Controversies in Monetary Economics

John Smithin, Professor of Economics, Department of Economics and the Schulich School of Business, York University, Toronto, Canada

• Contents: Preface to the Revised Edition 1. Money and Economic Theory and Policy 2. The Nature and Functions of Money: A Re-Examination 3. Monetarism and the Quantity Theory of Money 4. Short-Run Non-Neutralities, Nominal Rigidities, Misperceptions and the Concept of the Phillips Curve 5. The Real Bills Doctrine, Interest Rate Pegging and Endogenous Money 6. Money, Interest Rates and Output 7. An Alternative Monetary Model of Inflation and Economic Growth 8. The International Economy and Alternative Exchange Rate Regimes 9. Inflation and the Economy 10. Concluding Remarks Index

'John Smithin's erudite and eloquent Controversies in Monetary Economics (now in a revised second edition) reminds us that a cashless economy is by no means a moneyless economy. Drawing on Keynes's concept of monetary production and on the later work of Sir John Hicks, Smithin argues persuasively for the continuing central importance of money in understanding interest rate determination and economic fluctuations. This insightful book illuminates the role of monetary policy, notably within the European Monetary Union.'