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The market for money and the market for credit . Korteweg<|
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eBay item number:126307013329
Item specifics
- Condition
- PublishedOn
- 2013-10-04
- Title
- The market for money and the market for credit : Theory, evidenc
- ISBN
- 9789020706857
- Publication Year
- 1977
- Type
- Textbook
- Format
- Paperback
- Language
- English
- Publication Name
- The market for money and the market for credit: Theory, evidence and implications for Dutch monetary policy
- Item Height
- 229mm
- Publisher
- Wolters-Noordhoff B.V.
- Item Width
- 152mm
- Subject
- Government
- Item Weight
- 370g
- Number of Pages
- 106 Pages
About this product
Product Information
In most Keynesian-type macroeconomic models the financial sector is modelled in terms of money demand, money supply and money market equilibrium. The market equations for private and government debt, i.e. credit, are implicit in these models by virtue of Walras' Law and need not be explicitly specified. Market equations for existing physical capital, or shares in capital, are absent from these models on the tacit assumption that physical capital cannot be traded and, consequently, has no market price. Money in these models is a substitute for private and government debt, not for current output, let alone for physical capital (or claims thereon). Models with these characteristics have three basic weaknesses. They narrow down the monetary transmission mechanism to a small subset of assets. Moreover, they produce downward-biased estimates of the degree of controllability of money in open economies if money and claims on physical capital are actually substitutes. Finally, these models are ill-suited to analyze adequately the effects of open market operations and of financing government budget deficits which change the stocks of money and debt.
Product Identifiers
Publisher
Wolters-Noordhoff B.V.
ISBN-13
9789020706857
eBay Product ID (ePID)
93272523
Product Key Features
Publication Name
The market for money and the market for credit: Theory, evidence and implications for Dutch monetary policy
Format
Paperback
Language
English
Subject
Government
Publication Year
1977
Type
Textbook
Number of Pages
106 Pages
Dimensions
Item Height
229mm
Item Width
152mm
Item Weight
370g
Additional Product Features
Country/Region of Manufacture
Netherlands
Item description from the seller
Business seller information
Value Added Tax Number:
- GB 724498118
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eBay item number:126307013329
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