This volume contains papers presented at a conference sponsored by the Federal Reserve Bank of Boston in June, 1971.
This conference, the fifth of a series covering a wide range of financial
and monetary issues, brought together a distinguished
group from universities, government and finance to exchange
views on one of the most neglected aspects of monetary
theory--the linkages between monetary policy and consumer
Entire Proceedings (14.9MB)
Frank E. Morris
Monetary Policy and Consumption
Franco Modigliani, with discussion by James S. Duesenberry followed by a Modigliani rebuttal.
Wealth, Liquidity and Consumption
James Tobin and Walter C. Dolde, with discussion by Gardner Ackley and a rebuttal by James Tobin.
The Impact of Monetary Policy on a Revised Version of 'Consumer Spending'
Paul J. Taubman, with discussion by F. Thomas Juster
The Evidence of the Great Depression
George D. Green, with discussion by Phillip D. Cagan
The Historical Record of Consumption and Monetary Policy
David I. Meiselman and Thomas D. Simpson, with discussion by Donald J. Daly
The Impact of Monetary Restraint on the Availability of Consumer Credit
Richard T. Selden, with discussion by Daniel H. Brill