View source for Finance:Monetary economics

{{Short description|Branch of economics covering theories of money}}
{{POV|date=September 2018}}
'''Monetary economics''' is the branch of [[Finance:Economics|economics]] that studies the different theories of money: it provides a framework for analyzing [[Finance:Money|money]] and considers its functions (such as [[Finance:Medium of exchange|medium of exchange]], [[Finance:Store of value|store of value]], and [[Finance:Unit of account|unit of account]]), and it considers how money can gain acceptance purely because of its convenience as a [[Finance:Public good (economics)|public good]].{{r|tobin}} The discipline has historically prefigured, and remains integrally linked to, [[Finance:Macroeconomics|macroeconomics]].{{r|dimand}} This branch also examines the effects of [[Finance:Monetary system|monetary system]]s, including regulation of money and associated [[Finance:Financial institution|financial institution]]s{{r|boyd}} and international aspects.{{r|black}}

Modern analysis has attempted to provide [[Finance:Microfoundations|microfoundations]] for the demand for money{{r|baumol}} and to distinguish valid nominal and real monetary relationships for micro or macro uses, including their influence on the  [[Aggregate demand|aggregate demand]] for output.<ref>• Robert Clower, 1967. "A Reconsideration of the Microfoundations of Monetary Theory," ''Western Economic Journal'', 6(1), pp. [https://web.archive.org/web/20200308210419/https://www.ssc.uwo.ca/economics/grad/533b-001/Notes/Clower_1967.pdf 1-8.]<br/>&nbsp;&nbsp; • _____, 1987.  ''Money and Markets''. Cambridge. [https://books.google.com/books?id=7CQ4AAAAIAAJ Description] {{Webarchive|url=https://web.archive.org/web/20230116150118/https://books.google.com/books?id=7CQ4AAAAIAAJ |date=2023-01-16 }} and  [https://books.google.com/books?id=7CQ4AAAAIAAJ&q=robert+clower+monetary chapter-preview.] {{Webarchive|url=https://web.archive.org/web/20230116150115/https://books.google.com/books?id=7CQ4AAAAIAAJ&printsec=frontcover&dq=robert+clower+monetary#PPA15,M1 |date=2023-01-16 }}<br/>&nbsp;&nbsp; • David Laidler, 1988. "Taking Money Seriously," ''Canadian Journal of Economics'', 21(4), pp. 687–713. {{JSTOR|135258}}<br/>&nbsp;&nbsp; • _____, 1993.  ''The Demand for Money: Theories, Evidence, and Problems'', 4th ed. [https://www.amazon.co.uk/dp/0065010981 Description.] {{Webarchive|url=https://web.archive.org/web/20230116150104/https://www.amazon.co.uk/dp/0065010981 |date=2023-01-16 }}<br/>&nbsp;&nbsp; • _____, 1997. "Notes on the Microfoundations of Monetary Economics," ''Economic Journal'', 107(443), pp. 1213–1223. {{JSTOR|2957862}}<br/>&nbsp;&nbsp; • Don Patinkin, 1965, 2nd ed.  ''Money, Interest and Prices: An Integration of Monetary and Value Theory''. New York: Harper and Row.  Introduction to 1990 MIT edition ([http://www.econ.ucla.edu/workingpapers/wp557.pdf PDF] {{Webarchive|url=https://web.archive.org/web/20210917135925/http://www.econ.ucla.edu/workingpapers/wp557.pdf |date=2021-09-17 }}), and 1991  [https://doi.org/10.3386/w3595 evaluation] {{Webarchive|url=https://web.archive.org/web/20230116150103/https://www.nber.org/system/files/working_papers/w3595/w3595.pdf |date=2023-01-16 }} by Stanley Fischer.<br/>&nbsp;&nbsp; • [[Biography:Michael Woodford (economist)|Michael Woodford]], 2003. ''Interest and Prices: Foundations of a Theory of Monetary Policy'', Princeton University Press. [http://press.princeton.edu/titles/7603.html Description] {{Webarchive|url=https://web.archive.org/web/20190919110146/https://press.princeton.edu/titles/7603.html |date=2019-09-19 }} and [http://press.princeton.edu/TOCs/c7603.html Table of Contents.] {{Webarchive|url=https://web.archive.org/web/20090225194841/http://press.princeton.edu/TOCs/c7603.html |date=2009-02-25 }}.</ref> Its methods include deriving and testing the implications of money as a substitute for other assets<ref>• James Tobin, 1969.  "A General Equilibrium Approach To Monetary Theory," ''Journal of Money, Credit and Banking'', 1(1), pp. [http://www.deu.edu.tr/userweb/yesim.kustepeli/dosyalar/tobin1969.pdf 15-29.] {{Webarchive|url=https://web.archive.org/web/20150923214011/http://www.deu.edu.tr/userweb/yesim.kustepeli/dosyalar/tobin1969.pdf |date=2015-09-23 }}<br/>&nbsp;&nbsp; • _____ with Stephen S. Golub, 1998.  ''Money, Credit, and Capital''. Irwin/McGraw-Hill. [http://catdir.loc.gov/catdir/toc/mh022/97003766.html TOC.] {{Webarchive|url=https://web.archive.org/web/20110721044951/http://catdir.loc.gov/catdir/toc/mh022/97003766.html |date=2011-07-21 }}<br/>&nbsp;&nbsp; • Stephen M. Goldfeld and Daniel E. Sichel, 1990.  "The Demand for Money," in ''Handbook of Monetary Economics'', v. 1, pp. 299-356. [http://www.sciencedirect.com/science/article/B7P60-4FKY4SC-C/2/33bdc81e7e4056e6951bb312a0c02320 Outline.]{{Dead link|date=September 2021 |bot=InternetArchiveBot |fix-attempted=yes }} Elsevier.<br/>&nbsp;&nbsp; • Subramanian S. Sriram, 2001.  "A Survey of Recent Empirical Money Demand Studies," ''IMF Staff Papers'', 47(3). International Monetary Fund. [http://www.imf.org/external/pubs/ft/staffp/2001/01/pdf/Sriram.pdf pp. 334-65.] {{Webarchive|url=https://web.archive.org/web/20210425093059/https://www.imf.org/external/pubs/ft/staffp/2001/01/pdf/Sriram.pdf |date=2021-04-25 }}</ref> and as based on explicit frictions.<ref>• Robert M. Townsend, 1980.  "Models of Money with Spatially Separated Agents," in John H. Kareken and Neil Wallace, ed.,  ''Models of Monetary Economies'' pp. [http://www.mpls.frb.org/publications_papers/books/models/pcc265.pdf 265-303.] {{webarchive|url=https://web.archive.org/web/20110726063642/http://www.mpls.frb.org/publications_papers/books/models/pcc265.pdf |date=2011-07-26 }} Federal Reserve Bank of Minneapolis.<br />&nbsp;&nbsp; • Neil Wallace, 2001.  "Whither Monetary Economics?," ''International Economic Review'', 42(4), pp. [https://www.jstor.org/pss/826976 p. 847] {{Webarchive|url=https://web.archive.org/web/20230116150103/https://www.jstor.org/stable/826976 |date=2023-01-16 }}-869.<br />&nbsp;&nbsp; • Ricardo Lagos and Randall Wright, 2005.  "A Unified Framework for Monetary Theory and Policy Analysis," ''Journal of Political Economy'', 113(3], pp. [http://www.econ.queensu.ca/students/phds/liuqian/MRG/Fall_2007/Lagos_Wright2005.pdf 463-84.] {{webarchive|url=https://web.archive.org/web/20090319235046/http://www.econ.queensu.ca/students/phds/liuqian/MRG/Fall_2007/Lagos_Wright2005.pdf |date=2009-03-19 }}</ref>

==History==
{{Further|Finance:Quantity theory of money}}

The foundational concept of any modern '''theory of money''' is the understanding that the value of [[Finance:Fiat money|fiat money]] depends upon exchange and not weight (compare with the Arrow-Debreu model).<ref>{{cite book |last1=Sargent |first1=Thomas J. |title=The Princeton Economic History of the Western World |publisher=Princeton University Press |date=2001 |page=69 |quote=...the competitive equilibrium model of Arrow (1951) and Debreu (1954) has no role for fiat money, an asset that is valued only because it facilitates exchange. In the Arrow-Debreu model, all exchanges occur through a frictionless credit system. Credit works so well that no coins or notes are ever required for exchange. The Arrow-Debreu model would make coins worth the metal they contain.}}</ref>

==Research areas==

Traditionally, research areas in monetary economics have included:

*Empirical determinants and measurement of the [[Finance:Money supply|money supply]], whether narrowly, broadly, or index-aggregated, in relation to economic activity{{r|wil}}
* Empirical determinants of the demand for money.
*[[Finance:Credit theory of money|Credit theory of money]] (also called debt theory of money), concerning the relationship between credit and money.
*[[Finance:Debt deflation|Debt deflation]] and [[Finance:Balance sheet|balance-sheet]] theories, which hypothesize that over-extension of credit associated with a subsequent asset-price fall generate business fluctuations through the wealth effect on net worth.{{r|bernanke}}{{r|n4}}
* Monetary aspects studied by [[Finance:Central bank|central bank]]s.{{r|n3}}
* The monetary/[[Finance:Fiscal policy|fiscal policy]] relationship to macroeconomic stability{{r|pal2}}
* The effect of money supply growth on [[Finance:Inflation|inflation]].
* The [[Finance:Political economy#Current approaches|political economy]] of [[Finance:Financial regulation|financial regulation]] and monetary policy{{r|n1}}
* Monetary implications of the asset-price/macroeconomic relation:{{r|mat}} the [[Finance:Quantity theory of money|quantity theory of money]],<ref>Milton Friedman, [1987] 2008.  "quantity theory of money." ''The New Palgrave Dictionary of Economics''. 2nd Edition.  [http://www.dictionaryofeconomics.com/article?id=pde2008_Q000006&q=&result_number=1 Abstract.] {{Webarchive|url=https://web.archive.org/web/20160303204206/http://www.dictionaryofeconomics.com/article?id=pde2008_Q000006&q=&result_number=1 |date=2016-03-03 }} Arrow-page searchable [https://books.google.com/books?id=jTx3VZd0T8oC&dq=+norton&pg=PA1 preview] {{Webarchive|url=https://web.archive.org/web/20230116150118/https://books.google.com/books?id=jTx3VZd0T8oC&pg=PA1&lpg=PR5&dq=+norton |date=2023-01-16 }} at John Eatwell ''et al.'', 1989, ''Money: The New Palgrave'', pp. 1-40.</ref> [[Finance:Monetarism|monetarism]],<ref>• Bennett T. McCallum, 2008. "Monetarism," ''Concise Encyclopedia of Economics'', 2nd ed.<br />&nbsp;&nbsp; • [[Biography:Phillip D. Cagan|Phillip Cagan]], 1987.  "monetarism,"  ''The New Palgrave: A Dictionary of Economics'', v. 3, pp.&nbsp;492–97.  [http://www.dictionaryofeconomics.com/article?id=pde2008_M000191&q=Monetarism%20&topicid=&result_number=1 Table of Contents.] {{Webarchive|url=https://web.archive.org/web/20160303204155/http://www.dictionaryofeconomics.com/article?id=pde2008_M000191&q=Monetarism%20&topicid=&result_number=1 |date=2016-03-03 }} Reprinted in John Eatwell et al., 1989), ''Money: The New Palgrave'', pp. [https://books.google.com/books?id=mFe17okC_EcC&dq=%22&pg=PA195 195] {{Webarchive|url=https://web.archive.org/web/20230116150116/https://books.google.com/books?id=mFe17okC_EcC&pg=PA195&lpg=PA195&dq=%22&source=bl&ots=PZwtf2Lciz&sig=_PIxoCi_sC0gjrykJbuBvTIGpjU&hl=en&ei=NTGoSd28J5jAtgf1q-3oDw&sa=X&oi=book_result&resnum=3&ct=result |date=2023-01-16 }}-[https://books.google.com/books?id=mFe17okC_EcC&dq=%22&pg=PA195 205.] {{Webarchive|url=https://web.archive.org/web/20230116150116/https://books.google.com/books?id=mFe17okC_EcC&pg=PA195&lpg=PA195&dq=%22&source=bl&ots=PZwtf2Lciz&sig=_PIxoCi_sC0gjrykJbuBvTIGpjU&hl=en&ei=NTGoSd28J5jAtgf1q-3oDw&sa=X&oi=book_result&resnum=3&ct=result#PPA205,M1 |date=2023-01-16 }}<br />&nbsp;&nbsp; • Jerome L. Stein, ed., 1976. ''Monetarism''. Elsevier.</ref> and the importance and stability of the relation between the money supply and interest rates, the [[Finance:Price level|price level]], and nominal and real output of an economy.<ref>• [[Biography:Benjamin M. Friedman|Benjamin M. Friedman]], 2008. "money supply," ''The New Palgrave Dictionary of Economics'', 2nd Edition. v. 5, pp. 745-51. [http://www.dictionaryofeconomics.com/article?id=pde2008_M000236&q=monetary%20economics%20&topicid=&result_number=55 Abstract.] {{Webarchive|url=https://web.archive.org/web/20160303225244/http://www.dictionaryofeconomics.com/article?id=pde2008_M000236&q=monetary%20economics%20&topicid=&result_number=55 |date=2016-03-03 }}<br />&nbsp;&nbsp; • [[Biography:Clark Warburton|Clark Warburton]], 1966.  ''Depression, Inflation, and Monetary Policy: Selected Papers, 1945-1953''. Johns Hopkins Press. [https://web.archive.org/web/20130117084348/https://www.nber.org/chapters/c7504.pdf Evaluation] in Anna J. Schwartz, ''Money in Historical Perspective'', 1987.<br />&nbsp;&nbsp; • Milton Friedman and Anna Jacobson Schwartz, 1963.  ''A Monetary History of the United States, 1867-1960''. Princeton. Page-searchable links to chapters on [https://books.google.com/books?id=Q7J_EUM3RfoC&dq=%22A+Monetary+History+of+the+United+States,+1867-1960%22&pg=PR9 1929-41] {{Webarchive|url=https://web.archive.org/web/20230116150117/https://books.google.com/books?id=Q7J_EUM3RfoC&pg=PR9&lpg=PP1&dq=%22A+Monetary+History+of+the+United+States,+1867-1960%22 |date=2023-01-16 }} and [https://books.google.com/books?id=Q7J_EUM3RfoC&dq=%22A+Monetary+History+of+the+United+States,+1867-1960%22&pg=PR10 1948-60.] {{Webarchive|url=https://web.archive.org/web/20230116150125/https://books.google.com/books?id=Q7J_EUM3RfoC&pg=PR10&lpg=PP1&dq=%22A+Monetary+History+of+the+United+States,+1867-1960%22 |date=2023-01-16 }}<br />&nbsp;&nbsp; • [[Biography:James Tobin|James Tobin]], 1970. "Money and Income: Post Hoc Ergo Propter Hoc?" ''Quarterly Journal of Economics'', 84(2), pp. [http://pascal.iseg.utl.pt/~mabreu/mtm/doc/CopiaAula1%20Tobin%201970.pdf 301-317.] {{Webarchive|url=https://web.archive.org/web/20130516102643/http://pascal.iseg.utl.pt/~mabreu/mtm/doc/CopiaAula1%20Tobin%201970.pdf |date=2013-05-16 }}<br />&nbsp;&nbsp; • [[Biography:Christopher A. Sims|Christopher A. Sims]], 1972. "Money, Income, and Causality," ''American Economic Review'', 62(4), pp. [http://www.sonoma.edu/users/c/cuellar/econ411/Sims.pdf 540-552.] {{Webarchive|url=https://web.archive.org/web/20160304190627/http://www.sonoma.edu/users/c/cuellar/econ411/Sims.pdf |date=2016-03-04 }}<br />&nbsp;&nbsp; • _____, 1980. "Comparison of Interwar and Postwar Business Cycles: Monetarism Reconsidered,"
''American Economic Review'', 70(2), pp. [https://www.jstor.org/pss/1815476 250] {{Webarchive|url=https://web.archive.org/web/20230116150105/https://www.jstor.org/stable/1815476 |date=2023-01-16 }}-257.<br />&nbsp;&nbsp; • _____, 2011. [http://sims.princeton.edu/yftp/Nobel/NobelLect.pdf "Statistical Modeling of Monetary Policy and its Effects"] {{Webarchive|url=https://web.archive.org/web/20210413131318/http://sims.princeton.edu/yftp/Nobel/NobelLect.pdf |date=2021-04-13 }}, Nobel Prize lecture.<br />&nbsp;&nbsp; • John P. Judd and John L. Scadding, 1982.  "The Search for a Stable Money Demand Function: A Survey of the Post-1973 Literature," ''Journal of Economic Literature'', 20(3), pp. [https://www.jstor.org/pss/2724409 993] {{Webarchive|url=https://web.archive.org/web/20230116150642/https://www.jstor.org/stable/2724409 |date=2023-01-16 }}-1023.<br />&nbsp;&nbsp; • Christina D. Romer and David H. Romer, 1989. "Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz,", ''NBER Macroeconomics Annual 1989'', 4, downloadable at [https://www.nber.org/books/blan89-1 ch. 3] {{Webarchive|url=https://web.archive.org/web/20200804022250/https://www.nber.org/books/blan89-1 |date=2020-08-04 }} and at  ''Journal of Monetary Economics'', 1994, 34(1), pp. 75-88. [http://en.scientificcommons.org/22001742 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120327101741/http://en.scientificcommons.org/22001742 |date=2012-03-27 }}<br />&nbsp;&nbsp; • Dennis L. Hoffman, Robert H. Rasche, and Margie A. Tieslau, 1995. "The Stability of Long-run Money Demand in Five Industrial Countries,"  ''Journal of Monetary Economics'', 35(2), pp. 317-339 [https://archive.today/20130201231321/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBW-3YMWMX9-B&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=c7937a0ed73456dceb01c6f296dc0be3 Abstract.]<br />&nbsp;&nbsp; • Robert G. King and Charles I. Plosser, 1984. "Money, Credit, and Prices in a Real Business Cycle," ''American Economic Review'', 74(3), pp. [https://www.jstor.org/pss/1804013 363]-380.  Reprinted in Finn E. Kydland, ed., 1995.  ''Business Cycle Theory'', pp. [https://books.google.com/books?id=H1NbKtqz_BwC&pg=PA136 136-55.] {{Webarchive|url=https://web.archive.org/web/20230116150643/https://books.google.com/books?hl=en&lr=&id=H1NbKtqz_BwC&oi=fnd&pg=PA136&ots=20xTFEMfiC&sig=BUyb6wakpqC10x8rPW1sIsmnGXE |date=2023-01-16 }}<br />&nbsp;&nbsp; • Tack Yun, 1996.  "Nominal Price Rigidity, Money Supply Endogeneity, and Business Cycles," ''Journal of Monetary Economics'', 37{2}, pp.&nbsp;345–70. [https://archive.today/20130201211928/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBW-4CYXSBK-9&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=5b9e1de0a1b8aa84887f9ec3ba71e1f1 Abstract.]<br />&nbsp;&nbsp; • Arturo Estrella and Frederic S. Mishkin, 1997. "Is There a Role for Monetary Aggregates in the Conduct of Monetary Policy?" ''Journal of Monetary Economics'', 40(2), pp. 279-304. [https://archive.today/20130202000208/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBW-3SWSJP8-5&_user=10&_coverDate=10/31/1997&_rdoc=1&_fmt=high&_orig=search&_sort=d&_docanchor=&view=c&_rerunOrigin=scholar.google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=6a1b559a31f2f9cfad04cf6042c37783 Abstract.]</ref>

