Monetary economics in the 1990's : the Henry Thornton lectures, numbers 9-17 / edited by Forrest Capie and Geoffrey E. Wood.

New York : St. Martin's Press, 1996.
x, 204 pages ; 23 cm


Summary note
  • This volume is the second collection of a series of lectures, held annually at City University, London, in honour of Henry Thornton, the renowned nineteenth-century monetary economist. As with the previous volume Monetary Economics in the 1980s, various aspects of monetary economics are examined further. The nine essays presented here are divided into four groups. Niels Thygesen, Roland Vaubel and Otmar Issing consider aspects of institutional design and its possible repercussions for monetary policy.
  • This theme is continued by Helmut Schlesinger and Charles Kindleberger in their discussion of the conduct of policy so as to maintain economic stability. This leads us on to the issues raised by David Laidler and Michael Mussa. Here consideration is given to business cycles, the relationship between wage and price stickiness and the implications for policy-makers.
  • . The lecture by Robert Barro reviews discussions by David Ricardo concerning the significance of budget deficits and concludes with an examination of their implications for interest rates, savings and current account deficits. In a similar vein Robert Shiller examines the relationship between market efficiency and the cause of booms and crashes.
"In association with Centre for Banking and International Finance, The City University, London."
Bibliographic references
Includes bibliographical references and index.
  • Introduction / Forrest Capie and Geoffrey E. Wood
  • 1. Ricardo and Budget Deficits / Robert Barro
  • 2. The Political Economy of International Money and Finance / Roland Vaubel
  • 3. Speculative Booms and Crashes / Robert Shiller
  • 4. Central Banking Tasks in a European Monetary Union / Niels Thygesen
  • 5. Wage and Price Stickiness in Macroeconomics: Historical Perspective / David Laidler
  • 6. The Lender of Last Resort: Pushing the Doctrine Too Far / Charles P. Kindleberger
  • 7. The Conduct of Monetary Policy in an Open Economy / Helmut Schlesinger
  • 8. The Triumph of Paper Credit / Michael Mussa
  • 9. Ethics and Morals in Central Banking: Do They Exist? Do They Matter? / Otmar Issing.
Other title(s)
Henry Thornton lectures
C - S
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