Woodford and Wicksell on Interest and Prices The Place of the Pure Credit Economy in the Theory of Monetary Policy
Knut Wickwell's "pure credit economy" and Michael Woodford's "cashless economy" have much in common whereas Wickwell's model was developed in order to extend an already existing theoretical framewok, Woodford's is presented as constituting, in and of itself, a foundation for the theory of monetary policy. But models of this type are sometimes inadequate guides to policy problems. This conclusion is illustrated with reference to international monetary issues and the so-called "zero-lower bound" problem.
|Date of creation:||2004|
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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.:
- David Longworth, 2003. "Money in the Bank (of Canada)," Technical Reports 93, Bank of Canada.
- Laidler,David, 1999.
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