2007 | OriginalPaper | Buchkapitel
Introduction
verfasst von : John McCombie, Carlos Rodríguez González
Erschienen in: Issues in Finance and Monetary Policy
Verlag: Palgrave Macmillan UK
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Money and financial issues have been studied for several centuries and have played a central role in general discussions about the functioning of economies. Nevertheless, there exists among economists, and will probably continue to exist, a fierce debate over monetary relationships. Monetarists placed money as a central determinant of economic activity, at least in the short run, while Keynesians had already rejected the classical neutrality axiom of money in both the short and long run. Today, new Keynesians reject the classical dichotomy that has been revived in, for example, real business cycle theory.