The Theory of Money and Financial Institutions

von Martin Shubik

668 Seiten, Hardcover, ab 18 Jahre

Kurzbeschreibung des Verlags

The third and last volume of a work aimed at providing the theoretical underpinnings for an economic dynamics.This is the third and last volume of Martin Shubik's exposition of his vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using strategic market games and other game-theoretic methods.There is as yet no general dynamic counterpart to the elegant and mathematically well-developed static theory of general equilibrium. Shubik's paradigm serves as an intermediate step between general equilibrium and full dynamics. General equilibrium provides valuable insights on relationships in a closed, friction-free economic structure. Shubik aims to open up this limited structure to the rich environment of sociopolitical economy without dispensing with conceptual continuity.Volume 3 considers the specific roles of financial institutions and government, aiming to provide the link between the abstract study of invariant economic and financial functions and the ever-changing institutions that provide these functions. The concept of minimal financial institutions is stressed as a means to connect function with form in a parsimonious manner.

• Reihe: Theory of Money and Financial
• Themen: Wirtschaftswissenschaft, Finanzen, Betriebswirtschaft und Management Wirtschaftswissenschaft Ökonometrie und Wirtschaftsstatistik
• ISBN: 9780262013208
• Sprache: Englisch
• Erscheinungsdatum: 01.01.2011
• Größe: 236 x 162 mm
• Verlag: Penguin Random House LLC
• Empf. Lesealter: ab 18 Jahre