Harris Dellas, George Tavlas, 05 September 2019

Milton Friedman shaped key ideas in monetary theory and policy. This column argues that Lloyd Mints – a colleague of Friedman at Chicago during the formative years of Friedman’s monetarist views – made important, original contributions in these areas. Mints interacted extensively with Friedman, and his contributions appear to have influenced the development of Friedman’s monetary framework. 

Stephen Cecchetti, Kim Schoenholtz, 19 August 2016

Helicopter money is not just another version of unconventional monetary policy. Using simple central bank and government balance sheets, this column explains how helicopter money today is different from what Milton Friedman imagined back in 1969 – it is expansionary fiscal policy financed by central bank money.

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