The role of macroeconomics in recent years: [ Ссылка ]

The near loss of price stability in the 1970s led to serious attention being paid to the role of expectations in economic management and the need to find monetary rules that respected changing incentives faced by households and firms under different economic environments. Models were then developed that mostly yielded arguments for price stability under an interest rate feedback rule and for a decade or so, under the Long Expansion, all seemed well.

The transcript and downloadable versions of the lecture are available from the Gresham College website: [ Ссылка ]

Gresham College has been giving free public lectures since 1597. This tradition continues today with all of our five or so public lectures a week being made available for free download from our website. There are currently over 1,800 lectures free to access or download from the website.
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