* Monetary impacts on interest rates and the [[Finance:Yield curve|term structure of interest rates]]<ref>• Robert Mundell, 1963.  "Inflation and Real Interest," ''Journal of Political Economy'', 71(3), pp. [http://econ.pku.edu.cn/jiaoyuan/teacher/adminteacher/documents_file/3969/3969.pdf pp. 280-283.] {{webarchive|url=https://web.archive.org/web/20090319235047/http://econ.pku.edu.cn/jiaoyuan/teacher/adminteacher/documents_file/3969/3969.pdf |date=2009-03-19 }} [http://www.robertmundell.net/books/main.asp?Title=Inflation%20and%20Real%20Interest Briefer description.] {{Webarchive|url=https://web.archive.org/web/20070831171542/http://www.robertmundell.net/books/main.asp?Title=Inflation%20and%20Real%20Interest |date=2007-08-31 }}<br />&nbsp;&nbsp; • Burton G. Malkiel, [1987]  2008. "term structure of interest rates," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_T000042&q=term%20structure%20of%20interest%20rates&topicid=&result_number=1 Abstract.]<br />&nbsp;&nbsp; • Michael W. Brandt and David A. Chapman, 2008. "affine term structure models," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_A000239&q=term%20structure%20of%20interest%20rates&topicid=&result_number=2 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120326015844/http://www.dictionaryofeconomics.com/article?id=pde2008_A000239&q=term%20structure%20of%20interest%20rates&topicid=&result_number=2 |date=2012-03-26 }}<br />&nbsp;&nbsp; • William Poole, 2005. [http://www.stlouisfed.org/news/speeches/2005/6_14_05.html "Understanding the Term Structure of Interest Rates,"] {{Webarchive|url=https://web.archive.org/web/20080808135258/http://stlouisfed.org/news/speeches/2005/6_14_05.html |date=2008-08-08 }} speech, New York, Money Marketeers, The Down Town Association.<br />&nbsp;&nbsp; • Bennett T. McCallum,  2005. "Monetary Policy and the Term Structure of Interest Rates," ''Economic Quarterly'', 91(4), pp. [http://www.richmondfed.org/publications/research/economic_quarterly/2005/fall/pdf/mccallum.pdf 1-21.] {{Webarchive|url=https://web.archive.org/web/20110927095922/http://www.richmondfed.org/publications/research/economic_quarterly/2005/fall/pdf/mccallum.pdf |date=2011-09-27 }} Federal Reserve Bank of Richmond.<br />&nbsp;&nbsp; • Kenneth N. Kuttner, 2001. "Monetary Policy Surprises and Interest Rates: Evidence from the Fed Funds Futures Market," ''Journal of Monetary Economics'', 47(3), pp. 523-544.  [https://archive.today/20130201222343/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBW-438BR26-5&_user=10&_coverDate=06/30/2001&_rdoc=1&_fmt=high&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId=1250095287&_rerunOrigin=scholar.google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=bb9401deb5bca550c519c4cc76529746 Abstract.]<br />&nbsp;&nbsp; • 2004.  ''Interest Rates and Monetary Policy''. Conference, Federal Reserve Bank of San Francisco and Stanford Institute for Economic Policy Research.  [http://www.frbsf.org/publications/economics/letter/2004/el2004-13.html#subhead1 Summary] and session  [http://www.frbsf.org/economics/conferences/0403/index.html links.] {{Webarchive|url=https://web.archive.org/web/20090520151423/http://www.frbsf.org/economics/conferences/0403/index.html |date=2009-05-20 }}</ref>
* Lessons of monetary/financial history<ref>• Michael D. Bordo, 2008. "monetary policy, history of," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_H000180&edition=current&q=real%20%20nominal&topicid=&result_number=40 Abstract] {{Webarchive|url=https://web.archive.org/web/20160304112700/http://www.dictionaryofeconomics.com/article?id=pde2008_H000180&edition=current&q=real%20%20nominal&topicid=&result_number=40|date=2016-03-04}} and [http://michael.bordo.googlepages.com/TheHistoryofMonetaryPolicy.pdf pre-publication copy.] {{Webarchive|url=https://web.archive.org/web/20160304112700/http://www.dictionaryofeconomics.com/article?id=pde2008_H000180&edition=current&q=real%20%20nominal&topicid=&result_number=40|date=2016-03-04}}<br />&nbsp;&nbsp; • John Kenneth Galbraith, 1975. ''Money: Whence it Came, Where it Went'', Houghton Mifflin. {{ISBN|0-7351-0070-5}}} [http://lachlan.bluehaze.com.au/books/galbraith_money.html Extracts] {{Webarchive|url=https://web.archive.org/web/20100523114345/http://lachlan.bluehaze.com.au/books/galbraith_money.html|date=2010-05-23}} and review extracts.[http://ann.sagepub.com/cgi/pdf_extract/424/1/163][https://www.jstor.org/pss/1992011] {{Webarchive|url=https://web.archive.org/web/20230116150646/https://www.jstor.org/stable/1992011|date=2023-01-16}}<br />&nbsp;&nbsp; • Gauti B. Eggertsson, 2008. "liquidity trap," .''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_L000237&edition=current&q=liquidity%20trap&topicid=&result_number=1 Abstract.]<br />&nbsp;&nbsp; • Athanasios Orphanides, 2004. "Monetary Policy in Deflation: The Liquidity Trap in History and Practice," ''North American Journal of Economics and Finance'', 15(1), pp. 101-124. [http://www.sciencedirect.com/science/article/pii/S10629408030005249 Abstract].<br />&nbsp;&nbsp; • Ben S. Bernanke, 2000,  "Japanese Monetary Policy: A Case of Self-Induced Paralysis?" ch. 7, pp. [http://www.piie.com/publications/chapters_preview/319/7iie289X.pdf 149-66] {{Webarchive|url=https://web.archive.org/web/20121103193824/http://www.piie.com/publications/chapters_preview/319/7iie289X.pdf|date=2012-11-03}} in ''Japan's Financial Crisis and Its Parallels to US Experience'', Adam S. Posen and Ryoichi Mikitani, ed.<br />&nbsp;&nbsp; • _____, 2003. [http://www.federalreserve.gov/boarddocs/speeches/2003/20030531/default.htm_____, "Some Thoughts on Monetary Policy in Japan,"]{{Dead link|date=June 2022|bot=InternetArchiveBot|fix-attempted=yes}} May 31, (speech) Federal Reserve Board.<br />&nbsp;&nbsp; • _____, 2005. ''Essays on the Great Depression'', ch. 1-4. Princeton. [http://press.princeton.edu/titles/6817.html Description] {{Webarchive|url=https://web.archive.org/web/20100329133459/http://press.princeton.edu/titles/6817.html|date=2010-03-29}},  [http://press.princeton.edu/TOCs/c6817.html TOC] {{webarchive|url=https://web.archive.org/web/20100119050606/http://press.princeton.edu/TOCs/c6817.html|date=2010-01-19}}, and ch. 1, " The Macroeconomics of the Great Depression,"  [http://press.princeton.edu/chapters/s6817.html preview.] {{webarchive|url=https://web.archive.org/web/20100704124101/http://press.princeton.edu/chapters/s6817.html|date=2010-07-04}}<br />&nbsp;&nbsp; • Satyajit Chatterjee and P. Dean Corbae, 2008. "Great Depression, monetary and financial forces in," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_M000398&q=great%20depression&topicid=&result_number=2 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120326015438/http://www.dictionaryofeconomics.com/article?id=pde2008_M000398&q=great%20depression&topicid=&result_number=2|date=2012-03-26}}<br />&nbsp;&nbsp; • G.J. Santoni, 1987. "The Great Bull Markets 1924-29 and 1982-87: Speculative Bubbles or Economic Fundamentals?" Federal Reserve Bank of St. Louis ''Review'', November, pp. [http://research.stlouisfed.com/publications/review/87/11/Bull_Nov1987.pdf 16-30.]{{dead link|date=September 2018|bot=medic}}{{cbignore|bot=medic}}<br />&nbsp;&nbsp; • Richard C. Koo, 2008. ''The Holy Grail of Macro Economics: Lessons From Japan's Great Recession'', Wiley. [http://search.barnesandnoble.com/The-Holy-Grail-of-Macro-Economics/Richard-C-Koo/e/9780470823873 Description] {{Webarchive|url=https://web.archive.org/web/20110608004729/http://search.barnesandnoble.com/The-Holy-Grail-of-Macro-Economics/Richard-C-Koo/e/9780470823873|date=2011-06-08}} and [http://www.foreignaffairs.com/articles/63433/richard-n-cooper/the-holy-grail-of-macro-economics-lessons-from-japans-great-rece Review.] {{Webarchive|url=https://web.archive.org/web/20100611061615/http://www.foreignaffairs.com/articles/63433/richard-n-cooper/the-holy-grail-of-macro-economics-lessons-from-japans-great-rece|date=2010-06-11}}<br />&nbsp;&nbsp; • Carmen M. Reinhart and Kenneth S. Rogoff, 2009.  ''This Time Is Different: Eight Centuries of Financial Folly''. Princeton University Press. [http://press.princeton.edu/titles/8973.html Description] {{Webarchive|url=https://web.archive.org/web/20130118213207/http://press.princeton.edu/titles/8973.html|date=2013-01-18}}, ch. 1 ("Varieties of Crises and their Dates," pp. [http://press.princeton.edu/chapters/s8973.pdf 3-20)] {{Webarchive|url=https://web.archive.org/web/20120925065855/http://press.princeton.edu/chapters/s8973.pdf|date=2012-09-25}}, and chapter-preview [https://books.google.com/books?id=ak5fLB24ircC&pg=PR7gbs_atb links.] {{Webarchive|url=https://web.archive.org/web/20230115105829/https://books.google.com/books?id=ak5fLB24ircC&printsec=frontcover&source=find&pg=PR7gbs_atb|date=2023-01-15}}<br />&nbsp;&nbsp; • Kevin H. O'Rourke and Barry Eichengreen, 2009. "A Tale of Two Depressions," pp.  [https://web.archive.org/web/20100923102543/http://economicforumonline.org/_source/downloads/ataleoftwodepressions.pdf 1-8.] VoxEU.org.<br />&nbsp;&nbsp; • John Quiggin, 2010. ''Zombie Economics: How Dead Ideas Still Walk among Us'', ch. 2-3 & 5.  Princeton U.P. [http://press.princeton.edu/titles/9270.html Description], {{webarchive|url=https://web.archive.org/web/20100625034842/http://press.princeton.edu/titles/9270.html|date=2010-06-25}} [http://press.princeton.edu/TOCs/c9270.html TOC] {{webarchive|url=https://web.archive.org/web/20110402054333/http://press.princeton.edu/TOCs/c9270.html|date=2011-04-02}}, and [http://press.princeton.edu/chapters/i9270.pdf Introduction] {{Webarchive|url=https://web.archive.org/web/20110401003255/http://press.princeton.edu/chapters/i9270.pdf|date=2011-04-01}}.<br />&nbsp;&nbsp; • Christopher L. Foote and Paul S. Willen, 2011.  "subprime mortgage crisis, the," ''The New Palgrave Dictionary of Economics, Online Edition''. [http://www.dictionaryofeconomics.com/article?id=pde2011_S000547 Abstract.] {{Webarchive|url=https://web.archive.org/web/20110815204612/http://www.dictionaryofeconomics.com/article?id=pde2011_S000547|date=2011-08-15}}<br />&nbsp;&nbsp; • Thomas J. Sargent, 2011. [https://files.nyu.edu/ts43/public/research/Sargent_Sweden_final.pdf "United States Then, Europe Now,"] {{webarchive|url=https://web.archive.org/web/20130115165359/https://files.nyu.edu/ts43/public/research/Sargent_Sweden_final.pdf|date=2013-01-15}} Nobel lecture, sect.
7, Lessons for Now.<br />&nbsp;&nbsp; • Roger Lowenstein, 2012. [https://www.theatlantic.com/magazine/archive/2012/04/the-villain/8901/ "The Villain,"] {{Webarchive|url=https://web.archive.org/web/20120815091018/http://www.theatlantic.com/magazine/archive/2012/04/the-villain/8901/|date=2012-08-15}} (front-cover title: "The Hero"), ''The Atlantic'', 309(2), April, pp. 48-60. <code>[</code>[[Biography:Ben Bernanke|Bernanke]], other economists, and politicians on U.S. monetary policy since 2006.<code>]</code></ref>

