Synopsis
The second edition of this successful textbook provides students with a comprehensive and practical grounding of monetary economics. The authors view money supply as endogenous and focus on the role of central banks meaning that discussion of theory and real world policy are closely linked throughout the book.
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Review
The current financial crisis has thrown the inadequacies of much standard analysis, and not least the mechanical multiplier model of money creation, into sharp relief. Never has a text on monetary economics based on a more realistic model in which banks create money been more needed. Bain and Howells focus on monetary policy, and in particular the control of short term interest rates, and introduce monetary theory as a means of understanding how, why and when monetary policy works. This is theory with a purpose. - Professor Richard Jackman, LSE
Book Description
The second edition of this successful textbook closely links discussion of theory and real world policy, providing students with a comprehensive and practical grounding of monetary economics
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