Money, Trust, and Banking: An Integrated Approach to Monetary Theory and Banking Theory

by G. Schaefer

Overview

This book shows how money and banks emerge to efficiently address problems of trust between economic agents. The analysis offers an innovative approach for integrating monetary theory, banking theory, and standard economic theory in a game theoretical framework. The unified perspective of the book contributes to a better understanding of the microeconomic foundations of monetary policy and banking. It emphasizes the importance of trust supported by credible institutional structures in the financial industry.

Product Details

ISBN-13:	9781349547814
Publisher:	Palgrave Macmillan UK
Publication date:	10/26/2005
Edition description:	1st ed. 2005
Pages:	166
Product dimensions:	5.51(w) x 8.50(h) x 0.01(d)

About the Author

GUIDO K. SCHAEFER is Assistant Professor in the Economics Department at the Vienna University of Economics and Business Administration, Austria, a position he has held since 1995. He teaches money and banking in the Management Science and the Economics Programme. He has published articles in journals and edited volumes and is the author of Regulation and Stability in the Banking Systems: The Case of Deposit Insurance.

Table of Contents

Introduction The Problem of Trust in Monetary Theory Money, Trust, and Contemporary Banking Theory An Analytical Framework for an Integrated Formal Theory of Money, Trust, and Banking A Basic Model of Exchange Barter with Intermediate Exchange of Goods Privately Issued I.O.U.s as a Medium of Exchange Money as Central Bank Debt The Transactions Bank: On the Missing Link Between Monetary Theory and Banking Theory Efficient Transactions and Synergies in Banking An Integrated Perspective on Money, Trust, and Banking