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2012•RePEc: Research Papers in EconomicsRequires access

Are There Important Differences between Classical and 21st-Centutry Monetary Theories? Did the Keynesian and Monetarist Revolutions Matter?

John H. Wood

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Abstract

It is not generally realized how little changed monetary theory and the theory and practice of monetary policy are from three-quarters of a century ago, when J.M. Keynes wrote the book that many believe marked a great divide.

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What this paper is about

It is not generally realized how little changed monetary theory and the theory and practice of monetary policy are from three-quarters of a century ago, when J.M. Keynes wrote the book that many believe marked a great divide.

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Available abstract

It is not generally realized how little changed monetary theory and the theory and practice of monetary policy are from three-quarters of a century ago, when J.M. Keynes wrote the book that many believe marked a great divide.

Key concepts: Monetarism, Economics, Keynesian economics, Monetary theory, Monetary policy, New Keynesian economics, Quantity theory of money, Post-Keynesian economics

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Are There Important Differences between Classical and 21st-Centutry Monetary Theories? Did the Keynesian and Monetarist Revolutions Matter? — Research Paper | ScholarLens