A study in monetary macroeconomics

A study in monetary macroeconomics / Stefan Homburg.

The financial crisis of 2007 and the following recession present a major challenge to macroeconomic theory. This text refines and improves mainstream approaches to contribute to a better understanding of the monetary and fiscal policies that have been complicated by low-interest rates and super-expa...

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Bibliographic Details
Main Author: Homburg, Stefan, 1961- (Author)
Format: eBook
Language:English
Published: Oxford, United Kingdom : Oxford University Press, 2017.
Subjects:
Macroeconomics > Mathematical models.
Equilibrium (Economics)
Monetary policy.
BUSINESS & ECONOMICS > Economics > General.
BUSINESS & ECONOMICS > Reference.
Macroeconomics > Mathematical models
Monetary policy
Makroökonomie
Geldpolitik
Online Access:Click for online access
Table of Contents:
  • Cover; A Study in Monetary Macroeconomics; Copyright; Contents; List of Figures and Tables; Key Symbols; Chapter 1: Introduction; Chapter 2: Framework; 2.1 General Structure; Commodities; Credit; Labor; Money; 2.2 Expectations; 2.3 Central Bank; 2.4 Producers; 2.5 Consumers; 2.6 Temporary Equilibrium; 2.7 Setup for Simulations; Chapter 3: Traditional Topics; 3.1 Basic Lessons; 3.1.1 Quantity Theory of Money; 3.1.2 Fisher Effect; 3.1.3 Erratic Expectations; 3.1.4 Superneutrality; 3.1.5 Forced Saving and Distributive Justice; 3.1.6 Welfare; 3.2 Arguable Lessons.
  • 3.2.1 Endogenous Money and Interest Pegs3.2.2 Tobin Effect; 3.2.3 Money Irrelevance; 3.2.4 Interest on Money; 3.2.5 Digression on RE; 3.3 Fiscal Policy; 3.3.1 Superneutrality Revisited; 3.3.2 Ricardian Equivalence; 3.3.3 Leviathan; 3.3.4 Debt Monetization; 3.4 Wage Rigidities; 3.4.1 Employment Trap; 3.4.2 Phillips Curve; 3.4.3 Policy Implications; 3.5 Price Rigidities; 3.5.1 Liquidity Effect; 3.5.2 Deterministic Business Cycles; 3.5.3 The Limit Economy; Chapter 4: Constrained Credit; 4.1 Liquidity Traps; The Puzzle; Zero Lower Bound; 4.2 Borrowing Constraint; Sticky Prices and Wages.
  • 4.3 Policy ImplicationsQuantitative Easing; Forward Guidance; Financial Repression; Stealth Crowding-out; 4.4 Evaluation; 4.5 Conclusion; Chapter 5: Net Worth; 5.1 Entrepreneurs; 5.2 Corporations; 5.3 Stock Manias; 5.4 Limited Leverage; Credit and Prices; Escaping from a Liquidity Trap; Endogenous Borrowing Limits; 5.5 Fisherian Debt-deflations; Chapter 6: Real Estate; 6.1 Empirical Overview; 6.2 Modeling Real Estate; 6.3 Dynamic Inefficiency; 6.4 Quasi-Ricardian Equivalence; 6.5 Housing Manias; 6.6 A Housing Cycle; Chapter 7: Commercial Banks; 7.1 Institutional Background.
  • 7.2 Traditional Banking Model7.3 Funds Rate Determination; The Target Funds Rate; 7.4 Excess Reserves; Leverage Requirement; 7.5 Interest on Reserves; 7.6 Currency and the Money Base; 7.7 Conclusion; Chapter 8: Methods; 8.1 Expectations; 8.2 Intertemporal Choice; 8.3 Modeling Money; 8.4 Labor Supply; 8.5 Price Determination; Appendices; A Producer Behavior; B Consumer Behavior; C Walras' Law; D Existence; E Superneutrality; F Fiscal Model; G Borrowing Constraints; H Net Worth; I Real Estate; J Commercial Banks; K Matlab Sample Codes; References; Index.

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