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A monetary history of the United States, 1867-1960 by Anna Jacobson Schwartz, Milton Friedman

A monetary history of the United States, 1867-1960 Anna Jacobson Schwartz, Milton Friedman ebook
Format: djvu
ISBN: 0691041474, 9780691041476
Publisher: PUP
Page: 891

Milton Friedman and Anna Schwarz (1963), A Monetary History of the United States, 1867-1960 (Princeton: Princeton University Press). Of thought which have sustained a debate for a full 50 years (Friedman published his "A Monetary History of the United States 1867-1960" book in 1963). It is predicated on a Monetarist theory of money, in which, to quote the Godfather, “Inflation is always and everywhere a monetary phenomenon” (Milton Friedman, A Monetary History of the United States 1867-1960). Economic history were generally marked by widespread bank runs as depositors lost confidence in large segments of the banking system.2 Such was the case in the Panics of 1837, 1857, 1873, 1893, and 1907. Last and least is A Monetary History of the United States, 1867 – 1960 by Milton Friedman and Anna J. Our attention is focused primarily on understanding two fundamental observations: (i) the rise and fall of Friedman, Milton and Schwartz, Anna J. A Monetary History of the United States, 1867-1960. To her credit, she does acknowledge earlier in the piece the work of Milton Friedman and Anna Schwartz whose “A Monetary History of the United States, 1867-1960” put the blame squarely on monetary policy. Depositors withdrew funds and hoarded cash, .. Princeton, NJ: Princeton University Press, 1971. Parameter drifting in the Taylor rule that deter- mines monetary policy. Then, we use the results of our estimation to examine, through the lens of the model, the recent monetary policy history of the United States.