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- W3087915387 abstract "The aim of this paper is to compare the visions held by two eminent monetarist economists, M. Friedman and K. Brunner, on the development prospects of monetarism within the macroeconomics discipline. Brunner, jointly with A. Meltzer, strived at constructing a model competing with the IS-LM model. By contrast, when invited to elaborate on the broader theoretical framework of monetarism, Friedman had no qualms to use the IS-LM model. In the first part of this paper, we summarize Friedman’s “Theoretical Framework” paper, Brunner and Meltzer’s reaction to it, and Friedman’s response. In the second part, we study the commonalities and differences between Friedman’s and Brunner’s approaches. In the third part, we summarize and assess the Brunner–Meltzer model. More general observations are offered in the conclusion." @default.
- W3087915387 created "2020-10-01" @default.
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- W3087915387 date "2022-01-01" @default.
- W3087915387 modified "2023-09-27" @default.
- W3087915387 title "Brunner versus Friedman: Diverging Aspirations for the Monetarist Project" @default.
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- W3087915387 doi "https://doi.org/10.7551/mitpress/13840.003.0019" @default.
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