Book Description
The Federal Reserve Bank of Richmond presents the full text of an article entitled "The Increasing-Returns-to-Scale/Sticky-Price Approach to Monetary Analysis," by Mary G. Finn. The article was published in the Fall 1995 issue of "Economic Quarterly." Finn highlights an assessment of the increasing-returns-to-scale/sticky-price theory of the monetary transmission mechanism, which is found to be unsound as a basis for understanding the effects of monetary policy.