In monetary macroeconomics it is important to distinguish between the real rate of interest on money and the profitability of business enterprise if the former is a monetary phenomenon as claimed by keynes the latter is in the nature of a surplus over and above the costs of production including financing costs. Monetary economics and monetary policy currently available it covers the microeconomic macroeconomic and monetary policy components of the field the author also integrates the presentation of monetary theory with its heritage stylized facts empirical formulations and econometric tests major features of the new edition include
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