The evolution of monetary policy rules

Thomas J. Sargent

    Research output: Contribution to journalArticlepeer-review


    This article examines the evolutionary forces involved in the development of monetary policy rules over time, considering in particular how these relate to proposals made by Milton Friedman and Walter Bagehot. The lines between money and credit and between monetary and fiscal policy are given special focus.

    Original languageEnglish (US)
    Pages (from-to)147-150
    Number of pages4
    JournalJournal of Economic Dynamics and Control
    StatePublished - Dec 1 2014


    • 100% reserve requirement
    • Free banking
    • Friedman 1948 rule
    • Friedman 1960 rule

    ASJC Scopus subject areas

    • Economics and Econometrics
    • Control and Optimization
    • Applied Mathematics


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