BPEA and Monetary Policy over Fifty Years

Alan Blinder

Brookings Papers on Economic Activity, 2021, vol. 52, issue 1 (Spring), 231-250

Abstract: Ever since its first issue in 1970, BPEA has played a leading role in the analysis of monetary policy. This paper surveys BPEA's many contributions to three specific areas: (1) the Phillips curve, which provides the empirical bridge between real economic activity and inflation; (2) the analysis and demise of monetarism, the doctrine that emphasized the money supply over interest rates; and (3) evaluations of and recommendations for actual monetary policy in the United States, which began in the first BPEA issue and continues to this day. BPEA has played a dominant (though not monopoly) role in each of these areas.

Keywords: BPEA; history; labor market research (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:bin:bpeajo:v:52:y:2021:i:2021-01:p:231-250

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