Monetary Economics, Vol. 2

This book provides the most comprehensive overview of the field of monetary economics currently available, integrating applied and theoeretical approaches without loading unrealistic demands on its undergraduate audience.Key features include: a comparison of central banking and the wider financial systems in Europe, North America and developing countries including China and India theories and empirical studies of money demand, including precautionary and buffer stock models and monetary aggregation a detailed comparison of new Keynesian and modern classical macroeconomic theoretical and policy models a focus on the role of money and financial institutions and growth. New to this edition is an emphasis on the modification of macroeconomic analysis necessitated by use of the interest rate rather than the money supply as the main instrument of monetary policy, and the consequent replacement of IS-LM analysis by one without the LM curve.Handa, Jagdish is the author of 'Monetary Economics, Vol. 2', published 2008 under ISBN 9780415772099 and ISBN 0415772095.