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The Deficit: A Monetarist's Perspective
1993There is no "monetarist position" on the budget deficit. Monetarism is mainly about the effects of money on inflation. Deficits have an effect on inflation—defined as the maintained rate of price change—only if they are financed by issuing money. Argentina, Bolivia, and Brazil are recent examples of inflations financed by money issued to pay for ...
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Economic Affairs, 1985
Bernard Foley of the University of Liverpool contests Rosaline Levaci's charge in Economic Affairs, Vol. 4, No. 3. Keynes acknowledged, she insists, that real wages influenced employment.
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Bernard Foley of the University of Liverpool contests Rosaline Levaci's charge in Economic Affairs, Vol. 4, No. 3. Keynes acknowledged, she insists, that real wages influenced employment.
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1990
Abstract This chapter gives a review of the development and theory of monetarist macroeconomics, a school that started in the 1930s. It mainly discusses the views of Milton Friedman––long regarded as the leader of the monetarist school––but also addresses the contributions of other economists to the school and looks at dissenting ...
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Abstract This chapter gives a review of the development and theory of monetarist macroeconomics, a school that started in the 1930s. It mainly discusses the views of Milton Friedman––long regarded as the leader of the monetarist school––but also addresses the contributions of other economists to the school and looks at dissenting ...
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1999
As the certainties of the Bretton Woods world crumbled away in the early 1970s, intellectual fashions in economics moved decisively away from the Keynesian orthodoxy of the previous quarter of a century. Monetarism became the theoretical and practical discipline to which the vast majority of those involved in economic affairs, both in the academic and ...
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As the certainties of the Bretton Woods world crumbled away in the early 1970s, intellectual fashions in economics moved decisively away from the Keynesian orthodoxy of the previous quarter of a century. Monetarism became the theoretical and practical discipline to which the vast majority of those involved in economic affairs, both in the academic and ...
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Economic Affairs, 1984
Rosalind Levaic of the Open University argues that Keynes has been misinterpreted by the Cambridge Marxist‐Keynesians and that standard textbooks (Samuelson, Lipsey and others) have misled students and non‐economists by failing to emphasise that Keynes accepted the classical view that a reduction in unemployment required a fall in real wages.
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Rosalind Levaic of the Open University argues that Keynes has been misinterpreted by the Cambridge Marxist‐Keynesians and that standard textbooks (Samuelson, Lipsey and others) have misled students and non‐economists by failing to emphasise that Keynes accepted the classical view that a reduction in unemployment required a fall in real wages.
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The Journal of Economic Education, 1983
Friedman examines the quantity theory of money and the recent application of monetary policy in Japan, the United Kingdom, and the United States. In all three countries, the reduction of monetary growth has reduced inflation. In the United States, in 1983, the renewed expansion of the money supply raises the distinct possibility that inflation will ...
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Friedman examines the quantity theory of money and the recent application of monetary policy in Japan, the United Kingdom, and the United States. In all three countries, the reduction of monetary growth has reduced inflation. In the United States, in 1983, the renewed expansion of the money supply raises the distinct possibility that inflation will ...
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The Canadian Journal of Economics, 1971
Keynes et les . Les regles que Friedman a mises de l'avant pour la politique monetaire impliquent l'une ou l'autre des trois situations suivantes: (1) des salaires nominaux decroissants; (2) des salaires nominaux constants; (3) des salaires nominaux croissants, cette croissance se faisant en proportion de l'augmentation de la productivite.
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Keynes et les . Les regles que Friedman a mises de l'avant pour la politique monetaire impliquent l'une ou l'autre des trois situations suivantes: (1) des salaires nominaux decroissants; (2) des salaires nominaux constants; (3) des salaires nominaux croissants, cette croissance se faisant en proportion de l'augmentation de la productivite.
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1980
Monetarists should not be confused with ‘monetarians’. The former are those who study the way money works, the way it is created, the way it circulates, the way it is destroyed and its role in trade. They attempt to understand, to analyse and to explain — objectively.
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Monetarists should not be confused with ‘monetarians’. The former are those who study the way money works, the way it is created, the way it circulates, the way it is destroyed and its role in trade. They attempt to understand, to analyse and to explain — objectively.
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1976
The Monetarists’ prescription for curing inflation largely, though not exclusively, revolves around the issue of controlling the money supply. In their view if inflation is to be slowed down, then people must be persuaded that prices will not rise as much as originally expected during the ensuing time period.
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The Monetarists’ prescription for curing inflation largely, though not exclusively, revolves around the issue of controlling the money supply. In their view if inflation is to be slowed down, then people must be persuaded that prices will not rise as much as originally expected during the ensuing time period.
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