Monetary Theory as a Basis for Monetary Policy

  • Axel Leijonhufvud

Part of the International Economic Association Series book series (IEA)

Table of contents

  1. Front Matter
    Pages i-xvi
  2. Monetary Theory and Central Banking

    1. Axel Leijonhufvud
      Pages 1-30
  3. Intertemporal General Equilibrium

    1. Front Matter
      Pages 31-31
    2. Jacques H. Drèze, Heracles M. Polemarchakis
      Pages 33-71
    3. Robert E. Lucas Jr
      Pages 96-142
  4. Monetary and Financial Instability

    1. Front Matter
      Pages 143-143
    2. Albert M. Wojnilower
      Pages 145-172
    3. Daniel Heymann, Martin Kaufman, Pablo Sanguinetti
      Pages 173-214
  5. Back Matter
    Pages 255-271

About this book


Since the inflationary 1970s, theoretical work on monetary policy has concentrated almost exclusively on price-level stabilization and the avoidance of nominal shocks. In the aftermath of the collapse of financial bubbles in various parts of the world, the accomplishments and limitations of this dominant approach are debated in this volume edited by Axel Leijonhufvud, with contributions by a number of noted monetary economists, including Nobel Laureate Robert Lucas.


growth Inflation macroeconomics monetary policy

Editors and affiliations

  • Axel Leijonhufvud
    • 1
  1. 1.University of TrentoItaly

Bibliographic information

Industry Sectors
Finance, Business & Banking