Maslov, Alexander and Ivanchenko, Igor (2011): Money Field Theory: in Pursuit of Formalism. Published in: International Journal of Humanities and Social Science , Vol. 1, No. 8 (July 2011): pp. 19-29.
Download (202kB) | Preview
The article explores the possibility of interaction between financial and industrial sectors of an economy via such a new economic notion as a pervasive money field, which is used to pin down the elusive entropy of financial markets. The theory of a field originally comes from physics and we show the way it can be applied to economic reality. The implementation makes possible not only to reunite separate channels of monetary transmission mechanism into a single mechanism, but it also provides a new glimpse at the formalized mechanism of macroeconomic monetary relationship.
|Item Type:||MPRA Paper|
|Original Title:||Money Field Theory: in Pursuit of Formalism|
|English Title:||Money Field Theory: in Pursuit of Formalism|
|Keywords:||money field, money supply, monetary transmission mechanism|
|Subjects:||E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E51 - Money Supply ; Credit ; Money Multipliers
C - Mathematical and Quantitative Methods > C0 - General > C02 - Mathematical Methods
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E50 - General
E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E10 - General
|Depositing User:||Alexander Maslov|
|Date Deposited:||24 Nov 2012 17:49|
|Last Modified:||22 Jul 2016 15:17|
Berdyaev, N.A. The purport of history: experience of the philosophy of a human fate. M:Misl' 1990 - 173.
Bernanke, B.and Gertler, M. (1989) Agency costs, net worth and business fluctuations. American Economic Review 79, 14-31.
Bernanke, B.and Gertler, M.(1995) Inside the black box: the credit channel of monetary policy transmission. Working paper 5146 http://www.nber.org/papers/w5146.
Brunner, K.(1974) Monetary Management, Domestic Inflation, and Imported Inflation. In Aliber, Robert Z., (ed.), National Monetary Policies and the International Financial System, pp. 179-208. Chicago: University of Chicago Press.
Chepurin, M.N. and Kiseleva, E.A. (2002). Economics: textbook – 5th edition. Kirov: ACA (in Russian).
Cagan, P. D. (1969) The Non-Neutrality of Money In the Long Run: A Discussion of the Critical Assumptions and Some Evidence. Journal of Money, Credit and Banking, Vol. 1, No. 2 pp. 207-227.
Einstein, A. and Infeld, L. (1956) Physics Evolution. Moscow: Technical and Theoretical Literature (In Russian).
Fisher, I.(2006) The Purchasing Power of Money: Its Determination and Relation to Credit, Interest, and Crises. CA: Cosimo Classics
Friedman, M. The methodology of Positive Economics (1953) http://academic2.american.edu/~dfagel/Class%20Readings/Friedman/Methodology.pdf
Haytun, S.D. Human Phenomenon at the Universal Evolution. M:KomKniga 2005, p. 536
Ivanchenko, I.S. (2005) Application of Fisher’s equation for the Russian Money supply Dynamics Analysis. Statistics Issues 2, 66-70 (in Russian).
Ivanchenko, I.S. (2006) Research on the Russian Transmission Mechanism of Monetary Policy. Finance and Credit 14, 2-11 (in Russian).
Keynes, J. M.(1965) The General Theory of Employment, Interest, and Money. GA: Mariner Books
Kochin, N.E. (1961) Vector Calculus and Fundamentals of Calculus of Tensors. Moscow: The USSR Academy of Sciences (in Russian).
Krasavina, L.N. (2006) Reduction of Inflation Rate in Strategy of Innovative Development of Russia. Money and Credit 9, 12-20 (in Russian).
Krjuchkova, I.P. and Sapjan, M.U. (2003) Transmission Mechanism of Monetary Policy and Pecuraties of its Functioning in Russian Economy. Bankovskoe Delo 9, 6-17 (in Russian).
Laidler, D.(1981) Monetarism - An Interpretation and an Assessment. Economic Journal 91, 1-21.
Laidler, D.(1978) Money and Money Income - An Essay on the Transmission Mechanism. Journal of Monetary Economics 4, 151-191.
Maxwell, J. C.(1865) A Dynamical Theory of the Electromagnetic Field, Philosophical Transactions of the Royal Society of London 155, 459-512.
Meltzer, A.(1969) Money, Intermediation and Growth, Journal of Economic Literature 7, 27-56.
Mishkin, F. S. (2009) Theory of Money, Banking and Financial Markets, 9th edition.
Mishkin, F. S. (2001) The transmission mechanism and the role of asset prices in monetary policy. Working Paper 8617 http://www.nber.org/papers/w8617.
Naidysh, V.M. (2002) Modern Concepts of Natural Sciences. Moscow: Gardariki (in Nalivaisky V.U. and Ivanchenko I.S. (2004) Analysis of the Russian Money Supply Mechanism. Finance and Credit 20, 11-23 (in Russian).
Prokhorov, A.M. (1992) Physical Encyclopedia. Moscow: Big Russian Encyclopedia.
Poteev, M.I. (1999) Modern Concepts of Natural Science. Spb.: Piter (in Russian).
Sedov, E.A. Evolution and Information. M:Nauka 1976 - p. 232
Smith, V. (1994) Economics in the Laboratory. Journal of Economic Perspectives 8, 113-31.