The influence of monetarism on Federal Reserve policy during the 1980s (notice n° 389017)
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| control field | 20250119031355.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Reichart, Alexandre |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | The influence of monetarism on Federal Reserve policy during the 1980s |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2016.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 23 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | L’importance du monétarisme au sein de l’histoire de la pensée économique, notamment depuis l’attribution du prix Nobel de sciences économiques à Milton Friedman en 1976 n’est plus à démontrer, mais la question de son influence au sein des institutions économiques reste irrésolue. La littérature secondaire affirme que la Réserve fédérale a mis en œuvre une politique monétaire à partir de 1979. Cependant, selon Friedman [1984], “Though the Federal Reserve System’s rhetoric was “monetarist” the actual policy that it followed was antimonetarist”. Dans cet article, nous proposons une nouvelle interprétation à la lumière d’une analyse de données, mais également en utilisant les témoignages de Paul Volcker et en étudiant les archives de la Réserve fédérale. Nous affirmons que l’influence du monétarisme au sein de la Réserve fédérale a eu une double nature et que la politique mise en œuvre par celle-ci était clairement monétariste, mais que l’échec de cette expérience explique le fait que les monétaristes n’ont jamais considéré que leurs idées ont été appliquées. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | One can hardly ignore the influence of monetarism in the history of economic thought, at least since Milton Friedman received the Nobel Memorial Prize in Economics in 1976, but the question of its influence over the institutions’ policies remains unresolved. The secondary literature claims that the Federal Reserve implemented a monetarist policy from 1979, but according to Friedman [1984]: “Though the Federal Reserve System’s rhetoric was ‘monetarist’, the actual policy that it followed was antimonetarist”. In this paper, we provide insight into this question by using the testimonies of Paul Volcker, by studying the archives of the Federal Reserve and thanks to data analysis. We claim that the influence of monetarism on the Fed had a double nature and that the policy of the Fed was clearly a monetarist one, but the failure of this experience explains the fact that the monetarists never considered that their ideas have been implemented. JEL classification: B29, E52, E58, N12, N22 |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Réserve fédérale |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | banque centrale |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | monétarisme |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | politique monétaire |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | ciblage de la masse monétaire |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | money supply targeting |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | central banking |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | monetarism |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Federal Reserve |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | monetary policy |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Slifi, Abdelkader |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Cahiers d'économie Politique | 70 | 1 | 2016-10-03 | p. 107-150 | 0154-8344 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-cahiers-d-economie-politique-1-2016-1-page-107?lang=en&redirect-ssocas=7080">https://shs.cairn.info/revue-cahiers-d-economie-politique-1-2016-1-page-107?lang=en&redirect-ssocas=7080</a> |
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