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Klappentext New Approaches to Monetary Economics brings together presentations of innovative research in the field of monetary economics. Zusammenfassung New Approaches to Monetary Economics brings together presentations of innovative research in the field of monetary economics. Much of this research develops and applies approaches to modelling financial intermediation! aggregate fluctuations! monetary aggregation and transactions-motivated monetary equilibrium. Inhaltsverzeichnis Editors' introduction; List of contributors; Part I. Transactions motivated monetary holdings in general equilibrium; 1. Monetary dynamics with proportional transaction costs and fixed payment periods Sanford J. Grossman; 2. A multiple means-of-payment model Edward C. Prescott; 3. Credit policy and the price level in a cash-in-advance economy Michael Woodford; Part II. Financial Intermediation; 4. Preference shocks, liquidity and central bank policy Sudipto Bhattacharya and Douglas Gale; 5. Banking and macroeconomic equilibrium Ben Bernanke and Mark Gertler; Part III. Monetary aggregation theory; 6. The microeconomic theory of monetary aggregation William A. Barnett; 7. Monetary asset separability tests Apostolos Serletis; 8. Money demand in open economies: a Divisia application to the U.S. case Jaime Marquez; 9. Aggregation of monetary goods: a production model Diana Hancock; 10. Money in the utility function: an empirical implementation James M. Poterba and Julio J. Rotemberg; 11. Comment on papers in Part III William A. Barnett; Part IV: Issues on aggregate fluctuations; 12. Asset prices in a time-series model with disparately informed, competitive traders Kenneth J. Singleton; 13. Nominal surprises, real factors and propagation mechanisms Robert G. King and Charles I. Plosser; 14. A rational expectations framework for short-run policy analysis Christopher A. Sims; Part V: Theoretical issues in the foundations of monetary economics and macroeconomics; 15. Pricing and the distribution of money holdings in a search economy, II Peter Diamond and Joel Yellin; 16. The optimal inflation rate in an overlapping-generations economy with land Bennett T. McCallum; 17. Some unsolved problems for monetary theory Neil Wallace; 18. Externalities associated with nominal price and wage rigidities John B. Taylor....
