Money, Interest, and Policy
Dynamic General Equilibrium in a Non-Ricardian World
By (author) Jean-Pascal Benassy
Normal Price: $15.99
Your Price: $14.39 AUD, inc. GST
Shipping: $7.95 per order
You Save: $1.60! (10% off normal price)
Plus...earn $0.72 in Boomerang Bucks
Availability: Available, ships in 7-10 days
Money, Interest, and Policy by Jean-Pascal Benassy
Book DescriptionAn important recent advance in macroeconomics is the development of dynamic stochastic general equilibrium (DSGE) macromodels. The use of DSGE models to study monetary policy, however, has led to paradoxical and puzzling results on a number of central monetary issues including price determinacy and liquidity effects. In Money, Interest, and Policy, Jean-Pascal Benassy argues that moving from the standard DSGE models -- which he calls "Ricardian" because they have the famous "Ricardian equivalence" property--to another, "non-Ricardian" model would resolve many of these issues. A Ricardian model represents a household as a homogeneous family of infinitely lived individuals, and Benassy demonstrates that a single modification--the assumption that new agents are born over time (which makes the model non-Ricardian)--can bridge the current gap between monetary intuitions and facts, on one hand, and rigorous modeling, on the other. After comparing Ricardian and non-Ricardian models, Benassy introduces a model that synthesizes the two approaches, incorporating both infinite lives and the birth of new agents. Using this model, he considers a number of issues in monetary policy, including liquidity effects, interest rate rules and price determinacy, global determinacy, the Taylor principle, and the fiscal theory of the price level. Finally, using a simple overlapping generations model, he analyzes optimal monetary and fiscal policies, with a special emphasis on optimal interest rate rules.
Buy Money, Interest, and Policy book by Jean-Pascal Benassy from Australia's Online Bookstore, Boomerang Books.
Book DetailsISBN: 9780262524933
(229mm x 152mm x 14mm)
Imprint: MIT Press
Publisher: MIT Press Ltd
Publish Date: 5-Sep-2008
Country of Publication: United States
Books By Author Jean-Pascal Benassy
Macroeconomics of Imperfect Competition and Nonclearing Markets, Paperback (February 2005)» View all books by Jean-Pascal Benassy
A single unified framework that integrates dynamic macroeconomics models on general equilibrium theory, imperfect competition, nonclearing markets, and rational expectations.
» Have you read this book? We'd like to know what you think about it - write a review about Money, Interest, and Policy book by Jean-Pascal Benassy and you'll earn 50c in Boomerang Bucks loyalty dollars (you must be a member - it's free to sign up!)
Author Biography - Jean-Pascal Benassy
Jean-Pascal Benassy is Director of Research at CNRS (National Center for Scientific Research), Paris, and a Research Fellow at CEPREMAP (Center for Economic Research and Applications). He is the author of The Macroeconomics of Imperfect Competition and Nonclearing Markets: A Dynamic General Equilibrium Approach (MIT Press, 2002).
Bestselling Books: Our Current Bestsellers | Australia's Hottest 1000 Books | Bestselling Fiction | Bestselling Crime Mysteries and Thrillers | Bestselling Non Fiction Books | Bestselling Sport Books | Bestselling Gardening and Handicrafts Books | Bestselling Biographies | Bestselling Food and Drink | Bestselling History | Bestselling Travel Books | Bestselling School Textbooks & Study Guides | Bestselling Children's General Non-Fiction | Bestselling Young Adult Fiction | Bestselling Children's Fiction | Bestselling Picture Books | Top 100 US Bestsellers
Phone: 1300 36 33 32 (9am-5pm Mon-Fri AEST) - International: +61 2 9960 7998 - Online Form
Address: Boomerang Books, 878 Military Road, Mosman Junction, NSW, 2088
© 2003-2017. All Rights Reserved. Eclipse Commerce Pty Ltd - ACN: 122 110 687 - ABN: 49 122 110 687
For every $20 you spend on books, you will receive $1 in Boomerang Bucks loyalty dollars. You can use your Boomerang Bucks as a credit towards a future purchase from Boomerang Books. Note that you must be a Member (free to sign up) and that conditions do apply.