Premium
DISTRIBUTIVE CONFLICT AND MONETARY POLICY
Author(s) -
HAVRILESKY THOMAS
Publication year - 1990
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.1990.tb00590.x
Subject(s) - economics , distributive property , monetary policy , monetary theory , public choice , monetary hegemony , macroeconomics , monetarism , monetary economics , politics , political science , mathematics , pure mathematics , law
This paper develops a public choice theory of monetary policy and compares it with political‐macroeconomic outcomes theory. The paper develops support for the public choice theory from recent historical evidence. It then employs this theory to explain the difficulty of effecting monetary reform and, in the absence of reform, the difficulty of implementing sustained periods of monetary restraint.