ECON 3310 MONEY & CREDIT Cornell

3/29 Supply function theories o Neoclassical and new classical believe inelastic o Neoclassical-long run o New classical, Keynesian, hicks, monetarist-short run. o Keynesian supply function From perfectly elastic to perfectly inelastic. Due to brea

Feb 8 1) Seniorage- profit from the business of minting money a) State monopoly: exchange metal for coins 2) States were inclined to cheat/adulterate the coin a) Expanded currency and prices went up inflation 3) Monarchs a) Got fiscal surplus through

1997 1. identify a. decreased prices will increase consumption and spending which will drive aggregate demand up. This will eventually cause prices to increase again and will stabilize consumption. (3/29) b. capital outflow raises price of foreign ex

3/29 Supply function theories o Neoclassical and new classical believe inelastic o Neoclassical-long run o New classical, Keynesian, hicks, monetarist-short run. o Keynesian supply function From perfectly elastic to perfectly inelastic. Due to brea

ECON 331: MONEY AND CREDIT PRELIMINARY EXAM 10/03/2007 Instructor: Karel Mertens Exam Time: 50 min Write your name on your answer sheets Make sure your exam has three pages of questions The exam consists of two parts: 10 Multiple Choice Questions (4

CONTACT INFO COURSE MATERIALS COURSE CH 3 WHAT IS MONEY ECON 331 MONEY AND CREDIT: INTRODUCTION Karel Mertens CORNELL UNIVERSITY CONTACT INFO COURSE MATERIALS COURSE CH 3 WHAT IS MONEY CONTACT INFO Karel Mertens Oce No. 454, Uris Hall Oce H

The Risk Structure of Interest Rates The Term Structure of Interest Rates Last Lecture: The Liquidity Preference Framework: Alternative model for understanding interest rate movements. Supply and demand in the market for money. Eects of an increase

ECON 331: MONEY AND CREDIT PRELIMINARY EXAM 11/07/2008 Instructor: Karel Mertens Exam Time: 50 min Write your name on your answer sheets Make sure your exam has three pages of questions The exam consists of two parts: 10 Multiple Choice Questions (4

Quantity Theory Liquidity Prefence Friedman Friedman vs. Keynes Evidence Monetary theory We have studied money supply, how it is determined and the role of the central bank. Now we turn to the eect of money on the economy: monetary theory and t