Monetary Theory and Policy: Proceedings of the Fourth International Conference on Monetary Economics and Banking Held in Aix-en-Provence, France, June 1987Springer Berlin Heidelberg, 26 okt 1988 - 383 pagina's Didier LAUSSEL, William MAROIS and Antoine SOUBEYRAN The papers collected in this volume were presented at the "4th International Conference on Monetary Economics and Banking" held in Aix-en-Provence on June 1987 and organized by the C.E.F.I. (Center for International Economics and Finance of the University of Aix-Marseille II) and the GRECO "Monnaie et Financement" of the C.N.R.S. (National Center for Scientific Research). They concern two main topics: monetary theory and monetary policy. In the first one, the contributions provide new insights in some important problems like rational expectations, monetary optimizing models or portfolio choices. In the second one, almost all the texts are devoted to the game-theoretic approach of monetary policy which is a research area mainly developped since about ten years. I. MONETARY THEORY In their well known article on "Recent Developments in Monetary Theory", R. BARRO and S. FISCHER (1976) discussed seven main topics among which "the theory of money demand", "money, inflation and growth", "disequilibrium theory", "rational expectations and the Phillips Curve". Twelve years after, papers of this volume give some new results in these areas or explore new paths of research like a monetary theory of an innovative process of production or the application of the theory of contracts to financial problems. |
Inhoudsopgave
Towards a Monetary Theory of a Process of Change | 55 |
the Random | 93 |
a Survey | 103 |
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Veelvoorkomende woorden en zinsdelen
agent aggregate demand analysis Aoki assumed assumption average Bayesian errors capital cash flow central bank closed loop Nash coefficient condition constraint contract convergence cooperative equilibrium cost credibility debt reduction debt repudiation denoted deviation dynamic Economic effects equation exchange rate expropriation firm fiscal authorities fiscal impulse fiscal policies forecast foreign futures markets implies increase inflation innovative interest rate International investment Keynesian Kydland lags loop Nash equilibrium loss function macroeconomic Monetarist monetary and fiscal monetary authority monetary base monetary expansion monetary policy Nash equilibrium negative noncooperative behavior OECD optimal outcome output parameter period player policymaker policymaker's private sector problem public debt rate of growth rate of inflation rate of monetary rational expectations regression repeated game sequential equilibrium solution Stackelberg Statistics structural budget surplus Theorem Theory trigger strategy variables zero