Abstract
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.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 231-250 |
| Number of pages | 20 |
| Journal | Brookings Papers on Economic Activity |
| Volume | Spring 2021 |
| DOIs | |
| State | Published - Mar 1 2021 |
All Science Journal Classification (ASJC) codes
- General Business, Management and Accounting
- Economics and Econometrics