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Inflation and the Theory of Money

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ISBN-10: 0202309231

ISBN-13: 9780202309231

Edition: 2007

Authors: R. J. Ball, R.J. Ball

List price: $50.95
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Martin Bronfenbrenner in the Journal of Finance had this to say when the book was first released "A thoughtful, scholarly, and systematic treatise on the economics of inflation. If this reviewer were asked to hang a course on inflation theory upon one single text, it would almost certainly be this one." The principal concern of this book is to set out the elements that enter into problems of analyzing inflation. This detailed, readable review of contemporary theory on the problems of inflation fills an important gap in the literature on macro-economics that: 1) assesses the implications of inflationary processes for economic policy; 2) synthesizes a general framework within which to…    
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Book details

List price: $50.95
Copyright year: 2007
Publisher: Routledge
Publication date: 2/15/2007
Binding: Paperback
Pages: 312
Size: 6.00" wide x 8.75" long x 0.75" tall
Weight: 1.078

B.S. Yameynbsp;is professor emeritus in the department of economics at the London School of Economics and Political Science. He is also an honorary fellow at the universityR. J. Ball nbsp;is professor of economics and econometrics in the London Graduate School of Business Studies. He has been Senior Lecturer at Manchester University, Chairman of the Royal Bank of Canada, Principal of London Business School, and Chairman, Legal and General Group Plc. His main research interest is the formulation and application of macroeconomics policy. He is author of many books and journal publications.

Preface
The General Price Level
Introduction
The Concept of the General Price Level
The Problem of Inflation
The Elements of Macroeconomic Analysis
The Scope of the Analysis
The Plan of the Book
Prices and the Laws of Exchange
Introduction
The Exchange Economy
Utility and the Demand for Money
Equilibrium Prices, Quantities and Stocks
Excess Demand and the Dynamics of Price Adjustment
Aggregation in the Exchange Economy and Walras Law
Effects of a Change in the Nominal Stock of Money
Expectations, Inflation and the Quantity Theory
Summary
Employment and the Price Level
Introduction
Classics, Neo-classics and Keynesians
Employment and Prices in a Neo-classical Economy
Prices and Wages in a Keynesian Economy
Keynesianism and Neo-classicism
Summary
The Keynesian Theory of Inflation
Introduction
Shifts in the Wage Level in the Simple Keynesian Model
Cost Inflation and the Supply of Money
The Keynesian Theory of Demand Inflation
Excess Demand and Full Employment
Summary
Alternative Approaches to the Theory of Inflation
Introduction
Partial Theories of Inflation
The Elements of a General Theory of Price Level Analysis
Business Behaviour and the Price Level
Introduction
Uncertainty, Risk and Technical Change
Flexible and Inflexible Prices
The Nature of Contemporary Theory
Prices, Productivity and Growth
The Price Level and the Supply of Capital
Demand, Expectations and Short Period Adjustment
Final Price and the Price of Raw Materials
The Price Level in the Macroeconomy
Summary
Wages, Earnings and the Demand for Labour
Introduction
Wages and Earnings
Wage Claims and the Bargaining Process
Business Reaction to Wage Claims
Organized Labour and the Wage Transfer Mechanism
The Determinants of the Wage Drift
Some Empirical Aspects of Wage Determination
Expectations and the Demand for Labour
Summary
Money and Assets
Introduction
'Key' Asset Theories of Money
The Definition of Money
Money and the Complex of Assets
The Concept of Liquidity
The Concept of Net Worth
The Demand for Money
Money, Wealth and Spending; the Personal Sector
Money, Wealth and Spending; the Business Sector
Non-Bank Financial Intermediaries
Summary
Money, Velocity and Income
Introduction
The Modern Quantity Theory
The Determinants of the Income Velocity of Money
Non-Bank Intermediaries and the Stability of Velocity
Limits to the Income Velocity of Bank Deposits
Summary
The Process of Inflation
Introduction
The Simple Economy
Savings, Investment and Assets
Expectations and Profits
The Determinants of Wages and Prices
The Nature of Short Period Equilibrium
The Dynamics of Price Inflation and the Stability of Equilibrium
Equilibrium and Full Employment
Secular Inflation and Economic Growth
Hyperinflations
Cost and Demand Inflation Reconsidered
Summary
Inflation and Economic Policy
Introduction
Inflation and Monetary Disequilibrium
The Money Supply and the Government Debt
The Effectiveness of Monetary Policy
Fiscal Policies and Direct Controls
The Control of Wages and Prices
Inflation and the Balance of Payments
Summary
Index
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