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Friedman's Presidential Address in the Evolution of Macroeconomic Thought

N. Gregory Mankiw () and Ricardo Reis

No 24043, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This 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.

JEL-codes: E5 (search for similar items in EconPapers)
Date: 2017-11
New Economics Papers: this item is included in nep-his, nep-hpe and nep-mac
Note: EFG ME
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Published as N. Gregory Mankiw & Ricardo Reis, 2018. "Friedman's Presidential Address in the Evolution of Macroeconomic Thought," Journal of Economic Perspectives, vol 32(1), pages 81-96.

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Working Paper: Friedman's Presidential Address in the Evolution of Macroeconomic Thought (2017) Downloads
Working Paper: Friedman's presidential address in the evolution of macroeconomic thought (2017) Downloads
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