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July/August 2010, 
Vol. 92, No. 4
Posted 2010-07-01

New Monetarist Economics: Methods

by Stephen Williamson and Randall Wright

This article articulates the principles and practices of New Monetarism, the authors’ label for a recent body of work on money, banking, payments, and asset markets. The authors first discuss methodological issues distinguishing their approach from others: New Monetarism has something in common with Old Monetarism, but there are also important differences; it has little in common with Keynesianism.