Money Uncertainty And Time

This excellent new book from one of the brightest young economists, Giuseppe Fontana, involves a compendium of issues surrounding uncertainty, money and time. Fontana shines a post Keynesian light onto statements and claims made by well-known neo-classical authors and as such leaves readers with an interesting and informative book to be read and re-read by all those scholars and students involved with monetary economics.

Formal economic analysis using Shackle's ideas of historical time and nonprobabilistic uncertainty

A Post Keynesian critique of monetarism and of contemporary Keynesian theory, calling for a return to the original ideas of John Maynard Keynes. Its primary emphasis is on the endogeneity of the money supply and on the financial innovations that have served to limit the effectiveness of monetary policy. It calls for the addition of a selective control over the flow of credit in the economy as an addition to the conventional Keynesian contracyclical tools for keeping the economy at full employment, along with a recognition that inflation is a function of money wages and not the aggregate supply or money.

In this new and updated emergency and pandemic-focused edition, Kelley Keehn tackles how to spend, save, and plan for your future, even in times of economic uncertainty. No matter your age, salary, social or relationship status, money is an important part of your life. Yet, somehow, talking about your money situation is hard. Why is it that you know more about what goes on in your friend’s bedroom than with their bank account? Do you know if your parents have a will or if they’ll leave a legacy? How many of your colleagues are still paying off student debt but are jet-setting around the globe on multiple credit cards? Since no one is talking about it, you can’t be expected to learn how to manage your money on your own. With years of experience as a personal finance advisor and educator, Kelley Keehn will answer your most burning questions about money and will talk you through how to avoid mistakes along the way. You can gain control of your debt, learn to save for your future, have a life, and feel good about money all at the same time. And—spoiler alert—you don’t need a budget to do any of this! You’ll learn: -How to weather economic uncertainty and make wise financial choices during the pandemic -How to build good credit (and get rid of bad credit—especially credit card debt) -What all these dreaded acronyms mean and how they can work for you—TFSA, RRSP, RESP, CFP, CPP, CERB -How and when to invest for your future -How to talk about money with your partner—and everyone else in your life -How to save for a mortgage and then work towards being mortgage-free -How to have fun, splurge once in a while, and still save money With her unique blend of empathy and no-nonsense candor, Kelley takes you through the basics of personal finance with relatable anecdotes that expose the most common money pitfalls—and how to avoid them—so you can make financial decisions that are right for you.

Froyen and Guender have provided a thorough and careful analysis of optimal monetary policy over most of the range of theoretical models that have been used in modern macroeconomics. By providing a comprehensive and clear comparative framework they will help the student of monetary policy understand why there have been conflicting views of what policy makers should do. Central Banking In Optimal Monetary Policy Under Uncertainty, academicians and economists Richard T. Froyen and Alfred V. Guender have collaborated on presenting an informed and informative survey of optimal monetary policy literature arising during the 1970s and 1980s as a ground work for understanding current market and other economic influences on such germane issues as discretion versus commitment, target versus instrument rules, and the delegation of policy making authority within the private and public sectors. With meticulous attention to scholarship and objectivity. . . Optimal Monetary Policy Under Uncertainty is a thoughtful and thought-provoking body of work that is very strongly recommended for professional, academic, corporate and governmental economic reference collections and supplemental reading lists. Midwest Book Review Recently there has been a resurgence of interest in the study of optimal monetary policy under uncertainty. This book provides a thorough survey of the literature that has resulted from this renewed interest. The authors ground recent contributions on the science of monetary policy in the literature of the 1970s, which viewed optimal monetary policy as primarily a question of the best use of information, and studies in the 1980s that gave primacy to time inconsistency problems. This broad focus leads to a better understanding of current issues such as discretion versus commitment, target versus instrument rules, and the merits of delegation of policy authority. Casting a wide net, the authors survey the recent literature on the New Keynesian approach to optimal monetary policy in the context of the earlier literature. They emphasize the relationship between policy decisions and the information set available to the policymaker, a central focus of the earlier literature, obscured in much recent work. Optimal policy questions are considered in open as well as closed economy models and the often confusing terminology in the literature is sorted and clarified. Questions are considered within easily analysed models and the authors clearly show why these models lead to different (or equivalent) policy conclusions. Recent policy issues such as desirability of inflation targeting and the relative merits of target versus instrument rules are covered in detail. Economists in academia and in policymaking organizations who want to learn about recent developments in the area of optimal monetary policy, as well as graduate and advanced undergraduate students in macroeconomic and monetary economics, will find this volume a clear and thorough examination of the topic.

This book examines the role of uncertainty on financial decisions - and, consequently, on financial markets - in the buildup to and aftermath of the Great Recession. It tracks the significant growth and important structural changes in the financial sector during the past few decades, both of which made the economy more vulnerable to perceptions of risk in the markets. Halperin argues that conventional economic models have lost relevance by failing to take these developments into account appropriately, and also explains that because of financial globalization we can no longer understand what happens in the economies of major countries by relying on "closed-economy" thinking. The book concludes with a list of policy recommendations designed to increase the resilience of the financial markets to negative economic developments and to reduce incentives for risk taking, including a proposal to eliminate the double taxation of dividends.

This is a completely revised edition of the well-known monetary textbook. The book discusses the latest analytical developments in monetary economic theory in a comprehensible and practical policy- orientated form for graduates and undergraduates specialising in monetary economics. The book provides a comprehensive survey of monetary economics, with the first nine chapters primarily concerned with micro issues, such as the role of, and demand for, money, the role and functions of banks and of the Central Bank; and the final nine chapters covering macro-economic issues, such as the transmission mechanism of monetary policy and international monetary problems.