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Whatever Became of the Monetary Aggregates?

Published online by Cambridge University Press:  26 March 2020

Charles Goodhart
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Extract

My title intentionally harks back to Maurice Peston's slim, but excellent, 1980 book, entitled Whatever Happened to Macro-economics. In this book, a compilation of three lectures, Maurice asks how much then remained of traditional Keynesian macroeconomics in the aftermath of the monetarist counter-revolution, and of the development of Lucasian rational expectations. Maurice was much more impressed by the new contributions of the rational expectations school than he was of those by the more traditional monetarists.

Type
Articles
Information
National Institute Economic Review , Volume 200 , 01 April 2007 , pp. 56 - 61
Copyright
Copyright © 2007 National Institute of Economic and Social Research

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Footnotes

Adapted from the Peston Lecture in honour of Maurice, Lord Peston, delivered at Queen Mary College, London, on 28 February, 2007.

References

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