*[[Finance:Monetary transmission mechanism|Transmission mechanisms]] of [[Finance:Monetary policy|monetary policy]] as to the macroeconomy{{r|brunner}}
*[[Finance:Neutrality of money|Neutrality of money]] vs. [[Philosophy:Money illusion|money illusion]] as to a change in the money supply, price level, or [[Finance:Inflation|inflation]] on output<ref>• Don Patinkin, 1987. "neutrality of money,"  ''The New Palgrave: A Dictionary of Economics'', v. 3, pp.&nbsp;639–44. Reprinted in John Eatwell et al., 1989, ''Money: The New Palgrave'',  pp. [https://books.google.com/books?id=jTx3VZd0T8oC&pg=PA273 273][https://books.google.com/books?id=mFe17okC_EcC&dq=bl&pg=PA274 -] 287.<br />&nbsp;&nbsp; • Irving Fisher, 1928.  ''The Money Illusion''. Chapter-preview   [https://books.google.com/books?id=LiyX9Xdk8YAC&q=printsec%3Dfrontcover links.]<br />&nbsp;&nbsp; • William H. Branson and Alvin K. Klevorick, 1969.  "Money Illusion and the Aggregate Consumption Function,"  ''American Economic Review'', 59(5), pp. [http://cowles.econ.yale.edu/P/cp/p03a/p0312.pdf 832-849.] {{Webarchive|url=https://web.archive.org/web/20120306043334/http://cowles.econ.yale.edu/P/cp/p03a/p0312.pdf |date=2012-03-06 }}<br />&nbsp;&nbsp; • [[Biography:Eldar Shafir|Eldar Shafir]], Peter Diamond, and Amos Tversky, 1997. "Money Illusion," ''Quarterly Journal of Economics'', 112(2), pp. [https://www.jstor.org/pss/2951239 341] {{Webarchive|url=https://web.archive.org/web/20230116150649/https://www.jstor.org/stable/2951239 |date=2023-01-16 }}-374.<br />&nbsp;&nbsp; • Bruno, Michael, and William Easterly, 1998.  "Inflation Crises and Long-run Growth," ''Journal of Monetary Economics'' 41(1), pp.&nbsp;3–26. [https://archive.today/20130202144908/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBW-3SX82ND-1&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=2a0f597427b05339ddec450d372e52f2 Abstract.]</ref>
* Tests, testability, and implications of rational-expectations theory as to changes in output or inflation from monetary policy<ref>• Milton Friedman, [1987] 2008.  "quantity theory of money." sect. 4, The Theory of Rational Expectations, ''The New Palgrave Dictionary of Economics''. 2nd Edition.  Earlier at John Eatwell et al., 1989), ''Money: The New Palgrave'', pp. [https://books.google.com/books?id=jTx3VZd0T8oC&dq=+norton&pg=PA1 26] {{Webarchive|url=https://web.archive.org/web/20230116150118/https://books.google.com/books?id=jTx3VZd0T8oC&pg=PA1&lpg=PR5&dq=+norton#PPA26,M1 |date=2023-01-16 }}-28.<br />&nbsp;&nbsp; • From ''The New Palgrave Dictionary of Economics'', 2008.  2nd Edition:<br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "rational expectations" by Thomas J. Sargent. [http://www.dictionaryofeconomics.com/article?id=pde2008_R000025&q=lag&topicid=&result_number=19 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120326020021/http://www.dictionaryofeconomics.com/article?id=pde2008_R000025&q=lag&topicid=&result_number=19 |date=2012-03-26 }}<br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "inflation expectations" by Bennett T. McCallum. [http://www.dictionaryofeconomics.com/article?id=pde2008_I000098&q=lag&topicid=&result_number=10 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120326015938/http://www.dictionaryofeconomics.com/article?id=pde2008_I000098&q=lag&topicid=&result_number=10 |date=2012-03-26 }}<br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "inflation targeting" by Lars E.O. Svensson. [http://www.dictionaryofeconomics.com/article?id=pde2008_I000095&q=lag&topicid=&result_number=71 Abstract] {{Webarchive|url=https://web.archive.org/web/20120326015953/http://www.dictionaryofeconomics.com/article?id=pde2008_I000095&q=lag&topicid=&result_number=71 |date=2012-03-26 }} and pre-publication [http://www.princeton.edu/svensson/papers/PalgraveIT.pdf copy.] {{webarchive|url=https://web.archive.org/web/20081201200645/http://www.princeton.edu/svensson/papers/PalgraveIT.pdf |date=2008-12-01 }}<br>&nbsp;&nbsp; • Thomas J. Sargent and Neil Wallace, 1975. "'Rational' Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule," ''Journal of Political Economy'', 83(2), pp. [http://isites.harvard.edu/fs/docs/icb.topic500592.files/sargent%20wallace.pdf 241-254] {{Webarchive|url=https://web.archive.org/web/20140527153406/http://isites.harvard.edu/fs/docs/icb.topic500592.files/sargent%20wallace.pdf |date=2014-05-27 }}.<br />&nbsp;&nbsp; • Thomas J. Sargent, 1976. "A Classical Macroeconometric Model for the United States," ''Journal of Political Economy'', 84(2),  pp. [https://www.jstor.org/pss/1831898 207] {{Webarchive|url=https://web.archive.org/web/20230116150651/https://www.jstor.org/stable/1831898 |date=2023-01-16 }}-238. Reprinted in Lucas and Sargent, ed., 1981, ''Rational Expectations and Econometric Practice'', University of Minnesota Press, 1981. v. 2, pp. [https://books.google.com/books?id=DWSRoJ5UEFkC&pg=PA521 521-51.]<br>&nbsp;&nbsp; • Christopher A. Sims, 1980. "Macroeconomics and Reality", ''Econometrica'', 48(1), pp. [http://www.terry.uga.edu/~last/classes/8130/readings/sims_1980.pdf 1-48] {{webarchive|url=https://web.archive.org/web/20120402163650/http://www.terry.uga.edu/~last/classes/8130/readings/sims_1980.pdf |date=2012-04-02 }}.<br>&nbsp;&nbsp; • Thomas J. Sargent, 1982. "The Ends of Four Big Inflations,"  in Robert E. Hall, ed., ''Inflation: Causes and Effects'', ch. 2, pp. [https://www.nber.org/chapters/c11452.pdf?new_window=1 41-98.] {{Webarchive|url=https://web.archive.org/web/20170817230429/http://www.nber.org/chapters/c11452.pdf?new_window=1 |date=2017-08-17 }} Chicago.<br>&nbsp;&nbsp; • Steven M. Sheffrin, 1996, 2nd Ed.  ''Rational Expectations''. Cambridge. [https://books.google.com/books?id=nkLzXjsMgbEC&q=Monetary+%22rational+expectations%22 Description] and  [https://books.google.com/books?id=nkLzXjsMgbEC&pg=PR7=gbs_v2_summary_r preview.]<br />&nbsp;&nbsp; • Robert E. Lucas Jr., 1972.  "Expectations and the Neutrality of Money," ''Journal of Economic Theory'', 4(2), pp. [http://www-wiwi.uni-muenster.de/me/downloads/Veranstaltungen/Lucas-1972.pdf 103-l24.] {{webarchive|url=https://web.archive.org/web/20090319235047/http://www-wiwi.uni-muenster.de/me/downloads/Veranstaltungen/Lucas-1972.pdf |date=2009-03-19 }}<br />&nbsp;&nbsp; • _____, 1976. "Econometric Policy Evaluation: A Critique," ''Carnegie-Rochester Conference Series on Public Policy'', 1(1), pp. [http://isites.harvard.edu/fs/docs/icb.topic500592.files/lucas%20econometric%20policy.pdf 19–46].<br />&nbsp;&nbsp; • _____, 1980. "Two Illustrations of the Quantity Theory of Money," ''American Economic Review'', 70(5), pp. [http://www.hilbertcorporation.com.ar/teoriacuantitativalucas.pdf 1005-1014.] {{webarchive|url=https://web.archive.org/web/20110531161622/http://www.hilbertcorporation.com.ar/teoriacuantitativalucas.pdf |date=2011-05-31 }}<br />&nbsp;&nbsp; • _____, 1995.  [http://nobelprize.org/nobel_prizes/economics/laureates/1995/lucas-lecture.pdf "Monetary Neutrality,"] {{Webarchive|url=https://web.archive.org/web/20090319235045/http://nobelprize.org/nobel_prizes/economics/laureates/1995/lucas-lecture.pdf |date=2009-03-19 }} Nobel Prize Lecture.<br />&nbsp;&nbsp; • [[Biography:Stanley Fischer|Stanley Fischer]], 1977.  "Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule," ''Journal of Political Economy'', 85(1), pp. [http://web.econ.unito.it/bagliano/macro3/fischer_jpe77.pdf 191-205.] {{webarchive|url=https://web.archive.org/web/20110615182617/http://web.econ.unito.it/bagliano/macro3/fischer_jpe77.pdf |date=2011-06-15 }}<br />&nbsp;&nbsp; • Robert J. Barro, 1978. "Unanticipated Money, Output, and the Price Level in the United States," ''Journal of Political Economy'', 86(4), pp. [https://www.jstor.org/pss/1840379 549] {{Webarchive|url=https://web.archive.org/web/20230116150652/https://www.jstor.org/stable/1840379 |date=2023-01-16 }}-580, reprinted in Lucas and Sargent, ed., 1981, ''Rational Expectations and Econometric Practice'', University of Minnesota Press, pp. [https://books.google.com/books?id=aOZzy82g13UC&pg=PA585 585]-[https://books.google.com/books?id=aOZzy82g13UC&pg=PA616 616.]<br />&nbsp;&nbsp; • Clifford L. F. Attfield and Nigel W. Duck, 1983. "The Influence of Unanticipated Money Growth on Real Output: Some Cross-Country Estimates," ''Journal of Money, Credit and Banking'', 15(4), pp. [https://www.jstor.org/pss/1992160 442] {{Webarchive|url=https://web.archive.org/web/20230116150652/https://www.jstor.org/stable/1992160 |date=2023-01-16 }}-454.<br />&nbsp;&nbsp; • Olivier J. Blanchard, 1990. "Why Does Money Affect Output? A Survey," in B. M. Friedman and F. H. Hahn, ed., 1990, ''Handbook of Monetary Economics'', v. 2, ch. 15, pp. 779-835. {{doi|10.3386/w2285}}</ref>
* Monetary implications of imperfect and asymmetric information<ref>• From 2008, ''The New Palgrave Dictionary of Economics'', 2nd Edition:<br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "monetary business cycles (imperfect information)" by [[Biography:Christian Hellwig|Christian Hellwig]]. [http://www.dictionaryofeconomics.com/article?id=pde2008_M000375&q=information&topicid=&result_number=5 Abstract.] {{Webarchive|url=https://web.archive.org/web/20160303184650/http://www.dictionaryofeconomics.com/article?id=pde2008_M000375&q=information&topicid=&result_number=5 |date=2016-03-03 }}<br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[http://www.dictionaryofeconomics.com/article?id=pde2008_S000278&q=20%20&topicid=&result_number=1 "bubbles"] {{Webarchive|url=https://web.archive.org/web/20120326015539/http://www.dictionaryofeconomics.com/article?id=pde2008_S000278&q=20%20&topicid=&result_number=1 |date=2012-03-26 }} by Markus K. Brunnermeier.<br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"speculative bubbles" by Miguel A. Iraola and Manuel S. Santos.  [http://www.dictionaryofeconomics.com/article?id=pde2008_S000205&q=bubble&topicid=&result_number=5 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120326020410/http://www.dictionaryofeconomics.com/article?id=pde2008_S000205&q=bubble&topicid=&result_number=5 |date=2012-03-26 }}
<br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "information cascades," by Sushil Bikhchandani, David Hirshleifer and Ivo Welch.  [http://www.dictionaryofeconomics.com/article?id=pde2008_I000103&q=information&topicid=&result_number=2 Abstract.] {{Webarchive|url=https://web.archive.org/web/20160303172842/http://www.dictionaryofeconomics.com/article?id=pde2008_I000103&q=information&topicid=&result_number=2 |date=2016-03-03 }}<br />&nbsp;&nbsp; • Alex Cukierman and Allan H. Meltzer, 1986. "A Theory of Ambiguity, Credibility, and Inflation under Discretion and Asymmetric Information," ''Econometrica'',  54(5), pp. [http://www.tau.ac.il/~alexcuk/pdf/EA-86.pdf 1099-1128.] {{Webarchive|url=https://web.archive.org/web/20110604030109/http://www.tau.ac.il/~alexcuk/pdf/EA-86.pdf |date=2011-06-04 }}<br />&nbsp;&nbsp; • Matthew B. Canzoneri, 1985. "Monetary Policy Games and the Role of Private Information," ''American Economic Review'', 75(5), pp. [https://www.jstor.org/pss/1818645 1056] {{Webarchive|url=https://web.archive.org/web/20230116150652/https://www.jstor.org/stable/1818645 |date=2023-01-16 }}-1070.<br />&nbsp;&nbsp; • Frederic S. Mishkin, 1991. "Asymmetric Information and Financial Crises: A Historical Perspective," in R. Glenn Hubbard, ed., ''Financial Markets and Financial Crises'' [https://books.google.com/books?id=MEfUi2H4cqwC (description)], Chicago,  pp.
[https://books.google.com/books?id=MEfUi2H4cqwC&pg=RA1-PA69 69]-[https://books.google.com/books?id=MEfUi2H4cqwC&pg=RA1-PA108 108]<br />&nbsp;&nbsp; • Joseph E. Stiglitz and Andrew M. Weiss, 1992. "Asymmetric Information in Credit Markets: Implications for Macro-Economics," ''Oxford Economic Papers'',  44(4), pp. [http://www.ase.ro/upcpr/profesori/167/Stiglitz-Weiss3.pdf 694-724.] {{Webarchive|url=https://web.archive.org/web/20110728002447/http://www.ase.ro/upcpr/profesori/167/Stiglitz-Weiss3.pdf |date=2011-07-28 }}<br />&nbsp;&nbsp; • [[Biography:Pradeep Dubey|Pradeep Dubey]], John Geanakoplos, and Martin Shubik, 1987. "A Critique of Rational Expectations Equilibrium,"  ''Journal of Mathematical Economics'', 16(2), pp. [http://dido.wss.yale.edu/P/cp/p06b/p0686.pdf 105-137] {{webarchive|url=https://web.archive.org/web/20120425161241/http://dido.wss.yale.edu/P/cp/p06b/p0686.pdf |date=2012-04-25 }}.<br />&nbsp;&nbsp; • [[Biography:Joseph Stiglitz|Joseph Stiglitz]] and Bruce Greenwald, 2003.  ''Towards a New Paradigm in Monetary Economics''. Cambridge. Arrow page-searchable [http://works.bepress.com/joseph_stiglitz/8/ Description] {{Webarchive|url=https://web.archive.org/web/20070113120523/http://works.bepress.com/joseph_stiglitz/8/ |date=2007-01-13 }} and [https://books.google.com/books?id=dZrI_dHoKgUC Table of Contents] chapter-preview links.<br />&nbsp;&nbsp; • Franklin Allen and Douglas Gale, 2000 "Financial Contagion," ''Journal of Political Economy'',  108(1), pp.
[https://web.archive.org/web/20090902162412/http://grad.econ.ubc.ca/yaotang/Allen_and_Gale_2000_Financial_Contagion%20_JPE.pdf 1-33.]<br />&nbsp;&nbsp; • Laura E. Kodres and Matthew Pritsker, 2002. "A Rational Expectations Model of Financial Contagion," ''Journal of Finance'', 57(2), pp. [http://web.cenet.org.cn/upfile/97188.pdf 769-799.] {{webarchive|url=https://web.archive.org/web/20110615184541/http://web.cenet.org.cn/upfile/97188.pdf |date=2011-06-15 }}</ref> and fraudulent finance<ref>• Paul Povel, Rajdeep Singh, and Andrew Winton, 2007. "Booms, Busts, and Fraud," ''Review of Financial Studies'', 20(4), pp. [http://www.tc.umn.edu/~rajsingh/povel_singh_winton_rfs_2007.pdf 1219-1254.] {{Webarchive|url=https://web.archive.org/web/20100414173854/http://www.tc.umn.edu/~rajsingh/povel_singh_winton_rfs_2007.pdf|date=2010-04-14}}<br />&nbsp;&nbsp; • William K. Black, 2005.  ''The Best Way to Rob a Bank Is to Own One''. [https://books.google.com/books?id=SI3F8wEuT24C Description] and  [https://books.google.com/books?id=SI3F8wEuT24C&pg=PR7=gbs_navlinks_s preview].<br />&nbsp;&nbsp; • _____, 2005. "'Control Frauds' as Financial Super-predators: How 'Pathogens' Make Financial Markets Inefficient," ''Journal of Socio-Economics'', 34(6), pp. [http://www.sciencedirect.com/science/article/pii/S1053535705000417734-755.] [http://www.sciencedirect.com/science/article/pii/S1053535705000417 Abstract.] {{Webarchive|url=https://web.archive.org/web/20150924184013/http://www.sciencedirect.com/science/article/pii/S1053535705000417|date=2015-09-24}}<br />&nbsp;&nbsp; • _____, 2009. "Those Who Forget the Regulatory Successes of the Past are Condemned to Failure," ''Economic & Political Weekly'', 44(13), pp. 80-86,. [https://ssrn.com/abstract=1536531 Abstract.] {{Webarchive|url=https://web.archive.org/web/20230116150701/https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1536531|date=2023-01-16}}</ref>

*[[Game theory]] as a modeling paradigm for monetary and financial institutions{{r|game}}
* Possible advantages of following a monetary-policy [[Finance:Taylor rule|rule]] to avoid inefficiencies of time inconsistency from  [[Finance:Discretionary policy|discretionary policy]]{{r|palgrave}}

