Abstract

ABSTRACT:

Ever since its first issue in 1970, BPEA has played a leading role in the analysis of monetary policy. This paper surveys BPEA’s many contributions to three specific areas: (1) the Phillips curve, which provides the empirical bridge between real economic activity and inflation; (2) the analysis and demise of monetarism, the doctrine that emphasized the money supply over interest rates; and (3) evaluations of and recommendations for actual monetary policy in the United States, which began in the first BPEA issue and continues to this day. BPEA has played a dominant (though not monopoly) role in each of these areas.

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Additional Information

ISSN
1533-4465
Print ISSN
0007-2303
Pages
pp. 231-250
Launched on MUSE
2022-01-27
Open Access
No
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