Abstract

In this volume Donald Walker brings together Robert Clower's influential essays on monetary economics, grouping them so as to bring out clearly the development of Clower's thought. Among Clower's contributions are an important reinterpretation of Keynes' work, a fresh treatment of the nature of money, the formulation of a microeconomic approach to the understanding of monetary behaviour, and distinct insights on money supply-and-demand and inflation. The essays constitute a well-rounded treatment of the major problems in monetary economics, and the volume as a whole demonstrates how the study of monetary economics may extend knowledge of short-run economic fluctuations and prove useful in developing policy options to ameliorate them.