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Whither monetarism?

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  • Scott Sumner

Abstract

This article explores the changing fortunes of different approaches to monetary policy, which are linked to what is happening to inflation at the time. The author discusses ways in which monetarism might be revived, and offers some thoughts on inflationary prospects for the 2020s.

Suggested Citation

  • Scott Sumner, 2022. "Whither monetarism?," Economic Affairs, Wiley Blackwell, vol. 42(2), pages 275-287, June.
    • Handle: RePEc:bla:ecaffa:v:42:y:2022:i:2:p:275-287
    DOI: 10.1111/ecaf.12531
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    References listed on IDEAS

    as
    1. Friedman, Milton, 1975. "25 Years after the Rediscovery of Money: What Have We Learned? Discussion," American Economic Review, American Economic Association, vol. 65(2), pages 176-179, May.
    2. Nelson, Edward & Schwartz, Anna J., 2008. "The impact of Milton Friedman on modern monetary economics: Setting the record straight on Paul Krugman's "Who was Milton Friedman?"," Journal of Monetary Economics, Elsevier, vol. 55(4), pages 835-856, May.
    3. Svensson, Lars-E-O, 2001. "The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 19(S1), pages 277-312, February.
    4. Beckworth, David, 2017. "Permanent versus temporary monetary base Injections: Implications for past and future Fed Policy," Journal of Macroeconomics, Elsevier, vol. 54(PA), pages 110-126.
    5. Milton Friedman & Anna J. Schwartz, 1963. "A Monetary History of the United States, 1867–1960," NBER Books, National Bureau of Economic Research, Inc, number frie63-1.
    6. Beckworth, David, 2017. "Permanent versus temporary monetary base Injections: Implications for past and future Fed Policy," Working Papers 04152, George Mason University, Mercatus Center.
    7. Tim Congdon, 2014. "What Were the Causes of the Great Recession?," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 15(2), pages 1-32, April.
    8. Nelson, Edward, 2020. "Milton Friedman and Economic Debate in the United States, 1932–1972, Volume 2," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226684895, April.
    9. Nelson, Edward, 2020. "Milton Friedman and Economic Debate in the United States, 1932–1972, Volume 1," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226683775, April.
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