haku: @indexterm Monetary economics / yhteensä: 201
viite: 39 / 201
| Tekijä: | Tavlas, G. S. |
| Otsikko: | Chicago, Harvard, and the doctrinal foundations of monetary economics |
| Lehti: | Journal of Political Economy
1997 : FEB, VOL. 105:1, p. 153-177 |
| Asiasana: | MONETARY ECONOMICS HISTORY |
| Kieli: | eng |
| Tiivistelmä: | This article examines the relationship between Milton Friedman's monetary politics and the views of Chicago and and non-Chicago quantity theorists during the years 1930-36. Chicago economists advanced the efficacy of monetary politics as the means of escaping from the Great Depression. That kind of policy was implemented by the use of budget deficits to generate monetary expansion. Chicago economists used the quantity theory of money to provide a theoretical rationale for budget deficits. So they were less susceptible to the Keynesian revolution. Harvard was not an important center for monetary research in the early 1930s. |
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