Product Description

The connection between price inflation and real economic activity has been a focus of macroeconomic research--and debate--for much of the past century. Although this connection is crucial to our understanding of what monetary policy can and cannot accomplish, opinions about its basic properties have swung widely over the years.

Today, virtually everyone studying monetary policy acknowledges that, contrary to what many modern macroeconomic models suggest, central bank actions often affect both inflation and measures of real economic activity, such as output, unemployment, and incomes. But the nature and magnitude of these effects are not yet understood.

In this volume, Robert M. Solow and John B. Taylor present their views on the dilemmas facing U.S. monetary policymakers. The discussants are Benjamin M. Friedman, James K. Galbraith, N. Gregory Mankiw, and William Poole. The aim of this lively exchange of views is to make both an intellectual contribution to macroeconmics and a practical contribution to the solution of a public policy question of central importance.

Product Details

• Amazon Sales Rank: #520904 in Books
• Published on: 1999-01-30
• Original language: English
• Number of items: 1
• Binding: Paperback
• 136 pages

Book Info
Presents the authors views on the dilemmas facing U.S. monetary policymakers. The aim is designed to make both an intellectual contribution to macroeconomics and a practical contribution to the solution of public policy question of central importance. Softcover. DLC: Monetary policy--U.S.--Congresses.

About the Author
Benjamin M. Friedman is William Joseph Maier Professor of Political Economy at Harvard University.

Customer Reviews

fruitful and timely discussion
"Inflation, Unemployment, and Monetary Policy" is one of the most serious problem in the developed countries, especially my country Japan, which is suffering a severe unemployment problem for a long recession. Because of the continuous Government's spending policy. Japanese fiscal situation is deteriorated, so japanese economy's last hope is a monetary poicy. At that time, reading this exciting book and studying excellent opinions of 6 notable economists are truly fruitful. In this book, 6 economists make a poweful and exciting discussion...of course, there is no perfect solution...But, I believe that I can make a firm basis for thinking this severe problem.