Theory and Measurement or Microeconomics

Theory and Measurement: Causality Issues in Milton Friedman's Monetary Economics

Author: J Daniel Hammond

Focusing on the period of Milton Friedman's collaboration with Anna J. Schwartz, from 1948 to 1991, this work examines the history of debates between Friedman and his critics over money's causal role in business cycles. Professor Hammond shows that critics' reactions were grounded in two distinctive features of Friedman and Schwartz's way of doing economic analysis--their National Bureau business cycle methods and Friedman's Marshallian methodology. Drawing extensively on unpublished materials, Professor Hammond's treatment offers new insights on Milton Friedman's attempts to settle debates with his critics and his eventual recognition of the methodological impediments.

Table of Contents:

	Acknowledgments
	Introduction	1
1	Theory and Measurement at the National Bureau	5
2	Origins of Friedman's Marshallian Methodology	26
3	Origins of the Monetary Project	46
4	Critiques from Within the National Bureau	69
5	Post Hoc Ergo Propter Hoc: Part I	88
6	Reactions to the Monetary History	105
7	Post Hoc Ergo Propter Hoc: Part II	124
8	Friedman and His Critics on the Theoretical Framework	140
9	The Great Depression	166
10	Measurement without Measurement: Hendry and Ericsson's Critique	187
	Conclusion	208
	Appendix	215
	Bibliography	219
	Index	235

New interesting book: Design and Layout of Foodservice Facilities or Women Writing and the Industrial Revolution

Microeconomics: Theory & Applications

Author: Edgar K Browning

An applications-based approach illuminates microeconomic theory through short-focused examples, and four "using" chapters with extended applications that show the relevance of microeconomics to business professionals. No other book uses such a rich array of examples to demonstrate the relevance of price theory to everyday life. With its lively, readable text and emphasis on public policy, Microeconomics Theory and Applications has long been a favorite among students of economics.

Booknews

New edition of a microeconomics text that provides the fundamental tools of analysis and shows how the tools can be used to analyze both old and new economy markets. In addition to core principles, it emphasizes input market analysis and public policy issues. Although all chapters contain applictions, four of them are devoted exclusively to longer examples that use and reinforce the graphical and logical techniques developed in the theory chapters. Annotation c. Book News, Inc., Portland, OR (booknews.com)