Advanced Search
MyIDEAS: Login to save this article or follow this journal

Money and monetary policy for the twenty-first century

Contents:

Author Info

  • Jerry L. Jordan
Registered author(s):

    Abstract

    This essay challenges the conventional wisdom about money and monetary policy. The role of money in fostering prosperity is a function of the quality, as well as the quantity, of money. Inflation always harms the performance of an economy. Deflations caused by productivity and innovation can be virtuous. A definition of a non-inflationary environment is set forth. Rapid real growth and low unemployment cannot cause inflation. There is no trade-off between inflation and employment. Higher commodity prices or "weak" exchange rates cannot cause inflation. High market interest rates are a symptom of inflationary policies. Low interest rates are a reflection of successful anti-inflationary policies, not "easy money."

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://research.stlouisfed.org/publications/review/06/11/Jordan.pdf
    Download Restriction: no

    Bibliographic Info

    Article provided by Federal Reserve Bank of St. Louis in its journal Review.

    Volume (Year): (2006)
    Issue (Month): Nov ()
    Pages: 485-510

    as in new window
    Handle: RePEc:fip:fedlrv:y:2006:i:nov:p:485-510:n:v.88no.6

    Contact details of provider:
    Postal: P.O. Box 442, St. Louis, MO 63166
    Fax: (314)444-8753
    Web page: http://www.stlouisfed.org/
    More information through EDIRC

    Order Information:
    Email:
    Web: http://www.stls.frb.org/research/order/pubform.html

    Related research

    Keywords: Monetary policy;

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. James M. Buchanan, 1994. "Notes on the Liberal Constitution," Cato Journal, Cato Journal, Cato Institute, Cato Journal, Cato Institute, vol. 14(1), pages 1-9, Spring/Su.
    2. Alchian, Armen A, 1977. "Why Money?," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 9(1), pages 133-40, February.
    3. Alesina, Alberto & Summers, Lawrence H, 1993. "Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 25(2), pages 151-62, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:fip:fedlrv:y:2006:i:nov:p:485-510:n:v.88no.6. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna Xiao).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.