Journal ArticleDOI
Keynes and the Quantity Theory: A Comment on The Friedman-Meiselman CMC Paper: Rejoinder
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This article is published in The Review of Economics and Statistics.The article was published on 1964-11-01. It has received 11 citations till now. The article focuses on the topics: Quantity theory of money.read more
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The Rise and Fall of a Policy Rule: Monetarism at the St. Louis Fed, 1968-1986
Rik Hafer,David C. Wheelock +1 more
TL;DR: The authors traces the evolution of monetary policy research at the Federal Reserve Bank of St. Louis as it moved from the identification of long-run relationships between money and economic activity toward short-run policy analysis.
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Fiscal Policy in Macro Theory: A Survey and Evaluation
TL;DR: In the early 1970s, rational expectations of agents expressing concern for future generations became a major focus on macroeconomic debates as discussed by the authors, and the idea of rational expectations encouraged the revival of an idea originally pondered by Ricardo, which reemphasized the notion of crowding out of private capital formation associated with the financing of a budget deficit.
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IS-LM and Monetarism
TL;DR: Friedman et al. as discussed by the authors explored the views of two principal spokesmen for monetarism: Milton Friedman and the team of Karl Brunner and Allan Meltzer, and concluded that the IS-LM framework limits monetary influence too narrowly, essentially to the interest elasticity of money demand, and defines investment in an excessively narrow fashion.
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The Contributions of Milton Friedman to Economics
TL;DR: Friedman was one of the great intellectuals of the 20th century because of his major influence on how a broad public understood the Depression, the Fed's stop-go monetary policy of the 1970s, flexible exchange rates, and the ability of market forces to advance individual welfare as discussed by the authors.
ReportDOI
Monetary vs. Fiscal Policy Effects: A Review of the Debate
TL;DR: In this paper, the authors reviewed empirical findings, econometric issues, and theoretical results bearing upon the "monetary vs fiscal policy" debate that began with the 1963 Friedrnan-Meiselman study and concluded that an open-market increase in the money stock has a stimulative effect on aggregate demand.