The 50th Anniversary of Milton Friedman's Presidential Address
Friday, Jan. 5, 2018 2:30 PM - 4:30 PM
- Chair: Mark Gertler, New York University
Friedman's Presidential Address in the Evolution of Macroeconomic Theory
AbstractThis essay discusses the role of Milton Friedman’s presidential address to the American Economic Association, which was given a half century ago and helped set the stage for modern macroeconomics. We discuss where macroeconomics was before the address, what insights Friedman offered, where researchers and central bankers stand today on these issues, and (most speculatively) where we may be heading in the future.
Should We Reject the Natural Rate Hypothesis?
Federal Reserve Board
Lawrence H. Summers,
- E0 - General