IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-06284-3_8.html
   My bibliography  Save this book chapter

Comments on the Paper by Alan Budd, Sean Holly, Andrew Longbottom and David Smith

In: Monetarism in the United Kingdom

Author

Listed:
  • Anna J. Schwartz

Abstract

Of the three sections comprising the paper, the first is of no applied economic value. It is concerned with definitions of who is a monetarist and who is not a monetarist. The discussion strikes me as scholastic and sterile. Every one of the issues on which opinion is said to be divided could be settled by empirical evidence. Why should we rely on models that ‘can show that exchange-rate targets are superior to money-supply targets as a method of controlling inflation’? If there is evidence that manipulation of exchange rates by monetary authorities has been successful in controlling inflation, that is the citation the paper should offer. I do not know why ‘views on the relative sizes of the interest elasticity of demand and the income elasticity of demand for money provide an important distinction between monetarism and non-monetarism’. There should not be ‘views’. There should be evidence.

Suggested Citation

  • Anna J. Schwartz, 1984. "Comments on the Paper by Alan Budd, Sean Holly, Andrew Longbottom and David Smith," Palgrave Macmillan Books, in: Brian Griffiths & Geoffrey E. Wood (ed.), Monetarism in the United Kingdom, pages 129-136, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-06284-3_8
    DOI: 10.1007/978-1-349-06284-3_8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-06284-3_8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.