In Old Chicago: Simons, Friedman, and the Development of Monetary‐Policy Rules
比较了亨利·西蒙斯在1930年代中期提出的价格水平稳定规则与米尔顿·弗里德曼在1950年代末提出的货币供应量恒定增长规则，分析两者在消除政策不确定性上的共同目标与分歧。
This paper examines the different policy rules proposed by Henry Simons, who, beginning in the mid‐1930s, advocated a price‐level stabilization rule, and by Milton Friedman, who, beginning in the late‐1950s, advocated a rule that targeted a constant growth rate of the money supply. Although both rules shared the objective of eliminating the policy uncertainty emanating from discretion, they differed because of the different views of Simons and Friedman about the stability of secular relationships. Simons’ rule relates to modern rules that emphasize the pursuit of price stability as representing optimal monetary policy.