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Monetary Theory and Central Banking

In: Monetary Theory as a Basis for Monetary Policy

Author

Listed:
  • Axel Leijonhufvud

    (University of Trento)

Abstract

In the 1970s, in the waning days of the so-called Keynesian consensus, macropolicy was still stabilization policy. It was believed that the private sector was unstable, but that the discretionary policies of a benevolent, competent and consistent government could maintain high employment and reasonable price stability.

Suggested Citation

  • Axel Leijonhufvud, 2001. "Monetary Theory and Central Banking," International Economic Association Series, in: Axel Leijonhufvud (ed.), Monetary Theory as a Basis for Monetary Policy, chapter 1, pages 1-30, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-4039-3961-6_1
    DOI: 10.1007/978-1-4039-3961-6_1
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    Cited by:

    1. Carmelo Ferlito, 2022. "Axel Leijonhufvud: A personal recollection from an Austrian perspective," PSL Quarterly Review, Economia civile, vol. 75(302), pages 299-310.

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