==History==

===Islamic Golden Age===
At around the same time in the medieval Islamic world, a vigorous monetary economy was created during the 7th–12th centuries on the basis of the expanding levels of circulation of a stable high-value currency (the dinar). Innovations introduced by Muslim economists, traders and merchants include the earliest uses of credit,<ref name=Banaji>{{cite journal |last=Banaji |first=Jairus |year=2007 |title=Islam, the Mediterranean and the Rise of Capitalism |journal=Historical Materialism |volume=15 |issue=1 |pages=47–74 |issn=1465-4466 |doi=10.1163/156920607X171591 |oclc=440360743 |url=https://www.scribd.com/doc/14246569/Banaji-Jairus-Islam-The-Mediterranean-and-the-Rise-of-Capitalism |access-date=August 28, 2010 |archive-url=https://web.archive.org/web/20090523015524/http://www.scribd.com/doc/14246569/Banaji-Jairus-Islam-The-Mediterranean-and-the-Rise-of-Capitalism |archive-date=May 23, 2009 |url-status=dead  }}</ref> [[Finance:Cheque|cheque]]s, [[Finance:Promissory note|promissory note]]s,<ref name="Medieval Trade in the Mediterranean World: Illustrative Documents">{{cite book|last1=Lopez |first1=Robert Sabatino |last2=Raymond |first2=Irving Woodworth |last3=Constable |first3=Olivia Remie |title=Medieval trade in the Mediterranean world: Illustrative documents |series=Records of Western civilization.; Records of civilization, sources and studies, no. 52 |year=2001 |orig-year=1955 |publisher=Columbia University Press |location=New York |url=http://cup.columbia.edu/bookpreview/978-0-231-12356-3/ |isbn=978-0-231-12357-0 |oclc=466877309 |url-status=dead |archive-url=https://web.archive.org/web/20120309144011/http://cup.columbia.edu/bookpreview/978-0-231-12356-3/ |archive-date=March 9, 2012 }}</ref> [[Finance:Savings account|savings account]]s, transactional accounts, [[Finance:Loan|loan]]ing, [[Social:Trust law|trusts]], [[Finance:Exchange rate|exchange rate]]s, the transfer of credit and [[Finance:Debt|debt]],<ref name=Labib>{{cite journal |last=Labib |first=Subhi Y. |date=March 1969 |title=Capitalism in Medieval Islam |journal=The Journal of Economic History |volume=29 |issue=1 |pages=79–86 |issn=0022-0507 |oclc=478662641 |jstor=2115499 |doi=10.1017/S0022050700097837 |s2cid=153962294 }}</ref> and banking institutions for loans and [[Finance:Deposit account|deposits]].<ref name=Labib />

===1500s to 1700s===
[[File:MauryanCoin.JPG|right|thumb|Silver coin of the [[History:Maurya Empire|Maurya Empire]], known as ''rūpyarūpa'', with symbols of wheel and elephant. 3rd century BC.]]
[[File:French issued rupee in the name of Mohammed Sha 1719 1758 for Northern India trade cast in Pondicherry.jpg|thumb|The French East India Company issued rupees in the name of Muhammad Shah (1719–1748) for Northern India trade.  This was cast in Pondicherry.]]

In the [[Earth:Indian subcontinent|Indian subcontinent]], Sher Shah Suri (1540–1545), introduced a silver coin called a ''rupiya'', weighing 178 grams. Its use was continued by the Mughal rulers.<ref>{{cite web |title=Mughal Coinage |url=https://www.rbi.org.in/currency/museum/c-mogul.html |archive-url=https://web.archive.org/web/20021005231609/http://www.rbi.org.in/currency/museum/c-mogul.html |url-status=dead |archive-date=2002-10-05 |quote=Sher Shah issued a coin of silver which was termed the Rupiya. This weighed 178 grains and was the precursor of the modern rupee. It remained largely unchanged till the early 20th Century }}</ref> The history of the rupee traces back to Ancient India circa 3rd century BC. Ancient India was one of the earliest issuers of coins in the world,<ref name="Subodh Kapoor 1599">{{cite book |author=Subodh Kapoor |title=The Indian encyclopaedia: biographical, historical, religious ..., Volume 6 |publisher=Cosmo Publications |date=January 2002 |page=1599 |url=https://books.google.com/books?id=q5ZM0nZXZEkC&pg=PA1599 |isbn=81-7755-257-0 }}</ref> along with the Lydian staters, several other Middle Eastern coinages and the Chinese wen.
The term is from ''rūpya'', a Sanskrit term for silver coin,<ref>{{cite web
|url= https://dsal.uchicago.edu/dictionaries/soas/index.html
|title= A Comparative Dictionary of the Indo-Aryan Languages
|access-date= 26 August 2010
|last= Turner
|first= Sir Ralph Lilley
|year= 1985
|orig-year= London: Oxford University Press, 1962–1966.
|work= Includes three supplements, published 1969–1985.
|publisher= Digital South Asia Library, a project of the Center for Research Libraries and the University of Chicago
|quote= rū'pya 10805 rū'pya 'beautiful, bearing a stamp' ; 'silver'
|archive-date= 28 August 2010
|archive-url= https://web.archive.org/web/20100828231731/http://dsal.uchicago.edu/dictionaries/soas/index.html
|url-status= live
}}</ref> from Sanskrit rūpa, beautiful form.<ref>{{cite web
|url= https://dsal.uchicago.edu/dictionaries/soas/index.html
|title= A Comparative Dictionary of the Indo-Aryan Languages
|access-date= 26 August 2010
|last= Turner
|first= Sir Ralph Lilley
|year= 1985
|orig-year= London: Oxford University Press, 1962–1966.
|work= Includes three supplements, published 1969–1985.
|publisher= Digital South Asia Library, a project of the Center for Research Libraries and the University of Chicago
|quote= rūpa 10803 'form, beauty'
|archive-date= 28 August 2010
|archive-url= https://web.archive.org/web/20100828231731/http://dsal.uchicago.edu/dictionaries/soas/index.html
|url-status= live
}}</ref>

The imperial taka was officially introduced by the monetary reforms of Muhammad bin Tughluq, the emperor of the [[History:Delhi Sultanate|Delhi Sultanate]], in 1329. It was modeled as [[Finance:Representative money|representative money]], a concept pioneered as paper money by the Mongols in {{wipe|China}} and Persia. The tanka was minted in copper and brass. Its value was exchanged with gold and silver reserves in the imperial treasury. The currency was introduced due to the shortage of metals.<ref name="scroll">{{cite web|url=https://scroll.in/article/821406/demonetisation-lessons-how-tughlaqs-unplanned-currency-change-in-14th-century-india-led-to-chaos|author=Shoaib Daniyal|publisher=scroll.in|title=History revisited: How Tughlaq's currency change led to chaos in 14th century India|access-date=2017-02-14|archive-date=2017-02-15|archive-url=https://web.archive.org/web/20170215114508/https://scroll.in/article/821406/demonetisation-lessons-how-tughlaqs-unplanned-currency-change-in-14th-century-india-led-to-chaos|url-status=live}}</ref>

Both the Kabuli rupee and the Kandahari rupee were used as currency in Afghanistan prior to 1891, when they were standardized as the Afghan rupee. The Afghan rupee, which was subdivided into 60 paisas, was replaced by the Afghan afghani in 1925.

Until the middle of the 20th century, [[Place:Tibet|Tibet]]'s official currency was also known as the Tibetan rupee.<ref name="roosevelt1929">{{Cite journal | title=Trailing the giant panda |author1=Theodore Roosevelt |author2=Kermit Roosevelt |journal=Nature | year=1929 |volume=124 |issue=3138 |page=944 | publisher=Scribner |doi=10.1038/124944b0 |bibcode=1929Natur.124R.944. |s2cid=4086078 | url=https://books.google.com/books?id=oXZCAAAAIAAJ | quote=... The currency in general use was what was known at the Tibetan rupee ...}}</ref>

Serious interest in the concepts behind money occurred during the dramatic period of inflation in the late 15th to early 17th centuries known as the Price Revolution, during which the value of gold fell precipitously, sometimes fluctuating wildly, because of the importation of gold from the New World, primarily by {{wipe|Spain}}.{{Citation needed|date=October 2018}}

At the end of this period, the first modern texts on monetary economics were beginning to appear.

During the eighteenth century, the concept of [[Engineering:Banknote|banknote]]s became more common in Europe. [[Biography:David Hume|David Hume]] referred to it as "this new invention of paper".<ref>{{Cite web |url=https://mises.org/system/tdf/History%20of%20Monetary%20and%20Credit%20Theory_3.pdf?file=1&type=document |title=History of Monetary and Credit Theory |access-date=2017-02-26 |archive-date=2023-01-16 |archive-url=https://web.archive.org/web/20230116150656/https://cdn.mises.org/History |url-status=live }}</ref>

In 1705, [[Biography:John Law (economist)|John Law]] in Scotland published ''[[Finance:Money and Trade Considered|Money and Trade Considered]]'', which examined the failure of metal-based money during the previous hundred and fifty years. He proposed replacing that system with a [[Finance:Land banking|land bank]] system of paper money based on the value of real estate. He succeeded in getting this proposal implemented. However, his bank failed due to a bubble of speculation collapsing into extreme inflation; perhaps because he failed to take the lessons of the Spanish Price Revolution seriously.{{Citation needed|date=October 2018}}

In 1720, Isaac Gervaise wrote ''The System or Theory of the Trade of the World''. He criticised [[Finance:Mercantilism|mercantilism]] and state-supported credit for the inflation problems of his era.{{Citation needed|date=October 2018}}

''Della Moneta'', was published by Ferdinando Galiani in 1751, and is arguably the first modern text on economic theory. It was printed twenty-five years before [[Biography:Adam Smith|Adam Smith]]'s more famous book, ''[[Finance:The Wealth of Nations|The Wealth of Nations]]'', which touched on some of the same topics. ''Della Moneta'' covered many modern monetary concepts, including the value, origin, and regulation of money. It carefully examined the possible causes for money's value to fluctuate.

The year following, 1752, ''[[Finance:Of the Balance of Trade|Of the Balance of Trade]]'' was published by Hume. He argued that one need not worry about the import or export of goods creating a surplus or shortage of either money or goods because an excess or shortage of money will always increase or decrease demand until equilibrium is reached. In modern economic terms, this is as equilibration through the price-specie flow mechanism.

==See also==
{{div col|colwidth=16em}}
* {{annotated link|Finance:Chartalism}} 
* {{annotated link|Finance:Classical dichotomy}}
* {{annotated link|Finance:Currency crisis}}
* {{annotated link|Finance:Equation of exchange}}
* {{annotated link|Finance:Financial economics}}
* {{annotated link|Social:Free banking}}
* {{annotated link|Finance:Horizontalism}}
* {{annotated link|Finance:Liquidity preference}}
* {{annotated link|Finance:Liquidity trap}}
* {{annotated link|Finance:Market monetarism}}
* {{annotated link|Social:Modern Monetary Theory}}
* {{annotated link|Finance:Monetarism}}
* {{annotated link|Finance:Monetary base}}
* {{annotated link|Finance:Monetary-disequilibrium theory}}
* {{annotated link|Finance:Monetary reform}}
* {{annotated link|Finance:Money creation}}
* {{annotated link|Finance:Money supply}}
* {{annotated link|Finance:Systemic risk}}
* {{annotated link|Finance:Taylor rule}}
* {{annotated link|Finance:Velocity of money}}
* {{annotated link|Finance:Welfare cost of inflation}}
{{div col end}}

{{Economics}}
{{Macroeconomics}}

==Notes==
{{Reflist|refs=

<ref name=brunner>• Karl Brunner and Allan H. Meltzer, 1988. "Money and Credit in the Monetary Transmission Process," ''American Economic Review'', 78(2), pp. [https://www.jstor.org/pss/1818166 446]-451.<br/>&nbsp;&nbsp; • Ben S. Bernanke and Mark Gertler, 1995.  "Inside the Black Box: The [[Finance:Credit channel|Credit Channel]] of Monetary Policy Transmission," ''Journal of Economic Perspectives'', 9(4),1995 pp. [http://www.fclar.unesp.br/poseco/Bernanke%20e%20Gertler%20(1995).pdf 27-48.] {{Webarchive|url=https://web.archive.org/web/20090319235047/http://www.fclar.unesp.br/poseco/Bernanke%20e%20Gertler%20(1995).pdf |date=2009-03-19 }}<br/>&nbsp;&nbsp; • Frederic S. Mishkin, 1996.  "The Channels of Monetary Transmission: Lessons for Monetary Policy," ''Banque de France Bulletin Digest'',  No. 27, pp.  [http://bdfbs-ws01.heb3.fr.colt.net/gb/publications/telechar/bulletin/27etud1.pdf 33-44.]{{dead link|date=February 2018 |bot=InternetArchiveBot |fix-attempted=yes }}<br/>&nbsp;&nbsp; • Ben S. Bernanke and [[Biography:Vincent Reinhart|Vincent R. Reinhart]], 2004. "Conducting Monetary Policy at Very Low Short-Term Interest Rates," ''American Economic Review'', 94(2), pp. [http://public.econ.duke.edu/~staff/wrkshop_papers/2008-2009%20Papers/Bernanke_Reinhart_AER_2004.pdf 85-90] {{Webarchive|url=https://web.archive.org/web/20150704085944/http://public.econ.duke.edu/~staff/wrkshop_papers/2008-2009%20Papers/Bernanke_Reinhart_AER_2004.pdf |date=2015-07-04 }}.<br/>&nbsp;&nbsp; • Peter N. Ireland, 2008.  "monetary transmission mechanism," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_M000214&q=monetary%20economics%20&topicid=&result_number=2 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120215082828/http://www.dictionaryofeconomics.com/article?id=pde2008_M000214&q=monetary%20economics%20&topicid=&result_number=2 |date=2012-02-15 }}
[http://fmwww.bc.edu/ec-p/wp628.pdf Pre-publication copy.] {{Webarchive|url=https://web.archive.org/web/20100612163614/http://fmwww.bc.edu/ec-p/WP628.pdf |date=2010-06-12 }}<br/>&nbsp;&nbsp; • Alan S. Blinder et al., 2008. "Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence," ''Journal of Economic Literature'', 46(4), pp. 910–945 Pre-publication [http://www.ecb.int/pub/pdf/scpwps/ecbwp898.pdf copy.] {{Webarchive|url=https://web.archive.org/web/20090319235044/http://www.ecb.int/pub/pdf/scpwps/ecbwp898.pdf |date=2009-03-19 }}<br/>&nbsp;&nbsp; • Vasco Cúrdia and Michael Woodford, 2011, "The Central-Bank Balance Sheet as an Instrument of Monetary Policy," ''Journal of Monetary Economics'', 58(1), pp. 54-79. [https://archive.today/20130201194900/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBW-515SRM0-2&_user=10&_coverDate=01/31/2011&_rdoc=1&_fmt=high&_orig=search&_origin=search&_sort=d&_docanchor=&view=c&_searchStrId=1648057535&_rerunOrigin=google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=626e994ab8941bdf9e8c5847cc1658e7&searchtype=a Abstract.]<br/>&nbsp;&nbsp; • Xavier Freixas, 2009. "Monetary Policy in a Systemic Crisis," ''Oxford Review of Economic Policy'',  25(4), pp. 630-53. [https://archive.today/20130415192315/http://oxrep.oxfordjournals.org/cgi/content/abstract/25/4/630 Abstract.]</ref>

