The Wicksellian Flavour in macroeconomics
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| Format: | Artículo científico |
| Langue: | en |
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Universidad de Antioquia
2008
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| _version_ | 1876438611076841472 |
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| author | Nicolas Barbaroux |
| author_facet | Nicolas Barbaroux |
| contents | The Wicksellian Flavour in macroeconomics Nicolas Barbaroux Economía y Finanzas Woodford Wicksell monetarism monetary policy Macroeconomics found its new sacrosaint economist in the person of Johan Gustav Knut Wicksell. The recent development of New Keynesian models -or models from the New Neo-Classical Synthesis- plead in favour of a Wicksellian revival. Not only does the actual monetary policy framework take the form of a monetary policy rule -in line with Wicksell´s original theory- but the recent development of the late 1990´s models also legitimates such Wicksellian flag due to their de-emphasis of money. The highest point of interest was taken with the publication of Woodford´s "Interest and Prices" in 2003 that explicitly assumed a Wicksellian flavour. The aim of this paper is to study the policy implications of such a Wicksellian inheritance and to determine the extent to which such a Wicksellian wind in macroeconomics is synonymous of the end of Monetarism. 2008 artículo científico 1657-4214 https://www.redalyc.org/articulo.oa?id=86101107 en http://www.redalyc.org/revista.oa?id=861 Perfil de Coyuntura Económica application/pdf Universidad de Antioquia Perfil de Coyuntura Económica (Colombia) Num.11 |
| format | Artículo científico |
| id | redalyc_86101107 |
| institution | Redalyc |
| language | en |
| publishDate | 2008 |
| publisher | Universidad de Antioquia |
| spellingShingle | The Wicksellian Flavour in macroeconomics Nicolas Barbaroux Economía y Finanzas Woodford Wicksell monetarism monetary policy The Wicksellian Flavour in macroeconomics Nicolas Barbaroux Economía y Finanzas Woodford Wicksell monetarism monetary policy Macroeconomics found its new sacrosaint economist in the person of Johan Gustav Knut Wicksell. The recent development of New Keynesian models -or models from the New Neo-Classical Synthesis- plead in favour of a Wicksellian revival. Not only does the actual monetary policy framework take the form of a monetary policy rule -in line with Wicksell´s original theory- but the recent development of the late 1990´s models also legitimates such Wicksellian flag due to their de-emphasis of money. The highest point of interest was taken with the publication of Woodford´s "Interest and Prices" in 2003 that explicitly assumed a Wicksellian flavour. The aim of this paper is to study the policy implications of such a Wicksellian inheritance and to determine the extent to which such a Wicksellian wind in macroeconomics is synonymous of the end of Monetarism. 2008 artículo científico 1657-4214 https://www.redalyc.org/articulo.oa?id=86101107 en http://www.redalyc.org/revista.oa?id=861 Perfil de Coyuntura Económica application/pdf Universidad de Antioquia Perfil de Coyuntura Económica (Colombia) Num.11 |
| title | The Wicksellian Flavour in macroeconomics |
| topic | Economía y Finanzas Woodford Wicksell monetarism monetary policy |
| url | https://www.redalyc.org/articulo.oa?id=86101107 |