The development of monetary economics: a modern perspective on monetary controversies
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cheltenham [u.a.]
Elgar
2008
|
| Ausgabe: | Reprinted |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XV, 265 S. graph. Darst. |
| ISBN: | 9781847202604 |
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| 245 | 1 | 0 | |a The development of monetary economics |b a modern perspective on monetary controversies |c D. P. O'Brien |
| 250 | |a Reprinted | ||
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| 650 | 4 | |a Geschichte | |
| 650 | 4 | |a Monetary policy |x History | |
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Datensatz im Suchindex
| _version_ | 1804138597985550336 |
|---|---|
| adam_text | Contents
List of Figures
ix
List of Tables
xi
Preface
xiii
Acknowledgements
xv
I Introduction
1
Introduction
1
II Early Monetary Debates
2
Bodin s Analysis of Inflation
9
2.1
European Inflation
...................................... 12
2.1.1
Inflation in France
................................ 13
2.2
Scholastic Contribution
.................................. 15
2.2.1
Navarros
........................................ 16
2.2.2
The Quantity Theory in the 16th Century
............. 17
2.3
The Paradoxes
......................................... 19
2.3.1
Bodin s Critique
.................................. 20
2.3.2
Bodin
and the Causes of Inflation
.................... 22
2.4
Exports and the Gains from Trade
......................... 25
2.4.1
Gresham s Law
................................... 27
2.4.2
The Demand for Money
............................ 29
2.5
Inflation: Effects and Remedies
........................... 30
2.5.1
Currency Reform
................................. 31
2.6
Conclusions
........................................... 34
3
John Law: Money and Trade Considered
37
3.1
Law s Concerns
........................................ 38
3.2
The Role of Money
...................................... 40
3.3
Silver Coinage
......................................... 41
3.4
The Monetary Growth Model
............................. 42
3.5
Development and the Price Level
.......................... 45
3.6
Paper Money
...........................................47
vi
CONTENTS
3.7
The Land Standard
..................................... 48
3.8
A Formal Statement of Law s Model
....................... 50
3.9
Conclusions
........................................... 54
4
The Rate of Interest: Locke and His Critics
57
4.1
Locke and the Usury Laws
............................... 58
4.2
Locke s Macroeconomic Vision
............................ 61
4.3
The Price Level
........................................ 65
4.4
The Balance of Payments
................................ 66
4.5
Joseph Massie
......................................... 68
4.6
David Hume
........................................... 73
4.7
Conclusions
........................................... 76
III 19th Century British Controversies
5
The Currency and Banking Controversy
79
5.1
The Nature of Long-Run Equilibrium
...................... 83
5.2
The Need for Monetary Control
........................... 93
5.3
Macroeconomic Management of Disturbances
................ 96
5.4
The Monetary Aggregate
.................................100
5.5
Conclusions
...........................................105
6
Monetary Base Control
107
6.1
The Monetary Background
...............................108
6.2
The Bank Charter Act of
1844............................
Ill
6.2.1
The Debate
......................................
