Does Blanchard agree with Friedman about the natural rate hypothesis? What additional insights does Blanchard provide?
Read each article. “Friedman’s Presidential Address in the Evolution of Macroeconomic Thought, by N. Gregory Mankiw and Ricardo Reis. Mankiw and Reis explain Milton Friedman’s views about the natural rate hypothesis, Phillip’s Curve, and related issues in this article. Should We Reject the Natural Rate Hypothesis,” by Olivier Blanchard. Blanchard is not fully convinced there … Read more