MIT and Money
AbstractThe Treasury-Fed Accord of 1951 and the subsequent rebuilding of private capital markets, first domestically and then globally, provided the shifting institutional background against which thinking about money and monetary policy evolved within the MIT economics department. Throughout that evolution, a constant, and a constraint, was the conception of monetary economics that Paul Samuelson had himself developed as early as 1937, a conception that informed the decision to bring in Modigliani in 1962, as well as Foley and Sidrauski in 1965.
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Bibliographic InfoPaper provided by Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis in its series GREDEG Working Papers with number 2013-44.
Length: 34 pages
Date of creation: Oct 2013
Date of revision:
MIT; monetary economics; Paul Samuelson;
Find related papers by JEL classification:
- B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-12-06 (All new papers)
- NEP-CBA-2013-12-06 (Central Banking)
- NEP-HIS-2013-12-06 (Business, Economic & Financial History)
- NEP-HPE-2013-12-06 (History & Philosophy of Economics)
- NEP-MAC-2013-12-06 (Macroeconomics)
- NEP-MON-2013-12-06 (Monetary Economics)
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.:
- Perry Mehrling, 2002. "Don Patinkin and the origins of postwar monetary orthodoxy," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(2), pages 161-185.
- Paul A. Samuelson, 1968. "What Classical and Neoclassical Monetary Theory Really was," Canadian Journal of Economics, Canadian Economics Association, vol. 1(1), pages 1-15, February.
- Franco Modigliani, 1977.
"The monetarist controversy; or, should we forsake stabilization policies?,"
Federal Reserve Bank of San Francisco, issue Spr suppl, pages 27-46.
- Modigliani, Franco, 1977. "The Monetarist Controversy or, Should We Forsake Stabilization Policies?," American Economic Review, American Economic Association, vol. 67(2), pages 1-19, March.
- Tobin, James, 1969. "A General Equilibrium Approach to Monetary Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 15-29, February.
- Hahn, F H, 1971. "Professor Friedman's Views on Money," Economica, London School of Economics and Political Science, vol. 38(149), pages 61-80, February.
- Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
- Franco Modigliani, 1964. "Some Empirical Tests of Monetary Management and of Rules versus Discretion," Journal of Political Economy, University of Chicago Press, vol. 72, pages 211.
- Paul A. Samuelson, 1972. "Samuelson on the Neoclassical Dichotomy: A Reply," Canadian Journal of Economics, Canadian Economics Association, vol. 5(2), pages 283-92, May.
- Paul A. Samuelson, 1969. "Nonoptimality of Money Holding under Laissez Faire," Canadian Journal of Economics, Canadian Economics Association, vol. 2(2), pages 303-308, May.
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