Comments on the Symposium on Interest and Prices

Woodford, Michael

The papers prepared for this symposium cover a great deal of ground. It is a pleasure to be able to respond to them, as this provides an opportunity to try to clarify some of the aims of my book (Woodford 2003) that may have been insufficiently clear in the original work. But I shall have to restrict my attention to only a few of the most important issues raised in the various papers. I shall consider three classes of issues in particular: the methodology adopted in the book, the role of “cashless” models, and the connection between my work and the Wicksellian tradition.


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Journal of the History of Economic Thought

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Cambridge University Press
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November 26, 2013