| Monetary Theory and Policy | 
 enlarge | Author: Ce Walsh
Publisher: MIT Press
Category: Book
List Price: £38.95
Buy New: £33.14
You Save: £5.81 (15%)
New (29) Used (10) from £29.99
Avg. Customer Rating:  2 reviews
Sales Rank: 65585
Media: Hardcover
Edition: 2nd Revised edition
Number Of Items: 1
Pages: 632
Shipping Weight (lbs): 2.5
Dimensions (in): 9.1 x 7.1 x 1.4
ISBN: 0262232316
Dewey Decimal Number: 332.46
EAN: 9780262232319
ASIN: 0262232316
Publication Date: May 6, 2003
Availability: Usually dispatched within 1-2 business days
Condition: [Ships UK only] Brand NEW, from UK warehouse. (Heavy / Expensive items are shipped by courier and require a signature) Delivery typically 3-8 days.
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| Customer Reviews:
 If this book were a car... August 20, 2007
3 out of 3 found this review helpful
If this book were a car, its selling would long have been forbidden! The "typos and corrections" offered by Carl E. Walsh's homepage have by now reached 10 pages. Chapter 6.5 "A Basic Open-Economy Model" has this way been completely revised by the maitre. So, in case you are determined to read this book, start with a download of those typos and corrections! The publisher does not give the slightest hint of this problem within the book (Maybe, because the standard "errata-note" would have become an "errata-booklet"). This is really annoying, since you may lose a lot of time by trying to understand mathematical derivations, which are simply wrong. Weak consolation: the "typos and corrections" of Michael Woodford's supposed to be classic "Interest and Prices" sum up by now of 8 pages (Or should we say 38 pages, since "certain equations" of Woodford's chapter 5 are corrected in a separate paper? Unfortunately, I'm not kidding). However, Walsh's book does also suffer from contents-related problems: Throughout the book he derives all results based on the social planner solution of his models. He never even discusses the problem of this approach in the presence of the "wedge of inefficiency" that the usage of money can introduce in such models (Lucas, 1987, Models of Business Cycles). So after having yourself worked through Walsh's book and his typos and corrections, you cannot be sure that the conclusions and policy recommendations he draws will also hold for the market solution of his models.
 A good summary of recent developments in monetary theory September 20, 2000
3 out of 6 found this review helpful
Walsh's book provides an accurate and complete summary of recent developments in the field of monetary theory. He also tries to assess the empirical evidence in support of, or against, the theories presented. It makes a good reading even for people acquainted with the subject but in need of a brush-up. The only weakness of the book concerns the operational aspects of monetary policy, which are mostly disregarded.
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