MONETARY POLICY AND THE VALUE OF MONEY

Author(s): LILIANA CIMBROLA
Journal: Analysis and Metaphysics
ISSN: 1584-0778
Year: 2005
Volume: 4
Issue: 2
Full text: http://www.denbridgepress.com/am_abstract.php?a=51
Publisher: Denbridge Press - New York
Abstract: Garrison demonstrates the relevance of capital-based macro- economics beyond its application to the business cycle by discussing a variety of fiscal and regulatory issues. The marginal-productivity theory of factor pricing implies that the price of any factor is determined by the marginal value product of that factor. Money must be analyzed in a general theory of value; the value of money is determined in all markets where money is exchanged.