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Fischer: (Money), Interest and Prices: Patinkin and Woodford
It is an honor for me to speak at the opening of this conference in honor of Michael Woodford, whose contributions to the theory of economic policy are frequently a central part of the economic analysis that takes place in the policy discussions at the Federal Reserve.1 The main story I want to tell today is about the quality of Michael's major book, Interest and Prices (henceforth MWIP). I will start with his predecessors, beginning as Michael does in his Interest and Prices with Wicksell.2 3 I shall quote key points from and about Wicksell's Interest and Prices (henceforth KWIP), and following that, from Patinkin's ... (full story)
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