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Milton Friedman and U.S. monetary history: 1961-2006

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  • Edward Nelson

Abstract

This paper brings together, using extensive archival material from several countries, scattered information about Milton Friedman’s views and predictions regarding U.S. monetary policy developments after 1960 (i.e., the period beyond that covered by his and Anna Schwartz’s Monetary History of the United States). I evaluate these interpretations and predictions in light of subsequent events.

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File URL: http://research.stlouisfed.org/wp/2007/2007-002.pdf
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Bibliographic Info

Paper provided by Federal Reserve Bank of St. Louis in its series Working Papers with number 2007-002.

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Date of creation: 2007
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Publication status: Published in Federal Reserve Bank of St. Louis Review, May/June 2007, 89(3), pp. 153-82
Handle: RePEc:fip:fedlwp:2007-002

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Keywords: Federal Reserve System - History ; Friedman; Milton ; Economic history;

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  1. Christopher J. Erceg and Andrew T. Levin, 2001. "Imperfect Credibility and Inflation Persistence," Computing in Economics and Finance 2001 19, Society for Computational Economics.
  2. repec:fip:fedlpr:y:1994:i:mar:p:1-31 is not listed on IDEAS
  3. Alan S. Blinder, 1997. "Distinguished Lecture on Economics in Government: What Central Bankers Could Learn from Academics--And Vice Versa," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 3-19, Spring.
  4. Richard G. Anderson & Kenneth A. Kavajecz, 1994. "A historical perspective on the Federal Reserve's monetary aggregates: definition, construction and targeting," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 1-31.
  5. Arthur F. Burns, 1973. "Letter on monetary policy," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 15-22.
  6. Olivier Blanchard & John Simon, 2001. "The Long and Large Decline in U.S. Output Volatility," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 32(1), pages 135-174.
  7. Michael R. Darby & William Poole & David E. Lindsey & Milton Friedman & Michael J. Bazdarich, 1987. "Recent Behavior Of The Velocity Of Money," Contemporary Economic Policy, Western Economic Association International, vol. 5(1), pages 1-33, 01.
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