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Monetary Theory as a Basis for Monetary Policy

Опубликовано на портале: 29-01-2003
Hampshire: Palgrave Macmillan, 2001
Since the inflationary 1970s, theoretical work on monetary policy has concentrated almost exclusively on price-level stabilization and the avoidance of nominal shocks. In the aftermath of the collapse of financial bubbles in various parts of the world, the accomplishments and limitations of this dominant approach are debated in this volume edited by Axel Leijonhufvud, with contributions by a number of noted monetary economists, including Nobel Laureate Robert Lucas.

Axel Leijonhufvud is Professor Emeritus of the University of California at Los Angeles and is Professor of Monetary Economics at the University of Trento, Italy.
The International Economic Association
Acknowledgements
Notes on the Contributors
List of Abbreviations and Acronyms
Introduction; A.Leijonhufvud
Monetary Theory and Central Banking; A.Leijonhufvud
Comment; J.Mulitz

PART I: INTERTEMPORAL EQUILIBRIUM
Intertemporal General Equilibrium Theory and Monetary Policy; J.Drиze & H.Polemarchakis
Comment; J.M.Grandmont
Comment; J.Urrutia
The Fiscalist Approach to Monetary Theory; R.Marimon
Comment; S.Honkapohja
Inflation and Welfare; R.Lucas
Comment; D.Laidler Comment; H.W.Sinn

PART II: MONETARY AND FINANCIAL INSTABILITY
Business Cycles in a Financially Deregulated America; A.Wojnilower
Comment; L.Jonung
Learning About Trends: Spending and Credit Fluctuations in Open Economies; D.Heymann, M.Kaufman & P.Sanguinetti
Comment; P.L.Sacco
Comment; J.L.Gaffard
Monetary Policy and the Macroeconomics of 'Soft' Growth; J.P.Fitoussi
Comment; E.Streissler

Index of Names
Subject Index


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