Table of Contents

List of Charts, Figures and Tables vii

Preface James Davies Robert Leeson viii

Foreword Otmar Issing Axel Leijonhufvud ix

Notes on contributors xi

1 Interview with David Laidler Filippo Cesarano Charles Freedman Charles Goodhart Robert Leeson William Robson Nick Rowe Roger Sandilands Robert Young 1

2 David Laidler's Contributions Charles Goodhart J. Clark Leith 41

3 David Laidler on Monetarism Michael Bordo Anna J. Schwartz Discussion Nick Rowe 44

4 David Laidler's Contributions to the History of Monetary Economics Robert W. Dimand 60

5 Laidler's Monetarism Perry Mehrling 85

6 What is Good Government? David Laidler's Views Robert Young David Laidler James B. Davies 93

7 Trade-offs in Monetary Policy Milton Friedman John B. Taylor David Laidler 114

8 From Money Targeting to Inflation Targeting: The Change in the Role of Money in the Conduct of Monetary Policy Charles Freedman Charles Goodhart 128

9 Monetary Institutions and Monetary Theory: Reflections on the History of Monetary Economics Warren J. Samuels Roger Sandilands 157

10 Monetary Policy Implementation: A Microstructure Approach Perry Mehrling Neil T. Skaggs 212

11 Monetarism and Market Clearing Michel De Vroey Hans-Michael Trautwein 235

12 Less Than an Ideal Type: Varieties of Real Bills Doctrines Neil T. Skaggs 266

13 Hans Neisser's Views on Money and Structural Change, and Modern 'Quantity Theory' Implications Hans-Michael Trautwein Angela Redish 285

14 Harry Johnson, Keynes, and Keynesian Economics D. E. Moggridge 304

15 Hawtreyan 'Credit Deadlock' or Keynesian 'Liquidity Trap'? Lessons for Japan from the Great Depression Roger J. Sandilands Michel De Vroey 335

Index 373