Milton Friedman, Robert E. Lucas, Jr. and Edmund S. PhelpsHoward R. Vane, Chris Mulhearn This groundbreaking series brings together a critical selection of key papers by the Nobel Memorial Laureates in Economics that have helped shape the development and present state of economics. The editors have organised this comprehensive series by theme and each volume focuses on those Laureates working in the same broad area of study. The careful selection of papers within each volume is set in context by an insightful introduction to the Laureates' careers and main published works. This landmark series will be an essential reference for scholars throughout the world. |
Contents
Milton Friedman 19122006 | 3 |
University of Chicago | 97 |
Milton Friedman 1968 The Role of Monetary Policy American | 149 |
Copyright | |
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Common terms and phrases
actual adjustment aggregate analysis assumptions average balances bank behavior BUSINESS CYCLES capital constant consumption controls cost countries course currency cycle cyclical decline demand determined deviations direct discussion economic effect equal equation equilibrium estimate evidence example exchange rates existence expected experience firms fixed flexible exchange rates forces Friedman function future given growth hence higher hold hypothesis implies important income increase independent inflation initial interest internal investment labor less Lucas mean measured monetary monetary policy move movements natural nominal observed optimal output particular path period Phillips curve political Positive Economics possible predictions present price level problem production quantity rate of change ratio reason reference relation relative result rise role rule stability standard supply suppose tend theory tion trade unemployment United utility variables wage