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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics
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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics Hardcover - 1996

by J. Daniel Hammond


From the publisher

Focusing on the period of Milton Friedman's collaboration with Anna J. Schwartz, from 1948 to 1991, 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. Drawing extensively on unpublished materials, Professor Hammond's treatment offers new insights on Milton Friedman's attempts to settle debates with his critics and his eventual recognition of the methodological impediments.

From the rear cover

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 Drawing extensively on unpublished materials, Professor Hammond's treatment offers new insights on Friedman's attempts to settle debates with his critics and his eventual recognition of the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.

Details

  • Title Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics
  • Author J. Daniel Hammond
  • Binding Hardcover
  • Edition First edition
  • Pages 250
  • Volumes 1
  • Language ENG
  • Publisher Cambridge University Press, Cambridge, United Kingdom
  • Date 1996-03-29
  • Illustrated Yes
  • ISBN 9780521552059 / 0521552052
  • Weight 1.03 lbs (0.47 kg)
  • Dimensions 9.23 x 6.24 x 0.76 in (23.44 x 15.85 x 1.93 cm)
  • Library of Congress subjects Business cycles, Money
  • Library of Congress Catalog Number 95019324
  • Dewey Decimal Code 330.157
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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics (Historical Perspectives on Modern Economics)

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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics
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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics

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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics
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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics

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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics (Historical...
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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics (Historical Perspectives on Modern Economics)

by J. Daniel Hammond

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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics (Historical Perspectives on Modern Economics)

by J. Daniel Hammond

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by J. Daniel Hammond

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Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics

by J. Daniel Hammond

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