aller au contenu
The high price of money : an interpretation of world interest rates
FermerAperçu de cet ouvrage

The high price of money : an interpretation of world interest rates

Auteur : Pierluigi Ciocca; Giangiacomo Nardozzi; Aviram Levy
Éditeur : Oxford [England] : Clarendon Press ; New York : Oxford University Press, 1996.
Édition/format :  Livre : AnglaisVoir toutes les éditions et les formats
Résumé :
This elegantly written book argues against the conventional wisdom that prevails in academic and official circles. According to this essentially neo-classical theory, the rate of interest depends solely on the amount of savings with respect to investment needs. It is implied that the high level of interest rates is not an economic policy problem but a fact of 'nature' - unpleasant, perhaps, but unalterable in the
Évaluation :

(pas encore évalué) 0 avec des critiques - Soyez le premier.

 

Trouver un exemplaire dans la bibliothèque

Récupération en cours... Recherche de bibliothèques qui possèdent cet ouvrage...

Détails

Format physique additionnel : Online version:
Ciocca, Pierluigi, 1941-
High price of money.
Oxford [England] : Clarendon Press ; New York : Oxford University Press, 1996
(OCoLC)654619235
Format : Livre
Tous les auteurs / collaborateurs : Pierluigi Ciocca; Giangiacomo Nardozzi; Aviram Levy
ISBN : 0198289499 9780198289494
Numéro OCLC : 34470990
Notes : "This English edition contains a new chapter (Chapter 7)--Preamble.
Description : x, 192 p. : ill. ; 23 cm.
Contenu : The High Price of Money. 1. The Neo-classical Theory of Interest. 2. Neo-classical Theory and the Facts. 3. The Keynesian Approach. 4. A Keynesian Reading of World Interest Rates, 1970-1993. 5. Some Significant Changes in Financial Structure. 6. An Old and a New Obstacle to Lower Rates: The Budget Deficit in the United States and the Reunification of Germany. 7. The New Rise in Interest Rates in 1994: A Direct Comparison Between the Two Theories. 8. Beyond the 'Conventions'. 9. We Are not Condemned... --
The Main Trends of Real Interest Rates (1960-1994). An Essay / A. Levy and F. Panetta. 1. The Evolution of Real Rates in the Leading Industrial Countries. 2. The Long-Term Relations Between Domestic and World Real Rates: A Co-integration Analysis. 3. Real Rates and Macroeconomic Variables. 4. Summary of the Empirical Evidence.
Autres titres : Alto prezzo del danaro.
Responsabilité : Pierluigi Ciocca and Giangiacomo Nardozzi ; with an essay on The main trends of real interest rates, 1960-1994 by Aviram Levy and Fabio Panetta ; translated by Timothy Keates.
Plus d’informations :

Résumé :

This elegantly written book argues against the conventional wisdom that prevails in academic and official circles. According to this essentially neo-classical theory, the rate of interest depends solely on the amount of savings with respect to investment needs. It is implied that the high level of interest rates is not an economic policy problem but a fact of 'nature' - unpleasant, perhaps, but unalterable in the short term without heavy costs.

The alternative perspective offered in this book is a Keynesian one, in which the explanation of economic facts can never be separated from the role of economic policy. This view posits interest rates as a 'conventional' phenomenon, rooted in the perceptions and expectations of a now global financial market. That is, they are self-fulfilling rather than inescapable costs. The essential economic facts of the last twenty years bear out the truth of this Keynesian approach to interest rates, and are at odds with neo-classical (Fisher-Wicksell) theory. The implication, then, is that the world is not condemned to a high rate of interest, with the risk of low investment, rising public indebtedness, stagnation, and unemployment. Conscious economic policies, coordinated at the international level, are capable of turning this largely conventional price towards non-inflationary growth.

Critiques

Critiques fournies par les utilisateurs

Tags

Soyez le premier.
Confirmez cette demande

Vous avez peut-être déjà demandé cet ouvrage. Veuillez sélectionner OK si vous voulez poursuivre avec cette demande quand même.

Fermer la fenêtre

Veuillez vous identifier dans WorldCat 

Vous n’avez pas de compte? Vous pouvez facilement créer un compte gratuit.

Annuler Mot de passe oublié?