The effects of monetary policy on the real sector: what do we know?

Authors

  • J.C. CHOURAQUI
  • M.J. DRISCOLL
  • M. STRAUSS-KHAN

DOI:

https://doi.org/10.13133/2037-3643/11109

Keywords:

Monetary policy, neo-Keynesian, monetarist, new classical economists, real sector

Abstract

During recent years, the money-income relationship has broken down and monetary policies have been replaced with more eclectic policy stances. This article reviews the current wisdom with regard to the effects of monetary aggregates on domestic real sector variables. The competing analytical frameworks are split into the non-clearing markets camp and the clearing camp. In the former, neo-Keynesian and monetarist ideas are compared; in the latter stand the 'new classical economists'. The empirical literature for the above is reviewed thoroughly.


JEL: E52, E12, E13

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Published

2013-11-23

How to Cite

CHOURAQUI, J., DRISCOLL, M., & STRAUSS-KHAN, M. (2013). The effects of monetary policy on the real sector: what do we know?. PSL Quarterly Review, 42(168). https://doi.org/10.13133/2037-3643/11109

Issue

Vol. 42 No. 168 (1989)

Section

Editorial

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