<ref name=pal2>• From ''[[The New Palgrave Dictionary of Economics]]'', 2008.  2nd Edition:
<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "monetary and fiscal policy overview" by Narayana R. Kocherlakota. [http://www.dictionaryofeconomics.com/article?id=pde2008_M000383 Abstract.] {{Webarchive|url=https://web.archive.org/web/20101229205850/http://www.dictionaryofeconomics.com/article?id=pde2008_M000383 |date=2010-12-29 }}
<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "fiscal and monetary policies in developing countries" by David Fielding. [http://www.dictionaryofeconomics.com/article?id=pde2008_F000116&q=monetary%20developing&topicid=&result_number=1 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120311082427/http://www.dictionaryofeconomics.com/article?id=pde2008_F000116&q=monetary%20developing&topicid=&result_number=1 |date=2012-03-11 }}
<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "government budget constraint" by Eric M. Leeper and James M. Nason. [http://www.dictionaryofeconomics.com/article?id=pde2008_G000161 Abstract.] {{Webarchive|url=https://web.archive.org/web/20101229211231/http://www.dictionaryofeconomics.com/article?id=pde2008_G000161 |date=2010-12-29 }}
<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "currency crises" by Graciela Laura Kaminsky.  [http://www.dictionaryofeconomics.com/article?id=pde2008_C000468 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120326015551/http://www.dictionaryofeconomics.com/article?id=pde2008_C000468 |date=2012-03-26 }}
<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "currency crises models" by Craig Burnside, Martin Eichenbaum, and Sergio Rebelo. [http://www.dictionaryofeconomics.com/article?id=pde2008_S000204 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120326015628/http://www.dictionaryofeconomics.com/article?id=pde2008_S000204 |date=2012-03-26 }}<br/>&nbsp;&nbsp; • Stanley Fischer and William Easterly, 1990.  "The Economics of the Government Budget Constraint," ''World Bank Research Observer'', 5(2), pp. [https://www.jstor.org/pss/3986443 p. 127] {{Webarchive|url=https://web.archive.org/web/20230116150656/https://www.jstor.org/stable/3986443 |date=2023-01-16 }}-142 ([http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/1990/07/01/000009265_3980513111756/Rendered/PDF/multi_page.pdf#page=5 PDF] {{Webarchive|url=https://web.archive.org/web/20110607004921/http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/1990/07/01/000009265_3980513111756/Rendered/PDF/multi_page.pdf#page=5 |date=2011-06-07 }}, pp. 5-20 of 101).<br/>&nbsp;&nbsp; • [[Biography:Thomas J. Sargent|Thomas J. Sargent]] and Neil Wallace, 1981. "Some Unpleasant Monetarist Arithmetic," Federal Reserve Bank of Minneapolis  ''Quarterly Review'', 5(3), pp. [http://research.mpls.frb.fed.us/research/qr/qr531.pdf 1-17.] {{Webarchive|url=https://web.archive.org/web/20110727055011/http://research.mpls.frb.fed.us/research/qr/qr531.pdf |date=2011-07-27 }}<br/>&nbsp;&nbsp; • Thomas J. Sargent, 2011. [https://files.nyu.edu/ts43/public/research/Sargent_Sweden_final.pdf "United States Then, Europe Now,"] {{webarchive|url=https://web.archive.org/web/20130115165359/https://files.nyu.edu/ts43/public/research/Sargent_Sweden_final.pdf |date=2013-01-15 }} Nobel lecture, sect.
7, Lessons for Now.<br/>&nbsp;&nbsp; • Milton Friedman, 1948. "A Monetary and Fiscal Framework for Economic Stability," '' American Economic Review'', 38(3), pp. [http://www.hilbertcorporation.com.ar/amonetaryandfiscaleconomicstability.pdf 245-264.] {{webarchive|url=https://web.archive.org/web/20111007091741/http://www.hilbertcorporation.com.ar/amonetaryandfiscaleconomicstability.pdf |date=2011-10-07 }}<br/>&nbsp;&nbsp; • _____, 1959. ''A Program for Monetary Stability''.  Fordham University Press.  New York. TOC chapter-preview [https://www.questia.com/PM.qst?a=o&d=22831717 links.] {{Webarchive|url=https://web.archive.org/web/20111101070712/http://www.questia.com/PM.qst?a=o&d=22831717 |date=2011-11-01 }}<br/>&nbsp;&nbsp; • Michael Woodford, 2001.  "Fiscal Requirements for Price Stability," ''Journal of Money, Credit and Banking'', 33(3), pp. [https://www.jstor.org/pss/2673890 669]-728.<br/>&nbsp;&nbsp; • Alberto Alesina and Allan Drazen, 1991.  "Why Are Stabilizations Delayed?" ''American Economic Review'', 81(5), pp. [http://j-bradford-delong.net/Teaching_Folder/Econ_202b_F2000/papers/Alesina_Drazen.pdf 1170-1188.] {{Webarchive|url=https://web.archive.org/web/20110726113731/http://j-bradford-delong.net/Teaching_Folder/Econ_202b_F2000/papers/Alesina_Drazen.pdf |date=2011-07-26 }}<br/>&nbsp;&nbsp; • Lawrence H. Summers, 2000. "International Financial Crises: Causes, Prevention, and Cures." ''American Economic Review'',, 90(2), pp. [https://www.jstor.org/pss/117183 1]-16. Reprinted in M. Chatterji and P. Gangopadhyay, ed., 2005, ''Economic Globalization in Asia'',
pp. [https://books.google.com/books?id=9kVdNzWA6qMC&pg=PA47 47]-[https://books.google.com/books?id=9kVdNzWA6qMC&pg=PA63 63.]<br/>&nbsp;&nbsp; • Graciela L. Kaminsky and Carmen M. Reinhart, 1999. "The Twin Crises: The Causes of Banking and Balance-Of-Payments Problems," ''American Economic Review'', 89(3), pp. [https://www.jstor.org/pss/117029 473]-500.<br/>&nbsp;&nbsp; • Christopher Adam and David Vines, 2009. "Remaking Macroeconomic Policy after the Global Financial Crisis: A Balance-Sheet Approach,"  ''Oxford Review of Economic Policy'', 25(4), pp. 507-552. [https://web.archive.org/web/20100820071423/http://oxrep.oxfordjournals.org/cgi/content/abstract/25/4/507 Abstract.]</ref>

<ref name=game>• [[Biography:Martin Shubik|Martin Shubik]], 1990. "A Game Theoretic Approach to the Theory of Money and Financial Institutions," ch. 5, in B. M. Friedman and & F. H. Hahn, ed. ''Handbook of Monetary Economics'', Elsevier,  v. 1, pp. [http://dido.wss.yale.edu/P/cp/p07b/p0767.pdf 171-219] {{webarchive|url=https://web.archive.org/web/20120425161321/http://dido.wss.yale.edu/P/cp/p07b/p0767.pdf |date=2012-04-25 }}.<br/>&nbsp;&nbsp; • _____, 2004. ''The Theory of Money and Financial Institutions'', MIT Press:
<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. 1.  [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=10209 Description] {{webarchive|url=https://web.archive.org/web/20060915232223/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=10209 |date=2006-09-15 }},  [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=10209&mode=toc contents] {{webarchive|url=https://web.archive.org/web/20060920225145/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=10209&mode=toc |date=2006-09-20 }}, and chapter-preview [https://books.google.com/books?id=m9BWUe9xveQC&pg=PR7 links] {{Webarchive|url=https://web.archive.org/web/20230116150658/https://books.google.com/books?id=m9BWUe9xveQC&printsec=find&pg=PR7 |date=2023-01-16 }}
<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. 2. [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=10210 Description] {{webarchive|url=https://web.archive.org/web/20060916122235/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=10210 |date=2006-09-16 }} and [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=3453&mode=toc contents] {{webarchive|url=https://web.archive.org/web/20060920225207/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=3453&mode=toc |date=2006-09-20 }}.
<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. 3: [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=12313 Description] {{webarchive|url=https://web.archive.org/web/20111102183642/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=12313 |date=2011-11-02 }}.<br/>&nbsp;&nbsp; • Guido Tabellini, 1986. "Money, Debt and Deficits in a Dynamic Game," ''Journal of Economic Dynamics and Control'', 10(4), pp. 427-442. [http://www.sciencedirect.com/science/article/pii/S016518898680001X Abstract] {{Webarchive|url=https://web.archive.org/web/20150924163447/http://www.sciencedirect.com/science/article/pii/S016518898680001X |date=2015-09-24 }}.<br/>&nbsp;&nbsp; • Koichi Hamada, 1976. "Strategic Analysis of Monetary Interdependence," ''Journal of Political Economy'', 84(4, Part 1), pp. [https://www.jstor.org/pss/1831327 677]-700.<br/>&nbsp;&nbsp; • _____, 1985.  ''The Political Economy of International Monetary Interdependence'', MIT Press. [http://mitpress.mit.edu/catalog/item/default.asp?tid=5803&ttype=2 Description] {{webarchive|url=https://web.archive.org/web/20060915233420/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=5803 |date=2006-09-15 }} and content-chapter [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=5803&mode=toc links] {{webarchive|url=https://web.archive.org/web/20060920230337/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=5803&mode=toc |date=2006-09-20 }}. Review [https://doi.org/10.1007%2FBF02298860 extract] {{Webarchive|url=https://web.archive.org/web/20230116151214/https://link.springer.com/article/10.1007/BF02298860 |date=2023-01-16 }}.<br/>&nbsp;&nbsp; • Matthew B. Canzoneri and Dale W. Henderson, 1991.  ''Monetary Policy in Interdependent Economies: A Game-Theoretic Approach'', MIT Press. [http://mitpress.mit.edu/catalog/item/default.asp?tid=4997&ttype=2 Description] {{webarchive|url=https://web.archive.org/web/20060915233358/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=4997 |date=2006-09-15 }} and chapter-preview [https://books.google.com/books?id=9D14XTDqfaYC&pg=PR7 links].</ref>

<ref name=n1>• Sudipto Bhattacharya, Anjan V. Thakor, and Arnoud W.A. Boot, 1998. "The Economics of Bank Regulation," ''Journal of Money, Credit, and Banking'', 30(4), pp. [https://apps.olin.wustl.edu/workingpapers/pdf/2006-06-038.pdf 745-770.] {{Webarchive|url=https://web.archive.org/web/20160304024716/https://apps.olin.wustl.edu/workingpapers/pdf/2006-06-038.pdf |date=2016-03-04 }}<br/>&nbsp;&nbsp; • Frederic S. Mishkin, ed., 2001. ''Prudential Supervision: What Works and What Doesn't'', Chicago. [https://www.nber.org/books/mish01-1 Chapter downloads.] {{Webarchive|url=https://web.archive.org/web/20200215025916/https://www.nber.org/books/mish01-1 |date=2020-02-15 }}<br/>&nbsp;&nbsp; • James R. Barth, Gerard Caprio Jr.,  and Ross Levine,  2004.  "Bank Regulation and Supervision: What Works Best?" ''Journal of Financial Intermediation'', 13(2),  pp.  205-248. [https://archive.today/20120911092305/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6WJD-4B28V79-3&_user=10&_coverDate=04/30/2004&_rdoc=1&_fmt=high&_orig=search&_sort=d&_docanchor=&view=c&_rerunOrigin=scholar.google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=3638046c9e4aceeb65e1815b46330d81 Abstract.]<br/>&nbsp;&nbsp; • Carlos M. Peláez and Carlos A. Peláez, 2009. ''Regulation of Banks and Finance: Theory and Policy after the Credit Crisis'', Palgrave. [http://www.palgrave.com/resources/catalogue/pdfs/2009/Economics2009.pdf#page=12 Description.] {{Webarchive|url=https://web.archive.org/web/20100331064226/http://www.palgrave.com/resources/catalogue/pdfs/2009/Economics2009.pdf#page=12 |date=2010-03-31 }}<br/>&nbsp;&nbsp; • [[Organization:Centre for Economic Policy Research|Centre for Economic Policy Research]], London:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mathias Dewatripont, Xavier Freixas, and Richard Portes, ed., 2009. ''[http://www.voxeu.org/reports/G20_ebook.pdf Macroeconomic Stability and Financial Regulation.] {{webarchive|url=https://web.archive.org/web/20100704003905/http://www.voxeu.org/reports/G20_ebook.pdf |date=2010-07-04 }}''<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thorsten Beck, Diane Coyle, Mathias Dewatripont, Xavier Freixas, and Paul Seabright, 2010.  [http://www.cepr.org/pubs/other/Bailing_out_the_banks.pdf ''Bailing out the Banks: Reconciling Stability and Competition''] {{Webarchive|url=https://web.archive.org/web/20100415022835/http://www.cepr.org/pubs/other/Bailing_out_the_banks.pdf |date=2010-04-15 }}, ch. 7, "Preventing Future Crises: Reforming Prudential Regulation," pp. 67-83.<br/>&nbsp;&nbsp; • [[Biography:Robert Hall (economist)|Robert E. Hall]], 1982.  "''Monetary Trends in The United States and The United Kingdom'': A Review from The Perspective of New Developments in Monetary Economics," ''Journal of Economic Literature'', 20(4),  pp. [http://www.stanford.edu/~rehall/Monetary%20Trends%20JEL%201982.pdf 1552-1556.] {{Webarchive|url=https://web.archive.org/web/20101203165221/http://www.stanford.edu/~rehall/Monetary%20Trends%20JEL%201982.pdf |date=2010-12-03 }}<br/>&nbsp;&nbsp; • [[Biography:Robert C. Merton|Robert C. Merton]], 1995. "Financial Innovation and the Management and Regulation of Financial Institutions," ''Journal of Banking & Finance'', 19(3-4), pp.  [http://www.people.hbs.edu/rmerton/financial%20innovation%20management%20and%20regulation.pdf 461-481.] {{Webarchive|url=https://web.archive.org/web/20100611063232/http://www.people.hbs.edu/rmerton/financial%20innovation%20management%20and%20regulation.pdf |date=2010-06-11 }}<br/>&nbsp;&nbsp; • Lawrence J. White, 1991 ''The S&L Debacle: Public Policy Lessons for Bank and Thrift Regulation'', Oxford. Chapter-preview [https://www.questia.com/library/book/the-sandl-debacle-public-policy-lessons-for-bank-and-thrift-regulation-by-lawrence-j-white.jsp links.] {{Webarchive|url=https://web.archive.org/web/20230116151225/https://www.gale.com/databases/questia |date=2023-01-16 }}   [https://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=3768 Review] {{Webarchive|url=https://web.archive.org/web/20140902032516/https://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=3768 |date=2014-09-02 }} by J.H. Boyd.<br/>&nbsp;&nbsp; • Randall S. Kroszner and Philip E. Strahan, 1999.  "What Drives Deregulation? Economics and Politics of the Relaxation of Bank Branching Restrictions," ''Quarterly Journal of Economics'', 114(4), pp. [https://www.jstor.org/pss/2586968 1437]-1467.fragility of [[Finance:Financial market|financial market]]s,<br/>&nbsp;&nbsp; • Ben Bernanke and Mark Gertler, 1990. "Financial Fragility and Economic Performance," ''Quarterly Journal of Economics'', 105(1), pp. [https://www.jstor.org/pss/2937820 87]-114.<br/>&nbsp;&nbsp; • Thomas F. Hellmann, Kevin C. Murdock and Joseph E. Stiglitz, 2000. "Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?" ''American Economic Review'', 90(1), pp.  [https://www.jstor.org/pss/117285 147]-165.<br/>&nbsp;&nbsp; • Ross Levine, Norman Loayza, and Thorsten Beck, 2000. "Financial Intermediation and Growth: Causality and Causes," ''Journal of Monetary Economics'', 46, pp. [http://siteresources.worldbank.org/DEC/Resources/FinancialDevelopmentandGrowth.pdf 31-77] {{Webarchive|url=https://web.archive.org/web/20121020143404/http://siteresources.worldbank.org/DEC/Resources/FinancialDevelopmentandGrowth.pdf |date=2012-10-20 }} (close Pages tab at left).<br/>&nbsp;&nbsp; • Asli Demirgüç-Kunt and Enrica Detragiache, 2002. "Does Deposit Insurance Increase Banking System Stability? An Empirical Investigation," ''Journal of Monetary Economics'', 49(7), pp. 1373-1406. [https://archive.today/20130201213408/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBW-46YGNWB-3&_user=10&_coverDate=10/31/2002&_rdoc=1&_fmt=high&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId=1229510575&_rerunOrigin=scholar.google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=4e943cd6c3a1cdf468152a5cec378968 Abstract & TOC.]<br/>&nbsp;&nbsp; • Donald P. Morgan, 2002. "Rating Banks: Risk and Uncertainty in an Opaque Industry," ''American Economic Review'', 92(4), pp. [https://www.jstor.org/pss/3083285 874] {{Webarchive|url=https://web.archive.org/web/20230116151223/https://www.jstor.org/stable/3083285 |date=2023-01-16 }}-888.<br/>&nbsp;&nbsp; • Thorsten Beck, Aslı Demirgu¨ Kunt, and Ross Levine 2006. "Bank Supervision and Corruption in Lending," ''Journal of Monetary Economics'', 53(8), pp. 2131–2163. [http://michau.nazwa.pl/aska/uploads/Studenci/EPF_10nov2.pdf Abstract.] {{Webarchive|url=https://web.archive.org/web/20110821215709/http://michau.nazwa.pl/aska/uploads/Studenci/EPF_10nov2.pdf |date=2011-08-21 }}<br/>&nbsp;&nbsp; • Raghuram G. Rajan, 2005. "Has Financial Development Made the World Riskier?" in ''Economic Symposium Conference [http://www.kansascityfed.org/publications/research/escp/archive.cfm Proceedings] {{webarchive|url=https://web.archive.org/web/20140929201047/http://kansascityfed.org/publications/research/escp/archive.cfm |date=2014-09-29 }}'', Federal Reserve Bank of Kansas City, Aug., pp. [http://www.kansascityfed.org/publicat/sympos/2005/pdf/rajan2005.pdf 313-369.] {{Webarchive|url=https://web.archive.org/web/20130930215918/http://www.kansascityfed.org/publicat/sympos/2005/pdf/Rajan2005.pdf |date=2013-09-30 }} {{doi|10.3386/w11728}}<br/>&nbsp;&nbsp; • In Mark Carey & René M. Stulz, ed., 2007. ''[https://books.google.com/books?id=mTWtpwkGYGgC The Risks of Financial Institutions]'', Chicago:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thorsten Beck, Asli Demirguc-Kunt, and Ross Levine. "Bank Concentration and Fragility: Impact and Mechanics," ch. 5, pp. [https://books.google.com/books?id=mTWtpwkGYGgC&pg=PA193=gbs 193-] 231. [https://ssrn.com/abstract=775990 Abstract.] {{Webarchive|url=https://web.archive.org/web/20230116151226/https://papers.ssrn.com/sol3/papers.cfm?abstract_id=775990 |date=2023-01-16 }}<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Allen and Douglas Gale. "Systemic Risk and Regulation," ch. 7. pp. 341-368.<br/>&nbsp;&nbsp; • [[Biography:Carl E. Walsh|Carl E. Walsh]],  2009. "Using Monetary Policy to Stabilize Economic Activity," in [https://web.archive.org/web/20100831111544/http://www.kansascityfed.org/publications/research/escp/escp-2009.cfm ''Financial Stability and Macroeconomic Policy''], FRBKC, Aug., pp. [https://web.archive.org/web/20101125174924/http://kansascityfed.org/publicat/sympos/2009/papers/Walsh.09.11.09.pdf 245-96.]<br/>&nbsp;&nbsp; • Ben S. Bernanke, 2010. [http://www.federalreserve.gov/newsevents/speech/bernanke20100103a.htm "Monetary Policy and the Housing Bubble,"] {{Webarchive|url=https://web.archive.org/web/20220831233513/http://www.federalreserve.gov/newsevents/speech/bernanke20100103a.htm |date=2022-08-31 }} American Economic Association meeting. Atlanta. January 3.<br/>&nbsp;&nbsp; • ''Frontline'', 2009. "The Warning,"  PBS, October 20. Brooksley Born's efforts as CFTC chair (1996-1999) to regulate OTC derivatives. [https://www.pbs.org/wgbh/pages/frontline/warning/etc/script.html Transcript] {{Webarchive|url=https://web.archive.org/web/20170919061353/http://www.pbs.org/wgbh/pages/frontline/warning/etc/script.html |date=2017-09-19 }} and arrow-[https://www.pbs.org/wgbh/pages/frontline/warning/view/ link] {{Webarchive|url=https://web.archive.org/web/20160413000742/http://www.pbs.org/wgbh/pages/frontline/warning/view/ |date=2016-04-13 }} to broadcast.<br/>&nbsp;&nbsp; • ''Charlie Rose'', 2011. Paul Volcker interview, Oct 24, PBS. On current financial regulatory reform in the U.S., Europe, and Japan. Click on picture to [http://www.charlierose.com/view/interview/11964 play] {{webarchive|url=https://web.archive.org/web/20111027125246/http://www.charlierose.com/view/interview/11964 |date=2011-10-27 }}.</ref>

