In order to promote the exchange of ideas and to support its own research capacity, the Oesterreichische Nationalbank regularly invites internationally renowned economists for short guest professorships. This year, from June 12 -14 2006, David Laidler gave three public lectures on topics related...

The debate about Canadian-U.S. monetary integration is surveyed. The choice is among overall monetary orders,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada's recent economic performance under inflation targets, and arguments...

Mayer über Monetarismus: Anmerkungen aus britischer Sicht Ich habe an Mayers Aufsatz substantiell wenig zu bemängeln. Allerdings werden in verschiedenen Ländern unterschiedliche Seiten des Monetarismus hervorgehoben. Meine Anmerkungen beziehen sich auf den Monetarismus aus britischer Sicht....

Gewisse Aspekte des Monetarismus um 1970 – aus der Sicht von 1994 Aus der Sicht von 1994 war der Monetarismus des Jahres 1970 nicht annähernd eine so homogene und in sich geschlossene Doktrin, wie dies der Fall zu sein schien. Drei unterschiedliche Ansätze zwischen den Hauptproponenten der...

The Fisher relation played a very different role in debates surrounding the Great Depression and the more recent Great Recession. This paper explores some of these differences, and suggests an explanation for them derived from a sketch of the idea's evolution between the two events, thus...

[Eliminating history from economic thought] Formal analysis, in which maximizing agents use today's 'true' model of the economy to form expectation upon which they then base their behaviour, trivializes the role of the future in economic life and ignores the possibility that the past's models,...

The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from Adam Smith's ideas about the invisible hand, was a major...

Specific ideas about the Fisher relation between real and nominal interest rates and more general ideas about the nature of the central bank's duty to support the financial system in times of crisis were important to the Monetarist re-assessment of the causes of the Great Depression and what...

Milton Friedman's contributions to and influence on macroeconomics are discussed, beginning with his work on the consumption function and the demand for money, not to mention monetary history, which helped to undermine the post World War 2 Keynesian consensus in the area. His inter-related...