Abstract
Of the authors of this chapter, one has learned Hicksian economics from John Hicks at Oxford, the other has learned it at MIT as a large part of what has for a long time been recognised as ‘mainstream economies’. While it took us a very small effort to recognise how much we both owe to Value and Capital, having departed from the domain of theoretical economics to work in a central bank we decided it would have been too ambitious and ultimately fruitless to attempt to write an essay on that book. We instead tried to put to good use some of Hicks’s theoretical achievements to develop an investigation of an issue which is very close to our experience and current preoccupations, that is, the relationship between fiscal policy, monetary policy and exchange rate.
We thank Kenneth Arrow, William Branson, Riccardo Faini, Edmund Phelps and Stefano Zamagni for helpful comments and discussions.
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© 1991 International Economic Association
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Galli, G., Masera, R.S. (1991). Fiscal Responsibility, Monetary Policy and the Exchange Rate. In: McKenzie, L.W., Zamagni, S. (eds) Value and Capital: Fifty Years Later. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11029-2_22
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