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MIT and Money

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  • Perry Mehrling

Abstract

The Treasury-Fed Accord of 1951 and the subsequent rebuilding of private capital markets, first domestically and then globally, provided the shifting institutional background against which thinking about money and monetary policy evolved within the MIT economics department. Throughout that evolution, a constant, and a constraint, was the conception of monetary economics that Paul Samuelson had himself developed as early as 1937, a conception that informed the decision to bring in Franco Modigliani in 1962, as well as Duncan Foley and Miguel Sidrauski in 1965.

Suggested Citation

  • Perry Mehrling, 2014. "MIT and Money," History of Political Economy, Duke University Press, vol. 46(5), pages 177-197, Supplemen.
    • Handle: RePEc:hop:hopeec:v:46:y:2014:i:5:p:177-197
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    Cited by:

    1. Florin Bilbiie & Xavier Ragot, 2021. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 71-95, July.
    2. repec:hal:spmain:info:hdl:2441/j75mfllkr89c8aod1nr586ksc is not listed on IDEAS
    3. Robert W. Dimand & Harald Hagemann, 2019. "Macroeconomic Dynamics at the Cowles Commission from the 1930s to the 1950s," Cowles Foundation Discussion Papers 2196, Cowles Foundation for Research in Economics, Yale University.
    4. repec:spo:wpmain:info:hdl:2441/j75mfllkr89c8aod1nr586ksc is not listed on IDEAS

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    Keywords

    MIT; monetary economics;

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