Benjamin Friedman

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Papers on the Web

In the case of all published material below, the publishers have authorized the posting of the papers on this web site.

• Learning from the Crisis: What Can Central Banks Do? January, 2010.
• "The Role of Depth in a Liberal Education", Colander and McGoldrick (eds.) Educating Economists (Cheltenham: Edward Elgar, 2009).
• "Widening Inequality Combined with Modest Growth", Challenge, 52 (May/June 2009).
  
• "Guiding Forces." Review of "Nudge: Improving Decisions about Health, Wealth and Happiness," by Richard H. Thaler and Cass R. Sunstein, in the New York Times Book Review (August 24, 2008).
• "Why a Dual Mandate is Right for Monetary Policy", International Finance, 11 (Summer 2008).
  
• "The Economic System." Schuck and Wilson (eds.), Understanding America: The Anatomy of an Exceptional Nation. New York: Public Affairs, 2008.
• "What Objectives for Monetary Policy?" Touffut (ed.), Central Banks as Economic Institutions (Cheltenham: Edward Elgar, 2008).
  
• "Monetary Policy for Emerging Market Economies: Beyond Inflation Targeting." Macroeconomics and Finance in Emerging Market Economies, 1 (March 2008)
• "FDR and the Depression: The Big Debate". The New York Review of Books, 54 (Nov 8, 2007)
  
• "What We Still Don't Know about Monetary and Fiscal Policy." Brookings Papers on Economic Activity (No. 2, 2007).
• "Capitalism, Economic Growth and Democracy." Daedalus, 136 (Summer 2007).
• "Moral Consequences of Economic Growth: The John R. Commons Lecture, 2006." American Economist, 50 (Fall 2006).
• "The Greenspan Era: Discretion, Rather Than Rules." American Economic Review, 96 (May 2006).
• "The Moral Consequences of Economic Growth." Society, 43 (January/February 2006).
• "The Moral Case for Growth" The International Economy 40 (Fall 2005)
  
• "Deficits and Debt in the Short and Long Run." Kopcke, Tootell and Triest (eds.), The Macroeconomics of Fiscal Policy. Cambridge: MIT Press, 2005.
• "What Remains from the Volcker Experiment?" Federal Reserve Bank of St. Louis, Review, 87 (March/April 2005, Part 2).
• "Tobin Replies to Woodford." Deville et al. (eds.), Issues on Monetary Policy and Theory. Frankfurt am Main: Bankakademie Verlag, 2005.
• "Bush and Kerry: A Big Divide" The New York Review of Books, 51 (October 21, 2004)
  
• "Why the Federal Reserve Should Not Adopt Inflation Targeting." International Finance, 7 (Spring 2004).
• "The LM Curve: A Not-So-Fond Farewell," (November, 2003). Also available as NBER Working Paper 10123.
• "Why Japan Should Not Adopt Inflation Targeting." Kobe Gakuin Economic Papers, 34 (December 2002).
• "What is Poverty?" The New York Review of Books, 49 (November 21, 2002)
  
• "Globalization: Stiglitz's Case," Review of Globalization and Its Discontents by Joseph E. Stiglitz in The New York Review of Books (August 15, 2002).
• "The Use and Meaning of Words in Central Banking: Inflation Targeting, Credibility and Transparency." NBER Working Paper 8972 (June, 2002).
• "Threats to Future Effectiveness of Monetary Policy." Cooper and Layard (eds.), What the Future Holds: Insights from Social Science. Cambridge: MIT Press, 2002.
• "Monetary Policy." International Encyclopedia of the Social and Behavioral Sciences. Oxford: Elsevier Science, 2001.
• "Decoupling at the Margin: The Threat to Monetary Policy from the Electronic Revolution in Banking."International Finance, 3 (July 2000).
• "Japan Now and the United States Then: Lessons from the Parallels," reprinted with permission from Japan's Financial Crisis and Its Parallels to U.S. Experience, edited by Ryoichi Mikitani and Adam S. Posen. Copyright 2000. Institute for International Economics.
• "Gore vs. Bush: The Difference," Feature Article in The New York Review of Books (October 19, 2000).
• "The Role of Interest Rates in Federal Reserve Policymaking." Kopcke and Browne (eds.), The Evolution of Monetary Policy and the Role of the Federal Reserve in the Last Third of the Twentieth Century, Boston: Federal Reserve Bank of Boston, 2000.
• "How Easy Should Debt Restructuring Be?" Adams et al. (eds.), Managing Financial and Corporate Distress, Washington: Brookings Institution Press, 2000.
• "What Have We Learned from the Disappearance of the Deficits?" Challenge, 43 (July/August 2000).
• "The Future of Monetary Policy: The Central Bank as an Army with Only a Signal Corps?" International Finance, 2 (November 1999).
• "The Power of the Electronic Herd," Review of The Lexus and the Olive Tree by Thomas L. Friedman in The New York Review of Books (July 15, 1999).