<ref name=palgrave>• From ''The New Palgrave Dictionary of Economics'', 2008.  2nd Edition:<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "monetary policy, history of" by Michael D. Bordo.  [http://www.dictionaryofeconomics.com/article?id=pde2008_H000180&q=monetary%20policy&topicid=&result_number=2 Abstract] {{Webarchive|url=https://web.archive.org/web/20120226063546/http://www.dictionaryofeconomics.com/article?id=pde2008_H000180&q=monetary%20policy&topicid=&result_number=2 |date=2012-02-26 }} and [http://michael.bordo.googlepages.com/TheHistoryofMonetaryPolicy.pdf pre-publication copy.] {{Webarchive|url=https://web.archive.org/web/20160304112700/http://www.dictionaryofeconomics.com/article?id=pde2008_H000180&edition=current&q=real%20%20nominal&topicid=&result_number=40 |date=2016-03-04 }}<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "Taylor rules,"  v. 8, pp. 200-04, by [[Biography:Athanasios Orphanides|Athanasios Orphanides]]. [http://www.dictionaryofeconomics.com/article?id=pde2008_T000215&q=taylor%20rules&topicid=&result_number=1 Abstract.] {{Webarchive|url=https://web.archive.org/web/20160310213810/http://www.dictionaryofeconomics.com/article?id=pde2008_T000215&q=taylor |date=2016-03-10 }}<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "time consistency of monetary and fiscal policy," by Paul Klein.  [http://www.dictionaryofeconomics.com/article?id=pde2008_T000219&q=Time%20inconsistency)&topicid=&result_number=1 Abstract.] {{Webarchive|url=https://web.archive.org/web/20160328134802/http://www.dictionaryofeconomics.com/article?id=pde2008_T000219&q=Time%20inconsistency)&topicid=&result_number=1 |date=2016-03-28 }}<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "epistemic game theory: incomplete information" by Aviad Heifetz.  [http://www.dictionaryofeconomics.com/article?id=pde2008_G000191&q=information&topicid=&result_number=6 Abstract.] {{Webarchive|url=https://web.archive.org/web/20160303225452/http://www.dictionaryofeconomics.com/article?id=pde2008_G000191&q=information&topicid=&result_number=6 |date=2016-03-03 }}<br/>&nbsp;&nbsp; • [[Biography:Finn E. Kydland|Finn E. Kydland]] and [[Biography:Edward C. Prescott|Edward C. Prescott]], 1977.  "Rules Rather than Discretion: The Inconsistency of Optimal Plans," ''Journal of Political Economy'', 85(3), pp. [https://www.sfu.ca/~kkasa/prescott_77.pdf 473–92.] {{Webarchive|url=https://web.archive.org/web/20170923090929/http://www.sfu.ca/~kkasa/prescott_77.pdf |date=2017-09-23 }}<br/>&nbsp;&nbsp; • Robert J. Barro and David B. Gordon, 1983.  "Rules, Discretion and Reputation in a Model of Monetary Policy," ''Journal of Monetary Economics'', 12(1), pp. [http://dss.ucsd.edu/~jlbroz/Courses/POLI200C/syllabus/barro_gordon.pdf 101–21.] {{webarchive|url=https://web.archive.org/web/20110927004704/http://dss.ucsd.edu/~jlbroz/Courses/POLI200C/syllabus/barro_gordon.pdf |date=2011-09-27 }}<br/>&nbsp;&nbsp; • [[Biography:John B. Taylor|John B. Taylor]], 1993. "Discretion versus Policy Rules in Practice," ''Carnegie-Rochester Conference Series on Public Policy'', 39,  pp. [http://www.stanford.edu/~johntayl/Papers/Discretion.PDF 195-214.] {{Webarchive|url=https://web.archive.org/web/20130116190729/http://www.stanford.edu/~johntayl/Papers/Discretion.PDF |date=2013-01-16 }}<br/>&nbsp;&nbsp; • [[Biography:Michael Woodford (economist)|Michael Woodford]], 2003. ''Interest and Prices: Foundations of a Theory of Monetary Policy'', Princeton University Press. [http://press.princeton.edu/titles/7603.html Description] {{Webarchive|url=https://web.archive.org/web/20190919110146/https://press.princeton.edu/titles/7603.html |date=2019-09-19 }}, [http://press.princeton.edu/TOCs/c7603.html table of contents] {{Webarchive|url=https://web.archive.org/web/20090225194841/http://press.princeton.edu/TOCs/c7603.html |date=2009-02-25 }}, and chapter-1 ["The Return of Monetary Rules"] [http://press.princeton.edu/chapters/s7603.pdf link.] {{Webarchive|url=https://web.archive.org/web/20100702172347/http://press.princeton.edu/chapters/s7603.pdf |date=2010-07-02 }} Reviews by    [http://www.cato.org/pubs/journal/cj25n2/cj25n2-18.pdf Robert Formaini] {{webarchive|url=https://web.archive.org/web/20090313005406/http://www.cato.org/pubs/journal/cj25n2/cj25n2-18.pdf |date=2009-03-13 }} and [https://books.google.com/books?id=Q-23z2f57rgC&dq=%22Michael+Woodford%E2%80%99s+Contributions+to+Monetary+Economics%2C%E2%80%9D&pg=PA10 Bennett T. McCallum.]</ref>

<ref name=n3>• From Christina D. Romer and David H. Romer, 2007:2. "Monetary Economics," ''NBER Reporter'', p. [http://www.nber.org/reporter/2007number2/2007number2.pdf 1.] {{Webarchive|url=https://web.archive.org/web/20110611132607/http://www.nber.org/reporter/2007number2/2007number2.pdf |date=2011-06-11 }}<br/>&nbsp;&nbsp; • Alan S. Blinder, 1997.  "What Central Bankers Could Learn from Academics — and Vice Versa," ''Journal of Economic Perspectives'', 11(2), pp. [http://www.ukzn.ac.za/economics/viegi/teaching/uct/blinder.pdf 3-19.]{{dead link|date=December 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

<ref name=bernanke>• Ben S. Bernanke, 1995. "The Macroeconomics of the Great Depression: A Comparative Approach,"  ''Journal of Money, Credit and Banking'', 27(1), pp. [https://fraser.stlouisfed.org/title/1169/item/2399 1-28.] {{Webarchive|url=https://web.archive.org/web/20200408163726/https://fraser.stlouisfed.org/title/1169/item/2399 |date=2020-04-08 }}<br/>&nbsp;&nbsp; • _____, 1983.  "Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression," ''American Economic Review'', 73(3),  pp. [https://www.jstor.org/pss/1808111 257]-276. Reprinted with Bernanke,  1995 (above), in Bernanke, 2005, ''Essays on the Great Depression'', Princeton. [http://press.princeton.edu/titles/6817.html Description] {{Webarchive|url=https://web.archive.org/web/20100329133459/http://press.princeton.edu/titles/6817.html |date=2010-03-29 }},  [http://press.princeton.edu/TOCs/c6817.html TOC] {{webarchive|url=https://web.archive.org/web/20100119050606/http://press.princeton.edu/TOCs/c6817.html |date=2010-01-19 }} as ch. 1-2.<br/>&nbsp;&nbsp; • _____ and Mark Gertler, 1989.  "Agency Costs, Net Worth, and Business Fluctuations," ''American Economic Review'', 79(1), pp. [https://www.jstor.org/pss/1804770 14]-31.<br/>&nbsp;&nbsp; • [[Biography:Irving Fisher|Irving Fisher]], 1933.  "The Debt-Deflation Theory of Great Depressions," ''Econometrica'', 1(4), pp. [https://fraser.stlouisfed.org/title/3596 337-357.] {{Webarchive|url=https://web.archive.org/web/20200131093521/https://fraser.stlouisfed.org/title/3596 |date=2020-01-31 }}<br/>&nbsp;&nbsp; • P. Bridel, 2008. "credit cycle," ''The New Palgrave Dictionary of Economics'', 2008. 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_C000429&q=credit%20cycles&topicid=&result_number=1 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120326015425/http://www.dictionaryofeconomics.com/article?id=pde2008_C000429&q=credit%20cycles&topicid=&result_number=1 |date=2012-03-26 }}<br/>&nbsp;&nbsp; • [[Biography:Mark Gertler (economist)|Mark Gertler]], 1988. "Financial Structure and Aggregate Economic Activity: An Overview," ''Journal of Money, Credit and Banking'', 20(3), pp. [http://www.nviegi.net/teaching/master/gertler.pdf 559-588] {{Webarchive|url=https://web.archive.org/web/20110617223330/http://www.nviegi.net/teaching/master/gertler.pdf |date=2011-06-17 }}.<br/>&nbsp;&nbsp; • Steven Gjerstad and [[Biography:Vernon L. Smith|Vernon L. Smith]], 2009. "[https://www.wsj.com/articles/SB123897612802791281 From Bubble to Depression?] {{Webarchive|url=https://web.archive.org/web/20150213021712/https://www.wsj.com/articles/SB123897612802791281 |date=2015-02-13 }}"  ''Wall Street Journal'',  April 6.<br/>&nbsp;&nbsp; • Hyman P. Minsky, 1957. "Monetary Systems and Accelerator Models,"''American Economic Review'', 47(6), pp. [http://digitalcommons.bard.edu/cgi/viewcontent.cgi?article=1022&context=hm_archive&sei-redir=1&referer=http%3A%2F%2Fwww.google.com%2Fsearch%3Fgcx%3Dw%26ix%3Dc1%26sourceid%3Dchrome%26ie%3DUTF-8%26q%3D%2522Monetary%2BSystems%2Band%2BAccelerator%2BModels%252C%2522#search=%22Monetary%20Systems%20Accelerator%20Models%2C%22 860-883] {{Webarchive|url=https://web.archive.org/web/20120425073517/http://digitalcommons.bard.edu/cgi/viewcontent.cgi?article=1022&context=hm_archive&sei-redir=1&referer=http:%2F%2Fwww.google.com%2Fsearch%3Fgcx=w&ix=c1&sourceid=chrome&ie=UTF-8&q=%22Monetary+Systems+and+Accelerator+Models%2C%22#search=%22Monetary%20Systems%20Accelerator%20Models%2C%22 |date=2012-04-25 }}.<br/>&nbsp;&nbsp; • Steve Fazzari and Hyman Minsky, 1984. "Domestic Monetary Policy: If Not Monetarism, What?" ''Journal of Economic Issues'', 18(1), "Economic Policy for the Eighties and Beyond," pp. [https://www.jstor.org/pss/4225414 101]-116. Reprinted in M. Tool, ed., 1984, ''An Institutionalist Guide to Economics and Public Policy'', pp. [https://books.google.com/books?id=vB3BXVrS7f0C&pg=PA101=false 101-116].<br/>&nbsp;&nbsp; • Lance Taylor and Stephen A. O'Connell, 1985. "A Minsky Crisis," ''Quarterly Journal of Economics'', 100(3, Supplement), pp. [http://www.econ.fea.usp.br/gilberto/eae5948_2_2007/taylor_oconnell_1985.pdf 871-885.] {{webarchive|url=https://web.archive.org/web/20120425073518/http://www.econ.fea.usp.br/gilberto/eae5948_2_2007/taylor_oconnell_1985.pdf |date=2012-04-25 }}<br/>&nbsp;&nbsp; • [[Biography:Mervyn King, Baron King of Lothbury|Mervyn King]], 1994.  "Debt Deflation: Theory and Evidence,"  ''European Economic Review'', 38(3-4), pp. 419-445. [https://archive.today/20120913033343/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6V64-45R2GBB-2&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=94f77a0a2516e81cbf5dbfe0038ee48d Abstract.]<br/>&nbsp;&nbsp; • Enrique G. Mendoza, 2006.  "Lessons from the Debt-Deflation Theory of Sudden Stops," ''American Economic Review'', 96(2), pp. 411–416. {{JSTOR|30034682}}<br/>&nbsp;&nbsp; • [[Biography:Nobuhiro Kiyotaki|Nobuhiro Kiyotaki]] and John H. Moore, 1997.  "Credit Cycles," ''Journal of Political Economy'', 105(2), pp. 211–248. {{JSTOR|2138839}}<br/>&nbsp;&nbsp; • Guillermo A. Calvo and Enrique G. Mendoza, 2000.  "Capital-Markets Crises and Economic Collapse in Emerging Markets: An Informational-Frictions Approach,' ''American Economic Review'', 90(2), pp. [https://www.jstor.org/pss/117192 59]-64.<br/>&nbsp;&nbsp; • [[Biography:Wynne Godley|Wynne Godley]] and Marc Lavoie, 2007. ''Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth''. Palgrave MacMillan. Description & contents [http://www.palgrave.com/products/title.aspx?is=0230500552#Description links] {{Webarchive|url=https://web.archive.org/web/20131104111947/http://www.palgrave.com/products/title.aspx?is=0230500552#Description |date=2013-11-04 }} and [http://www.wynnegodley.com/review.htm review] {{webarchive|url=https://web.archive.org/web/20081120235143/http://www.wynnegodley.com/review.htm |date=2008-11-20 }}.</ref> and the relationship between the [[Aggregate demand|demand for output]] and the demand for money

