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Theory and measurement : causality issues in Milton Friedman's monetary economics

Autore: J Daniel Hammond
Editore: Cambridge ; New York : Cambridge University Press, 1996.
Serie: Historical perspectives on modern economics.
Edizione/Formato:   Libro : EnglishVedi tutte le edizioni e i formati
Banca dati:WorldCat
Sommario:
Focusing on the period of Milton Friedman's collaboration with Anna J. Schwartz, this work examines the history of debates between Friedman and his critics over money's causal role in business cycles. Professor Hammond shows that critics' reactions were grounded in two distinctive features of Friedman and Schwartz's way of doing economic analysis - their National Bureau business-cycle methods and Friedman's  Per saperne di più…
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Persona incaricata: Milton Friedman; Milton Friedman; Milton Friedman; Milton Friedman; Milton Friedman
Tipo materiale: Risorsa internet
Tipo documento: Book, Internet Resource
Tutti gli autori / Collaboratori: J Daniel Hammond
ISBN: 0521552052 9780521552059
Numero OCLC: 32509336
Descrizione: x, 238 pages : illustrations ; 24 cm.
Contenuti: 1. Theory and Measurement at the National Bureau --
2. Origins of Friedman's Marshallian Methodology --
3. Origins of the Monetary Project --
4. Critiques from Within the National Bureau --
5. Post Hoc Ergo Propter Hoc: Part I --
6. Reactions to the Monetary History --
7. Post Hoc Ergo Propter Hoc: Part II --
8. Friedman and His Critics on the Theoretical Framework --
9. The Great Depression --
10. Measurement without Measurement: Hendry and Ericsson's Critique.
Titolo della serie: Historical perspectives on modern economics.
Responsabilità: J. Daniel Hammond.
Maggiori informazioni:

Abstract:

Focusing on the period of Milton Friedman's collaboration with Anna J. Schwartz, this work examines the history of debates between Friedman and his critics over money's causal role in business cycles. Professor Hammond shows that critics' reactions were grounded in two distinctive features of Friedman and Schwartz's way of doing economic analysis - their National Bureau business-cycle methods and Friedman's Marshallian methodology. With the postwar dominance of Cowles Commission methods and Walrasian methodology, Friedman and Schwartz's monetary economics appeared to contemporary critics to be "measurement without theory." Drawing extensively on unpublished materials, Professor Hammond's treatment offers new insights on Friedman's attempts to settle debates with his critics and his eventual recognition of the methodological impediments. The book will interest monetary economists and macroeconomists, as well as historians of economics and methodologists.

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