Introduction

John McCombie and Carlos Rodríguez González

Chapter 1 in Issues in Finance and Monetary Policy, 2007, pp 1-7 from Palgrave Macmillan

Abstract: Abstract Money and financial issues have been studied for several centuries and have played a central role in general discussions about the functioning of economies. Nevertheless, there exists among economists, and will probably continue to exist, a fierce debate over monetary relationships. Monetarists placed money as a central determinant of economic activity, at least in the short run, while Keynesians had already rejected the classical neutrality axiom of money in both the short and long run. Today, new Keynesians reject the classical dichotomy that has been revived in, for example, real business cycle theory.

Keywords: Monetary Policy; Central Bank; Hedge Fund; European Central Bank; Inflation Expectation (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-80149-3_1

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DOI: 10.1057/9780230801493_1

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