Introduction to "models of monetary economies II: the next generation".

Federal Reserve Bank of Minneapolis Quarterly Review, October, 2005 by Wright, Randall

Abstract

This article is a summary of the papers presented at the Models of Monetary Economies II conference, hosted in May 2004 by the Federal Reserve Bank of Minneapolis and the University of Minnesota. It focuses on several themes in the papers, including the microfoundations of monetary theory, optimal monetary policy, and the role of banking, and also overviews how the contributions . t together. Finally, the article comments on monetary theory in general--how it has evolved and where it may be headed. This article originally appeared in the International Economic Review [C] 2005 by Blackwell Publishing, www. blackwell-synergy.com.

In 1978, John Kareken and Neil Wallace of the University of Minnesota organized a conference on monetary...

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