MARC Record from marc_nuls

LEADER: 06356cam 22003734a 4500
001 9919677100001661
005 20150423122136.0
008 020125s2002 enka b 001 0 eng
010 $a 2002019549
015 $aGBA2-53911
019 $a50433571
020 $a184064740X
029 1 $aUKM$bbA253911
035 $a(CSdNU)u163660-01national_inst
035 $a(OCoLC)48951092
035 $a(OCoLC)48951092
040 $aDLC$cDLC$dUKM$dOrPss
042 $apcc
049 $aCNUM
050 00 $aHG4523$b.D38 2002
082 00 $a332$221
100 1 $aDavidson, Paul,$d1930-
245 10 $aFinancial markets, money, and the real world /$cPaul Davidson.
260 $aCheltenham, UK ;$aNorthampton, MA :$bEdward Elgar,$cc2002.
300 $aix, 265 p. :$bill. ;$c24 cm.
504 $aIncludes bibliographical references and index.
505 0 $aKeynes, you should be alive today! -- Postwar economic performance -- Keynes's revolution -- The academic resurrection of classical economics -- Differing views on the role of financial markets -- Keynes, the poet of money -- A brief outline of this monograph -- Keynes's principle of effective demand -- Is lack of competition the fundamental cause of unemployment? Liquidity versus Say's Law -- Say's Law -- Classification and the principle of effective demand -- Why flexible wages do not assure full employment -- Some further clarifications -- A simple illustration of the principle of effective demand -- Deriving Keynes's aggregate supply and demand analysis from Marshallian micro demand and supply functions -- Uncertainty and reality in economic models -- A parable: the fable of the P's, or what mortals these P's fool! -- Axioms and model building -- Classical axioms and money's elasticity properties -- Two concepts of economic reality -- A brief excursion into the history of economic thought -- Uncertainty and ergodic stochastic processes -- Immutable versus transmutable theories of reality -- Uncertainty and 'irrational' behavior -- Crucial decisions and Schumpeterian entrepreneurs -- Are probabilities knowable but unknown because of limited human computing power? -- Investment: illiquid real capital versus liquid assets -- Two types of investment -- Markets, contracts, liquidity and chartalist money -- Financing and funding assets: why money matters -- Asset position taking and liquidity -- Real capital, savings, time preference and liquidity preference -- Attributes of all durables -- Why liquidity preference? -- The four motives for holding money -- The demand for the medium of contractual settlement -- The demand for a liquid time machine -- Bulls versus bears -- The finance motive and endogenous money -- The finance motive, finance and funding -- Endogenous versus exogenous money -- Financial markets, liquidity and fast exits -- The double-edged sword of financial markets -- Market liquidity, fast exits and funding investments -- The market for securities -- The different role of banks and nonbank financial intermediaries -- Bank loans and money-market financial intermediaries -- Planned investment, planned savings, liquidity and economic growth -- Harrod's actual, warranted and natural rates of growth -- Planned savings and the supply of financial assets -- Ownership and liquidity -- External funding and savers' 'nonspeculative' demand for securities -- Actual growth when new issues exceed the nonspeculative demand for securities -- The contractionary case with a bull market -- Economic growth, liquidity and funding 'other' spending sectors -- Some conclusions -- Complicating the picture: money and international liquidity -- Open versus closed and unionized versus nonunionized monetary systems -- Aggregate accounting as a basis for the closed-open dichotomy -- The accounting value of exports and imports and transfer pricing -- The balance of payments accounting statement -- Measuring the degree of openness -- The UMS-NUMS classification -- Exchange uncertainty -- Was the gold standard a UMS? -- Trade imbalances and international payments -- Classical real adjustment processes -- Trade adjustments, payments adjustments and the Marshall-Lerner condition -- Income effects and payments imbalances -- Thirlwall's Law: extending Harrod's trade multiplier analysis -- The demand for money - domestic or international -- The need for reserves -- International liquidity and exchange rate stability -- The facts versus the theory of flexible exchange rates -- Fixed versus flexible exchange rates and asset holdings -- The efficient market hypothesis again -- Who should 'make' the exchange rate market? -- If markets are efficient why has there been so much volatility in financial markets? -- Efficiency versus liquidity -- Taxing volatility: theory versus the facts -- Ergodicity, efficient markets and noise traders -- Summers, Tobin and super-efficient markets -- Keynes, speculation and liquid financial markets -- Keynes, liquid financial markets and the empirical findings -- Ergodicity, efficient markets and the empirical findings -- Are real capital allocation decisions efficient? -- Speculative whirlpools and bandwagons -- A policy implication: buffering conventional wisdom -- Exchange rates and the Tobin tax -- Is social control of exchange markets bad? -- Capital uncertainty, speculative flows and the Tobin tax -- The plumbers' solution to destabilizing international capital flows -- Capital movements -- Flexible exchange rates and export-led growth -- Explaining the facts -- A lesson from the gold standard era -- Plumbing solutions to end financial market volatility -- The Bretton Woods experience and the Marshall Plan -- The architectural solution: reforming the world's money -- Reforming the international payments system -- Alternative financial architectural proposals -- Criticism of Williamson's FEER proposal -- Criticism of McKinnon's PPP proposal -- A comparison of the three architectural proposals -- What if? -- The economy and the twenty-first century -- The positive role of government.
650 0 $aCapital market.
650 0 $aInternational finance.
650 0 $aLiquidity (Economics)
650 0 $aMoney.
949 $aHG 4523 .D38 200$i31786101590815
994 $a92$bCNU
999 $aHG 4523 .D38 2002$wLC$c1$i31786101590815$d4/12/2004$f4/12/2004$g1 $lCIRCSTACKS$mNULS$rY$sY$tBOOK$u8/1/2003