351,195 research outputs found
Who is Afraid of the Friedman Rule?
No full textIn this paper, we explore the connection between optimal monetary policy and heterogeneity among agents. We study a standard monetary economy with two types of agents in which the stationary distribution of money holdings is non-degenerate. Sans type-specific fiscal policy, we show that the zero-nominal-interest rate policy (the Friedman rule) does not maximize type-specific welfare; it may not maximize aggregate social welfare either. Indeed, one or, more surprisingly, both types may benefit if the central bank deviates from the Friedman rule. Our results suggest a positive explanation for why central banks around the world do not implement the Friedman rule.Friedman rule; monetary policy; money-in-the-utility-function
Who is Afraid of the Friedman Rule?
No full textIn this paper, we explore the connection between optimal monetary policy and heterogeneity among agents. We study a standard monetary economy with two types of agents in which the stationary distribution of money holdings is non-degenerate. Sans type-specific fiscal policy, we show that the zero-nominal-interest rate policy (the Friedman rule) does not maximize type-specific welfare; it may not maximize aggregate social welfare either. Indeed, one or, more surprisingly, both types may benefit if the central bank deviates from the Friedman rule. Our results suggest a positive explanation for why central banks around the world do not implement the Friedman rule.Friedman rule, monetary policy, money-in-the-utility-function
Letter from Samuel L. Friedman to Cyrus S. Avery, dated April 8, 1955
No full textLetter from Samuel L. Friedman to Cyrus S. Avery, dated April 8, 1955 supplying Avery with a report on the Los Angeles water projectThe Cyrus S. Avery Collection chronicles the life and times of Cyrus Stevens Avery. Known as the 'Father of Route 66', Avery served in government positions and elected offices as well as in highway associations that led him to have an influential impact on the planning and development of the initial American highway system. Through Avery's involvement with the City of Tulsa, Oklahoma and his own agricultural interests, the collection also documents a growing city and its' rural life in the early twentieth century
The impact of Milton Friedman on modern monetary economics: setting the record straight on Paul Krugman’s 'Who Was Milton Friedman?
No full textPaul Krugman’s essay “Who Was Milton Friedman?” seriously mischaracterizes Friedman’s economics and his legacy. In this paper we provide a rejoinder to Krugman on these issues. In the course of setting the record straight, we provide a self-contained guide to Milton Friedman’s impact on modern monetary economics and on today’s central banks. We also refute the conclusions that Krugman draws about monetary policy from the experiences of the United States in the 1930s and of Japan in the 1990s.Monetary policy - United States ; Keynesian economics ; Friedman, Milton
Milton Friedman and U.S. monetary history: 1961-2006
No full textThis paper brings together, using extensive archival material from several countries, scattered information about Milton Friedman’s views and predictions regarding U.S. monetary policy developments after 1960 (i.e., the period beyond that covered by his and Anna Schwartz’s Monetary History of the United States). I evaluate these interpretations and predictions in light of subsequent events.Federal Reserve System - History ; Friedman, Milton ; Economic history
Milton Friedman and U.S. monetary history: 1961-2006
No full textThis paper, using extensive archival material from several countries, brings together scattered information about Milton Friedman's views and predictions regarding U.S. monetary policy developments after 1960 (i.e., the period beyond that covered by his and Anna Schwartz's Monetary History of the United States). The author evaluates these interpretations and predictions in light of subsequent events.Friedman, Milton ; Federal Reserve System - History ; Economic history
Recommended from our members
Friedman's Essay Panel
No full textA panel of economists review and discuss Friedman's essay and its impact.Salem Cente
Primer recital de Ignaz Friedman en temporada del Teatro Colón 1936
No full text- Gavota (C. W. Gluck - J. Brahms)
- Ballet (C. W. Gluck - Friedman)
- Pastoral y Capricho (Scarlatti)
- Tocata y fuga en Re (J. S. Bach - Taussig)
- Sonata Op. 90 en Mi menor (L. van Beethoven)
- Escocesas (L. van Beethoven - Friedman)
- Valse Op. 42 (F.Medellín. Nota: Pertenece al archivo privado de Ignacio Isaza MartínezBogotá. Teatro Coló
The Impact of Milton Friedman on Modern Monetary Economics: Setting the Record Straight on Paul Krugman's "Who Was Milton Friedman?"
No full textPaul Krugman's essay "Who Was Milton Friedman?" seriously mischaracterizes Friedman's economics and his legacy. In this paper we provide a rejoinder to Krugman on these issues. In the course of setting the record straight, we provide a self-contained guide to Milton Friedman's impact on modern monetary economics and on today's central banks. We also refute the conclusions that Krugman draws about monetary policy from the experiences of the United States in the 1930s and of Japan in the 1990s.
The Highest Form of Wisdom: A Memorial Book in Honor of Professor Saul S. Friedman (1937-2013)
No full textThis compilation of scholarship by internationally known academicians in the fields of Jewish and Holocaust history is dedicated to the memory of Saul S. Friedman, who served as professor of Jewish history at Youngstown State University in Youngstown, Ohio and was one of the architects of Holocaust and Genocide education in the United States.Twelve scholars from across the globe have participated in this project in recognition of Friedman\u27s importance to Jewish and Holocaust Studies.https://digitalcommons.wcupa.edu/cahfaculty_books/1012/thumbnail.jp
- …
