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Expectations and Monetary Policy: A Historical Perspective

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  • Cesarano, Filippo

Abstract

Classical economists developed a surprisingly sophisticated analysis of money supply variations that, anticipating the main features of contemporary theory, emphasizes the role of information in the transmission mechanism. Drawing on the classical contributions, this paper outlines a general approach to monetary policy, treating information as a scarce commodity allocated optimally by rational agents. Copyright 1998 by Blackwell Publishers Ltd and The Victoria University of Manchester

Suggested Citation

  • Cesarano, Filippo, 1998. "Expectations and Monetary Policy: A Historical Perspective," The Manchester School of Economic & Social Studies, University of Manchester, vol. 66(4), pages 439-452, September.
  • Handle: RePEc:bla:manch2:v:66:y:1998:i:4:p:439-52
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    Cited by:

    1. Cesarano, Filippo, 1998. "Hume's specie-flow mechanism and classical monetary theory: An alternative interpretation," Journal of International Economics, Elsevier, vol. 45(1), pages 173-186, June.

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