Monetary Theory and Thought: Essays in Honour of Don Patinkin (1st ed. 1993)
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- Synopsis
- Don Patinkin's pioneering work, integrating monetary and value theory in a Walrasian general equilibrium context anticipated by almost two decades the line of research which attempts to recast macroeconomics by reference to its microeconomic foundations. The notion of an integrated set of markets offered intuitive perception of intermarket linkages. At the same time it highlighted some of the pitfalls of traditional neoclassical monetary analysis, such as the erroneous imputation of unitary elasticity to the demand curve for money. Patinkin's presentation of general equilibrium illuminated the difficulty in upholding the Keynesian notion of underemployment equilibrium. His insightful efforts to understand behaviour in labour markets in disequilibrium led him to provide the first well worked out example of the powerful implications of disequilibrium and thereby to lay the foundations for the disequilibrium analysis of the 1970s.
- Copyright:
- 1993
Book Details
- Book Quality:
- Publisher Quality
- ISBN-13:
- 9781349125357
- Related ISBNs:
- 9780333557365
- Publisher:
- Palgrave Macmillan UK, London
- Date of Addition:
- 02/16/21
- Copyrighted By:
- N/A
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.
- Edited by:
- Haim Barkai
- Edited by:
- Stanley Fischer
- Edited by:
- Nissan Liviatan
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