A Rehabilitation of Monetary Policy in the 1950 ’ s

@inproceedings{Brunner2003ARO,
  title={A Rehabilitation of Monetary Policy in the 1950 ’ s},
  author={Karl M. Brunner and Charles W. Calomiris and David C. Wheelock},
  year={2003}
}
American monetary policy in the 1950’s has typically not been judged favorably. Monetarists such as Milton Friedman (1960), Karl Brunner and Allan H. Meltzer (1964), and Charles W. Calomiris and David C. Wheelock (1998) criticize the Federal Reserve for stopand-go policies and for a mistaken focus on free reserves. Keynesians such as Alan S. Blinder and Stephen M. Goldfeld (1976) argue that the Federal Reserve targeted output below the natural rate and therefore unnecessarily restrained output… CONTINUE READING
Highly Cited
This paper has 37 citations. REVIEW CITATIONS

References

Publications referenced by this paper.
Showing 1-5 of 5 references

A program for monetary stability

Friedman, Milton
Speech at the Stern School of Business, New York University, • 1997

“ Was the Great Depression a Watershed for American Monetary Policy ?

C. David
The Federal Reserve ’ s attachment to the free reserve concept . House Committee on Banking and Currency , 88 th Congress , 2 nd Session • 1964

“ Federal Funds : A Money Market Device

J. Edward
-1

Similar Papers

Loading similar papers…