Overlapping Structures as a Model of Money

Overlapping Structures as a Model of Money

Author: Bruno Schönfelder

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 252

ISBN-13: 3642457134

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The list of those to whom I am indebted is a long one. Prof. Neil Wallace (University of Minnesota) stimulated my interest in the kind of models with which the book deals. I am grateful for a large number of conversations with him. I learned a lot from him and will always be proud that I have been one of his student. I hope that he is not dissappointed with the outcome. I am deeply indebted to Prof. Dr. Hans-Werner Sinn (University of Munich). His observations and critical remarks were instrumental for a great number of changes and improvements which I was able to introduce while revising the manuscript again and again, and rethinking the basic arguments. I also want to thank Prof. Dr. Utta Gruber (University of Munich) for her helpful comments and for her support. I am very much obliged to Prof. Dr. Dr. h. c. Hans Moller (University of Munich). For many years I have had the honour of a nearly continuous dialogue with him. I am also grateful to Prof. Dr. Werner Gumpel (University). The stimulating atmosphere and the research opportunities which were provided by his seminar contributed a lot to my work. Finally I want to thank my wife Sigrid for looking through the English draft of this book and correcting numerous linguistic flaws. The remaining errors are of course mine. CONTENTS Page v Preface 1. INTRODUCTION 1. 1.


Modeling Monetary Economies

Modeling Monetary Economies

Author: Bruce Champ

Publisher: Cambridge University Press

Published: 2016

Total Pages: 407

ISBN-13: 1107145228

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"Too often monetary economics has been taught as a collection of facts about institutions for students to memorize. By teaching from first principles instead, this advanced undergraduate textbook builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. Starting with the case in which trade is mutually beneficial, the book demonstrates that money makes people better off, and that government money competes against other means of payments, including other types of government money. After developing each of these topics, the book tackles the issue of money competing against other stores of value, examining issues associated with trade, finance, and modern banking. The book then moves from simple economies to modern economies, addressing the role banks play in making more trades possible, concluding with the information problems plaguing modern banking, which result in financial crises"--


Currency Overlay

Currency Overlay

Author: Neil Record

Publisher: John Wiley & Sons

Published: 2004-02-06

Total Pages: 316

ISBN-13: 0470871636

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Currency overlay is the management of the currency exposure inherent in cross-border institutional investments. Exposure to foreign currencies increases the volatility of their returns, without increasing the returns themselves and academics and consultants recommended that the currency exposure should be stripped out of international portfolios and eliminated as far as practicable. This book provides a comprehensive description of currency overlay, its history and possible future developments and growth, the reason for its emergence, the debates and controversies, the different styles of currency management, and the industry's performance track record. This is a subject of international appeal and is an area of particular growth potential for institutional investors. Coverage includes: The theoretical case for eliminating currency risk in international portfolios The interplay between asset returns and currency returns, and the effect of this on hedging decisions Benchmarks - their construction and strategic role Least-cost passive overlay The structure of the currency market, and its 'inefficiencies' Active overlay styles Active overlay both restricted and unrestricted (currency alpha) Uses diagrams, charts, tables and explanatory boxes to explain concepts


Overlapping Structures as a Model of Money

Overlapping Structures as a Model of Money

Author: Bruno Schonfelder

Publisher:

Published: 1992-05-13

Total Pages: 256

ISBN-13: 9783642457142

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The book reviews monetary applications of overlapping gene- rations models and models with cash-in-advance constraints. It focuses on the implications for monetary economics. It tries to make sense of the available indeterminancy propositions. They are the most puzzling property of OGMs. The book surveys and synthesizes most of the available research papers. Assesses the usefulness of the approach for the advancement of monetary economics. The book can be used as a non-technical introductory text, which relies foremost on intuitive arguments.


