New Monetarist Economics: Methods

Stephen Williamson and Randall Wright

MPRA Paper from University Library of Munich, Germany

Abstract: This essay articulates the principles and practices of New Monetarism, our label for a recent body of work on money, banking, payments, and asset markets. We first discuss methodological issues distinguishing our approach from others: it has something in common with Old Monetarism, but there are also some important differences; it has little in common with Old or New Keynesianism. We describe the key principles of these schools and contrast them with our approach. To show how it works in practice, we build a benchmark New Monetarist model, and use it to address frontier issues concerning asset markets and banking.

Keywords: New Monetarism; Monetary economoics; financial intermediation; New Keynesian (search for similar items in EconPapers)
JEL-codes: E10 E4 E5 E6 G21 (search for similar items in EconPapers)
Date: 2010-03-17
New Economics Papers: this item is included in nep-ban, nep-cba, nep-dge, nep-hpe, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (56)

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Related works:
Journal Article: New monetarist economics: methods (2010)
Working Paper: New Monetarist Economics: methods (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:21486

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