Date of Original Version



Response or Comment

Abstract or Description

This essay provides the kind of concise and incisive survey that we have learned to await with anticipation from the ever-active pen of Professor Johnson. This time he is discussing the role of monetary policy as a stabilization device. The paper, originally prepared for the Canadian Royal Commission on Banking and Finance, deals mainly with Canadian problems. But the author ranges over the pros and cons of a number of issues of general interest, and there are useful comments on a variety of open questions.



Published In

The Quarterly Journal of Economics , 79, 1, 162-165.