Angeriz, A.; Arestis, Philip; McCombie, John; Mosler, Warren - In: Challenge 51 (2008) 2, pp. 69-84
Is the current consensus about monetary policy valid? As the authors see it, current monetary policy is designed to use interest rates as a control on longterm inflation. The authors assess the concept, summarize the empirical data, and find that the theory may not work. Supply shocks may cause...