"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

• Money, Other Assets, and Economic Activity. Consumption and investment (A.B. Abel). Why does money affect output? A survey (O.J. Blanchard). Credit rationing (D. Jaffee, J. Stiglitz). The macroeconomics of government finance (M. Haliassos, J. Tobin). Money, Inflation and Welfare. Inflation: Theory and evidence (B.T. McCallum). Costs of inflation (J. Driffill, G.E. Mizon, A.M. Ulph). The optimum quantity of money (M. Woodford). Monetary Policy. Rules versus discretion in monetary policy (S. Fischer). Targets and instruments of monetary policy (B.M. Friedman). Monetary policy in the open economy (R. Dornbusch, A. Giovannini).

"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

• Money, Other Assets, and Economic Activity. Consumption and investment (A.B. Abel). Why does money affect output? A survey (O.J. Blanchard). Credit rationing (D. Jaffee, J. Stiglitz). The macroeconomics of government finance (M. Haliassos, J. Tobin). Money, Inflation and Welfare. Inflation: Theory and evidence (B.T. McCallum). Costs of inflation (J. Driffill, G.E. Mizon, A.M. Ulph). The optimum quantity of money (M. Woodford). Monetary Policy. Rules versus discretion in monetary policy (S. Fischer). Targets and instruments of monetary policy (B.M. Friedman). Monetary policy in the open economy (R. Dornbusch, A. Giovannini).