IS-LM and monetarism

Michael D. Bordo, Anna J. Schwartz

Research output: Contribution to journalArticlepeer-review

7 Scopus citations


In sum, Friedman's main criticism of Keynes - that money matters (in the long run for inflation and in the short run for output) - has survived and prospered and is at the heart of both the synthesis model and the emphasis today on low inflation as the key policy goal of the world's leading central banks.

Original languageEnglish (US)
Pages (from-to)217-239
Number of pages23
JournalHistory of Political Economy
Issue numberSUPPL.
StatePublished - 2004

All Science Journal Classification (ASJC) codes

  • History
  • Economics and Econometrics


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