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BL
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| Record Number
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862031
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| Main Entry
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Cao, Jin,1977-
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| Title & Author
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Money : : theory and practice /\ Jin Cao, Gerhard Illing.
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| Publication Statement
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Cham :: Springer,, 2020.
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| Series Statement
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Springer Texts in Business and Economics
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| Page. NO
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1 online resource (412 pages)
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| ISBN
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3030196976
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: 9783030196974
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9783030196967
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| Notes
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Relation Between Different Seigniorage Concepts and the Government Wealth Constraint
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| Contents
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Intro; Preface; List of Chapters; Contents; 1: Long-Run Growth: The Basic Framework; 1.1 Introduction; 1.2 Dynamic Macro in a Two-Period Model; 1.2.1 The Wealth Constraint; Focus Box: The Fisher Relation; Focus Box: Inflation-Linked Bonds; 1.2.2 Inter-temporal Preferences; 1.2.3 Inter-temporal Demand: The Euler Equation; Focus Box: Constant Elasticity of Inter-temporal Substitution (CES) and the Optimal Consumption Path; 1.2.4 The Natural Rate of Interest; Summary for General Equilibrium; Focus Box for Nerds: Some Extreme Cases
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1.4.3 Example: Explicit Linearized Solution for Constant Elasticity of Substitution1.4.4 Firms Pricing Strategy: Price Setting Under Monopolistic Competition; 1.4.5 General Equilibrium: The Case of Flexible Prices; 1.4.6 Structural Inefficiencies: Comparison with the First Best Level of Production; 1.5 Summary; References; Part I: Money and Equilibrium in the Long Run; 2: Money and Long-Run Growth; 2.1 Introduction; Focus Box: Gold Standard and Other Media of Exchange; 2.2 Determinants of Price Level and Inflation; 2.2.1 Challenges for Simple Intuition
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2.2.2 The Cagan Model: Money Supply, Price Level, and Interest Rates2.2.3 Monetary Policy Experiments in the Cagan Model; 2.3 Optimal Monetary Policy: The Long-Run View; 2.3.1 Price Level Versus Inflation Targeting; 2.3.2 The Optimal Rate of Inflation; 2.3.3 Seigniorage; 2.4 Micro-Foundations for the Demand for Money; 2.4.1 The Cash-in-Advance Constraint; 2.4.2 Money in the Utility Function; Summary: The Money-in-the-Utility Approach (MIU); Focus Box for Nerds: Cash goods in a Cash-in-Advance Model (Optional Material); Focus Box for Nerds: Shopping Time Model (Optional Material)
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2.5 Bubbles and Self-Fulfilling Inflationary Expectations (In- ) Determinacy of the Price Level2.5.1 The No-Bubble Condition: Relevance of a Transversality Constraint; 2.5.2 Can We Rule Out Divergent Paths?; 2.5.3 Hyperinflationary Paths; 2.5.4 Example: CES Payoff Function; 2.6 Interest Rate Feedback Rules; 2.7 Summary; References; 3: Interaction Between Monetary and Fiscal Policy: Active and Passive Monetary Regimes; 3.1 Introduction; 3.2 A Brief Look at History; 3.3 Seigniorage; 3.4 The Governmentś Inter-temporal Budget Constraint; Focus Box: How to Derive Equation 3.4.2 from Equation 3.4.1
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Focus Box: Extension to Many (Infinite) Periods-No-Ponzi Games and Transversality Condition1.2.5 Heterogeneous Agents; 1.3 Government Spending, Taxes, and Public Debt; 1.3.1 The Role of Fiscal Policy; 1.3.2 Ricardian Equivalence: The Irrelevance of Government Debt; Focus Box: The Optimal Provision of Public Goods; 1.4 Endogenous Production: The Labor Market; 1.4.1 The Consumerś Choice; 1.4.2 Monopolistic Distortions: Market Power on the Product Market; Focus Box for Nerds: Monopolistic Competition a la Dixit/Stiglitz (Popular Among Central Bank Academics)-Optional Material
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| Subject
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Money-- Philosophy.
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| Subject
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Money-- Philosophy.
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| Dewey Classification
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332.401
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| LC Classification
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HG220.3
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| Added Entry
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Illing, Gerhard.
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