Money and the natural rate of unemployment

Research output: Book/ReportBookResearchpeer-review

Abstract

The prevailing view among economists and policy makers is that money has no impact on production in a longer term characterised by full price and wage flexibility and rational expectations. This book presents a revisionist view of monetary policy and monetary regimes. It presents several new mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed, including: the uses of monetary policy and monetary regimes in achieving macroeconomic goals; the impact of an independent central bank; the effects of a movement from floating exchange rates to fixed exchange rates in a monetary union. In addition to the theoretical and policy discussions the book also contains a comprehensive survey of the current state of scholarship in this area. This book is both a research resource for scholars and policy makers, and a text for advanced undergraduate and graduate students in macroeconomics, labour economics and finance. This work offers a revisionist view of monetary policy and monetary regimes. It presents several new mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed, including the impact of an independent central bank.
The prevailing view among economists and policy makers is that money has no impact on production in a longer term characterised by full price and wage flexibility and rational expectations. This book presents a revisionist view of monetary policy and monetary regimes. It presents several new mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed, including: the uses of monetary policy and monetary regimes in achieving macroeconomic goals; the impact of an independent central bank; the effects of a movement from floating exchange rates to fixed exchange rates in a monetary union. In addition to the theoretical and policy discussions the book also contains a comprehensive survey of the current state of scholarship in this area. This book is both a research resource for scholars and policy makers, and a text for advanced undergraduate and graduate students in macroeconomics, labour economics and finance. This work offers a revisionist view of monetary policy and monetary regimes. It presents several new mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed, including the impact of an independent central bank.
LanguageEnglish
Place of PublicationCambridge
PublisherCambridge University Press
Number of pages308
ISBN (Print)0521661390, 0521667399
StatePublished - 2000

Keywords

    Cite this

    Østrup, F. (2000). Money and the natural rate of unemployment. Cambridge: Cambridge University Press.
    Østrup, Finn. / Money and the natural rate of unemployment. Cambridge : Cambridge University Press, 2000. 308 p.
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    Østrup, F 2000, Money and the natural rate of unemployment. Cambridge University Press, Cambridge.

    Money and the natural rate of unemployment. / Østrup, Finn.

    Cambridge : Cambridge University Press, 2000. 308 p.

    Research output: Book/ReportBookResearchpeer-review

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    Østrup F. Money and the natural rate of unemployment. Cambridge: Cambridge University Press, 2000. 308 p.