The New Monetary Economics and Keynes′ Theory of Money
Filippo Cesarano
(Banca d′Italia, Rome, Italy)
2865
Abstract
According to the New Monetary Economics (NME), the introduction of non‐tangible payments media would altogether invalidate current monetary economics. After an illustration of the main tenets of the NME, critically analyses its rejection of both the quantity theory and liquidity preference on the basis of Keynes′ theory of money.
Keywords
Citation
Cesarano, F. (1994), "The New Monetary Economics and Keynes′ Theory of Money", Journal of Economic Studies, Vol. 21 No. 3, pp. 39-53. https://doi.org/10.1108/01443589410065659
Publisher
:MCB UP Ltd
Copyright © 1994, MCB UP Limited