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The general ineffectiveness of monetary policy or the weaponization of inflation

In: The Future of Central Banking

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  • Louis-Philippe Rochon

Abstract

Monetary policy has been over-relied upon in the recent past to deliver on output and price stability. The era of austerity saw the rise of monetary policy dominance, and though this has waned a bit since both the financial crisis and COVID-19, the general framework upon which the monetary policy apparatus is built remains the same. In this chapter, I deconstruct this model in fie arguments, and propose an alternative theory of the transmission of monetary policy, through income distribution.

Suggested Citation

  • Louis-Philippe Rochon, 2022. "The general ineffectiveness of monetary policy or the weaponization of inflation," Chapters, in: Sylvio Kappes & Louis-Philippe Rochon & Guillaume Vallet (ed.), The Future of Central Banking, chapter 1, pages 20-36, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19461_1
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    Economics and Finance;

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