Money, Banking, and the Business Cycle Volume I: Integrating Theory and Practice
, by Simpson, Brian P.- ISBN: 9781137335319 | 1137335319
- Cover: Hardcover
- Copyright: 4/16/2014
The business cycle is a complex phenomenon. On the surface, it involves a multitude of mechanisms, such as oscillations in interest rates, prices, wages, unemployment, output, and spending. But a deeper understanding requires a unifying theory to make these various parts whole. Money, Banking, and the Business Cycle provides a comprehensive framework for analyzing these mechanisms, and offers a robust prescription for reducing financial instability over the long-term. Volume I bridges economic theory with empirical evidence. Simpson reveals the origins of the business cycle through the impact of government regulation on the supply of money and credit.