Friedman's presidential address was about ‘The role of monetary policy’. Its famous discussion of inflation–unemployment interrelationships was subservient to this broader topic. The program it promoted influenced monetary policy in the 1970s and early 1980s with mixed results, but enough of it survived to be a clearly visible influence on today's inflation-targeting regimes.
You are not authenticated to view the full text of this chapter or article.
Get access to the full article by using one of the access options below.
Pay to Access Content (PDF download and unlimited online access)