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Monetary Theory and Central Banking

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

Abstract

In the 1970s, in the waning days of the so-called Keynesian consensus, macropolicy was still stabilization policy. It was believed that the private sector was unstable, but that the discretionary policies of a benevolent, competent and consistent government could maintain high employment and reasonable price stability.

Keywords

Interest Rate Monetary Policy Central Banking Real Interest Rate Natural Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© International Economic Association 2001

Authors and Affiliations

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

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