monetarism

Publication date: 29 Mar 2018 | Publication type: NIESR Discussion Paper | Theme: Macroeconomics | Authors: Farmer, R | JEL classification: E3, E4 | NIESR discussion paper number: 491
I review the contribution and influence of Milton Friedman’s 1968 presidential address to the American Economic Association. I argue that Friedman’s influence on the practice of central banking was profound and that his argument in favour of monetary rules was responsible for thirty years of low...