Monetary Theory and Central Banking

Axel Leijonhufvud

Chapter 1 in Monetary Theory as a Basis for Monetary Policy, 2001, pp 1-30 from Palgrave Macmillan

Abstract: Abstract In the 1970s, in the waning days of the so-called Keynesian consensus, macropolicy was still stabilization policy. It was believed that the private sector was unstable, but that the discretionary policies of a benevolent, competent and consistent government could maintain high employment and reasonable price stability.

Keywords: Interest Rate; Monetary Policy; Central Banking; Real Interest Rate; Natural Rate (search for similar items in EconPapers)
Date: 2001
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Working Paper: Monetary Theory and Central Baking (1998)
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DOI: 10.1007/978-1-4039-3961-6_1

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