Getting it wrong : how faulty monetary statistics undermine the Fed, the financial system, and the economy / William A. Barnett

Von:

Barnett, William A [aut]

Resource type: Ressourcentyp: Buch (Online)Buch (Online)Sprache: Englisch Reihen: The MIT Press SerVerlag: Cambridge, Mass. [u.a.] : MIT Press, c2012Auflage: Online-AusgBeschreibung: Online-Ressource (1 online resource (xxxi, 322 p.)) : illISBN:

9781283420785
1283420783
9780262301343
9780262016919

Schlagwörter: Andere physische Formen: 9780262016919 | 9780262516884. | 1283416174 | Erscheint auch als: Getting it wrong. Druck-Ausgabe Cambridge, Mass. [u.a.] : MIT Press, 2012. XXXI, 322 S.DDC-Klassifikation:

332.401/5195 23
332.401
332.4015195

RVK: RVK: QK 010 | QK 200LOC-Klassifikation:

HB139
HB139 -- .B3755 2012eb

Online-Ressourcen:

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Inhalte:

Contents -- Foreword: Macroeconomics as a Science -- Preface -- Acknowledgments -- I. The Facts without the Math -- 1. Introduction -- 1.1 Whose Greed? -- 1.2 The Great Moderation -- 1.3 The Maestro -- 1.4 Paradoxes -- 1.5 Conclusion -- 2. Monetary Aggregation Theory -- 2.1 Adding Apples and Oranges -- 2.2 Dual Price Aggregation -- 2.3 Financial Aggregation -- 2.4 The Commerce Department and the Department of Labor -- 2.5 The Major Academic Players -- 2.6 Banks throughout the World -- 2.7 Mechanism Design: Why Is the Fed Getting It Wrong? -- 2.8 Conclusion -- 3. The History

3.1 The 1960s and 1970s -- 3.2 The Monetarist Experiment: October 1979 to September 1982 -- 3.3 The End of the Monetarist Experiment: 1983 to 1984 -- 3.4 The Rise of Risk-Adjustment Concerns: 1984 to 1993 -- 3.5 The Y2K Computer Bug: 1999 to 2000 -- 3.6 Conclusion -- 4. Current Policy Problems -- 4.1 European ECB Data -- 4.2 The Most Recent Data: Would You Believe This? -- 4.3 The Current Crisis -- 4.4 Conclusion -- 5. Summary and Conclusion -- II. Mathematical Appendixes -- A. Monetary Aggregation Theory under Perfect Certainty -- A.1 Introduction -- A.2 Consumer Demand for Monetary Assets

A.3 Supply of Monetary Assets by Financial Intermediaries -- A.4 Demand for Monetary Assets by Manufacturing Firms -- A.5 Aggregation Theory under Homogeneity -- A.6 Index- Number Theory under Homogeneity -- A.7 Aggregation Theory without Homotheticity -- A.8 Index- Number Theory under Nonhomogeneity -- A.9 Aggregation over Consumers and Firms -- A.10 Technical Change -- A.11 Value Added -- A.12 Macroeconomic and General Equilibrium Theory -- A.13 Aggregation Error from Simple- Sum Aggregation -- A.14 Conclusion -- B. Discounted Capital Stock of Money with Risk Neutrality -- B.1 Introduction

B.2 Economic Stock of Money (ESM) under Perfect Foresight -- B.3 Extension to Risk -- B.4 CE and Simple Sum as Special Cases of the ESM -- B.5 Measurement of the Economic Stock of Money -- C. Multilateral Aggregation within a Multicountry Economic Union -- C.1 Introduction -- C.2 Definition of Variables -- C.3 Aggregation within Countries -- C.4 Aggregation over Countries -- C.5 Special Cases -- C.6 Interest Rate Aggregation -- C.7 Divisia Second Moments -- C.8 Conclusion -- D. Extension to Risk Aversion -- D.1 Introduction -- D.2 Consumer Demand for Monetary Assets

D.3 The Perfect- Certainty Case -- D.4 The New Generalized Divisia Index -- D.5 The CCAPM Special Case -- D.6 The Magnitude of the Adjustment -- D.7 Intertemporal Nonseparability -- D.8 Consumer's Nonseparable Optimization Problem -- D.9 Extended Risk- Adjusted User Cost of Monetary Assets -- D.10 Conclusion -- E. The Middle Ground: Understanding Divisia Aggregation -- E.1 Introduction -- E.2 The Divisia Index -- E.3 The Weights -- E.4 Is It a Quantity or Price Index? -- E.5 Stocks versus Flows -- E.6 Conclusion -- References -- Index

Zusammenfassung: A leading economist contends that the recent financial crisis was caused not by the failure of mainstream economics but by corrupted monetary data constructed without reference to economicsZusammenfassung: Includes bibliographical references and indexPPN: PPN: 809516845Package identifier: Produktsigel: ZDB-26-MYL | ZDB-30-PQE | ZDB-30-PQE | ZDB-30-PAD | ZDB-30-PBE

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