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Hetzel, Robert L. - 2012

Implicitly, central banks reject the propositions of monetarism. They do not characterize themselves as creators of …

Persistent link: https://www.econbiz.de/10013096300

Some Not So Unpleasant Monetarist Arithmetic

Dotsey, Michael - 2012

This paper analyzes the quantitative significance of Sargent and Wallace's (1981) "Some Unpleasant Monetarist Arithmetic" in a model that is parameterized to correspond with U.S. data. The major result is that the monetarist arithmetic is not overly unpleasant and that the nominal side of the...

Persistent link: https://www.econbiz.de/10013102229

On Nonneutral Relative Price Effects in Monetarist Thought : Some Austrian Misconceptions

Humphrey, Thomas M. - 2012

Milton Friedman's influential 1956 restatement of the quantity theory of money, monetarism has become increasingly prominent …The resurgence of monetarism has been one of the more Celebrated developments in postwar macroeconomic thought. Since … monetary mechanism as expounded by Friedman and his late-19th and 20th century American quantity theory predecessors; in …

Persistent link: https://www.econbiz.de/10013102980

Decizii Strategice Ale Politicii Monetare (Strategic Decisions of the Monetary Policy)

Dumitriu, Ramona - 2013

Conducerea politicii monetare poate fi privită ca o serie de decizii prin care sunt alese obiectivele şi instrumentele. Această lucrare studiază unele aspecte ale deciziilor strategice din politica monetară precum rolurile jucate de banca centrală şi de alte autorităţi publice,...

Persistent link: https://www.econbiz.de/10013073390

Was Milton Friedman's Hope for Monetarism Reasonable? Optimal Wage Indexation Re-Examined

Holmes, James M. - 2017

Gray and Benassy analysed the optimal wage indexation choice for representative agents and labor unions when monetary or/and real shocks are generated by a symmetric distribution. Here their analysis is extended to the more relevant choice for firm owners. In general, the probability of...

Persistent link: https://www.econbiz.de/10012951845

Unpleasant Monetarist Arithmetic : Macroprudential Edition

Libich, Jan - 2017

The 2008 crisis highlighted the linkages between the financial sector and the real economy, as well as between the corresponding stabilization policies: macroprudential and monetary (M&Ms). Our game-theoretic analysis focuses on the increasingly adopted separation setup, in which M&Ms are...

Persistent link: https://www.econbiz.de/10012954375

The Emergence of Hysteresis Monetarism

Stanley, Darrol J. - 2018

the emergence of Hysteresis Monetarism. The initial analyses completed to date indicate that breakdowns in key monetary …

Persistent link: https://www.econbiz.de/10012910840

Seven Fallacies Concerning Milton Friedman's 'The Role of Monetary Policy'

Nelson, Edward - 2019

This paper analyzes Milton Friedman's (1968) article “The Role of Monetary Policy,” via a discussion of seven fallacies concerning the article. These fallacies are: (1) “The Role of Monetary Policy” was Friedman's first public statement of the natural rate hypothesis. (2) The...

Persistent link: https://www.econbiz.de/10012900007

Is the Monetarist Arithmetic Unpleasant?

Uribe, Martín - 2016

The unpleasant monetarist arithmetic of Sargent and Wallace (1981) states that in a fiscally dominant regime tighter money now can cause higher inflation in the future. In spite of the qualifier ‘unpleasant,' this result is positive in nature, and, therefore, void of normative content. I...

Persistent link: https://www.econbiz.de/10012978518

Keynesian Inefficiency and Optimal Policy : A New Monetarist Approach

Williamson, Stephen D. - 2014

A simple model of monetary/labor search is constructed to study Keynesian indeterminacy and optimal policy. In the model, economic agents have trouble splitting the surplus from exchange appropriately, and we consider monetary and fiscal policies that correct this Keynesian inefficiency. A...

Persistent link: https://www.econbiz.de/10013056269