The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Monetarism

  • Phillip Cagan
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_814

Abstract

Monetarism is the view that the quantity of money has a major influence on economic activity and the price level and that the objectives of monetary policy are best achieved by targeting the rate of growth of the money supply.

Keywords

Brunner, K. Budget deficits Cash balance approach Central banks Chicago School Consumer expenditure Consumption multiplier Crowding out Friedman, M. Gold standard Inflation Keynesianism Liquidity trap Meltzer, A. Mints, L. Monetarism Monetary approach to the balance of payments Monetary base Monetary targeting Monetary transmission mechanism Money supply Natural rate of unemployment Phillips curve Quantity theory of money Rational expectations Simons, H. Stabilization Unemployment Velocity of circulation 

JEL Classifications

E5 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Phillip Cagan
    • 1
  1. 1.