The Two Monetary Approaches to the Balance of Payments : Keynesian and Johnsonian

Keynesian and Johnsonian

The Two Monetary Approaches to the Balance of Payments : Keynesian and Johnsonian
This paper emphasizes the distinction between two 'monetary approaches to the balance of payments', one developed in the IMF, the other under the leadership of Harry Johnson in Chicago. The IMF approach is presented as an evolutionary development of the Kahn/Keynes multiplier model in an open economy. Johnson's approach is anti-Keynesian and... READ MORE...

Publication date: August 2001
ISBN 9781451852400
$15.00

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