Template-Type: ReDIF-Paper 1.0
Author-Name: Thomas Mayer
Author-Name-First: Thomas
Author-Name-Last: Mayer
Author-Workplace-Name: Department of Economics, University of California Davis
Title: Monetarists and Keynesians on Central Banking: A Study of a Failed Debate
Abstract: This paper reviews and appraises the debate about whether the central bank should pursue counter-cyclical policy or generate a stable monetary growth rate. It focuses on whether the participants have followed the rules of "good conversation," and concludes that they have not. Monetarist have over-stated their case, and their opponents have, in large part, just ignored salient points that the monetarists have raised. All the same, the debate has advanced economics to some extent. To support these conclusions the literature generated by this debate is discussed in some detail.
Length: 65
File-URL: https://repec.dss.ucdavis.edu/files/JdEqicur9CXgcHJnWSFAXpmM/96-6.pdf
File-Format: application/pdf
Number: 137
Classification-JEL: 
KeyWords: 
Creation-Date: 20030107
Handle: RePEc:cda:wpaper:137