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Commentary on monetary policy in the spirit of R. G. Hawtrey.
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The Fiscal Theory of the Price Level has been percolating among monetary theorists for over three decades: Eric Leeper being the first to offer a formalization of the idea, with Chris Sims and Michael Woodford …
The published version of the article is now available on the Economic Afairs website https://onlinelibrary.wiley.com/toc/14680270/2024/44/2. Here’s the abstract: This article considers the contributions of Ralph Hawtrey to monetary theory and macroeconomics, focusing on his monetary …
Last fall and early winter I posted a series of four blogposts (here, here, here, and here) about or related to Ralph Hawtrey as I was trying to gather my thoughts about an essay I …