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Money, which provides liquidity, is distinct from debt. The introduction of a bank that issues money in exchange for debt and pays out its profit as dividend to shareholders modifies the model of overlapping generations. Monetary policy can set, alternatively, the nominal rate of interest or the circulation of real balances. The set of equilibrium paths, their dynamic properties, as well as the scope and effectiveness of monetary policy are significantly altered: (1) there is a continuum of Pareto comparable steady state paths, indexed by the nominal rate of interest; (2) for a set level of real balances, the associated steady state may be stable or unstable, but cyclical uctuations do not arise; and, (3) though low rates of interest are associated with superior steady state allocations, they may account for unstable steady states or stable endogenous cycles.

This book provides a macro-level understanding of transportation as an industry, through the lens of all the stakeholders that make up the ecosystem. It aids understanding about the transportation ecosystem, its components, challenges, contribution to economic growth, and the interplay between the stakeholders that govern the system. The contents also examine the background and history of transportation, emphasizing the fundamental role and importance the industry plays in companies, society, and the environment in which transportation service is provided. The book also provides an overview of carrier operations, management, technology, and the strategic principles for the successful management of different modes of transportation. This book is of interest to those working in academia, industry, and policy in the areas of transportation. .

"Nigeria: Regional Politics and Dynamics" published on by Oxford University Press.