The Forecasts of Other Monetarists

Gordon Pepper
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Gordon Pepper: City University Business School

Chapter 12 in Inside Thatcher’s Monetarist Revolution, 1998, pp 174-191 from Palgrave Macmillan

Abstract: Abstract It was argued at the end of Chapter 4 that a strong test of the validity of monetarism was whether forecasts based on monetary analysis had a better record than forecasts using other methods. In Chapter 9 only the Greenwell predictions and the letters from the Liverpool Six were advanced as evidence. It might be thought that other monetarist predictions would also have been cited, in particular those of individual members of the Liverpool Six, especially the records of Tim Congdon, Patrick Minford and Alan Walters. The review of this other evidence has been deferred until this chapter so that Congdon’s and Minford’s different approaches could be discussed first.

Keywords: Rational Expectation; Money Growth; Target Path; Inflationary Consequence; Broad Money (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1007/978-0-333-99547-1_12

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