Essays on the Political Economy of Monetary Institutions and Policy

The microfoundations revolution in macroeconomic theory has almost entirely displaced the hydraulic Keynesianism of old. Nonetheless, monetary policy in mainstream models is still primarily concerned with the appropriate estimation of changes in output and employment following the manipulation of short-term interest rates. There is little consideration of whether policy makers--or the individual agents whose behavior they are attempting to influence--possess the knowledge or incentives necessary to act in the way prescribed by the models. My dissertation addresses these concerns on three separate margins.

Author

• Salter, Alexander William

• Economics
• Free banking
• Lender of last resort
• Monetary institutions
• Monetary policy
• NGDP targeting
• Robust political economy

Identifier

hdl:1920/8836

OAI identifier oai:identifier

oai:MARS:1920/8836