Question

What did Kaldor and Tobin tell about monetarist

Answer 1

Kaldor and Tobin are indeed Keynesian where they completely oppose the monetarist view on the whole where they collectively got to mention that unlike monetarist, the money supply is actually endogenous to the system all in all and this means, it will automobile increase during expansion and reduce during a recession. It doesn't simply mean there's an existence of cause as well as effect relation even though there's a high amount of correlation between the two. This tells us that even though the research argues against the monetarist there's still no strong evidence to support their claims

answered by: anonymous