The Monetary Mystery of the last Decade
Por Mario Teijeiro
Serie de Documentos de Trabajo. Junio de 2010.
There is a feeling that the wisdom of monetarism has vanished during the last decade. Exceptional interventions of the Federal Reserve (FED) and the European Central Bank (ECB) have barely avoided deflation and have achieved delayed and modest growth. The absence of a solid monetarist explanation has been notorious.