Money and Monetary Policy: An Essay in Honor of Darryl Francis

Allan H. Meltzer

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Monetary Policy and Economic Impact Economic Theory and Policy Economic theories and models

Abstract

The author discusses how Darryl Francis took a leadership role by encouraging the St. Louis monetarist tradition, when it was scorned and derided, by pointing to the need for more restrictive monetary policy in the late 1960s and by continuing to make the case for lower inflation during his service on the FOMC and as president of St. Louis Fed.

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References

1973The world in depression, 1929-1939 2003The quest for prosperity without inflation 1968Monetary and Fiscal Actions: A Test of Their Relative Importance in Economic Stabilization 2002Direct effects of base money on aggregate demand: theory and evidence 2001The Transmission Process 2001Monetary Policy in the Euro Area: Strategy and Decision-Making at the European Central Bank 1930The Stock Market Crash--And After.1986Monetary and Fiscal Actions: A Test of Their Relative Importance in Economic Stabilization

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