Friedman’s presidential address in the evolution of macroeconomic thought

Reis, Ricardo ORCID: 0000-0003-4844-9483 and Mankiw, N. Gregory (2018) Friedman’s presidential address in the evolution of macroeconomic thought. Journal of Economic Perspectives, 32 (1). 81 - 96. ISSN 0895-3309

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Abstract

This essay discusses the role of Milton Friedman’s presidential address to the American Economic Association, which was given a half century ago and helped set the stage for modern macroeconomics. We discuss where macroeconomics was before the address, what insights Friedman offered, where researchers and central bankers stand today on these issues, and (most speculatively) where we may be heading in the future.

Item Type:	Article
Official URL:	https://www.aeaweb.org/journals/jep
Additional Information:	© 2017 American Economic Association
Divisions:	Economics
Subjects:	H Social Sciences > HB Economic Theory
JEL classification:	B - Schools of Economic Thought and Methodology > B2 - History of Economic Thought since 1925 > B22 - Macroeconomics B - Schools of Economic Thought and Methodology > B3 - History of Thought: Individuals > B31 - Individuals E - Macroeconomics and Monetary Economics > E0 - General > E00 - General E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy (Targets, Instruments, and Effects)
Date Deposited:	22 Nov 2017 09:52
Last Modified:	01 Nov 2024 05:09
URI:	http://eprints.lse.ac.uk/id/eprint/85664

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