<ref name=n4>• Karl Brunner and [[Biography:Allan H. Meltzer|Allan H. Meltzer]], 1988. "Money and Credit in the Monetary Transmission Process," ''American Economic Review'', 78(2), pp. [https://www.jstor.org/pss/1818166 446]-451.<br/>&nbsp;&nbsp; • Edward Nelson, 2002. "Direct Effects of Base money on Aggregate Demand: Theory and Evidence,"  ''Journal of Monetary Economics'', 49(4), pp. 687-708. [http://www.sciencedirect.com/science/article/pii/S0304393202001186 Abstract] {{Webarchive|url=https://web.archive.org/web/20150924171310/http://www.sciencedirect.com/science/article/pii/S0304393202001186 |date=2015-09-24 }}.J. M. Keynes, 1937. "The General Theory of Employment," ''Quarterly Journal of Economics'', 51, (2), pp. [http://membres.multimania.fr/yannickperez/site/Keynes%201937.PDF 209-223] {{webarchive|url=https://web.archive.org/web/20120105115704/http://membres.multimania.fr/yannickperez/site/Keynes%201937.PDF |date=2012-01-05 }}.<br/>&nbsp;&nbsp; • Anthony M. Santomero and John J. Seater, 1981. "Partial Adjustment in the Demand for Money: Theory and Empirics," ''American Economic Review'', 71(4), pp. [https://www.jstor.org/pss/1806181 566]-578.</ref>

<ref name=wil>• [[Biography:William A. Barnett|William A. Barnett]], 2008.  "monetary aggregation," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_M000351&q=monetary%20economics&topicid=&result_number=3 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120215083157/http://www.dictionaryofeconomics.com/article?id=pde2008_M000351&q=monetary%20economics&topicid=&result_number=3 |date=2012-02-15 }}<br/>&nbsp;&nbsp; • Phillip Cagan, 1965.  ''Determinants and Effects of Changes in the Stock of Money, 1875-1960''. NBER. Foreword by Milton Friedman, pp. xiii-xxviii. [https://www.nber.org/books/caga65-1 Table of Contents.] {{Webarchive|url=https://web.archive.org/web/20201019222203/https://www.nber.org/books/caga65-1 |date=2020-10-19 }}
<br/>&nbsp;&nbsp; • Milton Friedman and Anna Jacobson Schwartz, 1970.  "Introduction," ''Monetary Statistics of the United States''. Princeton. [https://www.nber.org/chapters/c5279.pdf pp. 89-92.] {{Webarchive|url=https://web.archive.org/web/20180127161131/http://www.nber.org/chapters/c5279.pdf |date=2018-01-27 }} Review,  [[Biography:Allan H. Meltzer|Allan H. Meltzer]], 1971.  ''J of Business'', 44(3), pp. [https://www.jstor.org/pss/2351347 335]-337.<br/>&nbsp;&nbsp; • Paul A. Spindt, 1985. "Money Is What Money Does: Monetary Aggregation and the Equation of Exchange," ''Journal of Political Economy'', 93(1), pp. [https://www.jstor.org/pss/1830507 175]-204.<br/>&nbsp;&nbsp; • Michael T. Belongia, 1996.  "Measurement Matters: Recent Results from Monetary Economics Reexamined," ''Journal of Political Economy'', 104(5), pp. [https://www.jstor.org/pss/2138952 1065]-1083.</ref>

<ref name=mat>• Matteo Iacoviello, 2005.  "House Prices, Borrowing Constraints, and Monetary Policy in the Business Cycle," ''American Economic Review'', 95(3), pp. [http://www2.bc.edu/~iacoviel/research_files/AER_2005.pdf 739-764.] {{webarchive|url=https://web.archive.org/web/20090319235045/http://www2.bc.edu/~iacoviel/research_files/AER_2005.pdf |date=2009-03-19 }}<br/>&nbsp;&nbsp; • Ben Bernanke and Mark Gertler, 1999. "Monetary Policy and Asset Price Volatility," ''Economic Review'', Federal Reserve Bank of Kansas City, (4), pp. [https://www.kansascityfed.org/publicat/econrev/PDF/4q99bern.pdf 17-51.] {{Webarchive|url=https://web.archive.org/web/20101217143433/http://kansascityfed.org/PUBLICAT/ECONREV/PDF/4q99bern.pdf |date=2010-12-17 }}<br/>&nbsp;&nbsp; • _____, 2001.  "Should Central Banks Respond to Movements in Asset Prices?" ''American Economic Review'',  91(2), pp. [http://rbidocs.rbi.org.in/rdocs/content/pdfs/73219.pdf 253-257.] {{Webarchive|url=https://web.archive.org/web/20110721181329/http://rbidocs.rbi.org.in/rdocs/content/pdfs/73219.pdf |date=2011-07-21 }}<br/>&nbsp;&nbsp; • Frederic S. Mishkin, 2007.  [http://www.federalreserve.gov/newsevents/speech/mishkin20071105a.htm "Financial Instability and Monetary Policy,"] {{Webarchive|url=https://web.archive.org/web/20090223174206/http://www.federalreserve.gov/newsevents/speech/mishkin20071105a.htm |date=2009-02-23 }} Risk USA Conference.<br/>&nbsp;&nbsp; • Claudio E.V. Borio and William R. White, 2003.  "Whither Monetary and Financial Stability? The Implications of Evolving Policy Regimes," in ''Monetary Policy and Uncertainty: Adapting to a Changing Economy'', pp. [http://www.frbkc.org/publicat/sympos/2003/pdf/Boriowhite2003.pdf 131-211.] {{Webarchive|url=https://web.archive.org/web/20090319235046/http://www.frbkc.org/publicat/sympos/2003/pdf/Boriowhite2003.pdf |date=2009-03-19 }}  Federal Reserve Bank of Kansas City.<br/>&nbsp;&nbsp; • Otmar Issing, 2003.  [http://www.ecb.int/press/key/date/2003/html/sp030329.en.html "Monetary and Financial Stability: Is There a Trade-off?,"] {{Webarchive|url=https://web.archive.org/web/20090618163037/http://www.ecb.int/press/key/date/2003/html/sp030329.en.html |date=2009-06-18 }} ''Monetary Stability, Financial Stability and the Business Cycle'', European Central Bank Conference.<br/>&nbsp;&nbsp; • Charles P. Kindleberger and Robert Z. Aliber, [1978] 2009. ''Manias, Panics, and Crashes: A History of Financial Crises'', 6th edition. Palgrave. [http://www.palgrave.com/resources/catalogue/pdfs/2009/Economics2009.pdf#page=11 Description & TOC.] {{Webarchive|url=https://web.archive.org/web/20100331064226/http://www.palgrave.com/resources/catalogue/pdfs/2009/Economics2009.pdf#page=11 |date=2010-03-31 }}<br/>&nbsp;&nbsp; • 2008:4. [https://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=4117 "Kenneth Rogoff Interview,"] {{Webarchive|url=https://web.archive.org/web/20140902034319/https://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=4117 |date=2014-09-02 }} ''The Region'', Federal Reserve Bank of Minneapolis.<br/>&nbsp;&nbsp; • Lawrence Summers, 2007. [http://didattica.unibocconi.it/mypage/upload/48805_20081002_034354_8077-SUMMERS1.20071002.094803.PDF "Beware Moral Hazard Fundamentalists,"] {{Webarchive|url=https://web.archive.org/web/20110722063202/http://didattica.unibocconi.it/mypage/upload/48805_20081002_034354_8077-SUMMERS1.20071002.094803.PDF |date=2011-07-22 }} ''Financial Times'', September 23.<br/>&nbsp;&nbsp; • William Poole, 2008.  [http://www.stlouisfed.org/news/speeches/2008/02_29_08.html "How Important Is Moral Hazard?,"] {{Webarchive|url=https://web.archive.org/web/20080516194848/http://www.stlouisfed.org/news/speeches/2008/02_29_08.html |date=2008-05-16 }}  Panel Discussion on Balancing Financial Stability, Price Stability and Macroeconomic Stability, U.S. Monetary Policy Forum.<br/>&nbsp;&nbsp; • Charles W. Calomiris, 2008. "banking crises,"  ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_B000051&q=banking%20crises&topicid=&result_number=1 Abstract.] {{Webarchive|url=https://web.archive.org/web/20090202063553/http://dictionaryofeconomics.com/article?id=pde2008_B000051&q=banking%20crises&topicid=&result_number=1 |date=2009-02-02 }}<br/>&nbsp;&nbsp; •  Lawrence H. Officer, 2008. [http://www.dictionaryofeconomics.com/resources/default/bailout "Topical Insight: Bailouts,"] {{Webarchive|url=https://web.archive.org/web/20090201132537/http://dictionaryofeconomics.com/resources/default/bailout |date=2009-02-01 }} ''The New Palgrave Dictionary of Economics Online''.<br/>&nbsp;&nbsp; • Takeo Hoshi and Anil K. Kashyap, 2010.  "Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan," ''Journal of Financial Economics'', 97(3), pp. 398-417. [http://www.sciencedirect.com/science/article/pii/S0304405X10000371 Abstract.]<br/>&nbsp;&nbsp; • Robert J. Barro, 2009. "Rare Disasters, Asset Prices, and Welfare Costs," ''American Economic Review'', 99(1), pp. [http://www.economics.harvard.edu/faculty/barro/files/consumption+risk+paper+aer+0309.pdf 243-64] {{webarchive|url=https://web.archive.org/web/20120321191000/http://www.economics.harvard.edu/faculty/barro/files/consumption+risk+paper+aer+0309.pdf |date=2012-03-21 }}.</ref>

<ref name=dimand>• Robert W. Dimand, 2008.  "macroeconomics, origins and history of" [http://www.dictionaryofeconomics.com/article?id=pde2008_M000370&q=macroeconomics&topicid=&result_number=1 (abstract)] {{Webarchive|url=https://web.archive.org/web/20120326015653/http://www.dictionaryofeconomics.com/article?id=pde2008_M000370&q=macroeconomics&topicid=&result_number=1 |date=2012-03-26 }} and "monetary economics, history of" [http://www.dictionaryofeconomics.com/article?id=pde2008_M000394&q=monetary%20economics%20&topicid=&result_number=1 (abstract)] {{Webarchive|url=https://web.archive.org/web/20120215082808/http://www.dictionaryofeconomics.com/article?id=pde2008_M000394&q=monetary%20economics%20&topicid=&result_number=1 |date=2012-02-15 }}, ''[[The New Palgrave Dictionary of Economics]]''. 2nd Edition.<br/>&nbsp; • Christina D. Romer and David H. Romer, 2007:2. "Monetary Economics," ''NBER Reporter'', pp. [http://www.nber.org/reporter/2007number2/2007number2.pdf 1-6] {{Webarchive|url=https://web.archive.org/web/20110611132607/http://www.nber.org/reporter/2007number2/2007number2.pdf |date=2011-06-11 }} Abstract-links [http://webcache.googleusercontent.com/search?q=cache:9HxWdwCWb2wJ:www.nber.org/reporter/2007number2/.&hl=en&ct=clnk&cd=1&gl=us version.]<br/>&nbsp; • [[JEL classification codes]].<br/>&nbsp; • [[Biography:David Hume|David Hume]],  1752.  [https://www.csus.edu/indiv/c/chalmersk/econ101sp11/humeofmoney.pdf "Of Money,"] {{Webarchive|url=https://web.archive.org/web/20200805080910/https://www.csus.edu/indiv/c/chalmersk/econ101sp11/humeofmoney.pdf |date=2020-08-05 }} "Of Interest," and "Of the Balance of Trade" in ''Essays, Moral, Political, and Literary''.
Reprinted in Hume, 1955, ''Writings on Economics'', Eugene Rotwein ed., linked [https://books.google.com/books?id=W00DP4Lx0BgC&pg=PR5 Table of Contents.]<br/>&nbsp; • Thomas Mayer, 1980. "David Hume and Monetarism," ''Quarterly Journal of Economics'', 95(1), pp. [https://www.jstor.org/discover/10.2307/1885350?uid=3739936&uid=2129&uid=2&uid=70&uid=4&uid=3739256&sid=55923832223 89]-101.<br/>&nbsp; • Henry Thornton, 1802.  ''Paper Credit''.  Contents, pp. [https://archive.org/details/bub_gb_4TY5AAAAMAAJ <!-- quote=thornton. --> ix]-[https://books.google.com/books?id=4TY5AAAAMAAJ&dq=thornton&pg=PA12 xii], & [http://oll.libertyfund.org/index.php?option=com_staticxt&staticfile=show.php%3Ftitle=2041&Itemid=28 chapter links.] {{Webarchive|url=https://web.archive.org/web/20081219224858/http://oll.libertyfund.org/index.php?option=com_staticxt&staticfile=show.php%3Ftitle=2041&Itemid=28 |date=2008-12-19 }}  [http://oll.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=2041&chapter=145565&layout=html&Itemid=27 Introduction] by [[Biography:Friedrich Hayek|Friedrich Hayek]], 1938.<br/>&nbsp; • W. Stanley Jevons, 1876 [1919].  ''Money and the Mechanism of Exchange''. Chapter-preview [https://books.google.com/books?id=nCk5AAAAMAAJ&pg=PR11 links.]<br/>&nbsp; • Carl Menger, 1892.  "On the Origin of Money," ''Economic Journal'', 2(6), pp. [http://mason.gmu.edu/~tfemino/Files/Menger-Origin-Money.pdf 239–255.] {{webarchive|url=https://web.archive.org/web/20090319235044/http://mason.gmu.edu/~tfemino/Files/Menger-Origin-Money.pdf |date=2009-03-19 }}<br/>&nbsp; • [[Biography:Knut Wicksell|Knut Wicksell]], [1898] 1936.  ''Interest and Prices'', tr. R.F. Kahn. Macmillan, Chapter links, pp. [https://books.google.com/books?id=wqSW2rSIvrkC&dq=wicksell+%22interest+and+prices%22&pg=PR5 v]-[https://books.google.com/books?id=wqSW2rSIvrkC&dq=wicksell+%22interest+and+prices%22&pg=PR6 vi.]<br/>&nbsp; • _____, [1906] 1929. ''Lectures on Political Economy'', v. [https://mises.org/books/LPEvol2.pdf 2]: Money, tr. E. Classen, 1935.  Discussed in Lionel Robbins'  Introduction to v. [https://mises.org/books/LPEvol1.pdf 1]: General Theory, pp. xv-xviii.<br/>&nbsp; • A.C. Pigou, 1917.  "The Value of Money." ''Quarterly Journal of Economics'', 32 (1), pp. [https://www.jstor.org/pss/1885078 38]-65. Reprinted in part in A.C. Pigou (1924), ''Essays in Applied Economics'', pp. [https://books.google.com/books?id=FXU40tmugnIC&pg=PA175 175-] 204.<br/>&nbsp; • [[Biography:Irving Fisher|Fisher, Irving]], [1911] 1922, 2nd ed..  ''The Purchasing Power of Money: Its Determination and Relation to Credit, Interest, and Crises''<br/>&nbsp; • [[Biography:John Maynard Keynes|John Maynard Keynes]], 1923. ''A Tract on Monetary Reform''. Macmillan. Reviews, [https://www.jstor.org/pss/2223164 1924] & [http://econ161.berkeley.edu/Econ_Articles/Reviews/monetaryreform.html 1996] {{webarchive|url=https://web.archive.org/web/20091014061308/http://econ161.berkeley.edu/Econ_Articles/Reviews/monetaryreform.html |date=2009-10-14 }}.<br/>&nbsp; • _____, 1936.  ''The General Theory of Employment, Interest and Money''. Macmillan.<br/>&nbsp; • Gary S. Becker and William J. Baumol, 1952.  "The Classical Monetary Theory: The Outcome of the Discussion," ''Economica'', NS 19(76), pp. [https://www.jstor.org/pss/2551104 355] {{Webarchive|url=https://web.archive.org/web/20230116151043/https://www.jstor.org/stable/2551104 |date=2023-01-16 }}-376.<br/>&nbsp; • Paul A. Samuelson, 1968.  "What Classical and Neoclassical Monetary Theory Really Was," ''Canadian Journal of Economics'', 1(1), pp. 1-15, & ''Collected Scientific Papers'', 1972, v. III. pp. [https://books.google.com/books?id=xisb9usg790C&pg=PA529 529]-[https://books.google.com/books?id=xisb9usg790C&pg=PA529 543.]
<br/>&nbsp; • Robert Clower, 1969b. "What Traditional Monetary Theory Really Wasn't," ''Canadian Journal of Economics''. 2(2), pp. [https://www.jstor.org/pss/133641 299]-302.<br/>&nbsp; • David E.W. Laidler, 1991. ''The Golden Age of the Quantity Theory: The Development of Neoclassical Monetary Economics, 1870-1914''. Princeton UP. [http://press.princeton.edu/titles/4959.html Description] and [http://findarticles.com/p/articles/mi_qa5421/is_n4_v60/ai_n28638753/ review.]{{dead link|date=September 2018|bot=medic}}{{cbignore|bot=medic}}<br/>&nbsp; • Bennett T. McCallum, 1989.  ''Monetary Economics: Theory and Policy''. Macmillan. [https://www.scribd.com/doc/54703339/Monetary-Economics-Theory-and-Policy-MCCALLUM-1989 Preview.]</ref>

