Neuware -The 2007 financial crisis and the Great Recession have prompted a debate about the state of macroeconomics, and many orthodox economists have argued that macroeconomics has entered a Dark Age. This book discusses the shortcomings of the standard macroeconomic model (SMM). The SMM failed to explain the real world and anticipate the global financial crises. The main reasons for this failure have been attributed to its inability to assign an active role of money and by the absence of appropriate modelling of financial markets. The book also discusses how the SMM can be reformed to better account for the real world and policy prescriptions, such as the Chicago Plan, that can reduce the risks emanating from excessive money creation by banks. 146 pp. Englisch.

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T�tulo

Money Matters

Editor

Peter Lang, Peter Lang Jun 2017

Fecha de publicaci�n

2017

Idioma

Ingl�s

ISBN 10

3631721455

ISBN 13

9783631721452

Encuadernaci�n

Taschenbuch

Estado

Neu

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Sinopsis

This book discusses the shortcomings of the standard macroeconomic model (SMM). The SMM failed to explain the real world and anticipate the global financial crises. The main reason for these failures was the lack, in the SMM, of any role of money and the way the financial sector works.

Acerca del autor

Syed F. Mahmud is a professor of economics at Bilkent University. He holds a Ph.D. degree in economics from McMaster University (Canada). In recent years, his research has been primarily focused on banking and finance.

Kaoru Yamaguchi is Director at Japan Futures Research Center. He holds a Ph.D. degree in economics from the University of California, Berkeley.

Murat Y�lek is a professor of economics at Istanbul Ticaret University and the Director of the Center for Industrial Policy and Development. He holds a Ph.D. degree in economics from Bilkent University and has published widely in the field of economic and financial development.

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