Ill
6.2.2
Provisions of the Act
...............................112
6.3
Wider Considerations
...................................115
6.3.1
Other Means of Payment
...........................115
6.3.2
The Nature of the Monetary Base
....................116
6.3.3
Causes of Gold Loss
...............................116
6.4
The Issues Tested
......................................117
6.5
Era I: The Data
1833-44.................................118
6.5.1
Controlor
the Note Issue
...........................118
6.5.2
Changes in the Price Level
.........................120
6.5.3
The Price Level
...................................126
6.5.4
Bills of Exchange
.................................129
6.6
Era II:
1844-57.........................................132
6.6.1
The Change in the Composition of the Country Bank
Note Issue
.......................................132
6.6.2
Control of the Note Issue
...........................135
6.6.3
Changes in the Price Level
.........................139
6.6.4
The Price Level
...................................142
6.6.5
Bills of Exchange
.................................144
CONTENTS
vii
6.6.6 Macroeconomic
Variability
.........................146
6.7
Conclusions
...........................................152
7
The Lender of Last Resort Concept
157
7.1
The 1790s: Baring and Thornton
..........................159
7.2
The Crisis of
1825......................................162
7.3
Thomas Joplin and Vincent Stuckey
.......................163
7.4
The
1832
Hearings
......................................165
7.5
Joplin in the 1830s
......................................168
7.6
The Bank Charter Debates
...............................170
7.7
The
1844
Act and Last-Resort
.............................171
7.8
The Second Crisis:
1857.................................174
7.9
The Aftermath: the Overend and Gurney Crisis
..............175
7.10
Conclusions
...........................................176
IV Macroeconomic Models
8
Bagehot and Stabilisation
179
8.1
Bagehot s Model
........................................182
8.1.1
The Cycle
........................................183
8.1.2
Income
..........................................184
8.1.3
Interest Rates
....................................187
8.1.4
Savings, Investment and the Money Supply
...........189
8.1.5
The Price Level
...................................189
8.1.6
The Balance of Payments
...........................191
8.1.7
Bullion and the Banking Department Reserve
.........193
8.1.8
Bank Rate
.......................................194
8.2
The Question of Stability
.................................196
8.2.1
Bagehot s Recommendations
........................196
8.2.2
A Formal Treatment of Stability
.....................198
8.3
Conclusions
...........................................199
9
Joplin s Model: A Formal Statement
201
9.1
List of Variables
........................................205
9.2
The Goods Market
......................................205
9.3
The Money Market
......................................208
9.3.1
Goods Market Transactions
.........................208
9.3.2
Financial Market Transactions
......................211
9.3.3
The Balance of Payments
...........................212
9.3.4
Aggregate Supply and the Labour Market
.............213
9.3.5
Aggregate Demand
................................216
9.4
Conclusions
...........................................217
viii CONTENTS
10
Stability With an Inbuilt Cycle
219
10.1
The Currency School: Metallic Fluctuation
..................220
10.2
The Banking School
.....................................224
10.3
The Amplitude of Fluctuations
............................226
10.4
Conclusions
...........................................228
Bibliography
231
Index
253
|
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| spelling | O'Brien, Denis P. 1939- Verfasser (DE-588)122085256 aut The development of monetary economics a modern perspective on monetary controversies D. P. O'Brien Reprinted Cheltenham [u.a.] Elgar 2008 XV, 265 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Geschichte gnd rswk-swf Geschichte Monetary policy History Geldpolitik (DE-588)4019902-2 gnd rswk-swf Geldtheorie (DE-588)4121333-6 gnd rswk-swf Geldtheorie (DE-588)4121333-6 s Geschichte z DE-604 Geldpolitik (DE-588)4019902-2 s Digitalisierung UB Bayreuth application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017103555&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | O'Brien, Denis P. 1939- The development of monetary economics a modern perspective on monetary controversies Geschichte Monetary policy History Geldpolitik (DE-588)4019902-2 gnd Geldtheorie (DE-588)4121333-6 gnd |
| subject_GND | (DE-588)4019902-2 (DE-588)4121333-6 |
| title | The development of monetary economics a modern perspective on monetary controversies |
| title_auth | The development of monetary economics a modern perspective on monetary controversies |
| title_exact_search | The development of monetary economics a modern perspective on monetary controversies |
| title_full | The development of monetary economics a modern perspective on monetary controversies D. P. O'Brien |
| title_fullStr | The development of monetary economics a modern perspective on monetary controversies D. P. O'Brien |
| title_full_unstemmed | The development of monetary economics a modern perspective on monetary controversies D. P. O'Brien |
| title_short | The development of monetary economics |
| title_sort | the development of monetary economics a modern perspective on monetary controversies |
| title_sub | a modern perspective on monetary controversies |
| topic | Geschichte Monetary policy History Geldpolitik (DE-588)4019902-2 gnd Geldtheorie (DE-588)4121333-6 gnd |
| topic_facet | Geschichte Monetary policy History Geldpolitik Geldtheorie |
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