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The Monetarist Policy Debate: An Informal Survey

Author

Listed:
  • Thomas Mayer

    (Department of Economics, University of California Davis)

Abstract
This paper surveys the monetarist position on various aspects of American monetary policy in an informal way and provides the personal reactions of a participant observer in this debate. It emphasizes the intellectual milieu in which monetarism emerged, the background factors that facilitated that emergence, and the relation of monetarism both to ideology and to current thinking about monetary policy. Rather than focus on whether the monetarists were right or wrong, it evaluates some aspects of the effectiveness with which the debate was conducted.

Suggested Citation

  • Thomas Mayer, 2003. "The Monetarist Policy Debate: An Informal Survey," Working Papers 299, University of California, Davis, Department of Economics.
    • Handle: RePEc:cda:wpaper:299
    as

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    File URL: https://repec.dss.ucdavis.edu/files/Uq2AYjvosDYDC1vqmYePrncJ/03-9.pdf
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    References listed on IDEAS

    as
    1. McCallum, Bennett T, 1995. "Two Fallacies Concerning Central-Bank Independence," American Economic Review, American Economic Association, vol. 85(2), pages 207-211, May.
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    7. Karl Brunner & Allan H. Meltzer, 1964. "Some Further Investigations Of Demand And Supply Functions For Money," Journal of Finance, American Finance Association, vol. 19(2), pages 240-283, May.
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    More about this item

    Keywords

    monetarism; monetarist policy; Friedman; Brunner; Meltzer;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925

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