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- Title
Time to put 'money' back into 'monetary policy'.
- Abstract
Monetarism is the school of thought that focuses on how shifts in the supply and demand for money drive two of the most important types of macroeconomic phenomena - nominal aggregates, such as inflation and nominal GDP growth, and business-cycle movements in real GDP and unemployment. Time to put "money" back into "monetary policy" Unfortunately, central banks, led by the US Fed, have pursued a strongly expansionary monetary policy from the outset and throughout the crisis, with the result that, rather than being too low, global inflation has taken off. MARKET MONETARISM Sumner has several bites throughout the book at explaining "market monetarism".
- Subjects
MONETARY policy; BUSINESS cycles; ECONOMIC history; ECONOMIC statistics; EUROZONE; EFFICIENT market theory; MONEY supply
- Publication
Economic Affairs, 2022, Vol 42, Issue 1, p186
- ISSN
0265-0665
- Publication type
Article
- DOI
10.1111/ecaf.12516