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Finance Constraints and the Theory of Money

Editor

Listed:
  • Kohn, Meir

Author

Listed:
  • Tsiang, S. C.

Abstract

Finance Constraints and the Theory of Money: Selected Papers gathers together the work of S. C. Tsiang, one of the most cogent critics of the Keynesian stock approach to money in all its forms and one of the foremost champions of the flow approach. Tsiang's papers focus on finance constraints and the theory of money, tackling topics such as the role of money in trade-balance stability and the monetary theoretic foundation of the modern monetary approach to the balance of payments, as well as the diffusion of reserves and the money supply multiplier. Comprised of 17 chapters, this volume begins by providing a background to the development of Tsiang's thinking on monetary theory and why he objected to the Keynesian stock equilibrium approach to money. The reader is then introduced to speculation and income stability; misconceptions in monetary theory and their influences on financial and banking practices; and liquidity preference in general equilibrium analysis. Subsequent chapters deal with the optimum supply of money; the total inadequacy of "Keynesian" balance of payments theory; and the rationale of the mean-standard deviation analysis, skewness preference, and the demand for money. This book will be a useful resource for practitioners interested in economic theory, econometrics, and mathematical economics.

Suggested Citation

  • Tsiang, S. C., 1989. "Finance Constraints and the Theory of Money," Elsevier Monographs, Elsevier, edition 1, number 9780127017211 edited by Kohn, Meir.
  • Handle: RePEc:eee:monogr:9780127017211
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    Cited by:

    1. Shinji MIURA, 2016. "Graphic Explanation for Welfare Economic Foundation of Hoarding Loss," Journal of Economics Bibliography, KSP Journals, vol. 3(2), pages 265-289, June.
    2. James Heckman & Neil Hohmann & Jeffrey Smith & Michael Khoo, 2000. "Substitution and Dropout Bias in Social Experiments: A Study of an Influential Social Experiment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(2), pages 651-694.
    3. Icefield, William, 2020. "Liquidity preference in the Walrasian framework," MPRA Paper 98538, University Library of Munich, Germany.
    4. Michael Woodford, 1990. "Does Competition Between Currencies Lead to Price Level and Exchange Rate Stability?," NBER Working Papers 3441, National Bureau of Economic Research, Inc.
    5. Miura, Shinji, 2018. "Welfare economic foundation of hoarding loss by money circulation optimization," MPRA Paper 88443, University Library of Munich, Germany.
    6. Douglas A. Irwin, 2023. "Economic ideas and Taiwan's shift to export promotion in the 1950s," The World Economy, Wiley Blackwell, vol. 46(4), pages 969-990, April.

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