Revival of Legacy of Tooke and Gibson: Implications for Monetary Policy
The monetary policy rules used by central banks these days are based on the assumption that inflation could be reduced by increasing interest rate. On contrary, Tooke (1774-1858), the forefather of monetary economics, was of the view that the relationship between interest rate and inflation should b...
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| Format: | Article |
| Language: | English |
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Sciendo
2015-05-01
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| Series: | Journal of Central Banking Theory and Practice |
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| Online Access: | https://doi.org/10.1515/jcbtp-2015-0008 |