Draghi’s vision of economic policy is partially, but significantly, influenced by Keynes’s theory, although he explicitly affirmed that monetary policy “can become an effective, stabilising factor and contribute to collective prosperity in an independent and active way” only if monetary policy decisions are built “into a systematic and predictable strategy, based on price stability, which drives expectations and guides the economy but doesn’t shock it”.
Draghi, Mario
Lucarelli, Stefano
2015-01-01
Abstract
Draghi’s vision of economic policy is partially, but significantly, influenced by Keynes’s theory, although he explicitly affirmed that monetary policy “can become an effective, stabilising factor and contribute to collective prosperity in an independent and active way” only if monetary policy decisions are built “into a systematic and predictable strategy, based on price stability, which drives expectations and guides the economy but doesn’t shock it”.File allegato/i alla scheda:
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Draghi entry in Edward Elgar Banking Encylopedia.pdf
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