Journal Article
New monetarist economics: methods
Abstract: This essay articulates the principles and practices of New Monetarism, the authors' label for a recent body of work on money, banking, payments, and asset markets. They first discuss methodological issues distinguishing their approach from others: New Monetarism has something in common with Old Monetarism, but there are also important differences; it has little in common with Keynesianism. They describe the principles of these schools and contrast them with their approach. To show how it works in practice, they build a benchmark New Monetarist model and use it to study several issues, including the cost of inflation, liquidity, and asset trading. They also develop a new model of banking.
https://doi.org/10.20955/r.92.265-302
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https://fraser.stlouisfed.org/title/review-federal-reserve-bank-st-louis-820/july-august-2010-620768
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Bibliographic Information
Provider: Federal Reserve Bank of St. Louis
Part of Series: Review
Publication Date: 2010
Volume: 92
Issue: May
Pages: 265-302