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Money and Finance in the Macroeconomic Process
James Tobin critiques the standard IS-LM macroeconomic framework and proposes a sophisticated multi-asset alternative to better capture the complexities of a modern financial economy. He argues that traditional models are deficient because they ignore the dynamics of stocks and flows, over-aggregate non-monetary assets, and fail to explicitly model the operations of monetary and fiscal policy. Tobin concludes that his approach preserves the core Keynesian insights on policy effectiveness while offering a more realistic and powerful tool for analyzing stabilization policies, both in the short run and in long-run steady-state growth, where financial policies are shown to be non-neutral.
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| JMCB1402 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | Ohio: Ohio State University Press 1982 |
|---|---|
| Edisi | - |
| Subjek | Portfolio Choice Multi-Asset Macroeconomic Model Stock-Flow Consistency q Theory of Investment Monetary Policy Operations |
| ISBN/ISSN | 00222879 |
| Klasifikasi | NONE |
| Deskripsi Fisik | - |
| Info Detail Spesifik | Journal of Money, Credit and Banking |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |