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Monetary Theory and Monetary Policy: Reflections on the Development over the last 150 Years

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  • Otmar Issing

    ()

  • Volker Wieland

    ()
    (Gothe Universität Frankfurt)

Abstract

In this paper, we provide some reflections on the development of monetary theory and monetary policy over the last 150 years. Rather than presenting an encompassing overview, which would be overambitious, we simply concentrate on a few selected aspects that we view as milestones in the development of this subject.We also try to illustrate some of the interactions with the political and financial system, academic discussion and the views and actions of central banks.

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Bibliographic Info

Article provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.

Volume (Year): 233 (2013)
Issue (Month): 3 (May)
Pages: 423-445

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Handle: RePEc:jns:jbstat:v:233:y:2013:i:3:p:423-445

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Keywords: Monetary policy; history of economic thought; monetary policy regimes; German monetary history.;

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