piatra . institutepathwaysFinding the next step…
Follow banking, aggregate demand, inflation, financial instability and monetary policy through rival models.
Know the difference between a stock and a flow. The money, banking and inflation readings establish vocabulary; advanced monetary models later require calculus.
A balance-sheet account of a shock with two competing policy responses.
Start here if the background is new. Equivalent experience is enough.
Use calculus for advanced monetary models after learning the stock-and-flow vocabulary.
Steven Greenlaw, David Shapiro · Daniel MacDonald · reference
Money, bank balance sheets and inflation measures
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Open the readingSteven Greenlaw, David Shapiro · Daniel MacDonald · reference
Money, bank balance sheets and inflation measures
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Open the readingPrinciples of Economics 3e: money and banking. Distinguish deposits, loans and central-bank money in a simple balance-sheet example.
Principles of Economics 3e: inflation. Check what the price index measures and distinguish a level from a rate of change.
John Maynard Keynes · book · 1936
Selected demand, monetary-history and financial-instability arguments
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Open the readingMilton Friedman · Anna Schwartz · book · 1963
Selected demand, monetary-history and financial-instability arguments
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Open the readingHyman Minsky · book · 1986
Selected demand, monetary-history and financial-instability arguments
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Open the readingThe General Theory of Employment, Interest and Money. Trace one selected argument connecting expectations, spending and employment.
A Monetary History of the United States. Separate the recorded monetary sequence from the authors’ causal interpretation.
Stabilizing an Unstable Economy. Trace how financing commitments and changing expectations can amplify instability.
Steven Greenlaw, David Shapiro · Daniel MacDonald · reference
Interest rates and policy-transmission channels
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Open the readingOlivier Blanchard · book · 2021
Interest rates and policy-transmission channels
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Open the readingPrinciples of Economics 3e: monetary policy. Follow an interest-rate transmission channel and identify a condition that could interrupt it.
Macroeconomics. Select the model relevant to your policy channel and state its assumptions.
Liaquat Ahamed · book · 2009
One financial crisis and its historical evidence
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Open the readingCarmen Reinhart · Kenneth Rogoff · book · 2009
One financial crisis and its historical evidence
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Open the readingLords of Finance. Choose one episode and distinguish chronology, evidence and retrospective explanation.
This Time Is Different. Check the definition, coverage and comparability of the crisis evidence used.
Editorial perspectives based on selected works, rather than author-endorsed reading lists.
An editorial comparison of the route’s selected accounts and evidence.
A curated synthesis cannot be neutral or exhaustive. Follow the primary sources when an interpretation matters.
An editorial reconstruction using the selected work of John Maynard Keynes.
This is not an author-endorsed syllabus. The reconstruction highlights selected works and may omit other commitments.
An editorial reconstruction using the selected work of Milton Friedman.
This is not an author-endorsed syllabus. The reconstruction highlights selected works and may omit other commitments.
An editorial reconstruction using the selected work of Hyman Minsky.
This is not an author-endorsed syllabus. The reconstruction highlights selected works and may omit other commitments.
Background, different viewpoints, and further reading.
Trace one selected argument connecting expectations, spending and employment.
Selected demand, monetary-history and financial-instability arguments
Separate the recorded monetary sequence from the authors’ causal interpretation.
Selected demand, monetary-history and financial-instability arguments
Trace how financing commitments and changing expectations can amplify instability.
Selected demand, monetary-history and financial-instability arguments
Select the model relevant to your policy channel and state its assumptions.
Interest rates and policy-transmission channels
Annotate one argument’s variables and expectations rather than attempting the whole technical book.
A monetary model’s variables and expectation assumptions
Compare this account’s mechanism with the preceding reading; note where their predictions differ.
Selected chapters and argument
Choose one episode and distinguish chronology, evidence and retrospective explanation.
One financial crisis and its historical evidence
Check the definition, coverage and comparability of the crisis evidence used.
One financial crisis and its historical evidence
Reconstruct the main argument and identify the assumptions linking it to the route’s question.
Selected chapters and argument
Compare this account’s mechanism with the preceding reading; note where their predictions differ.
Selected chapters and argument
Trace one selected model’s mechanism and identify what evidence would test it.
A monetary model’s variables and expectation assumptions
Use this account to revise your initial explanation and identify an unresolved question.
Selected chapters and argument
Distinguish deposits, loans and central-bank money in a simple balance-sheet example.
Money, bank balance sheets and inflation measures
Follow an interest-rate transmission channel and identify a condition that could interrupt it.
Interest rates and policy-transmission channels
Check what the price index measures and distinguish a level from a rate of change.
Money, bank balance sheets and inflation measures
Work through the model, then identify a real-world institution or assumption the model leaves out.
Named section and worked examples
Work through the model, then identify a real-world institution or assumption the model leaves out.
Named section and worked examples
Work through the model, then identify a real-world institution or assumption the model leaves out.
Named section and worked examples
Work through the model, then identify a real-world institution or assumption the model leaves out.
Named section and worked examples
Work through the model, then identify a real-world institution or assumption the model leaves out.
Named section and worked examples
Separate an account of particular prices from an account of money, banking and inflation.