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dc.contributor.authorFontana, Giuseppeen_US
dc.date.accessioned2010-05-14T11:09:55Z-
dc.date.available2010-05-14T11:09:55Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/31680-
dc.description.abstractOne of the greatest achievements of the modern New Consensus” view in macroeconomics is the assertion of a nonquantity theoretic approach to monetary policy. Leading theorists and practitioners of this view have indeed rejected the quantity theory of money, and defended a return to the old Wicksellian idea of eliminating high levels of inflation by adjusting nominal interest rates to changes in the price level. This paper evaluates these recent developments in the theory and practice of monetary policy in terms of two basic questions: 1) What is the monetary policy instrument controlled by the central bank? and 2) Which macroeconomic variables are affected in the short and long run by monetary policy?en_US
dc.language.isoengen_US
dc.publisherThe Levy Economics Inst. of Bard College Annandale-on-Hudson, NYen_US
dc.relation.ispartofseriesWorking papers // The Levy Economics Institute 476en_US
dc.subject.jelE5en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordWicksellen_US
dc.subject.keywordmonetary policyen_US
dc.subject.keywordNew Consensusen_US
dc.subject.keywordendogenous Moneyen_US
dc.titleThe new consensus view of monetary policy: a new Wicksellian connection?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn570219698en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Working Papers, Levy Economics Institute of Bard College

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