Swiss Economicblogs.org
At the recent Karl Brunner Centenary event, Ernst Baltensperger characterized Monetarism as a set of five convictions: Money matters (as accepted in the neoclassical synthesis) Rules are preferred over discretion (in contrast to the views of Modigliani, Samuelson or Klein), but some flexibility is accepted Inflation and inflation expectations are key (in contrast to traditional Keynesian views)—adaptive expectation formation, parallels to Phelps Money growth targeting is useful—Brunner...
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