Towards a New Paradigm in Monetary Economics (Raffaele Mattioli Lectures) [Paperback]

Joseph Stiglitz (Author), Bruce Greenwald (Author)

Book Description

Publication Date: September 29, 2003 | ISBN-10: 0521008050 | ISBN-13: 978-0521008051

Expanding upon the literature of new institutional economics, the first part of this study stresses the significance of imperfections in information, bankruptcy and banks. The second part examines the policy implications of the new paradigm emphasizing loanable fund demand and supply, and demonstrates its relevance to our understanding of two recent historical episodes--the East Asian financial crisis and the 1991 U.S. recession and subsequent recovery and boom.

Editorial Reviews

Review

'... recommended reading for all monetary economists and practitioners alike.' International Affairs

'Overall this is an excellent contribution to our understanding of the functioning of modern financial markets. It will become essential reading for students, researchers, practitioners and policy-makers with an interest in the behaviour of monetary and financial systems.' Journal of International Development

Book Description

Argues for a theory of monetary economics which emphasises the importance of the demand and supply of loanable funds and the role of credit. Expanding upon the literature of new institutional economics, the first part of the book stresses the significance of imperfections in information, bankruptcy and banks. The second part examines the policy implications of the new paradigm and demonstrates its relevance to our understanding of two recent historical episodes--the East Asian financial crisis and the 1991 US recession and subsequent recovery and boom.

See all Editorial Reviews

Product Details

• Paperback: 344 pages
• Publisher: Cambridge University Press (September 29, 2003)
• Language: English
• ISBN-10: 0521008050
• ISBN-13: 978-0521008051
• Product Dimensions: 8.6 x 5.5 x 0.8 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #1,274,276 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

13 of 19 people found the following review helpful:

5.0 out of 5 stars Learn current Banking Reality & What the Future Holds, April 23, 2005

By 

Jay "xglyde" (San Diego, CA United States) - See all my reviews

This review is from: Towards a New Paradigm in Monetary Economics (Raffaele Mattioli Lectures) (Paperback)

First off I am not a not an economist. Bought this book because I am very interested in how current monetary system works and what the future holds. This book fortunatly covers both topics; in great detail. The book goes over the advantages and disadvantages of the current way, how banks lend to grow the economy. It then goes over how that is being transformed and what we can expect in the future. The book is not as dry as most hard-core academic books, it is readible. My goal is to have a broad understanding of how the financial system of our world works, and this book did a great job of helping me understand. It does have a few advanced mathematical equations, I do not know how to solve them but they were very well explained...so at least I do understand what the equations are for. Great book it might be worth it to look for more books in the Raffaele Mattioli Lecture series.