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What was the message of Friedman

Abstract:
It is widely accepted that the importance of Friedman's Presidential Address to the American Economic Association lies in its criticism of policy based on the Phillips curve. It is argued that a reading of the text does not support such a view, and this and other considerations suggest that any such aim was far from Friedman's mind in 1968. His objective was the quite different one of making a case for policy 'rules' rather than discretion.
Publication status:
Published

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Publisher:
University of Oxford
Series:
Department of Economics Discussion Paper Series
Publication date:
2016-12-13
Paper number:
814
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Pubs id:
1143573
Local pid:
pubs:1143573
Deposit date:
2020-12-14

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