
Monetary policy on interest rates: a retrospective analysis since Thornton
In response to the affirmation by certain authors and critics of a recent return to an interest-rate policy that, in their opinion, resembles a throwback to the nineteenth century theory of monetary policy on interest rates, I pose the question of the difficulties of interest-rate policy
in a retrospective analysis beginning with the current that founded the short-term interest rate policy within classical analysis and by focusing my discussion on several key authors (Thornton, Banking School, Bagehot, Wicksell, Keynes, contemporary authors such as Woodford). To this end,
I study the importance that the interbank money market plays for these authors, which determines the target rate for the central bank.
No Reference information available - sign in for access.
No Citation information available - sign in for access.
No Supplementary Data.
No Article Media
No Metrics
Keywords: Keynes's monetary policy; Money market; Wicksell's monetary policy; classical monetary policy; interest rate monetary policy
Document Type: Research Article
Publication date: October 1, 2013
- Editorial Board
- Information for Authors
- Subscribe to this Title
- Ingenta Connect is not responsible for the content or availability of external websites