Economics, Econometrics and Finance
8 years ago

New Monetary Model Could Shape Future Economic Policies and Growth

Journal of money credit and banking
Money, Credit and the Economy.
Patrick Minford, Richard Coghlan

Paper Summary

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The article "Money, Credit and the Economy" explores the relationship between money, credit, and the economy. It discusses how money is used in macroeconomic models and presents a dynamic model of money supply. The researchers surveyed UK monetary policy since 1945 and developed a monetary model of the economy. Through simulations and estimates from 1972, they found implications for monetary policy and analysis.