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Persistent link: https://www.econbiz.de/10000001584
on an old debate of whether a country should pursue a policy of Keynesianism or monetarism. Ergo, this essay discusses … arguments supporting both approaches, primarily through theoretical arguments of Keynesianism and monetarism. The authors …
Persistent link: https://www.econbiz.de/10012217815
Lucas (1972) was a paper that permanently changed the course of macroeconomics, even though its "money supply surprise" model lost its central place in the area within a decade because of empirical difficulties. However, Lucas's novel methodology, based on clearing markets and rational...
Persistent link: https://www.econbiz.de/10013272226
This paper is about the Department of Economics at the University of Chicago, between 1947 and 1982. The paper has the form of a conversation between the two authors and covers issues such as the existence of a "Chicago School," the Department's governance, the personalities of some well-known...
Persistent link: https://www.econbiz.de/10013342579
This paper is about the Department of Economics at the University of Chicago, between 1947 and 1982. The paper has the form of a conversation between the two authors and covers issues such as the existence of a "Chicago School," the Department's governance, the personalities of some well-known...
Persistent link: https://www.econbiz.de/10012609591
Whenever inflation rears its head, the call soon comes to raise interest rates. The rationale is simple. Higher interest rates put a damper on the supply of money. And this monetary clamp slows inflation. It’s so intuitive that it must be true. Or is it? As the Reverend Brooke observes, it...
Persistent link: https://www.econbiz.de/10013541619
If you’re just tuning in, I’ve spent the last few months debunking some common misconceptions about inflation: Is inflation a uniform increase in prices? No. Inflation is wildly differential. Is inflation driven by an ‘over-heated’ economy? No. Inflation tends to come with economic...
Persistent link: https://www.econbiz.de/10014280676
От редакции: среди всего набора макроэкономических тем, текущие показатели инфляции — одна из самых популярных и часто обсуждаемых. Аргументы сторонников...
Persistent link: https://www.econbiz.de/10014481019
This paper uses the occasion of the twenty-fifth anniversary of Basil Moore's book, Horizontalists and Verticalists, to reassess the theory of endogenous money. The paper distinguishes between horizontalists, verticalists, and structuralists. It argues Moore's horizontalist representation of...
Persistent link: https://www.econbiz.de/10010460546
Milton Friedman's influence on the economics profession has been enormous. In part, his success was due to political forces that have made neoliberalism the dominant global ideology, but Friedman also rode those forces and contributed to them. Friedman's professional triumph is testament to the...
Persistent link: https://www.econbiz.de/10010460559