Research website of Edward Nelson

Edward Nelson

Senior Adviser, Division of Monetary Affairs, Federal Reserve Board, Washington DC

Email: Edward.Nelson@frb.gov

Research interests: macroeconomics, monetary economics

Two new papers, April 2024:

"A Pro-Econometrics Tract: Modern Time Series Methods and the Friedman-Schwartz/Hendry-Ericsson Debate."   Available here.

"The Friedman-Schwartz/Hendry-Ericsson Debate on U.K. Monetary Trends: A 40-Year Retrospective."  Available here.

Other than the papers linked above, recent research papers of mine are available in the Federal Reserve Board's FEDS paper series on the Federal Reserve Board's website.  My official Board web page, including some CV/publication information and containing new papers (once they appear in FEDS), is at this link.

My books Milton Friedman and Economic Debate in the United States 1932-1972, Volume 1 and Volume 2, are now both published by University of Chicago Press, 2020.  Both are available on Amazon (links below) as well as from other online sellers.

The principal updates made to this website concern my continuation book Milton Friedman and Economic Debate in the United States 1973-2006 (with new draft chapters of this book being added periodically).

My IDEAS page and my SSRN page contain numerous links to various papers.  With regard to all my research writings, including the items downloadable at these sites and at the links below, the views expressed should not be interpreted as those of the Federal Reserve or the Board of Governors.

A few items not otherwise easily obtainable on the web are:

• Published (2013) version of "The Great Inflation in the United States and the United Kingdom: Reconciling Policy Decisions and Data Outcomes" with Riccardo DiCecio.  Available here.

• "Milton Friedman and the Federal Reserve Chairs, 1951-1979."  Paper presented at the Economic History Seminar, University of California, Berkeley, October 2013.   Available here.

• Presentation (April 2016) at the University of Sydney, "The Change in the Role of Monetary Policy in Australia in the Past Fifty Years."  Available here.

• Review (November 2022) of William A. Allen, The Bank of England and the Government Debt: Operations in the Gilt-Edged Market, 1928-1972.  Available here.

• "Milton Friedman and the Cold War, 1950-1968: McCarthyism, Foreign Aid, and the Soviet Economy."   Manuscript, February 2023.  Available here.

My books: 

Milton Friedman and Economic Debate in the United States, 1932-1972, Volume 1, University of Chicago Press, 2020.   Amazon link to volume 1

Milton Friedman and Economic Debate in the United States, 1932-1972, Volume 2, University of Chicago Press, 2020.   Amazon link to volume 2

Milton Friedman and Economic Debate in the United States, 1973-2006, in preparation (links to draft chapters given below). 

Chapters 1 to  10  (on domestic and international developments, 1973 to 1979) Full text downloadable here (pdf)

Chapters  11 to 18 (on domestic and international developments, 1980 to 2006) Full text downloadable here (pdf)