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BPEA and Monetary Policy over Fifty Years

Author

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  • Alan S. Blinder

    (Princeton University)

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.

Suggested Citation

  • Alan S. Blinder, 2021. "BPEA and Monetary Policy over Fifty Years," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 52(1 (Spring), pages 231-250.
    • Handle: RePEc:bin:bpeajo:v:52:y:2021:i:2021-01:p:231-250
    as

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    File URL: https://www.brookings.edu/articles/fifty-years-of-brookings-papers-contributions-to-macroeconomics-and-policy/
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