Money and the natural rate of unemployment / Finn Ostrup.

Format:

Book

Author/Creator:

Østrup, Finn, author.

Language:

English

Subjects (All):

Unemployment--Effect of inflation on.

Unemployment.

Monetary policy.

Physical Description:

1 online resource (viii, 308 pages) : digital, PDF file(s).

Edition:

1st ed.

Other Title:

Money & the Natural Rate of Unemployment

Place of Publication:

Cambridge : Cambridge University Press, 2000.

Language Note:

English

Summary:

The prevailing view among economists and policy makers is that money has no impact on production in a longer term characterised by full price and wage flexibility and rational expectations. This book presents a revisionist view of monetary policy and monetary regimes. It presents several new mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed, including: the uses of monetary policy and monetary regimes in achieving macroeconomic goals; the impact of an independent central bank; the effects of a movement from floating exchange rates to fixed exchange rates in a monetary union. In addition to the theoretical and policy discussions the book also contains a comprehensive survey of the current state of scholarship in this area. Designed as a textbook for advanced undergraduate and graduate students in macroeconomics, labour economics and finance, this book will also appeal to scholars and policy-makers.

Contents:

Introduction

The literature

The wage formation process

Imperfect integration of securities markets

Monopolistic competition in bank markets

Utility from securities holdings

Hysteresis effects from monetary policy

The impact of inflation on bank earnings

Centralised wage formation

Fiscal policy

Price stability goal

Uncertainty concerning policy formation

Policy uncertainty in a fixed-but-adjustable exchange rate regime

The impact of uncertainty on wage setting

Policy implications of monetary non-neutrality.

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Includes bibliographical references (p. 285-303) and index.

ISBN:

1-107-11813-1

0-511-04871-8

0-521-66139-0

0-511-32831-1

0-511-49250-2

1-280-16208-2

0-511-15430-5

0-511-11801-5

OCLC:

475917805