Posturas de política monetaria ante fluctuaciones de la economía: Evolución teórica caso Ecuador.

Abstract

In this paper, an investigation is made of different monetary policy stances before fluctuations in the economy from the point of view of different currents of economic thought with a review of the theoretical evolution, which can be linked in the stability and behavior of the cycle financial and economic in Ecuador. We start from the traditional content of the interventionists and the non-interventionists, with the thoughts of classic and neoclassical authors, and the thought that prices are only affected by money, we continue with the position of Keynes and the need for monetary activism. In the decade of the seventies is the beginning of the neutrality of money in which the economy is not affected by the supply of money and then in the following years is considered in the monetary rule of the economic cycle. The final part analyzes the economic crisis in which an unconventional policy stance that evolves in the area of economic reactivation comes out and mentions the use of a prudential macroeconomic policy by public financial institutions.