The Theory of Money
Exploring the function of money as a medium of exchange and a store of value, this major work provides a comprehensive introduction to the pure theory of money and moetary policy.
Jürg Niehans considers his subject in both its microeconomic and macroeconomic aspects. The analysis thus extends from the individual demand for money to monetary policy and the art of central banking. Each chapted opens with a brief, nontechnical summary of its contents; expository material and up-to-date references to the literature are integrated in the discussion. While mathematics is used extensively, the required tools do not go beyond the elements of multivariate calculus and nonlinear programming, this making the book appropriate as an introductory text for graduate and advanced undergraduate studies in economics.
About the Author
Jürg Niehans, professor of political economy at The Johns Hopkins Universit from 1966 to 1977, currently is professor of economics at the University of Bern, Switzerland. His works have appeared in many distinguished European and American journals, including the American Economic Review, the Journals of Money, Credit, and Banking, the Journals of International Economics, and the Journal of Political Economy. The Theory of Money is Niehan's fourth book.
"A comprehensive and elegant elaboration of the neoclassical tradition in monetary theory, snythesizing and extending Niehans's earlier work in this field."
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