Date of Original Version



Conference Proceeding

Abstract or Description

The title of these comments in the program is the optimal rate of money growth. I am certain that the Board members do not intend to hold a discussion at the level at which that topic is discussed by economists, so I have interpreted the topic liberally. The related issues that I discuss are: (1) the path for money growth (2) the problem of variability of monetary growth, and (3) the consequences of variable money growth for interest rates.


Prepared for Federal Reserve Academic Consultants meeting, April 27, 1982