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About this product
- DescriptionThis book provides a new methodological approach to money and macroecomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary ecomy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance sheets of the central bank or commercial bank. While households and firms hold accounts at banks with deposits, banks hold an account at the central bank where deposits are called reserves. The book aims to explain how the two monetary circuits - central bank deposits and bank deposits - are intertwined. It is also shown how government spending injects money into the ecomy. Modern Monetary Theory and European Macroecomics covers both the general case and then the Eurozone specifically. A very simple macroecomic model follows which explains the major accounting identities of macroecomics. Using this new methodology, the Eurozone crisis is examined from a fresh perspective. It turns out that t government debt but the stagnation of private sector debt was the major ecomic problem and that cuts in government spending worsened the ecomic situation. The concluding chapters discuss what a solution to the current problems of the Eurozone must look like, with scenarios that examine a future with and without a euro. This book provides a detailed balance sheet view of monetary and fiscal operations, with a focus on the Eurozone ecomy. Students, policy-makers and financial market actors will learn to assess the institutional processes that underpin a modern monetary ecomy, in times of boom and in times of bust.
- Author BiographyDirk H. Ehnts works as a lecturer in Economics at Bard College, Berlin.
- Author(s)Dirk H. Ehnts
- PublisherTaylor & Francis Ltd
- Date of Publication25/08/2016
- SubjectEconomics: Textbooks & Study Guides
- Series TitleRoutledge International Studies in Money and Banking
- Place of PublicationLondon
- Country of PublicationUnited Kingdom
- Content Note19 black & white illustrations, 3 black & white tables, 19 black & white line drawings
- Weight478 g
- Width156 mm
- Height234 mm
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