Monetary Theory and Policy

ISBN-10: 0262013770

ISBN-13: 9780262013772

Edition: 3rd 2010

Authors: Carl E. Walsh
List price: $100.00 Buy it from $16.83
eBook available
This item qualifies for FREE shipping

*A minimum purchase of $35 is required. Shipping is provided via FedEx SmartPost® and FedEx Express Saver®. Average delivery time is 1 – 5 business days, but is not guaranteed in that timeframe. Also allow 1 - 2 days for processing. Free shipping is eligible only in the continental United States and excludes Hawaii, Alaska and Puerto Rico. FedEx service marks used by permission."Marketplace" orders are not eligible for free or discounted shipping.

30 day, 100% satisfaction guarantee

If an item you ordered from TextbookRush does not meet your expectations due to an error on our part, simply fill out a return request and then return it by mail within 30 days of ordering it for a full refund of item cost.

Learn more about our returns policy

Description: This text presents a comprehensive treatment of the most important topics in monetary economics, focusing on the primary models monetary economists have employed to address topics in theory and policy. It covers the basic theoretical approaches, shows how to do simulation work with the models, and discusses the full range of frictions that economists have studied to understand the impacts of monetary policy. Among the topics presented are money-in-the-utility function, cash-in-advance, and search models of money; informational, portfolio, and nominal rigidities; credit frictions; the open economy; and issues of monetary policy, including discretion and commitment, policy analysis in new Keynesian models, and monetary operating procedures. The use of models based on dynamic optimization and nominal rigidities in consistent general equilibrium frameworks, relatively new when introduced to students in the first edition of this popular text, has since become the method of choice of monetary policy analysis. This third edition reflects the latest advances in the field, incorporating new or expanded material on such topics as monetary search equilibria, sticky information, adaptive learning, state-contingent pricing models, and channel systems for implementing monetary policy. Much of the material on policy analysis has been reorganized to reflect the dominance of the new Keynesian approach. Monetary Theory and Policycontinues to be the only comprehensive and up-to-date treatment of monetary economics, not only the leading text in the field but also the standard reference for academics and central bank researchers.

New Starting from $113.65
eBooks Starting from $99.99
Buy eBooks
what's this?
Rush Rewards U
Members Receive:
coins
coins
You have reached 400 XP and carrot coins. That is the daily max!

Study Briefs

Limited time offer: Get the first one free! (?)

All the information you need in one place! Each Study Brief is a summary of one specific subject; facts, figures, and explanations to help you learn faster.

Add to cart
Study Briefs
Business Ethics Online content $4.95 $1.99
Add to cart
Study Briefs
Business Law Online content $4.95 $1.99
Add to cart
Study Briefs
Management Online content $4.95 $1.99

Customers also bought

Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading

Book details

List price: $100.00
Edition: 3rd
Copyright year: 2010
Publisher: MIT Press
Publication date: 2/12/2010
Binding: Hardcover
Pages: 640
Size: 7.00" wide x 9.00" long x 1.00" tall
Weight: 2.2
Language: English

Carl E. Walsh is professor of economics at the University of California, Santa Cruz. He is widely known for his research in monetary economics and is the author of a leading graduate text, Monetary Theory and Policy (MIT Press). Before joining the Santa Cruz faculty, Professor Walsh was senior economist at the Federal Reserve Bank of San Francisco, where he continues to be a visiting scholar.

Preface
Introduction
Empirical Evidence on Money, Prices, and Output
Introduction
Some Basic Correlations
Estimating the Effect of Money on Output
Summary
Money-in-the-Utility Function
Introduction
The Basic MIU Model
The Welfare Cost of Inflation
Extensions
Dynamics in an MIU Model
Summary
Appendix: Solving the MIU Model
Problems
Money and Transactions
Introduction
Resource Costs of Transacting
CIA Models
Search
Summary
Appendix: The CIA Approximation
Problems
Money and Public Finance
Introduction
Budget Accounting
Money and Fiscal Policy Frameworks
Deficits and Inflation
The Fiscal Theory of the Price Level
Optimal Taxation and Seigniorage
Summary
Problems
Money in the Short Run: Informational and Portfolio Rigidities
Introduction
Informational Frictions
Limited Participation and Liquidity Effects
Summary
Appendix: An Imperfect-Information Model
Problems
Money in the Short Run: Nominal Price and Wage Rigidities
Introduction
Sticky Prices and Wages
Assessing Alternatives
Summary
Appendix: A Sticky Wage MIU Model
Problems
Discretionary Policy and Time Inconsistency
Introduction
Inflation under Discretionary Policy
Solutions to the Inflation Bias
Is the Inflation Bias Important?
Summary
Problems
New Keynesian Monetary Economics
Introduction
The Basic Model
A Linearized New Keynesian Model
Monetary Policy Analysis in New Keynesian Models
Summary
Appendix
Problems
Money and the Open Economy
Introduction
The Obstfeld-Rogoff Two-Country Model
Policy Coordination
The Small Open Economy
Open-Economy Models with Optimizing Agents and Nominal Rigidities
Summary
Appendix
Problems
Financial Markets and Monetary Policy
Introduction
Interest Rates and Monetary Policy
The Term Structure of Interest Rates
Macrofinance
Financial Frictions in Credit Markets
Does Credit Matter?
Summary
Problems
Monetary Policy Operating Procedures
Introduction
From Instruments to Goals
The Instrument Choice Problem
Operating Procedures and Policy Measures
A Brief History of Fed Operating Procedures
Other Countries
Problems
References
Name Index
Subject Index
×
Free shipping on orders over $35*

*A minimum purchase of $35 is required. Shipping is provided via FedEx SmartPost® and FedEx Express Saver®. Average delivery time is 1 – 5 business days, but is not guaranteed in that timeframe. Also allow 1 - 2 days for processing. Free shipping is eligible only in the continental United States and excludes Hawaii, Alaska and Puerto Rico. FedEx service marks used by permission."Marketplace" orders are not eligible for free or discounted shipping.

Learn more about the TextbookRush Marketplace.

×