery Miles 8 080 Shipped within 7 - 12 working days

Lectures in Macroeconomics: A Capitalist Economy Without Unemployment provides a systematic account of the principle of aggregate demand based on the work of Polish economist Michal Kalecki, best known as one of the originators of the Keynesian Revolution in macroeconomics.The lectures demonstrate the importance of aggregate demand in determining total output and employment in the capitalist economy. They show how the investment decisions of firms affect economic growth, arguing that due to the unstable nature of investment it is important that the government has a central role in stabilizing the economy. This English translation of Kazimierz Laski's final work brings up to date fundamental concepts to give a picture of the twenty-first capitalist economy, and the obstacles that must be overcome in bringing it to full employment. It introduces the role of money and finance in the contemporary capitalist economy, as well as the central role of the labour market and wages. The analysis is illustrated with statistics and discussion around the evolution of capitalist economies and the rise of economic inequality since the Second World War, culminating in the 2008 crisis and the economic deflation affecting Europe since that crisis. Lectures in Macroeconomics remarks critically upon the neo-classical approach to economics that has brought about slow economic growth, unemployment, and inequality.

Studies in Macroeconomic History - The Bank of England and the Government Debt: Operations in the Gilt-Edged Market, 1928-1972... Studies in Macroeconomic History - The Bank of England and the Government Debt: Operations in the Gilt-Edged Market, 1928-1972 (Hardcover)
William A. Allen
R1,888 R1,743 Discovery Miles 17 430 Save R145 (8%) Shipped within 7 - 12 working days

The Bank of England and the Government Debt recounts the surprising history of the Bank of England's activities in the government securities market in the mid-twentieth century. The Bank's governor, Montagu Norman, had a decisive influence on government debt management policy until he retired in 1944, and established an auxiliary market in government securities outside the Stock Exchange during the Second World War. From the early 1950s, the Bank, concerned about inadequate market liquidity, became an increasingly active market-maker in government securities, rescuing the commercial market-makers in the Stock Exchange several times. The Bank's market-making activities often conflicted with its monetary policy objectives, and in 1971, it curtailed them substantially, while avoiding the damaging effects on liquidity in the government securities market that it had feared. Drawing heavily on archival research, William A. Allen sheds light on little-known aspects of central-banking and monetary policy.

Handbook of the International Political Economy of Monetary Relations (Hardcover): Thomas H. Oatley, W. Kindred Winecoff Handbook of the International Political Economy of Monetary Relations (Hardcover)
Thomas H. Oatley, W. Kindred Winecoff
R3,746 Discovery Miles 37 460 Shipped within 7 - 12 working days

This extensive Handbook provides an in-depth exploration of the political economy dynamics associated with the international monetary and financial systems. Leading experts offer a fresh take on research into the interaction between system structure, the self-interest of private firms, the political institutions within which governments make policy, and the ideas that influence beliefs about appropriate policy responses. Crucially they also assess how these factors have shaped the political economy of various facets of monetary and financial systems. Organized into four comprehensive sections, the Handbook begins with a focus on the international system and explores how the distribution of power in the system shapes its structure and dynamics. The next section then considers the politics of exchange rate regime choice before analyzing current research on financial crises and financial regulation. Key questions are asked, such as: what drives financial crises and why do some economies suffer banking and currency crises while others do not? How does politics shape the central characteristics of the IMF's approach to crisis management? And how does change in the distribution of power in the international system change the structure of the global monetary and financial systems? The Handbook addresses these concerns and concludes with an examination of international governance, including the IMF and institutional reform in the post-crisis eurozone. This detailed Handbook brings together original contributions from some of the leading authorities in the field, making it an invaluable resource to academics and students of international relations, governance, and political economy.

Consumer Expectations - Micro Foundations and Macro Impact (Paperback): Richard Thomas Curtin Consumer Expectations - Micro Foundations and Macro Impact (Paperback)
Richard Thomas Curtin
R760 Discovery Miles 7 600 Shipped within 7 - 12 working days

Richard Curtin has directed the University of Michigan's consumer sentiment surveys for more than four decades. His analyses of recent trends in consumer expectations are regularly covered in the worldwide press. In this book, Curtin presents a new theory of expectations. Whereas conventional theories presume that consumers play a passive role in the macro economy, simply reacting to current trends in incomes, prices, and interest rates, Curtin proposes a new empirically consistent theory. He argues that expectations are formed by an automatic process that utilizes conscious and nonconscious processes, passion and reason, information from public and private sources, and social networks. Consumers ultimately reach a decision that serves both the micro decision needs of individuals and reflects the common influence of the macro environment. Drawing on empirical observations, Curtin not only demonstrates the importance of consumer sentiment, but also how it can foreshadow the cyclical turning points in the economy.

The Microfoundations Delusion - Metaphor and Dogma in the History of Macroeconomics (Paperback): J.E. King The Microfoundations Delusion - Metaphor and Dogma in the History of Macroeconomics (Paperback)
J.E. King
R624 Discovery Miles 6 240 Shipped within 7 - 12 working days

In this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have `rigorous microfoundations'. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors and the defects of micro-reduction as a methodological principle. Strong criticism of the microfoundations dogma is documented in great detail, from some mainstream and many heterodox economists and also from economic methodologists, social theorists and evolutionary biologists. The author argues for the relative autonomy of macroeconomics as a distinct `special science', cooperating with but most definitely not reducible to microeconomics. The Microfoundations Delusion will prove a stimulating and thought-provoking read for scholars, students and researchers in the fields of economics, heterodox economics and history of economic thought.

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