Money, Credit, and Federal Reserve Policy: Reply to Porter and Offenbacher

5 Pages Posted: 24 Aug 2012

See all articles by Benjamin M. Friedman

Benjamin M. Friedman

Harvard University - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: 1983

Abstract

I am grateful for the careful and painstaking effort that Richard Porter and Edward Offenbacher have devoted to replicating and extending parts of my empirical work on the relationship between nonfinancial economic activity and the economy’s total net credit outstanding, and I welcome the chance to respond to their paper as an opportunity to comment on several important questions about monetary policy in the context of that relationship.

Suggested Citation

Friedman, Benjamin M., Money, Credit, and Federal Reserve Policy: Reply to Porter and Offenbacher (1983). FRB Richmond Economic Review, Vol. 69, No. 6, November/December 1983, pp. 30-34. Available at SSRN: https://ssrn.com/abstract=2118126

Benjamin M. Friedman (Contact Author)

Harvard University - Department of Economics ( email )

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