TY  - BOOK
AU  - Farmer,Roger
ED  - National Bureau of Economic Research.
TI  - The Role of Financial Policy
T2  - NBER working paper series
PY  - 2018///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - April 2018; Hardcopy version available to institutional subscribers
N2  - I review the contribution and influence of Milton Friedman's 1968 presidential address to the American Economic Association. I argue that Friedman's influence on the practice of central banking was profound and that his argument in favour of monetary rules was responsible for thirty years of low and stable inflation in the period from 1979 through 2009. I present a critique of Friedman's position that market-economies are self-stabilizing, and I describe an alternative reconciliation of Keynesian economics with Walrasian general equilibrium theory from that which is widely accepted today by most neo-classical economists
UR  - https://www.nber.org/papers/w24498
UR  - http://dx.doi.org/10.3386/w24498
ER  -