Modern Financial Macroeconomics - Panics, Crashes,And Crises

Knoop (economics, Cornell College) goes beyond the technical in this accessible account of how financial markets and institutions affect modern macroeconomics. He introduces the basics of financial markets and financial institutions and gives a brief history of financial development, then describes macroeconomic theory and the role of finance in terms of business cycles and macroeconomic theories of finance, theories (including Keynsian, monetarist and neoclassical), new institutional theories of financial in terms of risks and the cost of credit, new models of credit rationing, the role of financial markets in monetary and stabilization policy, banking crises and asset bubbles, capital flight and the causes and prevention of international financial crises, and what we have learned and what we still need to learn about financial macroeconomics. Annotation c2008 Book News, Inc., Portland, OR (booknews.com)

Todd A. Knoop is Associate Professor of Economics and Chair of the Economics and Business department at Cornell College. He is author of Recessions and Depressions: Understanding Business Cycles (2004). He earned his PhD. in Economics from Purdue University.