Monetary Economics

Monetary Economics

Author: Jagdish Handa

Publisher: Routledge

Published: 2008-09-18

Total Pages: 1199

ISBN-13: 1135981833

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This successful text, now in its second edition, offers the most comprehensive overview of monetary economics and monetary policy currently available. It covers the microeconomic, macroeconomic and monetary policy components of the field. Major features of the new edition include:Stylised facts on money demand and supply, and the relationships betw


Monetary Growth Theory

Monetary Growth Theory

Author: Wei-Bin Zhang

Publisher: Routledge

Published: 2008-07-23

Total Pages: 395

ISBN-13: 1134043716

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This book answers some challenging questions in monetary growth theory within a compact theoretical framework. The author succeeds in integrating the theory of money, the theory of value and the theory of growth. The book re-examines many important ideas in modern monetary economics within a single analytical framework. It is concerned not only wit


Theories of International Trade

Theories of International Trade

Author: Adam Klug

Publisher: Routledge

Published: 2006-09-27

Total Pages: 186

ISBN-13: 1134307063

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This book presents the results of a thorough survey into the different theories of international trade. Conducted by the Israeli economic historian Klug before his untimely death in 2000, and now available for the first time.


New Perspectives on Asset Price Bubbles

New Perspectives on Asset Price Bubbles

Author: Douglas D. Evanoff

Publisher: OUP USA

Published: 2012-02-08

Total Pages: 482

ISBN-13: 0199844402

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This volume critically re-examines the profession's understanding of asset bubbles in light of the global financial crisis of 2007-09. It is well known that bubbles have occurred in the past, with the October 1929 crash as the most demonstrative example. However, the remarkably well-behaved performance of the US economy from 1945 to 2006, and, in particular during the Great Moderation period of 1984 to 2006, assured the economics profession and monetary policymakers that asset bubbles could be effectively managed with little or no real economic impact. The recent financial crisis has now triggered a debate about the emergence of a sequence of repeated bubbles in the Nasdaq market, housing market, credit market, and commodity markets. The realities of the crisis have intensified theoretical modeling, empirical methodologies, and debate on policy issues surrounding asset price bubbles and their potentially adverse economic impact if poorly managed. Taking a novel approach, the editors of this book present five classic papers that represent accepted thinking about asset bubbles prior to the financial crisis. They also include original papers challenging orthodox thinking and presenting new insights. A summary essay highlights the lessons learned and experiences gained since the crisis.


Overlap of Neural Systems for Processing Language and Music

Overlap of Neural Systems for Processing Language and Music

Author: McNeel Gordon Jantzen

Publisher: Frontiers Media SA

Published: 2016-07-29

Total Pages: 117

ISBN-13: 2889199118

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The interplay between musical training and speech perception continues to intrigue researchers in the areas of language and music alike. Historically, language function has been attributed to brain regions localized predominately in left hemisphere, whereas music has been attributed to right hemisphere dominant regions. Recent studies demonstrating neural overlap for processing speech and music, and enhanced speech perception and production in musicians suggest that these regions may be inextricably intertwined. The extent of neural overlap between music and speech remains hotly debated, with surprisingly little empirical research exploring specific neural homo-logs and analogs. Moreover, despite recognition that shared processes likely exist throughout development and depend upon an individual’s acoustic experiences, even less research exists on how overlapping neural structures for music and language are affected by developmental trajectories. Nonetheless, the field is well poised to address key empirical questions, in part because of the recent development of new theories that address the neural and developmental interaction between music and language processing in conjunction with the broad availability of sophisticated tools for quantifying brain activity and dynamics. To understand the overlap of neural structures for language and music processing, research is needed to identify those specific functions of each that influence the other, with areas for enhanced perception of pitch and onset time having already been targeted. Research is also needed to identify the extent to which this overlap is developed in infancy or early childhood and the process by which it affects neural reorganization, plasticity, and trainability in adulthood. For this research topic, we would like to further explore the relationship between language and music in the brain from two perspectives: 1) understanding the nature of shared neural and cognitive processing for music and language and 2) understanding the developmental trajectory of these neural systems and how they are influenced by experience. We seek to gather technically diverse original research articles that present new empirical findings relevant to understanding: 1. When, in the brain, acoustic information becomes processed specifically as language or music. The shared and independent neural structures for processing music and language. 3. How acoustic experiences such as musical training influence overlap of neural structures for language and music. 4. How the overlap of processing regions changes over time due to experiences at any developmental stage.