Inflation, Unemployment, and Monetary Policy
Solow, Robert M. / Taylor, James B. / Friedman, Benjamin M.
edited and with an introduction by Benjamin M. FriedmanThe connection between price inflation and real economic activity has been a focus of macroeconomic research--and debate--for much of the past century. Although this connection is crucial to our understanding of what monetary policy can and cannot accomplish, opinions about its basic properties have swung widely over the years.Today, virtually everyone studying monetary policy acknowledges...