Abstract

From the publisher:: Expanding upon the literature of new institutional economics, the first part of this study stresses the significance of imperfections in information, bankruptcy and banks. The second part examines the policy implications of the new paradigm emphasizing loanable fund demand and supply, and demonstrates its relevance to our understanding of two recent historical episodes - the East Asian financial crisis and the 1991 U.S. recession and subsequent recovery and boom.

Citation

Stiglitz, Joseph, and Bruce Greenwald. Towards a New Paradigm in Monetary Economics. Cambridge, UK: Cambridge University Press, 2003.

Each author name for a Columbia Business School faculty member is linked to a faculty research page, which lists additional publications by that faculty member.

Each topic is linked to an index of publications on that topic.