Business cycles and equilibrium
By: Fischer Black.
Edition: Updated ed.
Publisher: John Wiley
Published: 2010
Place of publication: Hoboken, N.J
Language: eng
Number of pages: 197
ISBN-13: 9780470499177
Subjects: Business cycles; Equilibrium (Economics)
Description: With the newfound popularity of quantitative finance and risk management, the work of award-winning economist Fischer Black (who died of cancer in 1995) has garnered much attention. This book--with its theory that economic and financial markets are in a continual equilibrium--is one of his books that still rings true today, given the current economic crisis. This Updated Edition clearly presents Black's classic theory on business cycles and the concept of equilibrium, and contains a new introduction by the person who knows Black best: Perry Mehrling. Mehrling goes inside Black's life to uncover what was occurring during the time Black wrote Business Cycles and Equilibrium, while also shedding light on what Black would make of today's financial and economic meltdown and how he would best advise to move forward.--From publisher description.
Notes: Includes bibliographical references and index.
Table of contents: title: Banking and interest rates in a world without money : the effects of uncontrolled banking; title: Active and passive monetary policy in a neoclassical model; title: Rational economic behavior and the balance of payments; title: Uniqueness of the price level in monetary growth models with rational expectations; title: Purchasing power parity in an equilibrium model; title: Ups and downs in human capital and business; title: How passive monetary policy might work; title: What a non-monetarist thinks; title: Global monetarism in a world of national currencies; title: The ABCs of business cycles; title: A gold standard with double feedback and near zero reserves; title: The trouble with econometric models; title: General equilibrium and business cycles; title: Noise.