Money, Information and Uncertainty

A study of the role of money and the nature of markets in the modern, rapidly changing banking community. The text examines interest rates and financial regulations, the history and objectives of monetary policies and the effects of monetary changes on employment and inflation.

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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.