Monetary policy in an endogenous money economy

A Handbook of Alternative Monetary Economics

Volumn , Issue , 2007, Pages 242-257

  Palley, Thomas ^a  

^a CENTERS FOR DISEASE CONTROL AND PREVENTION   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84881786140     PISSN: None     EISSN: None     Source Type: Book    
DOI: None     Document Type: Chapter

References (53)

1. Akerlof, G.A., W.T. Dickens and G.L. Perry (2000), 'Near-rational wage and price setting and the long-run Phillips Curve', Brookings Papers on Economic Activity, 1, 1-60.
2. Arestis, P. and M. Sawyer (2006), 'The nature and role of monetary policy when money is endogenous', Cambridge Journal of Economics, forthcoming.
3. Barro, R.J. and D.B. Gordon (1983), 'A positive theory of monetary policy in a natural rate model', Journal of Political Economy, 91(August), 589-610.
4. Bernanke, S. Ben (2002), 'Asset price bubbles and monetary policy', remarks before the New York Chapter of the National Association for Business Economics, New York, 15 October.
5. Bernanke, B.S. and M. Gertler (2000), 'Monetary policy and price volatility', NBER Working Paper 7559, February.
6. Bernanke, B.S. and F.S. Mishkin (1997), 'Inflation targeting: a new framework for monetary policy?', Journal of Economic Perspectives, 11(2), 97-116.
7. Bernanke, B.S., T. Laubach, F.S. Mishkin and A.S. Posen (1999), Inflation Targeting: Lessons from the International Experience, Princeton: Princeton University Press.
8. Blinder, A. (1998), Central Banking in Theory and Practice, Cambridge, MA: MIT Press.
9. Boyan, M.F., S.G. Cecchetti and R. O'Sullivan (2002), 'Asset prices in the measurement of inflation', NBER Working Paper 8700, January.
10. De Long, J.B. (2000), 'The triumph of monetarism?', The Journal of Economic Perspectives, 14(Winter), 83-94.
11. Epstein, G. (1992), 'A political economy model of comparative central banking', Review of Radical Political Economics, 24, 1-30.
12. Fisher, I. (1933), 'The debt-deflation theory of great depressions', Econometrica, 337-57.
13. Fontana, G. and A. Palacio-Vera (2002), 'Monetary policy rules: what are we learning?', Journal of Post Keynesian Economics, 24(Summer), 547-68.
14. Friedman, B. (1975), 'Targets, instruments, and indicators of monetary policy', Journal of Monetary Economics, 1, 443-73.
15. Friedman, B. (1990), 'Targets and instruments of monetary policy', in B.M. Friedman and F.H. Hahn (eds), Handbook of Monetary Economics, Volume 2, New York: North-Holland, pp. 1185-230.
16. Friedman, B. (1999), 'The future of monetary policy: the central bank as an army with only a signal corps?', International Finance, 2, 321-38.
17. Friedman, B. (2000), 'The role of interest rates in Federal Reserve policymaking', NBER Working Paper No. 8047.
18. Friedman, M. and A. Schwartz (1963a), 'Money and business cycles', Review of Economics and Statistics, supplement, February, 32-64.
19. Friedman, M. and A. Schwartz (1963b), A Monetary History of the United States, Princeton, NJ: Princeton University Press.
20. Galbraith, J.K. (1997), 'Test the limit', Challenge, 34(September-October), 66.
21. Goldfeld, S.M. (1976), 'The case of the missing money', Brookings Papers on Economic Activity, 3, 683-730.
22. Goodhart, C.A.E. (1989), 'The conduct of monetary policy', Economic Journal, 99, 293-346.
23. Kaldor, N. (1970), 'The new monetarism', Lloyds Bank Review, 97(July), 1-17.
24. Kaldor, N. (1982), The Scourge of Monetarism, New York: Oxford University Press.
25. Kydland, F.E. and E.C. Prescott (1977), 'Rules rather than discretion: the inconsistency of optimal plans', Journal of Political Economy, 85, 473-92.
26. Minsky, H.P. (1982), Can 'It' Happen Again?, Armonk, NY: M.E. Sharpe.
27. Mishkin, F. and A. Posen (1997), 'Inflation targeting: lessons from four countries', Economic Policy Review, Federal Reserve Bank of New York, 3(August), 9-110.
28. Mishkin, F.S. (2001), 'The transmission mechanism and the role of asset prices in monetary policy', NBER Working Paper 8617, December.