<ref name=tobin>• [[Biography:James Tobin|James Tobin]], 1992.  "money,"  ''The New Palgrave Dictionary of Finance and Money'', v. 2, pp. 770-79 & in 2008, ''The New Palgrave Dictionary of Economics''. 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_M000217&q=money&topicid=&result_number=5 Table of Contents] and [https://archive.today/20130103115750/http://www.inomics.com/cgi/repec?handle=RePEc:cwl:cwldpp:1013 Abstract.] Reprinted in Tobin, 1996, ''Essays in Economics'', v. 4, pp. [https://books.google.com/books?id=BIWEt8hRH2kC&pg=PA139 139]-[https://books.google.com/books?id=BIWEt8hRH2kC&pg=PA163 63.] MIT Press.<br/>&nbsp;&nbsp; • _____, 1961.  "Money, Capital, and Other Stores of Value,"  ''American Economic Review'', 51(2), pp. [https://www.jstor.org/pss/1914465 26]-37. Reprinted in Tobin, 1987, ''Essays in Economics'', v. 1, pp. [https://books.google.com/books?id=ar4-mvqsDpgC&pg=PA217 217]-[https://books.google.com/books?id=ar4-mvqsDpgC&pg=PA227 27.] MIT Press.<br/>&nbsp;&nbsp; • Paul A. Samuelson, 1958.  "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," ''Journal of Political Economy'', 66(6), pp. [http://www.econ.upenn.edu/~hfang/teaching/socialinsurance/readings/Samuelson58(6.3).pdf 467, 481-82] {{Webarchive|url=https://web.archive.org/web/20110720133014/http://www.econ.upenn.edu/~hfang/teaching/socialinsurance/readings/Samuelson58(6.3).pdf |date=2011-07-20 }}.<br/>&nbsp;&nbsp; • John Bryan, 1980. "Transaction Demand for Money and Moral Hazard," in ''Models of Monetary Economies'', ed. J. Kareken and N.Wallace, Federal Reserve Bank
of Minneapolis, pp. [https://www.minneapolisfed.org/publications_papers/books/models/pcc233.pdf 233-241] {{webarchive|url=https://web.archive.org/web/20130918235809/http://www.minneapolisfed.org/publications_papers/books/models/pcc233.pdf |date=2013-09-18 }} and References, pp. [https://www.minneapolisfed.org/publications_papers/books/models/refs.pdf 305-13.] {{webarchive|url=https://web.archive.org/web/20130918133846/http://www.minneapolisfed.org/publications_papers/books/models/refs.pdf |date=2013-09-18 }}<br/>&nbsp;&nbsp; • [[Biography:Nobuhiro Kiyotaki|Nobuhiro Kiyotaki]] and [[Biography:Randall Wright|Randall Wright]], 1989, "On Money as a Medium of Exchange," ''Journal of Political Economy'' 97(4), pp. [https://www.jstor.org/pss/1832197 927] {{Webarchive|url=https://web.archive.org/web/20230116151059/https://www.jstor.org/stable/1832197 |date=2023-01-16 }}-54.<br/>&nbsp;&nbsp; • _____, 1993.  "A Search-Theoretic Approach to Monetary Economics," ''American Economic Review'', 83(1), pp. [https://www.jstor.org/pss/2117496 63]-77.</ref>

<ref name=boyd>• J.H. Boyd, 2008.  "financial intermediation," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_F000320&q=financial%20institutions&topicid=&result_number=5 Abstract.]<br/>&nbsp;&nbsp;• Sudipto Bhattacharya, Anjan V. Thakor, and Arnoud W.A. Boot, 1998. "The Economics of Bank Regulation," ''Journal of Money, Credit, and Banking'', 30(4), pp. [https://apps.olin.wustl.edu/workingpapers/pdf/2006-06-038.pdf 745-770.] {{Webarchive|url=https://web.archive.org/web/20160304024716/https://apps.olin.wustl.edu/workingpapers/pdf/2006-06-038.pdf |date=2016-03-04 }}</ref>

<ref name=black>• Stanley W. Black, 2008.  "international monetary institutions," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_I000184&q=monetary%20system&topicid=&result_number=3 Abstract.] {{Webarchive|url=https://web.archive.org/web/20120326015754/http://www.dictionaryofeconomics.com/article?id=pde2008_I000184&q=monetary%20system&topicid=&result_number=3 |date=2012-03-26 }}<br/>&nbsp;&nbsp; •  Robert A. Mundell, 1971.  ''Monetary Theory: Interest, Inflation and Growth in the World Economy''. Goodyear. [http://www.robertmundell.net/books/main.asp?Title=Monetary%20Theory:%20Interest,%20Inflation%20and%20Growth%20in%20the%20World%20Economy Description.] {{Webarchive|url=https://web.archive.org/web/20070831172944/http://www.robertmundell.net/books/main.asp?Title=Monetary%20Theory:%20Interest,%20Inflation%20and%20Growth%20in%20the%20World%20Economy |date=2007-08-31 }}<br/>&nbsp;&nbsp; • Bennett T. McCallum, 1996.  ''International Monetary Economics''.  Oxford. [http://www.oup.com/us/catalog/he/subject/Economics/Macroeconomics/InternationalEconomics/?view=usa&ci=9780195094947 Description] {{Webarchive|url=https://web.archive.org/web/20110629034300/http://www.oup.com/us/catalog/he/subject/Economics/Macroeconomics/InternationalEconomics/?view=usa&ci=9780195094947 |date=2011-06-29 }} & chapter-preview [https://www.questia.com/library/book/international-monetary-economics-by-bennett-t-mccallum.jsp links.] {{Webarchive|url=https://web.archive.org/web/20230116151058/https://www.gale.com/databases/questia |date=2023-01-16 }}<br/>&nbsp;&nbsp; • Maurice Obstfeld and Kenneth S. Rogoff, 1996.  ''Foundations of International Macroeconomics''. MIT Press,   [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=3275&mode=toc Ch. 8-10.] {{webarchive|url=https://web.archive.org/web/20070321060218/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=3275&mode=toc |date=2007-03-21 }} [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=3275 Description.] {{webarchive|url=https://web.archive.org/web/20100809075637/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=3275 |date=2010-08-09 }}</ref>

<ref name=baumol>• William J. Baumol 1952. "The Transaction Demand for Cash: An Inventory Theoretic Approach," ''Quarterly Journal of Economics'', 66(4), pp. [http://www.cbe.csuhayward.edu/~alima/COURSES/6315/Week02/BaumolMoneyDemand.pdf 545–556.] {{webarchive|url=https://web.archive.org/web/20090319235046/http://www.cbe.csuhayward.edu/~alima/COURSES/6315/Week02/BaumolMoneyDemand.pdf |date=2009-03-19 }}
<br/>&nbsp;&nbsp; • James Tobin, 1956.  "The Interest-Elasticity of Transactions Demand for Cash," ''Review of Economics and Statistics'', 38(3), pp. [http://www.sbeusers.csuhayward.edu/~alima/COURSES/4315/..%5C6315/Week02/TobinTransactionsCash.pdf 241-247.]{{dead link|date=September 2018|bot=medic}}{{cbignore|bot=medic}} Reprinted in Tobin, ''Essays in Economics'', v. 1, ''Macroeconomics'', pp. [https://books.google.com/books?id=ar4-mvqsDpgC&dq=bl&pg=PA229 229]- [https://books.google.com/books?id=ar4-mvqsDpgC&dq=bl&pg=PA229] 242.<br/>&nbsp;&nbsp; • _____, 1958.  "Liquidity Preference as Behavior Towards Risk," ''Review of Economic Studies'' 25(1), pp. [http://cowles.econ.yale.edu/P/cm/m19/m19-01.pdf 65–86.] {{Webarchive|url=https://web.archive.org/web/20120306092115/http://cowles.econ.yale.edu/P/cm/m19/m19-01.pdf |date=2012-03-06 }}<br/>&nbsp;&nbsp; • [[Biography:Milton Friedman|Milton Friedman]], 1956.  "The Quantity Theory of Money: A Restatement," in ''Studies in the Quantity Theory of Money'', Chicago. Reprinted in ''The Optimum Quantity of Money'', 2005), pp. [https://books.google.com/books?id=XVCgcHQS_nQC&pg=PA51 51] {{Webarchive|url=https://web.archive.org/web/20230116151059/https://books.google.com/books?id=XVCgcHQS_nQC&pg=PA51&dq&source=gbs_toc_r&cad=0_0 |date=2023-01-16 }}-[https://books.google.com/books?id=XVCgcHQS_nQC&dq=%22Studies+in+the+Quantity+Theory+of+Money%22+restatement&pg=PA67 67.] {{Webarchive|url=https://web.archive.org/web/20230116151100/https://books.google.com/books?id=XVCgcHQS_nQC&pg=PA67&lpg=PR5&dq=%22Studies+in+the+Quantity+Theory+of+Money%22+restatement |date=2023-01-16 }}</ref>

}}

==References==
* ''Handbook of Monetary Economics'', Elsevier.
:[[Biography:Benjamin M. Friedman|Friedman, Benjamin M.]], and [[Biography:Frank Hahn|Frank H. Hahn]], ed., 1990.  v. 1 links for [https://web.archive.org/web/20080906163139/http://www.elsevier.com/wps/find/bookdescription.cws_home/601125/description#toc description & contents] and chapter-outline [http://www.sciencedirect.com/science?_ob=PublicationURL&_tockey=%23TOC%2324616%231990%23999989999%23576735%23FLP%23&_cdi=24616&_pubType=HS&_auth=y&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=04a9605789155c7db422a5a238ac803c previews]
:_____, 1990. v. 2 links for [https://web.archive.org/web/20081013101843/http://www.elsevier.com/wps/find/bookdescription.cws_home/601126/description#description description & contents] and chapter-outline [http://www.sciencedirect.com/science?_ob=PublicationURL&_tockey=%23TOC%2324616%231990%23999979999%23576734%23FLP%23&_cdi=24616&_pubType=HS&_auth=y&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=3244c03bd292f1601fd73223253d70fb previews.]
:Friedman, Benjamin, and [[Biography:Michael Woodford (economist)|Michael Woodford]], 2010. v. 3A & 3B links for  [https://web.archive.org/web/20101225054545/http://www.elsevier.com/wps/find/bookdescription.cws_home/724415/description#description description] & and chapter [http://www.sciencedirect.com/science/handbooks/15734498 abstract & TOC.]
* Boughton, James R.,  and Elmus R. Wicker, 1975.  ''The Principles of Monetary Economics''.
* Brunner, Karl, and [[Biography:Allan H. Meltzer|Allan H. Meltzer]], 1993. ''Money and the Economy: Issues in Monetary Analysis'', Cambridge.  [https://books.google.com/books?id=eGjfH47Roj4C&q=source=gbs_summary_s Description] and chapter previews, pp. [https://books.google.com/books?id=eGjfH47Roj4C&pg=PR9  ix]-[https://books.google.com/books?id=eGjfH47Roj4C&pg=PR10 x.]
*  [[Biography:Robert W. Clower|Clower, Robert W.]], ed., 1969.  ''Monetary Theory: Selected Readings'', Harmondsworth, Penguin.
*  Eden, Benjamin, 2005.  ''A Course in Monetary Economics: Sequential Trade, Money, and Uncertainty''. [https://web.archive.org/web/20050113085657/http://www.blackwellpublishing.com/book.asp?ref=0631215654 Description.]
* Gale, Douglas, 1982.  ''Money: in Equilibrium'', Cambridge University Press, Cambridge Economic Handbooks, 349 pp. {{ISBN|978-0-521-28900-9}}.  [https://ideas.repec.org/b/cup/cbooks/9780521289009.html Description] and [https://books.google.com/books?id=wQrCcUAqqx8C&dq=onepage&pg=PA1 preview].
* _____, 1983. ''Money: <!-- lower case "in" --> in Disequilibrium'', Cambridge Economic Handbooks, 382 pp.  {{ISBN|978-0-521-26917-9}}. [https://ideas.repec.org/b/cup/cbooks/9780521269179.html Description]  and [https://books.google.com/books?id=wQrCcUAqqx8C&pg=PA1=false preview].
* Goodhart, Charles, 1989.  ''Money, Information and Uncertainty'', 2nd Ed. MIT Press. [https://web.archive.org/web/20100719214622/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=4277 Description] and [https://web.archive.org/web/20090108034629/http://books.global-investor.com/books/12716/C.A.E.-Goodhart/Money%2C-Information-and-Uncertainty/ chapter titles.]
* Grandmont, Jean-Michel, 1985. ''Money and Value: A Reconsideration of Classical and Neoclassical Monetary Economics'', Econometric Society Monographs, v. 5, Cambridge University Press. {{ISBN|978-0-521-31364-3}}. [https://books.google.com/books?id=Uzx7x_BqwRYC&pg=PA202 Description] and [https://books.google.com/books?id=Uzx7x_BqwRYC preview] .
* Handa, Jagdish, 2007.  ''Monetary Economics'', 2nd ed.  Routledge. [http://www.routledge.com/books/details/9780415772099/ Description] and   [http://www.routledge.com/books/details/9780415772099/ preview].
* Harris, Laurence, 1981.  ''Monetary Theory''. New York: McGraw-Hill.
* [[Biography:John Hicks|Hicks, John R.]], 1967. ''Critical Essays in Monetary Theory'', Chapter preview [https://books.google.com/books?id=qVqeJP9DhvYC&q=gbs_summary_s links.] Oxford.
*  ''The New Palgrave Dictionary of Finance and Money'', 1992. 3 v. [http://www.palgrave.com/products/title.aspx?is=0333527224 Description.]
* ''[[The New Palgrave Dictionary of Economics]] Online'', 2008. Abstract links for  [http://www.dictionaryofeconomics.com/resources/themes_monetary_economics "Monetary Economics"] (alphabetical) and [http://www.dictionaryofeconomics.com/search_results?q=monetary&button_search=GO "monetary".]
* Rabin, Alan A., 2004.  ''Monetary Theory'' MPG Books: London. Arrow-page-searchable [https://books.google.com/books?id=d7DsAA0DpvEC&q=%22Rabin%22+%22Monetary+Theory%22 chapter] previews.
* {{cite book|title=General equilibrium models of monetary economies: Studies in the static foundations of monetary theory|series=Economic theory, econometrics, and mathematical economics|editor-first=Ross M.|editor-last=Starr|publisher=Academic Press|year=1989|isbn=978-0-12-663970-4|pages=351}}
* Walsh, Carl E., 2003. ''Monetary Theory and Policy'', 2nd ed., MIT Press. {{ISBN|0-262-23231-6}}. [https://web.archive.org/web/20080504043501/http://mitpress.mit.edu/catalog/item/default.asp?tid=9578&ttype=2 Description] and [https://books.google.com/books?id=eX3n3LSZVrIC chapter-preview links.]
* {{cite book|last=Woodford|first=Michael|author-link=Michael Woodford (economist)|year=2003|title=Interest and prices: Foundations of a theory of monetary policy|location=Princeton, New Jersey
|publisher=<!-- [http://press.princeton.edu/titles/7603.html  -->Princeton University Press<!-- ] --> |isbn=0-691-01049-8|url=http://press.princeton.edu/titles/7603.html}}

==External links==
* [https://web.archive.org/web/20120929223626/http://www.blackwellpublishing.com/journal.asp?ref=0022-2879 ''Journal of Money, Credit and Banking'']
* [http://www.elsevier.com/wps/find/journaldescription.cws_home/505566/description#description ''Journal of Monetary Economics'']
* [[Organization:National Bureau of Economic Research|NBER]] Working Papers: Links to [[JEL classification codes|JEL classes]] of abstracts or downloads for [http://www.nber.org/jel/E_index.html Macroeconomics and Monetary Economics], including:
:[http://www.nber.org/jel/E4.html (JEL: E4) Money and Interest Rates]
:[http://www.nber.org/jel/E_index.html (JEL: E5) Monetary Policy, Central Banking, and the Supply of Money and Credit]
:[http://www.slideshare.net/BabasabPatil/money-credit-and-finance#btnNext Presentation of Money, credit and finance an slideshow]
:What is money? an slideshow http://www.slideshare.net/MitchGreen/lesson-1-what-is-money#btnNext

{{DEFAULTSORT:Monetary Economics}}
[[Category:Monetary economics| ]]
[[Category:Macroeconomics]]

{{Sourceattribution|Monetary economics}}