This volume, by two eminent monetarist economists, offers a unique perspective on a key issue of monetary economics: the effect of money on output. Karl Brunner and Allan Meltzer address the theoretical aspects of this issue with the purpose of understanding their policy implications. They offer an historical overview of the relationship between money and output,and then go on to present a model of a monetary economy before examining the real sector. The theme of the final lecture is uncertainty and the costs of acquiring information.
Allan H. Meltzer is a visiting scholar at AEI.
Table of Contents
Preface: Karl Brunner
First Lecture: A Review of the Issues
Second Lecture: The Monetary Mechanism: Markets for Assets
Third Lecture: Fiscal Policy, Prices and Wages, Unemployment and Related Issues
Fourth Lecture: Monetary Policy: Problems and Potential
Meticulously researched and textured with fascinating details, these essays "show" as well as "tell" where Russia has been in the past fifteen years and where it is going.
This book explores a problem that has been building quietly for years: the military has been expending without expanding or even replacing what has been spent.
