Journal of money, credit and banking, 2015-02, Vol.47 (1), p.99-121
2015
Details
- Autor(en) / Beteiligte
- Titel
- In Old Chicago: Simons, Friedman, and the Development of Monetary-Policy Rules
- Ist Teil von
- Journal of money, credit and banking, 2015-02, Vol.47 (1), p.99-121
- Ort / Verlag
- Columbus: Blackwell Publishing Ltd
- Erscheinungsjahr
- 2015
- Link zum Volltext
- Quelle
- EBSCOhost Business Source Ultimate
- Beschreibungen/Notizen
- This paper examines the different policy rules proposed by Henry Simons, who, beginning in the mid-1930s, advocated a price-level stabilization rule, and by Milton Friedman, who, beginning in the late-1950s, advocated a rule that targeted a constant growth rate of the money supply. Although both rules shared the objective of eliminating the policy uncertainty emanating from discretion, they differed because of the different views of Simons and Friedman about the stability of secular relationships. Simons' rule relates to modern rules that emphasize the pursuit of price stability as representing optimal monetary policy.
- Sprache
- Englisch
- Identifikatoren
- ISSN: 0022-2879eISSN: 1538-4616DOI: 10.1111/jmcb.12170Titel-ID: cdi_proquest_miscellaneous_1660030885
- Format
- –
- Schlagworte
- B22, E52, Economists, Federal Reserve monetary policy, Friedman, Milton, Growth rate, Henry Simons, Illinois, Milton Friedman, Monetary policy, monetary-policy rules, Money supply, Price stability, Price stabilization, Secularism, Simons, Henry, Stabilization policy, Studies, U.S.A, Uncertainty