Bruna Ingrao and Claudio Sardoni, University of Roma la Sapienza, Italy

'Financial markets are terribly important in a modern economy. Yet, economists have mostly preferred to approach money from highly simplified perspectives that shunt the complexities of finance to one side. Still, from time to time, economists have tried to grasp the nettle. Ingrao and Sardoni provide a highly readable historical account of those efforts to integrate banking and finance into macroeconomic theory, which illuminates both why the problem is a difficult one and why it is important.'--Kevin D. Hoover, Duke University, US'By historically analysing the ways in which macroeconomic theories have conceptualized the role of banks and financial markets, this book solves the puzzle of why mainstream macroeconomics puts the financial system in the background even though it has expanded enormously in its complex interaction with the real side of the economy.'--Mario Amendola, University of Rome, Italy

• Contents: PART I From the 1920s to the early postwar period 1. Introduction 2. Banks and the quantity theory: Wicksell and Fisher 3. Money and banking in the process of change: Schumpeter and Robertson 4. Banks, debt and deflation in the Great Depression 5. Keynes on banks in A Treatise, The General Theory and after 6. Further discussions and criticisms of Keynes’s General Theory PART II From the Neoclassical Synthesis to New Keynesian Economics 7. Finance in macroeconomics in the post-war years: The neoclassical synthesis 8. The Monetarist counter-revolution: from the ‘resuscitation’ to the disappearance of money 9. Credit and finance in today mainstream 10. Conclusions Index

Bruna Ingrao and Claudio Sardoni, University of Roma la Sapienza, Italy

'Financial markets are terribly important in a modern economy. Yet, economists have mostly preferred to approach money from highly simplified perspectives that shunt the complexities of finance to one side. Still, from time to time, economists have tried to grasp the nettle. Ingrao and Sardoni provide a highly readable historical account of those efforts to integrate banking and finance into macroeconomic theory, which illuminates both why the problem is a difficult one and why it is important.'--Kevin D. Hoover, Duke University, US'By historically analysing the ways in which macroeconomic theories have conceptualized the role of banks and financial markets, this book solves the puzzle of why mainstream macroeconomics puts the financial system in the background even though it has expanded enormously in its complex interaction with the real side of the economy.'--Mario Amendola, University of Rome, Italy

• Contents: PART I From the 1920s to the early postwar period 1. Introduction 2. Banks and the quantity theory: Wicksell and Fisher 3. Money and banking in the process of change: Schumpeter and Robertson 4. Banks, debt and deflation in the Great Depression 5. Keynes on banks in A Treatise, The General Theory and after 6. Further discussions and criticisms of Keynes’s General Theory PART II From the Neoclassical Synthesis to New Keynesian Economics 7. Finance in macroeconomics in the post-war years: The neoclassical synthesis 8. The Monetarist counter-revolution: from the ‘resuscitation’ to the disappearance of money 9. Credit and finance in today mainstream 10. Conclusions Index