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David Laidler on Monetarism

  • Michael Bordo
  • Anna J. Schwartz

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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File URL: http://www.nber.org/papers/w12593.pdf
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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
Publication status: published as Leeson, Robert (ed.) David Laidler’s Contribution to Macroeconomics. Palgrave McMillan, 2010.
Handle: RePEc:nbr:nberwo:12593
Note: ME
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  1. David E. Laidler, 1988. "Taking Money Seriously," Canadian Journal of Economics, Canadian Economics Association, vol. 21(4), pages 687713-6877, November.
  2. Hendry, David F. & Ericsson, Neil R., 1991. "Modeling the demand for narrow money in the United Kingdom and the United States," European Economic Review, Elsevier, vol. 35(4), pages 833-881, May.
  3. Laidler, David, 1981. "Monetarism: An Interpretation and an Assessment," Economic Journal, Royal Economic Society, vol. 91(361), pages 1-28, March.
  4. 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.
  5. Bordo, Michael D. & Jonung, Lars, 1990. "The long-run behavior of velocity: The institutional approach revisited," Journal of Policy Modeling, Elsevier, vol. 12(2), pages 165-197.
  6. Laidler, David, 1978. "Money and money income: An essay on the `transmission mechanism'," Journal of Monetary Economics, Elsevier, vol. 4(2), pages 151-191, April.
  7. Milton Friedman, 1959. "The Demand for Money: Some Theoretical and Empirical Results," Journal of Political Economy, University of Chicago Press, vol. 67, pages 327-327.
  8. Laidler, David, 1973. "Simultaneous Fluctuations in Prices and Output-A Business Cycle Approach," Economica, London School of Economics and Political Science, vol. 40(157), pages 60-72, February.
  9. Laidler, David E W & Parkin, J Michael, 1975. "Inflation: A Survey," Economic Journal, Royal Economic Society, vol. 85(340), pages 741-809, December.
  10. Milton Friedman, 1971. "A Theoretical Framework for Monetary Analysis," NBER Books, National Bureau of Economic Research, Inc, number frie71-1, Enero.
  11. Laidler, David, 1980. "The demand for money in the United States-- Yet again," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 12(1), pages 219-271, January.
  12. Laidler, David, 1999. "The Quantity of Money and Monetary Policy," Staff Working Papers 99-5, Bank of Canada.
  13. Laidler, David, 1988. "Some Macroeconomic Implications of Price Stickiness," The Manchester School of Economic & Social Studies, University of Manchester, vol. 56(1), pages 37-54, March.
  14. David Laidler, 2003. "Monetary Policy without Money: Hamlet without the Ghost," UWO Department of Economics Working Papers 20037, University of Western Ontario, Department of Economics.
  15. Phelps, Edmund S & Taylor, John B, 1977. "Stabilizing Powers of Monetary Policy under Rational Expectations," Journal of Political Economy, University of Chicago Press, vol. 85(1), pages 163-190, February.
  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. Laidler, David, 1984. "The 'Buffer Stock' Notion in Monetary Economics," Economic Journal, Royal Economic Society, vol. 94(376a), pages 17-34, Supplemen.
  18. David Laidler, 1966. "The Rate of Interest and the Demand for Money--Some Empirical Evidence," Journal of Political Economy, University of Chicago Press, vol. 74, pages 543-543.
  19. Buiter, Willem H, 1980. "The Macroeconomics of Dr. Pangloss: A Critical Survey of the New Classical Macroeconomics," Economic Journal, Royal Economic Society, vol. 90(357), pages 34-50, March.
  20. Laidler, D., 1991. "Price Stability and The Monetary Order," UWO Department of Economics Working Papers 9116, University of Western Ontario, Department of Economics.
  21. Laidler, David E W, 1976. "Inflation in Britain: A Monetarist Perspective," American Economic Review, American Economic Association, vol. 66(4), pages 485-500, September.
  22. 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.
  23. Laidler, David, 1973. "Monetarist Policy Prescriptions and Their Background," The Manchester School of Economic & Social Studies, University of Manchester, vol. 41(1), pages 59-71, March.
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