29. Moore, B.J. (1988), Horizontalists and Verticalists: the Macroeconomics of Credit Money, Cambridge: Cambridge University Press.
30. Palley, T.I. (1987), 'Bank lending, discount window borrowing, and the endogenous money supply: a theoretical framework', Journal of Post Keynesian Economics, 10(2), 282-303.
31. Palley, T.I. (1990), 'A theory of downward wage rigidity: job commitment costs, replacement costs, and tacit coordination', Journal of Post Keynesian Economics, 12, 466-86.
32. Palley, T.I. (1993), 'Milton Friedman and the monetarist counter-revolution: a re-appraisal', Eastern Economic Journal, 19(Winter), 71-82.
33. Palley, T.I. (1994), 'Competing theories of the money supply: theory and evidence', Metroeconomica, 45(1), 67-88.
34. Palley, T.I. (1996), Post Keynesian Economics: Debt, Distribution, and the Macro Economy, London: Macmillan.
35. Palley, T.I. (1998), Plenty of Nothing: The Down-sizing of the American Dream and the Case for Structural Keynesianism, Princeton, NJ: Princeton University Press.
36. Palley, T.I. (1999a), 'The structural unemployment policy trap: how the NAIRU can mislead policymakers', New Economy, 6(June), 79-83.
37. Palley, T.I. (1999b), 'The U.S. inflation process: does nominal wage inflation cause price inflation, vice versa, or neither?', Review of Radical Political Economics, 31(September), 12-19.
38. Palley, T.I. (2000), 'Stabilizing finance: the case for asset based reserve requirements', Financial Markets and Society, The Financial Markets Centre, Philomont, VA, August.
39. Palley, T.I. (2002a), 'Endogenous money: what it is and why it matters', Metroeconomica, 53, 152-80.
40. Palley, T.I. (2002b), 'Why inflation targeting is not enough: monetary policy in the presence of financial exuberance', paper presented at a conference on Monetary Policy held at the Council on Foreign Relations, New York, July.
41. Palley, T.I. (2003), 'The backward bending Phillips Curve and the minimum unemployment rate of inflation (MURI): wage adjustment with opportunistic firms', The Manchester School of Economic and Social Studies, 71(1), 35-50.
42. Pollin, R. (1993), 'Public credit allocation through the Federal Reserve: why it is needed; how it should be done', in Dymski, G.A., G. Epstein and R. Pollin (eds), Transforming the U.S. Financial System: Equity and Efficiency for the 21st Century, Armonk, NY: M.E. Sharpe, pp. 321-52.
43. Poole, W. (1970), 'Optimal choice of monetary policy instruments in a simple stochastic macro model', Quarterly Journal of Economics, 84, 197-216.
44. Posen, A. (2002), 'Six practical views of central bank transparency', Institute for International Economics, Washington DC, unpublished working paper.
45. Rowthorn, R.E. (1977), 'Conflict, inflation and money', Cambridge Journal of Economics, 1, 215-39.
46. Sargent, T.J. and N.Wallace (1975), 'Rational expectations, the optimal monetary instrument, and the optimal money supply rule', Journal of Political Economy, 83, 241-54.
47. Setterfield, M., D. Gordon and L. Osberg (1992), 'Searching for a will o' the wisp: an empirical study of the NAIRU in Canada', European Economic Review, 36, 119-36.
48. Staiger, D., J.H. Stock and M.W. Watson (1997), 'The NAIRU, unemployment and monetary policy', Journal of Economic Perspectives, 11, 33-50.
49. Summers, L. (1991), 'How should long-term monetary policy be determined?', Journal of Money, Credit, and Banking, 625-31.
50. Thurow, L. (1972), 'Proposals for rechanneling funds to meet social priorities', in Federal Reserve Bank of Boston, Policies for a More Competitive Financial System, conference proceedings, June, 179-89.
51. Tinbergen, J. (1952), On the Theory of Economic Policy, Amsterdam: North-Holland.
52. Tobin, J. (1998), 'Monetary policy: recent theory and practice', Cowles Foundation Discussion Paper No. 1187, Yale University.
53. Wray, L.R. (1998), 'An introduction to a history of money', in Understanding Modern Money: The Key to Full Employment and Price Stability, Cheltenham, UK and Lyme, USA: Edward Elgar, pp. 39-73.