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The 50th Anniversary of Milton Friedman's Presidential Address

Paper Session

Friday, Jan. 5, 2018 2:30 PM - 4:30 PM

Marriott Philadelphia Downtown, Liberty Ballroom Salon A
Hosted By: American Economic Association
  • Chair: Mark Gertler, New York University

The Short and Long Run Effects of Milton Friedman's Presidential Address

Robert Hall
,
Stanford University
Thomas Sargent
,
New York University

Abstract

TBD

Friedman's Presidential Address in the Evolution of Macroeconomic Theory

N. Gregory Mankiw
,
Harvard University
Ricardo Reis
,
London School of Economics

Abstract

This essay discusses the role of Milton Friedman’s presidential address to the American Economic Association, which was given a half century ago and helped set the stage for modern macroeconomics. We discuss where macroeconomics was before the address, what insights Friedman offered, where researchers and central bankers stand today on these issues, and (most speculatively) where we may be heading in the future.
Discussant(s)
Stanley Fischer
,
Federal Reserve Board
Emi Nakamura
,
Columbia University
Lawrence H. Summers
,
Harvard University
JEL Classifications
  • E0 - General