Munich Personal RePEc Archive

New Monetarist Economics: Methods

Williamson, Stephen D. and Wright, Randall (2010): New Monetarist Economics: Methods.

[img]
Preview
PDF
MPRA_paper_21486.pdf

Download (404kB) | Preview

Abstract

This essay articulates the principles and practices of New Monetarism, our label for a recent body of work on money, banking, payments, and asset markets. We first discuss methodological issues distinguishing our approach from others: it has something in common with Old Monetarism, but there are also some important differences; it has little in common with Old or New Keynesianism. We describe the key principles of these schools and contrast them with our approach. To show how it works in practice, we build a benchmark New Monetarist model, and use it to address frontier issues concerning asset markets and banking.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.