What do we know about monetary policy that Friedman did not know? (English)

This paper offers a personal review of the current state of knowledge on monetary policy. In a nutshell, what Friedman knew-have survived, but that modern monetary policy departs in some important ways from older principles? The older wisdom that monetary policy determines inflation in the long run but can have systematic shorter run effects has survived a major challenge. Most of the new ideas stem from the recognition of the crucial role of expectations...

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Author

Wyplosz,Charles;
Document Date
2009/01/01
Document Type
Working Paper (Numbered Series)
Report Number
57762
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2010/12/09
Disclosure Status
Disclosed
Doc Name
What do we know about monetary policy that Friedman did not know?
Keywords
monetary policy

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Citation

Wyplosz,Charles.

What do we know about monetary policy that Friedman did not know? (English). Commission on growth and development working paper ; no. 63 Washington, DC: World Bank. http://documents.worldbank.org/curated/en/773021468337216347

What do we know about monetary policy that Friedman did not know? (English)

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