Although New Deal interventions (and other explanations such as Robert Higgs's regime uncertainty) can be used to explain the length of the depression, the monetarist
explanation that rests on the contraction of money supply is needed to clarify why the economy fell so much.
King and Alex Wolman is the first of the modern New Keynesian models that incorporated both monetarist
and Keynesian ideas in a dynamic general equilibrium model with interest rate rules.
I develop the argument as follows: In Section II I briefly summarize NGDP targeting, the Market Monetarist
School, and its similarities to free banking and monetary disequilibrium.
But in Williamson and Wright (forthcoming) we offer as food for thought two New Monetarist
models that speak to the issue.
The author also explores whether the basic monetarist
propositions still hold true for a sample of fifteen countries.
So it was that Bank Governors, first Gerald Bouey and then John Crow, set about using monetarist
economic theory to tame Canada's inflation.
The SOMC is a group of monetarist
economists, who link inflation with expansion in the money supply.
There has been debate about this, but certainly Friedman is a monetarist
if anyone is.
Friedman's empirical findings are broadly consistent with both Monetarist
and Austrian views.
Here, both the monetarist
model and the Keynesian inflationary gap model are in agreement.
Kindleberger "Was Adam Smith a Monetarist
or Massachusetts Institute a Keynesian?
Finally, the course explores the goals and implications of fiscal and monetary policy with the help of main models of macroeconomic theory Keynesian, classical, and monetarist
If that were to happen, the conventional monetarist
response would be to cut interest rates.
Is it possible to live in a consumerist, monetarist
society as a reflective and responsible Christian with a vision for the totality of our economic situation?
I WAS never a fan of Margaret Thatcher or her damaging monetarist
policies, and Mark Holt''s letter ( She was no saint, ECHO April 26) had some valid points, but his assertion that she 'took away political prisoners' ' status (sic) and watched as Bobby Sands and the hunger strikers died fighting for it back' ' was at best ill-informed and at worst downright insulting.