Paperback
Banks and Finance in Modern Macroeconomics
A Historical Perspective
9781800375222 Edward Elgar Publishing
The world financial crisis of 2007–2008 dramatically showed the importance of credit and financial relations for the efficient working of the economy. For a long time mainstream macroeconomics ignored these aspects and concentrated only on the real sector or just took into account the most elementary picture of the financial side of the economy. This book aims at explaining why this happened through an historical excursion of 20th century mainstream macroeconomic theory.
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Critical Acclaim
Contents
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In this significant new book, Bruna Ingrao and Claudio Sardoni emphasize the crucial importance of considering credit/debt relations and financial markets for a comprehensive understanding of the world in which we live. The book offers both a thorough historical and theoretical reconstruction of how 20th century macroeconomics got (or did not get) to grips with the interactions between banks and financial markets, and the ‘real’ economy.
这本书分为两个不同的主题部分，以暴露于1930年代大萧条之前和之后的银行和金融态度。第一部分探讨了从20世纪之交到1930年代后期的时期，当时许多重要的经济学家在对市场经济工作的解释中非常关注银行和信贷关系。第二部分讨论了战后时期，直到现代，当时银行和金融市场不再是主流宏观经济学的主要关注点。2007 - 8年的危机引起了对信贷关系的重新兴趣，但是从过去继承的许多问题仍然保持开放。作者尤其强调了不安的含义，即使不是不可能的话，努力是在一般平衡理论框架内设置宏观经济学的共存，试图开发对实际经济的货币和财务特征的分析。
宏观经济学家将在这本及时的书中受益于该学科的历史演变，并指出主要因素在很大程度上阻止了对信贷，金融和宏观经济相互关系的令人满意的分析的发展。参与当前经济政策辩论的人也将从本书中提供的教训中受益。
这本书分为两个不同的主题部分，以暴露于1930年代大萧条之前和之后的银行和金融态度。第一部分探讨了从20世纪之交到1930年代后期的时期，当时许多重要的经济学家在对市场经济工作的解释中非常关注银行和信贷关系。第二部分讨论了战后时期，直到现代，当时银行和金融市场不再是主流宏观经济学的主要关注点。2007 - 8年的危机引起了对信贷关系的重新兴趣，但是从过去继承的许多问题仍然保持开放。作者尤其强调了不安的含义，即使不是不可能的话，努力是在一般平衡理论框架内设置宏观经济学的共存，试图开发对实际经济的货币和财务特征的分析。
宏观经济学家将在这本及时的书中受益于该学科的历史演变，并指出主要因素在很大程度上阻止了对信贷，金融和宏观经济相互关系的令人满意的分析的发展。参与当前经济政策辩论的人也将从本书中提供的教训中受益。
Critical Acclaim
‘I hail the book by Ingrao and Sardoni as an important and extremely brave cultural operation, since it represents not only a significant contribution to the history of macroeconomics but also an appreciable attempt to open fruitful discussion with contemporary macroeconomists on an issue that must be seen as highly relevant by both mainstream and heterodox economists.’
– Eleonora Sanfilippo, History of Economic Ideas
‘这是一本非常可读性的书，显然努力和激情已经消失了。对于希望概述宏观经济框架如何（不）融入金融或银行的学生，这将是必不可少的参考。’
- 克里斯托弗·哈特威尔（Christopher），对激进政治经济学的评论
‘Banks and Finance in Modern Macroeconomics is a valuable study of how macroeconomics, by losing touch with its past traditions, came to be ill-prepared for the Global Financial Crisis.’
– Robert W. Dimand, Cahiers d’économie politique
‘在现代经济中，金融市场非常重要。然而，经济学家大多宁愿从高度简化的角度来兑现金钱，从而使金融的复杂性转移到一方面。尽管如此，经济学家不时试图掌握荨麻。Ingrao和Sardoni提供了高度可读性的历史记载，以将银行和资金融入宏观经济理论的努力，这既阐明了为什么问题是一个困难的问题，又阐明了为什么它很重要。”
– Kevin D. Hoover, Duke University, US
‘Over a decade since the 2008 financial crisis, this new book by Bruna Ingrao and Claudio Sardoni provides an in-depth historical investigation into how economists have (or have not) dealt with the relationship between economic performance and financial instability since the late 19th century. This is a much-needed contribution to the history of monetary macroeconomics, with solid analytical foundations.’
– Mauro Boianovsky, Universidad de Brasilia, Brazil
‘By historically analysing the ways in which macroeconomic theories have conceptualized the role of banks and financial markets, this book solves the puzzle of why mainstream macroeconomics puts the financial system in the background even though it has expanded enormously in its complex interaction with the real side of the economy.’
- 马里奥·阿曼多拉（Mario Amendola），意大利罗马大学
– Eleonora Sanfilippo, History of Economic Ideas
‘这是一本非常可读性的书，显然努力和激情已经消失了。对于希望概述宏观经济框架如何（不）融入金融或银行的学生，这将是必不可少的参考。’
- 克里斯托弗·哈特威尔（Christopher），对激进政治经济学的评论
‘Banks and Finance in Modern Macroeconomics is a valuable study of how macroeconomics, by losing touch with its past traditions, came to be ill-prepared for the Global Financial Crisis.’
– Robert W. Dimand, Cahiers d’économie politique
‘在现代经济中，金融市场非常重要。然而，经济学家大多宁愿从高度简化的角度来兑现金钱，从而使金融的复杂性转移到一方面。尽管如此，经济学家不时试图掌握荨麻。Ingrao和Sardoni提供了高度可读性的历史记载，以将银行和资金融入宏观经济理论的努力，这既阐明了为什么问题是一个困难的问题，又阐明了为什么它很重要。”
– Kevin D. Hoover, Duke University, US
‘Over a decade since the 2008 financial crisis, this new book by Bruna Ingrao and Claudio Sardoni provides an in-depth historical investigation into how economists have (or have not) dealt with the relationship between economic performance and financial instability since the late 19th century. This is a much-needed contribution to the history of monetary macroeconomics, with solid analytical foundations.’
– Mauro Boianovsky, Universidad de Brasilia, Brazil
‘By historically analysing the ways in which macroeconomic theories have conceptualized the role of banks and financial markets, this book solves the puzzle of why mainstream macroeconomics puts the financial system in the background even though it has expanded enormously in its complex interaction with the real side of the economy.’
- 马里奥·阿曼多拉（Mario Amendola），意大利罗马大学
Contents
内容:第一部分从1920年代早期postwar period 1. Introduction 2. Banks and the quantity theory: Wicksell and Fisher 3. Money and banking in the process of change: Schumpeter and Robertson 4. Banks, debt and deflation in the Great Depression 5. Keynes on banks in A Treatise, The General Theory and after 6. Further discussions and criticisms of Keynes’s General Theory PART II From the Neoclassical Synthesis to New Keynesian Economics 7. Finance in macroeconomics in the post-war years: The neoclassical synthesis 8. The Monetarist counter-revolution: from the ‘resuscitation’ to the disappearance of money 9. Credit and finance in today mainstream 10. Conclusions Index
