Construct a monetary economics model

Author: Kamps
Publisher:
Publish Date: 2004-03-01
Features: This book teaches monetary economics using classic examples of rational people in the market, targeting upper-level undergraduate students. Monetary economics is often taught as a series of facts about the current system for students to memorize, but the author's goal in this book is not only to tell students about the current monetary policy and system in the United States but also to show them what policies and systems might exist in the future or elsewhere. The book is built on a simple and clear monetary model and uses this unified framework to systematically analyze various monetary issues. The author has added new content in the second edition, such as speculative shocks to money, the social security system, currency boards, central bank policy choices, payment systems, and the Lucas model under price surges. Many discussions of topics have been expanded, data has been significantly enriched, and exercises have been added.