RECENT DEVELOPMENTS IN MONETARY THEORY*
I. INTRODUCTION
The field of monetary theory has been developing very rapidly during the past 10 years, as a result of a variety of influences. These influences include the attractive theoretical intricacy of monetary problems, particularly the incentive to formulate monetary theory in terms of more modern general equilibrium concepts. That particular strand of development goes back to the effort of Oscar Lange to translate Keynesian theory into general equilibrium theory, and continues through the work of Lloyd Metzler, Don Patinkin, R. M. Clower and a number of other primarily mathematical ...
Get Essays in Monetary Economics (Collected Works of Harry Johnson) now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
