Milton Friedman and the Monetarist Challenge to Keynesianism (1968–1980)

1. Phillips Curve frames inflation–unemployment tradeoff

   Jan 1, 1958Labels: A W, United Kingdom, Phillips Curve

   • Cambridge Core

2. Friedman and Schwartz publish major monetarist history

   Jan 1, 1963Labels: Milton Friedman, Anna J, A Monetary

   • NBER
   • Hoover Works

3. Phelps introduces expectations-augmented Phillips Curve

   Jan 1, 1967Labels: Edmund Phelps, Expectations, Phillips Curve

   • EconBiz
   • Springer AEJ

4. Friedman delivers “Role of Monetary Policy” address

   Dec 29, 1967Labels: Milton Friedman, Natural rate, Monetary policy

   • Hoover Works
   • JSTOR AER

5. Friedman’s address is published in American Economic Review

   Mar 1, 1968Labels: Milton Friedman, American Economic, Presidential address

   • JSTOR AER
   • Springer AEJ

6. Arthur Burns becomes Federal Reserve chair

   Jan 31, 1970Labels: Arthur Burns, Federal Reserve, Great Inflation

   • Fed History

7. “Stagflation” enters wider policy debate

   Mar 31, 1971Labels: Stagflation, United Kingdom, Policy debate

   • UK Hansard
   • Wiki Stagflation

8. Nixon suspends dollar convertibility into gold

   Aug 15, 1971Labels: Richard Nixon, Bretton Woods, Dollar

   • Springer OA
   • Wiki Nixon

9. OAPEC oil embargo triggers major supply shock

   Oct 17, 1973Labels: OAPEC, Oil embargo, Supply shock

   • Britannica
   • History com

10. Friedman gives Nobel lecture on inflation and unemployment

    Dec 13, 1976Labels: Milton Friedman, Nobel lecture, Inflation

    • NobelPrize

11. Volcker becomes Federal Reserve chair amid inflation fears

    Aug 6, 1979Labels: Paul Volcker, Federal Reserve, Inflation

    • Fed History
    • NY Fed

12. Federal Reserve shifts operating procedures toward money control

    Oct 6, 1979Labels: Federal Reserve, Monetary aggregates, FOMC

    • SF Fed
    • NBER WP538