Central Planning and Monetarism: Fellow Travelers? / Richard Portes.

Format:

Book

Author/Creator:

Portes, Richard.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w0782.

NBER working paper series no. w0782

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Central Planning and Monetarism

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1981.

Summary:

We discuss the monetary institutions and macroeconomics of centrally planned economies (CPEs) ; objectives and techniques of monetary control; the relevance to CPEs of the neutrality property, the natural rate hypothesis, and the quantity theory; the roles of stock .and flow variables and the stability of asset demand and expenditure functions; the relation between monetary policy, fiscal policy and incomes policy in CPEs; the CPE equivalent of a floating exchange rate and its implications for monetary policy; and "super crowding out." Many considerations suggest that monetarism as theory and policy might be more applicable under central planning than it is in market economies.

Notes:

Print version record

October 1981.