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David Laidler on Monetarism

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  • Michael Bordo
  • Anna J. Schwartz

Abstract

David Laidler has been a major player in the development of the monetarist tradition. As the monetarist approach lost influence on policy makers he kept defending the importance of many of its principles. In this paper we survey and assess the impact on monetary economics of Laidler's work on the demand for money and the quantity theory of money; the transmission mechanism on the link between money and nominal income; the Phillips Curve; the monetary approach to the balance of payments; and monetary policy.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 12593.

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Date of creation: Oct 2006
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Publication status: published as Leeson, Robert (ed.) David Laidler’s Contribution to Macroeconomics. Palgrave McMillan, 2010.
Handle: RePEc:nbr:nberwo:12593

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  1. Laidler, David, 1981. "Monetarism: An Interpretation and an Assessment," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 91(361), pages 1-28, March.
  2. Phelps, Edmund S & Taylor, John B, 1977. "Stabilizing Powers of Monetary Policy under Rational Expectations," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 85(1), pages 163-90, February.
  3. Milton Friedman, 1959. "The Demand for Money: Some Theoretical and Empirical Results," NBER Books, National Bureau of Economic Research, Inc, number frie59-1.
  4. Michael D. Bordo & Lars Jonung, 1989. "The Long-Run Behavior of Velocity: The Institutional Approach Revisited," NBER Working Papers 3204, National Bureau of Economic Research, Inc.
  5. Friedman, Milton, 1970. "A Theoretical Framework for Monetary Analysis," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 78(2), pages 193-238, March-Apr.
  6. David F. Hendry & Neil R. Ericsson, 1990. "Modeling the demand for narrow money in the United Kingdom and the United States," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) 383, Board of Governors of the Federal Reserve System (U.S.).
  7. Stephen M. Goldfeld, 1976. "The Case of the Missing Money," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 7(3), pages 683-740.
  8. Laidler, David, 1980. "The demand for money in the United States-- Yet again," Carnegie-Rochester Conference Series on Public Policy, Elsevier, Elsevier, vol. 12(1), pages 219-271, January.
  9. Laidler, David, 1973. "Monetarist Policy Prescriptions and Their Background," The Manchester School of Economic & Social Studies, University of Manchester, University of Manchester, vol. 41(1), pages 59-71, March.
  10. Laidler, D., 1988. "Taking Money Seriously," UWO Department of Economics Working Papers, University of Western Ontario, Department of Economics 8804, University of Western Ontario, Department of Economics.
  11. Laidler, David, 1984. "The 'Buffer Stock' Notion in Monetary Economics," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 94(376a), pages 17-34, Supplemen.
  12. Laidler, David E W, 1976. "Inflation in Britain: A Monetarist Perspective," American Economic Review, American Economic Association, American Economic Association, vol. 66(4), pages 485-500, September.
  13. Laidler, David, 1999. "The Quantity of Money and Monetary Policy," Working Papers, Bank of Canada 99-5, Bank of Canada.
  14. Laidler, David, 1988. "Some Macroeconomic Implications of Price Stickiness," The Manchester School of Economic & Social Studies, University of Manchester, University of Manchester, vol. 56(1), pages 37-54, March.
  15. David Laidler, 2003. "Monetary Policy without Money: Hamlet without the Ghost," UWO Department of Economics Working Papers, University of Western Ontario, Department of Economics 20037, University of Western Ontario, Department of Economics.
  16. Laidler, David, 1981. "Some Policy Implications of the Monetary Approach to Balance of Payments and Exchange Rate Analysis," Oxford Economic Papers, Oxford University Press, vol. 33(0), pages 70-84, Supplemen.
  17. Buiter, Willem H, 1980. "The Macroeconomics of Dr. Pangloss: A Critical Survey of the New Classical Macroeconomics," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 90(357), pages 34-50, March.
  18. D.E.W. Laidler, 1977. "Money and Money-income: An Essay on the "Transmission Mechanism"," RBA Research Discussion Papers, Reserve Bank of Australia rdp7704, Reserve Bank of Australia.
  19. Laidler, David E W & Parkin, J Michael, 1975. "Inflation: A Survey," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 85(340), pages 741-809, December.
  20. Laidler, David, 1973. "Simultaneous Fluctuations in Prices and Output-A Business Cycle Approach," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 40(157), pages 60-72, February.
  21. Stephen M. Goldfeld, 1973. "The Demand for Money Revisited," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(3), pages 577-646.
  22. David Laidler, 1966. "The Rate of Interest and the Demand for Money--Some Empirical Evidence," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 74, pages 543.
  23. Laidler, D., 1991. "Price Stability and The Monetary Order," UWO Department of Economics Working Papers, University of Western Ontario, Department of Economics 9116, University of Western Ontario, Department of Economics.
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