An overview of developments in monetary theory. The author surveys many issues including crowding out, the new classical macroeconomics, the breakdown of the stable money demand function, buffer stocks and currency substitution.

In the aftermath of the debates between Keynesians and monetarists, this book provides an overview of the most recent developments in monetary theory. Professor Visser provides an up-to-date survey including major issues such as crowding out, the new classical macroeconomics, the breakdown of the stable money demand function, buffer stocks and currency substitution. The book covers both issues such as problems of monetary union, the proposed denationalization of money as advocated by Hayek as well as theoretical issues such as the search for the microfoundations of monetary theory. The book provides a survey of developments at the frontiers of monetary theory.

An extremely succinct history of the subject
crowding out and the government budget
rational expectations and new classical macroeconomics
microfoundations of money and finance
the monetary order
the demand for money
exchange rate theories I
exchange rate theories II
conclusion.