BPEA and Monetary Policy over Fifty Years

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...

Full description

Saved in:
Bibliographic Details
Published in:Brookings papers on economic activity 2021-04, Vol.2021 (1), p.231-250
Main Author: BLINDER, ALAN S.
Format: Article
Language:English
Subjects:
Panel on Fifty Years of BPEA’s Contributions to Macroeconomics and Policy
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary: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.
ISSN:0007-2303
1533-4465
1533-4465
DOI:10.1353/eca.2021.0004