Handbook of Monetary Economics

"In the emerging tradition of the Handbooks in Economics, these two volumes offer a formidable array of contributions to the field which they survey..........an indispensable starting-point for graduate students and research workers who need a detailed guide to the state of monetary economics in the late 1980s." --The Economic Journal"....the two volumes would be regarded as invaluable additions to the literature." --Economic of Planning"...in many ways the most important publication to date in this branch of our subject.......On some topics it is easily the best writing available, combining a careful exposition of central ideas, with firm and persuasive judgements about what is correct and important." --Journal of Economic Surveys"Even at the hardcover price, the two volumes we now have represent very good value for money." --The Economic Record

• Introduction (B.M. Friedman, F.H. Hahn). Money in the Walrasian Economy. The transactions role of money (J.M. Ostroy, R.M. Starr). Liquidity (F.H. Hahn). Money in general equilibrium theory (D. Duffie). Money in Non-Walrasian Settings. Non-Walrasian equilibrium, money and macroeconomics (J.-P. Benassy). The game theoretic approach to the theory of money and financial institutions (M. Shubik). Money in Dynamic Systems. Money, inflation and growth (A. Orphanides, R. Solow). Overlapping generations models with money and transactions costs (W.A. Brock). Money Demand and Money Supply. The demand for money (S. Goldfeld, D.E. Sichel). Money supply (K. Brunner, A.H. Meltzer). The supply of money and the control of nominal income (L. Papademos, F. Modigliani). Pricing Non-Money Assets. Capital market theory and the pricing of financial securities (R.C. Merton). Specification and estimation of intertemporal asset pricing models (K.J. Singleton). The term structure of interest rates (R.J. Shiller, J.H. McCulloch).