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Further Essays in Monetary Economics

Book Description

A sequel to Essays in Monetary Economics, this book develops the ideas on domestic and international monetary issues, with reference to specific events and crises of the 1960s and 70s. These essays are distinguished by the author’s expert grasp of the analytical techniques and contemporaneous policy problems of both domestic and international monetary economics.

Table of Contents

  1. Cover
  2. Half Title
  3. Title Page
  4. Copyright Page
  5. Original Copyright Page
  6. Dedication
  7. Contents
  8. Introduction
  9. PART I. GENERAL MONETARY THEORY
    1. 1. Recent Developments in Monetary Theory—a Commentary
    2. 2. The Keynesian Revolution and the Monetarist Counter-Revolution
      1. Appendix A. Keynes and the Keynesians
      2. Appendix B. Monetary Theory and Monetary Policy
    3. 3. Problems of Efficiency in Monetary Management
    4. 4. Inside Money, Outside Money, Income, Wealth and Welfare in Monetary Theory
      1. Appendix. A Comment on Pesek and Saving’s Theory of Money and Wealth
    5. 5. Is There an Optimal Money Supply?
  10. PART II. INTERNATIONAL MONETARY THEORY
    1. 6. Some Aspects of the Theory of Economic Policy in a World of Capital Mobility
    2. 7. Theoretical Problems of the International Monetary System
    3. 8. The Case for Flexible Exchange Rates, 1969
      1. Appendix: The Panamanian Monetary System
    4. 9. The Monetary Approach to Balance-of-Payments Theory
    5. 10. Five Notes
      1. 1. The Welfare Costs of Exchange Rate Stabilization
      2. 2. Seigniorage and the Social Saving from Substituting Credit for Commodity Money
      3. 3. Efficiency in International Money Supply
      4. 4. Border Taxes, Border Tax Adjustments, Comparative Advantage and the Balance of Payments (with Mel Krauss)
      5. 5. Are You Worth Your Weight in Gold?
  11. PART III. THE INTERNATIONAL MONETARY CRISIS
    1. 11. The International Monetary Crisis, 1969
    2. 12. Problems of European Monetary Union
    3. 13. Inflation: A ‘Monetarist’ View
    4. 14. Problems of Stabilization Policy in an Integrated World Economy
    5. 15. The International Monetary Crisis of 1971
  12. Index