EXPECTATIONS AND MONETARY-POLICY - A HISTORICAL-PERSPECTIVE

Authors
CESARANO F
Citation
F. Cesarano, EXPECTATIONS AND MONETARY-POLICY - A HISTORICAL-PERSPECTIVE, Manchester School of Economic and Social Studies, 66(4), 1998, pp. 439-452
Citations number
34
Categorie Soggetti
Economics
Journal title
Manchester School of Economic and Social Studies → ACNP
ISSN journal
14636786
Volume
66
Issue
4
Year of publication
1998
Pages
439 - 452
Database
ISI
SICI code
1463-6786(1998)66:4<439:EAM-AH>2.0.ZU;2-G
Abstract
Classical economists developed a surprisingly sophisticated analysis o f money supply variations that, anticipating the main features of cont emporary theory, emphasizes the role of information in the transmissio n mechanism. Drawing on the classical contributions, this paper outlin es a general approach to monetary policy, treating information as a sc arce commodity allocated optimally by rational agents.