Money and the Economy: Issues in Monetary Analysis

Description

This volume, by two eminent monetarist economists, offers a unique perspective on a key issue of monetary economics: the effect of money on output. Karl Brunner and Allan Meltzer address the theoretical aspects of this issue with the purpose of understanding their policy implications. They offer an historical overview of the relationship between money and output, and then go on to present a model of a monetary economy before examining the real sector. The theme of the final lecture is uncertainty and the costs of acquiring information.

'This book represents the last in a long and distinguished line of works on monetary economics by Karl Brunner and Allan Meltzer ... a masterful overview of the relationship between money and output ... There is a happy mixture of retrospective and a prospective analysis in the lectures, evaluating received economic theory and suggesting future economic policy. As a readable and insightful appraisal of monetarist economics in comparison with its rivals I recommend the book'. The Economic Journal 'The author is a renowned researcher in this area. His book will serve not only as an introduction to the topic, but it will certainly remain as a major reference on collocation methods for many years.' Numerical Algorithms