Abstract
Money, Credit and Policy covers the demand for money, the relation of money to output, the role of credit and debt, regulation of financial institutions, the influence of uncertainty and macroeconomic policy. Focusing on the relations between money and credit, and in turn their relationship to output, prices and inflation, this volume includes Meltzer’s early work on the demand for money – in which he suggested that the much-discussed instability of the demand for money arises from the use of Keynesian demand equations – as well as his recent contributions on trade, credit and intermediation.
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