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Open AccessJournal ArticleDOI

Money and Income: Post Hoc Ergo Propter Hoc?

James Tobin
- 01 May 1970 - 
- Vol. 84, Iss: 2, pp 301-317
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TLDR
An ultra-Keyniesian model, 303 as discussed by the authors, and a Friedman model, 310, were used to compare timing implications, and they showed that timing implications are strongly correlated.
Abstract
An ultra-Keyniesian model, 303. — A Friedman model, 310. — Comparisons of timing implications, 314.

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Journal ArticleDOI

Monetary Aggregates and Output

TL;DR: Finn Kydland et al. as discussed by the authors presented a working paper on monetary aggregates and output in the US economy, which was published by the Federal Reserve Bank of Cleveland.
Journal ArticleDOI

Friedman's Theoretical Framework

TL;DR: This paper showed that Friedman's long-run quantity theory propositions are only applicable to economies where money is the sole exogenous nominal magnitude, and that the model has strange inconsistencies and implications.
Book ChapterDOI

Chapter 24 – Implementation of Monetary Policy: How Do Central Banks Set Interest Rates?☆

TL;DR: In this paper, the authors present a model of the overnight interest rate setting process incorporating several key features of current monetary policy practice, including in particular reserve averaging procedures and a commitment, either explicit or implicit, by the central bank to lend or absorb reserves in response to differences between the policy interest rate and the corresponding target.
Book

A History of Macroeconomics from Keynes to Lucas and Beyond

TL;DR: De Vroey et al. as discussed by the authors retraced the history of macroeconomics from Keynes's General Theory to the present, focusing on the contrast between a Keynesian era and a Lucasian -or dynamic stochastic general equilibrium (DSGE) era, each ruled by distinct methodological standards.