Reprinting the second edition (which included a new introduction explaining developments which had emerged since first publication) this book discusses explorations in the fundamental theory of a monetary economy, a theoretical critique of the aPhillips Curvea approach to the theory of inflation and the theory of the term structure of interest rates in terms of the theory of forward markets pioneered by David Meiselman.Monetary policy hasa direct and observable influence on interest rates andcredit conditions, and through changes in these ... itis virtually impossibleto establish that monetary policy has a reliable, speedy, and quantitatively significant influenceanbsp;...

Title | : | Essays in Monetary Economics (Collected Works of Harry Johnson) |

Author | : | Harry G. Johnson |

Publisher | : | Routledge - 2013-07-18 |

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