New Monetary Policy and Keynes
The purpose of this paper is to compare new developments on the monetary policy front, or what is known as inflation targeting, with some of Keynes's ideas as propounded in a pamphlet in 1932. A number of the ingredients of the new monetary policy approach can be found in Keynes, especially that of central bank independence. However, new monetary policy is a major policy prescription closely associated with the New Consensus Macroeconomics. The ideas and policy implications of this new consensus, however, are very different from Keynes's ideas on central banking and monetary policy. We explore these propositions in this contribution.
Volume (Year): 3 (2006)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.elgaronline.com/ejeep|
When requesting a correction, please mention this item's handle: RePEc:elg:ejeepi:v:3:y:2006:i:2:p:245-262. 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: (Helen Craven)
If references are entirely missing, you can add them using this form.