Reserve Bank of Boston conference, “The Macroeconomics of Fiscal
Policy,” Chatham, Mass., June 14-16, 2004. I am grateful to … instrumental to stabilization
policy than William McChesney Martin, who was then chairman of the Federal Reserve
Board. Indeed … increasing or reducing the
degree of “monetary accommodation.”
3
Stein (1969, p. 4). I was astonished to find, in …