A Note on Post-Modern Monetary Policy

Thierry Warin

Middlebury College Working Paper Series from Middlebury College, Department of Economics

Abstract: This paper surveys the roots of the modern literature on monetary policy, and illustrates the convergence that occurs between open-economy approaches and the micro foundations of monetary policy. From the Banking School versus Currency School debate to the “credibility versus flexibility” refinement, monetary policy has a long history of scholarly works. Although it may be hard to imagine that there is still room for innovations, the current developments of the literature on open-economy monetary policy seem to spawn a new and essential branch.

Keywords: : monetary policy; rules versus discretion; credibility versus flexibility; Banking School; Currency School (search for similar items in EconPapers)
JEL-codes: E4 E5 E6 F0 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2006-12
New Economics Papers: this item is included in nep-cba, nep-his, nep-hpe, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:mdl:mdlpap:0617

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