Yulek Murat Yulek

Money Matters (eBook, ePUB)

Some Puzzles, Anomalies and Crises in the Standard Macroeconomic Model

• Format: ePub

Produktbeschreibung

The 2007 financial crisis and the Great Recession have prompted a debate about the state of macroeconomics, and many orthodox economists have argued that macroeconomics has entered a Dark Age.

This book discusses the shortcomings of the standard macroeconomic model (SMM). The SMM failed to explain the real world and anticipate the global financial crises. The main reasons for this failure have been attributed to its inability to assign an active role of money and by the absence of appropriate modelling of financial markets.

The book also discusses how the SMM can be reformed to better account for the real world and policy prescriptions, such as the Chicago Plan, that can reduce the risks emanating from excessive money creation by banks.

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Produktdetails

• Verlag: Peter Lang GmbH, Internationaler Verlag der Wissenschaften
• Erscheinungstermin: 14. Juni 2017
• Englisch
• ISBN-13: 9783631721476
• Artikelnr.: 52927665

Autorenporträt

Syed F. Mahmud is a professor of economics at Bilkent University. He holds a Ph.D. degree in economics from McMaster University (Canada). In recent years, his research has been primarily focused on banking and finance.

Kaoru Yamaguchi is Director at Japan Futures Research Center. He holds a Ph.D. degree in economics from the University of California, Berkeley.

Murat Yülek is a professor of economics at Istanbul Ticaret University and the Director of the Center for Industrial Policy and Development. He holds a Ph.D. degree in economics from Bilkent University and has published widely in the field of economic and financial development.

Inhaltsangabe

Standard macroeconomic model - Financial crises - Velocity of money - Quantity theory of money - System dynamic approach - Intermediation loanable funds theory - Fractional reserve banking - Balance sheet recession - Endogenous money view - Debt money - Chicago Plan