Constructing Monetary Economy Models (Second Edition)

Author: Bruce K. P. Freund (USA)
Publisher:
Publish Date: 2004-03-01
Features: This book teaches monetary economics using classic examples of rational individuals in the market, targeting upper-level undergraduate students. Monetary economics is often taught as a series of facts about the current system that students need to memorize. Starting from principles, the author's goal is not only to inform students about the current monetary policy and system in the United States but also to prepare them for future or other possible policies and systems elsewhere. The book is built on a simple and clear monetary model and uses this unified framework to systematically analyze various monetary issues. In the second edition, the author has added new content, 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 have been expanded, data has been significantly enriched, and exercises have been added.