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White, Lawrence H.

The theory of monetary institutions / Lawrence H. White. - Malden, Mass. : Blackwell, 1999. - xii, 269 p. : ill. ; 24 cm.

Includes bibliographical references (p. [249]-259) and index.

The Evolution of Market Monetary Institutions -- Commodity Money -- Money Issue by Unrestricted Banks -- The Evolution and Rationales of Central Banking -- Should Government Play a Role in Money? -- Should Government Play a Role in Banking? -- Seigniorage -- Central Bank as Bureaucracy -- Political Business Cycle Hypotheses -- Discretion and Dynamic Inconsistency -- Monetary Rules -- Competitive Supply of Fiat-type Money -- Cashless Competitive Payments and Legal Restrictions.

The Theory of Monetary Institutions analyzes the often overlooked - but fundamental - questions about monetary policy regimes: How and why have monetary institutions - central banks, clearinghouses, commercial banks, and money itself - evolved into their present forms? What are the leading arguments for and against government involvement in money and banking? What models do we have for explaining how monetary authorities choose to behave in a discretionary fiat money regime, and how well do they fit? What alternatives to the current regime are available, and how would they work?

ISBN: 1557862362(hardbound : alk. paper) 0631212140 (pbk. : alk. paper)

LCCN: 98046425

Subjects--Topical Terms:
Free banking.
Monetary policy.

LC Class. No.: HG1811 / .W47 1999

Dewey Class. No.: 332.1/01