2018 Faculty Research Lecture

The 52nd Annual Faculty Research Lecture will be given by Professor Carl Walsh on Thursday, February 22, 2018 at the Music Recital Hall in the Performint Arts Complex.

From the Great Inflation to the Great Recession and Beyond: The Interplay of Monetary Theory and Policy

Over the past 50 years, the U.S. and other industrialized economies have experienced the Great Inflation of the 1970s, the Great Moderation that stretched from the mid-1980s to 2007, and the financial crisis and Great Recession of 2008-2009. The actions by central banks such as the Federal Reserve during each of these episodes have been influenced by academic research in monetary economics. And research in monetary economics has in turn been affected by   lessons drawn from these policy actions. My lecture will trace these two-way interactions that have led from the heyday of monetarism to an environment of monetary theory (and policy) divorced from money and explore their implications for business cycles, unemployment, and inflation.