Interest and Prices: Foundations of a Theory of Monetary Policy - Abe. Books. From the Inside Flap. Woodford is well- known as one of the world's current most original thinkers in economics. In this book you will find not only a unified treatment of the theoretical foundations of monetary policy, optimal policy inertia, indicator variables for optimal policy, monetary policy in a world without money, fiscal requirements for price stability, optimal rules for setting interest rates, and much more, but also practical details of implementation such as methods used by various central banks for controlling interest rates. Brock, University of Wisconsin, Madison. The book it most resembles is Patinkin's classic Money, Interest, and Prices now nearly 4. Woodford's book illustrates the immense progress that macroeconomics has made in the past generation, from its careful treatment of dynamics and of optimizing behavior, to its discussion of optimal monetary policy. It is an impressive intellectual achievement, all the way from abstract theory to Taylor rules for central banks. I have gone to it, pen and paper in hand, many times over the past few years when it was still a manuscript. Each time, I found it illuminating. This book is a classic. These ideas form the most significant original book- length contribution to monetary economics since Don Patinkin's Money, Interest, and Prices. Woodford's insights into a cashless world will prove enduring. Woodford's book is especially commendable for its forward- looking elements, such as how to conduct monetary policy in a near cashless society, and how international currencies may coexist when global financial markets become truly integrated. Some of the individual chapters are already firmly established as standard technical references for modern methods in monetary policy economics. By showing how to stretch the limits of purely analytical methods, the book also builds a bridge from classical monetary theory to modern computational macroeconomics, possibly pointing the way to a new generation of medium- scale macroeconomic models. Michael Woodford provides a lucid dynamic synthesis of two schools of thought- -Monetarism versus New Keynesianism- -that have recently been the subject of a remarkable convergence of thinking among macroeconomists. Well written, it systematically revisits classic issues in monetary theory and allows rigorous welfare analyses. A must read for econo- nerds. Michael Woodford John Bates Clark Professor of Political Economy. Interest and Prices: Foundations of a Theory of Monetary Policy Michael Woodford Princeton: Princeton University Press, 2003, 785 pp. The title of Michael Woodford’s book is not an accidental echoing of the 1898 work by the. Michael Woodford; Born: 1955 (age 60–61) Chicopee, Massachusetts: Nationality: United States: Institution: Columbia University: Field: Macroeconomics Monetary policy: School or tradition: New Keynesian economics: Alma mater. InterestandPrices FoundationsofaTheoryofMonetaryPolicy MICHAEL WOODFORD. Interest and Prices /Woodford/Pagexii/ 1st Proof xii Contents 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32. Read Interest and Prices Foundations of a Theory of Monetary Policy by Michael Woodford with Kobo. With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commod. Winner of the 2003 Award for Best Professional/Scholarly Book in Economics, Association of American Publishers. Dalla quarta di copertina 'This long-awaited book by master macroeconomist Michael Woodford belongs on. Michael Woodford: Interest and Prices. CHAPTER 1 The Return of Monetary Rules Ifitwereinourpowertoregulatecompletelythepricesystemofthe future,theidealposition.
Gregory Mankiw, Chairman of the Council of Economic Advisors, citing his . Helm '2. 0 Professor of Economics and Banking at Princeton University. He is the coeditor, with John B.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
January 2017
Categories |